NewJersey Resources Corporation (NJR)

Return on assets (ROA)

		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
Net income (ttm)	US$ in thousands	238,214	264,724	282,222	293,743	279,531	274,922	219,267	94,383	148,157	117,890	162,295	254,828	178,865	173,572	148,386	159,282	159,009	169,505	135,164	129,292
Total assets	US$ in thousands	6,749,050	6,537,500	6,312,580	6,296,130	6,610,090	6,261,420	6,161,920	5,870,000	5,981,160	5,722,280	5,408,620	5,425,130	5,396,900	5,316,480	5,282,080	5,155,200	5,095,170	4,157,940	4,123,410	4,089,970
ROA		3.53%	4.05%	4.47%	4.67%	4.23%	4.39%	3.56%	1.61%	2.48%	2.06%	3.00%	4.70%	3.31%	3.26%	2.81%	3.09%	3.12%	4.08%	3.28%	3.16%

December 31, 2023 calculation

ROA = Net income (ttm) ÷ Total assets
= $238,214K ÷ $6,749,050K
= 3.53%

New Jersey Resources Corporation's return on assets (ROA) has shown fluctuations over the past eight quarters. In Q1 2024, the ROA was 3.53%, which decreased from the previous quarter's 4.05%. The ROA had been gradually increasing from Q2 2022 to Q2 2023, reaching a peak of 4.67% in Q2 2023. However, there was a slight decline in Q3 and Q4 2023.

Overall, the ROA of New Jersey Resources Corporation has been above 3% in most quarters, indicating that the company has been efficiently generating profits relative to its total assets. The fluctuation in ROA may indicate changes in the company's profitability and efficiency in utilizing its assets. Investors and analysts may further investigate the reasons behind these fluctuations to assess the company's financial performance and sustainability.