MDU Financials Mdu Resources Group Inc

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Aug 9, 2026, 10:19 UTC Overview →

Growth & profitability

Revenue has declined 14.0% per year over the past 5 years.
Net income has grown faster than revenue (-13.4% vs -14.0% per year).

Financial health

Total debt ($2.7B) exceeds cash ($28M); net debt is $2.6B.
Total debt has grown faster than revenue (3.4% vs -14.0% per year).
Operating income covered interest expense 2.7× in the latest year.
Total debt is 5.4× EBITDA.

Shareholder returns

Dividends have been paid for 15 consecutive years, consuming 56.9% of earnings.
The dividend has declined 8.2% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$1.9B	$190M	0.0%	15.6%	6.9%	2.5%	-$297M	$2.7B	$28M
2024	$1.8B	$281M	0.0%	15.2%	10.4%	4.0%	-$21M	$2.3B	$67M
2023	$1.8B	$415M	0.0%	12.5%	14.3%	5.3%	-$152M	$2.3B	$60M
2022	$1.8B	$367M	0.0%	11.5%	10.2%	3.8%	$67M	$2.4B	$70M
2021	$3.4B	$378M	0.0%	9.7%	11.2%	4.2%	$11M	$2.7B	$54M
2020	—	$390M	—	—	12.7%	4.8%	$210M	$2.3B	$60M
2019	—	$335M	—	—	11.8%	4.4%	-$34M	$2.2B	$66M
2018	—	$272M	—	—	10.6%	3.9%	-$68M	$2.1B	$54M
2017	—	$281M	—	—	11.6%	4.4%	$107M	$1.7B	$35M
2012	—	-$754000	—	—	-0.0%	-0.0%	-$288M	—	$49M
2011	—	$213M	—	—	7.7%	3.2%	$130M	$1.3B	$163M
2010	—	$241M	—	—	8.9%	3.8%	$102M	$1.5B	$222M
2009	—	-$123M	—	—	-4.8%	-2.1%	—	—	$175M
2008	—	$294M	—	—	10.6%	4.5%	—	—	$52M
2007	—	$432M	—	—	—	—	—	—	$106M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Jun '26	$373M	$21M	0.0%	12.9%	0.7%	0.3%	$15M	$2.6B	$46M
Mar '26	$599M	$81M	0.0%	19.3%	2.8%	1.1%	$57M	$2.6B	$53M
Dec '25	$523M	$76M	0.0%	20.5%	2.8%	1.0%	-$336M	$2.7B	$28M
Sep '25	$314M	$18M	0.0%	12.7%	0.7%	0.3%	-$122M	$2.4B	$76M
Jun '25	$349M	$14M	0.0%	8.7%	0.5%	0.2%	$36M	$2.2B	$59M
Mar '25	$678M	$82M	0.0%	16.6%	3.0%	1.2%	$124M	$2.2B	$60M
Dec '24	$531M	$55M	0.0%	17.8%	2.1%	0.8%	-$96M	$2.3B	$67M
Sep '24	$291M	$65M	0.0%	12.0%	2.1%	0.8%	$673000	$2.3B	$88M
Jun '24	$343M	$60M	0.0%	11.5%	2.0%	0.8%	$27M	$2.3B	$79M
Mar '24	$588M	$101M	0.0%	16.4%	3.4%	1.3%	$48M	$2.3B	$73M
Dec '23	-$1.7B	$171M	0.0%	3.6%	5.9%	2.2%	$44M	$2.3B	$60M
Sep '23	$991M	$75M	0.0%	8.5%	2.7%	1.0%	-$37M	$2.6B	$32M
Jun '23	$1.1B	$131M	0.0%	7.6%	4.8%	1.7%	-$4M	$2.6B	$51M
Mar '23	$1.4B	$38M	0.0%	8.3%	1.1%	0.4%	-$155M	$2.5B	$86M
Dec '22	—	$117M	—	—	3.3%	1.2%	$88M	$2.4B	$70M
Sep '22	—	$148M	—	—	4.2%	1.5%	$35M	$2.3B	$58M
Jun '22	—	$71M	—	—	2.1%	0.8%	-$53M	$2.1B	$54M
Mar '22	—	$32M	—	—	0.9%	0.4%	-$38M	$2.8B	$65M
Dec '21	—	$87M	—	—	2.6%	1.0%	-$101M	$2.7B	$54M
Sep '21	—	$139M	—	—	4.2%	1.6%	$17M	$2.4B	$57M

Valuation over time

How the market has priced MDU against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 17.5× (Mar '23) to 21.9× (Nov '26).
The price-to-sales ratio has fallen from 3.7× (Mar '23) to 2.2× (Nov '26).
The dividend yield has fallen from 2.8% (Mar '23) to 2.6% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is MDU growing its revenue and profit?

Over the past 5 years, Mdu Resources Group Inc's revenue has declined 14.0% per year, and net income declined 13.4% per year. These are computed facts, not advice.

How much debt does MDU have?

As of FY2025, Mdu Resources Group Inc reported $2.7B of total debt against $28M of cash; operating income covered interest expense 2.7×.

What is MDU's profit margin?

In FY2025, gross margin was —, operating margin 15.6%, and net margin 10.2%.

What is MDU's P/E ratio?

Mdu Resources Group Inc's P/E (TTM) is 21.23 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the MDU stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 21.9× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.