New Jersey Resources Corporation (NJR) Key Metrics
NJR valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $5.30B
- Enterprise value
- $9.20B
- P/E (TTM)
- 14.5 10-yr median 16.8
- Forward P/E
- 14.9
- PEG ratio
- 2.22
- Price / sales
- 2.4 10-yr median 1.6
- Price / book
- 2.0 10-yr median 2.1
- EV / EBITDA
- 11.4 10-yr median 13.8
- Dividend yield
- 3.83% $2.00 a year
- Beta
- 0.50
NJR key metrics, FY2016–FY2025
Fiscal year ended September 30, 2025 · U.S. dollarsNJR valuation Price multiples at each fiscal year-end price.
NJR returns How much profit the business earns on the capital it uses.
NJR per-share figures Results divided by the shares outstanding at year-end.
NJR financial health Debt, liquidity and how easily interest is covered.
NJR efficiency & capital use Working capital cycle and where the cash goes.
NJR valuation history
NJR returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
NJR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
NJR cash returned to shareholders
NJR price vs earnings per share
NJR key metrics
FY2016–FY2025| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $4.85B | $4.69B | $3.97B | $3.73B | $3.36B | $2.57B | $4.05B | $4.07B | $3.67B | $2.85B |
| Enterprise value | $8.61B | $8.20B | $7.23B | $6.77B | $6.04B | $4.90B | $5.56B | $5.47B | $5.04B | $3.98B |
| P/E ratio | 14.5 | 16.2 | 15.0 | 13.6 | 28.5 | 15.8 | 23.9 | 17.4 | 27.8 | 21.6 |
| Price / sales | 2.4 | 2.6 | 2.1 | 1.3 | 1.6 | 1.3 | 1.6 | 1.4 | 1.6 | 1.5 |
| Price / book | 2.0 | 2.1 | 2.0 | 2.1 | 2.1 | 1.6 | 2.6 | 2.9 | 3.0 | 2.4 |
| Price / free cash flow | — | — | — | — | — | — | — | 200.1 | — | — |
| Price / operating cash flow | 10.4 | 11.0 | 8.3 | 11.5 | 8.6 | 12.0 | 20.9 | 10.2 | 14.8 | 20.0 |
| EV / sales | 4.2 | 4.6 | 3.7 | 2.3 | 2.8 | 2.5 | 2.1 | 1.9 | 2.2 | 2.2 |
| EV / EBITDA | 11.6 | 12.3 | 12.2 | 12.2 | 13.9 | 13.6 | 20.9 | 17.2 | 19.0 | 15.9 |
| EV / free cash flow | — | — | — | — | — | — | — | 269.0 | — | — |
| Earnings yield | 6.9% | 6.2% | 6.7% | 7.4% | 3.5% | 6.3% | 4.2% | 5.7% | 3.6% | 4.6% |
| Free cash flow yield | −4.9% | −3.1% | −1.6% | −7.4% | −7.0% | −10.0% | −7.6% | 0.5% | −2.1% | −7.4% |
| Dividend yield | 3.7% | 3.5% | 3.8% | 3.4% | 3.5% | 4.6% | 2.6% | 2.4% | 2.4% | 2.9% |
| Shareholder yield (dividends + buybacks) | 3.7% | 3.5% | 3.8% | 3.4% | 4.3% | 4.6% | 2.6% | 2.7% | 2.6% | 2.9% |
| Share price at fiscal year-end | $48.15 | $47.20 | $40.63 | $38.70 | $34.81 | $27.02 | $45.22 | $46.10 | $42.15 | $32.86 |
| Per share | ||||||||||
| Revenue per share | $20.17 | $17.97 | $19.76 | $30.21 | $22.02 | $20.53 | $28.99 | $33.11 | $25.93 | $21.31 |
| Earnings per share | $3.33 | $2.92 | $2.71 | $2.85 | $1.22 | $1.71 | $1.89 | $2.64 | $1.52 | $1.52 |
| Operating cash flow per share | $4.63 | $4.30 | $4.91 | $3.35 | $4.05 | $2.24 | $2.17 | $4.51 | $2.85 | $1.64 |
| Free cash flow per share | −$2.38 | −$1.45 | −$0.63 | −$2.85 | −$2.42 | −$2.70 | −$3.44 | $0.23 | −$0.89 | −$2.44 |
| Cash per share | $0.09 | $0.14 | $0.22 | $0.99 | $0.80 | $1.96 | $0.85 | $0.62 | $0.67 | $1.33 |
| Book value per share | $23.73 | $22.16 | $20.39 | $18.83 | $16.89 | $17.29 | $17.32 | $16.07 | $14.19 | $13.45 |
| Tangible book value per share | $23.62 | $22.06 | $20.30 | $18.75 | $16.78 | $17.13 | $17.15 | $15.80 | $13.72 | $11.40 |
| Dividends per share | $1.79 | $1.66 | $1.55 | $1.32 | $1.21 | $1.24 | $1.16 | $1.09 | $1.01 | $0.95 |
| Capex per share | $7.01 | $5.75 | $5.54 | $6.20 | $6.47 | $4.94 | $5.56 | $4.28 | $3.74 | $4.08 |
| Debt per share | $37.38 | $35.50 | $33.69 | $32.41 | $28.56 | $26.43 | $17.68 | $16.49 | $16.39 | $14.37 |
| Shares outstanding | 100.8M | 99.3M | 97.6M | 96.5M | 96.6M | 95.1M | 89.6M | 88.3M | 87.1M | 86.7M |
| Change in shares outstanding | +1.5% | +1.7% | +1.2% | −0.1% | +1.5% | +6.1% | +1.5% | +1.3% | +0.5% | +0.5% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 14.6% | 13.8% | 13.9% | 15.9% | 7.2% | 10.2% | 11.4% | 17.6% | 11.0% | 11.6% |
| Return on invested capital (ROIC) | 5.7% | 6.2% | 5.0% | 6.8% | 5.7% | 4.0% | 5.5% | 8.6% | 5.7% | 5.4% |
| Return on assets (ROA) | 4.6% | 4.3% | 4.1% | 4.6% | 2.1% | 3.4% | 4.0% | 5.8% | 3.5% | 3.7% |
| Return on tangible assets | 4.4% | 4.2% | 4.1% | 4.4% | 2.1% | 3.1% | 3.9% | 5.7% | 3.4% | 3.7% |
| Free cash flow margin | −11.8% | −8.1% | −3.2% | −9.4% | −11.0% | −13.1% | −11.9% | 0.7% | −3.4% | −11.4% |
| Income quality (OCF / net income) | 1.39 | 1.47 | 1.81 | 1.18 | 3.32 | 1.31 | 1.15 | 1.71 | 1.88 | 1.08 |
| Financial health | ||||||||||
| Total debt | $3.77B | $3.52B | $3.29B | $3.13B | $2.76B | $2.51B | $1.58B | $1.46B | $1.43B | $1.25B |
| Cash & short-term investments | $9.5M | $14.3M | $21.8M | $95.4M | $77.6M | $186.5M | $76.4M | $55.2M | $58.1M | $115.2M |
| Net debt | $3.76B | $3.51B | $3.27B | $3.03B | $2.68B | $2.33B | $1.51B | $1.40B | $1.37B | $1.13B |
| Debt / equity | 1.58 | 1.60 | 1.65 | 1.72 | 1.69 | 1.53 | 1.02 | 1.03 | 1.16 | 1.07 |
| Debt / assets | 0.50 | 0.50 | 0.50 | 0.50 | 0.48 | 0.47 | 0.36 | 0.35 | 0.36 | 0.33 |
| Net debt / EBITDA | 5.05 | 5.27 | 5.50 | 5.45 | 6.18 | 6.46 | 5.66 | 4.40 | 5.17 | 4.51 |
| Current ratio | 0.73 | 0.62 | 0.66 | 0.68 | 0.60 | 1.17 | 1.15 | 1.03 | 0.72 | 1.06 |
| Quick ratio | 0.40 | 0.36 | 0.38 | 0.42 | 0.40 | 0.81 | 0.73 | 0.76 | 0.46 | 0.68 |
| Interest coverage | 3.4 | 3.4 | 2.4 | 4.6 | 3.8 | 2.5 | 3.4 | 5.0 | 3.6 | 4.4 |
| Working capital | −$211.0M | −$333.2M | −$274.5M | −$348.1M | −$417.1M | $88.6M | $65.2M | $19.1M | −$223.5M | $35.7M |
| Invested capital | $6.15B | $5.71B | $5.26B | $4.85B | $4.31B | $3.97B | $3.06B | $2.82B | $2.61B | $2.30B |
| Tangible asset value | $2.38B | $2.19B | $1.98B | $1.81B | $1.62B | $1.63B | $1.54B | $1.40B | $1.20B | $997.4M |
| Net current asset value | −$4.62B | −$4.23B | −$4.01B | −$3.69B | −$3.46B | −$3.05B | −$2.31B | −$1.95B | −$2.11B | −$1.94B |
| Graham number | $42.17 | $38.15 | $35.27 | $34.75 | $21.54 | $25.82 | $27.15 | $30.91 | $22.00 | $21.43 |
| Graham net-net per share | −$49.02 | −$45.79 | −$44.26 | −$41.75 | −$38.81 | −$34.49 | −$28.33 | −$27.26 | −$27.21 | −$25.54 |
| Capital allocation | ||||||||||
| Dividends paid | $180.1M | $165.1M | $151.0M | $127.7M | $117.0M | $117.8M | $104.1M | $95.8M | $88.0M | $82.4M |
| Share buybacks (net) | $0 | $0 | $0 | $0 | $27.2M | $0 | $0 | $13.8M | $6.4M | $1.0M |
| Dividend payout ratio | 53.7% | 57.0% | 57.0% | 46.5% | 99.2% | 72.3% | 61.4% | 41.1% | 66.6% | 62.6% |
| Dividends + buybacks / free cash flow | — | — | — | — | — | — | — | 538.7% | — | — |
| Capex / revenue | 34.7% | 32.0% | 28.0% | 20.5% | 29.4% | 24.1% | 19.2% | 12.9% | 14.4% | 19.2% |
| Capex / operating cash flow | 151.4% | 133.7% | 112.9% | 185.0% | 159.8% | 220.2% | 256.6% | 94.9% | 131.3% | 248.3% |
| Capex / depreciation | 3.74 | 3.43 | 3.54 | 4.63 | 5.61 | 4.38 | 4.91 | 3.58 | 3.98 | 4.87 |
| Stock-based compensation / revenue | 0.9% | 0.9% | −1.9% | 0.5% | 7.6% | −0.7% | 0.4% | 0.4% | 0.3% | 0.4% |
| SG&A / revenue | 5.8% | 4.9% | 2.6% | 2.0% | 1.8% | 1.8% | 1.3% | 1.3% | 1.8% | 2.1% |
| Efficiency | ||||||||||
| Days sales outstanding | 25.0 | 26.2 | 33.3 | 27.8 | 31.1 | 28.2 | 26.0 | 26.5 | 29.0 | 31.0 |
| Days of inventory on hand | 56.8 | 62.8 | 58.3 | 36.8 | 40.1 | 38.2 | 28.8 | 28.5 | 38.4 | 42.4 |
| Days payables outstanding | 56.6 | 58.4 | 66.8 | 57.1 | 63.3 | 51.9 | 46.3 | 41.9 | 45.0 | 54.6 |
| Cash conversion cycle (days) | 25.2 | 30.6 | 24.8 | 7.5 | 7.9 | 14.5 | 8.5 | 13.1 | 22.3 | 18.7 |
| Receivables turnover | 14.58 | 13.95 | 10.97 | 13.13 | 11.73 | 12.94 | 14.06 | 13.77 | 12.60 | 11.77 |
| Payables turnover | 6.45 | 6.25 | 5.46 | 6.40 | 5.77 | 7.04 | 7.88 | 8.71 | 8.10 | 6.68 |
| Inventory turnover | 6.43 | 5.81 | 6.26 | 9.93 | 9.10 | 9.57 | 12.67 | 12.79 | 9.51 | 8.62 |
| Asset turnover | 0.28 | 0.26 | 0.30 | 0.49 | 0.39 | 0.40 | 0.61 | 0.72 | 0.59 | 0.52 |
| Average receivables | $139.5M | $128.0M | $175.9M | $222.0M | $181.3M | $150.9M | $184.7M | $212.4M | $179.4M | $157.0M |
| Average payables | $247.7M | $215.8M | $298.2M | $393.6M | $316.5M | $253.0M | $307.7M | $302.9M | $253.0M | $250.2M |
| Average inventory | $248.4M | $232.1M | $260.2M | $253.6M | $200.5M | $186.1M | $191.4M | $206.3M | $215.5M | $194.0M |
| Intangibles / total assets | 0.1% | 0.2% | 0.1% | 0.1% | 0.2% | 0.3% | 0.3% | 0.6% | 1.0% | 4.8% |
Computed from NJR's annual financial statements (latest annual report filed November 20, 2025) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
NJR valuation and financial ratios
At the end of fiscal 2025 (September 30, 2025), New Jersey Resources traded at 14.5 times earnings, against a 10-year median of 16.8. Based on the latest twelve months, the trailing P/E is 14.5 and the forward P/E is 14.9. New Jersey Resources earned a return on equity of 14.6% and a return on invested capital of 5.7% in fiscal 2025. It ended the year with $3.8 billion of debt and $9.5 million in cash and short-term investments, net debt of $3.8 billion. It returned $180.1 million to shareholders: $180.1 million in dividends and $0 in share buybacks. The share count rose 16.2% from 86.7M to 100.8M over 9 years.
See the NJR income statement, the NJR chart for price history, or the NJR stock overview for the latest quote and news.
NJR key metrics FAQ
What is New Jersey Resources's P/E ratio?
New Jersey Resources's trailing P/E ratio is 14.5 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 14.9. At the end of fiscal 2025 it was 14.5, compared with a 10-year median of 16.8.
What is New Jersey Resources's EV/EBITDA?
New Jersey Resources's enterprise value was 11.6 times EBITDA at the end of fiscal 2025 (enterprise value $8.6 billion, EBITDA $743.9 million); the current EV/EBITDA is 11.4.
What is New Jersey Resources's return on equity?
New Jersey Resources's return on equity (ROE) was 14.6% in fiscal 2025: net income of $335.6 million on average shareholders' equity of $2.3 billion.
What is New Jersey Resources's ROIC?
New Jersey Resources's return on invested capital was 5.7% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does New Jersey Resources have?
New Jersey Resources had total debt of $3.8 billion at the end of fiscal 2025, a debt-to-equity ratio of 1.58 and $3.8 billion of net debt (5.05 times EBITDA).
What is New Jersey Resources's dividend yield?
New Jersey Resources's forward dividend yield is 3.83%. New Jersey Resources paid $180.1 million in dividends in fiscal 2025 ($1.79 per share), a payout ratio of 53.7%.
What is New Jersey Resources's free cash flow yield?
New Jersey Resources generated -$239.7 million of free cash flow in fiscal 2025, a free cash flow yield of −4.9% on its market value at year-end ($4.9 billion).
What is New Jersey Resources's current ratio?
New Jersey Resources's current ratio was 0.73 at the end of fiscal 2025: current assets were 0.73 times current liabilities.