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Middlesex Water Company (MSEX)

Nasdaq Utilities Water Utilities S&P SmallCap 600
$59.87
+0.37 (+0.62%)
Close of Nov 06, 2026 · end-of-day data
Source: Middlesex Water Company's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 06, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue$132.74M$130.63M$137.94M$134.46M$141.45M$142.99M$162.29M$166.27M$191.88M$194.69M
Operating income$40.30M$37.80M$37.14M$35.52M$37.42M$33.21M$47.33M$39.22M$53.21M$54.38M
Interest expense$5.29M$5.51M$6.76M$7.26M$7.49M$8.11M$9.37M$13.14M$14.02M$14.29M
Pre-tax income$34.48M$33.91M$33.38M$30.75M$34.31M$31.05M$45.67M$32.56M$51.26M$47.64M
Income tax$11.73M$11.10M$924.00K-$3.14M-$4.12M-$5.49M$3.24M$1.04M$6.91M$4.82M
Net income$22.74M$22.81M$32.45M$33.89M$38.42M$36.54M$42.43M$31.52M$44.35M$42.82M
EBITDA$53.83M$52.64M$52.92M$52.75M$58.26M$60.01M$74.81M$68.67M$81.25M$86.87M
EPS (basic)$1.39$1.39$1.97$2.02$2.19$2.08$2.40$1.77$2.48$2.36
EPS (diluted)$1.38$1.38$1.96$2.01$2.18$2.07$2.39$1.76$2.47$2.36
Diluted shares16.43M16.49M16.54K16.83M17.57K17.61K17.71M17.85M17.95M18.14M
Operating margin30.4%28.9%26.9%26.4%26.5%23.2%29.2%23.6%27.7%27.9%
Net margin17.1%17.5%23.5%25.2%27.2%25.6%26.1%19.0%23.1%22.0%

Balance sheet

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash & equivalents$4.32M$4.94M$3.71M$2.23M$4.49M$3.53M$3.83M$2.39M$4.23M$2.80M
Short-term investments$200.00K$200.00K$200.00K———————
Receivables$10.13M$10.79M$11.76M$11.91M$14.57M$15.31M$16.02M$18.17M$18.84M$19.21M
Total current assets$26.72M$29.25M$30.82M$29.13M$34.12M$34.35M$37.31M$108.54M$42.97M$41.77M
Total assets$620.16M$661.14M$767.83M$909.88M$976.47M$1.02B$1.07B$1.24B$1.26B$1.37B
Total current liabilities$47.06M$64.54M$94.36M$64.98M$56.85M$56.62M$117.86M$103.83M$82.89M$93.80M
Short-term debt$6.16M$6.87M$7.34M$7.18M$7.25M$6.73M$17.46M$364.74M$7.71M$7.85M
Long-term debt$134.54M$139.04M$152.85M$230.78M$273.24M$306.52M$290.28M$358.15M$352.82M$378.87M
Total debt$140.70M$145.91M$160.19M$237.96M$280.50M$313.25M$307.74M$722.89M$360.53M$386.72M
Total liabilities————$630.26M$652.29M$674.12M$813.06M$809.91M$871.71M
Shareholders' equity————$346.21M$367.73M$400.33M$422.99M$445.26M$494.03M

Cash flow

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow$47.07M$42.84M$45.86M$36.05M$53.35M$33.03M$61.36M$52.78M$58.73M$62.60M
Capital expenditures————$105.62M$79.38M$91.33M$90.18M$74.62M—
Free cash flow$47.07M$42.84M$45.86M$36.05M-$52.26M-$46.35M-$29.97M-$37.40M-$15.89M$62.60M
Investing cash flow-$47.38M-$50.30M-$72.09M-$89.12M-$105.62M-$79.38M-$88.21M-$90.18M-$74.62M-$100.96M
Financing cash flow$714.00K$9.54M$25.49M$93.91M$16.17M$39.48M$27.15M$35.96M$17.73M$38.61M
Dividends paid$13.14M$14.00M$14.93M$16.16M$18.18M$19.37M$20.81M$22.44M$23.41M$24.92M
Share buybacks———————$619.00K$1.47M—
Stock-based compensation$829.00K$840.00K$1.08M$637.00K$1.10M$1.34M$1.63M$2.21M$1.54M$1.24M
Depreciation & amortization$13.53M$14.85M$15.78M$17.23M$20.84M$26.80M$27.48M$29.44M$28.04M$32.49M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.