Mdu Resources Group Inc (MDU) Financial Statements
Industry: Natural Gas Distribution
In fiscal 2025, Mdu Resources reported revenue of $1.88B, up 6.7% from $1.76B the year before. Net income was $190.4M (a 10.2% net margin), or $0.93 per diluted share. Operating margin was 15.5%. Operating activities generated $473.4M of cash, leaving -$297.0M of free cash flow. At fiscal year end, Mdu Resources held $7.62B in total assets against $4.85B in total liabilities, including $28.2M of cash and equivalents.
Open the full interactive Mdu Resources financials → Quarterly statements, key ratios, valuation history and price charts.
Mdu Resources Key Stats
| Share Price | $18.64 |
|---|---|
| Market Cap | $3.95B |
| P/E Ratio | 20.0 |
| Dividend Yield | 2.85% |
| Revenue YoY Growth | +6.7% |
| 52-Week Range | $18.39 – $22.48 |
| Shares Outstanding | 209.6 million (basic, 2026 Q2) |
Mdu Resources Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $5.53B | $5.68B | $6.97B | $4.66B | $1.76B | $1.88B |
| Operating Income | $544.9M | $534.2M | $574.0M | $426.0M | $265.6M | $290.4M |
| Pre-Tax Income | $475.1M | $466.7M | $462.1M | $539.9M | $198.7M | $211.0M |
| Income Tax | $84.6M | $88.9M | $94.8M | $59.5M | $17.6M | $19.6M |
| Net Income | $390.2M | $378.1M | $367.5M | $414.7M | $281.1M | $190.4M |
| Diluted EPS | $1.95 | $1.87 | $1.81 | $2.03 | $1.37 | $0.93 |
Mdu Resources Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $315.0M | $534.0M | $606.0M | $375.3M |
| Net Income | $18.3M | $76.3M | $80.8M | $21.2M |
| Diluted EPS | $0.09 | $0.37 | $0.39 | $0.10 |
Mdu Resources Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $59.5M | $54.2M | $80.5M | $77.0M | $66.9M | $28.2M |
| Current Assets | $1.34B | $1.55B | $2.01B | $1.36B | $666.3M | $572.4M |
| Total Assets | $8.05B | $8.91B | $9.66B | $7.83B | $7.04B | $7.62B |
| Current Liabilities | $963.5M | $1.09B | $1.48B | $1.08B | $678.6M | $685.2M |
| Total Long-Term Debt | $2.21B | $2.74B | $2.84B | $2.30B | $2.29B | $2.68B |
| Total Liabilities | $4.97B | $5.53B | $6.07B | $4.93B | $4.35B | $4.85B |
| Shareholders' Equity | $3.08B | $3.38B | $3.59B | $2.91B | $2.69B | $2.77B |
Mdu Resources Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $768.4M | $495.8M | $510.1M | $332.6M | $502.3M | $473.4M |
| Cash From Investing | -$630.2M | -$885.9M | -$638.9M | -$540.8M | -$552.7M | -$780.9M |
| Cash From Financing | -$145.0M | $384.7M | $155.2M | $204.6M | $40.3M | $268.8M |
| Free Cash Flow | $210.4M | -$163.6M | -$146.5M | -$187.1M | -$20.5M | -$297.0M |
| Dividends Paid | $166.4M | $171.4M | $176.9M | $161.3M | $102.9M | $108.2M |
Figures from Mdu Resources' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Mdu Resources financials page for every line item.
Mdu Resources Company Profile
| Ticker | MDU |
|---|---|
| Exchange | NYSE |
| Industry | Natural Gas Distribution |
| Headquarters | Bismarck, North Dakota |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0000067716 |
Frequently Asked Questions
What was Mdu Resources' revenue in fiscal 2025?
Mdu Resources (MDU) reported revenue of $1.88B for fiscal 2025.
What is Mdu Resources' annual revenue history?
Mdu Resources' annual revenue by fiscal year: 2020: $5.53B; 2021: $5.68B; 2022: $6.97B; 2023: $4.66B; 2024: $1.76B; 2025: $1.88B.
What was Mdu Resources' net income in fiscal 2025?
Mdu Resources reported net income of $190.4M for fiscal 2025.
What was Mdu Resources' earnings per share (EPS) in fiscal 2025?
Mdu Resources' diluted EPS was $0.93 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Mdu Resources generate in fiscal 2025?
Mdu Resources generated -$297.0M of free cash flow in fiscal 2025.
What was Mdu Resources' revenue last quarter?
In its most recent reported quarter (2026 Q2), Mdu Resources reported revenue of $375.3M.
How much debt does Mdu Resources have?
Mdu Resources reported $2.68B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Mdu Resources are outstanding?
Mdu Resources reported a weighted average of 209.6 million basic shares outstanding in 2026 Q2.
What is Mdu Resources' market cap?
Based on its latest closing price, Mdu Resources (MDU) has a market capitalization of about $3.95B.
When does Mdu Resources' fiscal year end?
Mdu Resources' fiscal year end, as registered with the SEC, is December 31.
Where is Mdu Resources headquartered?
Mdu Resources lists its business address in Bismarck, North Dakota in its SEC filings.