MSEX - NASDAQ

Middlesex Water Company

MSEX·NASDAQ

$52.38

+0.87%

UtilitiesRegulated Water

Middlesex Water Company owns and operates regulated water utility and wastewater systems. It operates in two segments, Regulated and Non-Regulated. The Regulated segment collects, treats, and distributes water on a retail and wholesale basis to residential, commercial, industrial, and fire protection customers, as well as provides regulated wastewater systems in New Jersey and Delaware. The Non-Regulated segment provides non-regulated contract services for the operation and maintenance of municipal and private water and wastewater systems in New Jersey and Delaware. The company was incorporated in 1896 and is headquartered in Iselin, New Jersey.

Statements Value Model

At a Glance

Live Snapshot

Market Cap$975.54M

EPS2.3600

P/E Ratio22.19

Earnings Date07/30/2026

1.37B

Assets

3Y+27.0%

5Y+40.0%

10Y+120.0%

871.71M

Total Liabilities

3Y+30.0%

5Y+39.0%

10Y+118.0%

494.03M

Total Equity

11%

3Y+23.0%

5Y+42.0%

10Y+124.0%

Middlesex Water Company Funding & Solvency Profile

MSEX · NASDAQ

Current Assets

Cash & Cash Equivalents2.80M

Net Receivables19.21M

Inventory7.55M

Other Current Assets9.36M

Total Current Assets42 M

Non-Current Assets

Property, Plant & Equipment1.97M

Goodwill & Intangible Assets0.00

Long-Term Investments1.68M

Other Non-Current Assets1.32B

Total Non-Current Assets1 B

Total Assets

1.37B

Financial Health Analysis

Current Ratio

0.45x

Warning: Liquidity concerns. Current assets may not be sufficient to cover short-term obligations.

Debt-to-Equity Ratio

1.76x

Elevated leverage. Debt exceeds equity, which amplifies both gains and risks. Monitor debt servicing ability.

Working Capital

-52029000

Negative working capital indicates short-term liabilities exceed short-term assets—potential liquidity stress.

Asset Composition

3% Current

Capital-intensive business with significant long-term investments in property, equipment, or intangibles.

Financial Health Insight

Financial stress indicators: Both liquidity and leverage metrics raise concerns. The company may face challenges meeting obligations and should focus on strengthening its balance sheet.

Middlesex Water Company Balance Sheet

MSEX • NASDAQ

Middlesex Water Company Balance Sheet	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009	Dec 2008	Dec 2007	Dec 2006
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents	2.8M	4.2M	2.4M	3.8M	3.5M	4.5M	2.2M	3.7M	4.9M	3.9M	3.5M	2.7M	4.8M	3M	3.1M	2.5M	4.3M	3.3M	2M	5.8M
Cash & Short-Term Investments	2.8M	4.2M	2.4M	3.8M	3.5M	4.5M	2.2M	3.7M	4.9M	3.9M	3.5M	2.7M	4.8M	3M	3.1M	2.5M	4.3M	3.3M	2M	5.8M
Net Receivables	19.2M	29.6M	97.3M	24.7M	22.6M	21.6M	19.1M	19.1M	17.8M	16.7M	16.3M	15.9M	17.3M	17.9M	16.1M	16.7M	15M	14.3M	12.8M	12.6M
Accounts Receivables	19.2M	18.8M	27.5M	24.7M	22.6M	21.6M	19.1M	19.1M	17.8M	10.1M	10.1M	10M	17.3M	17.9M	16.1M	16.7M	15M	14.3M	12.8M	12.6M
Other Receivables	0.0	10.8M	69.9M	0.0	0.0	0.0	0.0	0.0	0.0	6.6M	6.2M	5.9M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Inventory	7.5M	6.7M	7M	6.2M	5.4M	5.1M	5.4M	5.4M	4.1M	4.1M	2.6M	2.3M	2M	1.4M	2M	2.2M	1.6M	1.5M	1.2M	1.3M
Prepaids	2.8M	2.4M	1.8M	2.6M	2.9M	2.9M	2.4M	2.6M	2.4M	2M	2M	2M	1.7M	2.3M	1.6M	1.4M	1.1M	1.5M	1.4M	1.2M
Other Current Assets	9.4M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total Current Assets	41.8M	43M	108.5M	37.3M	34.4M	34.1M	29.1M	30.8M	29.2M	26.7M	24.4M	22.9M	25.8M	24.6M	22.9M	22.8M	22M	20.6M	17.4M	20.9M
NON-CURRENT ASSETS
Property, Plant, and Equipment (Net)	2M	1.1B	1B	924.4M	869.9M	801.8M	711.7M	618.5M	557.2M	517.8M	481.9M	465.4M	446.5M	435.2M	422.2M	398.7M	376.5M	359.5M	333.9M	310.9M
Long-Term Investments	1.7M	0.0	0.0	0.0	0.0	0.0	0.0	2M	0.0	0.0	3.4M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Tax Assets	0.0	0.0	0.0	77.8M	69.5M	0.0	54.4M	47.3M	43.2M	72.1M	67.7M	47.3M	39.1M	41.8M	37M	29.7M	27.8M	21.7M	17.9M	15.8B
Other Non-Current Assets	1.3B	154.2M	114.5M	35M	46.3M	140.5M	114.7M	71.3M	31.5M	3.6M	10.7M	40.2M	18.9M	60.1M	55.4M	38M	31.7M	38.2M	23.5M	-15.7B
Total Non-Current Assets	1.3B	1.2B	1.1B	1B	985.7M	942.3M	880.7M	737M	631.9M	593.4M	560.3M	552.9M	504.5M	537.1M	514.7M	466.4M	436M	419.4M	375.2M	349.4M
Other Assets	0.0	0.0	0.0	26K	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total Assets	1.4B	1.3B	1.2B	1.1B	1B	976.5M	909.9M	767.8M	661.1M	620.2M	584.7M	575.8M	530.3M	561.7M	537.5M	489.2M	458.1M	440M	392.7M	370.3M
LIABILITIES
CURRENT LIABILITIES
Total Payables	47.3M	40M	44.4M	37M	29.7M	40.6M	30.9M	33.6M	25.3M	24.7M	15.7M	15.3M	14.5M	13.1M	13.6M	15.2M	10M	13.5M	6.5M	5.5M
Accounts Payable	31.3M	28.1M	27.6M	24.8M	21.1M	30.4M	23.3M	19.3M	13.9M	12.3M	6.5M	6.4M	6.3M	3.8M	5.7M	6.4M	4.3M	5.7M	6.5M	5.5M
Other Payables	16M	12M	16.8M	12.2M	8.6M	10.1M	7.6M	14.2M	11.4M	12.4M	9.1M	8.9M	8.1M	9.3M	7.8M	8.8M	5.7M	7.8M	0.0	0.0
Accrued Expenses	0.0	2.9M	3.1M	2.5M	2M	2.1M	2M	1.3M	1.1M	1.1M	1.1M	1.1M	1.2M	955K	1.6M	1.6M	1.9M	2.1M	17.8M	10.1M
Short Term Debt	36.7M	30.7M	50.5M	73M	19.7M	9.3M	27.2M	55.8M	34.9M	18.2M	8.7M	24.9M	33.8M	39.1M	28.8M	21.4M	46.6M	43.9M	2.7M	2.5M
Capital Lease Obligations (Current)	0.0	0.0	600K	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Tax Payables	0.0	12M	10.5M	12.2M	8.6M	10.1M	7.6M	14.2M	11.4M	12.4M	9.1M	8.9M	8.1M	9.3M	7.8M	8.8M	5.7M	0.0	0.0	0.0
Deferred Revenue	497K	1.5M	1.4M	1.4M	1.3M	1.3M	1.2M	1M	951K	923K	880K	839K	837K	756K	734K	864K	861K	842K	758K	600.6M
Other Current Liabilities	9.3M	7.8M	3.8M	4M	3.8M	3.6M	3.6M	2.6M	2.3M	2.2M	1.9M	1.7M	2.4M	2.1M	2M	1.7M	1.4M	1.2M	0.0	1.5K
Total Current Liabilities	93.8M	82.9M	103.8M	117.9M	56.6M	56.8M	65M	94.4M	64.5M	47.1M	28.3M	43.9M	52.7M	55.9M	46.7M	40.7M	60.7M	61.5M	27M	18.1M
NON-CURRENT LIABILITIES
Long Term Debt	380.7M	352.8M	358.2M	290.3M	306.5M	273.2M	230.8M	152.9M	139M	134.5M	136.2M	136M	129.8M	131.5M	132.2M	133.8M	124.9M	118.2M	131.6M	130.7M
Deferred Revenue (Non-Current)	25.5M	22.6M	21.3M	21.4M	23.5M	23.4M	23.9M	22.6M	21.4M	20.8M	20.5M	22M	21.8M	22M	21.9M	35.9M	32.5M	-133.8M	-143.9M	-140.2M
Deferred Tax Liabilities (Non-Current)	110.5M	101.2M	88.7M	77.8M	69.5M	61.3M	54.4M	47.3M	43.2M	72.8M	68.5M	48.2M	40.1M	42.8M	38.2M	30.9M	29.1M	23.1M	19.4M	17.6M
Other Non-Current Liabilities	258M	246.3M	235.9M	161M	189.7M	208.3M	204.2M	199.6M	161.4M	124M	122M	147.9M	156.2M	124.5M	140.2M	107M	68M	96M	77.5M	-130.7M
Total Non-Current Liabilities	777.9M	725.4M	707.1M	554.2M	593.6M	571.3M	519M	422.2M	365M	352.2M	347.3M	332.2M	286M	320.8M	310.5M	271.8M	254.4M	237.3M	228.5M	218.9M
Other Liabilities	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	52K	30K	-74.6K
Capital Lease Obligations	1.8M	2.4M	3.7M	3.7M	4.4M	5M	5.7M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total Liabilities	871.7M	808.3M	811M	672M	650.2M	628.2M	584M	516.6M	429.5M	399.3M	375.6M	376M	338.7M	376.7M	357.2M	312.5M	315.1M	298.8M	255.5M	237M
SHAREHOLDERS' EQUITY
Treasury Stock	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	92.4M	0.0	0.0	0.0	0.0	0.0
Preferred Stock	1.3M	1.6M	2.1M	2.1M	2.1M	2.1M	2.1M	2.4M	2.4M	2.4M	2.4M	2.4M	2.9M	3.4M	3.4M	3.4M	3.4M	3.4M	4M	4M
Common Stock	279.1M	248.2M	246.8M	233.1M	221.9M	217.5M	215.1M	157.4M	155.1M	153M	150.8M	148.7M	146.2M	143.6M	141.4M	139.5M	109.4M	107.7M	105.7M	104.2B
Additional Paid-In Capital	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	143.6M	141.4M	139.5M	109.4M	107.7M	105.7M	104.2M
Retained Earnings	214.9M	197.1M	176.2M	167.3M	145.8M	128.8M	108.7M	91.4M	74.1M	65.4M	55.9M	48.6M	42.6M	38.1M	35.5M	33.7M	30.3M	30.1M	27.4M	25M
Accumulated Other Comprehensive Income/Loss	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	69K	94K
Other Total Stockholders' Equity	0.0	0.0	0.0	0.0	0.0	0.0	0.0	157.4M	0.0	0.0	126.3M	118M	0.0	-143.6M	-49.1M	-54.8M	-32.3M	-37.2M	-105.7M	1.1K
Total Stockholders' Equity	494M	446.9M	425.1M	402.4M	369.8M	348.3M	325.9M	251.2M	231.6M	220.9M	209.1M	199.7M	191.6M	185M	180.3M	176.6M	143M	141.2M	137.1M	133.3M
Total Equity	494M	446.9M	425.1M	402.4M	369.8M	348.3M	325.9M	251.2M	231.6M	220.9M	209.1M	199.7M	191.6M	185M	180.3M	176.6M	143M	141.2M	137.1M	133.3M
SUMMARY
Total Liabilities & Equity	1.4B	1.3B	1.2B	1.1B	1B	976.5M	909.9M	767.8M	661.1M	620.2M	584.7M	575.8M	530.3M	561.7M	537.5M	489.2M	458.1M	440M	392.7M	370.3M
Total Investments	1.7M	0.0	0.0	0.0	0.0	0.0	0.0	2M	0.0	0.0	3.4M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total Debt	419.3M	386M	412.3M	366.9M	330.6M	287.5M	263.7M	208.7M	173.9M	152.7M	145M	160.9M	163.6M	170.5M	161M	155.3M	171.5M	162.1M	134.3M	133.2M
Net Debt	416.5M	381.7M	409.9M	363.1M	327.1M	283.1M	261.5M	205M	169M	148.8M	141.5M	158.3M	158.8M	167.5M	157.9M	152.8M	167.2M	158.8M	132.3M	127.4M
Shares Outstanding	17,964,223	17,964,223	17,964,223	17,964,223	17,964,223	17,964,223	17,964,223	17,964,223	17,964,223	17,964,223	17,964,223	17,964,223	17,964,223	17,964,223	17,964,223	17,964,223	17,964,223	17,964,223	17,964,223	17,964,223

SEC Filings

MSEX - Filing history and reports

Filing Type	Filing Date	Period Ending	Fiscal Year	Actions
8-K 8-K 2026 N/A	May 20, 2026	May 19, 2026	2026	View Filing
10-Q 10-Q 2026 Q1 Q1	April 30, 2026	March 31, 2026	2026	View Filing
8-K 8-K 2026 N/A	April 30, 2026	April 30, 2026	2026	View Filing
DEF 14A DEF 14A 2026 N/A	April 06, 2026	May 19, 2026	2026	View Filing
8-K 8-K 2026 N/A	March 26, 2026	March 26, 2026	2026	View Filing
8-K 8-K 2026 N/A	February 24, 2026	February 20, 2026	2026	View Filing
10-K 10-K 2025 FY FY	February 19, 2026	December 31, 2025	2025	View Filing
8-K 8-K 2026 N/A	February 19, 2026	February 19, 2026	2026	View Filing
8-K 8-K 2025 N/A	December 22, 2025	December 22, 2025	2025	View Filing
10-Q 10-Q 2025 Q3 Q3	October 31, 2025	September 30, 2025	2025	View Filing

Showing 1 to 10 of 511 filings

Related Guides

Blog Categories

Continue your MSEX research with focused valuation guides.

Fundamentals

Decode statement quality and operating durability.

Accounting

Interpret line items with cleaner analytical framing.

Forecasting

Translate historical performance into forward scenarios.

Reference

Use practical frameworks for statement-led valuation.

Research Paths

Pick your next lens

Snapshot

Start with context, operating signals, and key market metrics.

Value Model

Stress test fair value across bear, base, and bull assumptions.

Statements

Validate revenue quality, margins, and balance sheet durability.

Earnings Call

Read management commentary and compare it with reported outcomes.

Dividends

Check payout sustainability and long-term distribution behavior.

Analyst Expectations

Review consensus spread and where estimate risk is concentrated.