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MDU Resources GroupMDU -1.85%77 Cyclically Adjusted PB Ratio is 1.18 as of Aug. 21, 2026, which is 69% above its 10-year median of 0.70. GuruFocus rates MDU with a GF Score™ of 77/100 and a GF Value™ of $18.25 (Fairly Valued). The stock has 5 warning signs investors should review. Among 427 Utilities - Regulated companies, MDU Resources Group ranks better than 61.12% on this metric.
The historical rank and industry rank for MDU Resources Group's Cyclically Adjusted PB Ratio or its related term are showing as below:
MDU'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.47 Med: 0.7 Max: 1.35
Current: 1.2
During the past years, MDU Resources Group's highest Cyclically Adjusted PB Ratio was 1.35. The lowest was 0.47. And the median was 0.70.
MDU's Cyclically Adjusted PB Ratio is ranked better than 61.12% of 427
companies
in the Utilities - Regulated industry
Industry Median: 1.53
vs MDU: 1.20
The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.
MDU Resources Group's adjusted book value per share data for the three months ended in Jun. 2026 was $13.915. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is $16.94 for the trailing ten years ended in Jun. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
MDU Resources Group (NYSE:MDU) Cyclically Adjusted PB Ratio Explanation
Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.
MDU Resources Group Cyclically Adjusted PB Ratio Related Terms
MDU Resources Group Cyclically Adjusted PB Ratio Historical Data
* Premium members only.
The historical data trend for MDU Resources Group's Cyclically Adjusted PB Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MDU Resources Group Cyclically Adjusted PB Ratio Chart
MDU vs SR, OGS, CPK: Cyclically Adjusted PB Ratio Comparison
For the Utilities - Regulated Gas subindustry, MDU Resources Group's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
MDU Resources Group Cyclically Adjusted PB Ratio vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, MDU Resources Group's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where MDU Resources Group's Cyclically Adjusted PB Ratio falls into.
MDU Resources Group Cyclically Adjusted PB Ratio Calculation
Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.
MDU Resources Group's Cyclically Adjusted PB Ratio for today is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
What does a Cyclically Adjusted PB Ratio of 1.18 mean?
MDU Resources Group (MDU) has a Cyclically Adjusted PB Ratio of 1.18 as of Aug. 21, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on MDU Resources Group and its competitors. This is 69% above median its historical median of 0.70. Over the past decade, MDU Resources Group's Cyclically Adjusted PB Ratio has ranged from 0.47 to 1.35. According to the industry distribution chart, MDU Resources Group ranks #166 out of 427 companies in the Utilities - Regulated industry, placing it in the top 38.9%.
Is MDU Resources Group's Cyclically Adjusted PB Ratio too high?
MDU Resources Group's current Cyclically Adjusted PB Ratio of 1.18 is 69% above median its 10-year median of 0.70. Over the past 10 years, this metric has ranged from a low of 0.47 to a high of 1.35. The Utilities - Regulated industry median Cyclically Adjusted PB Ratio is 1.53. MDU Resources Group's value of 1.18 is 22.9% below this industry median. Based on the distribution chart, MDU Resources Group ranks #166 out of 427 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, MDU Resources Group has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does MDU Resources Group's Cyclically Adjusted PB Ratio compare to SR and OGS?
According to the Utilities - Regulated industry distribution chart, MDU Resources Group ranks #166 out of 427 companies for Cyclically Adjusted PB Ratio. This puts MDU Resources Group in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.53. MDU Resources Group's value of 1.18 is 22.9% below this benchmark. Historically, MDU Resources Group's own Cyclically Adjusted PB Ratio has ranged from 0.47 to 1.35 over the past decade. While the company's 10-year median is 0.70 vs. the industry median of 1.53, MDU Resources Group has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for an Utilities - Regulated company?
The median Cyclically Adjusted PB Ratio among Utilities - Regulated companies is 1.53, based on 427 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. MDU Resources Group's current Cyclically Adjusted PB Ratio of 1.18 is 22.9% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on MDU Resources Group and its competitors. For the Utilities - Regulated industry, the median Cyclically Adjusted PB Ratio is 1.53 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. MDU Resources Group's current Cyclically Adjusted PB Ratio is 1.18, which is 69% above median its own 10-year median of 0.70. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MDU Resources Group stock overvalued right now?
Based on GuruFocus' analysis, MDU Resources Group (MDU) is currently considered Fairly Valued. The stock's GF Value™ is $18.25, compared to a current price of $19.94 — trading 9.2% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.18, which is 69% above median its 10-year median of 0.70 and 22.9% below the Utilities - Regulated industry median of 1.53. MDU Resources Group's overall GF Score™ is 77/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For MDU Resources Group (MDU), the current Cyclically Adjusted PB Ratio is 1.18 as of Aug. 21, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is MDU Resources Group (MDU) Overvalued in 2026?
Based on GuruFocus' analysis, MDU Resources Group stock appears to be overvalued.
The current stock price of $19.94 is trading 9.2% above its estimated GF Value™ of $18.25.
GuruFocus considers MDU Resources Group to be Fairly Valued.
Key valuation signals for MDU:
Cyclically Adjusted PB Ratio: 1.18 (69% above median its 10-year median of 0.70)
GF Value™: $18.25 vs. price of $19.94 (9.2% above fair value)
Industry Position: 22.9% below the Utilities - Regulated median (#166 of 427)
No single metric tells the full story. See the MDU stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
MDU Resources Group Inc is a pure-play regulated energy delivery business. It is organized into three reportable business segments: Electric, Natural Gas Distribution, and Pipeline. Maximum revenue is generated from the Pipeline segment, which provides natural gas transportation and underground storage services through a FERC-regulated pipeline system mainly in the Rocky Mountain and northern Great Plains regions of the United States. This segment also provides non-regulated energy-related services, including cathodic protection. The electric segment generates, transmits, and distributes electricity in Montana, North Dakota, South Dakota, and Wyoming, and the natural gas distribution segment distributes natural gas in those states, as well as in Idaho, Minnesota, Oregon, and Washington.
77GF Score
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