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Knife River vs Mdu Resources: revenue, profit, margins and growth compared

Knife River brought in $3.1B of revenue in fiscal 2025, Mdu Resources $1.9B in fiscal 2025. Revenue changed by +8.5% at Knife River and +6.7% at Mdu Resources on the year before, so Knife River grew faster. Knife River kept 5.0% of its revenue as net profit, Mdu Resources 10.2%. Free cash flow was -$69.6M at Knife River and -$297M at Mdu Resources.

Side by side, latest fiscal year

KNFMDU
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$3.1B$1.9B
Revenue growth+8.5%+6.7%
Net income$157.1M$190.4M
Net margin5.0%10.2%
Free cash flow-$69.6M-$297M
Free cash flow margin-2.2%-15.8%
Earnings per share (diluted)$2.76$0.93
Cash$73.8M$28.2M
Debt$1.2B$2.7B
Price to earnings19.820.2
Market value$3.1B$3.9B
Dividend yieldn/a2.88%
Rank by revenue in sector#178 of 451 · Industrials#222 of 451 · Industrials

Over the years

Revenue
KNF FY2021: $2.2BKNF FY2023: $2.5BKNF FY2023: $2.8BKNF FY2024: $2.9BKNF FY2025: $3.1BMDU FY2018: $4.5BMDU FY2019: $5.3BMDU FY2020: $5.5BMDU FY2021: $3.5BMDU FY2022: $1.8BMDU FY2023: $1.8BMDU FY2024: $1.8BMDU FY2025: $1.9BFY18FY19FY20FY21FY22FY23FY24FY25
KNF $3.1BMDU $1.9B
Net income
KNF FY2021: $129.8MKNF FY2023: $116.2MKNF FY2023: $182.9MKNF FY2024: $201.7MKNF FY2025: $157.1MMDU FY2018: $272.3MMDU FY2019: $335.5MMDU FY2020: $390.2MMDU FY2021: $378.1MMDU FY2022: $367.5MMDU FY2023: $414.7MMDU FY2024: $281.1MMDU FY2025: $190.4MFY18FY19FY20FY21FY22FY23FY24FY25
KNF $157.1MMDU $190.4M
Net margin
KNF FY2021: 5.8%KNF FY2023: 4.6%KNF FY2023: 6.5%KNF FY2024: 7.0%KNF FY2025: 5.0%MDU FY2018: 6.0%MDU FY2019: 6.3%MDU FY2020: 7.1%MDU FY2021: 10.9%MDU FY2022: 20.9%MDU FY2023: 23.0%MDU FY2024: 16.0%MDU FY2025: 10.2%FY18FY19FY20FY21FY22FY23FY24FY25
KNF 5.0%MDU 10.2%
Revenue growth
KNF FY2023: +13.7%KNF FY2023: +11.7%KNF FY2024: +2.4%KNF FY2025: +8.5%MDU FY2019: +17.8%MDU FY2020: +3.7%MDU FY2021: -37.6%MDU FY2022: -49.2%MDU FY2023: +2.9%MDU FY2024: -2.6%MDU FY2025: +6.7%FY19FY20FY21FY22FY23FY24FY25
KNF +8.5%MDU +6.7%
Free cash flow
KNF FY2021: $7MKNF FY2023: $29.3MKNF FY2023: $211.4MKNF FY2024: $149.9MKNF FY2025: -$69.6MMDU FY2018: -$68.3MMDU FY2019: -$33.8MMDU FY2020: $210.4MMDU FY2021: $10.6MMDU FY2022: $67.5MMDU FY2023: -$151.5MMDU FY2024: -$20.5MMDU FY2025: -$297MFY18FY19FY20FY21FY22FY23FY24FY25
KNF -$69.6MMDU -$297M

Fiscal years as each company reports them; the two may end in different months.

Questions about Knife River and Mdu Resources

Which is bigger by revenue, Knife River or Mdu Resources?

Knife River is bigger by revenue: $3.1B in fiscal 2025, against $1.9B for Mdu Resources in fiscal 2025.

Which keeps more of its revenue as profit, Knife River or Mdu Resources?

Knife River had a net margin of 5.0% in fiscal 2025; Mdu Resources had 10.2% in fiscal 2025.

Which grew revenue faster, Knife River or Mdu Resources?

In their latest fiscal years revenue changed by +8.5% at Knife River and +6.7% at Mdu Resources.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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