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New Jersey ResourcesFRA:NJ1 -1.26%70 Piotroski F-Score is 4 as of Aug. 21, 2026, which is 33% below its 10-year median of 6.00. GuruFocus rates FRA:NJ1 with a GF Score™ of 70/100 and a GF Value™ of €46.25 (Fairly Valued). The stock has 8 warning signs investors should review. Among 496 Utilities - Regulated companies, New Jersey Resources ranks worse than 78.63% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
New Jersey Resources has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
The historical rank and industry rank for New Jersey Resources's Piotroski F-Score or its related term are showing as below:
FRA:NJ1'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 6 Max: 7
Current: 4
During the past 13 years, the highest Piotroski F-Score of New Jersey Resources was 7. The lowest was 4. And the median was 6.
New Jersey Resources (FRA:NJ1) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
New Jersey Resources Piotroski F-Score Related Terms
New Jersey Resources Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for New Jersey Resources's Piotroski F-Score 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.
FRA:NJ1 vs BKH, SWX, OGS: Piotroski F-Score Comparison
For the Utilities - Regulated Gas subindustry, New Jersey Resources's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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 Piotroski F-Score vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, New Jersey Resources's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where New Jersey Resources's Piotroski F-Score 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.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
New Jersey Resources's current Net Income (TTM) was 315.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
New Jersey Resources's return on assets of this year was 0.04998115. New Jersey Resources's return on assets of last year was 0.06083842.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
New Jersey Resources's gearing of this year was 0.43873755. New Jersey Resources's gearing of last year was 0.42552041.
==> Last year is lower than this year ==> Score 0.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
New Jersey Resources's current ratio of this year was 0.66121323. New Jersey Resources's current ratio of last year was 0.76085192.
==> Last year's current ratio is higher ==> Score 0.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
New Jersey Resources's number of shares in issue this year was 101.78. New Jersey Resources's number of shares in issue last year was 100.373.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
New Jersey Resources's gross margin of this year was 0.38595911. New Jersey Resources's gross margin of last year was 0.39731793.
==> Last year's gross margin is higher ==> Score 0.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
New Jersey Resources's asset turnover of this year was 0.3042088. New Jersey Resources's asset turnover of last year was 0.30570962.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
New Jersey Resources has an F-score of 3. It is a bad or low score, which usually implies poor business operation.
New Jersey Resources (FRA:NJ1) has a Piotroski F-Score of 4 as of Aug. 21, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on New Jersey Resources and its competitors. This is 33% below median its historical median of 6.00. Over the past decade, New Jersey Resources' Piotroski F-Score has ranged from 4.00 to 7.00. According to the industry distribution chart, New Jersey Resources ranks #390 out of 496 companies in the Utilities - Regulated industry, placing it in the top 78.6%.
Is New Jersey Resources' Piotroski F-Score too high?
New Jersey Resources' current Piotroski F-Score of 4 is 33% below median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 7.00. The Utilities - Regulated industry median Piotroski F-Score is 6.00. New Jersey Resources' value of 4 is 33.3% below this industry median. Based on the distribution chart, New Jersey Resources ranks #390 out of 496 companies in the Utilities - Regulated industry, which is in the bottom quartile relative to peers. Overall, New Jersey Resources has a GF Score™ of 70/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does New Jersey Resources' Piotroski F-Score compare to BKH and SWX?
According to the Utilities - Regulated industry distribution chart, New Jersey Resources ranks #390 out of 496 companies for Piotroski F-Score. This places New Jersey Resources in the lower half of its industry. The industry median Piotroski F-Score is 6.00. New Jersey Resources' value of 4 is 33.3% below this benchmark. Historically, New Jersey Resources' own Piotroski F-Score has ranged from 4.00 to 7.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 6.00, New Jersey Resources has consistently been below 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 Piotroski F-Score for an Utilities - Regulated company?
The median Piotroski F-Score among Utilities - Regulated companies is 6.00, based on 496 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. New Jersey Resources's current Piotroski F-Score of 4 is 33.3% below 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 Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on New Jersey Resources and its competitors. For the Utilities - Regulated industry, the median Piotroski F-Score is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. New Jersey Resources's current Piotroski F-Score is 4, which is 33% below median its own 10-year median of 6.00. 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 (FRA:NJ1) is currently considered Fairly Valued. The stock's GF Value™ is €46.25, compared to a current price of €47.00 — trading 1.6% above its estimated fair value. The current Piotroski F-Score is 4, which is 33% below median its 10-year median of 6.00 and 33.3% below the Utilities - Regulated industry median of 6.00. New Jersey Resources' overall GF Score™ is 70/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For New Jersey Resources (FRA:NJ1), the current Piotroski F-Score is 4 as of Aug. 21, 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 (FRA:NJ1) Overvalued in 2026?
Based on GuruFocus' analysis, New Jersey Resources stock appears to be overvalued.
The current stock price of €47.00 is trading 1.6% above its estimated GF Value™ of €46.25.
GuruFocus considers New Jersey Resources to be Fairly Valued.
Key valuation signals for FRA:NJ1:
Piotroski F-Score: 4 (33% below median its 10-year median of 6.00)
GF Value™: €46.25 vs. price of €47.00 (1.6% above fair value)
Industry Position: 33.3% below the Utilities - Regulated median (#390 of 496)
No single metric tells the full story. See the FRA:NJ1 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.
70GF Score
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