Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
New Jersey ResourcesNJR -2.21%73 Debt-to-EBITDA is 9.68 as of Jun. 2026, which is 76% above its 10-year median of 5.51. GuruFocus rates NJR with a GF Score™ of 73/100 and a GF Value™ of $53.96 (Fairly Valued). The stock has 8 warning signs investors should review. Among 448 Utilities - Regulated companies, New Jersey Resources ranks worse than 61.83% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for New Jersey Resources's Debt-to-EBITDA or its related term are showing as below:
NJR'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 4.83 Med: 5.51 Max: 6.98
Current: 4.83
During the past 13 years, the highest Debt-to-EBITDA Ratio of New Jersey Resources was 6.98. The lowest was 4.83. And the median was 5.51.
NJR's Debt-to-EBITDA is ranked worse than 61.83% of 448
companies
in the Utilities - Regulated industry
Industry Median: 3.935
vs NJR: 4.83
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
New Jersey Resources Debt-to-EBITDA Related Terms
New Jersey Resources Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for New Jersey Resources's Debt-to-EBITDA can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Utilities - Regulated Gas subindustry, New Jersey Resources's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
New Jersey Resources Debt-to-EBITDA vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, New Jersey Resources's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where New Jersey Resources's Debt-to-EBITDA falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Jun. 2026) EBITDA data.
New Jersey Resources (NJR) has a Debt-to-EBITDA of 9.68 as of Jun. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on New Jersey Resources. This is 76% above median its historical median of 5.51. Over the past decade, New Jersey Resources' Debt-to-EBITDA has ranged from 4.83 to 6.98. According to the industry distribution chart, New Jersey Resources ranks #277 out of 448 companies in the Utilities - Regulated industry, placing it in the top 61.8%.
Is New Jersey Resources' Debt-to-EBITDA too high?
New Jersey Resources' current Debt-to-EBITDA of 9.68 is 76% above median its 10-year median of 5.51. Over the past 10 years, this metric has ranged from a low of 4.83 to a high of 6.98. The Utilities - Regulated industry median Debt-to-EBITDA is 3.94. New Jersey Resources' value of 9.68 is 146% above this industry median. Based on the distribution chart, New Jersey Resources ranks #277 out of 448 companies in the Utilities - Regulated industry, which is below the industry midpoint. Overall, New Jersey Resources has a GF Score™ of 73/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does New Jersey Resources' Debt-to-EBITDA compare to BKH and SWX?
According to the Utilities - Regulated industry distribution chart, New Jersey Resources ranks #277 out of 448 companies for Debt-to-EBITDA. This places New Jersey Resources in the lower half of its industry. The industry median Debt-to-EBITDA is 3.94. New Jersey Resources' value of 9.68 is 146% above this benchmark. Historically, New Jersey Resources' own Debt-to-EBITDA has ranged from 4.83 to 6.98 over the past decade. While the company's 10-year median is 5.51 vs. the industry median of 3.94, New Jersey Resources has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for an Utilities - Regulated company?
The median Debt-to-EBITDA among Utilities - Regulated companies is 3.94, based on 448 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. New Jersey Resources's current Debt-to-EBITDA of 9.68 is 146% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on New Jersey Resources. For the Utilities - Regulated industry, the median Debt-to-EBITDA is 3.94 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. New Jersey Resources's current Debt-to-EBITDA is 9.68, which is 76% above median its own 10-year median of 5.51. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is New Jersey Resources stock overvalued right now?
Based on GuruFocus' analysis, New Jersey Resources (NJR) is currently considered Fairly Valued. The stock's GF Value™ is $53.96, compared to a current price of $53.63 — trading 0.6% below its estimated fair value. The current Debt-to-EBITDA is 9.68, which is 76% above median its 10-year median of 5.51 and 146% above the Utilities - Regulated industry median of 3.94. New Jersey Resources' overall GF Score™ is 73/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For New Jersey Resources (NJR), the current Debt-to-EBITDA is 9.68 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is New Jersey Resources (NJR) Overvalued in 2026?
Based on GuruFocus' analysis, New Jersey Resources stock appears to be undervalued.
The current stock price of $53.63 is trading 0.6% below its estimated GF Value™ of $53.96.
GuruFocus considers New Jersey Resources to be Fairly Valued.
Key valuation signals for NJR:
Debt-to-EBITDA: 9.68 (76% above median its 10-year median of 5.51)
GF Value™: $53.96 vs. price of $53.63 (0.6% below fair value)
Industry Position: 146% above the Utilities - Regulated median (#277 of 448)
No single metric tells the full story. See the NJR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
New Jersey Resources is an energy services holding company with regulated and nonregulated operations. Its regulated utility, New Jersey Natural Gas, delivers natural gas to nearly 600,000 customers in the state. NJR's nonregulated businesses include investments in commercial solar projects and several large midstream natural gas projects.
73GF Score
Get the complete analysis for NJR
Debt-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NJR has been successfully added to your 
