NEW Jersey Resources vs Spire
Spire is the larger business, with $2.48bn of revenue in fiscal 2025 against $2.04bn for NEW Jersey Resources (1.2 times as much). NEW Jersey Resources grew faster (13.4% against -4.5%). NEW Jersey Resources kept more of each dollar of sales as profit: a net margin of 16.5% against 11.0%. NEW Jersey Resources carries less debt relative to equity (150.7% against 152.6%).
| Latest fiscal year | NEW Jersey ResourcesNJR, 2025 | SpireSR, 2025 |
|---|---|---|
| Revenue | $2.04bn | $2.48bn |
| Revenue growth | 13.4% | -4.5% |
| Net income | $336m | $272m |
| Operating margin | 25.0% | 21.2% |
| Net margin | 16.5% | 11.0% |
| Return on equity | 14.6% | 8.2% |
| Free cash flow | $466m | −$344m |
| Cash | $591,000 | $5.7m |
| Total debt | $3.60bn | $5.17bn |
| Debt to equity | 150.7% | 152.6% |
| Dividend per share | $1.82 | $3.14 |
| Dividend yield | 3.4% | 3.6% |
| Share buybacks | — | — |
| Employees | 1,376 | 3,497 |
| Market value | $5.45bn | $5.22bn |
| Price vs our value range | Within our value range | — |
| Moat score | 44 (Weak) | 38 (Weak) |
| Insider trades, 12 months | 0 buys, 7 sales | 3 buys, 1 sales |