Idacorp vs MGE Energy
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KIRA’s take AI analyst
I put Idacorp and MGE Energy side by side, using each one’s latest annual report. Here is what stands out:
- Idacorp is the larger business, with $1.7B of revenue in fiscal 2025 against $744M for MGE Energy, about 2.3 times as much.
- MGE Energy grew revenue faster (9.9%, against −1.2%).
- MGE Energy kept more of each dollar of sales as operating profit (23.0% operating margin, against 20.3%).
- MGE Energy turned more of its sales into free cash flow (−10.8% FCF margin, against −33.1%).
- MGE Energy earned a higher return on the capital invested in it (7.0%, against 5.5%).
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
Idacorp
IDA
1/9
Net margin
MGE Energy
MGEE
7/9
Revenue growth5-year growthOperating marginFCF marginReturn on capitalReturn on equityShare count change
Side by side
Best in the row
| Latest fiscal year | IDA FY25 | MGEE FY25 |
|---|---|---|
| Size | ||
| Market cap | $7.7B | $2.7B |
| Revenue | $1.7B | $744M |
| Free cash flow | −$577M | −$80.0M |
| Net income | $324M | $136M |
| Growth | ||
| Revenue growth | −1.2% | 9.9% |
| 5-year growth | 6.3% | 6.7% |
| Share count change | 4.2% | 0.9% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 20.3% | 23.0% |
| Net margin | 18.5% | 18.3% |
| FCF margin | −33.1% | −10.8% |
| Return on capital | 5.5% | 7.0% |
| Return on equity | 9.4% | 10.7% |
| Balance sheet | ||
| Net debt | $3.3B | $922M |
| Net debt / EBITDA | 5.5x | — |
| Dividends and buybacks | $192M | $67.6M |
| Valuation & quality | ||
| P/E | — | 18.8x |
| Piotroski F-score | 5 | 5 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.