51.24 USD
-1.18 (-2.25%)
At close: Feb 6, 2026
51.24 USD
0 (0%)
After Hours: 2/6/2026, 8:00:01 PM
MSEX gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals 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. While showing a medium growth rate, MSEX is valued expensive at the moment.
1. Profitability
1.1 Basic Checks
- In the past year MSEX was profitable.
- MSEX had a positive operating cash flow in the past year.
- Each year in the past 5 years MSEX has been profitable.
- In the past 5 years MSEX always reported a positive cash flow from operatings.
1.2 Ratios
- MSEX has a Return On Assets (3.20%) which is in line with its industry peers.
- MSEX has a Return On Equity (8.87%) which is in line with its industry peers.
- Looking at the Return On Invested Capital, with a value of 3.32%, MSEX is in line with its industry, outperforming 50.00% of the companies in the same industry.
- Measured over the past 3 years, the Average Return On Invested Capital for MSEX is in line with the industry average of 4.99%.
- 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.
- The number of shares outstanding for MSEX has been increased compared to 1 year ago.
- The number of shares outstanding for MSEX has been increased compared to 5 years ago.
- MSEX has a better debt/assets ratio than last year.
2.2 Solvency
- Based on the Altman-Z score of 1.11, we must say that MSEX is in the distress zone and has some risk of bankruptcy.
- With a Altman-Z score value of 1.11, MSEX perfoms like the industry average, outperforming 57.14% of the companies in the same industry.
- A Debt/Equity ratio of 0.84 indicates that MSEX is somewhat dependend on debt financing.
- MSEX has a better Debt to Equity ratio (0.84) than 71.43% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.84 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 1.11 |
ROIC/WACC0.41
WACC8.07%
2.3 Liquidity
- A Current Ratio of 0.42 indicates that MSEX may have some problems paying 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.
- 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.
- Looking at the last year, MSEX shows a small growth in Revenue. The Revenue has grown by 6.24% in the last year.
- 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 6.23% yearly.
- MSEX is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 7.47% yearly.
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
- The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
- 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
- With a Price/Earnings ratio of 21.44, MSEX is valued on the expensive side.
- The rest of the industry has a similar Price/Earnings ratio as MSEX.
- MSEX is valuated rather cheaply when we compare the Price/Earnings ratio to 27.92, which is the current average of the S&P500 Index.
- MSEX is valuated rather expensively with a Price/Forward Earnings ratio of 19.12.
- MSEX's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. MSEX is cheaper than 64.29% of the companies in the same industry.
- MSEX's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.78.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.44 | ||
| Fwd PE | 19.12 |
4.2 Price Multiples
- MSEX's Enterprise Value to EBITDA ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 15.39 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)4.97
EPS Next 2Y4.17%
EPS Next 3Y6.23%
5. Dividend
5.1 Amount
- MSEX has a Yearly Dividend Yield of 2.77%.
- Compared to an average industry Dividend Yield of 2.99, MSEX has a dividend in line with its industry peers.
- MSEX's Dividend Yield is rather good when compared to the S&P500 average which is at 1.83.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.77% |
5.2 History
- On average, the dividend of MSEX grows each year by 6.43%, which is quite nice.
- MSEX has paid a dividend for at least 10 years, which is 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.
- The dividend of MSEX is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP56.99%
EPS Next 2Y4.17%
EPS Next 3Y6.23%
51.24
-1.18 (-2.25%)
Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryWater Utilities
Earnings (Last)10-31 2025-10-31/amc
Earnings (Next)02-26 2026-02-26/amc
Inst Owners82.74%
Inst Owner Change-0.2%
Ins Owners0.94%
Ins Owner Change-0.34%
Market Cap939.74M
Revenue(TTM)194.82M
Net Income(TTM)42.94M
Analysts80
Price Target58.91 (14.97%)
Short Float %4.38%
Short Ratio6.22
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.77% |
Yearly Dividend1.32
Dividend Growth(5Y)6.43%
DP56.99%
Div Incr Years2
Div Non Decr Years2
Ex-Date02-17 2026-02-17 (0.36)
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)0%
PT rev (3m)-9.77%
EPS NQ rev (1m)-0.73%
EPS NQ rev (3m)0%
EPS NY rev (1m)-0.14%
EPS NY rev (3m)-5.18%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-1.06%
Revenue NY rev (1m)-0.02%
Revenue NY rev (3m)-1.37%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.44 | ||
| Fwd PE | 19.12 | ||
| P/S | 4.82 | ||
| P/FCF | N/A | ||
| P/OCF | 14.34 | ||
| P/B | 1.94 | ||
| P/tB | 1.94 | ||
| EV/EBITDA | 15.39 |
EPS(TTM)2.39
EY4.66%
EPS(NY)2.68
Fwd EY5.23%
FCF(TTM)-1.96
FCFYN/A
OCF(TTM)3.57
OCFY6.97%
SpS10.62
BVpS26.38
TBVpS26.38
PEG (NY)N/A
PEG (5Y)4.97
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 | 1.11 |
F-Score4
WACC8.07%
ROIC/WACC0.41
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-4.19%
EPS Next 2Y4.17%
EPS Next 3Y6.23%
EPS Next 5YN/A
Revenue 1Y (TTM)6.24%
Revenue growth 3Y10.27%
Revenue growth 5Y7.35%
Sales Q2Q%-1.83%
Revenue Next Year5.05%
Revenue Next 2Y6.85%
Revenue Next 3Y7.47%
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 -4.19% in the next year.