MDU vs. NI

Last updated Apr 1, 2026

Compare and contrast key facts about MDU Resources Group, Inc. (MDU) and NiSource Inc. (NI).

Performance

MDU vs. NI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MDU Resources Group, Inc. (MDU) and NiSource Inc. (NI). The values are adjusted to include any dividend payments, if applicable.

MDU vs. NI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MDU MDU Resources Group, Inc.	6.86%	11.77%	68.01%	-1.94%	1.46%	20.37%	-8.31%	28.44%	-8.64%	-3.87%
NI NiSource Inc.	12.50%	16.81%	43.48%	0.48%	2.67%	24.75%	-14.87%	13.03%	1.92%	19.28%

Fundamentals

Market Cap MDU : $4.26B NI : $22.14B
EPS MDU : $0.93 NI : $1.96
PE Ratio MDU : 22.35 NI : 23.77
PS Ratio MDU : 2.27 NI : 3.33
PB Ratio MDU : 1.57 NI : 2.34
Total Revenue (TTM) MDU : $1.88B NI : $6.64B
Gross Profit (TTM) MDU : $560.03M NI : $3.52B
EBITDA (TTM) MDU : $519.38M NI : $3.02B

Returns By Period

In the year-to-date period, MDU achieves a 6.86% return, which is significantly lower than NI's 12.50% return. Over the past 10 years, MDU has outperformed NI with an annualized return of 14.18%, while NI has yielded a comparatively lower 10.42% annualized return.

MDU

• 1D: 0.58%
• 1M: 0.87%
• YTD: 6.86%
• 6M: 17.96%
• 1Y: 26.28%
• 3Y*: 24.82%
• 5Y*: 14.60%
• 10Y*: 14.18%

NI

• 1D: 0.34%
• 1M: -1.35%
• YTD: 12.50%
• 6M: 9.22%
• 1Y: 19.60%
• 3Y*: 22.56%
• 5Y*: 18.03%
• 10Y*: 10.42%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

MDU vs. NI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MDU

MDU Risk / Return Rank: 77
MDU Sharpe Ratio Rank: 78
MDU Sortino Ratio Rank: 71
MDU Omega Ratio Rank: 70
MDU Calmar Ratio Rank: 85
MDU Martin Ratio Rank: 80

NI

NI Risk / Return Rank: 73
NI Sharpe Ratio Rank: 75
NI Sortino Ratio Rank: 65
NI Omega Ratio Rank: 65
NI Calmar Ratio Rank: 80
NI Martin Ratio Rank: 80

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MDU vs. NI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MDU Resources Group, Inc. (MDU) and NiSource Inc. (NI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	MDU	NI	Difference
Sharpe ratio Return per unit of total volatility	1.15	1.00	+0.15
Sortino ratio Return per unit of downside risk	1.58	1.36	+0.23
Omega ratio Gain probability vs. loss probability	1.21	1.18	+0.03
Calmar ratio Return relative to maximum drawdown	2.91	2.20	+0.71
Martin ratio Return relative to average drawdown	5.83	5.84	-0.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MDU vs. NI - Sharpe Ratio Comparison

The current MDU Sharpe Ratio is 1.15, which is comparable to the NI Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of MDU and NI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MDU	NI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.15	1.00	+0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.91	-0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	0.45	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.35	+0.10

Correlation

The correlation between MDU and NI is 0.43, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

MDU vs. NI - Dividend Comparison

MDU's dividend yield for the trailing twelve months is around 2.65%, more than NI's 2.44% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MDU MDU Resources Group, Inc.	2.65%	2.77%	1.89%	3.16%	2.88%	2.77%	3.17%	2.74%	3.33%	2.88%	2.62%	4.01%
NI NiSource Inc.	2.44%	2.68%	2.88%	3.77%	3.43%	3.19%	3.66%	2.87%	3.08%	2.73%	2.89%	4.25%

Drawdowns

MDU vs. NI - Drawdown Comparison

The maximum MDU drawdown since its inception was -62.17%, smaller than the maximum NI drawdown of -66.51%. Use the drawdown chart below to compare losses from any high point for MDU and NI.

Drawdown Indicators

	MDU	NI	Difference
Max Drawdown Largest peak-to-trough decline	-62.17%	-66.51%	+4.34%
Max Drawdown (1Y) Largest decline over 1 year	-9.70%	-9.14%	-0.56%
Max Drawdown (5Y) Largest decline over 5 years	-25.24%	-24.76%	-0.48%
Max Drawdown (10Y) Largest decline over 10 years	-51.41%	-30.95%	-20.46%
Current Drawdown Current decline from peak	-2.25%	-1.89%	-0.36%
Average Drawdown Average peak-to-trough decline	-14.39%	-19.49%	+5.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.84%	3.44%	+1.40%

Volatility

MDU vs. NI - Volatility Comparison

MDU Resources Group, Inc. (MDU) has a higher volatility of 6.76% compared to NiSource Inc. (NI) at 5.78%. This indicates that MDU's price experiences larger fluctuations and is considered to be riskier than NI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MDU	NI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.76%	5.78%	+0.98%
Volatility (6M) Calculated over the trailing 6-month period	14.84%	11.69%	+3.15%
Volatility (1Y) Calculated over the trailing 1-year period	22.96%	19.63%	+3.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.92%	19.94%	+2.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.10%	23.17%	+3.93%

Financials

MDU vs. NI - Profitability Comparison

The chart below illustrates the profitability comparison between MDU Resources Group, Inc. and NiSource Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

MDU - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, MDU Resources Group, Inc. reported a gross profit of 136.20M and revenue of 534.00M. Therefore, the gross margin over that period was 25.5%.

NI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, NiSource Inc. reported a gross profit of 1.11B and revenue of 1.90B. Therefore, the gross margin over that period was 58.1%.

MDU - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, MDU Resources Group, Inc. reported an operating income of 107.40M and revenue of 534.00M, resulting in an operating margin of 20.1%.

NI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, NiSource Inc. reported an operating income of 515.50M and revenue of 1.90B, resulting in an operating margin of 27.1%.

MDU - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, MDU Resources Group, Inc. reported a net income of 76.30M and revenue of 534.00M, resulting in a net margin of 14.3%.

NI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, NiSource Inc. reported a net income of 257.80M and revenue of 1.90B, resulting in a net margin of 13.6%.