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