NewJersey Resources (NJR) Financials

$58.24 +0.62 (+1.08%)

Closing price 05/19/2026 03:59 PM Eastern

Extended Trading

$58.19 -0.05 (-0.09%)

As of 05/19/2026 05:44 PM Eastern

Annual Income Statements for NewJersey Resources

This table shows NewJersey Resources' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Net Income / (Loss) Attributable to Common Shareholders	181	132	132	233	124	163	118	275	265	290	336
Consolidated Net Income / (Loss)	181	132	132	233	124	163	118	275	265	290	336
Net Income / (Loss) Continuing Operations	181	132	132	233	124	163	118	275	265	290	336
Total Pre-Tax Income	227	146	137	167	129	185	234	343	310	369	427
Total Operating Income	248	168	171	200	165	229	288	406	407	458	509
Total Gross Profit	648	742	524	648	556	655	812	964	991	1,087	1,143
Total Revenue	2,734	1,881	2,269	2,915	2,592	1,954	2,157	2,906	1,963	1,797	2,036
Operating Revenue	2,734	1,881	2,269	2,915	2,592	1,954	2,157	2,906	1,963	1,797	2,036
Total Cost of Revenue	2,086	1,139	1,745	2,267	2,036	1,299	1,345	1,942	972	710	893
Operating Cost of Revenue	2,086	1,139	1,745	2,267	2,036	1,299	1,345	1,942	972	710	893
Total Operating Expenses	400	574	353	448	391	426	524	558	584	629	634
Selling, General & Admin Expense	209	208	222	315	268	278	367	362	374	395	411
Depreciation Expense	61	73	82	86	81	107	111	129	153	167	189
Other Operating Expenses / (Income)	129	293	49	47	42	41	45	67	58	67	93
Other Special Charges / (Income)	-	-	-	-	-	-	-	-	0.00	0.00	-58
Total Other Income / (Expense), net	-21	-22	-35	-33	-36	-44	-54	-64	-97	-89	-82
Interest Expense	28	31	45	46	47	68	79	86	123	130	129
Other Income / (Expense), net	6.55	9.20	10	13	11	24	25	22	26	42	46
Income Tax Expense	60	24	18	-54	18	36	33	76	49	85	97
Other Gains / (Losses), net	13	9.52	14	13	14	14	-83	8.18	3.93	5.30	6.07
Basic Earnings per Share	$2.12	$1.53	$1.53	$2.66	$1.39	$1.72	$1.23	$2.86	$2.73	$2.94	$3.35
Weighted Average Basic Shares Outstanding	85.19M	85.88M	86.32M	87.69M	89.24M	94.80M	96.23M	96.10M	97.03M	98.63M	100.24M
Diluted Earnings per Share	$2.10	$1.52	$1.52	$2.64	$1.38	$1.71	$1.22	$2.85	$2.71	$2.92	$3.33
Weighted Average Diluted Shares Outstanding	86.27M	86.73M	87.14M	88.32M	89.60M	95.10M	96.56M	96.49M	97.63M	99.29M	100.79M
Weighted Average Basic & Diluted Shares Outstanding	42.70M	86.10M	43.20M	87.80M	89.20M	96.13M	95.95M	96.39M	97.71M	99.77M	100.74M
Cash Dividends to Common per Share	$0.92	$0.98	$1.04	$1.11	$1.19	$1.27	$1.36	$1.48	$1.59	$1.71	$1.83

This table shows NewJersey Resources' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	37	89	121	-12	91	131	204	-15	15	122	219
Consolidated Net Income / (Loss)	37	89	121	-12	91	131	204	-15	15	122	219
Net Income / (Loss) Continuing Operations	37	89	121	-12	91	131	204	-15	15	122	219
Total Pre-Tax Income	42	111	154	-16	120	167	264	-22	17	155	282
Total Operating Income	64	136	170	5.94	146	190	280	-1.06	40	179	301
Total Gross Profit	209	292	349	161	287	293	488	158	204	350	524
Total Revenue	331	467	658	276	396	488	913	299	336	605	939
Operating Revenue	331	467	658	276	396	488	913	299	336	605	939
Total Cost of Revenue	122	176	309	114	109	195	425	141	132	255	415
Operating Cost of Revenue	122	176	309	114	109	195	425	141	132	255	415
Total Operating Expenses	145	156	178	155	141	103	208	159	164	171	223
Selling, General & Admin Expense	101	94	107	104	89	89	111	100	111	87	112
Depreciation Expense	39	40	40	41	45	45	48	47	48	50	50
Other Operating Expenses / (Income)	4.76	21	31	10	7.11	24	50	12	6.54	34	61
Other Special Charges / (Income)	-	0.00	0.00	0.00	-	-55	-0.69	-0.55	-2.11	0.00	0.00
Total Other Income / (Expense), net	-22	-25	-16	-22	-26	-22	-16	-21	-24	-24	-19
Interest Expense	33	31	32	31	36	34	33	32	30	36	35
Other Income / (Expense), net	11	6.34	15	9.56	10	12	17	11	6.58	11	16
Income Tax Expense	6.22	23	34	-2.76	31	37	62	-5.14	3.12	34	66
Other Gains / (Losses), net	1.15	1.66	0.74	1.34	1.56	1.40	1.45	1.52	1.69	1.82	2.74
Basic Earnings per Share	$0.37	$0.91	$1.23	($0.12)	$0.92	$1.32	$2.04	($0.15)	$0.14	$1.22	$2.17
Weighted Average Basic Shares Outstanding	97.03M	97.87M	98.38M	98.98M	98.63M	99.86M	100.29M	100.37M	100.24M	100.70M	100.85M
Diluted Earnings per Share	$0.37	$0.91	$1.22	($0.12)	$0.91	$1.31	$2.02	($0.15)	$0.15	$1.21	$2.16
Weighted Average Diluted Shares Outstanding	97.63M	98.56M	99.10M	98.98M	99.29M	100.48M	100.93M	100.37M	100.79M	101.23M	101.48M
Weighted Average Basic & Diluted Shares Outstanding	97.71M	98.30M	98.82M	99.17M	99.77M	100.29M	100.37M	100.45M	100.74M	100.85M	100.92M
Cash Dividends to Common per Share	-	$0.42	$0.42	$0.42	-	$0.45	$0.45	$0.45	-	$0.48	$0.48

This table details how cash moves in and out of NewJersey Resources' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Net Change in Cash & Equivalents	2.78	33	-37	-0.76	2.35	115	-113	-4.59	0.07	0.10	0.04
Net Cash From Operating Activities	391	143	248	398	194	213	391	323	479	427	466
Net Cash From Continuing Operating Activities	391	143	248	398	192	213	391	323	479	427	466
Net Income / (Loss) Continuing Operations	181	132	132	233	124	163	118	275	265	290	336
Consolidated Net Income / (Loss)	181	132	132	233	124	163	118	275	265	290	336
Depreciation Expense	61	73	82	86	81	107	111	129	153	167	189
Amortization Expense	-	0.00	0.76	18	8.42	4.92	4.60	2.56	2.27	0.13	0.00
Non-Cash Adjustments To Reconcile Net Income	-3.21	-34	-22	-35	-67	-40	59	-37	-25	-45	-89
Changes in Operating Assets and Liabilities, net	152	-28	55	95	46	-22	98	-46	84	16	30
Net Cash From Investing Activities	-322	-363	-392	-373	-287	-994	-622	-591	-539	-569	-568
Net Cash From Continuing Investing Activities	-322	-363	-392	-373	-287	-994	-622	-591	-539	-569	-568
Purchase of Property, Plant & Equipment	-292	-327	-296	-337	-486	-448	-574	-559	-500	-523	-660
Sale of Property, Plant & Equipment	0.00	0.75	9.44	-	-	-	-	-	0.00	0.00	137
Sale and/or Maturity of Investments	5.64	2.35	9.39	9.73	37	1.91	3.18	7.82	2.29	2.25	0.61
Other Investing Activities, net	-30	-28	-32	-48	-40	-22	-50	-39	-41	-48	-46
Net Cash From Financing Activities	-66	253	107	-26	96	896	118	263	60	142	102
Net Cash From Continuing Financing Activities	-66	253	107	-26	96	896	118	263	60	142	102
Repayment of Debt	-272	42	-98	-280	-219	-270	234	-172	-244	-85	-303
Payment of Dividends	-77	-82	-88	-96	-104	-118	-117	-128	-151	-165	-180
Issuance of Debt	250	275	244	225	341	1,010	0.00	510	225	250	300
Issuance of Common Equity	37	16	17	59	74	231	15	15	58	74	35
Other Financing Activities, net	5.07	3.56	38	66	2.79	43	13	37	172	68	250
Cash Interest Paid	24	32	44	45	50	66	79	84	108	120	130
Cash Income Taxes Paid	29	-3.52	-6.88	5.58	13	7.59	6.38	4.25	4.28	21	9.88

This table details how cash moves in and out of NewJersey Resources' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	0.50	1.91	2.32	17	-22	0.95	82	-83	-0.34	1.94	123
Net Cash From Operating Activities	91	46	292	24	65	-8.96	423	-29	81	27	563
Net Cash From Continuing Operating Activities	91	46	292	24	65	-8.96	423	-29	81	27	563
Net Income / (Loss) Continuing Operations	37	89	121	-12	91	131	204	-15	15	122	219
Consolidated Net Income / (Loss)	37	89	121	-12	91	131	204	-15	15	122	219
Depreciation Expense	39	40	40	41	45	45	48	47	48	50	50
Non-Cash Adjustments To Reconcile Net Income	-15	-11	-16	-7.95	-11	-61	-9.72	-4.10	-16	-9.78	-12
Changes in Operating Assets and Liabilities, net	29	-73	147	2.99	-61	-125	180	-57	33	-136	306
Net Cash From Investing Activities	-160	-114	-121	-158	-176	-19	-133	-154	-262	-180	-196
Net Cash From Continuing Investing Activities	-160	-114	-121	-158	-176	-19	-133	-154	-262	-180	-196
Purchase of Property, Plant & Equipment	-149	-106	-114	-146	-157	-141	-125	-144	-249	-169	-190
Other Investing Activities, net	-12	-8.98	-8.46	-12	-19	-11	-9.66	-12	-13	-11	-5.69
Net Cash From Financing Activities	70	69	-169	151	90	29	-208	100	181	155	-244
Net Cash From Continuing Financing Activities	70	69	-169	151	90	29	-208	100	181	155	-244
Repayment of Debt	51	10	-133	52	1.49	-62	-180	67	-128	167	-226
Payment of Dividends	-38	-41	-41	-41	-42	-45	-45	-45	-45	-48	-48
Issuance of Common Equity	3.57	22	22	15	16	24	3.81	3.64	3.68	3.78	3.82
Other Financing Activities, net	3.62	28	-0.03	-	40	13	13	75	150	31	26
Cash Interest Paid	28	30	30	30	30	35	30	34	31	36	37
Cash Income Taxes Paid	1.42	0.63	6.07	6.34	8.27	0.86	5.86	1.93	1.23	0.15	14

This table presents NewJersey Resources' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Total Assets	3,284	3,719	3,929	4,144	4,373	5,316	5,722	6,261	6,537	6,982	7,579
Total Current Assets	488	607	579	770	512	622	634	756	532	555	570
Cash & Equivalents	4.93	38	2.23	1.46	2.68	117	4.75	1.11	0.95	1.02	0.59
Accounts Receivable	156	144	198	207	140	136	199	217	106	117	122
Inventories, net	171	217	214	199	184	188	213	294	227	238	259
Prepaid Expenses	-	-	-	-	8.33	6.64	8.17	8.57	9.74	12	11
Current Deferred & Refundable Income Taxes	37	34	25	23	23	24	51	55	43	67	67
Other Current Assets	119	175	140	340	154	150	158	181	146	120	110
Plant, Property, & Equipment, net	2,128	2,408	2,610	2,651	3,046	3,723	4,214	4,650	5,022	5,403	5,810
Plant, Property & Equipment, gross	2,622	2,955	3,211	3,304	3,787	4,465	4,997	5,516	5,991	6,497	6,954
Accumulated Depreciation	494	547	601	653	741	742	784	866	968	1,093	1,144
Total Noncurrent Assets	668	704	739	723	815	971	874	855	983	1,024	1,199
Long-Term Investments	191	197	238	224	200	208	115	107	104	102	101
Noncurrent Note & Lease Receivables	-	-	-	-	-	-	-	-	-	0.00	43
Intangible Assets	-	0.00	41	23	16	15	11	8.47	8.38	11	11
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	-	-	2.93	28	21	21
Employee Benefit Assets	-	-	-	-	-	-	-	4.39	19	25	41
Other Noncurrent Operating Assets	476	507	460	475	599	748	749	733	824	866	982
Total Liabilities & Shareholders' Equity	3,284	3,719	3,929	4,144	4,373	5,316	5,722	6,261	6,537	6,982	7,579
Total Liabilities	2,177	2,552	2,692	2,725	2,821	3,673	4,091	4,444	4,547	4,781	5,187
Total Current Liabilities	436	572	803	751	446	534	1,051	1,104	807	888	781
Short-Term Debt	77	183	431	275	47	153	450	499	368	481	354
Accounts Payable	100	107	97	135	130	142	223	157	152	169	204
Customer Deposits	-	-	-	27	27	26	33	33	45	39	31
Dividends Payable	21	22	24	26	28	32	35	38	41	45	48
Current Deferred Revenue	21	33	27	-	-	-	1.75	36	61	22	23
Current Deferred & Payable Income Tax Liabilities	1.33	1.08	2.03	1.57	3.39	2.72	3.36	5.13	10	11	12
Other Current Liabilities	216	225	222	281	211	179	305	337	129	122	109
Total Noncurrent Liabilities	1,741	1,980	1,889	1,974	2,375	3,139	3,040	3,340	3,740	3,893	4,406
Long-Term Debt	844	1,055	997	1,181	1,537	2,259	2,162	2,485	2,768	2,879	3,250
Asset Retirement Reserve & Litigation Obligation	267	242	195	369	365	381	374	368	412	404	415
Noncurrent Deferred Revenue	29	29	28	9.10	1.55	1.04	0.85	0.75	0.66	3.10	18
Noncurrent Deferred & Payable Income Tax Liabilities	450	478	519	246	194	141	167	242	288	361	440
Noncurrent Employee Benefit Liabilities	137	142	129	137	247	237	169	83	103	65	109
Other Noncurrent Operating Liabilities	14	35	21	32	31	119	167	162	169	181	174
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,107	1,167	1,237	1,419	1,552	1,644	1,631	1,817	1,991	2,200	2,392
Total Preferred & Common Equity	1,107	1,167	1,237	1,419	1,552	1,644	1,631	1,817	1,991	2,200	2,392
Total Common Equity	1,107	1,167	1,237	1,419	1,552	1,644	1,631	1,817	1,991	2,200	2,392
Common Stock	431	437	442	501	518	732	743	761	802	882	927
Retained Earnings	778	826	868	1,007	1,076	948	935	1,068	1,178	1,299	1,451
Treasury Stock	-92	-81	-70	-76	-10	8.49	-12	-6.81	21	26	24
Accumulated Other Comprehensive Income / (Loss)	-9.39	-15	-3.26	-13	-32	-44	-35	-4.83	-9.96	-6.52	-11

This table presents NewJersey Resources' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	12/31/2022	3/31/2023	6/30/2023	12/31/2023	3/31/2024	6/30/2024	12/31/2024	3/31/2025	6/30/2025	12/31/2025	3/31/2026
Total Assets	6,610	6,296	6,313	6,749	6,647	6,784	7,194	7,266	7,274	7,906	7,943
Total Current Assets	1,012	616	520	677	554	534	731	679	562	781	730
Cash & Equivalents	2.41	27	0.51	2.74	5.04	22	1.91	84	0.93	2.43	125
Accounts Receivable	469	229	114	254	250	138	320	326	183	402	358
Inventories, net	276	109	186	225	111	164	232	142	211	236	106
Prepaid Expenses	19	15	11	16	16	14	19	18	15	20	19
Current Deferred & Refundable Income Taxes	21	14	36	23	18	55	32	16	51	33	26
Other Current Assets	224	223	172	158	153	142	125	92	101	87	96
Plant, Property, & Equipment, net	4,749	4,825	4,893	5,097	5,166	5,285	5,428	5,521	5,647	5,962	6,084
Plant, Property & Equipment, gross	5,643	5,750	5,850	6,096	6,198	6,347	6,497	6,622	6,779	7,142	7,303
Accumulated Depreciation	894	925	958	999	1,033	1,062	1,068	1,101	1,132	1,180	1,219
Total Noncurrent Assets	850	855	899	976	928	965	1,035	1,066	1,065	1,163	1,129
Long-Term Investments	106	105	104	103	102	101	102	101	101	102	103
Noncurrent Note & Lease Receivables	-	-	-	-	-	-	-	-	-	43	43
Intangible Assets	8.47	8.05	8.19	9.11	9.73	10	11	11	11	11	11
Noncurrent Deferred & Refundable Income Taxes	-	-	26	23	23	23	23	22	23	20	21
Employee Benefit Assets	-	-	-	19	19	19	23	24	26	42	43
Other Noncurrent Operating Assets	735	742	761	822	775	813	877	907	905	946	909
Total Liabilities & Shareholders' Equity	6,610	6,296	6,313	6,749	6,647	6,784	7,194	7,266	7,274	7,906	7,943
Total Liabilities	4,687	4,295	4,317	4,683	4,468	4,641	4,881	4,788	4,851	5,434	5,295
Total Current Liabilities	1,066	711	669	962	789	894	819	732	739	938	777
Short-Term Debt	545	340	308	488	345	452	429	273	363	531	315
Accounts Payable	110	122	122	106	127	145	113	122	139	137	170
Customer Deposits	41	26	30	45	25	29	43	23	24	40	23
Dividends Payable	38	38	38	41	41	42	45	45	45	48	48
Current Deferred Revenue	40	41	42	119	110	100	22	22	24	21	21
Current Deferred & Payable Income Tax Liabilities	10	16	11	11	16	8.61	11	50	19	12	30
Other Current Liabilities	283	129	118	152	125	119	157	197	126	150	170
Total Noncurrent Liabilities	3,621	3,584	3,648	3,721	3,679	3,747	4,063	4,056	4,111	4,496	4,518
Long-Term Debt	2,691	2,642	2,729	2,739	2,726	2,794	2,989	2,970	3,021	3,274	3,282
Asset Retirement Reserve & Litigation Obligation	366	365	362	407	399	394	403	401	396	415	413
Noncurrent Deferred Revenue	50	40	31	0.64	0.61	0.59	32	27	23	47	42
Noncurrent Deferred & Payable Income Tax Liabilities	258	283	278	302	333	334	385	408	417	470	493
Noncurrent Employee Benefit Liabilities	84	88	89	102	42	42	71	72	72	109	110
Other Noncurrent Operating Liabilities	172	165	160	169	178	182	181	177	184	180	179
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,923	2,001	1,995	2,066	2,179	2,143	2,313	2,478	2,424	2,472	2,649
Total Preferred & Common Equity	1,923	2,001	1,995	2,066	2,179	2,143	2,313	2,478	2,424	2,472	2,649
Total Common Equity	1,923	2,001	1,995	2,066	2,179	2,143	2,313	2,478	2,424	2,472	2,649
Common Stock	770	772	798	828	850	865	914	919	922	940	945
Retained Earnings	1,146	1,218	1,182	1,226	1,306	1,252	1,385	1,544	1,484	1,526	1,697
Treasury Stock	12	15	19	22	23	25	20	21	23	18	17
Accumulated Other Comprehensive Income / (Loss)	-4.52	-4.22	-3.91	-9.56	0.32	0.22	-6.45	-6.39	-6.32	-11	-11

This table displays calculated financial ratios and metrics derived from NewJersey Resources' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-26.86%	-31.20%	20.61%	28.50%	-11.08%	-24.63%	10.39%	34.75%	-32.45%	-8.48%	13.35%
EBITDA Growth	21.00%	-21.15%	5.85%	19.98%	-16.25%	37.58%	17.49%	30.69%	4.94%	13.27%	11.64%
EBIT Growth	22.16%	-30.69%	2.69%	17.33%	-17.42%	43.77%	23.80%	37.01%	1.01%	15.37%	11.10%
NOPAT Growth	26.95%	-23.31%	5.52%	78.37%	-46.68%	30.37%	34.60%	27.79%	8.27%	3.06%	11.45%
Net Income Growth	27.46%	-27.24%	0.30%	76.76%	-46.91%	31.53%	-27.68%	133.20%	-3.71%	9.46%	15.82%
EPS Growth	25.75%	-27.62%	0.00%	73.68%	-47.73%	23.91%	-28.66%	133.61%	-4.91%	7.75%	14.04%
Operating Cash Flow Growth	9.16%	-63.52%	73.91%	60.57%	-51.26%	9.97%	83.13%	-17.26%	48.08%	-10.77%	9.11%
Free Cash Flow Firm Growth	14.53%	-337.52%	46.09%	130.35%	-528.97%	-340.93%	75.91%	-72.50%	104.25%	-897.57%	47.32%
Invested Capital Growth	5.65%	18.36%	11.67%	9.47%	10.49%	27.07%	10.53%	13.77%	7.00%	8.69%	7.98%
Revenue Q/Q Growth	-5.32%	1.67%	3.06%	3.95%	-6.10%	-3.89%	6.55%	8.72%	-18.11%	3.72%	-2.85%
EBITDA Q/Q Growth	17.39%	18.29%	-21.62%	5.04%	6.26%	20.10%	-8.61%	17.12%	-1.79%	14.94%	-12.49%
EBIT Q/Q Growth	21.06%	24.66%	-29.31%	8.11%	14.81%	23.21%	-11.96%	21.85%	-3.44%	19.39%	-16.46%
NOPAT Q/Q Growth	12.29%	21.33%	-27.35%	4.48%	-16.07%	58.66%	-8.82%	23.17%	-3.11%	18.28%	-16.37%
Net Income Q/Q Growth	18.78%	19.19%	-31.92%	9.51%	-8.31%	58.54%	-22.30%	25.38%	-6.20%	22.96%	-18.47%
EPS Q/Q Growth	17.98%	17.83%	-32.44%	8.64%	-7.38%	59.81%	-21.29%	24.45%	-6.23%	22.69%	-18.58%
Operating Cash Flow Q/Q Growth	7.28%	36.08%	-7.83%	-4.60%	13.18%	1.12%	4.96%	13.49%	0.73%	-5.86%	3.71%
Free Cash Flow Firm Q/Q Growth	127.73%	-1.17%	-142.67%	-10.52%	-132.82%	34.13%	-222.11%	19.08%	147.19%	-91.60%	-267.47%
Invested Capital Q/Q Growth	2.67%	3.55%	3.49%	3.79%	5.36%	-2.62%	3.62%	3.15%	2.00%	3.68%	3.33%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	23.71%	39.43%	23.09%	22.24%	21.44%	33.53%	37.65%	33.19%	50.50%	60.49%	56.13%
EBITDA Margin	11.57%	13.26%	11.64%	10.87%	10.24%	18.69%	19.89%	19.29%	29.97%	37.09%	36.53%
Operating Margin	9.09%	8.91%	7.55%	6.86%	6.35%	11.72%	13.37%	13.99%	20.73%	25.50%	24.99%
EBIT Margin	9.33%	9.40%	8.00%	7.30%	6.78%	12.94%	14.51%	14.75%	22.06%	27.81%	27.26%
Profit (Net Income) Margin	6.62%	7.00%	5.82%	8.01%	4.78%	8.34%	5.47%	9.46%	13.49%	16.13%	16.48%
Tax Burden Percent	79.62%	90.38%	96.68%	140.08%	96.26%	88.02%	50.30%	80.17%	85.38%	78.45%	78.69%
Interest Burden Percent	89.13%	82.43%	75.27%	78.26%	73.22%	73.26%	74.90%	79.98%	71.60%	73.93%	76.83%
Effective Tax Rate	26.28%	16.15%	13.43%	-32.28%	14.32%	19.71%	14.20%	22.22%	15.89%	22.99%	22.73%
Return on Invested Capital (ROIC)	10.16%	6.95%	6.39%	10.31%	5.00%	5.47%	6.25%	7.11%	6.99%	6.68%	6.87%
ROIC Less NNEP Spread (ROIC-NNEP)	9.87%	5.95%	4.94%	7.81%	3.72%	4.29%	0.67%	5.60%	4.40%	4.70%	5.19%
Return on Net Nonoperating Assets (RNNOA)	7.30%	4.64%	4.60%	7.27%	3.35%	4.73%	0.95%	8.83%	6.91%	7.15%	7.75%
Return on Equity (ROE)	17.46%	11.58%	10.99%	17.58%	8.34%	10.20%	7.20%	15.95%	13.90%	13.83%	14.62%
Cash Return on Invested Capital (CROIC)	4.66%	-9.87%	-4.64%	1.27%	-4.97%	-18.38%	-3.76%	-5.77%	0.22%	-1.65%	-0.80%
Operating Return on Assets (OROA)	7.92%	5.05%	4.75%	5.28%	4.13%	5.22%	5.67%	7.16%	6.77%	7.39%	7.62%
Return on Assets (ROA)	5.62%	3.76%	3.45%	5.78%	2.91%	3.36%	2.14%	4.59%	4.14%	4.29%	4.61%
Return on Common Equity (ROCE)	17.46%	11.58%	10.99%	17.58%	8.34%	10.20%	7.20%	15.95%	13.90%	13.83%	14.62%
Return on Equity Simple (ROE_SIMPLE)	16.35%	11.29%	10.68%	16.45%	7.99%	9.92%	7.23%	15.13%	13.30%	13.17%	0.00%
Net Operating Profit after Tax (NOPAT)	183	140	148	264	141	184	247	316	342	353	393
NOPAT Margin	6.70%	7.47%	6.53%	9.07%	5.44%	9.41%	11.47%	10.88%	17.44%	19.64%	19.31%
Net Nonoperating Expense Percent (NNEP)	0.29%	0.99%	1.45%	2.50%	1.28%	1.18%	5.57%	1.52%	2.59%	1.98%	1.68%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	6.56%
Cost of Revenue to Revenue	76.29%	60.57%	76.91%	77.76%	78.56%	66.47%	62.35%	66.81%	49.50%	39.51%	43.87%
SG&A Expenses to Revenue	7.66%	11.08%	9.79%	10.81%	10.34%	14.24%	17.01%	12.45%	19.03%	21.97%	20.16%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	14.63%	30.52%	15.54%	15.38%	15.09%	21.81%	24.28%	19.20%	29.76%	34.99%	31.14%
Earnings before Interest and Taxes (EBIT)	255	177	181	213	176	253	313	429	433	500	555
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	316	249	264	317	265	365	429	561	588	666	744
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.76	1.89	2.36	2.36	2.21	1.38	1.87	1.91	1.92	2.13	2.02
Price to Tangible Book Value (P/TBV)	1.76	1.89	2.44	2.40	2.23	1.39	1.88	1.92	1.92	2.14	2.03
Price to Revenue (P/Rev)	0.71	1.17	1.29	1.15	1.32	1.16	1.41	1.19	1.94	2.61	2.38
Price to Earnings (P/E)	10.75	16.77	22.12	14.34	27.67	13.93	25.84	12.61	14.41	16.15	14.41
Dividend Yield	4.02%	3.80%	3.07%	2.93%	3.12%	5.37%	4.30%	4.10%	4.07%	3.62%	3.79%
Earnings Yield	9.30%	5.96%	4.52%	6.98%	3.61%	7.18%	3.87%	7.93%	6.94%	6.19%	6.94%
Enterprise Value to Invested Capital (EV/IC)	1.44	1.47	1.68	1.71	1.62	1.16	1.33	1.34	1.35	1.44	1.40
Enterprise Value to Revenue (EV/Rev)	0.98	1.71	1.81	1.57	1.86	2.23	2.57	2.18	3.49	4.42	4.10
Enterprise Value to EBITDA (EV/EBITDA)	8.44	12.88	15.56	14.45	18.13	11.94	12.92	11.31	11.64	11.91	11.21
Enterprise Value to EBIT (EV/EBIT)	10.47	18.18	22.64	21.50	27.36	17.24	17.70	14.79	15.81	15.89	15.02
Enterprise Value to NOPAT (EV/NOPAT)	14.58	22.87	27.72	17.31	34.12	23.71	22.39	20.06	20.00	22.50	21.21
Enterprise Value to Operating Cash Flow (EV/OCF)	6.83	22.52	16.57	11.49	24.78	20.41	14.17	19.61	14.29	18.57	17.88
Enterprise Value to Free Cash Flow (EV/FCFF)	31.77	0.00	0.00	140.16	0.00	0.00	0.00	0.00	627.54	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.83	1.06	1.16	1.03	1.02	1.47	1.60	1.64	1.58	1.53	1.51
Long-Term Debt to Equity	0.76	0.90	0.81	0.83	0.99	1.37	1.33	1.37	1.39	1.31	1.36
Financial Leverage	0.74	0.78	0.93	0.93	0.90	1.10	1.42	1.58	1.57	1.52	1.49
Leverage Ratio	3.11	3.08	3.18	3.04	2.87	3.03	3.37	3.48	3.36	3.23	3.17
Compound Leverage Factor	2.77	2.54	2.40	2.38	2.10	2.22	2.52	2.78	2.41	2.38	2.44
Debt to Total Capital	45.42%	51.49%	53.60%	50.65%	50.52%	59.47%	61.57%	62.15%	61.17%	60.43%	60.11%
Short-Term Debt to Total Capital	3.82%	7.62%	16.19%	9.58%	1.49%	3.76%	10.61%	10.39%	7.18%	8.65%	5.90%
Long-Term Debt to Total Capital	41.60%	43.87%	37.41%	41.06%	49.02%	55.71%	50.96%	51.76%	53.99%	51.78%	54.21%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	54.58%	48.51%	46.40%	49.35%	49.48%	40.53%	38.44%	37.85%	38.83%	39.57%	39.89%
Debt to EBITDA	2.91	4.96	5.41	4.60	5.97	6.61	6.09	5.32	5.33	5.04	4.85
Net Debt to EBITDA	2.29	4.02	4.50	3.88	5.20	5.72	5.81	5.13	5.15	4.89	4.71
Long-Term Debt to EBITDA	2.67	4.23	3.78	3.73	5.79	6.19	5.04	4.43	4.71	4.32	4.37
Debt to NOPAT	5.03	8.81	9.64	5.51	11.24	13.12	10.56	9.44	9.16	9.52	9.17
Net Debt to NOPAT	3.96	7.15	8.01	4.66	9.80	11.35	10.08	9.10	8.85	9.23	8.91
Long-Term Debt to NOPAT	4.61	7.51	6.73	4.47	10.90	12.29	8.74	7.86	8.09	8.16	8.27
Altman Z-Score	1.98	1.50	1.62	1.96	1.82	1.16	1.15	1.33	1.22	1.28	1.30
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.12	1.06	0.72	1.03	1.15	1.17	0.60	0.68	0.66	0.62	0.73
Quick Ratio	0.37	0.32	0.25	0.28	0.32	0.47	0.19	0.20	0.13	0.13	0.16
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	84	-200	-108	33	-140	-618	-149	-257	11	-87	-46
Operating Cash Flow to CapEx	133.88%	43.71%	86.58%	118.21%	39.97%	47.64%	68.08%	57.85%	95.73%	81.73%	89.19%
Free Cash Flow to Firm to Interest Expense	3.03	-6.43	-2.40	0.71	-2.98	-9.14	-1.89	-2.99	0.09	-0.67	-0.36
Operating Cash Flow to Interest Expense	14.10	4.59	5.53	8.60	4.12	3.16	4.98	3.77	3.89	3.28	3.63
Operating Cash Flow Less CapEx to Interest Expense	3.57	-5.92	-0.86	1.33	-6.19	-3.47	-2.33	-2.75	-0.17	-0.73	-0.44
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.85	0.54	0.59	0.72	0.61	0.40	0.39	0.49	0.31	0.27	0.28
Accounts Receivable Turnover	15.70	12.54	13.27	14.38	14.96	14.17	12.89	14.00	12.18	16.13	17.02
Inventory Turnover	9.13	5.87	8.10	10.99	10.64	6.98	6.71	7.66	3.73	3.06	3.60
Fixed Asset Turnover	1.36	0.83	0.90	1.11	0.91	0.58	0.54	0.66	0.41	0.34	0.36
Accounts Payable Turnover	20.48	11.02	17.10	19.53	15.37	9.58	7.37	10.22	6.30	4.42	4.78
Days Sales Outstanding (DSO)	23.25	29.11	27.51	25.38	24.40	25.76	28.32	26.08	29.96	22.63	21.45
Days Inventory Outstanding (DIO)	39.96	62.16	45.09	33.21	34.31	52.30	54.44	47.67	97.75	119.34	101.51
Days Payable Outstanding (DPO)	17.82	33.13	21.34	18.69	23.75	38.12	49.54	35.73	57.91	82.54	76.35
Cash Conversion Cycle (CCC)	45.39	58.14	51.26	39.91	34.97	39.95	33.22	38.02	69.80	59.42	46.61
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,852	2,192	2,448	2,680	2,961	3,762	4,159	4,731	5,063	5,503	5,942
Invested Capital Turnover	1.52	0.93	0.98	1.14	0.92	0.58	0.54	0.65	0.40	0.34	0.36
Increase / (Decrease) in Invested Capital	99	340	256	232	281	802	396	573	331	440	439
Enterprise Value (EV)	2,670	3,212	4,109	4,578	4,810	4,357	5,540	6,343	6,845	7,938	8,339
Market Capitalization	1,946	2,209	2,921	3,347	3,429	2,271	3,047	3,466	3,814	4,681	4,837
Book Value per Share	$12.95	$13.54	$14.29	$16.07	$17.25	$17.14	$16.91	$18.88	$20.40	$22.19	$23.81
Tangible Book Value per Share	$12.95	$13.54	$13.82	$15.81	$17.06	$16.98	$16.80	$18.80	$20.32	$22.08	$23.70
Total Capital	2,028	2,405	2,665	2,875	3,136	4,056	4,243	4,802	5,127	5,561	5,996
Total Debt	921	1,238	1,428	1,456	1,584	2,412	2,612	2,984	3,136	3,360	3,604
Total Long-Term Debt	844	1,055	997	1,181	1,537	2,259	2,162	2,485	2,768	2,879	3,250
Net Debt	725	1,004	1,188	1,231	1,381	2,087	2,493	2,877	3,031	3,258	3,502
Capital Expenditures (CapEx)	292	326	286	337	486	448	574	559	500	523	523
Debt-free, Cash-free Net Working Capital (DFCFNWC)	125	181	206	293	109	124	28	150	93	147	142
Debt-free Net Working Capital (DFNWC)	130	219	208	295	112	241	33	151	94	148	143
Net Working Capital (NWC)	52	36	-223	19	65	89	-417	-348	-275	-333	-211
Net Nonoperating Expense (NNE)	2.20	8.80	16	31	17	21	130	41	78	63	58
Net Nonoperating Obligations (NNO)	745	1,026	1,211	1,261	1,409	2,119	2,528	2,914	3,072	3,302	3,550
Total Depreciation and Amortization (D&A)	61	73	83	104	90	112	116	132	155	167	189
Debt-free, Cash-free Net Working Capital to Revenue	4.56%	9.64%	9.07%	10.06%	4.22%	6.36%	1.31%	5.16%	4.73%	8.16%	6.98%
Debt-free Net Working Capital to Revenue	4.74%	11.63%	9.16%	10.11%	4.32%	12.35%	1.53%	5.19%	4.77%	8.22%	7.01%
Net Working Capital to Revenue	1.91%	1.90%	-9.85%	0.66%	2.52%	4.54%	-19.34%	-11.98%	-13.99%	-18.55%	-10.36%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.12	$1.53	$1.53	$2.66	$1.90	$2.05	$1.23	$2.86	$2.73	$2.94	$3.35
Adjusted Weighted Average Basic Shares Outstanding	85.19M	85.88M	86.32M	87.69M	89.24M	94.80M	96.23M	96.10M	97.03M	98.63M	100.24M
Adjusted Diluted Earnings per Share	$2.10	$1.52	$1.52	$2.64	$1.89	$2.04	$1.22	$2.85	$2.71	$2.92	$3.33
Adjusted Weighted Average Diluted Shares Outstanding	86.27M	86.73M	87.14M	88.32M	89.62M	95.11M	96.56M	96.49M	97.63M	99.29M	100.79M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	85.80M	86.10M	86.87M	88.51M	90.16M	96.13M	95.95M	96.39M	97.71M	99.77M	100.74M
Normalized Net Operating Profit after Tax (NOPAT)	183	140	148	140	141	184	247	316	342	353	348
Normalized NOPAT Margin	6.70%	7.47%	6.53%	4.80%	5.44%	9.41%	11.47%	10.88%	17.44%	19.64%	17.10%
Pre Tax Income Margin	8.31%	7.75%	6.02%	5.72%	4.97%	9.48%	10.87%	11.80%	15.80%	20.56%	20.94%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	9.20	5.69	4.04	4.60	3.73	3.74	3.98	5.00	3.52	3.84	4.32
NOPAT to Interest Expense	6.61	4.53	3.30	5.71	2.99	2.72	3.15	3.68	2.78	2.71	3.06
EBIT Less CapEx to Interest Expense	-1.34	-4.82	-2.34	-2.68	-6.58	-2.89	-3.33	-1.52	-0.55	-0.18	0.25
NOPAT Less CapEx to Interest Expense	-3.93	-5.99	-3.08	-1.57	-7.32	-3.91	-4.16	-2.83	-1.28	-1.31	-1.01
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	42.29%	62.61%	66.62%	41.05%	83.96%	72.27%	99.21%	46.45%	57.03%	56.96%	53.65%
Augmented Payout Ratio	48.14%	63.38%	71.44%	41.05%	83.96%	72.27%	122.30%	46.45%	57.03%	56.96%	53.65%

This table displays calculated financial ratios and metrics derived from NewJersey Resources' official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	100,845,185.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	100,845,185.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	2.17
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-56.72%	-35.43%	2.16%	4.38%	19.45%	4.53%	38.78%	8.46%	-15.08%	23.85%	2.89%
EBITDA Growth	-8.53%	-14.95%	8.17%	13.06%	75.29%	35.04%	52.71%	1.16%	-52.65%	-2.59%	6.53%
EBIT Growth	-17.01%	-19.88%	9.22%	48.31%	107.85%	41.53%	59.96%	-35.59%	-69.95%	-5.28%	6.86%
NOPAT Growth	-16.60%	-19.81%	2.86%	25.39%	98.45%	36.72%	61.82%	-117.89%	-69.87%	-5.17%	7.33%
Net Income Growth	-32.09%	-22.87%	9.58%	-855.48%	146.13%	46.87%	69.10%	-30.04%	-83.46%	-6.72%	7.16%
EPS Growth	-32.73%	-23.53%	7.96%	-700.00%	145.95%	43.96%	65.57%	-25.00%	-83.52%	-7.63%	6.93%
Operating Cash Flow Growth	3.99%	152.18%	-32.37%	-45.75%	-29.18%	-119.29%	44.78%	-218.99%	25.83%	398.47%	32.99%
Free Cash Flow Firm Growth	45.45%	93.00%	60.93%	9.00%	-19.68%	-781.00%	-11.66%	-30.63%	-22.72%	-37.82%	-38.59%
Invested Capital Growth	7.00%	2.78%	6.06%	6.92%	8.69%	8.48%	7.66%	8.34%	7.98%	9.66%	8.66%
Revenue Q/Q Growth	25.47%	41.01%	40.82%	-58.10%	43.59%	23.39%	86.96%	-67.26%	12.42%	79.97%	55.31%
EBITDA Q/Q Growth	130.86%	58.73%	23.72%	-75.06%	257.92%	22.28%	39.91%	-83.48%	67.54%	151.56%	53.01%
EBIT Q/Q Growth	620.26%	88.96%	30.59%	-91.66%	909.39%	28.67%	47.60%	-96.64%	370.88%	305.60%	66.51%
NOPAT Q/Q Growth	1,553.62%	96.50%	23.24%	-96.87%	2,517.12%	35.38%	45.87%	-100.35%	4,506.94%	326.15%	65.08%
Net Income Q/Q Growth	2,316.71%	141.49%	35.12%	-109.58%	887.33%	44.11%	55.57%	-107.37%	200.14%	712.70%	78.72%
EPS Q/Q Growth	1,750.00%	145.95%	34.07%	-109.84%	858.33%	43.96%	54.20%	-107.43%	200.00%	706.67%	78.51%
Operating Cash Flow Q/Q Growth	103.44%	-49.05%	529.51%	-91.69%	165.57%	-113.88%	4,823.99%	-106.83%	380.84%	-67.07%	2,004.95%
Free Cash Flow Firm Q/Q Growth	25.86%	87.84%	-385.50%	-107.91%	2.50%	10.48%	38.47%	-143.24%	8.41%	-0.53%	38.12%
Invested Capital Q/Q Growth	2.00%	3.27%	-0.85%	2.37%	3.68%	3.08%	-1.60%	3.02%	3.33%	4.69%	-2.50%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	63.11%	62.42%	52.70%	58.52%	72.55%	59.97%	53.50%	52.78%	60.71%	57.85%	55.82%
EBITDA Margin	34.71%	39.07%	34.33%	20.43%	50.94%	50.48%	37.78%	19.06%	28.40%	39.70%	39.12%
Operating Margin	19.40%	29.07%	25.87%	2.15%	36.92%	38.82%	30.66%	-0.36%	12.02%	29.63%	32.04%
EBIT Margin	22.71%	30.43%	28.22%	5.62%	39.51%	41.20%	32.52%	3.34%	13.98%	31.51%	33.78%
Profit (Net Income) Margin	11.17%	19.14%	18.36%	-4.20%	23.02%	26.89%	22.37%	-5.03%	4.48%	20.25%	23.30%
Tax Burden Percent	87.97%	80.78%	78.44%	73.82%	75.72%	78.49%	77.26%	69.31%	91.34%	79.08%	77.53%
Interest Burden Percent	55.95%	77.86%	82.97%	-101.21%	76.97%	83.16%	89.05%	-217.64%	35.12%	81.28%	88.98%
Effective Tax Rate	14.77%	20.72%	22.04%	0.00%	25.58%	22.35%	23.29%	0.00%	18.91%	22.10%	23.44%
Return on Invested Capital (ROIC)	6.63%	7.63%	6.89%	0.51%	9.34%	10.05%	9.06%	-0.09%	3.47%	8.36%	9.18%
ROIC Less NNEP Spread (ROIC-NNEP)	6.04%	7.05%	6.49%	0.00%	8.79%	9.57%	8.71%	-0.54%	2.95%	7.88%	8.83%
Return on Net Nonoperating Assets (RNNOA)	9.49%	11.18%	9.14%	-0.01%	13.37%	14.25%	11.43%	-0.76%	4.41%	11.70%	11.23%
Return on Equity (ROE)	16.12%	18.80%	16.04%	0.50%	22.71%	24.30%	20.49%	-0.85%	7.88%	20.05%	20.41%
Cash Return on Invested Capital (CROIC)	0.22%	3.40%	0.46%	-0.88%	-1.65%	-0.94%	1.44%	0.50%	-0.80%	-2.73%	-1.41%
Operating Return on Assets (OROA)	6.97%	7.77%	7.50%	1.49%	10.50%	10.74%	9.69%	1.00%	3.91%	8.98%	9.68%
Return on Assets (ROA)	3.43%	4.89%	4.88%	-1.11%	6.12%	7.01%	6.67%	-1.50%	1.25%	5.77%	6.68%
Return on Common Equity (ROCE)	16.12%	18.80%	16.04%	0.50%	22.71%	24.30%	20.49%	-0.85%	7.88%	20.05%	20.41%
Return on Equity Simple (ROE_SIMPLE)	0.00%	11.53%	11.42%	11.00%	0.00%	14.34%	16.75%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	55	108	133	4.16	109	147	215	-0.74	33	140	230
NOPAT Margin	16.54%	23.05%	20.17%	1.51%	27.48%	30.14%	23.52%	-0.25%	9.75%	23.08%	24.53%
Net Nonoperating Expense Percent (NNEP)	0.59%	0.58%	0.40%	0.51%	0.55%	0.49%	0.34%	0.44%	0.52%	0.48%	0.35%
Return On Investment Capital (ROIC_SIMPLE)	-	2.03%	-	-	-	2.57%	3.75%	-0.01%	0.55%	2.22%	3.69%
Cost of Revenue to Revenue	36.89%	37.58%	47.30%	41.48%	27.45%	40.03%	46.50%	47.22%	39.30%	42.15%	44.18%
SG&A Expenses to Revenue	30.41%	20.21%	16.30%	37.87%	22.39%	18.15%	12.16%	33.50%	32.94%	14.33%	11.98%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	43.71%	33.35%	26.83%	56.36%	35.63%	21.15%	22.83%	53.13%	48.68%	28.22%	23.77%
Earnings before Interest and Taxes (EBIT)	75	142	186	15	156	201	297	9.98	47	191	317
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	115	183	226	56	202	247	345	57	95	240	367
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.92	2.03	1.92	1.97	2.13	2.01	1.99	1.86	2.02	1.88	2.09
Price to Tangible Book Value (P/TBV)	1.92	2.04	1.93	1.98	2.14	2.02	1.99	1.86	2.03	1.89	2.10
Price to Revenue (P/Rev)	1.94	2.45	2.43	2.44	2.61	2.56	2.37	2.15	2.38	2.16	2.54
Price to Earnings (P/E)	14.41	17.57	16.79	17.92	16.15	14.03	11.85	10.93	14.41	14.22	16.22
Dividend Yield	4.07%	3.78%	3.88%	3.93%	3.62%	3.73%	3.61%	4.02%	3.79%	4.01%	3.41%
Earnings Yield	6.94%	5.69%	5.96%	5.58%	6.19%	7.13%	8.44%	9.15%	6.94%	7.03%	6.16%
Enterprise Value to Invested Capital (EV/IC)	1.35	1.40	1.38	1.38	1.44	1.40	1.43	1.35	1.40	1.34	1.47
Enterprise Value to Revenue (EV/Rev)	3.49	4.28	4.15	4.24	4.42	4.38	3.85	3.71	4.10	3.88	4.09
Enterprise Value to EBITDA (EV/EBITDA)	11.64	13.14	12.46	12.67	11.91	10.91	9.39	9.15	11.21	11.32	11.72
Enterprise Value to EBIT (EV/EBIT)	15.81	18.37	17.27	17.55	15.89	14.26	11.91	11.71	15.02	15.33	15.77
Enterprise Value to NOPAT (EV/NOPAT)	20.00	23.07	22.36	24.63	22.50	20.30	16.82	16.55	21.21	21.65	22.20
Enterprise Value to Operating Cash Flow (EV/OCF)	14.29	11.89	15.05	16.18	18.57	21.42	15.87	17.30	17.88	16.63	13.88
Enterprise Value to Free Cash Flow (EV/FCFF)	627.54	41.64	305.04	0.00	0.00	0.00	103.18	284.27	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.58	1.56	1.41	1.51	1.53	1.48	1.31	1.40	1.51	1.54	1.36
Long-Term Debt to Equity	1.39	1.33	1.25	1.30	1.31	1.29	1.20	1.25	1.36	1.32	1.24
Financial Leverage	1.57	1.59	1.41	1.48	1.52	1.49	1.31	1.42	1.49	1.49	1.27
Leverage Ratio	3.36	3.35	3.10	3.16	3.23	3.18	2.99	3.08	3.17	3.16	2.97
Compound Leverage Factor	1.88	2.61	2.57	-3.20	2.48	2.65	2.66	-6.70	1.11	2.56	2.64
Debt to Total Capital	61.17%	60.97%	58.49%	60.23%	60.43%	59.64%	56.69%	58.26%	60.11%	60.61%	57.59%
Short-Term Debt to Total Capital	7.18%	9.22%	6.56%	8.39%	8.65%	7.48%	4.78%	6.25%	5.90%	8.45%	5.04%
Long-Term Debt to Total Capital	53.99%	51.74%	51.93%	51.84%	51.78%	52.17%	51.91%	52.02%	54.21%	52.16%	52.55%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	38.83%	39.03%	41.51%	39.77%	39.57%	40.36%	43.31%	41.74%	39.89%	39.39%	42.41%
Debt to EBITDA	5.33	5.80	5.36	5.60	5.04	4.68	3.82	3.98	4.85	5.16	4.73
Net Debt to EBITDA	5.15	5.61	5.17	5.39	4.89	4.54	3.60	3.86	4.71	5.02	4.43
Long-Term Debt to EBITDA	4.71	4.92	4.76	4.82	4.32	4.09	3.50	3.55	4.37	4.44	4.32
Debt to NOPAT	9.16	10.19	9.61	10.88	9.52	8.71	6.84	7.20	9.17	9.87	8.96
Net Debt to NOPAT	8.85	9.85	9.28	10.47	9.23	8.45	6.45	6.98	8.91	9.60	8.39
Long-Term Debt to NOPAT	8.09	8.65	8.53	9.37	8.16	7.62	6.26	6.42	8.27	8.49	8.18
Altman Z-Score	1.04	1.06	1.14	1.00	1.12	1.17	1.33	1.11	1.08	1.11	1.33
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.66	0.70	0.70	0.60	0.62	0.89	0.93	0.76	0.73	0.83	0.94
Quick Ratio	0.13	0.27	0.32	0.18	0.13	0.39	0.56	0.25	0.16	0.43	0.62
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-277	-34	-163	-340	-331	-296	-182	-444	-406	-408	-253
Operating Cash Flow to CapEx	61.19%	43.93%	255.81%	16.60%	41.17%	-104.19%	342.53%	-20.42%	32.57%	15.84%	295.42%
Free Cash Flow to Firm to Interest Expense	-8.35	-1.07	-5.16	-10.89	-9.19	-8.74	-5.61	-13.99	-13.33	-11.45	-7.23
Operating Cash Flow to Interest Expense	2.75	1.47	9.24	0.78	1.79	-0.26	13.01	-0.91	2.66	0.75	16.09
Operating Cash Flow Less CapEx to Interest Expense	-1.74	-1.88	5.63	-3.92	-2.56	-0.52	9.21	-5.38	-5.51	-3.98	10.64
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.31	0.26	0.27	0.26	0.27	0.26	0.30	0.30	0.28	0.29	0.29
Accounts Receivable Turnover	12.18	4.72	7.18	13.72	16.13	6.34	7.19	13.05	17.02	5.96	6.37
Inventory Turnover	3.73	2.93	6.61	4.14	3.06	3.19	6.67	4.65	3.60	4.07	7.61
Fixed Asset Turnover	0.41	0.35	0.34	0.34	0.34	0.35	0.39	0.38	0.36	0.38	0.38
Accounts Payable Turnover	6.30	6.78	5.84	5.42	4.42	6.69	6.79	6.15	4.78	7.65	6.47
Days Sales Outstanding (DSO)	29.96	77.30	50.81	26.61	22.63	57.59	50.74	27.96	21.45	61.21	57.28
Days Inventory Outstanding (DIO)	97.75	124.66	55.18	88.24	119.34	114.29	54.74	78.52	101.51	89.78	47.96
Days Payable Outstanding (DPO)	57.91	53.82	62.47	67.32	82.54	54.57	53.73	59.31	76.35	47.71	56.41
Cash Conversion Cycle (CCC)	69.80	148.15	43.52	47.53	59.42	117.31	51.75	47.17	46.61	103.28	48.82
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	5,063	5,229	5,184	5,307	5,503	5,672	5,582	5,750	5,942	6,220	6,065
Invested Capital Turnover	0.40	0.33	0.34	0.34	0.34	0.33	0.39	0.38	0.36	0.36	0.37
Increase / (Decrease) in Invested Capital	331	141	296	344	440	444	397	443	439	548	483
Enterprise Value (EV)	6,845	7,307	7,141	7,346	7,938	7,969	7,979	7,780	8,339	8,347	8,907
Market Capitalization	3,814	4,186	4,177	4,224	4,681	4,654	4,920	4,499	4,837	4,646	5,538
Book Value per Share	$20.40	$21.11	$22.17	$21.69	$22.19	$23.18	$24.71	$24.15	$23.81	$24.54	$26.26
Tangible Book Value per Share	$20.32	$21.02	$22.07	$21.58	$22.08	$23.07	$24.60	$24.04	$23.70	$24.43	$26.15
Total Capital	5,127	5,293	5,250	5,389	5,561	5,731	5,721	5,807	5,996	6,277	6,245
Total Debt	3,136	3,227	3,071	3,246	3,360	3,418	3,244	3,383	3,604	3,805	3,596
Total Long-Term Debt	2,768	2,739	2,726	2,794	2,879	2,989	2,970	3,021	3,250	3,274	3,282
Net Debt	3,031	3,121	2,964	3,123	3,258	3,315	3,058	3,281	3,502	3,701	3,368
Capital Expenditures (CapEx)	149	106	114	146	157	8.60	124	142	249	169	190
Debt-free, Cash-free Net Working Capital (DFCFNWC)	93	200	104	70	147	339	136	185	142	372	143
Debt-free Net Working Capital (DFNWC)	94	203	109	92	148	341	220	186	143	374	268
Net Working Capital (NWC)	-275	-285	-235	-360	-333	-88	-53	-177	-211	-157	-47
Net Nonoperating Expense (NNE)	18	18	12	16	18	16	10	14	18	17	12
Net Nonoperating Obligations (NNO)	3,072	3,162	3,005	3,164	3,302	3,360	3,104	3,327	3,550	3,748	3,416
Total Depreciation and Amortization (D&A)	40	40	40	41	45	45	48	47	48	50	50
Debt-free, Cash-free Net Working Capital to Revenue	4.73%	11.75%	6.05%	4.04%	8.16%	18.63%	6.57%	8.83%	6.98%	17.26%	6.54%
Debt-free Net Working Capital to Revenue	4.77%	11.91%	6.34%	5.33%	8.22%	18.74%	10.61%	8.87%	7.01%	17.37%	12.29%
Net Working Capital to Revenue	-13.99%	-16.70%	-13.68%	-20.78%	-18.55%	-4.84%	-2.58%	-8.43%	-10.36%	-7.28%	-2.14%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.37	$0.91	$1.23	($0.12)	$0.92	$1.32	$2.04	($0.15)	$0.14	$1.22	$2.17
Adjusted Weighted Average Basic Shares Outstanding	97.03M	97.87M	98.38M	98.98M	98.63M	99.86M	100.29M	100.37M	100.24M	100.70M	100.85M
Adjusted Diluted Earnings per Share	$0.37	$0.91	$1.22	($0.12)	$0.91	$1.31	$2.02	($0.15)	$0.15	$1.21	$2.16
Adjusted Weighted Average Diluted Shares Outstanding	97.63M	98.56M	99.10M	98.98M	99.29M	100.48M	100.93M	100.37M	100.79M	101.23M	101.48M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	97.71M	98.30M	98.82M	99.17M	99.77M	100.29M	100.37M	100.45M	100.74M	100.85M	100.92M
Normalized Net Operating Profit after Tax (NOPAT)	55	108	133	4.16	109	105	214	-1.12	31	140	230
Normalized NOPAT Margin	16.54%	23.05%	20.17%	1.51%	27.48%	21.42%	23.46%	-0.38%	9.24%	23.08%	24.53%
Pre Tax Income Margin	12.70%	23.69%	23.41%	-5.69%	30.41%	34.26%	28.96%	-7.26%	4.91%	25.61%	30.06%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.27	4.52	5.87	0.50	4.34	5.94	9.13	0.31	1.54	5.34	9.07
NOPAT to Interest Expense	1.65	3.42	4.20	0.13	3.02	4.34	6.60	-0.02	1.07	3.91	6.59
EBIT Less CapEx to Interest Expense	-2.22	1.16	2.26	-4.20	-0.01	5.68	5.33	-4.15	-6.63	0.61	3.63
NOPAT Less CapEx to Interest Expense	-2.84	0.06	0.58	-4.56	-1.33	4.09	2.81	-4.49	-7.10	-0.82	1.14
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	57.03%	66.09%	63.48%	68.50%	56.96%	50.90%	41.59%	42.88%	53.65%	56.01%	54.44%
Augmented Payout Ratio	57.03%	66.09%	63.48%	68.50%	56.96%	50.90%	41.59%	42.88%	53.65%	56.01%	54.44%

Financials Breakdown Chart

Key Financial Trends

New Jersey Resources Corp (NJR) shows a picture of a regulated utility with a growing asset base and fluctuating quarterly earnings. Over the four-year window leading to Q1 2026, NJR’s balance sheet has expanded its asset base, while earnings and cash flow have shown seasonality and quarterly volatility tied to weather and capex. The company continues to invest in infrastructure, financed by a sizeable long-term debt load, with equity supporting the balance sheet. Below are the most pertinent trends and their potential implications for retail investors.

Asset base growth: Total assets rose from about $6.61B in Q1 2023 to about $7.91B by Q1 2026, reflecting ongoing capital expenditures and infrastructure investments.
Operating cash flow strength in multiple quarters: Net cash from continuing operating activities was robust in several periods (e.g., about $423.0M in 2025 Q2; about $292.2M in 2024 Q2), indicating solid cash generation to fund capex and dividends. For 2025 Q4 the quarterly cash flow from continuing operations was about $81.2M, and 2026 Q1 was about $26.7M.
Earnings rebound in select quarters: Net income from continuing operations recovered in key quarters (e.g., 2025 Q2 net income of about $204.3M; 2026 Q1 net income about $122.5M), suggesting some improvement after earlier volatility.
Equity base remains solid and growing: Total Common Equity around $2.47B as of late 2025/early 2026, with Total Equity near $2.47B, indicating retained earnings and equity support for the capital program.
Leverage and debt levels: Long-term debt sits near $3.0B (for example, around $3.274B in Q1 2026), which is typical for a regulated utility with ongoing capital investments. This is neutral to modestly positive if supported by regulated earnings and cash flow.
Capex-driven asset growth evidenced by PPE: Plant, Property & Equipment net remains large and rising (PPE net around $5.96B in Q1 2026; about $5.65B in mid-2025), reflecting ongoing infrastructure investments.
Tight near-term liquidity: Cash and equivalents are relatively small on the balance sheet (around $2.4M in Q1 2026), with liquidity primarily provided by operating cash flow and credit facilities rather than a large cash balance.
Investing activities are cash-out heavy: Net cash used in investing activities has been consistently negative across quarters, reflecting ongoing capex and asset acquisitions (e.g., Q4 2025 around -$262.3M; Q3 2025 around -$153.7M; Q1 2026 around -$179.5M).
Earnings volatility and a quarterly dip: 2025 Q3 showed a notable quarterly net income drop (net income continuing operations approximately -$15.05M), underscoring earnings volatility in downturns or weather-impacted periods.

05/20/26 02:19 AM ETAI Generated. May Contain Errors.

NewJersey Resources Financials - Frequently Asked Questions

According to the most recent income statement we have on file, NewJersey Resources' fiscal year ends in September. Their fiscal year 2025 ended on September 30, 2025.

NewJersey Resources' net income appears to be on an upward trend, with a most recent value of $335.63 million in 2025, rising from $180.96 million in 2015. The previous period was $289.78 million in 2024. Check out NewJersey Resources' forecast to explore projected trends and price targets.

NewJersey Resources' total operating income in 2025 was $508.87 million, based on the following breakdown:

Total Gross Profit: $1.14 billion
Total Operating Expenses: $634.23 million

Over the last 10 years, NewJersey Resources' total revenue changed from $2.73 billion in 2015 to $2.04 billion in 2025, a change of -25.5%.

NewJersey Resources' total liabilities were at $5.19 billion at the end of 2025, a 8.5% increase from 2024, and a 138.2% increase since 2015.

In the past 10 years, NewJersey Resources' cash and equivalents has ranged from $591 thousand in 2025 to $117.01 million in 2020, and is currently $591 thousand as of their latest financial filing in 2025.

Over the last 10 years, NewJersey Resources' book value per share changed from 12.95 in 2015 to 23.81 in 2025, a change of 83.9%.

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Financial statements for NYSE:NJR last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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NewJersey Resources (NJR) Financials

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NewJersey Resources (NJR) Financials

Annual Income Statements for NewJersey Resources

Quarterly Income Statements for NewJersey Resources

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Quarterly Cash Flow Statements for NewJersey Resources

Annual Balance Sheets for NewJersey Resources

Quarterly Balance Sheets for NewJersey Resources

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Quarterly Metrics And Ratios for NewJersey Resources

Financials Breakdown Chart

Key Financial Trends

NewJersey Resources Financials - Frequently Asked Questions

When does NewJersey Resources' financial year end?

How has NewJersey Resources' net income changed over the last 10 years?

What is NewJersey Resources' operating income?

How has NewJersey Resources' revenue changed over the last 10 years?

How much debt does NewJersey Resources have?

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How has NewJersey Resources' book value per share changed over the last 10 years?

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