NewJersey Resources Corporation (NJR)

Debt-to-capital ratio

		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
Long-term debt	US$ in thousands	—	2,692,840	2,567,840	2,637,840	2,587,840	2,537,840	2,537,840	2,537,840	2,362,840	2,412,840	2,202,840	2,202,840	2,102,840	2,102,840	2,102,840	2,102,840	2,102,840	1,492,840	1,442,840	1,442,840
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
Debt-to-capital ratio		0.00	0.56	0.54	0.56	0.57	0.56	0.56	0.57	0.57	0.58	0.55	0.56	0.56	0.56	0.54	0.55	0.56	0.48	0.47	0.47

September 30, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $2,200,440K)
= 0.00

The debt-to-capital ratio of NewJersey Resources Corporation has shown a relatively stable trend over the past few quarters, ranging between 0.47 to 0.58. As of September 30, 2024, the company has a debt-to-capital ratio of 0.00, indicating that it has no debt in its capital structure.

The ratio was slightly higher in the preceding quarters, with values ranging from 0.47 to 0.58. This suggests that the company has been utilizing debt as a source of financing in its capital structure, albeit to varying degrees. The increase in the ratio from 0.47 to 0.58 indicates a higher proportion of debt relative to capital in the company's financial structure.

Overall, the debt-to-capital ratio provides insight into the company's leverage and its reliance on debt financing. A lower ratio signifies lower financial risk and greater financial stability, while a higher ratio indicates higher leverage and potential increased financial risk. It is essential for stakeholders to closely monitor changes in the debt-to-capital ratio to assess the company's overall financial health and risk profile.