New Jersey Resources
NJR · Gas Utilities
$53.16
0.9%Southwest Gas
SWX · Gas Utilities
$91.15
0.1%The short version
- New Jersey Resources is the larger business, with $2.0B of revenue in fiscal 2025 against $1.9B for Southwest Gas.
- New Jersey Resources grew revenue faster (13.4%, against −21.6%).
- New Jersey Resources kept more of each dollar of sales as operating profit (25.0% operating margin, against 24.4% operating margin).
- New Jersey Resources earned a higher return on the capital invested in it (6.8%, against 4.7%).
- Investors pay more for each dollar of New Jersey Resources’s earnings: a P/E of 14.7x against 12.1x for Southwest Gas.
| Latest fiscal year | NJR · FY25 | SWX · FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.4B | $6.6B |
| Revenue | $2.0B | $1.9B |
| Free cash flow | — | −$252M |
| Net income | $336M | $440M |
| Growth | ||
| Revenue growth | 13.4% | −21.6% |
| 5-year growth | 0.8% | −10.1% |
| Share count change | 1.5% | 0.4% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 25.0% | 24.4% |
| Net margin | 16.5% | 22.7% |
| FCF margin | — | −13.0% |
| Return on capital | 6.8% | 4.7% |
| Return on equity | 14.6% | 11.8% |
| Balance sheet | ||
| Net debt | $3.6B | $2.9B |
| Net debt / EBITDA | 5.2x | 3.6x |
| Dividends and buybacks | $180M | $179M |
| Valuation & quality | ||
| P/E | 14.7x | 12.1x |
| Piotroski F-score | 7 | 6 |
FY16
NJR $1.9B
SWX $2.5B
FY17
NJR $2.3B
SWX $2.5B
FY18
NJR $2.9B
SWX $2.9B
FY19
NJR $2.6B
SWX $3.1B
FY20
NJR $2.0B
SWX $3.3B
FY21
NJR $2.2B
SWX $3.7B
FY22
NJR $2.9B
SWX $5.0B
FY23
NJR $2.0B
SWX $2.5B
FY24
NJR $1.8B
SWX $2.5B
FY25
NJR $2.0B
SWX $1.9B
NJR
SWX
FY16
NJR 8.9%
SWX 12.8%
FY17
NJR 7.6%
SWX 13.5%
FY18
NJR 6.9%
SWX 12.4%
FY19
NJR 6.4%
SWX 11.9%
FY20
NJR 11.7%
SWX 12.8%
FY21
NJR 13.4%
SWX 10.0%
FY22
NJR 14.0%
SWX −0.5%
FY23
NJR 20.7%
SWX 11.6%
FY24
NJR 25.5%
SWX 16.4%
FY25
NJR 25.0%
SWX 24.4%
NJR
SWX
FY16
NJR −$33.4M
SWX $71.0M
FY17
NJR $104M
SWX −$254M
FY18
NJR $191M
SWX −$237M
FY19
NJR −$106M
SWX −$438M
FY20
NJR —
SWX −$199M
FY21
NJR —
SWX −$604M
FY22
NJR —
SWX −$452M
FY23
NJR —
SWX −$257M
FY24
NJR —
SWX $509M
FY25
NJR —
SWX −$252M
NJR
SWX
FY16
NJR 6.4%
SWX —
FY17
NJR 5.9%
SWX 7.3%
FY18
NJR 7.4%
SWX 6.5%
FY19
NJR 4.9%
SWX 6.2%
FY20
NJR 5.3%
SWX 6.3%
FY21
NJR 6.1%
SWX 5.7%
FY22
NJR 7.0%
SWX −0.4%
FY23
NJR 6.9%
SWX 3.5%
FY24
NJR 6.6%
SWX 4.4%
FY25
NJR 6.8%
SWX 4.7%
NJR
SWX
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.