NewJersey Resources Corporation (NJR)
Interest coverage
Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
---|---|---|---|---|---|---|
Earnings before interest and tax (EBIT) | US$ in thousands | 458,104 | 437,013 | 436,947 | 229,735 | 267,098 |
Interest expense | US$ in thousands | — | 123,014 | 85,830 | 78,559 | 67,597 |
Interest coverage | — | 3.55 | 5.09 | 2.92 | 3.95 |
September 30, 2024 calculation
Interest coverage = EBIT ÷ Interest expense
= $458,104K ÷ $—K
= —
The interest coverage ratio of NewJersey Resources Corporation has fluctuated over the past five years. In 2020, the interest coverage ratio was 3.95, indicating that the company earned nearly 4 times the amount needed to cover its interest expenses. The ratio then increased to 5.09 in 2022, reflecting a stronger ability to cover interest payments. However, there was a decline in 2023 to 3.55, suggesting that the company's ability to cover interest expenses reduced compared to the previous year. Unfortunately, the interest coverage ratio for 2024 is not available for analysis. Overall, the trend in the interest coverage ratio indicates some variability in the company's ability to meet its interest obligations from year to year.
Peer comparison
Sep 30, 2024