Question 1

What is MDU Resources Group's P/B ratio?

Accepted Answer

MDU Resources Group (MDU) P/B ratio is 1.5× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for MDU Resources Group?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For MDU Resources Group specifically, the relevant sector benchmark is the current sector median of 5.0×.

Question 5

Is MDU Resources Group's P/B ratio high or low?

Accepted Answer

MDU Resources Group's P/B ratio of 1.5× is above its own 5-year average of 0.9× and below the sector median of 5.0×. That places the current reading at the 92th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is MDU Resources Group's historical P/B ratio range?

Accepted Answer

In the available daily series, MDU Resources Group (MDU) P/B ratio has ranged from a low of 0.5× in 2009 to a high of 528.4× in 2010. The 5-year average is 0.9× and the 5-year median is 0.8×.

Question 7

What was MDU Resources Group's P/B ratio in 2025?

Accepted Answer

MDU Resources Group (MDU) P/B ratio at the end of 2025 was 1.4×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does MDU Resources Group's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$3.99B	$2.77B	1.4×	+0.1×	Dec 31, 2025
2024	$3.67B	$2.69B	1.4×	+0.6×	Dec 31, 2024
2023	$2.23B	$2.91B	0.8×	+0.1×	Dec 31, 2023
2022	$2.34B	$3.59B	0.7×	-0.1×	Dec 31, 2022
2021	$2.38B	$3.38B	0.7×	+0.1×	Dec 31, 2021
2020	$2.01B	$3.08B	0.7×	-0.1×	Dec 31, 2020
2019	$2.26B	$2.85B	0.8×	+0.1×	Dec 31, 2019
2018	$1.78B	$2.57B	0.7×	-0.1×	Dec 31, 2018
2017	$1.99B	$2.43B	0.8×	-0.1×	Dec 31, 2017
2016	$2.13B	$2.32B	0.9×	+0.4×	Dec 31, 2016
2015	$1.36B	$2.52B	0.5×	+0.0×	Dec 31, 2015
2014	$1.73B	$3.25B	0.5×	-0.2×	Dec 31, 2014
2013	$2.19B	$2.86B	0.8×	+0.2×	Dec 31, 2013
2012	$1.52B	$2.65B	0.6×	+0.0×	Dec 31, 2012
2011	$1.54B	$2.78B	0.6×	+0.0×	Dec 31, 2011
2010	$1.45B	$2.69B	0.5×	-0.1×	Dec 31, 2010
2009	$1.68B	$2.57B	0.7×	+0.1×	Dec 31, 2009
2008	$1.50B	$2.76B	0.5×	-0.2×	Dec 31, 2008
2007	$1.91B	$2.53B	0.8×	-0.1×	Dec 31, 2007
2006	$1.76B	$2.16B	0.8×	+0.0×	Dec 31, 2006
2005	$1.49B	$1.89B	0.8×	+0.1×	Dec 31, 2005
2004	$1.19B	$1.68B	0.7×	+0.0×	Dec 31, 2004
2003	$1.01B	$1.45B	0.7×	+0.2×	Dec 31, 2003
2002	$707.39M	$1.30B	0.5×	-0.1×	Dec 31, 2002
2001	$713.72M	$1.13B	0.6×	—	Dec 31, 2001


Ingersoll Rand (IR)	3.1×
PACCAR (PCAR)	3.1×
Franklin Electric Co. (FELE)	3.0×
Huntington Ingalls Industries (HII)	2.9×
Brady (BRC)	2.9×
Fortive (FTV)	2.9×
Southwest Airlines (LUV)	2.7×
Xylem (XYL)	2.6×
FedEx (FDX)	2.5×
Axon Enterprise (TASR)	2.4×
Builders FirstSource (BLDR)	2.3×
McGrath RentCorp (MGRC)	2.2×
Tennant (TNC)	2.2×
Delta Air Lines (DAL)	2.1×
AGCO (AGCO)	2.0×
Textron (TXT)	1.9×
Archer Aviation (ACHR)	1.9×
United Airlines Holdings (UAL)	1.9×
Alamo Group (ALG)	1.7×
Matthews International (MATW)	1.6×
Amentum Holdings (AMTM)	1.4×
ABM Industries (ABM)	1.4×
Stanley Black & Decker (SWK)	1.2×
Alaska Air Group (ALK)	1.1×
Versant Media Group, Inc. Class A (VSNT)	0.7×

P/B Ratio for MDU Resources Group (MDU)

P/B Ratio daily chart for MDU Resources Group (MDU)

Historical P/B Ratio for MDU Resources Group (MDU) from 2001 to 2025

About P/B Ratio at MDU Resources Group (MDU)

MDU Resources Group P/B Ratio by Year

MDU Resources Group P/B Ratio 2025: 1.4×

MDU Resources Group P/B Ratio 2024: 1.4×

MDU Resources Group P/B Ratio 2023: 0.8×

MDU Resources Group P/B Ratio 2022: 0.7×

MDU Resources Group P/B Ratio 2021: 0.7×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

MDU Resources Group (MDU) Key Financials

P/B Ratio daily chart for MDU Resources Group (MDU)

Historical P/B Ratio for MDU Resources Group (MDU) from 2001 to 2025

About P/B Ratio at MDU Resources Group (MDU)

MDU Resources Group P/B Ratio by Year

MDU Resources Group P/B Ratio 2025: 1.4×

MDU Resources Group P/B Ratio 2024: 1.4×

MDU Resources Group P/B Ratio 2023: 0.8×

MDU Resources Group P/B Ratio 2022: 0.7×

MDU Resources Group P/B Ratio 2021: 0.7×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

+What is MDU Resources Group's P/B ratio?

+How is the P/B ratio calculated?

+What is the P/B ratio?

+What is a good P/B ratio for MDU Resources Group?

+Is MDU Resources Group's P/B ratio high or low?

+What is MDU Resources Group's historical P/B ratio range?

+What was MDU Resources Group's P/B ratio in 2025?

+Why does MDU Resources Group's P/B ratio change over time?

MDU Resources Group (MDU) Key Financials