MDU Resources Group Inc (MDU)
Debt-to-equity ratio
Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long-term debt | US$ in thousands | 2,236,900 | 2,279,830 | 2,246,100 | 2,769,040 | 2,317,850 | 2,192,410 | 2,003,880 | 2,599,810 | 2,593,850 | 2,326,720 | 2,335,500 | 2,251,720 | 2,211,580 | 2,268,730 | 2,265,320 | 2,438,680 | 2,226,570 | 2,180,950 | 2,327,980 | 1,946,180 |
Total stockholders’ equity | US$ in thousands | 2,905,230 | 2,757,430 | 2,706,190 | 3,575,380 | 3,587,130 | 3,491,860 | 3,386,810 | 3,360,720 | 3,382,870 | 3,332,280 | 3,198,800 | 3,100,310 | 3,079,100 | 3,012,760 | 2,897,690 | 2,836,590 | 2,847,250 | 2,795,610 | 2,660,300 | 2,605,690 |
Debt-to-equity ratio | 0.77 | 0.83 | 0.83 | 0.77 | 0.65 | 0.63 | 0.59 | 0.77 | 0.77 | 0.70 | 0.73 | 0.73 | 0.72 | 0.75 | 0.78 | 0.86 | 0.78 | 0.78 | 0.88 | 0.75 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $2,236,900K ÷ $2,905,230K
= 0.77
The debt-to-equity ratio of MDU Resources Group Inc has been fluctuating over the past eight quarters, ranging from 0.82 to 0.96. A decreasing trend is noticeable from Q4 2022 to Q2 2023, with the ratio declining steadily from 0.86 to 0.89, before slightly increasing to 0.94 in Q1 2023. Despite this uptick, the ratio remains below 1, indicating that the company is primarily financed by equity rather than debt. Overall, the company's debt-to-equity ratio suggests a balanced capital structure, with a conservative approach towards leveraging through debt.
Peer comparison
Dec 31, 2023
Company name
Symbol
Debt-to-equity ratio
MDU Resources Group Inc
MDU
0.77
Compass Minerals International Inc
CMP
2.47
Knife River Corporation
KNF
0.53
Martin Marietta Materials Inc
MLM
0.49
Vulcan Materials Company
VMC
0.52