MDU vs SR
MDU Resources Group Inc. and Spire Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | MDU | SR |
|---|---|---|
| Revenue | $1.9B | $2.5B |
| Net income | $190.4M | $271.7M |
| Gross margin | · | 58.8% |
| Net margin | 10.2% | 11.0% |
| Return on equity | 7.0% | 8.2% |
| Diluted EPS | $0.93 | $4.37 |
| Dividend / share | $0.54 | $3.14 |
| Payout ratio | 56.9% | 67.1% |
| Free cash flow | $-297.0M | $-344.4M |
| Equity | $2.8B | $3.4B |
| Net debt / equity | 0.96× | 1.14× |
| Current ratio | 0.84× | 0.32× |
| Revenue CAGR 5y | −19.5% | 5.9% |
| Profit CAGR 5y | −13.4% | 25.1% |
SR bills 1.3× the revenue of MDU, and keeps more of each dollar of revenue as profit (11.0% against 10.2%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | MDU | SR |
|---|---|---|
| FY2025 | $1.9B | $2.5B |
| FY2024 | $1.8B | $2.6B |
| FY2023 | $1.8B | $2.7B |
| FY2022 | $1.8B | $2.2B |
| FY2021 | $3.5B | $2.2B |
| FY2020 | $5.5B | $1.9B |
| FY2019 | $5.3B | $2.0B |
| FY2018 | $4.5B | $2.0B |
| FY2017 | $4.4B | $1.7B |
| FY2016 | $4.1B | $1.5B |
Bottom line
| Fiscal year | MDU | SR |
|---|---|---|
| FY2025 | $190.4M | $271.7M |
| FY2024 | $281.1M | $250.9M |
| FY2023 | $414.7M | $217.5M |
| FY2022 | $367.5M | $220.8M |
| FY2021 | $378.1M | $271.7M |
| FY2020 | $390.2M | $88.6M |
| FY2019 | $335.5M | $184.6M |
| FY2018 | $272.3M | $214.2M |
| FY2017 | $281.2M | $161.6M |
| FY2016 | $-67.3M | $144.2M |
18 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$601,334,000 | SR |
| FY2024 | −$835,022,000 | SR |
| FY2023 | −$860,493,000 | SR |
| FY2022 | −$444,342,000 | SR |
| FY2021 | +$1,218,936,000 | MDU |
| FY2020 | +$3,677,350,000 | MDU |
| FY2019 | +$3,384,376,000 | MDU |
| FY2018 | +$2,566,552,000 | MDU |
| FY2017 | +$2,702,651,000 | MDU |
| FY2016 | +$2,591,528,000 | MDU |
| FY2015 | +$2,037,652,000 | MDU |
| FY2014 | +$2,487,873,000 | MDU |
| FY2013 | +$2,903,171,000 | MDU |
| FY2012 | +$2,949,931,000 | MDU |
| FY2011 | +$2,474,132,000 | MDU |
| FY2010 | +$2,174,666,000 | MDU |
| FY2009 | +$2,281,303,000 | MDU |
| FY2008 | +$2,794,305,000 | MDU |
The higher-revenue side has changed between MDU and SR over this period. The gap has narrowed since the earliest year compared.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
18 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −0.8 pp | SR |
| FY2024 | +6.3 pp | MDU |
| FY2023 | +14.8 pp | MDU |
| FY2022 | +10.9 pp | MDU |
| FY2021 | −1.2 pp | SR |
| FY2020 | +2.3 pp | MDU |
| FY2019 | −3.2 pp | SR |
| FY2018 | −4.9 pp | SR |
| FY2017 | −3.0 pp | SR |
| FY2016 | −11.0 pp | SR |
| FY2015 | −23.3 pp | SR |
| FY2014 | +2.0 pp | MDU |
| FY2013 | +1.9 pp | MDU |
| FY2012 | −5.6 pp | SR |
| FY2011 | +1.2 pp | MDU |
| FY2010 | +3.0 pp | MDU |
| FY2009 | −6.3 pp | SR |
| FY2008 | +2.3 pp | MDU |
The higher net margin has changed hands between MDU and SR over this period.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
MDU's net margin has been more volatile than SR's over the 18 comparable fiscal years — 8.6 percentage points of standard deviation against 2.9.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between MDU and SR over these 18 fiscal years — MDU led in 9 and SR in 9.
18 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
MDU's return on equity has been more volatile than SR's over the 18 comparable fiscal years — 9.0 percentage points of standard deviation against 2.6.
18 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between MDU and SR over these 18 fiscal years — MDU led in 10 and SR in 8.
18 of 18 comparable fiscal years — a year missing data on either side is not counted.