NewJersey Resources Corporation (NJR)

Debt-to-equity 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-equity ratio		0.00	1.26	1.18	1.28	1.30	1.27	1.27	1.32	1.30	1.36	1.23	1.28	1.29	1.25	1.15	1.24	1.28	0.93	0.87	0.90

September 30, 2024 calculation

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

The debt-to-equity ratio of NewJersey Resources Corporation has shown fluctuations over the past few years, ranging from 0.00 to 1.36. The ratio indicates the company's financial leverage and its reliance on debt financing in relation to equity.

From December 2019 to March 2020, the debt-to-equity ratio increased from 0.90 to 1.24, suggesting a higher proportion of debt in the capital structure compared to equity. This trend continued to rise, reaching 1.36 by June 2022, reflecting a significant increase in debt relative to equity.

However, from June 2022 to June 2023, there was a slight decrease in the ratio indicating a moderation in the company's reliance on debt financing. Subsequently, the ratio hovered around 1.27 to 1.30 until September 2024, showing a relatively stable level of debt in comparison to equity during this period.

Overall, the trend in the debt-to-equity ratio of NewJersey Resources Corporation demonstrates fluctuations in the company's capital structure and financing decisions. Investors and analysts may monitor this ratio closely to assess the company's financial risk and stability.