MSEX - NASDAQ
Middlesex Water Company
$52.38
+0.87%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.
At a Glance
Live SnapshotMiddlesex Water Company Profit Bridge
Profitability Analysis
Gross Margin
Strong gross margins indicate healthy pricing and efficient production or service delivery.
Operating Margin
Outstanding operational efficiency. The company generates substantial profit from core operations.
Net Profit Margin
Exceptional profitability. The company converts a significant portion of revenue to bottom-line earnings.
Effective Tax Rate
Below-average tax rate suggests effective tax planning, favorable jurisdictions, or tax credits.
Profitability Insight
Efficient profit conversion: Minimal margin compression from gross to net indicates lean operations and favorable tax/interest environment.
Middlesex Water Company Income Statement
MSEX • NASDAQ
| Middlesex Water Company Income Statement | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
REVENUE | ||||||||||||||||||||
194.7M | 191.9M | 166.3M | 162.4M | 143.1M | 141.6M | 134.6M | 138.1M | 130.8M | 132.9M | 126M | 117.1M | 114.8M | 110.4M | 102.1M | 102.7M | 91.2M | 91M | 86.1M | 81.1M | |
GROSS PROFIT | ||||||||||||||||||||
(118.4M) | (92.4M) | (83.1M) | (79.1M) | (73.7M) | (70.8M) | (68M) | (71.6M) | (64.7M) | (65.5M) | (65.2M) | (59.1M) | (60.7M) | (60.5M) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | |
76.3M | 99.5M | 83.2M | 83.3M | 69.5M | 70.8M | 66.6M | 66.5M | 66.1M | 67.4M | 60.9M | 58M | 54.1M | 49.9M | 102.1M | 102.7M | 91.2M | 91M | 86.1M | 81.1M | |
OPERATING INCOME | ||||||||||||||||||||
(21.9M) | (46.3M) | (43.9M) | (36M) | (36.3M) | (33.4M) | (31.1M) | (29.4M) | (27.5M) | (26.7M) | (25M) | (23.6M) | (23.1M) | (22.3M) | (21.2M) | (20.7M) | (71.1M) | (67M) | (63.4M) | (59.7M) | |
54.4M | 53.2M | 39.2M | 47.3M | 33.2M | 37.4M | 35.5M | 37.1M | 37.8M | 40.3M | 35.8M | 34.4M | 31M | 27.6M | 24.2M | 26.6M | 20.2M | 24M | 22.7M | 21.3M | |
PRE-TAX INCOME | ||||||||||||||||||||
(14.3M) | (12.8M) | (10.7M) | (7.1M) | (5.5M) | (3.5M) | (4.1M) | (5.4M) | (4.8M) | (4.7M) | (5.2M) | (5.3M) | (5.5M) | (6.2M) | (5.6M) | (6M) | (6.8M) | (7.1M) | (0.0) | (0.0) | |
-14.3M | -12.8M | -10.7M | -7.1M | -5.5M | -3.5M | -4.1M | -5.4M | -4.8M | -4.7M | -5.2M | -5.3M | -5.5M | -6.2M | -5.6M | -6M | -6.8M | -7.1M | 0.0 | 0.0 | |
(21.9M) | (46.3M) | (43.9M) | (36M) | (36.3M) | (33.4M) | (31.1M) | (29.4M) | (27.5M) | (26.7M) | (25M) | (23.6M) | (23.1M) | (22.3M) | (21.2M) | (20.7M) | (71.1M) | (67M) | (63.4M) | (59.7M) | |
-6.7M | -2M | -6.7M | -1.7M | -2.2M | -3.1M | -4.8M | -3.8M | -3.9M | -6.2M | -5.3M | -6M | -5.7M | -5.9M | -4.2M | -5.5M | -5M | -5.8M | -5.1M | -6.2M | |
47.6M | 51.3M | 32.6M | 45.7M | 31.1M | 34.3M | 30.7M | 33.4M | 33.9M | 34.5M | 30.6M | 28.4M | 25.3M | 21.8M | 20M | 21.1M | 15.1M | 18.3M | 17.6M | 15.1M | |
NET INCOME | ||||||||||||||||||||
(4.8M) | (6.9M) | (1M) | (3.2M) | -5.5M | -4.1M | -3.1M | (924K) | (11.1M) | (11.7M) | (10.6M) | (9.9M) | (8.6M) | (7.4M) | (6.5M) | (6.8M) | (5.2M) | (6.1M) | (5.7M) | (5M) | |
42.8M | 44.4M | 31.5M | 42.4M | 36.5M | 38.4M | 33.9M | 32.5M | 22.8M | 22.7M | 20M | 18.4M | 16.6M | 14.4M | 13.4M | 14.3M | 10M | 12.2M | 11.8M | 10M |
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 | |
10-Q 10-Q 2026 Q1 Q1 | April 30, 2026 | March 31, 2026 | 2026 | |
8-K 8-K 2026 N/A | April 30, 2026 | April 30, 2026 | 2026 | |
DEF 14A DEF 14A 2026 N/A | April 06, 2026 | May 19, 2026 | 2026 | |
8-K 8-K 2026 N/A | March 26, 2026 | March 26, 2026 | 2026 | |
8-K 8-K 2026 N/A | February 24, 2026 | February 20, 2026 | 2026 | |
10-K 10-K 2025 FY FY | February 19, 2026 | December 31, 2025 | 2025 | |
8-K 8-K 2026 N/A | February 19, 2026 | February 19, 2026 | 2026 | |
8-K 8-K 2025 N/A | December 22, 2025 | December 22, 2025 | 2025 | |
10-Q 10-Q 2025 Q3 Q3 | October 31, 2025 | September 30, 2025 | 2025 |
Related Guides
Continue your MSEX research with focused valuation guides.
Research Paths
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.