GoAI
Get started
Middlesex Water Company logo

Middlesex Water Company

MSEX

NASDAQUtilitiesRegulated Water

Open in GoAI

Previous close

$58.26

−$0.50 · -0.85%

Aug 21, 4:00 PM ET

MSEX company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Buy

Favorable setup — positive multi-factor alignment

Valuation

77

Undervalued

Momentum

49

Neutral

Sentiment

57

Mixed

Risk resilience

73

Moderate Risk

Full GoAI research

Thesis, catalysts, evidence, and risk analysis.

View full GoAI research

AI-generated, informational only, and not investment advice.

Company profile

Company website

Middlesex Water Company primarily delivers vital water and wastewater utility services, structured around two key business units. Its regulated operations are dedicated to the acquisition, treatment, and distribution of water to a broad spectrum of retail and wholesale clients, including residential, commercial, industrial, and fire protection users. This division also oversees regulated wastewater systems in both New Jersey and Delaware. Complementing this, the company's non-regulated segment furnishes contract-based services for the management and maintenance of municipal and private water and wastewater infrastructure within the same states. The firm, established in 1896, maintains its corporate headquarters in Iselin, New Jersey.

Industry
Regulated Water
Sector
Utilities
Headquarters
US
CEO
Nadine Duchemin-Leslie
Listed since
Feb 21, 1973
Employees
395

Market position

Day range

Current $58.26

52-week range

Current $58.26

Open
$58.86
Previous close
$58.76
Volume
92.04K
0.56× average
Average volume
164.87K
Average daily volume
Market cap
1.1B USD
Beta
0.73
Market reference 1
50-day average
$56.0914
+3.87% above average
200-day average
$53.2577
+9.39% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
1.33B USD
P/E (TTM)
22.32×
P/B (TTM)
2.09×
P/S (TTM)
5.33×
EV / EBITDA
14.06×
Earnings yield
4.69%
Free cash flow yield
-3.69%
Dividend yield
2.47%

Profitability & efficiency

Gross margin
43.64%
Operating margin
29.22%
Net margin
23.26%
Return on equity
8.64%
Return on assets
3.14%
Return on invested capital
3.74%

Financial health

Debt / equity
0.84×
Current ratio
0.45×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends55%42%29%16%Gross margin, FY2021: 48.53%Gross margin, FY2022: 51.31%Gross margin, FY2023: 50.01%Gross margin, FY2024: 51.86%Gross margin, FY2025: 39.18%Operating margin, FY2021: 23.20%Operating margin, FY2022: 29.14%Operating margin, FY2023: 23.59%Operating margin, FY2024: 27.73%Operating margin, FY2025: 27.93%Net margin, FY2021: 25.53%Net margin, FY2022: 26.12%Net margin, FY2023: 18.96%Net margin, FY2024: 23.11%Net margin, FY2025: 21.99%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 48.53%. Gross margin FY2022 51.31%. Gross margin FY2023 50.01%. Gross margin FY2024 51.86%. Gross margin FY2025 39.18%. Operating margin FY2021 23.20%. Operating margin FY2022 29.14%. Operating margin FY2023 23.59%. Operating margin FY2024 27.73%. Operating margin FY2025 27.93%. Net margin FY2021 25.53%. Net margin FY2022 26.12%. Net margin FY2023 18.96%. Net margin FY2024 23.11%. Net margin FY2025 21.99%.

Income trends

Revenue

194.69M USD+1.47%

Operating income

54.38M USD+2.19%

Net income

42.82M USD-3.45%
Income trends across reported periods211.01M USD145.74M USD80.48M USD15.21M USDRevenue, FY2021: 143.14M USDRevenue, FY2022: 162.43M USDRevenue, FY2023: 166.27M USDRevenue, FY2024: 191.88M USDRevenue, FY2025: 194.69M USDOperating income, FY2021: 33.21M USDOperating income, FY2022: 47.33M USDOperating income, FY2023: 39.22M USDOperating income, FY2024: 53.21M USDOperating income, FY2025: 54.38M USDNet income, FY2021: 36.54M USDNet income, FY2022: 42.43M USDNet income, FY2023: 31.52M USDNet income, FY2024: 44.35M USDNet income, FY2025: 42.82M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 143.14M USD. Revenue FY2022 162.43M USD. Revenue FY2023 166.27M USD. Revenue FY2024 191.88M USD. Revenue FY2025 194.69M USD. Operating income FY2021 33.21M USD. Operating income FY2022 47.33M USD. Operating income FY2023 39.22M USD. Operating income FY2024 53.21M USD. Operating income FY2025 54.38M USD. Net income FY2021 36.54M USD. Net income FY2022 42.43M USD. Net income FY2023 31.52M USD. Net income FY2024 44.35M USD. Net income FY2025 42.82M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue194.69M USD191.88M USD166.27M USD162.43M USD143.14M USD
Cost of goods sold118.4M USD92.36M USD83.11M USD79.1M USD73.67M USD
Gross profit76.29M USD99.51M USD83.16M USD83.34M USD69.47M USD
Operating expenses21.91M USD46.3M USD43.94M USD36.01M USD36.26M USD
Interest expense14.3M USD12.77M USD10.71M USD7.05M USD5.46M USD
Depreciation and amortization32.49M USD28.04M USD29.44M USD27.48M USD26.8M USD
Operating income54.38M USD53.21M USD39.22M USD47.33M USD33.21M USD
Net income42.82M USD44.35M USD31.52M USD42.43M USD36.54M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
36%
4 beats, 6 misses, 1 met estimate
Average EPS surprise
+1.93%
11 comparable reports
Latest EPS result
0.79
Estimate 0.66 · Beat by 20.24%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.90.710.510.32Q1 '25BeatQ2 '25MissQ3 '25MissQ4 '25MissQ1 '26MissQ2 '26MetQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 28, 2025: actual 0.49, estimate 0.36, surprise +36.11%, Beat. Q2 2025, reported May 1, 2025: actual 0.53, estimate 0.55, surprise -3.64%, Miss. Q3 2025, reported Jul 31, 2025: actual 0.6, estimate 0.68, surprise -11.76%, Miss. Q4 2025, reported Oct 31, 2025: actual 0.77, estimate 0.86, surprise -10.47%, Miss. Q1 2026, reported Feb 19, 2026: actual 0.46, estimate 0.49, surprise -6.12%, Miss. Q2 2026, reported Apr 30, 2026: actual 0.57, estimate 0.57, surprise 0.00%, Met estimate. Q3 2026, reported Jul 30, 2026: actual 0.79, estimate 0.657, surprise +20.24%, Beat. Q4 2026, reported Oct 30, 2026: actual —, estimate 0.817, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates62.92M55.74M48.55M41.37MQ1 '25BeatQ2 '25BeatQ3 '25MissQ4 '25BeatQ1 '26BeatQ2 '26MissQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 28, 2025: actual 47.11M USD, estimate 45M USD, surprise +4.68%, Beat. Q2 2025, reported May 1, 2025: actual 44.3M USD, estimate 43.79M USD, surprise +1.17%, Beat. Q3 2025, reported Jul 31, 2025: actual 49.32M USD, estimate 60.5M USD, surprise -18.47%, Miss. Q4 2025, reported Oct 31, 2025: actual 54.09M USD, estimate 47.61M USD, surprise +13.62%, Beat. Q1 2026, reported Feb 19, 2026: actual 46.98M USD, estimate 46.91M USD, surprise +0.15%, Beat. Q2 2026, reported Apr 30, 2026: actual 48.71M USD, estimate 49.75M USD, surprise -2.08%, Miss. Q3 2026, reported Jul 30, 2026: actual 56.36M USD, estimate 54.51M USD, surprise +3.39%, Beat. Q4 2026, reported Oct 30, 2026: actual —, estimate 59.05M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$61.67

5.85% upside
Past 12 months12-month forecastHigh $66.00Average $61.67Low $55.00

Rating distribution

4 ratings

Limited analyst sample: 4 ratings. Interpret the distribution with caution.

Strong buy00%
Buy375%
Hold125%
Sell00%
Strong sell00%

Recent analyst actions

3 institutions
Freedom BrokermaintainHold

MSEX news

defenseworld.net

Reviewing Pennon Group (OTCMKTS:PEGRY) & Middlesex Water (NASDAQ:MSEX)

Pennon Group (OTCMKTS:PEGRY - Get Free Report) and Middlesex Water (NASDAQ: MSEX - Get Free Report) are both utilities companies, but which is the superior business? We will compare the two companies based on the…

Read source
globenewswire.com

Middlesex Water Company Reports Second Quarter 2026 Earnings

Diluted earnings per share (“EPS”) of $0.79 Invested $53 million in water and wastewater utility infrastructure during the first half of 2026 Declared $0.36 common stock cash dividend ISELIN, N.J., July 30, 2026 (GLOBE…

Read source
globenewswire.com

Middlesex Water Company Declares Quarterly Cash Dividend

ISELIN, N.J., July 23, 2026 (GLOBE NEWSWIRE) -- Middlesex Water Company (NASDAQ: MSEX) announced today that its Board of Directors has declared a quarterly cash dividend of $0.36 per share on its common stock, payable…

Read source
globenewswire.com

Middlesex Water Company to Report Second Quarter 2026 Earnings on July 30

ISELIN, N.J., July 16, 2026 (GLOBE NEWSWIRE) -- Middlesex Water Company (NASDAQ: MSEX) plans to report its financial results for the second quarter ended June 30, 2026, after the market closes on Thursday, July 30, 2026.

Read source
zacks.com

AWK Concludes the Acquisition of Nexus Utility Assets for $315 Million

American Water Works closes a $315M Nexus deal across eight states, adding 47,000 customers as it pushes acquisitions and a $3.7B 2026 capex plan.

Read source
seekingalpha.com

Middlesex Water: Not My Favorite Utility, Though Valuation Has Improved (Rating Upgrade)

Middlesex Water has corrected sharply from a period of prior overvaluation. MSEX remains a slow-growing, defensive utility, though its operational results have improved a bit lately. Interest rate environment and rising…

Read source

ETFs holding MSEX

Funds reporting this stock among their holdings, ordered by reported position size.

iShares Core S&P Small-Cap ETF logoiShares Core S&P Small-Cap ETFIJR
Market value
65.78M
Weight
0.06%
AUM
111.19B USD
Expense ratio
0.06%
Price / 1D
$147.31+0.64%
Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
33.04M
Weight
0.00%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$378.24+0.44%
iShares Russell 2000 ETF logoiShares Russell 2000 ETFIWM
Market value
27.39M
Weight
0.03%
AUM
81.62B USD
Expense ratio
0.19%
Price / 1D
$299.96+0.77%
Vanguard Extended Market ETF logoVanguard Extended Market ETFVXF
Market value
12.37M
Weight
0.01%
AUM
93.7B USD
Expense ratio
0.05%
Price / 1D
$245.53+0.82%
State Street SPDR Portfolio S&P 600 Small Cap ETF logoState Street SPDR Portfolio S&P 600 Small Cap ETFSPSM
Market value
10.21M
Weight
0.06%
AUM
17.03B USD
Expense ratio
0.03%
Price / 1D
$57.28+0.61%
iShares Russell 2000 Value ETF logoiShares Russell 2000 Value ETFIWN
Market value
9.92M
Weight
0.07%
AUM
14.66B USD
Expense ratio
0.24%
Price / 1D
$224.81+0.45%
ProShares - Russell 2000 Dividend Growers ETF logoProShares - Russell 2000 Dividend Growers ETFSMDV
Market value
8.01M
Weight
1.07%
AUM
748.06M USD
Expense ratio
0.40%
Price / 1D
$76.94-0.01%
Invesco S&P Global Water Index ETF logoInvesco S&P Global Water Index ETFCGW
Market value
7.76M
Weight
0.75%
AUM
1.05B USD
Expense ratio
0.58%
Price / 1D
$65.10+0.37%

Continue in GoAI

Research MSEX

research.disclaimer