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Middlesex Water Company

MSEX Utilities Utilities Regulated Water

Middlesex Water Company’s revenue for fiscal 2025 (year ended December 2025) was $194.7 million, up 1.47% from fiscal 2024.

Revenue: +11.3%
EPS: +23.1%
Free cash flow: +16.0%
Total debt: +11.7%

Quarter to September 2026, against a year earlier

59.17 0.33 −0.55%

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Market cap: $1.1B
P/E: 21.5×
Fwd P/E: 21.2×
Dividend yield: 2.42%
F-score: 3/9
Altman Z: 1.08
Beneish M: −2.52
Dividend safety: 49/100

Overview

	Sep '26	Jun '26	Mar '26	Dec '25	Older periods
P/E ratio Full definition →	19.14	21.68	21.69	21.36	+8 more quarters Free account
P/S ratio Full definition →	4.74	5.10	4.85	4.69
P/FCF ratio Full definition →	0.00	0.00	0.00	0.00
P/Operating CF Full definition →	44.01	64.06	82.28	49.42
P/B ratio Full definition →	1.84	2.02	1.93	1.85
Price to Tangible BV Full definition →	1.84	2.02	1.93	1.85
EV/Sales Full definition →	6.62	7.04	6.74	6.66
EV/EBITDA Full definition →	14.61	15.72	15.14	14.92
EV/Operating CF Full definition →	20.22	24.76	22.17	20.71
EV/FCF Full definition →	(35.92)	(35.81)	(35.76)	(38.40)
Quick Ratio Full definition →	0.23	0.22	0.17	0.23
Current Ratio Full definition →	0.51	0.50	0.39	0.45
Net Debt/EBITDA Full definition →	13.27	15.96	17.72	19.48
Debt/Assets Full definition →	27.42%	28.33%	27.37%	28.32%
Debt/Equity Full definition →	0.73	0.77	0.76	0.78
Asset Turnover Full definition →	0.15	0.15	0.15	0.15
Operating CF/Net income Full definition →	1.27	1.11	1.11	2.15
Capex/Depreciation Full definition →	(3.94)	(4.74)	(2.52)	(2.90)
Interest Coverage Full definition →	5.30	4.54	4.08	2.98
Research and Development Expense of Revenue Full definition →	0.00%	0.00%	0.00%	0.00%
Selling, General and Administrative Expense of Revenue Full definition →	51.61%	55.66%	58.66%	61.37%
Intangible Assets out of Total Assets Full definition →	0.00	0.00	0.00	0.00
Share Based Compensation of Revenue Full definition →	0.58%	1.36%	0.82%	0.25%
Graham Net Nets Full definition →	(0.85)	(0.81)	(0.87)	(0.91)
Graham Number Full definition →	42.36	40.29	38.20	38.07
Earnings Yield Full definition →	5.23%	4.61%	4.61%	4.68%
Free Cash Flow Yield Full definition →	(3.88%)	(3.86%)	(3.89%)	(3.70%)
Revenue per Share Full definition →	3.17	3.01	2.63	2.60
Operating CF per Share Full definition →	1.20	0.88	0.63	1.02
Capex per Share Full definition →	(1.60)	(1.75)	(1.11)	(1.37)
Free Cash Flow per Share Full definition →	(0.40)	(0.88)	(0.48)	(0.35)
Cash per Share Full definition →	0.09	0.10	0.11	0.15
Shareholders Equity per Share Full definition →	28.86	27.93	27.09	27.37
Interest Debt per Share Full definition →	0.00	0.00	0.00	0.00
Book value per Share Full definition →	28.86	27.93	27.09	27.37
Free Cash Flow Full definition →	(7.53)	(16.43)	(8.91)	(6.25)
Working Capital Full definition →	(53.69)	(52.67)	(72.83)	(52.03)
Capital Expenditures Full definition →	(30.41)	(32.83)	(20.64)	(24.71)
Net Current Asset Value Full definition →	(853.62)	(849.02)	(836.82)	(828.60)
EV/EBIT Full definition →	21.68	24.10	24.01	23.84
Capex to Sales Full definition →	0.51	0.58	0.42	0.53
Price to Operating Income Full definition →	15.54	17.44	17.26	16.78
Other line items
Average Receivables Full definition →	23.15	20.92	19.41	19.03
Average Payables Full definition →	31.15	30.90	30.50	29.69
Average Inventory Full definition →	8.32	7.95	7.56	7.13
Average Assets Full definition →	1,399.80	1,369.69	1,332.50	1,310.46
Average Common Equity Full definition →	515.08	489.44	475.05	469.65

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Columns are period end dates · fundamentals updated 2 Nov 2026

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