How many employees does MGE Energy, Inc. have?

MGE Energy, Inc. reported 726 employees for the fiscal year ending Dec 2025, in the annual report it filed on February 24, 2026. That is up 1.3% from a year earlier.

What is MGE Energy, Inc.'s revenue per employee?

MGE Energy, Inc. brought in $744M of revenue in fiscal Dec 2025, which is $1.02M per employee. That ranks 25 of 37 companies we track in Regulated Electric, where the median is $1.16M.

Where do these numbers come from?

Employee counts and revenue are taken from each company's own annual report (Form 10-K). Open roles are counted from the company's public job board where we have matched one. Companies report headcount once a year, sometimes rounded, so small changes can be noise.

Company data

MGE Energy, Inc. employees and revenue per employee

MGEE · Regulated Electric · $2.65B market cap

MGE Energy, Inc. had 726 employees at the end of fiscal Dec 2025, up 1.3% from a year earlier. Revenue for the year was $744M, up 9.9% from a year earlier, or $1.02M per employee. Revenue and headcount both grew, and revenue grew faster.

Employees

726

+1.3% YoY

Revenue

$744M

+9.9% YoY

Revenue / employee

$1.02M

Peer median $1.16M

Rank in industry

25 of 37

Regulated Electric

Headcount against revenue

Both lines start at 100 in the first year we hold, so you can see which one grew faster.

EmployeesRevenueIndexed to 100 in Dec 2016

Hover a year for the numbers.

MGEE employees and revenue by fiscal year
Year ending	Employees	Revenue	Per employee	Staff YoY	Revenue YoY
Dec 2025	726	$744M	$1.02M	+1.3%	+9.9%
Dec 2024	717	$677M	$944K	-0.3%	-2.0%
Dec 2023	719	$690M	$960K	+2.6%	-3.4%
Dec 2022	701	$715M	$1.02M	-0.7%	+17.8%
Dec 2021	706	$607M	$859K	-2.4%	+12.6%
Dec 2020	723	$539M	$745K	-1.1%	-5.3%
Dec 2019	731	$569M	$778K	+3.5%	+1.6%
Dec 2018	706	$560M	$793K	-0.8%	-0.6%
Dec 2017	712	$563M	$791K	+1.1%	+3.4%
Dec 2016	704	$545M	$774K	—	—

Open roles: we have not matched a verified job board for this company yet.

Employees, last six fiscal years

Revenue per employee, last six fiscal years

MGE Energy, Inc. against similar companies

The closest industry peers by revenue, from Regulated Electric.

Company	Employees	Revenue	Revenue / employee	Shape
TXNM TXNM Energy, Inc.	389	$2.17B	$5.57M	Efficient growth
LNT Alliant Energy Corporation	1,700	$4.36B	$2.57M	Leaner
OGE OGE Energy Corp.	2,248	$3.26B	$1.45M	Leaner
POR Portland General Electric Company	2,877	$3.37B	$1.17M	Contracting
HE Hawaiian Electric Industries, Inc.	2,659	$3.09B	$1.16M	Hiring into decline
MGEE MGE Energy, Inc.	726	$744M	$1.02M	Efficient growth
NWE Northwestern Energy Group Inc	1,667	$1.61B	$966K	Efficient growth
IDA IDACORP, Inc.	2,174	$1.81B	$834K	Hiring into decline
PNW Pinnacle West Capital Corporation	6,610	$5.34B	$808K	Efficient growth

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Questions about MGE Energy, Inc.

How many employees does MGE Energy, Inc. have?: MGE Energy, Inc. reported 726 employees for the fiscal year ending Dec 2025, in the annual report it filed on February 24, 2026. That is up 1.3% from a year earlier.
What is MGE Energy, Inc.'s revenue per employee?: MGE Energy, Inc. brought in $744M of revenue in fiscal Dec 2025, which is $1.02M per employee. That ranks 25 of 37 companies we track in Regulated Electric, where the median is $1.16M.
Where do these numbers come from?: Employee counts and revenue are taken from each company's own annual report (Form 10-K). Open roles are counted from the company's public job board where we have matched one. Companies report headcount once a year, sometimes rounded, so small changes can be noise.

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More data

Compare MGEE with the rest of the market

See who earns the most per employee, who is hiring, and who is cutting, across every company we track.

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Source: employee counts and revenue as stated in MGE Energy, Inc.'s annual reports (Form 10-K), latest filed February 24, 2026. This is data, not a recommendation to buy or sell MGEE.