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Utilities - Regulated gas · Utilities · Fiscal year ends Sep 30
New Jersey Resources reported revenue of $1.4B in the fiscal year ended Sep 2025, up 9.9% from the year before. Operating income was $509M, an operating margin of 37.7%, and net income was $336M. Net debt was $3.4B.
Ranks among the 16 utilities - regulated gas companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue | 852 | 1,199 | 1,112 | 1,230 | 1,351 |
| Operating income | 288 | 406 | 407 | 458 | 509 |
| Interest expense | 78.6 | 85.8 | 123 | 130 | 129 |
| Pre-tax income | 234 | 343 | 310 | 369 | 427 |
| Income tax | 33.3 | 76.2 | 49.3 | 84.9 | 97.0 |
| Net income | 118 | 275 | 265 | 290 | 336 |
| Diluted EPS | 1.22 | 2.85 | 2.71 | 2.92 | 3.33 |
| Diluted shares | 96.6 | 96.5 | 97.6 | 99.3 | 101 |
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 4.7 | 1.1 | 1.0 | 1.0 | 0.6 |
| Current assets | 634 | 756 | 532 | 555 | 570 |
| Total assets | 5,722 | 6,261 | 6,537 | 6,982 | 7,579 |
| Payables | 223 | 157 | 152 | 169 | 204 |
| Deferred revenue | 1.7 | 35.5 | 61.4 | 21.6 | 22.6 |
| Current liabilities | 1,051 | 1,104 | 807 | 888 | 781 |
| Short-term debt | 377 | 424 | 252 | 292 | 196 |
| Long-term debt | 2,162 | 2,485 | 2,768 | 2,879 | 3,250 |
| Total liabilities | 4,091 | 4,444 | 4,547 | 4,781 | 5,187 |
| Shareholders' equity | 1,631 | 1,817 | 1,991 | 2,200 | 2,392 |
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 391 | 323 | 479 | 427 | 466 |
| Depreciation & amortisation | 111 | 129 | 153 | 167 | 189 |
| Stock-based compensation | 7.1 | 14.8 | 14.7 | 16.0 | 17.8 |
| Share buybacks | 27.2 | 0.0 | 0.0 | – | – |
| Dividends paid | 117 | 128 | 151 | 165 | 180 |
| Dividend per share | 1.36 | 1.48 | 1.59 | 1.71 | 1.82 |
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 40.7% | −7.3% | 10.7% | 9.9% |
| Operating income growth (YoY) | – | 41.0% | 0.1% | 12.6% | 11.1% |
| EPS growth (YoY) | – | 133.6% | −4.9% | 7.7% | 14.0% |
| Operating margin | 33.8% | 33.9% | 36.6% | 37.2% | 37.7% |
| Net margin | 13.8% | 22.9% | 23.8% | 23.6% | 24.8% |
| Return on equityBlank when equity is negative | 7.2% | 15.1% | 13.3% | 13.2% | 14.0% |
| ROCEEBIT ÷ (assets − current liabilities) | 6.2% | 7.9% | 7.1% | 7.5% | 7.5% |
| Cash conversion (CFO ÷ net income) | 3.32x | 1.18x | 1.81x | 1.47x | 1.39x |
| Interest cover | 3.67x | 4.74x | 3.31x | 3.52x | 3.96x |
| Debt ÷ equity | 1.56x | 1.60x | 1.52x | 1.44x | 1.44x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 2,535 | 2,908 | 3,019 | 3,170 | 3,445 |
| Current ratio | 0.60x | 0.68x | 0.66x | 0.62x | 0.73x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.