Forensic Analysis · Materials / Mining & Chemicals · as of Aug 10, 2026

Mdu Resources Group Inc (MDU)

A forensic read on Mdu Resources Group Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

D · Weak — demands caution

Forensic grade

Grey Zone

Financial health

1.6

Distress distance

Clean

Earnings quality

Forensic signals

22.9

P / E (ttm)

6.9%

ROE

$4.3B

Market cap

2.70%

Dividend yield

6.7%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Mdu Resources Group Inc earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 1.6, placing it in the Grey zone. 4 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

3.7%

FY2025

Return on invested capital. Return on invested capital is 3.7% in the latest fiscal year and steady — well below its ~8% cost of capital, so reinvested dollars may be destroying value, not building it.

FCF ($297M)

FY2025

Shareholder returns. Returned $108M to shareholders (buybacks + dividends) in FY2025, but free cash flow was ($297M) after capex — there was no free cash flow to fund the payout from at all, though operating cash flow alone was $473M — 23% of that. The entire return is coming from debt or cash reserves, not cash the business itself generated — a harder case than returns merely running ahead of free cash flow, since here there was none to run ahead of.

+0.3%/yr

FY2022–FY2025

Share count. Diluted share count changed +1% over the last 3 years to FY2025 (+0.3%/yr). Roughly flat — the count is neither shrinking nor growing meaningfully. Per-share value isn't being meaningfully helped or hurt by the count.

-39%

FY2012→FY2013

Dividend — cut. The payout was CUT ~39% in FY2013 (from FY2012) and hasn't been restored since. It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies.

Key fundamentals

Latest Revenue$1.88B

Revenue Growth YoY+6.7%

Revenue CAGR (3yr)+2.4%

Net Margin10.2%

Free Cash Flow-$297.0M

Return on Equity6.9%

Debt / Equity0.97x

The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Mdu Resources Group Inc's actual 10-K/10-Q/8-K filings?

Generate the AI investment read →

No credit card · informational only, not investment advice · see the track record

← Browse all forensic stock analyses

Data from SEC EDGAR public filings · metrics as of Aug 10, 2026. Forensic signals flag probability, not certainty.