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Middlesex Water Company(MSEX)Earnings, Financials & Key Ratios
MSEX•NASDAQ•Utilities
$50.93
$946M mkt cap·21.6× P/E·Price updated May 6, 2026
AboutMiddlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. The Regulated segment collects, treats, and distributes water on a retail and wholesale basis to residential, commercial, industrial, and fire protection customers, as well as provides regulated wastewater systems in New Jersey and Delaware. The Non-Regulated segment provides non-regulated contract services for the operation and maintenance of municipal and private water and wastewater systems in New Jersey and Delaware. The company was incorporated in 1896 and is headquartered in Iselin, New Jersey.Show more
- Revenue$195M+1.5%
- EBITDA$87M+6.9%
- Net Income$43M-3.4%
- Free Cash Flow-$34M-112.4%
- EBITDA Margin44.62%+5.4%
- Net Margin21.99%-4.8%
- ROE9.1%-10.5%
- Interest Coverage4.33-13.6%
- Debt/Equity0.85-1.7%
- Net Debt/EBITDA4.79+2.0%
- CapEx / Revenue49.49%+27.3%
- CapEx Coverage0.65-17.5%
MSEX Key Insights
Middlesex Water Company (MSEX) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓21 years of consecutive dividend growth
- ✓21 consecutive years of dividend growth
- ✓Strong interest coverage of 4.3x
- ✓Healthy dividend yield of 2.7%
✗Weaknesses
No significant weaknesses identified
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
MSEX Price & Volume
Middlesex Water Company (MSEX) stock price & volume — 10-year historical chart
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MSEX Growth Metrics
Middlesex Water Company (MSEX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years4.45%
5 Years6.58%
3 Years6.22%
TTM1.76%
Profit CAGR
10 Years7.9%
5 Years2.19%
3 Years0.31%
TTM1.85%
EPS CAGR
10 Years6.82%
5 Years1.6%
3 Years-0.42%
TTM3150%
Return on Capital
10 Years4.96%
5 Years4.26%
3 Years4.27%
Last Year4.45%
MSEX Recent Earnings
Middlesex Water Company (MSEX) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 3/12 qtrs (25%)●Beat Revenue 5/12 qtrs (42%)
Q2 2026Latest
Apr 30, 2026EPS
$0.57
Est $0.57
+0.0%
Revenue
$49M
Est $50M
-2.1%
Q1 2026
Feb 19, 2026EPS
$0.46
Est $0.49
-6.1%
Revenue
$47M
Est $47M
+0.1%
Q4 2025
Oct 31, 2025EPS
$0.77
Est $0.86
-10.5%
Revenue
$54M
Est $48M
+13.6%
Q3 2025
Jul 31, 2025EPS
$0.60
Est $0.68
-11.8%
Revenue
$49M
Est $61M
-18.5%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 30, 2026 | $0.57vs $0.57+0.0% | $49Mvs $50M-2.1% |
| Q1 2026 | Feb 19, 2026 | $0.46vs $0.49-6.1% | $47Mvs $47M+0.1% |
| Q4 2025 | Oct 31, 2025 | $0.77vs $0.86-10.5% | $54Mvs $48M+13.6% |
| Q3 2025 | Jul 31, 2025 | $0.60vs $0.68-11.8% | $49Mvs $61M-18.5% |
Based on last 12 quarters of dataView full earnings history →
MSEX Peer Comparison
Middlesex Water Company (MSEX) competitors in Regulated Water and Wastewater Utilities — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 AWR | 2.95B | 76.20 | 22.61 | 10.52% | 20.43% | 12.89% | 0.12 | |
 YORW | 464.9M | 29.11 | 20.94 | 3.37% | 25.89% | 8.89% | 0.97 | |
 ARTNA | 323.19M | 31.41 | 14.21 | 4.62% | 20.21% | 9.26% | 0.73 | |
 GWRS | 202.11M | 7.03 | 63.91 | 5.82% | 5.3% | 3.58% | 0.09 | |
 AWK | 24.62B | 126.05 | 22.11 | 9.74% | 21.17% | 10.14% | 1.47 | |
 CWT | 2.58B | 43.04 | 20.02 | -3.54% | 11.77% | 6.95% | 0.95 | |
 WTRG | 10.62B | 37.49 | 17.04 | 18.62% | 24.91% | 9.18% | 1.22 | |
 XYL | 27.67B | 116.39 | 29.69 | 5.52% | 10.7% | 8.51% | 3.29% | 0.17 |
Compare MSEX vs Peers
Middlesex Water Company (MSEX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
MSEX Income Statement
Middlesex Water Company (MSEX) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 130.78M | 138.08M | 134.6M | 141.59M | 143.14M | 162.43M | 166.27M | 191.88M | 194.69M | 199.11M |
| Revenue Growth % | -1.6% | 5.58% | -2.52% | 5.2% | 1.09% | 13.48% | 2.36% | 15.4% | 1.47% | 1.76% |
| Cost of Revenue | 64.67M | 71.57M | 67.98M | 70.8M | 73.67M | 79.1M | 83.11M | 92.36M | 118.4M | 84.06M |
| Gross Profit | 66.11M▲ 0% | 66.51M▲ 0.6% | 66.62M▲ 0.2% | 70.8M▲ 6.3% | 69.47M▼ 1.9% | 83.34M▲ 20.0% | 83.16M▼ 0.2% | 99.51M▲ 19.7% | 76.29M▼ 23.3% | 66.33M▲ 0% |
| Gross Margin % | 50.55% | 48.17% | 49.49% | 50% | 48.53% | 51.31% | 50.01% | 51.86% | 39.18% | 33.31% |
| Gross Profit Growth % | -1.88% | 0.61% | 0.17% | 6.27% | -1.87% | 19.96% | -0.21% | 19.66% | -23.34% | - |
| Operating Expenses | 27.49M | 29.36M | 31.1M | 33.38M | 36.26M | 36.01M | 43.94M | 46.3M | 21.91M | 59.12M |
| Other Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| EBITDA | 52.64M | 52.92M | 52.75M | 58.26M | 60.01M | 74.81M | 68.67M | 81.25M | 86.87M | 80.5M |
| EBITDA Margin % | 40.26% | 38.33% | 39.19% | 41.14% | 41.92% | 46.05% | 41.3% | 42.34% | 44.62% | 40.43% |
| EBITDA Growth % | -2.21% | 0.53% | -0.32% | 10.44% | 3.01% | 24.66% | -8.21% | 18.33% | 6.92% | -5.15% |
| Depreciation & Amortization | 14.85M | 15.78M | 17.23M | 20.84M | 26.8M | 27.48M | 29.44M | 28.04M | 32.49M | 24.58M |
| D&A / Revenue % | 11.35% | 11.43% | 12.8% | 14.72% | 18.72% | 16.91% | 17.71% | 14.61% | 16.69% | 12.35% |
| Operating Income (EBIT) | 37.8M▲ 0% | 37.14M▼ 1.7% | 35.52M▼ 4.4% | 37.42M▲ 5.3% | 33.21M▼ 11.2% | 47.33M▲ 42.5% | 39.22M▼ 17.1% | 53.21M▲ 35.7% | 54.38M▲ 2.2% | 55.92M▲ 0% |
| Operating Margin % | 28.9% | 26.9% | 26.39% | 26.43% | 23.2% | 29.14% | 23.59% | 27.73% | 27.93% | 28.09% |
| Operating Income Growth % | -6.21% | -1.74% | -4.37% | 5.35% | -11.25% | 42.52% | -17.13% | 35.66% | 2.19% | - |
| Interest Expense | 4.8M | 5.4M | 4.12M | 3.48M | 5.46M | 7.05M | 10.71M | 12.77M | 14.29M | 4M |
| Interest Coverage | 8.06x | 7.19x | 8.47x | 10.87x | 6.69x | 7.48x | 4.04x | 5.01x | 4.33x | - |
| Interest / Revenue % | 3.67% | 3.91% | 3.06% | 2.46% | 3.82% | 4.34% | 6.44% | 6.65% | 7.34% | 2.01% |
| Non-Operating Income | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -4M |
| Pretax Income | 33.91M▲ 0% | 33.38M▼ 1.6% | 30.75M▼ 7.9% | 34.31M▲ 11.6% | 31.05M▼ 9.5% | 45.67M▲ 47.1% | 32.56M▼ 28.7% | 51.26M▲ 57.4% | 47.64M▼ 7.0% | 48.89M▲ 0% |
| Pretax Margin % | 25.93% | 24.17% | 22.84% | 24.23% | 21.7% | 28.12% | 19.59% | 26.71% | 24.47% | 24.56% |
| Income Tax | 11.1M | 924K | -3.14M | -4.12M | -5.49M | 3.24M | 1.04M | 6.91M | 4.82M | 4.95M |
| Effective Tax Rate % | 32.73% | 2.77% | -10.21% | -12.01% | -17.67% | 7.09% | 3.2% | 13.47% | 10.12% | 10.11% |
| Net Income | 22.81M▲ 0% | 32.45M▲ 42.3% | 33.89M▲ 4.4% | 38.42M▲ 13.4% | 36.54M▼ 4.9% | 42.43M▲ 16.1% | 31.52M▼ 25.7% | 44.35M▲ 40.7% | 42.82M▼ 3.4% | 43.95M▲ 0% |
| Net Margin % | 17.44% | 23.5% | 25.18% | 27.14% | 25.53% | 26.12% | 18.96% | 23.11% | 21.99% | 22.07% |
| Net Income Growth % | 0.29% | 42.28% | 4.42% | 13.39% | -4.9% | 16.11% | -25.7% | 40.69% | -3.45% | 1.85% |
| EPS (Diluted) | 1.38▲ 0% | 1.96▲ 42.0% | 2.01▲ 2.6% | 2.18▲ 8.5% | 2.07▼ 5.0% | 2.39▲ 15.5% | 1.76▼ 26.4% | 2.47▲ 40.3% | 2.36▼ 4.5% | -▲ 0% |
| EPS Growth % | 0% | 42.03% | 2.55% | 8.46% | -5.05% | 15.46% | -26.36% | 40.34% | -4.45% | 3150% |
| EPS (Basic) | 1.39 | 1.98 | 2.02 | 2.19 | 2.08 | 2.40 | 1.77 | 2.48 | 2.36 | - |
| Diluted Shares Outstanding | 16.49M | 16.54M | 16.83M | 17.57M | 17.61M | 17.71M | 17.85M | 17.95M | 18.15M | 0 |
MSEX Balance Sheet
Middlesex Water Company (MSEX) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | 661.14M | 767.83M | 909.88M | 976.47M | 1.02B | 1.07B | 1.24B | 1.26B | 1.37B | 1.39B |
| Asset Growth % | 6.61% | 16.14% | 18.5% | 7.32% | 4.46% | 5.34% | 15.04% | 1.55% | 8.81% | 29.55% |
| PP&E (Net) | 557.24M | 618.49M | 711.67M | 801.81M | 869.87M | 924.35M | 1.01B | 1.06B | 1.97M | 1.83M |
| PP&E / Total Assets % | 84.28% | 80.55% | 78.22% | 82.11% | 85.28% | 86.03% | 81.96% | 84.29% | 0.14% | 0.13% |
| Total Current Assets | 29.25M | 30.82M | 29.13M | 34.12M | 34.35M | 37.31M | 108.54M | 42.97M | 41.77M | 46.83M |
| Cash & Equivalents | 4.94M | 3.71M | 2.23M | 4.49M | 3.53M | 3.83M | 2.39M | 4.23M | 2.8M | 2.04M |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Inventory | 4.12M | 5.41M | 5.45M | 5.11M | 5.36M | 6.18M | 6.97M | 6.72M | 7.55M | 0 |
| Other Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9.36M | 26.1M |
| Long-Term Investments | 0 | 1.96M | 0 | 0 | 0 | 0 | 0 | 0 | 1.68M | 5.03M |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 31.49M | 71.26M | 114.66M | 140.54M | 46.29M | 34.98M | 114.47M | 154.23M | 1.32B | 1.34B |
| Total Liabilities | 429.53M | 516.61M | 584M | 628.18M | 650.21M | 672.04M | 810.98M | 808.28M | 871.71M | 884.99M |
| Total Debt | 173.91M | 208.69M | 263.69M | 287.54M | 330.62M | 366.95M | 412.31M | 385.96M | 419.25M | 418.68M |
| Net Debt | 168.97M | 204.99M | 261.46M | 283.05M | 327.08M | 363.12M | 409.92M | 381.74M | 416.45M | 416.64M |
| Long-Term Debt | 139.04M | 152.85M | 230.78M | 273.24M | 306.52M | 290.28M | 358.15M | 352.82M | 380.71M | 418.68M |
| Short-Term Borrowings | 34.87M | 55.84M | 27.18M | 9.26M | 19.73M | 72.96M | 50.49M | 30.71M | 36.7M | 0 |
| Capital Lease Obligations | 0 | 0 | 5.73M | 5.04M | 4.37M | 3.71M | 3.66M | 2.43M | 1.84M | 6.51M |
| Total Current Liabilities | 64.54M | 94.36M | 64.98M | 56.85M | 56.62M | 117.86M | 103.83M | 82.89M | 93.8M | 119.66M |
| Accounts Payable | 13.93M | 19.32M | 23.31M | 30.44M | 21.13M | 24.85M | 27.62M | 28.05M | 31.33M | 29.5M |
| Accrued Expenses | 1.09M | 1.29M | 2.03M | 2.14M | 1.99M | 2.54M | 3.14M | 2.92M | 0 | 0 |
| Deferred Revenue | 951K | 1.04M | 1.21M | 1.25M | 1.33M | 1.36M | 1.39M | 1.48M | 497K | 467K |
| Other Current Liabilities | 2.28M | 2.64M | 3.62M | 3.62M | 3.83M | 3.99M | 3.82M | 7.76M | 9.28M | 89.69M |
| Deferred Taxes | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 439.57M |
| Other Liabilities | 161.37M | 199.55M | 204.2M | 208.34M | 189.67M | 161.03M | 235.88M | 246.27M | 258.02M | 235.51M |
| Total Equity | 231.61M▲ 0% | 251.22M▲ 8.5% | 325.88M▲ 29.7% | 348.29M▲ 6.9% | 369.81M▲ 6.2% | 402.41M▲ 8.8% | 425.07M▲ 5.6% | 446.9M▲ 5.1% | 494.03M▲ 10.5% | 501.05M▲ 0% |
| Equity Growth % | 4.86% | 8.47% | 29.72% | 6.88% | 6.18% | 8.82% | 5.63% | 5.13% | 10.55% | 36.71% |
| Shareholders Equity | 231.61M | 251.22M | 325.88M | 348.29M | 369.81M | 402.41M | 425.07M | 446.9M | 494.03M | 501.05M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Common Stock | 155.12M | 157.35M | 215.13M | 217.45M | 221.92M | 233.05M | 246.76M | 248.2M | 279.15M | 282.24M |
| Additional Paid-in Capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | 74.06M | 91.43M | 108.67M | 128.76M | 145.81M | 167.27M | 176.23M | 197.06M | 214.88M | 218.8M |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Return on Assets (ROA) | 3.56% | 4.54% | 4.04% | 4.07% | 3.66% | 4.05% | 2.73% | 3.56% | 3.27% | 3.25% |
| Return on Equity (ROE) | 10.08% | 13.44% | 11.74% | 11.4% | 10.18% | 10.99% | 7.62% | 10.17% | 9.1% | 9.07% |
| Debt / Equity | 0.75x | 0.83x | 0.81x | 0.83x | 0.89x | 0.91x | 0.97x | 0.86x | 0.85x | 0.85x |
| Debt / Assets | 26.3% | 27.18% | 28.98% | 29.45% | 32.41% | 34.15% | 33.36% | 30.75% | 30.7% | 30.21% |
| Net Debt / EBITDA | 3.21x | 3.87x | 4.96x | 4.86x | 5.45x | 4.85x | 5.97x | 4.70x | 4.79x | 4.79x |
| Book Value per Share | 14.05 | 15.19 | 19.36 | 19.82 | 21 | 22.72 | 23.82 | 24.9 | 27.21 | 26.97 |
MSEX Cash Flow Statement
Middlesex Water Company (MSEX) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 42.84M | 45.86M | 36.05M | 53.35M | 33.03M | 61.36M | 52.78M | 58.73M | 62.6M | 62.6M |
| Operating CF Growth % | -8.98% | 7.05% | -21.39% | 47.99% | -38.1% | 85.78% | -13.98% | 11.27% | 6.58% | -3.63% |
| Operating CF / Revenue % | 32.76% | 33.22% | 26.79% | 37.68% | 23.07% | 37.78% | 31.74% | 30.61% | 32.15% | 31.44% |
| Net Income | 22.81M | 32.45M | 33.89M | 38.42M | 36.54M | 42.43M | 31.52M | 44.35M | 42.82M | 43.95M |
| Depreciation & Amortization | 14.85M | 15.78M | 17.23M | 20.84M | 26.8M | 27.48M | 29.44M | 28.04M | 32.49M | 32.77M |
| Deferred Taxes | 7.94M | -8.72M | -11.72M | -13.49M | -10.99M | -5.33M | -5.6M | 0 | 0 | -873K |
| Other Non-Cash Items | -690K | -892K | -2.25M | -2.89M | -1.64M | -6.22M | -1.76M | -2.66M | -6.51M | -11.71M |
| Working Capital Changes | -2.91M | 6.16M | -1.74M | 9.38M | -19.02M | 1.38M | -3.04M | -12.54M | -7.45M | -4.72M |
| Capital Expenditures | -50.3M | -72.09M | -89.13M | -105.62M | -79.38M | -91.33M | -90.18M | -74.62M | -96.35M | -79.95M |
| CapEx / Revenue % | 38.46% | 52.21% | 66.22% | 74.59% | 55.45% | 56.23% | 54.24% | 38.89% | 49.49% | 40.16% |
| CapEx / D&A | 3.39x | 4.57x | 5.17x | 5.07x | 2.96x | 3.32x | 3.06x | 2.66x | 2.97x | 2.44x |
| CapEx Coverage (OCF/CapEx) | 0.85x | 0.64x | 0.40x | 0.51x | 0.42x | 0.67x | 0.59x | 0.79x | 0.65x | 0.78x |
| Cash from Investing | -51.32M | -72.09M | -89.13M | -105.62M | -79.38M | -88.21M | -90.18M | -74.62M | -100.96M | -102.69M |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 3.12M | 0 | 0 | -4.61M | -4.61M |
| Purchase of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Sale of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | -1.02M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -73.37M |
| Cash from Financing | 9.54M | 25.49M | 93.91M | 16.17M | 39.48M | 27.15M | 35.96M | 17.73M | 38.61M | 43.2M |
| Dividends Paid | -14.15M | -15.07M | -16.3M | -18.3M | -19.49M | -20.93M | -22.56M | -23.52M | -24.92M | -25.57M |
| Dividend Payout Ratio % | 61.39% | 46.01% | 47.7% | 47.31% | 53.01% | 49.05% | 71.19% | 52.78% | 58.2% | - |
| Debt Issuance (Net) | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | -1000K | 1000K | 1000K |
| Stock Issued | 1.23M | 1.15M | 56.78M | 1.23M | 3.84M | 10.34M | 12.12M | 974K | 29.79M | 32.82M |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 1.08M | 3.87M | 3.22M | 8.39M | 10.23M | 3K | 806K | 65.37M | 2.35M | 16.81M |
| Net Change in Cash | 1.06M▲ 0% | -736K▼ 169.6% | 40.84M▲ 5648.6% | -36.09M▼ 188.4% | -6.87M▲ 81.0% | 295K▲ 104.3% | -1.44M▼ 587.5% | 1.84M▲ 227.7% | 249K▼ 86.4% | 1.06M▲ 0% |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 3.88M | 6.4M | 5.66M | 46.5M | 10.4M | 3.53M | 3.83M | 2.39M | 4.23M | 4.47M |
| Cash at End | 4.94M | 5.66M | 46.5M | 10.4M | 3.53M | 3.83M | 2.39M | 4.23M | 4.47M | 3.71M |
| Free Cash Flow | -7.46M▲ 0% | -26.23M▼ 251.7% | -53.07M▼ 102.3% | -52.26M▲ 1.5% | -46.35M▲ 11.3% | -29.97M▲ 35.3% | -37.4M▼ 24.8% | -15.89M▲ 57.5% | -33.76M▼ 112.4% | -19.41M▲ 0% |
| FCF Growth % | -2353.29% | -251.7% | -102.33% | 1.52% | 11.32% | 35.33% | -24.76% | 57.5% | -112.42% | -153.62% |
| FCF Margin % | -5.7% | -19% | -39.43% | -36.91% | -32.38% | -18.45% | -22.49% | -8.28% | -17.34% | -9.75% |
| FCF / Net Income % | -32.7% | -80.83% | -156.61% | -136.02% | -126.84% | -70.65% | -118.63% | -35.83% | -78.83% | -44.17% |
MSEX Key Ratios
Middlesex Water Company (MSEX) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 10.08% | 13.44% | 11.74% | 11.4% | 10.18% | 10.99% | 7.62% | 10.17% | 9.1% | 9.07% |
| EBITDA Margin | 40.26% | 38.33% | 39.19% | 41.14% | 41.92% | 46.05% | 41.3% | 42.34% | 44.62% | 40.43% |
| Net Debt / EBITDA | 3.21x | 3.87x | 4.96x | 4.86x | 5.45x | 4.85x | 5.97x | 4.70x | 4.79x | 4.79x |
| Interest Coverage | 8.06x | 7.19x | 8.47x | 10.87x | 6.69x | 7.48x | 4.04x | 5.01x | 4.33x | - |
| CapEx / Revenue | 38.46% | 52.21% | 66.22% | 74.59% | 55.45% | 56.23% | 54.24% | 38.89% | 49.49% | 40.16% |
| Dividend Payout Ratio | 61.39% | 46.01% | 47.7% | 47.31% | 53.01% | 49.05% | 71.19% | 52.78% | 58.2% | 42.88% |
| Debt / Equity | 0.75x | 0.83x | 0.81x | 0.83x | 0.89x | 0.91x | 0.97x | 0.86x | 0.85x | 0.85x |
| EPS Growth | 0% | 42.03% | 2.55% | 8.46% | -5.05% | 15.46% | -26.36% | 40.34% | -4.45% | 3150% |
MSEX SEC Filings & Documents
Middlesex Water Company (MSEX) SEC filings — annual & quarterly reports (10-K, 10-Q)
MSEX Frequently Asked Questions
Middlesex Water Company (MSEX) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Middlesex Water Company (MSEX) reported $199.1M in revenue for fiscal year 2025. This represents a 424% increase from $38.0M in 1996.
Middlesex Water Company (MSEX) grew revenue by 1.5% over the past year. Growth has been modest.
Yes, Middlesex Water Company (MSEX) is profitable, generating $43.9M in net income for fiscal year 2025 (22.0% net margin).
Dividend & Returns
Yes, Middlesex Water Company (MSEX) pays a dividend with a yield of 2.70%. This makes it attractive for income-focused investors.
Middlesex Water Company (MSEX) has a return on equity (ROE) of 9.1%. This is below average, suggesting room for improvement.
Middlesex Water Company (MSEX) had negative free cash flow of $19.4M in fiscal year 2025, likely due to heavy capital investments.
Industry Metrics
Middlesex Water Company (MSEX) has a dividend payout ratio of 58%. This suggests the dividend is well-covered and sustainable.
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