NewJersey Resources Corporation (NJR)
Return on assets (ROA)
| Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 289,775 | 264,724 | 274,922 | 117,890 | 163,007 |
| Total assets | US$ in thousands | 6,981,640 | 6,537,500 | 6,261,420 | 5,722,280 | 5,316,480 |
| ROA | 4.15% | 4.05% | 4.39% | 2.06% | 3.07% |
September 30, 2024 calculation
ROA = Net income ÷ Total assets
= $289,775K ÷ $6,981,640K
= 4.15%
NewJersey Resources Corporation's return on assets (ROA) has shown variability over the past five years. The ROA for the most recent period as of September 30, 2024, was 4.15%, which represents a slight increase compared to the previous year's ROA of 4.05%. The company's ROA was highest in September 30, 2022, at 4.39%, indicating a peak in profitability generated from its assets. In contrast, the ROA was lower in September 30, 2021, at 2.06%, and then showed some improvement in September 30, 2020, at 3.07%.
Overall, NewJersey Resources Corporation has been able to effectively generate returns from its assets, with the ROA consistently above 2% in the past five years. The fluctuation in ROA over this period suggests that the company's asset utilization and profitability have varied, with a notable peak in 2022. Continuous monitoring and analysis of ROA can help stakeholders assess the company's efficiency in generating profits relative to its asset base.
Peer comparison
Sep 30, 2024