• NewJersey Resources average debt/equity ratio for 2023 was 1.35, a 2.17% decline from 2022.
• NewJersey Resources average debt/equity ratio for 2022 was 1.38, a 6.15% decline from 2021.
• NewJersey Resources average debt/equity ratio for 2021 was 1.3, a 17.12% increase from 2020.

Debt/equity ratio can be defined as a measure of a company's financial leverage calculated by dividing its long-term debt by stockholders' equity.