MDU Resources Group Inc (MDU) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of MDU Resources Group Inc stock $14.25, price $18.63, that is 23.5% below the price, quality 42 out of 100. Rating: overvalued. Calculated from audited financials with 14 of our 26 valuation models and 37 quality factors, updated daily.
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MDU Resources Group Inc
MDU · USOur calculation puts a fair price 24% below what the stock costs today.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range $8.40 – $22.48 · fair‑value band $10.90 – $15.64 · the $18.63 price screens above the $14.25 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Company profile
MDU Resources Group, Inc. engages in the regulated energy delivery businesses in the United States. The company operates through three segments: Electric, Natural Gas Distribution, and Pipeline.
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It generates, transmits, and distributes electricity in Montana, North Dakota, South Dakota, and Wyoming through approximately 3,400 miles of transmission and 4,900 miles of distribution lines, as well as 86 transmission and 299 distribution substations.
The company also distributes natural gas in Idaho, Minnesota, Montana, North Dakota, Oregon, South Dakota, Washington, and Wyoming through approximately 22,000 miles of distribution and 540 miles transmission systems; and supplies related value-added services.
In addition, it provides natural gas transportation and underground storage services through a regulated pipeline system primarily in the Rocky Mountain and northern Great Plains regions; and cathodic protection non-regulated energy-related services.
Further, the company offers transportation and storage services. MDU Resources Group, Inc. was incorporated in 1924 and is headquartered in Bismarck, North Dakota.
Stock analysis
MDU Resources Group Inc (MDU) currently trades at $18.63, while our model-based Fair Value estimate is $14.25, 24% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $12.63 per share, and 1 of the 14 models we run sit above the $18.63 price.
Bear case: the Dividend Discount group reads lowest at $7.00, and 13 of the 14 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $10.90 (bear) to $15.64 (bull), the price of $18.63 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 42/100 (below-average quality), in the Utilities sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
MDU Resources Group Inc reported revenue of $1.9B in FY2025 versus $3.5B in FY2021, a compound −14.2%/yr. Reported net income was $190M in FY2025, compounding −15.8%/yr from FY2021.
Key figures
Market cap $3.9B Mid · P/E ratio 20.5 · P/S ratio 2.12 · EPS (TTM) $0.9100 · Dividend yield 0.8% · Net margin 10.3% · Return on equity 6.9% · Return on assets (EBIT) 3.2% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 45 out of 100 (low confidence).
What moves the price
The share trades about 17% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −21% fair-value upside, at −24%, MDU screens richer than that median.
Fair Value models
All 14 models by family
The fair value above starts from this blend and is adjusted for a cyclical trough year.
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Insider trades
In the last 6 months, no officer or director bought or sold shares on the open market.
- BuyCharles M KelleyDirector5,000 shares at $20.85$104,250Feb 13, 2026
Plus 4 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Source: SEC Form 4, as of Nov 6, 2026. All filings at the SEC ↗
Revenue & earnings trend
MDU screens overvalued: fair value 24% below the price. Compare with Naturgy Energy Group →
Earlier news
- MDU Resources (MDU) Earnings Expected to Grow: Should You Buy?
- MDU Resources to Webcast Third Quarter 2026 Earnings Conference Call
- Did MDU’s (MDU) 350-Mile Bakken East Pipeline Bet Just Reframe Its Infrastructure Investment Narrative?
Compare MDU Resources Group Inc with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Utilities - Regulated Gas · 107 stocks
Valuation Multiplesvs Utilities - Regulated Gas median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Utilities sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Dividend yield by industry
- EV/EBITDA by industry
- Piotroski F-Score screener with fair value
- Undervalued stocks: Utilities
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Utilities - Regulated Gas stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| ENN Natural Gas Co 600803 | ¥21.31 | ¥24.00 | +13% | vs MDU |
| Italgas S.p.A IG | €9.12 | €10.07 | +10% | vs MDU |
| Uniper SE UN0 | €44.00 | €45.97 | +4% | vs MDU |
| Naturgy Energy Group NTGY | €29.54 | €30.62 | +4% | vs MDU |
| UGI Corporation UGI | $37.04 | $29.40 | −21% | vs MDU |
| The Hong Kong and China Gas Company 0003 | HK$7.40 | HK$4.93 | −33% | vs MDU |
| GAIL (India) Limited GAIL | ₹185.79 | ₹116.94 | −37% | vs MDU |
| Snam S.p.A SRG | €6.20 | €3.65 | −41% | vs MDU |
| NiSource Inc NI | $44.15 | $19.87 | −55% | vs MDU |
| Atmos Energy Corporation ATO | $173.22 | $77.35 | −55% | vs MDU |
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Key figures of MDU Resources Group Inc
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