MDUNYSENatural Gas DistributionFiscal year ends December 31
MDU RESOURCES GROUP INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$18.90−0.10 (-0.53%)
Close on Oct 19, 2026
- Market cap
- $4.00B
- P/E (TTM)
- 19.9
- Dividend yield
- 2.86%
Margins
Share of revenue, fiscal years 2011 to 2025
Operating margin
15.5%+5.6 pts over 5 years
Net margin
10.2%+3.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +6.7% | +2.4% | -19.5% | -7.3% | |
| Operating income | +9.3% | +13.1% | -11.8% | -1.0% | |
| Net income | -32.3% | -19.7% | -13.4% | – | |
| EPS, diluted | -32.1% | -19.9% | -13.8% | – | |
| Dividend per share | +5.9% | -14.9% | -8.3% | -3.0% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 13.2% | 7.0% | |
| Return on assets | – | 5.0% | 2.6% | |
| Current ratio | 1.46 | 1.39 | 0.84 | |
| Debt to equity | 0.77 | 0.73 | 0.97 | |
| Net debt to EBITDA | 2.79× | 2.65× | 5.33× | |
| Interest coverage | 4.7× | 5.6× | 2.7× | |
| Capex to revenue | 9.4% | 10.1% | 41.1% | |
| Diluted shares | 196M | 201M | 205M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Mdu Resources generated $2.31B from operations and spent $3.44B on capital expenditure, dividends and share buybacks. 79% of that went back into the business.
Generated
$2.31B
Used
$3.44B
Capital expenditure$2.71B79%Dividends$720.77M21%Share buybacks$18.91M1%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin10.2%
×Asset turnover0.26×
×Equity multiplier2.68×
=Return on equity, FY20257.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 10.2% | 0.26× | 2.68× | 7.0% |
| FY2024 | 16.0% | 0.24× | 2.66× | 10.0% |
| FY2023 | 23.0% | 0.21× | 2.69× | 12.8% |
| FY2022 | 21.0% | 0.19× | 2.66× | 10.5% |
| FY2021 | 10.9% | 0.41× | 2.63× | 11.7% |
| FY2020 | 7.1% | 0.70× | 2.66× | 13.2% |
| FY2019 | 6.3% | 0.73× | 2.71× | 12.4% |
| FY2018 | 6.0% | 0.68× | 2.67× | 10.9% |
| FY2017 | 6.3% | 0.70× | 2.66× | 11.9% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$190.40M
- Cash generatingOperating cash flow above zero$473.37M
- Return on assets improvedROA up on the prior year3.6% → 2.7%
- Earnings backed by cashOperating cash flow above net income$473.37M vs $190.40M
- Less leverageLong-term debt to assets fell30.3% → 33.2%
- Better liquidityCurrent ratio rose0.98 → 0.84
- No dilutionShare count did not rise205M → 205M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.22 → 0.27