Middlesex Water Company (MSEX) Earnings History
Annual and quarterly earnings data from 1994 to 2025
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MSEX EPS Growth (CAGR)
Compound annual growth rate of diluted earnings per share
CAGR (Compound Annual Growth Rate) shows the annualized growth rate of EPS over the specified period. A higher CAGR indicates stronger earnings momentum.
MSEX Profitability Analysis
Margin trends over time
| Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| 2025 | 39.2% | 27.9% | 22.0% |
| 2024 | 51.9% | 27.7% | 23.1% |
| 2023 | 50.0% | 23.6% | 19.0% |
| 2022 | 51.3% | 29.1% | 26.1% |
| 2021 | 48.5% | 23.2% | 25.5% |
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Middlesex Water Company (MSEX) Earnings Overview
As of May 8, 2026, Middlesex Water Company (MSEX) reported trailing twelve-month net income of $44M, reflecting -4.5% year-over-year growth. The company earned $2.36 per diluted share over the past four quarters, with a net profit margin of 22.0%.
Looking at the long-term picture, MSEX's 5-year EPS compound annual growth rate (CAGR) stands at +1.6%, reflecting modest earnings expansion. The company achieved its highest annual net income of $44M in fiscal 2024.
Middlesex Water Company maintains industry-leading profitability with a gross margin of 39.2%, operating margin of 27.9%, and net margin of 22.0%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including AWR ($134M net income, 19.8% margin), YORW ($21M net income, 25.9% margin), ARTNA ($23M net income, 20.2% margin), MSEX has outperformed on profitability metrics. Compare MSEX vs AWR →
MSEX Earnings vs Peers
Earnings metrics vs comparable public companies
MSEX Historical Earnings Data (1994–2025)
32 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $43M | -3.4% | $54M | $2.36 | 22.0% | 27.9% |
| 2024 | $44M | +40.7% | $53M | $2.47 | 23.1% | 27.7% |
| 2023 | $32M | -25.7% | $39M | $1.76 | 19.0% | 23.6% |
| 2022 | $42M | +16.1% | $47M | $2.39 | 26.1% | 29.1% |
| 2021 | $37M | -4.9% | $33M | $2.07 | 25.5% | 23.2% |
| 2020 | $38M | +13.4% | $37M | $2.18 | 27.1% | 26.4% |
| 2019 | $34M | +4.4% | $36M | $2.01 | 25.2% | 26.4% |
| 2018 | $32M | +42.3% | $37M | $1.96 | 23.5% | 26.9% |
| 2017 | $23M | +0.3% | $38M | $1.38 | 17.4% | 28.9% |
| 2016 | $23M | +13.6% | $40M | $1.38 | 17.1% | 30.3% |
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Start ComparisonMSEX — Frequently Asked Questions
Quick answers to the most common questions about buying MSEX stock.
Is MSEX growing earnings?
MSEX EPS of $2.36 reflects slowing growth at -4.5%, below the 5-year CAGR of +1.6%. TTM net income is $44M. Expansion rate has moderated.
What are MSEX's profit margins?
Middlesex Water Company net margin is +22.0%, with operating margin at +27.9%. Above-average margins indicate pricing power.
How consistent are MSEX's earnings?
MSEX earnings data spans 1994-2025. The current earnings trend is -4.5% YoY. Historical data enables comparison across business cycles.