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Side-by-side financial comparison of Diversified Energy Co (DEC) and NEW JERSEY RESOURCES CORP (NJR). Click either name above to swap in a different company.
Diversified Energy Co is the larger business by last-quarter revenue ($666.5M vs $440.9M, roughly 1.5× NEW JERSEY RESOURCES CORP). Diversified Energy Co runs the higher net margin — 29.3% vs 27.8%, a 1.5% gap on every dollar of revenue.
DTE Energy is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services in the United States and Canada. Its operating units include an electric utility serving 2.2 million customers and a natural gas utility serving 1.3 million customers in Michigan.
New Jersey Resources is an energy services holding company based in Wall Township, New Jersey. It is a Fortune 1000 company, and a member of the Forbes Platinum 400. New Jersey Natural Gas is its principal subsidiary.
DEC vs NJR — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $666.5M | $440.9M |
| Net Profit | $195.5M | $122.5M |
| Gross Margin | — | — |
| Operating Margin | 37.6% | 40.6% |
| Net Margin | 29.3% | 27.8% |
| Revenue YoY | — | 22.8% |
| Net Profit YoY | — | -6.7% |
| EPS (diluted) | — | $1.21 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $666.5M | $440.9M | ||
| Q3 25 | $499.8M | $188.3M | ||
| Q2 25 | $600.3M | $234.8M | ||
| Q1 25 | — | $569.2M | ||
| Q4 24 | — | $359.0M | ||
| Q3 24 | — | $265.7M | ||
| Q2 24 | — | $209.9M | ||
| Q1 24 | — | $433.2M |
| Q4 25 | $195.5M | $122.5M | ||
| Q3 25 | $171.1M | $15.1M | ||
| Q2 25 | $297.7M | $-15.1M | ||
| Q1 25 | — | $204.3M | ||
| Q4 24 | — | $131.3M | ||
| Q3 24 | — | $91.1M | ||
| Q2 24 | — | $-11.6M | ||
| Q1 24 | — | $120.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 44.7% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 37.6% | 40.6% | ||
| Q3 25 | 36.2% | 21.5% | ||
| Q2 25 | 48.5% | -0.5% | ||
| Q1 25 | — | 49.2% | ||
| Q4 24 | — | 52.8% | ||
| Q3 24 | — | 55.0% | ||
| Q2 24 | — | 2.8% | ||
| Q1 24 | — | 39.3% |
| Q4 25 | 29.3% | 27.8% | ||
| Q3 25 | 34.2% | 8.0% | ||
| Q2 25 | 49.6% | -6.4% | ||
| Q1 25 | — | 35.9% | ||
| Q4 24 | — | 36.6% | ||
| Q3 24 | — | 34.3% | ||
| Q2 24 | — | -5.5% | ||
| Q1 24 | — | 27.9% |
| Q4 25 | — | $1.21 | ||
| Q3 25 | $2.14 | $0.15 | ||
| Q2 25 | $3.67 | $-0.15 | ||
| Q1 25 | — | $2.02 | ||
| Q4 24 | — | $1.31 | ||
| Q3 24 | — | $0.91 | ||
| Q2 24 | — | $-0.12 | ||
| Q1 24 | — | $1.22 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $29.7M | $2.4M |
| Total DebtLower is stronger | $2.7B | $3.3B |
| Stockholders' EquityBook value | $984.1M | $2.5B |
| Total Assets | $6.2B | $7.9B |
| Debt / EquityLower = less leverage | 2.76× | 1.32× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $29.7M | $2.4M | ||
| Q3 25 | — | $591.0K | ||
| Q2 25 | $23.7M | $931.0K | ||
| Q1 25 | — | $83.7M | ||
| Q4 24 | — | $1.9M | ||
| Q3 24 | — | $1.0M | ||
| Q2 24 | — | $22.4M | ||
| Q1 24 | — | $5.0M |
| Q4 25 | $2.7B | $3.3B | ||
| Q3 25 | — | $3.3B | ||
| Q2 25 | — | $3.0B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | — | $3.0B | ||
| Q3 24 | — | $2.9B | ||
| Q2 24 | — | $2.8B | ||
| Q1 24 | — | $2.7B |
| Q4 25 | $984.1M | $2.5B | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | $727.7M | $2.4B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | $2.1B | ||
| Q1 24 | — | $2.2B |
| Q4 25 | $6.2B | $7.9B | ||
| Q3 25 | — | $7.6B | ||
| Q2 25 | $5.7B | $7.3B | ||
| Q1 25 | — | $7.3B | ||
| Q4 24 | — | $7.2B | ||
| Q3 24 | — | $7.0B | ||
| Q2 24 | — | $6.8B | ||
| Q1 24 | — | $6.6B |
| Q4 25 | 2.76× | 1.32× | ||
| Q3 25 | — | 1.36× | ||
| Q2 25 | — | 1.25× | ||
| Q1 25 | — | 1.20× | ||
| Q4 24 | — | 1.29× | ||
| Q3 24 | — | 1.31× | ||
| Q2 24 | — | 1.30× | ||
| Q1 24 | — | 1.25× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $464.6M | $26.7M |
| Free Cash FlowOCF − Capex | $280.0M | — |
| FCF MarginFCF / Revenue | 42.0% | — |
| Capex IntensityCapex / Revenue | 27.7% | — |
| Cash ConversionOCF / Net Profit | 2.38× | 0.22× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $464.6M | $26.7M | ||
| Q3 25 | — | $81.2M | ||
| Q2 25 | $264.1M | $-28.9M | ||
| Q1 25 | — | $423.0M | ||
| Q4 24 | — | $-9.0M | ||
| Q3 24 | — | $64.5M | ||
| Q2 24 | — | $24.3M | ||
| Q1 24 | — | $292.2M |
| Q4 25 | $280.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 42.0% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 27.7% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 2.38× | 0.22× | ||
| Q3 25 | — | 5.39× | ||
| Q2 25 | 0.89× | — | ||
| Q1 25 | — | 2.07× | ||
| Q4 24 | — | -0.07× | ||
| Q3 24 | — | 0.71× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 2.42× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DEC
Segment breakdown not available.
NJR
| Residential | $284.1M | 64% |
| Commercialand Industrial | $53.4M | 12% |
| Firm Transportation | $34.7M | 8% |
| Storage And Transportation ST Segment | $28.1M | 6% |
| Home Services And Other HSO | $16.0M | 4% |
| Energy Services ES Segment | $12.8M | 3% |
| Installationand Maintenance | $6.6M | 1% |
| Electricity | $5.6M | 1% |
| Renewable Energy Certificates | $3.7M | 1% |
| Interruptibleand Offtariff | $2.4M | 1% |
