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 41 d ago 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 21.8× (Sep '26).
The price-to-sales ratio has fallen from 3.7× (Mar '23) to 2.2× (Sep '26).
The dividend yield has fallen from 2.8% (Mar '23) to 2.6% (Sep '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?

As of Sep '26, Mdu Resources Group Inc traded at a price-to-earnings ratio of about 21.8× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. 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), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.