52.46 USD
+1.47 (+2.88%)
At close: Feb 10, 2026
52.46 USD
0 (0%)
After Hours: 2/10/2026, 8:24:36 PM
We assign a fundamental rating of 3 out of 10 to MSEX. MSEX was compared to 14 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.
- MSEX had a positive operating cash flow in the past year.
- 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
- With a Return On Assets value of 3.20%, MSEX perfoms like the industry average, outperforming 57.14% of the companies in the same industry.
- MSEX's Return On Equity of 8.87% is in line compared to the rest of the industry. MSEX outperforms 57.14% of its industry peers.
- With a Return On Invested Capital value of 3.32%, MSEX perfoms like the industry average, outperforming 50.00% of the companies in the same 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 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.
- MSEX's Profit Margin has declined in the last couple of years.
- MSEX has a Operating Margin of 27.56%. This is comparable to the rest of the industry: MSEX outperforms 50.00% of its industry peers.
- 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
- 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.
- Looking at the Altman-Z score, with a value of 1.11, MSEX is in line with its industry, outperforming 57.14% of the companies in the same industry.
- MSEX has a Debt/Equity ratio of 0.84. This is a neutral value indicating MSEX is somewhat dependend on debt financing.
- Looking at the Debt to Equity ratio, with a value of 0.84, MSEX is in the better half of 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
WACC8.09%
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.
- A Quick Ratio of 0.36 indicates that MSEX may have some problems paying its short term obligations.
- MSEX's Quick ratio of 0.36 is on the low side compared to the rest of the industry. MSEX is outperformed by 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
- The Earnings Per Share is expected to grow by 6.80% on average over the next years.
- MSEX is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 8.25% yearly.
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.
- 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
- A Price/Earnings ratio of 21.95 indicates a rather expensive valuation of MSEX.
- The rest of the industry has a similar Price/Earnings ratio as MSEX.
- MSEX's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 28.03.
- Based on the Price/Forward Earnings ratio of 19.58, the valuation of MSEX can be described as rather expensive.
- 64.29% of the companies in the same industry are more expensive than MSEX, based on the Price/Forward Earnings ratio.
- When comparing the Price/Forward Earnings ratio of MSEX to the average of the S&P500 Index (27.97), we can say MSEX is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.95 | ||
| Fwd PE | 19.58 |
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 | 15.4 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)5.09
EPS Next 2Y4.15%
EPS Next 3Y6.8%
5. Dividend
5.1 Amount
- With a Yearly Dividend Yield of 2.75%, MSEX has a reasonable but not impressive dividend return.
- Compared to an average industry Dividend Yield of 3.01, 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 1.80.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.75% |
5.2 History
- On average, the dividend of MSEX grows each year by 6.43%, which is quite nice.
- MSEX has been paying a dividend for at least 10 years, so it has 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 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%
52.46
+1.47 (+2.88%)
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-0.03%
Ins Owners0.94%
Ins Owner Change-0.34%
Market Cap962.12M
Revenue(TTM)194.82M
Net Income(TTM)42.94M
Analysts80
Price Target57.12 (8.88%)
Short Float %4.38%
Short Ratio6.22
Dividend
| Industry Rank | Sector 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 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)-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 Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.95 | ||
| Fwd PE | 19.58 | ||
| P/S | 4.94 | ||
| P/FCF | N/A | ||
| P/OCF | 14.68 | ||
| P/B | 1.99 | ||
| P/tB | 1.99 | ||
| EV/EBITDA | 15.4 |
EPS(TTM)2.39
EY4.56%
EPS(NY)2.68
Fwd EY5.11%
FCF(TTM)-1.96
FCFYN/A
OCF(TTM)3.57
OCFY6.81%
SpS10.62
BVpS26.38
TBVpS26.38
PEG (NY)N/A
PEG (5Y)5.09
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
WACC8.09%
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.