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Side-by-side financial comparison of NEW JERSEY RESOURCES CORP (NJR) and Frontier Group Holdings, Inc. (ULCC). Click either name above to swap in a different company.
Frontier Group Holdings, Inc. is the larger business by last-quarter revenue ($997.0M vs $939.4M, roughly 1.1× NEW JERSEY RESOURCES CORP). NEW JERSEY RESOURCES CORP runs the higher net margin — 23.3% vs 5.3%, a 18.0% gap on every dollar of revenue. On growth, Frontier Group Holdings, Inc. posted the faster year-over-year revenue change (-0.5% vs -33.0%). Over the past eight quarters, NEW JERSEY RESOURCES CORP's revenue compounded faster (111.6% CAGR vs 7.4%).
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.
Frontier Communications Parent, Inc. is an American telecommunications company with a fiber-optic network and cloud-based services owned by Verizon. It was previously known as Citizens Utilities Co., Citizens Communications Co., and Frontier Communications Corp.
NJR vs ULCC — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $939.4M | $997.0M |
| Net Profit | $218.9M | $53.0M |
| Gross Margin | — | — |
| Operating Margin | 32.0% | 4.9% |
| Net Margin | 23.3% | 5.3% |
| Revenue YoY | -33.0% | -0.5% |
| Net Profit YoY | 7.2% | -1.9% |
| EPS (diluted) | $2.16 | $0.24 |
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.
| Q1 26 | $939.4M | — | ||
| Q4 25 | $440.9M | $997.0M | ||
| Q3 25 | $188.3M | $886.0M | ||
| Q2 25 | $234.8M | $929.0M | ||
| Q1 25 | $569.2M | $912.0M | ||
| Q4 24 | $359.0M | $1.0B | ||
| Q3 24 | $265.7M | $935.0M | ||
| Q2 24 | $209.9M | $973.0M |
| Q1 26 | $218.9M | — | ||
| Q4 25 | $122.5M | $53.0M | ||
| Q3 25 | $15.1M | $-77.0M | ||
| Q2 25 | $-15.1M | $-70.0M | ||
| Q1 25 | $204.3M | $-43.0M | ||
| Q4 24 | $131.3M | $54.0M | ||
| Q3 24 | $91.1M | $26.0M | ||
| Q2 24 | $-11.6M | $31.0M |
| Q1 26 | 32.0% | — | ||
| Q4 25 | 40.6% | 4.9% | ||
| Q3 25 | 21.5% | -8.7% | ||
| Q2 25 | -0.5% | -8.1% | ||
| Q1 25 | 49.2% | -5.0% | ||
| Q4 24 | 52.8% | 4.5% | ||
| Q3 24 | 55.0% | 2.0% | ||
| Q2 24 | 2.8% | 2.6% |
| Q1 26 | 23.3% | — | ||
| Q4 25 | 27.8% | 5.3% | ||
| Q3 25 | 8.0% | -8.7% | ||
| Q2 25 | -6.4% | -7.5% | ||
| Q1 25 | 35.9% | -4.7% | ||
| Q4 24 | 36.6% | 5.4% | ||
| Q3 24 | 34.3% | 2.8% | ||
| Q2 24 | -5.5% | 3.2% |
| Q1 26 | $2.16 | — | ||
| Q4 25 | $1.21 | $0.24 | ||
| Q3 25 | $0.15 | $-0.34 | ||
| Q2 25 | $-0.15 | $-0.31 | ||
| Q1 25 | $2.02 | $-0.19 | ||
| Q4 24 | $1.31 | $0.24 | ||
| Q3 24 | $0.91 | $0.11 | ||
| Q2 24 | $-0.12 | $0.14 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $671.0M |
| Total DebtLower is stronger | — | $620.0M |
| Stockholders' EquityBook value | — | $491.0M |
| Total Assets | — | $7.2B |
| Debt / EquityLower = less leverage | — | 1.26× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $2.4M | $671.0M | ||
| Q3 25 | $591.0K | $566.0M | ||
| Q2 25 | $931.0K | $563.0M | ||
| Q1 25 | $83.7M | $686.0M | ||
| Q4 24 | $1.9M | $740.0M | ||
| Q3 24 | $1.0M | $576.0M | ||
| Q2 24 | $22.4M | $658.0M |
| Q1 26 | — | — | ||
| Q4 25 | $3.3B | $620.0M | ||
| Q3 25 | $3.3B | $673.0M | ||
| Q2 25 | $3.0B | $565.0M | ||
| Q1 25 | $3.0B | $512.0M | ||
| Q4 24 | $3.0B | $507.0M | ||
| Q3 24 | $2.9B | $474.0M | ||
| Q2 24 | $2.8B | $455.0M |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $491.0M | ||
| Q3 25 | $2.4B | $434.0M | ||
| Q2 25 | $2.4B | $506.0M | ||
| Q1 25 | $2.5B | $570.0M | ||
| Q4 24 | $2.3B | $604.0M | ||
| Q3 24 | $2.2B | $549.0M | ||
| Q2 24 | $2.1B | $520.0M |
| Q1 26 | — | — | ||
| Q4 25 | $7.9B | $7.2B | ||
| Q3 25 | $7.6B | $6.7B | ||
| Q2 25 | $7.3B | $6.5B | ||
| Q1 25 | $7.3B | $6.5B | ||
| Q4 24 | $7.2B | $6.2B | ||
| Q3 24 | $7.0B | $5.8B | ||
| Q2 24 | $6.8B | $5.7B |
| Q1 26 | — | — | ||
| Q4 25 | 1.32× | 1.26× | ||
| Q3 25 | 1.36× | 1.55× | ||
| Q2 25 | 1.25× | 1.12× | ||
| Q1 25 | 1.20× | 0.90× | ||
| Q4 24 | 1.29× | 0.84× | ||
| Q3 24 | 1.31× | 0.86× | ||
| Q2 24 | 1.30× | 0.88× |
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 | — | $-91.0M |
| Free Cash FlowOCF − Capex | — | $-113.0M |
| FCF MarginFCF / Revenue | — | -11.3% |
| Capex IntensityCapex / Revenue | — | 2.2% |
| Cash ConversionOCF / Net Profit | — | -1.72× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-600.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $26.7M | $-91.0M | ||
| Q3 25 | $81.2M | $-215.0M | ||
| Q2 25 | $-28.9M | $-133.0M | ||
| Q1 25 | $423.0M | $-86.0M | ||
| Q4 24 | $-9.0M | $87.0M | ||
| Q3 24 | $64.5M | $-156.0M | ||
| Q2 24 | $24.3M | $9.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-113.0M | ||
| Q3 25 | — | $-217.0M | ||
| Q2 25 | — | $-166.0M | ||
| Q1 25 | — | $-104.0M | ||
| Q4 24 | — | $73.0M | ||
| Q3 24 | — | $-170.0M | ||
| Q2 24 | — | $-22.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | -11.3% | ||
| Q3 25 | — | -24.5% | ||
| Q2 25 | — | -17.9% | ||
| Q1 25 | — | -11.4% | ||
| Q4 24 | — | 7.3% | ||
| Q3 24 | — | -18.2% | ||
| Q2 24 | — | -2.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.2% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | — | 3.6% | ||
| Q1 25 | — | 2.0% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 3.2% |
| Q1 26 | — | — | ||
| Q4 25 | 0.22× | -1.72× | ||
| Q3 25 | 5.39× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 2.07× | — | ||
| Q4 24 | -0.07× | 1.61× | ||
| Q3 24 | 0.71× | -6.00× | ||
| Q2 24 | — | 0.29× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NJR
| Utility | $640.9M | 68% |
| Nonutility | $298.5M | 32% |
ULCC
| Aircraft Fare | $453.0M | 45% |
| Passenger Service Fees | $227.0M | 23% |
| Passenger Baggage | $177.0M | 18% |
| Passenger Seat Selection | $69.0M | 7% |
| Other Passenger Revenue | $36.0M | 4% |
| Other | $35.0M | 4% |
