Mdu Resources Group IncMdu Resources Group Inc
Mdu Resources Group Inc

Mdu Resources Group Inc

MDU
Industrials·Industrial Conglomerates

MDU Resources Group, Inc. engages in the provision of natural resource products and related services to energy and transportation infrastructure. It operates through the following business segments: Electric, Natural Gas Distribution, Pipeline, and Other. The Electric segment generates, transmits and distributes electricity in Montana, North Dakota, South Dakota, and Wyoming. The Natural Gas Distribution segment distributes natural gas in Montana, North Dakota, South Dakota, Wyoming, Idaho, Minnesota, Oregon, and Washington. The Pipeline segment offers natural gas transportation, underground storage, processing and gathering services, as well as oil gathering, through regulated and non-regulated pipeline systems and processing facilities. The Other segment refers to the activities of Centennial Capital, which, through its subsidiary, InterSource Insurance Company, insures various types of risks as a captive insurer for certain of the company's subsidiaries. The company was founded by C. C. Yawkey, R.M. Heskett and Walter Alexander on March 14,1924, and is headquartered in Bismarck, ND.

North Dakota; U.S.A
Market cap
No dataNo data
Revenue
$1.9B+6.7% YoY
Net income
$190.4M−32.3% YoY
Free cash flow
$-297M−1348.5% YoY

Market

Listed stock
MDUPriceNYSE
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Financial performance

Revenue
$1.9B+6.7% YoY
Operating income
$290.4M+9.3% YoY
Net income
$190.4M−32.3% YoY
Free cash flow
$-297M−1348.5% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $5.7B, 2022 $7B, 2023 $4.7B, 2024 $1.8B, 2025 $1.9B. Operating income: 2021 $534.2M, 2022 $574M, 2023 $426M, 2024 $265.6M, 2025 $290.4M. Net income: 2021 $378.1M, 2022 $367.5M, 2023 $414.7M, 2024 $281.1M, 2025 $190.4M. Free cash flow: 2021 $-163.6M, 2022 $-146.5M, 2023 $-187.1M, 2024 $-20.5M, 2025 $-297M. Reference line: Reference at $0.

Growth & profitability

Revenue growth
6.7%+6891 bps YoY
Gross margin
No dataNo data
Operating margin
No dataNo data
FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $534.2M, 2022-12-31 $574M, 2023-12-31 $426M, 2024-12-31 $265.6M, 2025-12-31 $290.4M. Net income: 2021-12-31 $378.1M, 2022-12-31 $367.5M, 2023-12-31 $414.7M, 2024-12-31 $281.1M, 2025-12-31 $190.4M. Free cash flow: 2021-12-31 $-163.6M, 2022-12-31 $-146.5M, 2023-12-31 $-187.1M, 2024-12-31 $-20.5M, 2025-12-31 $-297M

Growth heatmap

2022202320242025CAGR
Revenue
+22.8%
-33.2%
-62.3%
+6.7%
-24.2%
Gross profit
+22.8%
-33.2%
-62.3%
+6.7%
-24.2%
Operating income
+7.4%
-25.8%
-37.6%
+9.3%
-14.1%
Free cash flow
+10.5%
-27.7%
+89.0%
-1348.5%
No data

Earnings quality

Operating cash flow
$473.4M−5.8% YoY
Net income
$190.4M−32.3% YoY
Free cash flow
$-297M−1348.5% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 249%, 2024-12-31 179%, 2023-12-31 80%, 2022-12-31 139%, 2021-12-31 131%. Free cash flow: 2025-12-31 -156%, 2024-12-31 -7%, 2023-12-31 -45%, 2022-12-31 -40%, 2021-12-31 -43%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
No data
FCF / share
Latest
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Diluted shares
Latest
No data

Financial flexibility

Cash & equivalents
No dataNo data
Total debt
No dataNo data
Net debt
No dataNo data
Current ratio
No dataNo data

Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
No dataNo data
Return on assets
No dataNo data
Return on invested capital
No dataNo data
Asset turnover
No dataNo data

Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
No dataNo data
EV / EBITDA
No dataNo data
Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
No data
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Price to sales
No data
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EV / EBITDA
No data
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Free cash flow yield
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