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NJRNew Jersey Resources Corporation
$57.47$5.8B
Overview & Verdict
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NJR logoNew Jersey Resources Corporation(NJR)Earnings, Financials & Key Ratios

NJR•NYSE•Utilities
$57.47
17.3× P/E·Price updated Jul 7, 2026
SectorUtilitiesIndustryGas UtilitiesSub-IndustryRegulated Gas Distribution Utilities
AboutNew Jersey Resources Corporation, an energy services holding company, provides regulated gas distribution, and retail and wholesale energy services. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Storage and Transportation. The Natural Gas Distribution segment offers regulated natural gas utility services to approximately 564,000 residential and commercial customers throughout Burlington, Middlesex, Monmouth, Morris, Ocean, and Sussex counties in New Jersey; provides capacity and storage management services; and participates in the off-system sales and capacity release markets. The Clean Energy Ventures segment invests in, owns, and operates commercial and residential solar projects situated in New Jersey, Connecticut, Rhode Island, and New York. The Energy Services segment offers unregulated wholesale energy management services to other energy companies and natural gas producers, as well as maintains and transacts a portfolio of physical assets consisting of natural gas storage and transportation contracts in the United States and Canada. The Storage and Transportation segment invests in natural gas transportation and storage facilities. It provides heating, ventilation, and cooling services; holds commercial real estate properties; and offers solar equipment installation, and plumbing repair and installation services, as well as engages in the water appliance sale, installation, and servicing activities. The company was incorporated in 1981 and is headquartered in Wall, New Jersey.Show more
  • Revenue$2.03B+13.9%
  • EBITDA$625M+3.5%
  • Net Income$336M+15.8%
  • Free Cash Flow-$240M-66.6%
  • EBITDA Margin30.72%-9.2%
  • Net Margin16.51%+1.6%
  • ROE14.62%+5.7%
  • Interest Coverage4.32+12.5%
  • Debt/Equity1.58-1.6%

NJR Price & Volume

New Jersey Resources Corporation (NJR) stock price & volume — 10-year historical chart

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Volatile Energy Services Obscure Regulated Utility Growth

Investment Thesis • Updated 2026Q2

VerdictNeutral
Growth:Expanding
Profitability:Moderate
Financial:Strained
Cash Flow:Burning
Primary Risk:Regulatory and Commodity Volatility

Key Thesis Takeaways

  • New Jersey Resources maintains an aggressive infrastructure investment strategy, evidenced by $414.4M in quarterly capital expenditures, aimed at expanding its regulated rate base.
  • However, the company's earnings quality remains compromised by significant mark-to-market volatility in its energy services segment, which caused EPS to swing from a 142.1% increase in 2024Q4 to an 83.7% decline in 2025Q4.
  • Investors should remain cautious regarding the long-term terminal value of gas assets given the potential for building electrification mandates under New Jersey's Energy Master Plan.

Verdict Logic

while the company offers a 3.1% dividend yield, the significant decoupling of GAAP net income from cash flow, such as the $218.9M net income versus $0 operating cash flow in 2026Q2, warrants a cautious stance.

NJR Growth Metrics

New Jersey Resources Corporation (NJR) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-2.8%
5 Years0.81%
3 Years-11.31%
TTM8.48%

Profit CAGR

10 Years6.37%
5 Years15.54%
3 Years6.88%
TTM-17.76%

EPS CAGR

10 Years4.72%
5 Years14.26%
3 Years5.33%
TTM-18.4%

Return on Capital

10 Years5.92%
5 Years6.82%
3 Years6.55%
Last Year6.76%

NJR Recent Earnings

New Jersey Resources Corporation (NJR) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 5/12 qtrs (42%)
Q2 2026Latest
May 4, 2026
Metric
Actual
Est
EPS
$2.20+16.4%
$1.89
Rev
$939M+10.5%
$850M
Q1 2026
Feb 2, 2026
Metric
Actual
Est
EPS
$1.17+23.2%
$0.95
Rev
$605M+9.6%
$552M
Q4 2025
Nov 19, 2025
Metric
Actual
Est
EPS
$0.16+6.1%
$0.15
Rev
$341M+14.0%
$300M
Q3 2025
Aug 4, 2025
Metric
Actual
Est
EPS
$0.06+200.0%
$0.06
Rev
$299M-2.7%
$307M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 4, 2026
$2.20vs $1.89+16.4%
$939Mvs $850M+10.5%
Q1 2026Feb 2, 2026
$1.17vs $0.95+23.2%
$605Mvs $552M+9.6%
Q4 2025Nov 19, 2025
$0.16vs $0.15+6.1%
$341Mvs $300M+14.0%
Q3 2025Aug 4, 2025
$0.06vs $0.06+200.0%
$299Mvs $307M-2.7%
Based on last 12 quarters of dataView full earnings history →

Latest NJR News

Recent stock market news and headlines for New Jersey Resources Corporation (NJR)

Business Wire·1 day ago
New Jersey Resources Schedules Fiscal 2026 Third Quarter Earnings Call

WALL, N.J.--(BUSINESS WIRE)--New Jersey Resources (NYSE: NJR) invites investors, customers, members of the financial community and other interested parties to listen to a live webcast of its fiscal 2026 third quarter financial results on Tuesday, August 4, 2026, at 10 a.m. ET. New Jersey Resources will release these results on Monday, August 3, 2026, after the close of the stock market. A few minutes prior to the webcast, visit www.njresources.com and select “Investor Relations.” Scroll down an.

GlobeNewsWire·Jun 24, 2026
Ocean Power Technologies Announces Deployment of PowerBuoy® System for Rutgers University and New Maritime Drone Order from Stevens Institute of Technology

MONROE TOWNSHIP, N.J., June 24, 2026 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (“OPT” or the “Company”) (NYSE American: OPTT) today announced the successful deployment and commissioning of a PowerBuoy® system off the coast of New Jersey in support of Rutgers, The State University of New Jersey. The Company also announced it has received a purchase order from Stevens Institute of Technology for one of its maritime drones, the WAM-V® unmanned surface vehicle.

Peers Comparison

Key metrics vs top competitors for New Jersey Resources Corporation (NJR)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
NJR logoNJRNew Jersey Resources CorporationCurrent
$57.47$5.8B17.2613.94%16.51%14.62%3.11%
SR logoSRSpire Inc.
$81.04$4.79B18.54-4.5%14.12%10.44%—
NWN logoNWNNorthwest Natural Holding Company
$49.81$2.1B17.9811.83%9.56%8.27%—
RGCO logoRGCORGC Resources, Inc.
$23.72$246.86M18.3912.63%13.01%11.87%—
NFG logoNFGNational Fuel Gas Company
$80.04$7.61B14.0917.11%27.48%20.37%—
ATO logoATOAtmos Energy Corporation
$177.58$29.64B23.8012.91%27.58%7.69%—

Compare NJR vs Peers

New Jersey Resources Corporation (NJR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs SR

Most directly comparable listed peer for NJR.

Scale Benchmark

vs NEE

Larger-name benchmark to compare NJR against a more recognizable public peer.

Peer Set

Compare Top 5

vs SR, NWN, RGCO, NFG

NJR SEC Filings & Documents

New Jersey Resources Corporation (NJR) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 4, 2026·SEC

Material company update

Feb 2, 2026·SEC

Material company update

Jan 23, 2026·SEC

10-K Annual Reports

3
FY 2025

Nov 20, 2025·SEC

FY 2024

Nov 26, 2024·SEC

FY 2023

Nov 21, 2023·SEC

10-Q Quarterly Reports

6
FY 2026

May 5, 2026·SEC

FY 2026

Feb 3, 2026·SEC

FY 2025

Aug 5, 2025·SEC

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NJR Frequently Asked Questions

New Jersey Resources Corporation (NJR) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is New Jersey Resources Corporation's revenue?

New Jersey Resources Corporation (NJR) reported $2.21B in revenue for fiscal year 2025. This represents a 303% increase from $548.5M in 1996.

How fast is New Jersey Resources Corporation growing?

New Jersey Resources Corporation (NJR) grew revenue by 13.9% over the past year. This is steady growth.

Is NJR profitable?

Yes, New Jersey Resources Corporation (NJR) is profitable, generating $341.4M in net income for fiscal year 2025 (16.5% net margin).

Dividend & Returns
Does NJR pay dividends?

Yes, New Jersey Resources Corporation (NJR) pays a dividend with a yield of 3.11%. This makes it attractive for income-focused investors.

What is NJR's return on equity?

New Jersey Resources Corporation (NJR) has a return on equity (ROE) of 14.6%. This is reasonable for most industries.

What is New Jersey Resources Corporation's free cash flow?

New Jersey Resources Corporation (NJR) had negative free cash flow of $527.3M in fiscal year 2025, likely due to heavy capital investments.

Industry Metrics
Is NJR's dividend sustainable?

New Jersey Resources Corporation (NJR) has a dividend payout ratio of 54%. This suggests the dividend is well-covered and sustainable.

What if you invested $1,000 in NJR back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →