NewJersey Resources Corporation (NJR)

Return on equity (ROE)

		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
Net income (ttm)	US$ in thousands	289,775	235,673	248,779	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
Total stockholders’ equity	US$ in thousands	2,200,440	2,143,020	2,179,220	2,066,200	1,990,740	1,995,240	2,000,840	1,922,800	1,817,210	1,768,680	1,784,290	1,716,980	1,630,860	1,682,070	1,821,830	1,698,210	1,643,900	1,612,480	1,654,740	1,608,090
ROE		13.17%	11.00%	11.42%	11.53%	13.30%	14.14%	14.68%	14.54%	15.13%	12.40%	5.29%	8.63%	7.23%	9.65%	13.99%	10.53%	10.56%	9.20%	9.63%	9.89%

September 30, 2024 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $289,775K ÷ $2,200,440K
= 13.17%

The return on equity (ROE) of NewJersey Resources Corporation has exhibited varying trends over the past few quarters. From December 2019 to September 2020, the ROE ranged between 9.20% and 13.99%, showing relative stability. However, in the following quarters, there was increased volatility in the ROE figures, with values fluctuating between 5.29% and 15.13%.

The highest ROE in the provided data was observed in the quarter ending September 2022 at 15.13%, indicating that the company was able to generate a solid return for its shareholders during that period. On the other hand, the lowest ROE was recorded in the quarter ending March 2022 at 5.29%, reflecting a significant dip in profitability compared to other periods.

Overall, the ROE of NewJersey Resources Corporation has shown a mix of positive and challenging performance levels, with fluctuations suggesting potential shifts in the company's efficiency in generating profits from shareholders' equity. It would be beneficial for stakeholders to further investigate the factors contributing to these fluctuations in ROE to gain a deeper understanding of the company's financial performance and strategic initiatives.