MDU
IndustrialsMDU Resources Group, Inc. · Conglomerates · $5B
What is MDU Resources Group, Inc.?
MDU Resources Group operates across two broad areas: regulated energy delivery and construction materials and services. Headquartered in Bismarck, North Dakota, the company serves customers across multiple western and northern US states.
MDU Resources generates revenue through electricity generation and distribution, natural gas distribution, pipeline transportation and storage, and a large construction segment. The construction arm mines aggregates, produces asphalt and ready-mixed concrete, and provides electrical, mechanical, and communication contracting services. The regulated utility side serves residential, commercial, industrial, and municipal customers across Montana, North Dakota, South Dakota, Wyoming, Idaho, Minnesota, Oregon, Washington, and other states.
MDU Resources was established in 1987 and is headquartered in Bismarck, North Dakota.
- Electric generation, transmission, and distribution across four states
- Natural gas distribution serving eight states
- Regulated natural gas pipeline transportation and underground storage
- Construction aggregates, asphalt mix, and ready-mixed concrete
- Electrical, mechanical, and communication contracting services
Is MDU a Good Stock to Buy?
UQS Score rates MDU Resources as Below Average overall.
Among MDU's five pillars, Growth and Valuation both register as Neutral, suggesting the company is not dramatically mispriced relative to its fundamentals and retains some capacity for incremental expansion across its utility and construction segments.
The Quality, Moat, and Risk pillars all score as Weak, pointing to meaningful concerns around earnings durability, competitive positioning, and the financial risk profile of the business.
See the exact pillar breakdown and full financial metrics by signing up for a UQS Pro account. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does MDU pay dividends?
Yes — MDU Resources Group, Inc. pays a dividend.
MDU Resources pays a regular dividend, which is common among regulated utility operators that generate relatively predictable cash flows from rate-regulated businesses. The construction segment adds cyclicality, but the utility foundation tends to support consistent income distributions. Investors focused on dividend income should weigh the Weak Risk pillar rating when assessing payout sustainability.
When does MDU report earnings?
MDU Resources reports earnings on a quarterly cadence, consistent with standard practice for US-listed equities.
Results tend to reflect the seasonal nature of construction activity alongside the more stable contributions from regulated utility operations. The interplay between these two segments can create variability quarter to quarter.
For the most recent quarter's results and upcoming reporting dates, visit MDU Resources Group's investor relations page directly.
MDU Price History
+93.2% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in MDU Resources Group, Inc.?
Based on MDU Resources Group, Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
MDU Long-term Outlook
MDU's Growth pillar registers as Neutral, indicating the company is not positioned for rapid expansion but is not in decline either. The Weak Risk pillar suggests that execution risks — including regulatory changes, construction market cyclicality, and balance sheet pressures — could weigh on the trajectory. The Neutral Valuation pillar means the market appears to be pricing in these mixed fundamentals without a significant premium or discount.
Growth drivers
- Regulated utility rate base expansion across western and northern US service territories
- Infrastructure demand supporting construction materials and contracting services
- Natural gas pipeline and storage utilization in the Rocky Mountain and Great Plains regions
Key risks
- Weak Risk pillar signals elevated financial or operational vulnerability
- Construction segment cyclicality tied to broader economic and infrastructure spending cycles
- Regulatory and environmental pressures on fossil fuel distribution businesses
MDU vs Peers
MDU Resources operates across regulated utilities and construction services, placing it alongside diversified industrial and infrastructure conglomerates.
Griffon focuses on home and building products alongside defense electronics, giving it a different end-market mix compared to MDU's utility and construction aggregate focus.
Icahn Enterprises is a diversified holding company spanning energy, automotive, and real estate, operating at a much broader conglomerate scale than MDU's regional utility and construction footprint.
Brookfield Business Partners targets global business services and industrial operations with a private-equity-style ownership model, contrasting with MDU's regulated domestic utility structure.
Frequently Asked Questions
What does MDU Resources Group do?
MDU Resources operates regulated electric and natural gas utilities across multiple western and northern US states, alongside a large construction segment that produces aggregates, asphalt, and concrete and provides electrical and mechanical contracting services.
Does MDU pay dividends?
Yes, MDU Resources pays a regular dividend. The regulated utility operations provide a relatively stable cash flow base that has historically supported income distributions, though investors should consider the Weak Risk pillar rating when evaluating payout reliability.
When does MDU report earnings?
MDU Resources reports on a quarterly cadence. For exact dates and the most recent results, check the investor relations section of the MDU Resources Group website directly.
Is MDU a good stock to buy?
The UQS Score rates MDU as Below Average, driven by Weak scores across Quality, Moat, and Risk pillars. Growth and Valuation are Neutral. Whether MDU fits your portfolio depends on your risk tolerance and income objectives — the full pillar breakdown is available to UQS Pro members.
Is MDU overvalued?
MDU's Valuation pillar registers as Neutral, suggesting the market is pricing the stock roughly in line with its fundamental profile. It does not appear significantly stretched, but the Weak Quality and Risk pillars temper any straightforward value argument.
How does MDU compare to its competitors?
Compared to diversified peers like Griffon Corporation, Icahn Enterprises, and Brookfield Business Partners, MDU is more regionally focused with a clearer split between regulated utility operations and construction services. Its UQS profile reflects challenges that may differ from those of broader conglomerates.
What is MDU's market cap bracket?
MDU Resources is classified as a mid-cap company, placing it between the largest utility conglomerates and smaller regional operators in terms of overall market size.
Who founded MDU Resources Group?
MDU Resources Group was incorporated in 1987, though its roots trace back to earlier regional utility operations. Detailed founding history is publicly available through the company's official corporate history and investor relations materials.
Is MDU a long-term quality investment?
As a long-term quality indicator, the UQS Score rates MDU as Below Average. The Weak Moat pillar suggests limited durable competitive advantages, and the Weak Risk pillar raises questions about resilience over a full business cycle. Pro members can view the complete analysis.
What is MDU's main competitive advantage?
MDU's most defensible position comes from its regulated utility franchises, which operate under state-granted service territories. However, the Weak Moat pillar rating indicates this structural protection has not translated into a strong overall competitive position by UQS criteria.
What sector does MDU belong to?
MDU Resources is classified in the Industrials sector, reflecting the significant weight of its construction materials and contracting businesses alongside its regulated energy delivery operations.
Is MDU a growth stock or value stock?
With a Neutral Growth pillar and Neutral Valuation pillar, MDU does not fit neatly into either category. It lacks the expansion profile of a growth stock and does not carry a clear valuation discount that would define a classic value opportunity.
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Pro Analysis
MDU — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 18, 2026 | 36.2 | 34.1 | 28.0 | 45.5 | 21.0 | 56.1 | +2.3 |
| May 10, 2026 | 33.9 | 20.7 | 28.0 | 40.8 | 39.7 | 50.5 | -0.5 |
| May 8, 2026 | 34.4 | 20.7 | 28.0 | 41.7 | 39.7 | 52.9 | -0.6 |
| May 7, 2026 | 35.0 | 33.2 | 28.0 | 41.7 | 19.3 | 56.7 | 0.0 |
| May 3, 2026 | 35.0 | 33.2 | 28.0 | 41.7 | 19.3 | 56.1 | -0.2 |
| Apr 26, 2026 | 35.2 | 33.2 | 28.0 | 41.7 | 19.3 | 57.6 | +0.1 |
| Apr 22, 2026 | 35.1 | 33.2 | 28.0 | 41.7 | 19.3 | 57.2 | -0.1 |
| Apr 19, 2026 | 35.2 | 33.2 | 28.0 | 42.0 | 19.3 | 57.5 | 0.0 |
| Apr 18, 2026 | 35.2 | 33.2 | 28.0 | 42.0 | 19.3 | 57.4 | +0.3 |
| Apr 14, 2026 | 34.9 | 33.2 | 28.0 | 42.0 | 19.3 | 55.4 | +0.3 |
MDU — Pillar Breakdown
Quality
— 34.1/100 (25%)MDU Resources Group, Inc. currently shows below-average quality metrics, suggesting challenges with profitability.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 43.7/100 (20%)MDU Resources Group, Inc. shows steady but unspectacular growth, typical for mature companies.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 21.0/100 (15%)MDU Resources Group, Inc. presents elevated risk with concerns around leverage or financial stability.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 54.8/100 (15%)MDU Resources Group, Inc. has a mixed valuation — some metrics suggest fair value while others appear stretched.
Inverse of forward P/E — higher yield means cheaper stock.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 28/100 (25%)MDU Resources Group, Inc. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for MDU.
Score Composition
Financial Data
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How is the MDU UQS Score Calculated?
The UQS (Unified Quality Score) for MDU Resources Group, Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses MDU Resources Group, Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether MDU Resources Group, Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.