| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 45 | 14.7x | 17.3x | Around median | |
Growth | 64 | 7.0% | 7.1% | Around median | |
Quality | 44 | 7.1% | 4.5% | Around median | |
Safety | 38 | 5.1x | 2.6x | Bottom tier | |
Capital Return | 45 | 3.60% | 0.06% | Around median | |
Momentum | 63 | 9.3% | -1.6% | Around median | |
Sentiment | 45 | 6 | 3 | Around median |
The floor: what the company is worth if growth stopped today
76% of today's price is what a buyer pays for growth that has not happened yet.
10-year US Treasury yield 4.96% as of 2026-10-22. Estimates computed from company data and analyst targets, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
New Jersey Resources Corporation, listed under the ticker NJR, combines regulated natural gas distribution through New Jersey Natural Gas, storage and transportation through Storage and Transportation, and solar energy projects through Clean Energy Ventures. Its business model centers on serving gas customers, storage and transportation contracts, and operating clean energy projects. Earnings drivers differ across these businesses: the regulated utility depends on network investment and the rate-setting process, while storage and transportation benefit from recontracting, and clean energy benefits from bringing additional projects into service.
In quarter 3 of fiscal year 2026 ended 2026-06-30, revenue reached 258.0 million dollars, up 9.9% from the same quarter a year earlier, and net income reached 9.7 million dollars compared with a loss of 15.1 million dollars in quarter 3 of fiscal year 2025. The operating margin reached 12.4% versus -0.5% in the comparable period, and diluted earnings per share were 0.1 dollars. By business, management attributed improved contributions to additional projects entering service at Clean Energy Ventures and improved recontracting at Storage and Transportation, with New Jersey Natural Gas remaining the foundation of the group's outlook.
The figures illustrate differences in profitability and cash flows across periods: over the last 12 months through 2026-06-30, revenue reached 1.5 billion dollars and net income reached 366.2 million dollars, while operating cash flow according to EL7 data was approximately 659.0 million dollars. However, free cash flow as calculated by EL7 (operating cash flow minus capital expenditures) for the last 12 months was -515.6 million dollars. NJR's investment case therefore combines operating growth and strong conversion of earnings into operating cash with investment requirements that exceed the cash generated after capital expenditures.
Q3 FY2026
Last 12 months to 2026-06-30
When: 2026-11-18
Fiscal year 2026 non-GAAP net financial earnings per share result at the guidance floor of 3.52 dollars, in the expected earnings announcement
Fiscal year 2026 ratio of adjusted funds from operations to adjusted debt at the 20% threshold, in the expected earnings announcement
The median analyst target was 61 dollars, within a range of 61–68 dollars, an indicative estimate with low confidence because it is limited to two analysts; these targets reflect growth expectations and are inherently inclined toward optimism. The industry-multiple value was 59 dollars, within a range of 53–65 dollars, based on next year's earnings and a median multiple of 17.2 across 14 companies, effectively pricing NJR based on peer valuations. The no-growth value was 15 dollars at a discount rate of 8.7%, measuring the value of current after-tax operating profit continuing unchanged forever. The median analyst target and industry-multiple value are close, while the no-growth value is clearly lower than both, reflecting the importance of continued growth in explaining the difference between the methods.
Figures in the text are as of 2026-10-19; the live price is shown at the top of the page.
NJR combines New Jersey Natural Gas for regulated gas distribution, Storage and Transportation for storage and transportation, and Clean Energy Ventures for solar energy projects. On the 2026-08-04 call, management linked improved business contributions to additional clean energy projects entering service and recontracting on better terms in storage and transportation. It expects storage and transportation earnings to double between fiscal year 2025 ended 2025-09-30 and fiscal year 2027, with the regulated utility continuing to anchor the group's outlook.
Net income reached 366.2 million dollars over the last 12 months through 2026-06-30, compared with operating cash flow according to EL7 data of 659.0 million dollars, representing cash conversion of 180%. However, free cash flow as calculated by EL7 (operating cash flow minus capital expenditures) for the last 12 months was -515.6 million dollars. This means strong operating cash flow was insufficient to cover capital expenditures during the period, so investment financing needs remain a central part of assessing the business.
Automated analysis for informational purposes only — not investment advice.
On the 2026-08-04 call, management narrowed fiscal year 2026 non-GAAP net financial earnings per share guidance to 3.52–3.62 dollars, raising the midpoint. However, it clarified that fiscal year 2027 growth expectations would remain based on a starting point of 2.73 dollars for fiscal year 2025 ended 2025-09-30, with a growth rate of 7%–9%. It is therefore necessary to distinguish between improved fiscal year 2026 results and the long-term growth base, while awaiting the earnings announcement expected on 2026-11-18.
NJR announced on the 2026-08-04 call that the Leaf River expansion had received FERC certification ahead of the expected schedule, representing regulatory progress for the storage project. At Storage and Transportation, management expects earnings to double between fiscal year 2025 ended 2025-09-30 and fiscal year 2027, supported by recontracting. Meanwhile, Clean Energy Ventures opportunities to add capacity through existing interconnection points were outside the investment plan and require the investment structure, returns, and risks to be defined before they can be counted as a confirmed growth path.
Over 90 days through 2026-10-19, one sale by one insider was recorded, worth 166894 dollars. Sales under prearranged 10b5-1 trading plans totaled approximately 0 dollars, compared with 166894 dollars outside such plans. There were 0 open-market purchases worth 0 dollars, and the seller was an executive officer.