51.7 USD
+0.72 (+1.41%)
51.7 USD
0 (0%)
Overall MSEX gets a fundamental rating of 3 out of 10. We evaluated MSEX against 14 industry peers in the Water Utilities industry. While MSEX is still in line with the averages on profitability rating, there are concerns on its financial health. MSEX is quite expensive at the moment. It does show a decent growth rate.
1. Profitability
1.1 Basic Checks
MSEX had positive earnings in the past year.
MSEX had a positive operating cash flow in the past year.
In the past 5 years MSEX has always been profitable.
Each year in the past 5 years MSEX had a positive operating cash flow.
1.2 Ratios
The Return On Assets of MSEX (3.20%) is comparable to the rest of the industry.
The Return On Equity of MSEX (8.87%) is comparable to the rest of the industry.
MSEX has a Return On Invested Capital (3.32%) which is comparable to the rest of the industry.
MSEX had an Average Return On Invested Capital over the past 3 years of 3.15%. This is in line with the industry average of 4.89%.
The last Return On Invested Capital (3.32%) for MSEX is above the 3 year average (3.15%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.2% | ||
| ROE | 8.87% | ||
| ROIC | 3.32% |
ROA(3y)3.33%
ROA(5y)3.5%
ROE(3y)9.27%
ROE(5y)9.73%
ROIC(3y)3.15%
ROIC(5y)3.07%
1.3 Margins
The Profit Margin of MSEX (22.04%) is better than 71.43% of its industry peers.
In the last couple of years the Profit Margin of MSEX has declined.
MSEX has a Operating Margin (27.56%) which is comparable to the rest of the industry.
MSEX's Operating Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 27.56% | ||
| PM (TTM) | 22.04% | ||
| GM | N/A |
OM growth 3Y6.13%
OM growth 5Y1.01%
PM growth 3Y-3.22%
PM growth 5Y-1.69%
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so MSEX is destroying value.
Compared to 1 year ago, MSEX has more shares outstanding
Compared to 5 years ago, MSEX has more shares outstanding
The debt/assets ratio for MSEX has been reduced compared to a year ago.
2.2 Solvency
MSEX has an Altman-Z score of 1.09. This is a bad value and indicates that MSEX is not financially healthy and even has some risk of bankruptcy.
MSEX has a Altman-Z score of 1.09. This is comparable to the rest of the industry: MSEX outperforms 57.14% of its industry peers.
A Debt/Equity ratio of 0.84 indicates that MSEX is somewhat dependend on debt financing.
MSEX's Debt to Equity ratio of 0.84 is fine compared to the rest of the industry. MSEX outperforms 71.43% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.84 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 1.09 |
ROIC/WACC0.43
WACC7.8%
2.3 Liquidity
MSEX has a Current Ratio of 0.42. This is a bad value and indicates that MSEX is not financially healthy enough and could expect problems in meeting its short term obligations.
MSEX has a worse Current ratio (0.42) than 92.86% of its industry peers.
MSEX has a Quick Ratio of 0.42. This is a bad value and indicates that MSEX is not financially healthy enough and could expect problems in meeting its short term obligations.
The Quick ratio of MSEX (0.36) is worse than 92.86% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.42 | ||
| Quick Ratio | 0.36 |
3. Growth
3.1 Past
MSEX shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 3.91%.
Measured over the past 5 years, MSEX shows a small growth in Earnings Per Share. The EPS has been growing by 4.31% on average per year.
MSEX shows a small growth in Revenue. In the last year, the Revenue has grown by 6.24%.
Measured over the past years, MSEX shows a small growth in Revenue. The Revenue has been growing by 7.35% on average per year.
EPS 1Y (TTM)3.91%
EPS 3Y6.07%
EPS 5Y4.31%
EPS Q2Q%-3.75%
Revenue 1Y (TTM)6.24%
Revenue growth 3Y10.27%
Revenue growth 5Y7.35%
Sales Q2Q%-1.83%
3.2 Future
Based on estimates for the next years, MSEX will show a small growth in Earnings Per Share. The EPS will grow by 6.52% on average per year.
MSEX is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 7.79% yearly.
EPS Next Y-4.06%
EPS Next 2Y3.87%
EPS Next 3Y6.52%
EPS Next 5YN/A
Revenue Next Year5.06%
Revenue Next 2Y6.7%
Revenue Next 3Y7.79%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 21.63, the valuation of MSEX can be described as rather expensive.
The rest of the industry has a similar Price/Earnings ratio as MSEX.
When comparing the Price/Earnings ratio of MSEX to the average of the S&P500 Index (27.19), we can say MSEX is valued slightly cheaper.
A Price/Forward Earnings ratio of 19.40 indicates a rather expensive valuation of MSEX.
Compared to the rest of the industry, the Price/Forward Earnings ratio of MSEX indicates a somewhat cheap valuation: MSEX is cheaper than 64.29% of the companies listed in the same industry.
When comparing the Price/Forward Earnings ratio of MSEX to the average of the S&P500 Index (23.88), we can say MSEX is valued inline with the index average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.63 | ||
| Fwd PE | 19.4 |
4.2 Price Multiples
MSEX's Enterprise Value to EBITDA is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 15.08 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)5.02
EPS Next 2Y3.87%
EPS Next 3Y6.52%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 2.86%, MSEX has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 2.99, MSEX has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 1.90, MSEX pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.86% |
5.2 History
The dividend of MSEX is nicely growing with an annual growth rate of 6.43%!
MSEX has paid a dividend for at least 10 years, which is a reliable track record.
MSEX has decreased its dividend in the last 3 years.
Dividend Growth(5Y)6.43%
Div Incr Years2
Div Non Decr Years2
5.3 Sustainability
MSEX pays out 56.99% of its income as dividend. This is a bit on the high side, but may be sustainable.
MSEX's earnings are growing around the same pace than its dividend. As long as the earnings growth is kept the dividend growth is sustainable.
DP56.99%
EPS Next 2Y3.87%
EPS Next 3Y6.52%
51.7
+0.72 (+1.41%)
Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryWater Utilities
Earnings (Last)
Earnings (Next)
Inst Owners82.74%
Inst Owner Change0%
Ins Owners0.94%
Ins Owner Change-0.34%
Market Cap948.18M
Revenue(TTM)194.82M
Net Income(TTM)42.94M
Analysts82.22
Price Target58.91 (13.95%)
Short Float %4.13%
Short Ratio4.81
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.86% |
Yearly Dividend1.32
Dividend Growth(5Y)6.43%
DP56.99%
Div Incr Years2
Div Non Decr Years2
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-11.52%
Min EPS beat(2)-12.2%
Max EPS beat(2)-10.84%
EPS beat(4)1
Avg EPS beat(4)-0.07%
Min EPS beat(4)-12.2%
Max EPS beat(4)31.61%
EPS beat(8)3
Avg EPS beat(8)-1.23%
EPS beat(12)3
Avg EPS beat(12)-9.56%
EPS beat(16)4
Avg EPS beat(16)-9.42%
Revenue beat(2)0
Avg Revenue beat(2)-5.63%
Min Revenue beat(2)-5.82%
Max Revenue beat(2)-5.44%
Revenue beat(4)1
Avg Revenue beat(4)-1.17%
Min Revenue beat(4)-5.82%
Max Revenue beat(4)7.4%
Revenue beat(8)2
Avg Revenue beat(8)-3.82%
Revenue beat(12)2
Avg Revenue beat(12)-5.5%
Revenue beat(16)2
Avg Revenue beat(16)-5.02%
PT rev (1m)-3.21%
PT rev (3m)-9.77%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0.74%
EPS NY rev (1m)-0.29%
EPS NY rev (3m)-5.04%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-1.06%
Revenue NY rev (1m)0.11%
Revenue NY rev (3m)-1.36%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.63 | ||
| Fwd PE | 19.4 | ||
| P/S | 4.87 | ||
| P/FCF | N/A | ||
| P/OCF | 14.47 | ||
| P/B | 1.96 | ||
| P/tB | 1.96 | ||
| EV/EBITDA | 15.08 |
EPS(TTM)2.39
EY4.62%
EPS(NY)2.66
Fwd EY5.15%
FCF(TTM)-1.96
FCFYN/A
OCF(TTM)3.57
OCFY6.91%
SpS10.62
BVpS26.38
TBVpS26.38
PEG (NY)N/A
PEG (5Y)5.02
Graham Number37.67
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.2% | ||
| ROE | 8.87% | ||
| ROCE | 4.39% | ||
| ROIC | 3.32% | ||
| ROICexc | 3.33% | ||
| ROICexgc | 3.33% | ||
| OM | 27.56% | ||
| PM (TTM) | 22.04% | ||
| GM | N/A | ||
| FCFM | N/A |
ROA(3y)3.33%
ROA(5y)3.5%
ROE(3y)9.27%
ROE(5y)9.73%
ROIC(3y)3.15%
ROIC(5y)3.07%
ROICexc(3y)3.16%
ROICexc(5y)3.08%
ROICexgc(3y)3.16%
ROICexgc(5y)3.08%
ROCE(3y)4.13%
ROCE(5y)3.98%
ROICexgc growth 3Y9.39%
ROICexgc growth 5Y1.66%
ROICexc growth 3Y9.39%
ROICexc growth 5Y1.66%
OM growth 3Y6.13%
OM growth 5Y1.01%
PM growth 3Y-3.22%
PM growth 5Y-1.69%
GM growth 3YN/A
GM growth 5YN/A
F-Score4
Asset Turnover0.15
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.84 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 4.74 | ||
| Cap/Depr | 318.89% | ||
| Cap/Sales | 52.04% | ||
| Interest Coverage | 3.87 | ||
| Cash Conversion | 76.65% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.42 | ||
| Quick Ratio | 0.36 | ||
| Altman-Z | 1.09 |
F-Score4
WACC7.8%
ROIC/WACC0.43
Cap/Depr(3y)301.61%
Cap/Depr(5y)341.57%
Cap/Sales(3y)49.79%
Cap/Sales(5y)55.89%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)3.91%
EPS 3Y6.07%
EPS 5Y4.31%
EPS Q2Q%-3.75%
EPS Next Y-4.06%
EPS Next 2Y3.87%
EPS Next 3Y6.52%
EPS Next 5YN/A
Revenue 1Y (TTM)6.24%
Revenue growth 3Y10.27%
Revenue growth 5Y7.35%
Sales Q2Q%-1.83%
Revenue Next Year5.06%
Revenue Next 2Y6.7%
Revenue Next 3Y7.79%
Revenue Next 5YN/A
EBIT growth 1Y5.45%
EBIT growth 3Y17.03%
EBIT growth 5Y8.43%
EBIT Next Year52.31%
EBIT Next 3Y26.51%
EBIT Next 5YN/A
FCF growth 1Y13.29%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y14.74%
OCF growth 3Y21.15%
OCF growth 5Y10.25%
MIDDLESEX WATER CO / MSEX FAQ
Can you provide the ChartMill fundamental rating for MIDDLESEX WATER CO?
ChartMill assigns a fundamental rating of 3 / 10 to MSEX.
Can you provide the valuation status for MIDDLESEX WATER CO?
ChartMill assigns a valuation rating of 2 / 10 to MIDDLESEX WATER CO (MSEX). This can be considered as Overvalued.
How profitable is MIDDLESEX WATER CO (MSEX) stock?
MIDDLESEX WATER CO (MSEX) has a profitability rating of 5 / 10.
Can you provide the financial health for MSEX stock?
The financial health rating of MIDDLESEX WATER CO (MSEX) is 1 / 10.
What is the earnings growth outlook for MIDDLESEX WATER CO?
The Earnings per Share (EPS) of MIDDLESEX WATER CO (MSEX) is expected to decline by -4.06% in the next year.