NEW JERSEY RESOURCES CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data NEW JERSEY RESOURCES CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,881	2,269	2,915	2,592	1,954	2,157	2,906	1,963	1,797	2,036
Cost of revenue	1,139	1,437	1,991
Gross profit	742	832	924
Operating expenses	1,713	2,097	2,715	2,438
Operating income	168	171	200	165	229	288	406	407	458	509
Interest expense	31	44.9	46.3	47.1	67.6	78.6	85.8	123	130	129
Interest income	0.13	2.03	0.61	1.62	2.96	2.17	2.72	8.92	8.67
Other non-operating income	9.2	10.3	13	11.3	23.9	24.6	22.3	26.1	41.6	46.2
Pre-tax income	146	137	167	129	185	234	343	310	369	427
Income tax	23.5	18.3	-53.8	18.4	36.5	33.3	76.2	49.3	84.9	97
Net income	132	132	233	124	163	118	275	265	290	336
EBITDA	240	253	286	246	336	400	536	560	625	698
EPS, basic	1.12	1.12	1.94	1.39	1.72	1.23	2.86	2.73	2.94	3.35
EPS, diluted	1.11	1.11	1.93	1.38	1.71	1.22	2.85	2.71	2.92	3.33
Shares, basic (weighted)	118	118	120	89.2	94.8	96.2	96.1	97	98.6	100
Shares, diluted (weighted)	119	119	121	89.6	95.1	96.6	96.5	97.6	99.3	101
Dividend per share	0.71	0.76	0.81	1.19	1.27	1.36	1.48	1.59	1.71	1.83

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	37.5	2.23	1.46	2.68	117	4.75	1.11	0.95	1.02	0.59
Other current assets	35.4	33.3	33.7	22.4	21	20.2	22.3	21.1	26.9	39.5
Total current assets	607	579	770	512	622	634	756	532	555	570
Property, plant and equipment	2,408	2,610	2,651	3,041
Lease right-of-use assets				0	132	174	169	176	184	186
Intangible assets	0	41.1	23.4	14.6	10.1	5.03	2.35	0.08
Other non-current assets	60.2	74.8	96.2	94.8	85.7	49.9	57.5	61.7	71.7	122
Total assets	3,719	3,929	4,144	4,158	5,316	5,722	6,261	6,537	6,982	7,579
Accounts payable	107	96.9	135	130	142	223	157	152	169	204
Deferred revenue			27.3			1.75	35.5	61.4	21.6	22.6
Short-term debt	61.5	165	124	21.4	27.2	72.8	75.1	116	189	158
Total current liabilities	572	803	751	446	534	1,051	1,104	807	888	781
Long-term debt	1,055	997	1,181	1,537	2,259	2,162	2,485	2,768	2,879	3,250
Lease liabilities				0	95	141	138	148	159	159
Other non-current liabilities	9.7	9.99	8.96	11.9	10.6	12	9.09	13.3	10.3	11.1
Total liabilities	2,552	2,692	2,849	2,991	3,673	4,091	4,444	4,547	4,781	5,187
Total debt	1,116	1,162	1,304	1,559	2,287	2,235	2,560	2,884	3,068	3,409
Paid-in capital	216	220	275	291	492	503	520	559	634	677
Retained earnings	826	868	1,007	1,076	948	935	1,068	1,178	1,299	1,451
Treasury stock	-81	-70	-76.5	-10.4	8.49	-12.4
Other comprehensive income	-15.2	-3.26	-12.6	-31.8	-44.3	-34.5	-4.83	-9.96	-6.52	-11.5
Shareholders' equity	1,167	1,237	1,295	1,382	1,644	1,631	1,817	1,991	2,200	2,392
Total equity	1,167	1,237	1,295	1,382	1,644	1,631	1,817	1,991	2,200	2,392
Total liabilities and equity	3,719	3,929	4,144	4,373	5,316	5,722	6,261	6,537	6,982	7,579
Shares outstanding	118	119	121	90	95.9	95.7	96.2	97.6	99.5	100

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	132	132	233	124	163	118	275	265	290	336
Depreciation and amortization	72.7	81.8	85.7	81.1	107	111	129	153	167	189
Stock-based compensation	7.23	5.81	12.8	9.8	6.54	7.15	14.8	14.7	16	17.8
Deferred income tax	27.7	41.4	15.6	-2.82	34.3	23.8	81.7	30.5	85.7	77
Change in receivables	11.3	-57	-7.52	63.8	5.07	-81.4	-16.7	113	-12.7	-15.1
Change in inventory	-46	3.02	15.5	14.3	-3.25	-25.3	-80.8	67.4	-11.1	-21.6
Change in payables	-15.7	13.1	40.4	2.26
Cash from operations	143	248	398	194	213	391	323	479	427	466
Capital expenditures	-176	-144	-207	-300
Acquisitions	0	0	-10	0
Cash from investing	-363	-392	-373	-287	-994	-622	-591	-539	-569	-568
Debt issued	275	100	225	468
Debt repaid	-13.3	-97.9	-165	-219
Stock issued	16	17.5	17.1	16.7	18.1	15.1	14.7
Share buybacks	-1.01	-6.36	0	0	0	-27.2	0	0
Dividends paid	-82.4	-88	-95.8	-104	-118	-117	-128	-151	-165	-180
Cash from financing	253	107	-26	95.6	896	118	263	59.7	142	102
Net change in cash	32.6	-36.6	-0.76	2.35	115	-113	-4.59	0.07	0.1	0.04
Free cash flow	-33.4	104	191	-106
Interest paid	32	44.4	44.8	50.4	66.1	78.7	84.4	108	120	130
Income taxes paid	-3.52	-6.88	5.58	12.6	7.59	6.38	4.25	4.28	21.3	9.88

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $50.61 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	24.8%	Operating income / revenue.
EBITDA margin	33.8%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	20.9%	Pre-tax income / revenue.
Net margin	16.4%	Net income / revenue.
Operating cash flow margin	29.6%	Cash from operations / revenue.
Effective tax rate	23.0%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	13.9%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	4.6%	Net income / average total assets.
Return on invested capital (ROIC)	7.0%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
D&A / revenue	9.0%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	13.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-11.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	0.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	11.1%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	7.8%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	17.3%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	11.7%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	9.2%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	15.7%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	15.8%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	6.9%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	15.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	14.0%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	5.3%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	14.3%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	9.1%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	13.0%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	16.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	6.7%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	7.3%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	7.5%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	8.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	9.6%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	7.8%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	8.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	6.6%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	7.3%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	1.5%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	1.5%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	1.2%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.66x	Current assets / current liabilities.
Quick ratio	0.04x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.04x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.32x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	43.4%	Total debt / total assets.
Liabilities / assets	67.1%	Total liabilities / total assets.
Net debt	$3.45B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	4.57x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	4.05x	Operating income / interest expense.
Working capital	-$317.3M	Current assets - current liabilities.
Tangible book value	$2.64B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.28x	Revenue / average total assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	$3.60	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$21.91	Revenue / diluted weighted shares.
Operating cash flow per share	$6.47	Cash from operations / diluted weighted shares.
Book value per share	$26.07	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$26.07	Tangible book value / shares outstanding.
Cash per share	$0.33	(Cash + short-term investments) / shares outstanding.
Payout ratio	51.5%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$5.14B	Share price x shares outstanding.
Enterprise value	$8.58B	Market cap + total debt - cash - short-term investments.
P/E	14.0x	Market cap / net income. Only when net income is positive.
P/S	2.30x	Market cap / revenue.
P/B	1.94x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.94x	Market cap / tangible book value, when positive.
P/OCF	7.79x	Market cap / cash from operations, when positive.
EV/Sales	3.85x	Enterprise value / revenue.
EV/EBIT	15.5x	Enterprise value / operating income, when both are positive.
EV/EBITDA	11.4x	Enterprise value / EBITDA, when both are positive.
Earnings yield	7.1%	Net income / market cap (the inverse of P/E).
Dividend yield	3.7%	Dividends paid over the period / market cap.
Shareholder yield	3.7%	(Dividends paid + share buybacks) / market cap.
PEG	2.63x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was NEW JERSEY RESOURCES CORP's revenue in fiscal 2025?

NEW JERSEY RESOURCES CORP reported revenue of $2.04B for fiscal 2025, 13.4% higher than the year before.

Was NEW JERSEY RESOURCES CORP profitable in fiscal 2025?

Yes. Net income was $335.6M, a net margin of 16.5%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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