MIDDLESEX WATER CO MSEX

Latest FY: 2025 Utilities Utilities - Regulated Water
Market Price $57.19
Market Cap $1.07B
P/E Ratio 24.23
Quick Peer Compare (Utilities):
Revenue (FY 2025) ↑1.5% YoY
$194.69M
3-Yr CAGR: 6.2%
Net Income ↓-3.4% YoY
$42.82M
Net Margin: 22.0%
Free Cash Flow ↓-112.4% YoY
-$33.76M
FCF Yield: -3.17%
EPS (Diluted) ↓-4.5% YoY
$2.36
Basic: $2.36
Return on Equity Efficiency
8.7%
ROA: 3.1%

📊 Multi-Year Historical Performance & Trends

Financial Performance History Revenue, Net Income & Free Cash Flow
Margins Trend (%) Gross, Operating & Net Margins
Balance Sheet Strength Cash, Debt & Equity
Cash Flow Generation Operating Cash Flow vs CapEx vs FCF

📈 Year-over-Year (YoY) Growth History (MSEX)

All monetary values in millions ($M)
Fiscal Year Revenue Revenue YoY Gross Profit Net Income Net Inc YoY Diluted EPS EPS YoY Div / Sh Div Yield Op. Cash Flow Free Cash Flow FCF YoY
FY 2016 $132.7M $127.5M $22.7M $1.38 $0.81 1.88% $47.1M
FY 2017 $130.6M -1.6% $125.1M $22.8M +0.3% $1.38 0.0% $0.86 2.15% $42.8M
FY 2018 $137.9M +5.6% $131.2M $32.5M +42.3% $1.96 +42.0% $0.91 1.71% $45.9M
FY 2019 $134.5M -2.5% $127.2M $33.9M +4.4% $2.01 +2.6% $0.97 1.52% $36.1M
FY 2020 $141.6M +5.3% $134.1M $38.4M +13.4% $2.18 +8.5% $1.04 1.44% $53.4M
FY 2021 $143.1M +1.1% $135.0M $36.5M -4.9% $2.07 -5.0% $1.11 0.92% $33.0M
FY 2022 $162.4M +13.5% $153.1M $42.4M +16.1% $2.39 +15.5% $1.18 1.50% $61.4M $-30.0M
FY 2023 $166.3M +2.4% $153.1M $31.5M -25.7% $1.76 -26.4% $1.26 1.92% $52.8M $-37.4M -24.8%
FY 2024 $191.9M +15.4% $177.9M $44.4M +40.7% $2.47 +40.3% $1.31 2.50% $58.7M $-15.9M +57.5%
FY 2025 $194.7M +1.5% $180.4M $42.8M -3.4% $2.36 -4.5% $1.38 2.73% $62.6M $-33.8M -112.4%
$

Valuation

Market Price $57.19
Market Cap $1.07B
Enterprise Value $1.45B
P/E Ratio 24.23
P/B Ratio 2.16
FCF Yield -3.17%
Dividend Yield 2.41%
Shares Outstanding 18,624,300
%

Profitability & Margins

Gross Margin 92.66%
Operating Margin 27.93%
Net Margin 21.99%
Return on Equity (ROE) 8.67%
Return on Assets (ROA) 3.14%
Asset Turnover 0.14x
Revenue 3-Yr CAGR 6.22%
🛡️

Financial Health & Liquidity

Current Ratio 0.45
Cash Ratio 0.03
Debt / Equity 0.783
Debt / Assets 0.283
Cash & Equivalents $2.80M
Total Debt $386.72M
Book Value / Share $26.53
💧

Cash Flow Efficiency

Operating Cash Flow $62.60M
Capital Expenditures (CapEx) $96.35M
Free Cash Flow -$33.76M
OCF / Revenue 32.15%
FCF / Revenue -17.34%
FCF 3-Yr CAGR N/A
🏷️

Per Share Metrics

EPS (Diluted) $2.36
EPS (Basic) $2.36
Dividends / Share $1.38
Book Value / Share $26.53
EPS YoY Growth -4.45%
🏛️

Balance Sheet (FY 2025)

Total Assets $1.37B
Total Liabilities $871.71M
Stockholders' Equity $494.03M
Current Assets $41.77M
Current Liabilities $93.80M