MIDDLESEX WATER CO (MSEX) Stock Fundamental Analysis

NASDAQ:MSEX • US5966801087

55.39 USD
+1.84 (+3.44%)
At close: Feb 13, 2026
55.39 USD
0 (0%)
After Hours: 2/13/2026, 8:27:03 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

3

MSEX gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals 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. While showing a medium growth rate, MSEX is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

5

1. Profitability

1.1 Basic Checks

  • MSEX had positive earnings in the past year.
  • In the past year MSEX had a positive cash flow from operations.
  • In the past 5 years MSEX has always been profitable.
  • In the past 5 years MSEX always reported a positive cash flow from operatings.
MSEX Yearly Net Income VS EBIT VS OCF VS FCFMSEX Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M -20M 40M -40M 60M

1.2 Ratios

  • MSEX has a Return On Assets (3.20%) which is comparable to the rest of the industry.
  • MSEX has a Return On Equity of 8.87%. This is comparable to the rest of the industry: MSEX outperforms 57.14% of its industry peers.
  • The Return On Invested Capital of MSEX (3.32%) 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 4.99%.
  • The 3 year average ROIC (3.15%) for MSEX is below the current ROIC(3.32%), indicating increased profibility in the last year.
Industry RankSector 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%
MSEX Yearly ROA, ROE, ROICMSEX Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

1.3 Margins

  • The Profit Margin of MSEX (22.04%) is better than 71.43% of its industry peers.
  • MSEX's Profit Margin has declined in the last couple of years.
  • MSEX's Operating Margin of 27.56% is in line compared to the rest of the industry. MSEX outperforms 50.00% of its industry peers.
  • In the last couple of years the Operating Margin of MSEX has remained more or less at the same level.
Industry RankSector 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
MSEX Yearly Profit, Operating, Gross MarginsMSEX Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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ROAROEROICOperating and Profit MarginShow most profitable peers

1

2. Health

2.1 Basic Checks

  • MSEX has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • The number of shares outstanding for MSEX has been increased compared to 1 year ago.
  • MSEX has more shares outstanding than it did 5 years ago.
  • MSEX has a better debt/assets ratio than last year.
MSEX Yearly Shares OutstandingMSEX Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M
MSEX Yearly Total Debt VS Total AssetsMSEX Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

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.
  • With a Altman-Z score value of 1.12, 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.
  • 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 RankSector Rank
Debt/Equity 0.84
Debt/FCF N/A
Altman-Z 1.12
ROIC/WACC0.41
WACC8%
MSEX Yearly LT Debt VS Equity VS FCFMSEX Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M 200M 300M 400M

2.3 Liquidity

  • A Current Ratio of 0.42 indicates that MSEX may have some problems paying its short term obligations.
  • With a Current ratio value of 0.42, MSEX is not doing good in the industry: 92.86% 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.
  • Looking at the Quick ratio, with a value of 0.36, MSEX is doing worse than 92.86% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.42
Quick Ratio 0.36
MSEX Yearly Current Assets VS Current LiabilitesMSEX Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. Growth

3.1 Past

  • The Earnings Per Share has been growing slightly by 3.91% over the past year.
  • 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%.
  • MSEX shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 7.35% yearly.
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

  • The Earnings Per Share is expected to grow by 6.80% on average over the next years.
  • The Revenue is expected to grow by 8.25% on average over the next years. This is quite good.
EPS Next Y-4.4%
EPS Next 2Y4.15%
EPS Next 3Y6.8%
EPS Next 5YN/A
Revenue Next Year4.81%
Revenue Next 2Y6.9%
Revenue Next 3Y8.25%
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.
MSEX Yearly Revenue VS EstimatesMSEX Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 50M 100M 150M 200M
MSEX Yearly EPS VS EstimatesMSEX Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1 2 3

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Find the best growth stocksShow best growing peers

2

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 23.18, the valuation of MSEX can be described as rather expensive.
  • The rest of the industry has a similar Price/Earnings ratio as MSEX.
  • MSEX's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 27.97.
  • A Price/Forward Earnings ratio of 20.67 indicates a rather expensive valuation of MSEX.
  • 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 27.96.
Industry RankSector Rank
PE 23.18
Fwd PE 20.67
MSEX Price Earnings VS Forward Price EarningsMSEX Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • MSEX's Enterprise Value to EBITDA ratio is in line with the industry average.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 15.63
MSEX Per share dataMSEX EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15 20 25

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)5.37
EPS Next 2Y4.15%
EPS Next 3Y6.8%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. Dividend

5.1 Amount

  • MSEX has a Yearly Dividend Yield of 2.75%.
  • MSEX's Dividend Yield is comparable with the industry average which is at 2.98.
  • MSEX's Dividend Yield is a higher than the S&P500 average which is at 1.84.
Industry RankSector Rank
Dividend Yield 2.75%

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.
  • The dividend of MSEX decreased in the last 3 years.
Dividend Growth(5Y)6.43%
Div Incr Years2
Div Non Decr Years2
MSEX Yearly Dividends per shareMSEX Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.2 0.4 0.6 0.8 1

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 2Y4.15%
EPS Next 3Y6.8%
MSEX Yearly Income VS Free CF VS DividendMSEX Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M -20M 40M -40M
MSEX Dividend Payout.MSEX Dividend Payout, showing the Payout Ratio.MSEX Dividend Payout.PayoutRetained Earnings

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Find the best dividend stocksShow peers with best dividend

MIDDLESEX WATER CO

NASDAQ:MSEX (2/13/2026, 8:27:03 PM)

After market: 55.39 0 (0%)

55.39

+1.84 (+3.44%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryWater Utilities
Earnings (Last)10-31
Earnings (Next)02-26
Inst Owners82.74%
Inst Owner Change-0.03%
Ins Owners0.94%
Ins Owner Change-0.34%
Market Cap1.02B
Revenue(TTM)194.82M
Net Income(TTM)42.94M
Analysts80
Price Target57.12 (3.12%)
Short Float %4.38%
Short Ratio6.22
Dividend
Industry RankSector Rank
Dividend Yield 2.75%
Yearly Dividend1.32
Dividend Growth(5Y)6.43%
DP56.99%
Div Incr Years2
Div Non Decr Years2
Ex-Date02-17
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)-3.03%
PT rev (3m)-12.5%
EPS NQ rev (1m)0.73%
EPS NQ rev (3m)1.47%
EPS NY rev (1m)-0.36%
EPS NY rev (3m)-5.38%
Revenue NQ rev (1m)-1.39%
Revenue NQ rev (3m)-2.44%
Revenue NY rev (1m)-0.24%
Revenue NY rev (3m)-1.6%
Valuation
Industry RankSector Rank
PE 23.18
Fwd PE 20.67
P/S 5.21
P/FCF N/A
P/OCF 15.5
P/B 2.1
P/tB 2.1
EV/EBITDA 15.63
EPS(TTM)2.39
EY4.31%
EPS(NY)2.68
Fwd EY4.84%
FCF(TTM)-1.96
FCFYN/A
OCF(TTM)3.57
OCFY6.45%
SpS10.62
BVpS26.38
TBVpS26.38
PEG (NY)N/A
PEG (5Y)5.37
Graham Number37.67
Profitability
Industry RankSector 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 RankSector 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
WACC8%
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-4.4%
EPS Next 2Y4.15%
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 Year4.81%
Revenue Next 2Y6.9%
Revenue Next 3Y8.25%
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 -4.4% in the next year.