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MDU Resources Group, Inc. (MDU) 10-Year Financial Performance & Capital Metrics

MDU • • Industrial / General
IndustrialsConglomeratesInfrastructure & Energy ConglomeratesIntegrated Infrastructure & Energy
AboutMDU Resources Group, Inc. engages in the regulated energy delivery, and construction materials and services businesses in the United States. The company's Electric segment generates, transmits, and distributes electricity for residential, commercial, industrial, and municipal customers in Montana, North Dakota, South Dakota, and Wyoming, as well as operates 3,500 miles of transmission lines and 4,800 miles of distribution lines. Its Natural Gas Distribution segment distributes natural gas for residential, commercial, and industrial customers in Idaho, Minnesota, Montana, North Dakota, Oregon, South Dakota, Washington, and Wyoming; and offers supply-related value-added services. The company's Pipeline segment provides natural gas transportation and underground storage services through a regulated pipeline system primarily in the Rocky Mountain and northern Great Plains regions; and cathodic protection and other energy-related services. Its Construction Materials and Contracting segment mines, processes, and sells construction aggregates; produces and sells asphalt mix; and supplies ready-mixed concrete. This segment is also involved in the sale of cement, finished concrete products, and other building materials and related contracting services. The company's Construction Services segment designs, constructs, and maintains electrical and communication wiring and infrastructure, fire suppression systems, mechanical piping and services; overhead and underground electrical, gas, and communication infrastructure; and manufactures and distributes transmission lines construction equipment. It serves manufacturing, commercial, industrial, transportation, institutional, and renewable and government customers, as well as utilities. The company was founded in 1924 and is headquartered in Bismarck, North Dakota.Show more
  • Revenue $1.76B -2.5%
  • EBITDA $466M +12.1%
  • Net Income $281M -32.2%
  • EPS (Diluted) 1.37 -32.5%
  • Gross Margin 32.53% +13.1%
  • EBITDA Margin 26.49% +15.0%
  • Operating Margin 15.11% +21.1%
  • Net Margin 15.99% -30.5%
  • ROE 10.05% -21.4%
  • ROIC 3.88% +30.7%
  • Debt/Equity 0.85 -0.6%
  • Interest Coverage 2.45 +24.6%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Healthy dividend yield of 2.5%
  • ✓Healthy 5Y average net margin of 15.6%
  • ✓Trading near 52-week high

✗Weaknesses

  • ✗Negative free cash flow
  • ✗Sales declining 19.9% over 5 years
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-9.31%
5Y-19.92%
3Y-20.16%
TTM-20.41%

Profit (Net Income) CAGR

10Y-0.59%
5Y-3.47%
3Y-9.41%
TTM-57.32%

EPS CAGR

10Y-1.23%
5Y-4.11%
3Y-9.85%
TTM-58.09%

ROCE

10Y Avg5.52%
5Y Avg4.37%
3Y Avg3.19%
Latest4.05%

Peer Comparison

Integrated Infrastructure & Energy
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
MDUMDU Resources Group, Inc.4.2B20.4214.91-2.52%9.02%6.22%0.85
FIPFTAI Infrastructure Inc.653.57M5.62-2.073.44%-30.62%-77.95%3.63

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+4.19B4.13B4.44B4.53B5.34B5.53B3.45B1.75B1.8B1.76B
Revenue Growth %-0.1%-0.01%0.08%0.02%0.18%0.04%-0.38%-0.49%0.03%-0.03%
Cost of Goods Sold+3.57B3.35B3.64B3.74B4.4B4.49B2.77B1.26B1.28B1.19B
COGS % of Revenue0.85%0.81%0.82%0.83%0.83%0.81%0.8%0.72%0.71%0.67%
Gross Profit+624.5M777.2M802.9M790.6M933.38M1.05B687.28M490.06M518.53M571.94M
Gross Margin %0.15%0.19%0.18%0.17%0.17%0.19%0.2%0.28%0.29%0.33%
Gross Profit Growth %-0.42%0.24%0.03%-0.02%0.18%0.12%-0.34%-0.29%0.06%0.1%
Operating Expenses+370.4M368.1M374.2M388.9M452.16M502.35M356.23M289.19M293.58M306.29M
OpEx % of Revenue0.09%0.09%0.08%0.09%0.08%0.09%0.1%0.17%0.16%0.17%
Selling, General & Admin01.78M01.73M000000
SG&A % of Revenue-0%-0%------
Research & Development0000000000
R&D % of Revenue----------
Other Operating Expenses19.3M5M4.1M-200K452.16M502.35M356.23M289.19M293.58M306.29M
Operating Income+254.1M409.1M428.7M401.7M481.22M544.92M331.05M200.87M224.94M265.64M
Operating Margin %0.06%0.1%0.1%0.09%0.09%0.1%0.1%0.11%0.12%0.15%
Operating Income Growth %-0.48%0.61%0.05%-0.06%0.2%0.13%-0.39%-0.39%0.12%0.18%
EBITDA+481.83M625.42M636.19M621.9M737.24M830.02M529.29M389.43M415.39M465.72M
EBITDA Margin %0.11%0.15%0.14%0.14%0.14%0.15%0.15%0.22%0.23%0.26%
EBITDA Growth %-0.46%0.3%0.02%-0.02%0.19%0.13%-0.36%-0.26%0.07%0.12%
D&A (Non-Cash Add-back)227.73M216.32M207.49M220.21M256.02M285.1M198.24M188.56M190.45M200.08M
EBIT338.23M414.08M432.81M401.49M497.03M571.64M356.77M204.13M444.95M307.01M
Net Interest Income+-91.18M-87.85M-82.79M-84.61M-98.59M-96.52M-70.71M-80.68M-114.31M-108.35M
Interest Income1.92M52K12K0000000
Interest Expense93.1M87.9M82.8M84.6M98.59M96.52M70.71M80.68M114.31M108.35M
Other Income/Expense-72.72M-82.68M-74.02M-84.85M-82.78M-69.81M-44.98M-77.42M115.39M-66.98M
Pretax Income+180.3M326.2M350M316.9M398.44M475.12M286.07M123.45M340.33M198.66M
Pretax Margin %0.04%0.08%0.08%0.07%0.07%0.09%0.08%0.07%0.19%0.11%
Income Tax+65.6M93.1M65.1M47.5M63.28M84.59M43.54M6.2M10.21M17.59M
Effective Tax Rate %-3.45%0.2%0.8%0.86%0.84%0.82%1.32%2.98%1.22%1.42%
Net Income+-622.4M64.4M281.1M272.3M335.45M390.2M378.13M367.49M414.71M281.11M
Net Margin %-0.15%0.02%0.06%0.06%0.06%0.07%0.11%0.21%0.23%0.16%
Net Income Growth %-3.09%1.1%3.36%-0.03%0.23%0.16%-0.03%-0.03%0.13%-0.32%
Net Income (Continuing)176.39M233.1M284.99M269.39M335.17M390.53M242.52M117.25M330.12M181.07M
Discontinued Operations0002.93M287K-322K135.61M250.24M84.59M100.03M
Minority Interest124.04M000000000
EPS (Diluted)+-3.190.331.431.391.691.951.871.812.031.37
EPS Growth %-3.06%1.1%3.33%-0.03%0.22%0.15%-0.04%-0.03%0.12%-0.33%
EPS (Basic)-3.190.331.441.391.691.951.871.812.041.38
Diluted Shares Outstanding195M195.6M195.7M196.2M198.63M200.57M202.38M203.46M203.94M204.65M
Basic Shares Outstanding194.9M195.3M195.3M195.7M198.61M200.5M202.08M203.36M203.64M203.87M
Dividend Payout Ratio-2.29%0.54%0.57%0.48%0.43%0.45%0.48%0.39%0.37%

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+1.02B977.48M1.07B1.18B1.3B1.34B1.55B2.01B1.36B666.26M
Cash & Short-Term Investments84.59M46.11M34.6M53.95M66.46M59.55M54.16M34.83M48.88M50.2M
Cash Only84.59M46.11M34.6M53.95M66.46M59.55M54.16M34.83M48.88M50.2M
Short-Term Investments0000000000
Accounts Receivable582.48M630.24M727.03M722.95M836.61M873.99M946.74M1.06B942.78M274.3M
Days Sales Outstanding50.7255.7259.7258.2357.2257.66100.03222.33190.8256.95
Inventory253.73M238.27M226.58M287.31M278.41M291.17M335.61M64.25M87.39M44.94M
Days Inventory Outstanding25.9625.9522.7228.0323.0823.6944.2718.6524.8313.83
Other Current Assets54.85M14.39M479K430K63.61M68.53M118.69M775.36M256.57M296.81M
Total Non-Current Assets+5.61B5.31B5.26B5.8B6.39B6.72B7.36B7.65B6.47B6.37B
Property, Plant & Equipment4.31B3.93B4.08B4.58B5.03B5.29B5.88B4.85B5.2B5.34B
Fixed Asset Turnover0.97x1.05x1.09x0.99x1.06x1.05x0.59x0.36x0.35x0.33x
Goodwill635.2M631.79M631.79M664.92M681.36M714.96M765.39M488.96M488.96M345.74M
Intangible Assets7.34M5.92M3.84M10.81M15.25M25.5M22.58M4.1M2M0
Long-Term Investments119.7M125.87M137.61M138.62M148.66M165.02M175.48M128.83M124.23M115.46M
Other Non-Current Assets500.37M-56.14M64.97M-19.14M507.63M523.49M515.53M2.18B658.96M567.07M
Total Assets+6.75B6.28B6.33B6.99B7.68B8.05B8.91B9.66B7.83B7.04B
Asset Turnover0.62x0.66x0.70x0.65x0.69x0.69x0.39x0.18x0.23x0.25x
Asset Growth %-0.15%-0.07%0.01%0.1%0.1%0.05%0.11%0.08%-0.19%-0.1%
Total Current Liabilities+947.64M669.66M812.86M986.05M866.43M963.52M1.09B1.48B1.08B678.6M
Accounts Payable286.06M279.96M312.33M358.5M403.39M426.26M478.93M525.56M247.61M150.07M
Days Payables Outstanding29.2730.4931.3134.9833.4434.6963.17152.5870.3446.18
Short-Term Debt238.54M43.6M148.5M251.85M16.54M51.55M148.05M86.32M179.2M161.7M
Deferred Revenue (Current)1000K1000K1000K1000K000000
Other Current Liabilities330.59M232.07M236.58M264.75M142.2M122.08M98.21M582.83M456.95M172.43M
Current Ratio1.08x1.46x1.32x1.20x1.50x1.39x1.42x1.36x1.27x0.98x
Quick Ratio0.81x1.10x1.04x0.91x1.18x1.09x1.11x1.32x1.19x0.92x
Cash Conversion Cycle47.4151.1851.1251.2846.8646.6681.1388.41145.324.6
Total Non-Current Liabilities+3.16B3.3B3.09B3.44B3.97B4.01B4.44B4.59B3.85B3.67B
Long-Term Debt1.56B1.75B1.57B1.86B2.23B2.21B2.59B2.32B2.24B2.13B
Capital Lease Obligations000083.74M86.87M89.25M52.87M51.65M0
Deferred Tax Liabilities720.32M668.23M347.27M430.08M506.58M516.1M591.96M455.5M458.55M441.32M
Other Non-Current Liabilities1.54B883.78M1.18B1.15B1.15B1.2B1.16B1.77B1.1B1.1B
Total Liabilities4.11B3.97B3.91B4.42B4.84B4.97B5.53B6.07B4.93B4.35B
Total Debt+1.92B1.79B1.71B2.11B2.36B2.38B2.87B2.48B2.49B2.29B
Net Debt1.83B1.74B1.68B2.05B2.29B2.32B2.81B2.44B2.44B2.24B
Debt / Equity0.72x0.77x0.71x0.82x0.83x0.77x0.85x0.69x0.86x0.85x
Debt / EBITDA3.98x2.86x2.70x3.39x3.20x2.87x5.42x6.36x6.00x4.92x
Net Debt / EBITDA3.80x2.79x2.64x3.30x3.11x2.80x5.31x6.27x5.88x4.81x
Interest Coverage2.73x4.65x5.18x4.75x4.88x5.65x4.68x2.49x1.97x2.45x
Total Equity+2.65B2.32B2.43B2.57B2.85B3.08B3.38B3.59B2.91B2.69B
Equity Growth %-0.21%-0.12%0.05%0.06%0.11%0.08%0.1%0.06%-0.19%-0.07%
Book Value per Share13.5611.8412.4113.0814.3315.3516.7217.6314.2513.15
Total Shareholders' Equity2.52B2.32B2.43B2.57B2.85B3.08B3.38B3.59B2.91B2.69B
Common Stock195.81M195.84M195.84M196.56M200.92M201.06M203.89M204.16M203.69M203.94M
Retained Earnings996.36M912.28M1.04B1.16B1.34B1.56B1.76B1.95B1.25B1.03B
Treasury Stock-3.63M-3.63M-3.63M-3.63M-3.63M-3.63M-3.63M-3.63M00
Accumulated OCI-37.15M-35.73M-37.33M-38.34M-42.1M-48.08M-41M-30.58M-18.38M-16.8M
Minority Interest124.04M000000000

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+641.14M462.21M448M499.9M542.28M768.37M495.78M510.06M332.63M502.32M
Operating CF Margin %0.15%0.11%0.1%0.11%0.1%0.14%0.14%0.29%0.18%0.29%
Operating CF Growth %0.04%-0.28%-0.03%0.12%0.08%0.42%-0.35%0.03%-0.35%0.51%
Net Income114.69M233.1M284.99M269.39M335.17M390.53M242.52M117.25M414.71M181.07M
Depreciation & Amortization-211.75M216.32M207.49M220.21M00198.24M188.56M213.6M200.08M
Stock-Based Compensation2.9M3.3M2.7M4.6M7.35M13.1M12.86M7.91M6.31M8.42M
Deferred Taxes301K-2.05M-25.42M59.73M63.41M-1.8M27.39M20.19M-4.41M-16.08M
Other Non-Cash Items438.02M229.11M287.48M177.76M196.18M293.41M128.42M194.91M-287.53M83.6M
Working Capital Changes88.13M2.05M-99.05M-6.98M-59.83M73.15M-113.66M-18.75M-10.04M45.22M
Change in Receivables45.85M19.04M-115.41M18.7M-112.24M-2.78M-75.38M-91.19M110.43M-30.31M
Change in Inventory-17.1M2.43M9.13M-46.8M9.33M-7.22M138K243K-27.59M246K
Change in Payables49.12M7.04M26.01M21.11M30.08M15.96M25.51M84.55M-76.68M-443K
Cash from Investing+-382.45M-305.1M-214.2M-710.9M-603.86M-630.24M-885.88M-638.88M-540.79M-552.68M
Capital Expenditures-625.38M-388.18M-341.38M-568.23M-576.07M-558.01M-485.2M-442.58M-519.73M-522.82M
CapEx % of Revenue0.15%0.09%0.08%0.13%0.11%0.1%0.14%0.25%0.29%0.3%
Acquisitions----------
Investments----------
Other Investing241.41M84.48M127.18M25.02M29.81M35.56M-395.05M-193.91M-37.37M-29.86M
Cash from Financing+-255.73M-194.91M-245.3M230.4M74.09M-145.04M384.71M155.17M204.62M40.3M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-142.84M-147.16M-150.73M-154.57M-160.26M-166.41M-171.35M-176.91M-161.32M-102.94M
Share Repurchases----------
Other Financing85.78M-41.17M-757K-2.34M-7.55M-839K276.72M151.78M87.95M111.77M
Net Change in Cash----------
Free Cash Flow+15.77M74.03M106.62M-68.33M-33.78M210.37M10.58M67.48M-187.1M-20.51M
FCF Margin %0%0.02%0.02%-0.02%-0.01%0.04%0%0.04%-0.1%-0.01%
FCF Growth %1.04%3.69%0.44%-1.64%0.51%7.23%-0.95%5.38%-3.77%0.89%
FCF per Share0.080.380.54-0.35-0.171.050.050.33-0.92-0.10
FCF Conversion (FCF/Net Income)-1.03x7.18x1.59x1.84x1.62x1.97x1.31x1.39x0.80x1.79x
Interest Paid0000000000
Taxes Paid0000000000

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)-20.71%2.6%11.85%10.9%12.39%13.17%11.7%10.54%12.78%10.05%
Return on Invested Capital (ROIC)3.87%7.19%7.87%6.9%7.4%7.75%4.28%2.46%2.97%3.88%
Gross Margin14.9%18.82%18.07%17.45%17.49%18.93%19.9%28.05%28.75%32.53%
Net Margin-14.85%1.56%6.33%6.01%6.29%7.05%10.95%21.03%23%15.99%
Debt / Equity0.72x0.77x0.71x0.82x0.83x0.77x0.85x0.69x0.86x0.85x
Interest Coverage2.73x4.65x5.18x4.75x4.88x5.65x4.68x2.49x1.97x2.45x
FCF Conversion-1.03x7.18x1.59x1.84x1.62x1.97x1.31x1.39x0.80x1.79x
Revenue Growth-10.26%-1.5%7.62%1.98%17.77%3.67%-37.56%-49.42%3.21%-2.52%

Revenue by Segment

2015201620172018201920202021202220232024
Natural Gas Transportation--------197.76M235.27M
Natural Gas Transportation Growth---------18.97%
Other Revenues--------91.64M113.33M
Other Revenues Growth---------23.67%
Natural Gas, Storage--------18.25M23.69M
Natural Gas, Storage Growth---------29.78%
Construction services907.77M1.07B-1.37B1.85B2.09B2.05B2.69B--
Construction services Growth-18.17%--34.76%13.26%-1.99%31.46%--
Construction materials and contracting1.9B1.87B-1.93B2.19B2.18B2.23B2.53B--
Construction materials and contracting Growth--1.46%--13.74%-0.55%2.33%13.71%--
Natural gas distribution817.42M766.12M848.39M823.25M865.22M847.65M971.36M1.27B--
Natural gas distribution Growth--6.28%10.74%-2.96%5.10%-2.03%14.59%31.08%--
Electric280.62M322.36M342.81M335.12M351.73M331.54M349.04M376.58M--
Electric Growth-14.87%6.34%-2.24%4.95%-5.74%5.28%7.89%--
Pipeline and Midstream---78.02M84.19M85.35M82.86M96.57M--
Pipeline and Midstream Growth----7.91%1.37%-2.92%16.55%--
Corporate and Other--709K207K90K-55K84K---
Corporate and Other Growth----70.80%-56.52%-161.11%252.73%---
Others1.44M1.41M--------
Others Growth--1.60%--------
Refining178.26M---------
Refining Growth----------

Frequently Asked Questions

Valuation & Price

MDU Resources Group, Inc. (MDU) has a price-to-earnings (P/E) ratio of 14.9x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

MDU Resources Group, Inc. (MDU) reported $1.88B in revenue for fiscal year 2024. This represents a 54% decrease from $4.05B in 2011.

MDU Resources Group, Inc. (MDU) saw revenue decline by 2.5% over the past year.

Yes, MDU Resources Group, Inc. (MDU) is profitable, generating $169.3M in net income for fiscal year 2024 (16.0% net margin).

Dividend & Returns

Yes, MDU Resources Group, Inc. (MDU) pays a dividend with a yield of 2.46%. This makes it attractive for income-focused investors.

MDU Resources Group, Inc. (MDU) has a return on equity (ROE) of 10.0%. This is reasonable for most industries.

MDU Resources Group, Inc. (MDU) had negative free cash flow of $22.3M in fiscal year 2024, likely due to heavy capital investments.

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