NewJersey Resources Corporation (NJR)

Current ratio

		Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019
Total current assets	US$ in thousands	532,077	756,087	634,274	622,332	511,606
Total current liabilities	US$ in thousands	806,603	1,104,150	1,051,410	533,722	446,377
Current ratio		0.66	0.68	0.60	1.17	1.15

September 30, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $532,077K ÷ $806,603K
= 0.66

The current ratio of New Jersey Resources Corporation has exhibited some variability over the past five years. The ratio declined from 1.15 in 2019 to 0.6 in 2021, indicating a potential strain on the company's short-term liquidity. However, in 2020 the ratio rebounded to 1.17 before decreasing slightly to 0.68 in 2022 and further to 0.66 in 2023. This downward trend in recent years suggests a potential weakening of the company's ability to meet its short-term obligations with current assets. Further analysis and consideration of other liquidity metrics are advisable to provide a comprehensive assessment of the company's liquidity position.