MDU Resources (MDU) revenue breakdown
By segment, Natural gas distribution is the largest at 68% of fiscal 2025 revenue; Pipeline grew fastest, 10% a year over 7 years.
By product, Revenues from contracts with customers is the largest at 99% of fiscal 2022 revenue, growing 12% a year over 4 years.
Revenue by segment
Fiscal years, as MDU Resources reports them in its 10-K filings; fiscal 2025 total $1.9B.
| Segments | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|
| Natural gas distribution | $823M | $865M | $848M | $963M | $1.3B | $1.3B | $1.2B | $1.3B | 68% |
| Electric | $335M | $352M | $332M | $356M | $382M | $411M | $422M | $444M | 24% |
| Pipeline | $78M | $84M | $85M | $83M | $96M | $115M | $142M | $154M | 8% |
| Construction materials and contracting | $1.9B | $2.2B | $2.2B | — | — | — | — | — | — |
| Construction services | $1.4B | $1.8B | $2.1B | $2.0B | — | — | — | — | — |
| Other | — | — | — | $84,000 | — | — | — | — | — |
| Other | $207,000 | $90,000 | -$55,000 | — | — | — | — | — | — |
Revenue by product
Fiscal years, as MDU Resources reports them in its 10-K filings; fiscal 2022 total $7.0B.
| Products | 2018 | 2019 | 2020 | 2021 | 2022 | Share |
|---|---|---|---|---|---|---|
| Revenues from contracts with customers | $4.5B | $5.3B | $5.5B | $5.6B | $6.9B | 99% |
| Other revenues | $62M | $55M | $61M | $52M | $41M | 1% |
| Natural Gas Gathering | — | — | $5M | — | — | — |
| Natural gas gathering | — | $9M | — | — | — | — |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for MDU.
Open MDU in InvestinglyQuestions
Where does MDU Resources make its money?
In fiscal 2025, by segment: Natural gas distribution $1.3B, Electric $444M, Pipeline $154M.
From MDU Resources's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.