MDUMDU Resources Group, Inc.
Is the business good?
A genuinely good business: earnings fully cash-backed (1.4×) and margins widening.
Operating profit is fully backed by cash. Conversion is worsening vs a year ago.
Operating margin has widened over the past few years, the business is getting more profitable per dollar of sales.
A balanced mix of margins, efficiency, and leverage. ROE 7% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is MDU?
MDU Resources Group, Inc. earns 4.5% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 4.5 points below what the capital costs: growth destroys value
- Operating margin
- 17%
Operating margin · Utilities - Regulated Gas median 22% · 12 months to Q2 2026
- Cash conversion
- 1.42×
Cash conversion · 2.14× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- +3.1%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2020 | 9.8% |
| FY2021 | 9.6% |
| FY2022 | 12% |
| FY2023 | 12% |
| FY2024 | 15% |
| FY2025 | 15% |
Details›
- Operating margin12 months to Q2 2026
- 17%
- Net margin12 months to Q2 2026
- 11%
- Free cash flow margin
- −21%
- Revenue, trailing twelve months
- $1.83B
- Free cash flow, trailing twelve months
- −$386M
- Net income, trailing twelve months
- $197M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 4.5%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Utilities, Regulated Gas
Ranks #11 of 11 by RyuScore