NYSE · Financial Statements

MDU Resources Group, Inc. Common Stock (Holding Company) (MDU) Financial Statements

$19.22 NYSE: MDU Market Cap $4.04B

MDU Resources Group, Inc. Common Stock (Holding Company) most recently reported annual revenue of $1.9B, net profit of $190.0M. Revenue declined at an average annual rate of 19.5% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

MDU Resources Group, Inc. Common Stock (Holding Company): Revenue fell from $4.1B in 2016 to $1.9B in 2025, a change of -54.6% over 9 years; net profit was positive in all 10 reported years; operating margin moved from 9.9% to 15.5%, a shift of +5.6 percentage points; the most recent year shows net profit of $190.0M.

Income Statement — 10 Years (USD millions)

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Revenue	$4.1B	$4.4B	$4.5B	$5.3B	$5.5B	$3.5B	$1.7B	$1.8B	$1.8B	$1.9B
Operating Expenses	$3.7B	$4.0B	$4.1B	$4.9B	$5.0B	$3.1B	$1.5B	$1.6B	$1.5B	$1.6B
Operating Profit	$409.0M	$429.0M	$402.0M	$481.0M	$545.0M	$331.0M	$201.0M	$225.0M	$266.0M	$290.0M
Operating Margin	9.9%	9.7%	8.9%	9.0%	9.8%	9.6%	11.5%	12.5%	15.1%	15.5%
Other Income	$-83.0M	$-74.0M	$-85.0M	$-83.0M	$-70.0M	$-45.0M	$-77.0M	$115.0M	$-67.0M	$-79.0M
Interest	$88.0M	$83.0M	$85.0M	$99.0M	$97.0M	$71.0M	$81.0M	$114.0M	$108.0M	$108.0M
Depreciation	$216.0M	$207.0M	$220.0M	$256.0M	$285.0M	$198.0M	$189.0M	$190.0M	$200.0M	$207.0M
Profit Before Tax	$326.0M	$350.0M	$317.0M	$398.0M	$475.0M	$286.0M	$123.0M	$340.0M	$199.0M	$211.0M
Tax	$28.5M	$18.6M	$15.0M	$15.9M	$17.8M	$15.2M	$5.0M	$3.0M	$8.8M	$9.3M
Net Profit	$64.0M	$281.0M	$272.0M	$335.0M	$390.0M	$378.0M	$367.0M	$415.0M	$281.0M	$190.0M
EPS	$0.33	$1.43	$1.39	$1.69	$1.95	$1.87	$1.81	$2.03	$1.37	$0.93
Dividend Payout	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

Metric	Sep '23	Dec '23	Mar '24	Jun '24	Sep '24	Dec '24	Mar '25	Jun '25	Sep '25	Dec '25	Mar '26	Jun '26
Revenue	$1.0B	$1.1B	$588.0M	$344.0M	$290.0M	$536.0M	$675.0M	$351.0M	$315.0M	$534.0M	$606.0M	$375.0M
Operating Expenses	$916.0M	$994.0M	$492.0M	$305.0M	$255.0M	$441.0M	$562.0M	$321.0M	$275.0M	$427.0M	$490.0M	$327.0M
Operating Profit	$85.0M	$141.0M	$97.0M	$40.0M	$35.0M	$95.0M	$113.0M	$30.0M	$40.0M	$107.0M	$116.0M	$48.0M
Operating Margin	8.4%	12.4%	16.4%	11.5%	12.0%	17.7%	16.7%	8.6%	12.6%	20.1%	19.1%	12.8%
Interest	$32.0M	$32.0M	$29.0M	$29.0M	$27.0M	$24.0M	$27.0M	$25.0M	$26.0M	$29.0M	$33.0M	$32.0M
Profit Before Tax	$92.0M	$138.0M	$82.0M	$23.0M	$16.0M	$77.0M	$91.0M	$15.0M	$21.0M	$84.0M	$86.0M	$23.0M
Tax	$14.6M	$-23.8M	$8.9M	$13.6M	$5.3M	$8.1M	$9.4M	$4.4M	$11.1M	$9.6M	$5.5M	$14.6M
Net Profit	$75.0M	$171.0M	$101.0M	$60.0M	$65.0M	$55.0M	$82.0M	$14.0M	$18.0M	$76.0M	$81.0M	$21.0M
EPS	$0.37	$0.84	$0.49	$0.30	$0.32	$0.26	$0.40	$0.07	$0.09	$0.37	$0.39	$0.10

Over the 10 years reported for MDU Resources Group, Inc. Common Stock (Holding Company), borrowings increased from $1.8B in 2016 to $2.7B in 2025, cash stood at $28.0M in the latest year, shareholders' equity was $204.0M, current assets covered current liabilities 0.84 times.

Balance Sheet — 10 Years (USD millions)

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Total Assets	$6.3B	$6.3B	$7.0B	$7.7B	$8.1B	$8.9B	$9.7B	$7.8B	$7.0B	$7.8B
Current Assets	$977.0M	$1.1B	$1.2B	$1.3B	$1.3B	$1.6B	$2.0B	$1.4B	$666.0M	$572.0M
Cash	$46.0M	$35.0M	$54.0M	$66.0M	$60.0M	$54.0M	$35.0M	$49.0M	$50.0M	$28.0M
Inventory	$238.0M	$227.0M	$287.0M	$278.0M	$291.0M	$336.0M	$64.0M	$87.0M	$45.0M	$39.0M
Receivables	$630.0M	$727.0M	$723.0M	$837.0M	$874.0M	$947.0M	$1.1B	$943.0M	$274.0M	$259.0M
Fixed Assets	$3.9B	$4.1B	$4.6B	$5.0B	$5.3B	$5.9B	$4.8B	$5.2B	$5.3B	$6.0B
Capital Work in Progress	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Investments	$126.0M	$138.0M	$139.0M	$149.0M	$165.0M	$175.0M	$129.0M	$124.0M	$115.0M	$121.0M
Other Assets	$632.0M	$632.0M	$665.0M	$681.0M	$715.0M	$765.0M	$489.0M	$489.0M	$346.0M	$346.0M
Total Liabilities	$4.0B	$3.9B	$4.4B	$4.8B	$5.0B	$5.5B	$6.1B	$4.9B	$4.3B	$5.0B
Current Liabilities	$670.0M	$813.0M	$986.0M	$866.0M	$964.0M	$1.1B	$1.5B	$1.1B	$679.0M	$685.0M
Borrowings	$1.8B	$1.7B	$2.1B	$2.4B	$2.4B	$2.9B	$2.5B	$2.5B	$2.3B	$2.7B
Other Liabilities	$2.2B	$2.2B	$2.3B	$2.5B	$2.6B	$2.7B	$3.6B	$2.4B	$2.1B	$2.2B
Equity	$196.0M	$196.0M	$197.0M	$201.0M	$201.0M	$204.0M	$204.0M	$204.0M	$204.0M	$204.0M
Reserves	$2.3B	$2.4B	$2.6B	$2.8B	$3.1B	$3.4B	$3.6B	$2.9B	$2.7B	$2.8B

For MDU Resources Group, Inc. Common Stock (Holding Company), operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was negative at $319.0M; free cash flow was positive in 5 of 10 years; financing activities used $4.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Operating Cash Flow	$462.0M	$448.0M	$500.0M	$542.0M	$768.0M	$496.0M	$510.0M	$333.0M	$502.0M	$473.0M
Investing Cash Flow	$-648.0M	$-431.0M	$-1.3B	$-1.2B	$-1.2B	$-1.4B	$-1.1B	$-1.1B	$-1.1B	$-1.6B
Financing Cash Flow	$-41.0M	$-18.0M	$-7.0M	$-8.0M	$-1.0M	$270.0M	$144.0M	$83.0M	$114.0M	$-4.0M
Net Cash Flow	$-38.0M	$-11.0M	$19.0M	$13.0M	$-7.0M	$-5.0M	$26.0M	$-4.0M	$-10.0M	$-39.0M
Free Cash Flow	$74.0M	$107.0M	$-68.0M	$-34.0M	$210.0M	$11.0M	$67.0M	$-187.0M	$-21.0M	$-319.0M

Valuation & Return Ratios

Metric	Value
PEG Ratio	-2.06
EV / EBITDA	13.08
FCF Yield	-9.02%
Quick Ratio	0.95
Interest Coverage	2.60
Return 1Y	24.08%
Return 3Y	92.04%
Return 5Y	88.58%

MDU Resources Group, Inc. Common Stock (Holding Company) (MDU) financials — frequently asked questions

What is MDU Resources Group, Inc. Common Stock (Holding Company)'s annual revenue?

MDU Resources Group, Inc. Common Stock (Holding Company) (MDU) reported annual revenue of $1.9B in its most recent fiscal year.

What is MDU Resources Group, Inc. Common Stock (Holding Company)'s net profit?

MDU Resources Group, Inc. Common Stock (Holding Company) (MDU) reported net profit of $190.0M in its most recent fiscal year.

What is MDU EV/EBITDA?

MDU Resources Group, Inc. Common Stock (Holding Company)'s enterprise value to EBITDA (EV/EBITDA) ratio is 13.08.

Related stock screens

High ROE Industrials Stocks Low P/E Industrials Stocks High Net Margin Industrials Stocks Dividend Industrials Stocks Low Debt Industrials Stocks High ROE Stocks Low P/E Stocks High Net Margin Stocks Dividend Stocks Low Debt Stocks NYSE High ROE Stocks All stock screens

MDU Overview MDU Dividend Run Stock Screener

Data for information only, not investment advice. Figures may be delayed or inaccurate; verify against company filings. See our disclaimer.