52.29 USD
-1.19 (-2.23%)
52.29 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. MSEX has a medium profitability rating, but doesn't score so well on its financial health evaluation. MSEX is valied quite expensively at the moment, while 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
- Looking at the Return On Assets, with a value of 3.20%, MSEX is in line with its industry, outperforming 57.14% of the companies in the same industry.
- Looking at the Return On Equity, with a value of 8.87%, MSEX is in line with its industry, outperforming 57.14% of the companies in the same industry.
- MSEX has a Return On Invested Capital of 3.32%. This is comparable to the rest of the industry: MSEX outperforms 50.00% of its industry peers.
- The Average Return On Invested Capital over the past 3 years for MSEX is in line with the industry average of 4.99%.
- 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
- With a decent Profit Margin value of 22.04%, MSEX is doing good in the industry, outperforming 71.43% of the companies in the same industry.
- In the last couple of years the Profit Margin of MSEX has declined.
- The Operating Margin of MSEX (27.56%) is comparable to the rest of the industry.
- In the last couple of years the Operating Margin of MSEX has remained more or less at the same level.
| 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.
- 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 1.11. 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 (1.11) which is in line with its industry peers.
- A Debt/Equity ratio of 0.84 indicates that MSEX is somewhat dependend on debt financing.
- With a decent Debt to Equity ratio value of 0.84, MSEX is doing good in the industry, outperforming 71.43% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.84 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 1.11 |
ROIC/WACC0.41
WACC8.13%
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's Current ratio of 0.42 is on the low side compared to the rest of the industry. MSEX is outperformed by 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.
- MSEX has a worse Quick ratio (0.36) 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%.
- 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%.
- The Revenue has been growing slightly by 7.35% on average over the past years.
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 6.23% on average per year.
- The Revenue is expected to grow by 7.47% on average over the next years.
EPS Next Y-4.19%
EPS Next 2Y4.17%
EPS Next 3Y6.23%
EPS Next 5YN/A
Revenue Next Year5.05%
Revenue Next 2Y6.85%
Revenue Next 3Y7.47%
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.
- 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
- A Price/Earnings ratio of 21.88 indicates a rather expensive valuation of MSEX.
- Compared to the rest of the industry, the Price/Earnings ratio of MSEX is on the same level as its industry peers.
- MSEX's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 27.21.
- The Price/Forward Earnings ratio is 19.51, which indicates a rather expensive current valuation of MSEX.
- Based on the Price/Forward Earnings ratio, MSEX is valued a bit cheaper than 64.29% of the companies in the same industry.
- When comparing the Price/Forward Earnings ratio of MSEX to the average of the S&P500 Index (25.98), we can say MSEX is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.88 | ||
| Fwd PE | 19.51 |
4.2 Price Multiples
- The rest of the industry has a similar Enterprise Value to EBITDA ratio as MSEX.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 15.36 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)5.07
EPS Next 2Y4.17%
EPS Next 3Y6.23%
5. Dividend
5.1 Amount
- MSEX has a Yearly Dividend Yield of 2.69%. Purely for dividend investing, there may be better candidates out there.
- MSEX's Dividend Yield is comparable with the industry average which is at 2.93.
- Compared to an average S&P500 Dividend Yield of 1.81, MSEX pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.69% |
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
- 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 slower than its dividend. This means the dividend growth is not sustainable.
DP56.99%
EPS Next 2Y4.17%
EPS Next 3Y6.23%
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 -4.19% in the next year.