NewJersey Resources Corporation (NJR)

Return on equity (ROE)

		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 stockholders’ equity	US$ in thousands	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	1,381,830	1,572,200	1,569,160
ROE		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%	12.27%	8.60%	8.24%

December 31, 2023 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $238,214K ÷ $2,066,200K
= 11.53%

New Jersey Resources Corporation's return on equity (ROE) has shown some fluctuations over the past eight quarters. ROE for the company decreased from 15.13% in Q4 2022 to 5.29% in Q2 2022, indicating a significant drop in profitability during that period. However, the ROE gradually improved in the following quarters, reaching 14.68% in Q2 2023. Despite this partial recovery, the ROE declined slightly in Q1 2024 to 11.53%.

Overall, New Jersey Resources Corporation's ROE reflects a generally positive trend with some variability. Investors may view the company's profitability positively, especially considering the recent improvement in ROE. Additional analysis of the company's financial performance and comparison with industry peers could provide a more comprehensive understanding of its profitability and efficiency.