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Companies / Utilities / MDU Resources Group, Inc.
MDU

MDU Resources Group, Inc.

UtilitiesElectric, Gas & Water
Ticker MDUBISMARCK, NDFiscal year ends DecemberBook value per share $14.12Diluted shares 210.5M

MDU Resources Group, Inc. (NYSE: MDU) is a regulated energy delivery company that generates, transmits and distributes electricity and provides natural gas distribution, transportation and storage services. Its customers include residential, commercial, industrial and municipal users, as well as local distribution… From the company’s description.

Over the twelve months to Sep 30, 2026, MDU Resources Group, Inc. reported revenue of $1.86B and net income of $190.72M. Its operating margin was 17.1%, and operations generated $428.18M in cash. In fiscal 2025, it reported revenue of $1.88B, up 6.7% from fiscal 2024, and net income of $191.41M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-09-30
Sales & profitability
$1.88BFY2025
+6.7% year over year
Last 12 mo $1.86B
15.49%FY2025
+0.4 percentage points
Last 12 mo 17.10%
$191.41MFY2025
+5.7% year over year
Last 12 mo $190.72M
6.87%FY2025
−3.6 percentage points
Last 12 mo 6.48%
Cash & financing
$473.37MFY2025
−5.8% year over year
Last 12 mo $428.18M
$-297.03MFY2025
−1348.5% year over year
Last 12 mo $-320.50M
0.97FY2025
Was 0.85× a year earlier
Last 12 mo 0.87
205.3MFY2025
+0.3% year over year
Last 12 mo 210.5M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What MDU Resources Group, Inc. does

In the company’s own words

MDU Resources Group, Inc. (NYSE: MDU) is a regulated energy delivery company that generates, transmits and distributes electricity and provides natural gas distribution, transportation and storage services. Its customers include residential, commercial, industrial and municipal users, as well as local distribution companies, natural gas marketers and other pipeline customers. The company reports three segments: electric, natural gas distribution and pipeline. Its electric utility serves 185 communities and nearby rural areas, while its natural gas utilities serve 343 communities and nearby rural areas across eight states. The pipeline segment includes regulated natural gas transmission and storage and a non-regulated cathodic-protection services business; transmission and storage accounted for approximately 94% of segment revenue in 2025. In 2025, natural gas distribution served about 1.08 million customers, and the company had 2,096 employees at year-end. MDU separated its construction materials and contracting business, Knife River, in 2023 and its construction services business, Everus, in 2024; both became independent publicly traded companies. Its website is www.mdu.com.

Company details
Sector
Utilities
Industry (SIC)
Electric, Gas & Water
Headquarters
BISMARCK, ND
Fiscal year end
December
CIK
67716
SIC
4924

Financial performance, year by year

Fiscal 2011–2025 · USD
$-713.14M$1.38B$3.48B$5.58B$7.67B201120122013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns MDU Resources Group, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

310
funds hold it
0 of 35
superinvestors hold it
$1.93B
held by funds, at market
42.0%
of shares held by funds

Largest fund holders · MDU Resources Group, Inc.’s weight in each

iShares Core S&P Small-Cap ETF
IJR · iShares Trust
0.24%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.01%of fund net assets
Bridge Builder Large Cap Value Fund
BBVLX · Bridge Builder Trust
0.37%of fund net assets
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.05%of fund net assets
VANGUARD SMALL-CAP VALUE INDEX FUND
VBR · VANGUARD INDEX FUNDS
0.09%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Could not be determined for this company: bond issues.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do MDU Resources Group, Inc. and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of MDU Resources Group, Inc.'s earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in MDU Resources Group, Inc.'s last four quarterly filings that the numbers alone won't show?”
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