NJRNEW JERSEY RESOURCES CORP
Natural Gas Distribution
- Revenue
- $1.4B
- 9.9% YoY
- Operating margin
- 37.7%
- 1.1% YoY
- EBITDA
- $698M
- 12% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- 4.5×
- $3.2B net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear139% of net incomeCash flow under 80% of net income
- Dilutive SBCClear1% of revenueOver 10% of revenue
- Payouts exceed cash flowClear39% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear—Over 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $852M | $1.2B | $1.1B | $1.2B | $1.4B | 9.9% |
| Operating income | $288M | $406M | $407M | $458M | $509M | 11% |
| Net income | $118M | $275M | $265M | $290M | $336M | 16% |
| Operating cash flow | $391M | $323M | $479M | $427M | $466M | 9.1% |
| Stock-based comp | $7M | $15M | $15M | $16M | $18M | 11% |
| Buybacks | $27M | $0 | $0 | — | — | |
| Dividends | $117M | $128M | $151M | $165M | $180M | 9.1% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
No pay-versus-performance disclosure yet.