NEW JERSEY RESOURCES CORP NJR
New Jersey Resources Corporation is a New Jersey corporation and a diversified energy services holding company whose principal business is the distribution of natural gas through a regulated utility, investing in and operating clean energy projects and natural gas storage and transportation assets, and providing other retail and wholesale energy services to customers. We are an exempt holding company under Section 1263 of the Energy Policy Act of 2005.
New Jersey Natural Gas Company provides regulated natural gas utility service to residential and commercial customers throughout Burlington, Middlesex, Monmouth, Morris, Ocean and Sussex counties in New Jersey and participates in the off-system sales and capacity release markets. NJNG, a local natural gas distribution company, is regulated by the BPU and comprises the Company's Natural Gas Distribution segment.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.35B | $1.23B | $1.11B | $1.20B | $852.1M | $833.7M | $782.3M | — | — | — |
| Cost of revenue | — | — | — | — | — | — | — | $1.99B | $1.44B | $1.14B |
| Total operating expenses | $1.53B | $1.34B | $1.56B | $2.50B | $1.87B | $1.72B | $2.43B | $2.71B | $2.10B | $1.71B |
| Operating income | $508.9M | $458.1M | $407.0M | $406.5M | $288.4M | $228.9M | $164.6M | $209.0M | $171.2M | $167.5M |
| Interest expense | $128.6M | $130.3M | $123.0M | $85.8M | $78.6M | $67.6M | $47.1M | $46.3M | $44.9M | $31.0M |
| Pre-tax income | $426.5M | $369.4M | $310.1M | $342.9M | $234.4M | $185.2M | $128.7M | $175.8M | $136.6M | $145.7M |
| Income tax | $97.0M | $84.9M | $49.3M | $76.2M | $33.3M | $36.5M | $18.4M | $42.2M | $18.3M | $23.5M |
| Net income | $335.6M | $289.8M | $264.7M | $274.9M | $117.9M | $163.0M | $123.9M | $231.0M | $132.1M | $131.7M |
| EPS, basic | 3.35 | 2.94 | 2.73 | 2.86 | 1.23 | 1.72 | 1.39 | 2.63 | 1.53 | 1.53 |
| EPS, diluted | 3.33 | 2.92 | 2.71 | 2.85 | 1.22 | 1.71 | 1.38 | 2.62 | 1.52 | 1.52 |
| Shares, diluted (wtd. avg.) | $100.8M | $99.3M | $97.6M | $96.5M | $96.6M | $95.1M | $89.6M | $88.3M | $87.1M | $86.7M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $591.0K | $1.0M | $954.0K | $1.5M | $6.0M | $119.4M | $4.1M | $1.7M | $2.5M | $37.5M |
| Total current assets | $569.9M | $554.6M | $532.1M | $756.1M | $634.3M | $622.3M | $511.6M | $770.1M | $579.4M | $607.3M |
| Property, plant and equipment | — | — | — | — | — | — | $3.04B | $2.65B | $2.61B | $2.41B |
| Other intangibles | — | — | $77.0K | $2.3M | $5.0M | $10.1M | $14.6M | $23.4M | $41.1M | $0 |
| Total assets | $7.58B | $6.98B | $6.54B | $6.26B | $5.72B | $5.32B | $4.16B | $3.99B | $3.93B | $3.72B |
| Accounts payable | $204.5M | $169.2M | $151.8M | $156.6M | $223.5M | $141.5M | $129.7M | $135.2M | $96.9M | $107.2M |
| Short-term debt | $195.6M | $291.8M | $252.1M | $423.9M | $377.3M | $125.3M | $25.4M | $151.9M | $266.0M | $121.7M |
| Total current liabilities | $780.9M | $887.8M | $806.6M | $1.10B | $1.05B | $533.7M | $446.4M | $751.0M | $802.9M | $571.6M |
| Retained earnings | $1.45B | $1.30B | $1.18B | $1.07B | $934.6M | $947.5M | $906.1M | $1.01B | $868.0M | $825.6M |
| Total equity | $2.39B | $2.20B | $1.99B | $1.82B | $1.63B | $1.64B | $1.38B | $1.29B | $1.11B | $1.17B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $466.3M | $427.4M | $479.0M | $323.5M | $391.0M | $213.5M | $194.1M | $398.3M | $248.0M | $142.6M |
| Depreciation and amortisation | $188.8M | $166.6M | $152.9M | $129.2M | $111.4M | $107.4M | $81.1M | $76.6M | $81.8M | $72.7M |
| Capital expenditure | — | — | — | — | — | — | $300.0M | $206.9M | $144.1M | $176.1M |
| Investing cash flow | -$568.3M | -$569.1M | -$538.6M | -$590.6M | -$622.1M | -$994.0M | -$287.4M | -$373.1M | -$392.0M | -$363.2M |
| Financing cash flow | $102.0M | $141.8M | $59.7M | $262.5M | $117.8M | $895.9M | $95.6M | -$26.0M | $107.3M | $253.2M |
| Dividends paid | $180.1M | $165.1M | $151.0M | $127.7M | $117.0M | $117.8M | $104.1M | $95.8M | $88.0M | $82.4M |
| Buybacks | — | — | $0 | $0 | $27.2M | $0 | $0 | $22.8M | $6.4M | $1.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000356309-25-000093.
Others in SIC 4924
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|---|---|---|---|---|
| LNG | Cheniere Energy, Inc. | $60.31B | 12.1x | 26.3% |
| VG | Venture Global, Inc. | $35.89B | 16.8x | 176.9% |
| CQP | Cheniere Energy Partners, L.P. | $33.27B | — | 23.6% |
| ATO | ATMOS ENERGY CORP | $28.32B | 22.5x | 12.9% |
| NFG | NATIONAL FUEL GAS CO | $7.92B | 14.7x | 30.0% |
| OGS | ONE Gas, Inc. | $5.02B | 18.3x | — |
| SR | SPIRE INC | $4.89B | 18.9x | -4.5% |
| NWN | Northwest Natural Holding Co | $2.07B | 17.8x | 8.4% |