WallStSmart

MDU Resources Group Inc (MDU)vsNiSource Inc (NI)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

NiSource Inc generates 254% more annual revenue ($6.64B vs $1.88B). NI leads profitability with a 14.0% profit margin vs 10.2%. NI appears more attractively valued with a PEG of 2.20. NI earns a higher WallStSmart Score of 62/100 (C+).

MDU

Buy

61

out of 100

Grade: C+

Growth: 5.3Profit: 5.5Value: 10.0Quality: 3.3
Piotroski: 3/9Altman Z: 0.99

NI

Buy

62

out of 100

Grade: C+

Growth: 6.0Profit: 7.0Value: 8.7Quality: 3.8
Piotroski: 4/9Altman Z: 0.59
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

MDUUndervalued (+52.9%)

Margin of Safety

+52.9%

Fair Value

$43.52

Current Price

$20.55

$22.97 discount

UndervaluedFair: $43.52Overvalued
NIUndervalued (+6.7%)

Margin of Safety

+6.7%

Fair Value

$47.89

Current Price

$45.68

$2.21 discount

UndervaluedFair: $47.89Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

MDU3 strengths · Avg: 8.0/10
Price/BookValuation
1.5x8/10

Reasonable price relative to book value

Operating MarginProfitability
20.2%8/10

Strong operational efficiency at 20.2%

EPS GrowthGrowth
39.4%8/10

Earnings expanding 39.4% YoY

NI3 strengths · Avg: 8.0/10
Price/BookValuation
2.3x8/10

Reasonable price relative to book value

Operating MarginProfitability
27.0%8/10

Strong operational efficiency at 27.0%

Revenue GrowthGrowth
19.8%8/10

19.8% revenue growth

Areas to Watch

MDU4 concerns · Avg: 3.0/10
PEG RatioValuation
2.464/10

Expensive relative to growth rate

Return on EquityProfitability
7.0%3/10

ROE of 7.0% — below average capital efficiency

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

Revenue GrowthGrowth
-0.3%2/10

Revenue declined 0.3%

NI3 concerns · Avg: 2.7/10
PEG RatioValuation
2.204/10

Expensive relative to growth rate

Free Cash FlowQuality
$-133.70M2/10

Negative free cash flow — burning cash

Altman Z-ScoreHealth
0.592/10

Distress zone — elevated risk

Comparative Analysis Report

WallStSmart Research

Bull Case : MDU

The strongest argument for MDU centers on Price/Book, Operating Margin, EPS Growth.

Bull Case : NI

The strongest argument for NI centers on Price/Book, Operating Margin, Revenue Growth. Revenue growth of 19.8% demonstrates continued momentum.

Bear Case : MDU

The primary concerns for MDU are PEG Ratio, Return on Equity, Piotroski F-Score.

Bear Case : NI

The primary concerns for NI are PEG Ratio, Free Cash Flow, Altman Z-Score.

Key Dynamics to Monitor

MDU profiles as a declining stock while NI is a growth play — different risk/reward profiles.

NI carries more volatility with a beta of 0.62 — expect wider price swings.

NI is growing revenue faster at 19.8% — sustainability is the question.

NI generates stronger free cash flow (-134M), providing more financial flexibility.

Bottom Line

NI scores higher overall (62/100 vs 61/100) and 19.8% revenue growth. MDU offers better value entry with a 52.9% margin of safety. Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

MDU Resources Group Inc

UTILITIES · UTILITIES - REGULATED GAS · USA

MDU Resources Group, Inc. is involved in the regulated power supply and construction materials and services businesses in the United States. The company is headquartered in Bismarck, North Dakota.

NiSource Inc

UTILITIES · UTILITIES - REGULATED GAS · USA

NiSource Inc. is one of the largest fully regulated utility companies in the United States. The company is based in Merrillville, Indiana.

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