MIDDLESEX WATER CO MSEX

Utilities SIC 4941 - Water Supply NAICS Utilities › Water, Sewage and Other Systems › Water Supply and Irrigation Systems derived Nasdaq

Last close 56.03 2026-10-23
Market cap $1.06B 2026-06-30 share count
52-week range 44.17 - 62.17

Valuation FY2025 figures against the last close

P/S5.4x
P/E23.7x
P/FCF16.9x
EV/EBITDA17.7x
Dividend yield2.4%
Diluted EPS2.36

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $194.7M$191.9M$166.3M$162.3M$143.0M$141.4M$134.5M$137.9M$130.6M$132.7M
Total operating expenses $140.3M$138.7M$127.1M$120.3M$109.9M$104.2M$99.1M$100.9M$93.0M$92.6M
Operating income $54.4M$53.2M$39.2M$47.3M$33.2M$37.4M$35.5M$37.1M$37.8M$40.3M
Interest expense $14.3M$14.0M$13.1M$9.4M$8.1M$7.5M$7.3M$6.8M$5.5M$5.3M
Pre-tax income $47.6M$51.3M$32.6M$45.7M$31.1M$34.3M$30.7M$33.4M$33.9M$34.5M
Income tax $4.8M$6.9M$1.0M$3.2M$5.5M$4.1M$3.1M$924.0K$11.1M$11.7M
Net income $43$44$32$42$36$38.4M$33.9M$32.5M$22.8M$22.7M
EPS, basic 2.362.481.772.402.082.192.021.971.391.39
EPS, diluted 2.362.471.762.392.072.182.011.961.381.38
Shares, diluted (wtd. avg.) 18.1M17.9M17.8M17.7M17,60717,57416.8M16,54016.5M16.4M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $2.8M$4.2M$2.4M$3.8M$3.5M$10.4M$46.5M$5.7M$6.4M$4.3M
Short-term investments ———————$200.0K$200.0K$200.0K
Receivables $19.2M$18.8M$18.2M$16.0M$15.3M$14.6M$11.9M$11.8M$10.8M$10.1M
Total current assets $41.8M$43.0M$108.5M$37.3M$34.4M$34.1M$29.1M$30.8M$29.2M$26.7M
Total assets $1.37B$1.26B$1.24B$1.07B$1.02B$976.5M$909.9M$767.8M$661.1M$620.2M
Accounts payable $31.3M$28.1M$27.6M$24.8M$21.1M$30.4M$23.3M$19.3M$13.9M$12.3M
Short-term debt $7.8M$7.7M$364.7M$17.5M$6.7M$7.3M$7.2M$7.3M$6.9M$6.2M
Total current liabilities $93.8M$82.9M$103.8M$117.9M$56.6M$56.8M$65.0M$94.4M$64.5M$47.1M
Long-term debt $378.9M$352.8M$358.2M$290.3M$306.5M$273.2M$230.8M$152.9M$139.0M$134.5M
Retained earnings $214.9M$197.1M$176.2M$167.3M$145.8M$128.8M$108.7M$91.4M$74.1M$65.4M
Total equity $494.0M$445.3M$423.0M$400.3M$367.7M$346.2M————

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $62.6M$58.7M$52.8M$61.4M$33.0M$53.4M$36.1M$45.9M$42.8M$47.1M
Depreciation and amortisation $27.1M$24.4M$25.2M$23.0M$26.8M$20.8M$17.2M$15.8M$14.8M$13.5M
Stock-based compensation $1.2M$1.5M$2.2M$1.6M$1.3M$1.1M$637.0K$1.1M$840.0K$829.0K
Capital expenditure —$74.6M$90.2M$91.3M$79.4M$105.6M————
Investing cash flow -$101.0M-$74.6M-$90.2M-$88.2M-$79.4M-$105.6M-$89.1M-$72.1M-$50.3M-$47.4M
Financing cash flow $38.6M$17.7M$36.0M$27.1M$39.5M$16.2M$93.9M$25.5M$9.5M$714.0K
Dividends paid $24.9M$23.4M$22.4M$20.8M$19.4M$18.2M$16.2M$14.9M$14.0M$13.1M
Buybacks —$1.5M$619.0K———————

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001308179-26-000211.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 50M 100M 150M 200M Revenue, FY2016: 132.7M Net income, FY2016: 22.7M Revenue, FY2017: 130.6M Net income, FY2017: 22.8M Revenue, FY2018: 137.9M Net income, FY2018: 32.5M Revenue, FY2019: 134.5M Net income, FY2019: 33.9M Revenue, FY2020: 141.4M Net income, FY2020: 38.4M Revenue, FY2021: 143M Net income, FY2021: 36.5 Revenue, FY2022: 162.3M Net income, FY2022: 42.4 Revenue, FY2023: 166.3M Net income, FY2023: 31.5 Revenue, FY2024: 191.9M Net income, FY2024: 44.4 Revenue, FY2025: 194.7M Net income, FY2025: 42.8 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $132.7M $130.6M $137.9M $134.5M $141.4M $143.0M $162.3M $166.3M $191.9M $194.7M
Gross profit — — — — — — — — — —
Net income $22.7M $22.8M $32.5M $33.9M $38.4M $36 $42 $32 $44 $43

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Shareholder vote Item 5.07
  • Material agreement signed Item 1.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

Others in SIC 4941

TickerCompanyMarket capP/ERevenue growth
AWK American Water Works Company, Inc. $28.37B 25.1x 10.1%
WTRG Essential Utilities, Inc. $12.23B 7.6x 10.1%
AWR AMERICAN STATES WATER CO $3.39B 25.4x 8.2%
CWT CALIFORNIA WATER SERVICE GROUP $2.97B 22.3x 6.4%
HTO H2O AMERICA $2.46B 20.2x 9.4%
YORW YORK WATER CO $516.4M 22.9x 3.4%
CWCO Consolidated Water Co. Ltd. $445.0M 24.4x 11.0%
CDZI CADIZ INC $367.1M — 69.8%