MDU: financial statements from SEC

Income statement

Metric	Dec 31, 2025	Dec 31, 2024
Revenue	1.88bn	1.76bn
Selling, general and administrative	433m	414m
Operating expenses	1.58bn	1.49bn
Operating income	290m	266m
Pre-tax income	211m	199m
Income tax	20m	18m
Net income	190m	281m
Earnings per share	0.93	1.38
Earnings per share, diluted	0.93	1.37
Weighted average shares	204m	204m
Weighted average shares, diluted	205m	205m

Metric	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024
Cash and equivalents	53m	28m	76m	59m	60m	67m	88m	79m
Short-term investments	—	—	—	—	—	—	0	0
Receivables	223m	259m	132m	157m	269m	274m	128m	146m
Inventory	19m	39m	44m	20m	18m	45m	45m	21m
Current assets	560m	572m	501m	442m	542m	666m	1.47bn	1.40bn
Property, plant and equipment	6.00bn	5.96bn	5.59bn	5.43bn	5.38bn	5.34bn	5.25bn	5.15bn
Goodwill	346m	346m	346m	346m	346m	346m	346m	346m
Total assets	7.68bn	7.62bn	7.19bn	6.95bn	6.96bn	7.04bn	8.17bn	7.96bn
Current liabilities	718m	685m	667m	595m	635m	679m	1.28bn	1.15bn
Short-term debt	215m	145m	165m	137m	162m	162m	87m	62m
Long-term debt	2.38bn	2.53bn	2.19bn	2.05bn	2.03bn	2.13bn	2.23bn	2.21bn
Equity	2.90bn	2.77bn	2.72bn	2.73bn	2.74bn	2.69bn	3.06bn	3.02bn
Shares outstanding	—	204m	204m	204m	204m	204m	204m	204m
Shares issued	209m	204m	204m	204m	204m	204m	204m	204m

Metric	Dec 31, 2025	Dec 31, 2024
Operating cash flow	473m	502m
Depreciation and amortisation	207m	200m
Share-based compensation	7m	8m
Capital expenditure	770m	523m
Investing cash flow	−781m	−553m
Dividends paid	108m	103m
Share buybacks	0	0
Financing cash flow	269m	40m