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National Fuel Gas vs New Jersey Resources: revenue, profit, margins and growth compared

National Fuel Gas brought in $2.3B of revenue in fiscal 2025, New Jersey Resources $2B in fiscal 2025. Revenue changed by +17.1% at National Fuel Gas and +13.4% at New Jersey Resources on the year before, so National Fuel Gas grew faster. National Fuel Gas kept 22.8% of its revenue as net profit, New Jersey Resources 16.5%.

Side by side, latest fiscal year

NFGNJR
Fiscal year endedFY2025 (September 30, 2025)FY2025 (September 30, 2025)
Revenue$2.3B$2B
Revenue growth+17.1%+13.4%
Net income$518.5M$335.6M
Net margin22.8%16.5%
Free cash flow$187.2Mn/a
Free cash flow margin8.2%n/a
Earnings per share (diluted)$5.68$3.33
Cash$43.2M$591K
Debt$2.7B$3.4B
Price to earnings13.915.2
Market value$7.5B$5.1B
Dividend yield2.66%3.61%
Rank by revenue in sector#56 of 109 · Utilities#58 of 109 · Utilities

Over the years

Revenue
NFG FY2018: $1.6BNFG FY2019: $1.7BNFG FY2020: $1.5BNFG FY2021: $1.7BNFG FY2022: $3.1BNFG FY2023: $2.3BNFG FY2024: $1.9BNFG FY2025: $2.3BNJR FY2018: $2.9BNJR FY2019: $2.6BNJR FY2020: $2BNJR FY2021: $2.2BNJR FY2022: $2.9BNJR FY2023: $2BNJR FY2024: $1.8BNJR FY2025: $2BFY18FY19FY20FY21FY22FY23FY24FY25
NFG $2.3BNJR $2B
Net income
NFG FY2018: $391.5MNFG FY2019: $304.3MNFG FY2020: -$123.8MNFG FY2021: $363.6MNFG FY2022: $566MNFG FY2023: $476.9MNFG FY2024: $77.5MNFG FY2025: $518.5MNJR FY2018: $233.4MNJR FY2019: $123.9MNJR FY2020: $163MNJR FY2021: $117.9MNJR FY2022: $274.9MNJR FY2023: $264.7MNJR FY2024: $289.8MNJR FY2025: $335.6MFY18FY19FY20FY21FY22FY23FY24FY25
NFG $518.5MNJR $335.6M
Net margin
NFG FY2018: 24.6%NFG FY2019: 18.0%NFG FY2020: -8.0%NFG FY2021: 20.9%NFG FY2022: 18.5%NFG FY2023: 21.1%NFG FY2024: 4.0%NFG FY2025: 22.8%NJR FY2018: 8.0%NJR FY2019: 4.8%NJR FY2020: 8.3%NJR FY2021: 5.5%NJR FY2022: 9.5%NJR FY2023: 13.5%NJR FY2024: 16.1%NJR FY2025: 16.5%FY18FY19FY20FY21FY22FY23FY24FY25
NFG 22.8%NJR 16.5%
Revenue growth
NFG FY2019: +6.3%NFG FY2020: -8.7%NFG FY2021: +12.7%NFG FY2022: +75.7%NFG FY2023: -26.3%NFG FY2024: -13.8%NFG FY2025: +17.1%NJR FY2019: -11.1%NJR FY2020: -24.6%NJR FY2021: +10.4%NJR FY2022: +34.7%NJR FY2023: -32.4%NJR FY2024: -8.5%NJR FY2025: +13.4%FY19FY20FY21FY22FY23FY24FY25
NFG +17.1%NJR +13.4%
Free cash flow
NFG FY2018: $31.3MNFG FY2019: -$94.5MNFG FY2020: $24.7MNFG FY2021: $39.8MNFG FY2022: $695KNFG FY2023: $227.2MNFG FY2024: $134.7MNFG FY2025: $187.2MNJR FY2018: $191.4MNJR FY2019: -$105.9MFY18FY19FY20FY21FY22FY23FY24FY25
NFG $187.2MNJR -$105.9M

Fiscal years as each company reports them; the two may end in different months.

Questions about National Fuel Gas and New Jersey Resources

Which is bigger by revenue, National Fuel Gas or New Jersey Resources?

National Fuel Gas is bigger by revenue: $2.3B in fiscal 2025, against $2B for New Jersey Resources in fiscal 2025.

Which keeps more of its revenue as profit, National Fuel Gas or New Jersey Resources?

National Fuel Gas had a net margin of 22.8% in fiscal 2025; New Jersey Resources had 16.5% in fiscal 2025.

Which grew revenue faster, National Fuel Gas or New Jersey Resources?

In their latest fiscal years revenue changed by +17.1% at National Fuel Gas and +13.4% at New Jersey Resources.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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