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