MDU
MDU Resources Group, Inc.
MDU has slightly lower modeled downside risk, despite its lower overall score.
VRT
Vertiv Holdings Co
VRT has the edge over MDU overall, supported by stronger valuation and stronger modeled upside.
MDU Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Weak | |
| Weak |
MDU's profitability is currently healthy, and its revenue is stable, but its cash flow and balance sheet are weak.
VRT Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
VRT's revenue, profitability, cash flow and balance sheet are all currently strong.
MDU PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 11x | $10.38 | -47% |
| Fair | 15x | $13.52 | -31% |
| Expensive | 19x | $17.53 | -10% |
| Forward | 19x | $19.55 | — |
| Current | 21x | $19.55 | — |
Historical ranges are pointers, not guarantees.
MDU's PE is in its expensive range at 21x. If earnings grow as analysts expect, today's price would be 19x next year's earnings.
VRT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 23x | $210 | — |
| Current | 39x | $210 | — |
| Cheap | 58x | $308 | +47% |
| Fair | 72x | $383 | +83% |
| Expensive | 88x | $472 | +125% |
Historical ranges are pointers, not guarantees.
VRT has the edge over MDU in the historical PE scenario, which offers more potential upside but is not a forecast.
MDU Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Stable | |
| Stable | |
| Limited | |
| High |
Analysts expect MDU's earnings to grow, with its revenue and profitability holding steady.
VRT Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| Moderate |
VRT has the edge over MDU on the outlook, with more favorable revenue and profitability expectations.
MDU Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.02 | +9.5% |
| Q3 2026 | $0.93 | +13% |
| Q2 2026 | $0.95 | -9.5% |
| Q1 2026 | $0.92 | -28% |
| Q4 2025 | $0.93 | -32% |
| Q3 2025 | $0.82 | -58% |
| Q2 2025 | $1.05 | -47% |
| Q1 2025 | $1.28 | -45% |
| Q4 2024 | $1.37 | -33% |
MDU's earnings per share have fallen from their peak: $0.93 over the past year, against $2.33 in early 2024.
VRT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.14 | +71% |
| Q3 2026 | $5.35 | +102% |
| Q2 2026 | $4.42 | +111% |
| Q1 2026 | $3.98 | +131% |
| Q4 2025 | $3.41 | +166% |
| Q3 2025 | $2.65 | +75% |
| Q2 2025 | $2.09 | +62% |
| Q1 2025 | $1.72 | +64% |
| Q4 2024 | $1.28 | +7.6% |
VRT has the edge over MDU on earnings, with more consistent year-over-year improvement.
MDU Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $347.7M | +10% |
| Q2 2026 | $375.3M | +6.9% |
| Q1 2026 | $606M | -10% |
| Q4 2025 | $534M | -0.3% |
| Q3 2025 | $315M | -70% |
| Q2 2025 | $351.2M | -66% |
| Q1 2025 | $674.8M | -44% |
| Q4 2024 | $535.5M | -53% |
MDU's revenue is recovering but still below its 2022 peak: $348M last quarter, up 10% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 14% | +1 points |
| Q2 2026 | 13% | +4.1 points |
| Q1 2026 | 19% | +2.4 points |
| Q4 2025 | 20% | +2.4 points |
| Q3 2025 | 13% | +4 points |
| Q2 2025 | 8.6% | +0.1 points |
| Q1 2025 | 17% | +5.5 points |
| Q4 2024 | 18% | +5.3 points |
MDU's operating margin was 14% last quarter, up 1 points from the same quarter a year ago.
VRT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.3B | +61% |
| Q2 2026 | $3.3B | +24% |
| Q1 2026 | $2.6B | +30% |
| Q4 2025 | $2.9B | +23% |
| Q3 2025 | $2.7B | +29% |
| Q2 2025 | $2.6B | +35% |
| Q1 2025 | $2B | +24% |
| Q4 2024 | $2.3B | +26% |
VRT has the edge over MDU on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 23% | +3.5 points |
| Q2 2026 | 19% | +2.7 points |
| Q1 2026 | 17% | +2.3 points |
| Q4 2025 | 20% | +0.7 points |
| Q3 2025 | 19% | +1.4 points |
| Q2 2025 | 17% | -0.4 points |
| Q1 2025 | 14% | +1.9 points |
| Q4 2024 | 19% | +4.2 points |
VRT has the edge over MDU on profitability, with a higher operating margin.
MDU Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$56.3M | +$65.6M |
| Q2 2026 | $15M | -59% |
| Q1 2026 | $56.8M | -54% |
| Q4 2025 | -$336M | -$274.7M |
| Q3 2025 | -$121.9M | -$104.6M |
| Q2 2025 | $36.5M | +90% |
| Q1 2025 | $124.4M | +220% |
| Q4 2024 | -$61.3M | -815% |
MDU's free cash flow was −$320M over the past year, against −$22M the year before.
VRT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $654.9M | +41% |
| Q2 2026 | $926.5M | +233% |
| Q1 2026 | $654.2M | +145% |
| Q4 2025 | $885.6M | +143% |
| Q3 2025 | $463.5M | +36% |
| Q2 2025 | $277.9M | -19% |
| Q1 2025 | $266.8M | +162% |
| Q4 2024 | $364.5M | +18% |
VRT has the edge over MDU on cash generation, producing positive trailing cash flow while its opponent burns cash.
MDU Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.5% | +1M shares |
| 1 year | +3.6% | +7.4M shares |
| 3 years | +4.3% | +8.8M shares |
| 5 years | +4.7% | +9.5M shares |
| Available history | +6.1% | +12.2M shares |
MDU has 213M diluted shares, up 3.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2024 | $50,000 |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | $4.8M |
VRT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -64.9K shares |
| 1 year | +0.4% | +1.8M shares |
| 3 years | +1.1% | +4.4M shares |
| 5 years | +10% | +36M shares |
| Available history | +63% | +152M shares |
VRT has the edge over MDU on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | $599.9M |
MDU Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.8x | High |
| Q2 2026 | 4.8x | High |
| Q1 2026 | 5.1x | High |
| Q4 2025 | 5.3x | High |
| Q3 2025 | 4.6x | High |
| Q2 2025 | 3.9x | Elevated |
| Q1 2025 | 3.5x | Elevated |
| Q4 2024 | 3.5x | Elevated |
MDU's net debt is about 4.8 years of its operating earnings (EBITDA), up from 4.6 years a year ago.
VRT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | 0.1x | Very low |
| Q1 2026 | 0.3x | Very low |
| Q4 2025 | 0.6x | Very low |
| Q3 2025 | 0.8x | Very low |
| Q2 2025 | 0.7x | Very low |
| Q1 2025 | 0.8x | Very low |
| Q4 2024 | 1.0x | Healthy |
VRT has the edge over MDU on leverage, with a lower net debt burden relative to earnings.
MDU Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 47.9 | Neutral |
| Stochastic | 39.8 | Neutral |
MDU's weekly RSI is 48 (neutral) and its Stochastic is 40 (neutral).
VRT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.0 | Neutral |
| Stochastic | 26.4 | Neutral |
VRT's weekly RSI is 43 (neutral) and its Stochastic is 26 (neutral).
MDU PE vs Industrials Sector
| Metric | MDU | Sector median | Relative |
|---|---|---|---|
| PE | 21x | 24x | 13% below |
| PE % | 89 | 58 | 31 pts above |
MDU has the edge over VRT on valuation relative to its sector.
VRT PE vs Industrials Sector
| Metric | VRT | Sector median | Relative |
|---|---|---|---|
| PE | 39x | 24x | 63% above |
| PE % | 3 | 58 | 55 pts below |
VRT is trading at 39x earnings, a 63% premium to the Industrials sector's median of 24x.
MDU Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $19.0 | 2.7% above |
| 20 week MA | $19.7 | 0.9% below |
| 50 week MA | $20.4 | 4.3% below |
| 100 week MA | $19.0 | 3.1% above |
| 200 week MA | $15.8 | 23% above |
MDU has the edge over VRT on trend strength, trading above more of its moving averages.
VRT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $221.8 | 5.5% below |
| 20 week MA | $254.4 | 18% below |
| 50 week MA | $253.9 | 17% below |
| 100 week MA | $189.1 | 11% above |
| 200 week MA | $123.5 | 70% above |
VRT has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 70% above its 200-week average.
MDU Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $11.2 | $9.78 | -12% |
| 2021 | $9.78 | $11.2 | +15% |
| 2022 | $11.2 | $11.6 | +3.1% |
| 2023 | $11.6 | $11.0 | -5.1% |
| 2024 | $11.0 | $18.2 | +66% |
| 2025 | $18.2 | $19.7 | +8.1% |
| 2026 YTD | $19.7 | $19.6 | -0.7% |
MDU has finished higher in four of the last six years. It's down 0.7% so far in 2026.
VRT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.9 | $18.9 | +73% |
| 2021 | $18.9 | $24.9 | +31% |
| 2022 | $24.9 | $12.8 | -48% |
| 2023 | $12.8 | $48.0 | +275% |
| 2024 | $48.0 | $115.1 | +140% |
| 2025 | $115.1 | $167.6 | +46% |
| 2026 YTD | $167.6 | $209.6 | +25% |
VRT has the edge over MDU on returns for 2026, with the stronger performance.