WallStSmart

NiSource Inc (NI)vsNewJersey Resources Corporation (NJR)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

NiSource Inc generates 213% more annual revenue ($6.82B vs $2.18B). NJR leads profitability with a 15.7% profit margin vs 14.1%. NJR appears more attractively valued with a PEG of 2.24. NJR earns a higher WallStSmart Score of 61/100 (C+).

NI

Buy

60

out of 100

Grade: C+

Growth: 5.3Profit: 7.0Value: 3.3Quality: 3.8
Piotroski: 4/9Altman Z: 0.59

NJR

Buy

61

out of 100

Grade: C+

Growth: 4.0Profit: 7.5Value: 4.7Quality: 4.3
Piotroski: 4/9Altman Z: 1.02
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

NISignificantly Overvalued (-79.4%)

Margin of Safety

-79.4%

Fair Value

$24.89

Current Price

$47.03

$22.14 premium

UndervaluedFair: $24.89Overvalued
NJRSignificantly Overvalued (-32.3%)

Margin of Safety

-32.3%

Fair Value

$39.96

Current Price

$55.82

$15.86 premium

UndervaluedFair: $39.96Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

NI2 strengths · Avg: 9.0/10
Operating MarginProfitability
34.8%10/10

Strong operational efficiency at 34.8%

Price/BookValuation
2.4x8/10

Reasonable price relative to book value

NJR3 strengths · Avg: 8.7/10
Operating MarginProfitability
32.0%10/10

Strong operational efficiency at 32.0%

P/E RatioValuation
16.6x8/10

Attractively priced relative to earnings

Price/BookValuation
2.3x8/10

Reasonable price relative to book value

Areas to Watch

NI3 concerns · Avg: 2.0/10
PEG RatioValuation
2.662/10

Expensive relative to growth rate

Free Cash FlowQuality
$-362.90M2/10

Negative free cash flow — burning cash

Altman Z-ScoreHealth
0.592/10

Distress zone — elevated risk

NJR3 concerns · Avg: 3.3/10
PEG RatioValuation
2.244/10

Expensive relative to growth rate

Revenue GrowthGrowth
2.9%4/10

2.9% revenue growth

Altman Z-ScoreHealth
1.022/10

Distress zone — elevated risk

Comparative Analysis Report

WallStSmart Research

Bull Case : NI

The strongest argument for NI centers on Operating Margin, Price/Book.

Bull Case : NJR

The strongest argument for NJR centers on Operating Margin, P/E Ratio, Price/Book. Profitability is solid with margins at 15.7% and operating margin at 32.0%.

Bear Case : NI

The primary concerns for NI are PEG Ratio, Free Cash Flow, Altman Z-Score.

Bear Case : NJR

The primary concerns for NJR are PEG Ratio, Revenue Growth, Altman Z-Score.

Key Dynamics to Monitor

NI carries more volatility with a beta of 0.57 — expect wider price swings.

NI is growing revenue faster at 8.2% — sustainability is the question.

NJR generates stronger free cash flow (366M), providing more financial flexibility.

Monitor UTILITIES - REGULATED GAS industry trends, competitive dynamics, and regulatory changes.

Bottom Line

NJR scores higher overall (61/100 vs 60/100), backed by strong 15.7% margins. Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

NiSource Inc

UTILITIES · UTILITIES - REGULATED GAS · USA

NiSource Inc. is one of the largest fully regulated utility companies in the United States. The company is based in Merrillville, Indiana.

NewJersey Resources Corporation

UTILITIES · UTILITIES - REGULATED GAS · USA

New Jersey Resources Corporation, an energy services portfolio company, provides regulated gas distribution and retail and wholesale energy services. The company is headquartered in Wall, New Jersey.

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