MSEX
Middlesex Water Company
$55.01
+0.48
(+0.88%)
Mkt Cap
1.02B
Volume
163,861
52W Range
44.17-62.18
Sector
Utilities
Beta
0.77
EPS (TTM)
2.42
P/E Ratio
22.73
Revenue (TTM)
199.11M
Rev Growth (5Y)
+6.6%
EPS Growth (5Y)
+1.5%
AlphaVal · Fair Value
What we estimate one share is worth
$37.76
Overvalued
strong signal
45.7% above fair value
Modeled from cash flows & growth.
AlphaQuality · Grade
How strong & durable the business is
C-
Stable Earnings Power
44.8 / 100 composite
Steady, predictable earnings power — graded A–F vs. similar companies.
Company Description
Middlesex Water Company primarily delivers vital water and wastewater utility services, structured around two key business units. Its regulated operations are dedicated to the acquisition, treatment, and distribution of water to a broad spectrum of retail and wholesale clients, including residential, commercial, industrial, and fire protection users. This division also oversees regulated wastewater systems in both New Jersey and Delaware. Complementing this, the company's non-regulated segment furnishes contract-based services for the management and maintenance of municipal and private water and wastewater infrastructure within the same states. The firm, established in 1896, maintains its corporate headquarters in Iselin, New Jersey.
Track Record
Showing latest 4 periods • Swipe for more
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 194.69M | 191.88M | 166.27M | 162.43M | 143.14M | 141.59M | 134.60M | 138.08M | 130.78M | 132.91M | 126.03M | 117.14M |
| Net Income | 42.82M | 44.35M | 31.52M | 42.43M | 36.54M | 38.42M | 33.89M | 32.45M | 22.81M | 22.74M | 20.03M | 18.45M |
| EPS | 2.36 | 2.48 | 1.77 | 2.40 | 2.08 | 2.19 | 2.02 | 1.98 | 1.39 | 1.39 | 1.23 | 1.14 |
| Free Cash Flow | (33.76M) | (15.89M) | (37.40M) | (29.97M) | (46.35M) | (52.26M) | (53.07M) | (26.23M) | (7.46M) | (304,000) | 25.44M | 9.97M |
| FCF / Share | -1.86 | -0.89 | -2.11 | -1.70 | -2.65 | -2.99 | -3.18 | -1.60 | -0.46 | -0.02 | 1.57 | 0.62 |
| Operating CF | 62.60M | 58.73M | 52.78M | 61.36M | 33.03M | 53.35M | 36.05M | 45.86M | 42.84M | 47.07M | 51.21M | 32.57M |
| Total Assets | 1.37B | 1.26B | 1.24B | 1.07B | 1.02B | 976.47M | 909.88M | 767.83M | 661.14M | 620.16M | 584.72M | 575.77M |
| Total Debt | 419.25M | 385.96M | 412.31M | 366.95M | 330.62M | 287.54M | 263.69M | 208.69M | 173.91M | 152.70M | 144.99M | 160.95M |
| Cash & Equiv | 2.80M | 4.23M | 2.39M | 3.83M | 3.53M | 4.49M | 2.23M | 3.71M | 4.94M | 3.88M | 3.47M | 2.67M |
| Book Value | 494.03M | 446.90M | 425.07M | 402.41M | 369.81M | 348.29M | 325.88M | 251.22M | 231.61M | 220.87M | 209.13M | 199.73M |
| Return on Equity | 0.09 | 0.10 | 0.07 | 0.11 | 0.10 | 0.11 | 0.10 | 0.13 | 0.10 | 0.10 | 0.10 | 0.09 |
| Metric | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 48.71M | 46.98M | 54.09M | 49.32M | 44.30M | 47.11M | 55.10M | 49.15M | 40.52M | 38.60M | 46.72M | 42.80M |
| Net Income | 10.61M | 8.61M | 13.96M | 10.78M | 9.48M | 8.80M | 14.32M | 10.55M | 10.68M | 5.76M | 9.99M | 9.90M |
| EPS | 0.58 | 0.47 | 0.77 | 0.60 | 0.53 | -1.99 | 0.80 | 0.59 | 0.60 | 0.32 | 0.56 | 0.56 |
| Free Cash Flow | (8.91M) | (6.25M) | (6.86M) | 37.22M | (5.13M) | (3.75M) | 48.19M | (3.12M) | (7.74M) | (4.31M) | (11.74M) | (12.80M) |
| FCF / Share | -0.48 | -0.34 | -0.38 | 2.07 | -0.29 | -0.21 | 2.70 | -0.18 | -0.43 | -0.24 | -0.66 | -0.72 |
| Operating CF | 11.73M | 18.46M | 12.05M | 18.30M | 13.78M | 21.39M | 19.46M | 11.23M | 6.65M | 12.80M | 10.70M | 13.32M |
| Total Assets | 1.39B | 1.37B | 1.34B | 1.32B | 1.28B | 1.26B | 1.23B | 1.27B | 1.25B | 1.24B | 1.24B | 1.13B |
| Total Debt | 428.00M | 419.25M | 414.75M | 416.63M | 395.25M | 385.96M | 380.12M | 439.54M | 426.30M | 412.31M | 407.19M | 394.79M |
| Cash & Equiv | 2.04M | 2.80M | 3.38M | 2.56M | 2.66M | 4.23M | 6.34M | 8.03M | 2.85M | 2.39M | 2.97M | 4.38M |
| Book Value | 501.05M | 495.37M | 482.55M | 459.13M | 449.05M | 446.90M | 443.82M | 434.96M | 429.78M | 425.07M | 421.67M | 413.56M |
| Return on Equity | 0.02 | 0.02 | 0.03 | 0.02 | 0.02 | 0.02 | 0.03 | 0.02 | 0.02 | 0.01 | 0.02 | 0.02 |
MSEX News
AWK Concludes the Acquisition of Nexus Utility Assets for $315 Million
Middlesex Water: Not My Favorite Utility, Though Valuation Has Improved (Rating Upgrade)
Middlesex Water Company Reports First Quarter 2026 Earnings
Middlesex Water Company Declares Quarterly Cash Dividend
Middlesex Water Company Declares Quarterly Cash Dividend
Middlesex Water Company Appoints Tatyana Kaplan as Vice President and Chief Accounting Officer
Is Middlesex Water Stock a Buy After a Director Purchased 2,000 Shares?
Tidewater Utilities Announces Customer Bill Credit Using PFAS Litigation Proceeds
CenterBook Partners LP Reduces Holdings in Middlesex Water Company $MSEX
Middlesex Water Company Reports 2025 Earnings