MARKETS / NYSE / NJR

NYSE · NATURAL GAS DISTRIBUTION · LARGE CAP

NEW Jersey Resources Corp. NJR

18 fiscal years on record · USD · FY2025 reported · SEC filings only

11 YEARS OF DIVIDEND GROWTH

Revenue

$1.4B

▲ 9.9% YoY

Net income

$335.6M

▲ 15.8% YoY

In brief

What this company does

New Jersey Resources Corporation distributes natural gas through a regulated utility, invests in and operates clean energy projects and natural gas storage and transportation assets, and provides other retail and wholesale energy services to customers. As of September 30, 2025, the Company and its subsidiaries employed 1,376 employees, compared with 1,372 employees as of September 30, 2024. It operates within four reportable segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services and Storage and Transportation. Its Natural Gas Distribution segment, New Jersey Natural Gas Company, provides regulated natural gas utility service to residential and commercial customers throughout Burlington, Middlesex, Monmouth, Morris, Ocean and Sussex counties in New Jersey and participates in the off-system sales and capacity release markets. Its Clean Energy Ventures segment, CEV, owns and operates clean energy projects, including commercial solar installations in seven states, and had approximately 479 MW of solar capacity in service as of September 30, 2025. Its Energy Services segment, ES, consists of unregulated wholesale and retail natural gas operations and provides producer and asset management services to a diverse customer base across North America.

Written from the business description in New Jersey Resources Corporation's annual report to the U.S. Securities and Exchange Commission, filed 20 November 2025. Every sentence was checked against that document before publication.

Growth

USD 1.4B

Revenue, FY2025 · full 18-year series below

Revenue $B Net income $B

FY2025 · Revenue 1.4 · Net income 0.3

Compound annual growth

Revenue

+4.1%

+10.1%

−6.8%

−4.4%

Net income

+6.9%

+15.5%

+6.4%

+7.3%

EPS, diluted

+5.3%

+14.3%

+4.7%

Dividend / share

+7.3%

+7.5%

+7.1%

Returned to shareholders

+12.1%

+8.9%

+5.9%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +10.1% a year over five years — but profit grew faster: net income at +15.5%, earnings per share at +14.3%.

The share count rose from 0.10B to 0.10B over the period.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

25 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 37.7% · Net 24.8%

ROE

FY2025 · ROE 14.6%

Gross margin—

Operating margin37.7%

Net margin24.8%

Return on assets4.6%

EBITDAUSD 697.6M

Each USD of equity produced 15 cents of profit this year.

Cash & shareholders

USD 180.1M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2019 · FCF -105.9

Net buybacks $M Dividends $M

FY2025 · Dividends 180.1 · Net buybacks —

Dividends paidUSD 180.1M

Net buybacks—

Share of profit53.7%

Consecutive raises11 years (since the 2014 share-count change)

USD 180.1M in dividends — 54% of the year's profit went back to shareholders.

Total assetsUSD 7.6B

EquityUSD 2.4B

CashUSD 591,000.00

Gross debtUSD 3.4B

Net debtUSD 3.4B

Current ratio0.73×

Net debt stands at 144% of equity.

The 18-year record

18 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Revenue $B	1.4	1.2	1.1	1.2	0.9	0.8	0.8	2.9	2.3	1.9	2.7	3.7	3.2	2.2	3.0	2.6	2.6	3.8
Operating income $B	0.5	0.5	0.4	0.4	0.3	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.1	0.1	0.2	0.0	0.2
EBITDA $B	0.7	0.6	0.6	0.5	0.4	0.3	0.2	0.3	0.3	0.2	0.3	0.3	0.2	0.2	0.2	0.2	0.1	0.2
Income tax $B	0.1	0.1	0.0	0.1	0.0	0.0	0.0	−0.1	0.0	0.0	0.1	0.1	0.0	0.0	0.0	0.1	0.0	0.1
Net income $B	0.3	0.3	0.3	0.3	0.1	0.2	0.1	0.2	0.1	0.1	0.2	0.1	0.1	0.1	0.1	0.1	0.0	0.1
Free cash flow $B	·	·	·	·	·	·	−0.1	0.2	0.1	−0.0	0.3	0.2	0.0	−0.1	0.2	0.1	0.2	0.1
EPS, diluted $	3.33	2.92	2.71	2.85	1.22	1.71	1.38	2.64	1.52	1.52	2.10	1.67	1.37	2.23	2.44	2.82	0.64	2.59
Dividend / sh $	1.82	1.71	1.59	1.48	1.36	1.27	1.19	1.11	1.04	0.97	0.92	0.85	0.81	1.54	1.44	1.36	1.24	1.11
Payout %	54	57	57	46	99	72	84	41	67	63	42	50	59	66	58	45	187	41
ROE %	14.6	13.8	13.9	15.9	7.2	10.8	9.3	18.4	11.0	11.6	17.5	15.3	13.5	11.7	13.5	16.6	3.8	15.0
Shares out B	0.10	0.10	0.10	0.10	0.10	0.10	0.09	0.09	0.09	0.09	0.09	0.08	0.04	0.04	0.04	0.04	0.04	0.04

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Compare

This company against its peers

NEW Jersey Resources Corp.vsCheniere Energy, Inc.Same industry: Natural Gas Distribution NEW Jersey Resources Corp.vsCheniere Energy Partners, L.p.Same industry: Natural Gas Distribution NEW Jersey Resources Corp.vsAtmos Energy Corp.Same industry: Natural Gas Distribution NEW Jersey Resources Corp.vsSpire Inc.Same industry: Natural Gas Distribution NEW Jersey Resources Corp.vsNational Fuel GAS Co.Same industry: Natural Gas Distribution NEW Jersey Resources Corp.vsExcelerate Energy, Inc.Same industry: Natural Gas Distribution NEW Jersey Resources Corp.vsNorthwest Natural Holding Co.Same industry: Natural Gas Distribution

Provenance

Company facts, as filed

How we verify · 0 failures in 70 reconciliationsAUDITED

Reconciled in 18 of 19 fiscal years. 22 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityNatural Gas Distribution

Listed onNYSE

Incorporated inNew Jersey

Fiscal year endsSeptember 30

Data on record since2008