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Spire vs MDU Resources Group: SR and MDU compared
Spire is the larger company: $420M of revenue in its latest quarter (Q3 FY26) against $348M for MDU Resources Group (Q3 2026). MDU Resources Group is growing faster (+10% against -0.4% a year earlier). MDU Resources Group is more profitable, with an operating margin of 13.7% against 5.6%.
Where the money goes: SR and MDU
Spire (SR) · Q3 FY26
Spire, Q3 FY26: revenue $420M (-0.4% year over year), operating margin 5.6%, net earnings $211M, operating cash flow $122M. The chart follows the revenue to costs, profit and cash.
MDU Resources Group (MDU) · Q3 2026
MDU Resources Group, Q3 2026: revenue $348M (+10% year over year), operating margin 13.7%, net earnings $14.1M, operating cash flow $82.3M. The chart follows the revenue to costs, profit and cash.
| Spire (SR) | MDU Resources Group (MDU) | |
|---|---|---|
| Latest quarter | Q3 FY26 | Q3 2026 |
| Revenue | $420M | $348M |
| Revenue growth, Y/Y | -0.4% | +10% |
| Operating margin | 5.6% | 13.7% |
| Net earnings | $211M | $14.1M |
| Net margin | 50.3% | 4.1% |
| Operating cash flow | $122M | $82.3M |
| Market value | $5.3B | $4.0B |
| P/E | 17.9× | 20.8× |
| Analysts’ mean target | $91.00 | $23.00 |
Questions
Which is bigger, Spire or MDU Resources Group?
Spire is the larger company: $420M of revenue in its latest quarter (Q3 FY26) against $348M for MDU Resources Group (Q3 2026).
Is Spire or MDU Resources Group growing faster?
MDU Resources Group is growing faster (+10% against -0.4% a year earlier).
Which is more profitable, Spire or MDU Resources Group?
MDU Resources Group is more profitable, with an operating margin of 13.7% against 5.6%.
More: Spire earnings · how Spire makes money · MDU Resources Group earnings · how MDU Resources Group makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 5, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.