MDU RESOURCES GROUP INC
MDU · Mining & Quarrying of Nonmetallic Minerals (No Fuels) · 209.0M shares · +1%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: -$694K (gross $5M, SBC $6M)
Reference price $20.84 · est. market cap ~$4.4B — last insider purchase, 2026-02-13 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C66Stable multi-state regulated gas/electric/pipeline utility with solid cash margins but only mid-pack returns.
Strengths
- Strong OCF margin (81.8th pct) and operating margin (72.7th pct) from rate-regulated, recurring revenue
- Diversified, fully regulated franchise with weather-normalization/decoupling mechanisms and data-center demand growth
Risks
- ROE just ~6.9% (50th pct) and ROA 62.5th pct — returns are unremarkable for the rubric
- Weak liquidity (current ratio 0.83, 25th pct) and debt/equity 0.91 (75th pct)
Notable findings
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
15.5%
Net margin
10.2%
Return on equity
6.9%
Return on assets
2.5%
ROIC
4.3%
Revenue growth (QoQ)
13.5%
Net-income growth
-32.3%
Debt / equity
0.9×
Net debt / EBITDA
4.8×
Current ratio
0.8×
EBITDA
$497M
Tangible book value
$2.4B
Cash & investments
$149M
Stock comp / revenue
0.3%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-03-31 | DURKIN MARIAN M | Grant | 157 | — |
| 2026-03-31 | Dosch Vernon A. | Grant | 1.3K | — |
| 2026-02-18 | Senger Garret | Tax withheld | 8.2K | $20.36 |
| 2026-02-18 | Vollmer Jason L | Tax withheld | 37K | $20.36 |
| 2026-02-18 | Sievert Stephanie A | Tax withheld | 10K | $20.36 |
| 2026-02-18 | Kivisto Nicole A | Tax withheld | 36K | $20.36 |
| 2026-02-18 | Jones Anne M | Tax withheld | 12K | $20.36 |
| 2026-02-18 | Johnson Rob L. | Tax withheld | 11K | $20.36 |
| 2026-02-17 | Johnson Rob L. | Grant | 5.8K | — |
| 2026-02-17 | Senger Garret | Grant | 6.9K | — |
| 2026-02-17 | Kivisto Nicole A | Grant | 45K | — |
| 2026-02-17 | Sievert Stephanie A | Grant | 4.5K | — |
| 2026-02-17 | Jones Anne M | Grant | 5.5K | — |
| 2026-02-17 | Foti Anthony Donald | Grant | 8.2K | — |
| 2026-02-17 | Boese Dyke A. | Grant | 3.7K | — |
| 2026-02-17 | Vollmer Jason L | Grant | 15K | — |
| 2026-02-13 | KELLEY CHARLES M | Buy | 5.0K | $20.84 |
| 2025-12-31 | Dosch Vernon A. | Grant | 1.4K | — |
| 2025-12-31 | DURKIN MARIAN M | Grant | 164 | — |
| 2025-11-13 | Patel Priti Rashmikant | Grant | 4.8K | — |
| 2025-11-13 | Miller Tammy J | Grant | 3.0K | — |
| 2025-11-13 | KELLEY CHARLES M | Grant | 3.0K | — |
| 2025-11-13 | JOHNSON DENNIS W | Grant | 7.8K | — |
| 2025-11-13 | Jaeger Douglas W. | Grant | 7.3K | — |
| 2025-11-13 | DURKIN MARIAN M | Grant | 7.3K | — |
| 2025-11-13 | ANDERSON DARREL T | Grant | 8.1K | — |
| 2025-11-13 | Dosch Vernon A. | Grant | 7.3K | — |
| 2025-09-30 | Dosch Vernon A. | Grant | 1.5K | — |
| 2025-09-30 | DURKIN MARIAN M | Grant | 182 | — |
| 2025-09-08 | Vollmer Jason L | Buy | 5.0K | $16.07 |
| 2025-08-19 | Vollmer Jason L | Buy | 5.0K | $16.27 |
| 2025-06-30 | Dosch Vernon A. | Grant | 1.7K | — |
| 2025-06-30 | DURKIN MARIAN M | Grant | 175 | — |
| 2025-05-15 | Boese Dyke A. | I | 7.7K | $16.99 |
| 2025-03-31 | Dosch Vernon A. | Grant | 1.6K | — |
| 2025-03-31 | DURKIN MARIAN M | Grant | 165 | — |
| 2025-02-12 | Jones Anne M | Tax withheld | 11K | $16.83 |
| 2025-02-12 | Johnson Rob L. | Grant | 5.8K | — |
| 2025-02-12 | Johnson Rob L. | Tax withheld | 6.8K | $16.83 |
| 2025-02-12 | Foti Anthony Donald | Grant | 8.5K | — |
| 2025-02-12 | Boese Dyke A. | Grant | 3.4K | — |
| 2025-02-12 | Sievert Stephanie A | Tax withheld | 9.5K | $16.83 |
| 2025-02-12 | Vollmer Jason L | Grant | 17K | — |
| 2025-02-12 | Vollmer Jason L | Tax withheld | 30K | $16.83 |
| 2025-02-12 | Sievert Stephanie A | Grant | 5.0K | — |
| 2025-02-12 | Senger Garret | Grant | 7.5K | — |
| 2025-02-12 | Senger Garret | Tax withheld | 7.5K | $16.83 |
| 2025-02-12 | Kivisto Nicole A | Grant | 46K | — |
| 2025-02-12 | Kivisto Nicole A | Tax withheld | 30K | $16.83 |
| 2025-02-12 | Jones Anne M | Grant | 6.0K | — |
| 2025-02-10 | JOHNSON DENNIS W | Buy | 30K | $16.64 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (0)
Suppliers (2)
- Everus
- WBI Energy Transmission
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-13 | Exec/director change5.05Shareholder voteExhibits | filing ↗ |
| 2026-05-07 | ResultsReg FDExhibits | filing ↗ |
| 2026-02-05 | ResultsReg FDExhibits | filing ↗ |
| 2026-01-16 | Material agreementDebt obligationExhibits | filing ↗ |
| 2025-12-29 | Material agreementOtherExhibits | filing ↗ |
| 2025-12-12 | Material agreementAcquisition/dispositionExhibits | filing ↗ |
| 2025-12-05 | Material agreementOtherExhibits | filing ↗ |
| 2025-11-20 | Reg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-13 | 2026-05-11 | 0000067716-26-000054 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0000067716-26-000045 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0000067716-26-000050 ↗ |
| 10-K | 2026-02-20 | 2025-12-31 | 0000067716-26-000014 ↗ |
| 8-K | 2026-02-05 | 2026-02-05 | 0000067716-26-000008 ↗ |
| 8-K | 2026-01-16 | 2026-01-15 | 0000067716-26-000005 ↗ |
| 8-K | 2025-12-29 | 2025-12-23 | 0001539497-25-003350 ↗ |
| 8-K | 2025-12-12 | 2025-12-11 | 0000067716-25-000095 ↗ |
| 8-K | 2025-12-05 | 2025-12-03 | 0001539497-25-003175 ↗ |
| 8-K | 2025-11-20 | 2025-11-20 | 0000067716-25-000092 ↗ |
| 10-Q | 2025-11-10 | 2025-09-30 | 0000067716-25-000090 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0000067716-25-000087 ↗ |