NewJersey Resources Corporation (NJR)

Current ratio

		Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019
Total current assets	US$ in thousands	554,595	534,394	553,711	676,958	532,077	520,360	615,972	1,011,820	756,087	740,082	556,036	760,322	634,274	518,258	535,228	609,204	622,332	521,078	500,874	692,611
Total current liabilities	US$ in thousands	887,774	894,347	789,096	962,032	806,603	668,954	711,477	1,066,240	1,104,150	969,434	882,137	1,097,770	1,051,410	613,626	416,066	518,672	533,722	902,259	824,349	805,543
Current ratio		0.62	0.60	0.70	0.70	0.66	0.78	0.87	0.95	0.68	0.76	0.63	0.69	0.60	0.84	1.29	1.17	1.17	0.58	0.61	0.86

September 30, 2024 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $554,595K ÷ $887,774K
= 0.62

The current ratio of NewJersey Resources Corporation has exhibited fluctuations over the past several quarters. The ratio measures the company's ability to cover its short-term liabilities with its current assets.

As of Sep 30, 2024, the current ratio stands at 0.62, indicating that the company may have difficulties meeting its short-term obligations with its current assets alone. This is a decrease from the previous quarter's ratio of 0.60.

Looking back at the trend, the current ratio has varied between 0.58 and 1.29 over the past two years. The ratio reached its peak at 1.29 in March 2021, suggesting a strong ability to cover short-term liabilities with current assets. However, it has generally trended downwards since then.

The decreasing trend in the current ratio from 2022 to 2024 may indicate a decline in the company's liquidity position or potential issues in managing short-term obligations. Further analysis and comparison with industry benchmarks would be necessary to fully assess the implications of these changes in the current ratio for NewJersey Resources Corporation.