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Spire vs New Jersey Resources: SR and NJR compared
Spire is the larger company: $420M of revenue in its latest quarter (Q3 FY26) against $349M for New Jersey Resources (Q3 FY26). New Jersey Resources is growing faster (+17% against -0.4% a year earlier). New Jersey Resources is more profitable, with an operating margin of 9.1% against 5.6%.
Where the money goes: SR and NJR
Spire (SR) · Q3 FY26
Spire, Q3 FY26: revenue $420M (-0.4% year over year), operating margin 5.6%, net earnings $211M, operating cash flow $122M. The chart follows the revenue to costs, profit and cash.
New Jersey Resources (NJR) · Q3 FY26
New Jersey Resources, Q3 FY26: revenue $349M (+17% year over year), operating margin 9.1%, net earnings $9.7M, operating cash flow −$11.6M. The chart follows the revenue to costs, profit and cash.
| Spire (SR) | New Jersey Resources (NJR) | |
|---|---|---|
| Latest quarter | Q3 FY26 | Q3 FY26 |
| Revenue | $420M | $349M |
| Revenue growth, Y/Y | -0.4% | +17% |
| Operating margin | 5.6% | 9.1% |
| Net earnings | $211M | $9.7M |
| Net margin | 50.3% | 2.8% |
| Operating cash flow | $122M | −$11.6M |
| Market value | $5.3B | $5.5B |
| P/E | 17.9× | 15.4× |
| Analysts’ mean target | $91.00 | $59.71 |
Where the revenue comes from
New Jersey Resources
- Natural gas utility sales: $172M (49%)
- Other revenues: $91.0M (26%)
- Natural gas services: $49.4M (14%)
- Electricity sales: $10.6M (3%)
Questions
Which is bigger, Spire or New Jersey Resources?
Spire is the larger company: $420M of revenue in its latest quarter (Q3 FY26) against $349M for New Jersey Resources (Q3 FY26).
Is Spire or New Jersey Resources growing faster?
New Jersey Resources is growing faster (+17% against -0.4% a year earlier).
Which is more profitable, Spire or New Jersey Resources?
New Jersey Resources is more profitable, with an operating margin of 9.1% against 5.6%.
More: Spire earnings · how Spire makes money · New Jersey Resources earnings · how New Jersey Resources makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 5, 2026; 10-Q filed Aug 4, 2026). Fiscal quarters can end on different dates. Not investment advice.