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Regulated natural gas utility (New Jersey Natural Gas) plus clean-energy investments in solar and storage.
Regulated natural gas utility (New Jersey Natural Gas) plus clean-energy investments in solar and storage.
The gas utility earns a return the New Jersey Board of Public Utilities allows on its pipes and equipment, with gas costs passed through to customers rather than earned on. Unregulated units add solar projects, pipeline and storage assets such as the Leaf River storage site in Mississippi and the Adelphia Gateway pipeline, and wholesale gas marketing.
Moat: wide (regulatory licence, installed base). Regulated monopoly gas-utility franchise territory with guaranteed infrastructure returns.
Headquarters: Wall Township, New Jersey, US · Founded: 1952 · Employees: 1,372
Size New Jersey Resources (NJR) is a United States Utilities company (Gas Distributors) with a market value of $5.51B, the 1116th largest of 3,117 United States companies the cockpit tracks. Shares closed at $54.34 on 6 Nov 2026.
Performance Over six months the shares fell 2.2%, against +1.4% for the median peer and -1.1% for the United States market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 7.1% over the last twelve months (peer median +1.0%); the operating margin is 24.5% (peer median 19.7%).
Valuation It trades at 16.6× forward earnings against a peer median of 16.2× (11th cheapest of 21).
Capital Return on invested capital runs 0.2 points above its cost of capital (6.5% WACC).
Short interest Short interest is 4.6% of the free float (15 Oct 2026).
Next results Next results expected around 18 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $2.24B | $2.03B | $1.78B | $1.93B | $2.91B |
| Revenue growth | — | +14% | -8% | -34% | — |
| Gross profit | $548M | $436M | $437M | $300M | $397M |
| EBITDA | $750M | $625M | $603M | $455M | $535M |
| Net income | $366M | $336M | $290M | $265M | $275M |
| Free cash flow | -$88.8M | -$192M | -$161M | -$65.4M | -$182M |
| Capital expenditure | $772M | $660M | $571M | $500M | $559M |
| Total debt | $3.88B | $3.77B | $3.52B | $3.29B | $3.13B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| New Jersey Resources NJR | $5.51B | -2% | +7% | 24% | 16.6× | n/a |
| Atmos Energy ATO | $29.3B | -4% | +6% | 37% | 19.3× | n/a |
| NiSource NI | $21.2B | -6% | +10% | 27% | 20.3× | n/a |
| ONE Gas OGS | $5.09B | -5% | -2% | 21% | 16.6× | n/a |
| Spire SR | $5.25B | +4% | +4% | 20% | 17.9× | n/a |
| Southwest Gas SWX | $6.62B | +2% | -57% | 29% | 18.9× | n/a |
| UGI UGI | $7.94B | +15% | 0% | 14% | 10.6× | 6.1% |
| Chesapeake Utilities CPK | $3.38B | +11% | +15% | 27% | 20.4× | n/a |
| Northwest Natural NWN | $2.18B | +3% | +4% | 36% | 16.6× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | NJR | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.5% | +4.4% | 8th highest of 21 |
| 6-month return | -2.2% | +1.4% | 10th lowest of 21 |
| Distance from 52-week high | -10.7% | -14.4% | 8th highest of 21 |
| Revenue growth (TTM) | +7.1% | +1.0% | 4th highest of 21 |
| Operating margin | 24.5% | 19.7% | 5th highest of 20 |
| Forward P/E | 16.6× | 16.2× | 11th cheapest of 21 |
| ROIC minus cost of capital | +0.2 pp | -1.4 pp | 8th highest of 20 |
| EV / EBITDA | 12.5× | 10.4× | 6th most expensive of 19 |
| Net debt / EBITDA | 5.1× | 4.3× | 7th most indebted of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| New Jersey Resources NJR | United States | $5.51B | -2% | +7% | 24% | 16.6× | n/a | n/a |
| Spire SR | United States | $5.25B | +4% | +4% | 20% | 17.9× | n/a | n/a |
| Enagas ENG.MC | Spain | $5.22B | +7% | -2% | 21% | 19.4× | 15.0% | -2.2% |
| ONE Gas OGS | United States | $5.09B | -5% | -2% | 21% | 16.6× | n/a | n/a |
| Beijing Enterprises 0392.HK | Hong Kong | $4.93B | -3% | +5% | 4% | 6.3× | 7.7% | +6.7% |
| Brookfield Infrastructure BIPC.TO | Canada | $4.91B | +5% | +6% | 60% | 22.0× | n/a | n/a |
| China Resources Gas 1193.HK | Hong Kong | $4.77B | -13% | +1% | 6% | 10.7× | 1.8% | +11.8% |
| Black Hills BKH | United States | $6.47B | +13% | +3% | 24% | 18.2× | n/a | n/a |
| Southwest Gas SWX | United States | $6.62B | +2% | -57% | 29% | 18.9× | n/a | n/a |
| Enn Energy 2688.HK | Hong Kong | $7.02B | -17% | +6% | 7% | 7.6× | -3.4% | +8.6% |
| Excelerate Energy EE | United States | $4.17B | +9% | +49% | 22% | 18.6× | 18.1% | +23.3% |
| DCC Energy DCC.L | United Kingdom | $7.41B | +13% | -14% | 3% | 12.7× | 7.1% | +2.9% |
| MDU Resources MDU | United States | $3.92B | -17% | -30% | 17% | 18.9× | n/a | n/a |
| Transportadora de Gas del Sur SA Sponsored ADR Class B RegS TGS | United States | $3.80B | -27% | +11% | 44% | 8.2× | -14.6% | +11.8% |
| KunLun Energy 0135.HK | Hong Kong | $8.35B | +1% | +6% | 5% | 9.5× | -13.0% | +11.4% |
| China Gas 0384.HK | Hong Kong | $3.52B | -31% | -7% | 8% | 9.9× | 3.8% | +1.0% |
| China Suntien Green Energy 600956.SS | China | $3.40B | -18% | -12% | 13% | 15.9× | n/a | n/a |
| Chesapeake Utilities CPK | United States | $3.38B | +11% | +15% | 27% | 20.4× | n/a | n/a |
| Centrica CNA.L | United Kingdom | $9.23B | -25% | 0% | 23% | 13.1× | n/a | n/a |
| ENN Natural Gas 600803.SS | China | $9.83B | +5% | -1% | n/a | 11.8× | -6.1% | +8.4% |
| Canadian Utilities CU.TO | Canada | $10.1B | +9% | +1% | 16% | 18.9× | 20.1% | +2.7% |