New Jersey Resources Corporation

NJR · Utilities · Utilities - Regulated Gas · Valued as of 2026-11-03 · Statements 2025-09-30

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

2.26B USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

3.90B USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

2.65B USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

2.94B USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

5.17B USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.57×

the ratio the screener ranks by

Margin of Safety

-76.0%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 2.26B USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)6.11B USD
−②Net Debt Today3.85B USD
+③Growth Value0 USD
=Value2.26B USD

EPV of the Operations (NOPAT over WACC)

6.11B USD

Net debt today

-3.85B USD

Growth Value

0 USD

Value

2.26B USD

①EPV (earnings power value)

6.11B USD

②Net Debt Today

3.85B USD

③Growth Value

0 USD

Market value

Market Cap5.17B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-128.6%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 3.90B USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.
①Present Value of the 15 Years of FCFE2.34B USD
+②Equity at Year 15, Today1.56B USD
=Value3.90B USD
FCFE: the net income left for the shareholders once the business keeps what next year's growth needsEquity reinvestment: the part of the year's net income kept in the business to grow the next year; below zero, capital the business releases to the shareholdersPresent value of the FCFEColoured bars show the FCFE, grey bars the equity reinvestment. With a positive equity reinvestment the two stacked are the year's normalized income; with a negative one the grey is below zero, capital the business releases, and the normalized income is the FCFE plus that negative amount. Shaded, years 6 to 10: the growth falling to its long-run rate and the ROE on new investment falling to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

2.34B USD

②Equity at Year 15, Today

1.56B USD

Market value

Market Cap5.17B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-32.5%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 2.65B USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).

The projection was not made (an FCFF at or below zero in the latest three years), so the value is the book value today, 2.65B USD, as the screener leaves it.

①Present Value of the 15 Years of FCFF

Not in the value

②Invested Capital at Year 15, Today

Not in the value

③Net Debt Today

Not in the value

Market value

Market Cap5.17B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-95.3%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 5.43%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.51×Market Risk Premium 6.00%= 7.58%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 97.05M USDPretax Income 426.94M USD= 22.73%

The tax the interest saves.

Interest Expense =EBIT 555.67M USD−Pretax Income 426.94M USD= 128.72M USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 128.72M USDTotal Debt 3.88B USD×(1 − Tax Rate for WACC 22.73%)= 2.56%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 3.88B USDMarket Cap + Total Debt 5.17B USD + 3.88B USD= 42.91%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 57.09%×Cost of Equity 7.58%+Debt Weight 42.91%×Cost of Debt 2.56%= 5.43%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-06-30.

Total Assets 8.03B USD − Total Liabilities 5.39B USD = Book Value Today 2.65B USD

Total Debt 3.88B USD − Cash and Short-Term Investments 33.99M USD = Net Debt Today 3.85B USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 13.9%at most 5%passes101,410,957 / 97,584,455
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets1.6%at least -10.0%passes(466.82M USD − 335.96M USD) ÷ 8.03B USD
Price to bookMarket Cap ÷ Book Value Today1.95×at most 3×passes5.17B USD ÷ 2.65B USD
Operating marginOperating Income ÷ Revenue22.1%above 10.0%passes451.12M USD ÷ 2.04B USD
Revenue growthRevenue ÷ Revenue a Year Before − 113.4%above 10.0%passes2.04B USD / 1.80B USD
Net cash(Cash − Total Debt) ÷ Market Cap-74.5%above -30%does not pass(33.99M USD − 3.88B USD) ÷ 5.17B USD
Operating efficiencyOperating Income ÷ Gross Profit62.0%above 25.0%passes451.12M USD ÷ 727.37M USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

51.20 USD

Enterprise value

9.05B USD

the provider's own figure

EV / EBITDA

12.01×

Price / book

1.96×

the provider's book

Price / earnings

14.17×

Return on equity

14.4%

the provider's figure, not this page's

Profit margin

16.4%

Revenue growth

16.8%

Analyst target, mean

59.92 USD

Analysts

7

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

USD2022202320242025
Income statement

Revenue

2.91B1.96B1.80B2.04B

Gross profit

595.76M611.09M685.68M727.37M

Operating income

406.88M407.41M458.56M451.12M

EBITDA

operating income before depreciation and amortisation

558.58M586.61M666.89M744.63M

Pretax income

343.28M310.38M369.75M426.94M

Net income

275.20M264.99M290.06M335.96M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

275.20M264.99M290.06M290.75M

R&D

————
Balance sheet, year end

Total assets

6.27B6.54B6.99B7.59B

Total liabilities

4.45B4.55B4.79B5.19B

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

1.82B1.99B2.20B2.39B

Total debt

3.13B3.29B3.53B3.77B

Cash and equivalents

1.11M954.95K1.02M591.59K

Net PP&E

fixed assets after depreciation

4.82B5.20B5.59B6.00B

Working capital

current assets less current liabilities

-348.41M-274.80M-333.51M-211.19M
Cash flow

Operating cash flow

323.80M479.47M427.83M466.82M

Capital expenditure

paid out, so below zero

-599.03M-541.46M-571.89M-706.78M

Depreciation and amortisation

129.38M153.09M166.73M188.96M

Free cash flow

operating cash flow plus capital expenditure

-275.22M-61.99M-144.06M-239.97M