NJR
New Jersey Resources Corporation
NJR's fundamentals are mixed: it turned 43% of its revenue into free cash flow, but its operating margin fell 7 points to 36%. At 15x earnings, it's trading below its usual 17x. Analysts expect earnings growth.
NJR Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Weak |
NJR's revenue, profitability and cash flow are currently healthy, but its balance sheet is weak.
NJR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 15x | $53.18 | -3.3% |
| Current | 15x | $54.98 | — |
| Forward | 16x | $54.98 | — |
| Fair | 17x | $61.74 | +12% |
| Expensive | 22x | $78.81 | +43% |
Historical ranges are pointers, not guarantees.
NJR's PE is in its cheap range at 15x. On analysts' estimates for next year's earnings, today's price would be 16x, in its fair range.
NJR Forward outlook
| Metric | Outlook |
|---|---|
| Deteriorating | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for NJR, with profitability holding steady.
NJR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.41 | -5.7% |
| Q2 2026 | $3.62 | -11% |
| Q1 2026 | $3.37 | -18% |
| Q4 2025 | $3.23 | -2.7% |
| Q3 2025 | $3.33 | +14% |
| Q2 2025 | $4.09 | +72% |
| Q1 2025 | $4.12 | +63% |
| Q4 2024 | $3.32 | +37% |
| Q3 2024 | $2.92 | +7.7% |
NJR earned $3.62 per share over the past year, down 11% from the year before.
NJR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $258M | +9.9% |
| Q1 2026 | $641.4M | +13% |
| Q4 2025 | $440.9M | +23% |
| Q3 2025 | $188.3M | -29% |
| Q2 2025 | $234.8M | +12% |
| Q1 2025 | $569.2M | +31% |
| Q4 2024 | $359M | +12% |
| Q3 2024 | $265.7M | +63% |
NJR's revenue is growing: $258M last quarter, up 9.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 12% | +13 points |
| Q1 2026 | 47% | -2.2 points |
| Q4 2025 | 41% | -12 points |
| Q3 2025 | 21% | -34 points |
| Q2 2025 | -0.5% | -3.3 points |
| Q1 2025 | 49% | +9.9 points |
| Q4 2024 | 53% | +11 points |
| Q3 2024 | 55% | +16 points |
NJR's operating margin was 12% last quarter, up 13 points from the same quarter a year ago.
NJR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$11.6M | +$17.3M |
| Q1 2026 | $562.6M | +33% |
| Q4 2025 | $26.7M | +$35.7M |
| Q3 2025 | $81.2M | +26% |
| Q2 2025 | -$28.9M | -219% |
| Q1 2025 | $423M | +45% |
| Q4 2024 | -$9M | -119% |
| Q3 2024 | $64.5M | -29% |
NJR usually generates cash, though not every quarter: the latest was −$12M, but it generated $659M over the past year.
NJR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +298K shares |
| 1 year | +1.4% | +1.4M shares |
| 3 years | +4% | +3.9M shares |
| 5 years | +5.6% | +5.4M shares |
| Available history | +14% | +12.2M shares |
NJR has 102M diluted shares, up 1.4% from a year ago.
NJR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 4.9x | High |
| Q1 2026 | 4.9x | High |
| Q4 2025 | 5.5x | High |
| Q3 2025 | 5.2x | High |
| Q2 2025 | 4.2x | High |
| Q1 2025 | 3.9x | Elevated |
| Q4 2024 | 5.0x | High |
| Q3 2024 | 5.4x | High |
NJR's net debt is about 4.9 years of its operating earnings (EBITDA), up from 4.2 years a year ago.
NJR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 54.6 | Neutral |
| Stochastic | 53.1 | Neutral |
NJR's weekly RSI is 55 (neutral) and its Stochastic is 53 (neutral).
NJR PE vs Utilities Sector
| Metric | NJR | Sector median | Relative |
|---|---|---|---|
| PE | 15x | 20x | 26% below |
| PE % | 24 | 44 | 20 pts below |
NJR is trading at 15x earnings, a 26% discount to the Utilities sector's median of 20x.
NJR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $52.7 | 4.4% above |
| 20 week MA | $54.6 | 0.8% above |
| 50 week MA | $53.5 | 2.9% above |
| 100 week MA | $50.2 | 9.6% above |
| 200 week MA | $47.9 | 15% above |
NJR is in an uptrend: it's above all five of its weekly moving averages, and 15% above its 200-week average.
NJR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $43.9 | $35.1 | -20% |
| 2021 | $35.1 | $40.5 | +15% |
| 2022 | $40.5 | $49.6 | +23% |
| 2023 | $49.6 | $44.6 | -10% |
| 2024 | $44.6 | $46.5 | +4.4% |
| 2025 | $46.5 | $46.1 | -1% |
| 2026 YTD | $46.1 | $55.0 | +19% |
NJR has finished lower in three of the last six years. It's up 19% so far in 2026.