NewJersey Resources Corporation (NJR)

Current ratio

		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	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Total current assets	US$ in thousands	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	511,606	509,971	605,185
Total current liabilities	US$ in thousands	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	446,377	582,045	583,799
Current ratio		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	1.15	0.88	1.04

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $676,958K ÷ $962,032K
= 0.70

The current ratio of New Jersey Resources Corporation has shown fluctuations over the past few quarters. In Q1 2024, the current ratio stood at 0.70, which indicates that the company may have difficulty meeting its short-term obligations with its current assets alone. Comparing this to Q4 2023 where the current ratio was 0.66, there has been a slight improvement.

Looking back to Q2 and Q3 of 2023, the current ratio was 0.87 and 0.78 respectively, suggesting the company had stronger liquidity positions during those periods. Q1 2023 also showed a current ratio of 0.95, indicating even better short-term liquidity at the start of the year.

In contrast, Q4 2022 and Q3 2022 had lower current ratios of 0.68 and 0.76 respectively, which may have signaled potential liquidity concerns during those quarters. The lowest current ratio was seen in Q2 2022 at 0.63, indicating a potential difficulty in meeting short-term obligations with current assets at that time.

Overall, the current ratio has exhibited variability, with some quarters indicating better liquidity positions than others. It is essential for New Jersey Resources Corporation to monitor and manage its current assets and liabilities effectively to ensure its ability to meet short-term obligations.