51.7 USD
-1.82 (-3.4%)
51.7 USD
0 (0%)
Overall MSEX gets a fundamental rating of 3 out of 10. We evaluated MSEX against 15 industry peers in the Water Utilities industry. There are concerns on the financial health of MSEX while its profitability can be described as average. MSEX is valied quite expensively at the moment, while it does show a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year MSEX was profitable.
In the past year MSEX had a positive cash flow from operations.
MSEX had positive earnings in each of the past 5 years.
In the past 5 years MSEX always reported a positive cash flow from operatings.
1.2 Ratios
The Return On Assets of MSEX (3.20%) is comparable to the rest of the industry.
With a Return On Equity value of 8.87%, MSEX perfoms like the industry average, outperforming 60.00% of the companies in the same industry.
MSEX has a Return On Invested Capital (3.32%) which is comparable to the rest of the industry.
The Average Return On Invested Capital over the past 3 years for MSEX is in line with the industry average of 4.61%.
The 3 year average ROIC (3.15%) for MSEX is below the current ROIC(3.32%), indicating increased profibility in the last year.
| 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
Looking at the Profit Margin, with a value of 22.04%, MSEX is in the better half of the industry, outperforming 73.33% of the companies in the same industry.
MSEX's Profit Margin has declined in the last couple of years.
Looking at the Operating Margin, with a value of 27.56%, MSEX is in line with its industry, outperforming 53.33% of the companies in the same 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
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), MSEX is destroying value.
MSEX has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, MSEX has more shares outstanding
Compared to 1 year ago, MSEX has an improved debt to assets ratio.
2.2 Solvency
MSEX has an Altman-Z score of 1.12. 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 (1.12) which is in line with its industry peers.
MSEX has a Debt/Equity ratio of 0.84. This is a neutral value indicating 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 73.33% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.84 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 1.12 |
ROIC/WACC0.45
WACC7.32%
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.
With a Current ratio value of 0.42, MSEX is not doing good in the industry: 93.33% of the companies in the same industry are doing better.
A Quick Ratio of 0.36 indicates that MSEX may have some problems paying its short term obligations.
The Quick ratio of MSEX (0.36) is worse than 93.33% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.42 | ||
| Quick Ratio | 0.36 |
3. Growth
3.1 Past
The Earnings Per Share has been growing slightly by 3.91% over the past year.
The Earnings Per Share has been growing slightly by 4.31% on average over the past years.
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
MSEX is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 6.80% yearly.
Based on estimates for the next years, MSEX will show a small growth in Revenue. The Revenue will grow by 7.76% on average per year.
EPS Next Y-3.78%
EPS Next 2Y4.35%
EPS Next 3Y6.8%
EPS Next 5YN/A
Revenue Next Year4.95%
Revenue Next 2Y6.71%
Revenue Next 3Y7.76%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 21.63, which indicates a rather expensive current valuation of MSEX.
MSEX's Price/Earnings is on the same level as the industry average.
When comparing the Price/Earnings ratio of MSEX to the average of the S&P500 Index (26.38), we can say MSEX is valued inline with the index average.
With a Price/Forward Earnings ratio of 19.22, MSEX is valued on the expensive side.
Based on the Price/Forward Earnings ratio, MSEX is valued a bit cheaper than 66.67% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 23.83. MSEX is around the same levels.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.63 | ||
| Fwd PE | 19.22 |
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 | 15.63 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)5.02
EPS Next 2Y4.35%
EPS Next 3Y6.8%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 2.76%, MSEX has a reasonable but not impressive dividend return.
MSEX's Dividend Yield is comparable with the industry average which is at 2.76.
MSEX's Dividend Yield is a higher than the S&P500 average which is at 1.87.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.76% |
5.2 History
The dividend of MSEX is nicely growing with an annual growth rate of 6.43%!
MSEX has been paying a dividend for at least 10 years, so it has a reliable track record.
The dividend of MSEX decreased in the last 3 years.
Dividend Growth(5Y)6.43%
Div Incr Years2
Div Non Decr Years2
5.3 Sustainability
56.99% of the earnings are spent on dividend by MSEX. 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 2Y4.35%
EPS Next 3Y6.8%
51.7
-1.82 (-3.4%)
Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryWater Utilities
Earnings (Last)
Earnings (Next)
Inst Owners82.7%
Inst Owner Change5.47%
Ins Owners0.94%
Ins Owner Change-0.34%
Market Cap948.18M
Revenue(TTM)194.82M
Net Income(TTM)42.94M
Analysts82.22
Price Target60.86 (17.72%)
Short Float %3.47%
Short Ratio4.11
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.76% |
Yearly Dividend1.32
Dividend Growth(5Y)6.43%
DP56.99%
Div Incr Years2
Div Non Decr Years2
Ex-Date
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)-6.77%
PT rev (3m)-6.77%
EPS NQ rev (1m)7.03%
EPS NQ rev (3m)0.74%
EPS NY rev (1m)-3.85%
EPS NY rev (3m)-4.77%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-1.06%
Revenue NY rev (1m)-0.34%
Revenue NY rev (3m)-1.46%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.63 | ||
| Fwd PE | 19.22 | ||
| P/S | 4.87 | ||
| P/FCF | N/A | ||
| P/OCF | 14.47 | ||
| P/B | 1.96 | ||
| P/tB | 1.96 | ||
| EV/EBITDA | 15.63 |
EPS(TTM)2.39
EY4.62%
EPS(NY)2.69
Fwd EY5.2%
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 | 1.12 |
F-Score4
WACC7.32%
ROIC/WACC0.45
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-3.78%
EPS Next 2Y4.35%
EPS Next 3Y6.8%
EPS Next 5YN/A
Revenue 1Y (TTM)6.24%
Revenue growth 3Y10.27%
Revenue growth 5Y7.35%
Sales Q2Q%-1.83%
Revenue Next Year4.95%
Revenue Next 2Y6.71%
Revenue Next 3Y7.76%
Revenue Next 5YN/A
EBIT growth 1Y5.45%
EBIT growth 3Y17.03%
EBIT growth 5Y8.43%
EBIT Next Year49.78%
EBIT Next 3YN/A
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.
What is the valuation status for MSEX stock?
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.
What is the financial health of MIDDLESEX WATER CO (MSEX) stock?
The financial health rating of MIDDLESEX WATER CO (MSEX) is 1 / 10.
What is the expected EPS growth for MIDDLESEX WATER CO (MSEX) stock?
The Earnings per Share (EPS) of MIDDLESEX WATER CO (MSEX) is expected to decline by -3.78% in the next year.