(MSEX) Middlesex Water - Overview
Exchange: NASDAQ •
Country: United States •
Currency: USD •
Type: Common Stock •
ISIN: US5966801087
Stock: Water, Wastewater, Treatment, Distribution, Services
Total Rating 39
Risk 76
Buy Signal -1.58
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 2.60% |
| Yield on Cost 5y | 2.23% |
| Yield CAGR 5y | 5.64% |
| Payout Consistency | 98.2% |
| Payout Ratio | 73.7% |
| Risk 5d forecast | |
|---|---|
| Volatility | 31.5% |
| Relative Tail Risk | -6.71% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.17 |
| Alpha | 1.32 |
| Character TTM | |
|---|---|
| Beta | -0.140 |
| Beta Downside | -0.293 |
| Drawdowns 3y | |
|---|---|
| Max DD | 45.78% |
| CAGR/Max DD | -0.30 |
Description: MSEX Middlesex Water January 20, 2026
Middlesex Water Company (NASDAQ:MSEX) operates regulated water and wastewater utilities in New Jersey and Delaware, split between a Regulated segment that delivers water and treats wastewater for residential, commercial, industrial and fire-protection customers, and a Non-Regulated segment that contracts to operate and maintain municipal and private water systems. The firm’s footprint includes the Middlesex, Tidewater, Pinelands and Southern Shores districts, and it has been in business since 1896 with headquarters in Iselin, New Jersey.
Key operational metrics that analysts watch include 2023 revenue of roughly $140 million and an adjusted operating margin near 20 %, reflecting the stable cash-flow profile typical of regulated utilities. The company’s most recent rate case in New Jersey approved a modest 4 % increase in water rates, helping to offset inflation-driven cost pressures. Sector-wide, rising population in the Northeast and heightened regulatory focus on aging water infrastructure and climate-resilience investments are primary growth drivers for firms like MSEX.
For a deeper quantitative dive, the ValueRay platform provides granular financial and operational metrics on MSEX.
Piotroski VR‑10 (Strict, 0-10) 4.5
| Net Income: 43.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -1.09 > 1.0 |
| NWC/Revenue: -35.25% < 20% (prev -15.14%; Δ -20.11% < -1%) |
| CFO/TA 0.05 > 3% & CFO 65.5m > Net Income 43.0m |
| Net Debt (412.0m) to EBITDA (92.7m): 4.44 < 3 |
| Current Ratio: 0.42 > 1.5 & < 3 |
| Outstanding Shares: last quarter (18.2m) vs 12m ago 1.13% < -2% |
| Gross Margin: 48.89% > 18% (prev 0.53%; Δ 4837 % > 0.5%) |
| Asset Turnover: 15.15% > 50% (prev 14.91%; Δ 0.24% > 0%) |
| Interest Coverage Ratio: 4.55 > 6 (EBITDA TTM 92.7m / Interest Expense TTM 13.4m) |
Altman Z'' 1.09
| A: -0.05 (Total Current Assets 49.6m - Total Current Liabilities 118.3m) / Total Assets 1.34b |
| B: 0.16 (Retained Earnings 212.9m / Total Assets 1.34b) |
| C: 0.05 (EBIT TTM 60.9m / Avg Total Assets 1.29b) |
| D: 0.56 (Book Value of Equity 482.5m / Total Liabilities 859.4m) |
| Altman-Z'' Score: 1.09 = BB |
Beneish M -3.02
| DSRI: 0.88 (Receivables 33.7m/36.1m, Revenue 194.8m/183.4m) |
| GMI: 1.08 (GM 48.89% / 52.71%) |
| AQI: 1.01 (AQ_t 0.96 / AQ_t-1 0.96) |
| SGI: 1.06 (Revenue 194.8m / 183.4m) |
| TATA: -0.02 (NI 43.0m - CFO 65.5m) / TA 1.34b) |
| Beneish M-Score: -3.02 (Cap -4..+1) = AA |
What is the price of MSEX shares?
As of February 08, 2026, the stock is trading at USD 51.24 with a total of 122,028 shares traded.
Over the past week, the price has changed by -2.18%, over one month by +0.59%, over three months by -2.30% and over the past year by +4.21%.
Over the past week, the price has changed by -2.18%, over one month by +0.59%, over three months by -2.30% and over the past year by +4.21%.
Is MSEX a buy, sell or hold?
Middlesex Water has received a consensus analysts rating of 3.33.
Therefor, it is recommend to hold MSEX.
- StrongBuy: 1
- Buy: 0
- Hold: 1
- Sell: 1
- StrongSell: 0
What are the forecasts/targets for the MSEX price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 56 | 9.3% |
| Analysts Target Price | 56 | 9.3% |
| ValueRay Target Price | 48.3 | -5.8% |
MSEX Fundamental Data Overview February 03, 2026
P/E Trailing = 21.7344
P/E Forward = 28.5714
P/S = 4.9303
P/B = 1.9757
P/EG = 10.95
Revenue TTM = 194.8m USD
EBIT TTM = 60.9m USD
EBITDA TTM = 92.7m USD
Long Term Debt = 350.2m USD (from longTermDebt, last quarter)
Short Term Debt = 63.2m USD (from shortTermDebt, last quarter)
Debt = 415.4m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 412.0m USD (from netDebt column, last quarter)
Enterprise Value = 1.37b USD (960.5m + Debt 415.4m - CCE 3.38m)
Interest Coverage Ratio = 4.55 (Ebit TTM 60.9m / Interest Expense TTM 13.4m)
EV/FCF = 63.91x (Enterprise Value 1.37b / FCF TTM 21.5m)
FCF Yield = 1.56% (FCF TTM 21.5m / Enterprise Value 1.37b)
FCF Margin = 11.02% (FCF TTM 21.5m / Revenue TTM 194.8m)
Net Margin = 22.08% (Net Income TTM 43.0m / Revenue TTM 194.8m)
Gross Margin = 48.89% ((Revenue TTM 194.8m - Cost of Revenue TTM 99.6m) / Revenue TTM)
Gross Margin QoQ = 43.28% (prev 53.23%)
Tobins Q-Ratio = 1.02 (Enterprise Value 1.37b / Total Assets 1.34b)
Interest Expense / Debt = 1.01% (Interest Expense 4.20m / Debt 415.4m)
Taxrate = 9.30% (1.43m / 15.4m)
NOPAT = 55.2m (EBIT 60.9m * (1 - 9.30%))
Current Ratio = 0.42 (Total Current Assets 49.6m / Total Current Liabilities 118.3m)
Debt / Equity = 0.86 (Debt 415.4m / totalStockholderEquity, last quarter 482.5m)
Debt / EBITDA = 4.44 (Net Debt 412.0m / EBITDA 92.7m)
Debt / FCF = 19.18 (Net Debt 412.0m / FCF TTM 21.5m)
Total Stockholder Equity = 459.4m (last 4 quarters mean from totalStockholderEquity)
RoA = 3.35% (Net Income 43.0m / Total Assets 1.34b)
RoE = 9.36% (Net Income TTM 43.0m / Total Stockholder Equity 459.4m)
RoCE = 7.52% (EBIT 60.9m / Capital Employed (Equity 459.4m + L.T.Debt 350.2m))
RoIC = 6.43% (NOPAT 55.2m / Invested Capital 859.5m)
WACC = 4.05% (E(960.5m)/V(1.38b) * Re(5.40%) + D(415.4m)/V(1.38b) * Rd(1.01%) * (1-Tc(0.09)))
Discount Rate = 5.40% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 100.0 | Cagr: 0.93%
[DCF Debug] Terminal Value 82.31% ; FCFF base≈26.1m ; Y1≈18.8m ; Y5≈10.4m
Fair Price DCF = N/A (negative equity: EV 324.1m - Net Debt 412.0m = -87.9m; debt exceeds intrinsic value)
EPS Correlation: -18.66 | EPS CAGR: -49.80% | SUE: -3.85 | # QB: 0
Revenue Correlation: 75.75 | Revenue CAGR: 13.16% | SUE: -0.53 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.53 | Chg30d=-0.010 | Revisions Net=+1 | Analysts=1
EPS next Year (2026-12-31): EPS=2.63 | Chg30d=+0.014 | Revisions Net=+1 | Growth EPS=+11.3% | Growth Revenue=+9.0%
P/E Forward = 28.5714
P/S = 4.9303
P/B = 1.9757
P/EG = 10.95
Revenue TTM = 194.8m USD
EBIT TTM = 60.9m USD
EBITDA TTM = 92.7m USD
Long Term Debt = 350.2m USD (from longTermDebt, last quarter)
Short Term Debt = 63.2m USD (from shortTermDebt, last quarter)
Debt = 415.4m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 412.0m USD (from netDebt column, last quarter)
Enterprise Value = 1.37b USD (960.5m + Debt 415.4m - CCE 3.38m)
Interest Coverage Ratio = 4.55 (Ebit TTM 60.9m / Interest Expense TTM 13.4m)
EV/FCF = 63.91x (Enterprise Value 1.37b / FCF TTM 21.5m)
FCF Yield = 1.56% (FCF TTM 21.5m / Enterprise Value 1.37b)
FCF Margin = 11.02% (FCF TTM 21.5m / Revenue TTM 194.8m)
Net Margin = 22.08% (Net Income TTM 43.0m / Revenue TTM 194.8m)
Gross Margin = 48.89% ((Revenue TTM 194.8m - Cost of Revenue TTM 99.6m) / Revenue TTM)
Gross Margin QoQ = 43.28% (prev 53.23%)
Tobins Q-Ratio = 1.02 (Enterprise Value 1.37b / Total Assets 1.34b)
Interest Expense / Debt = 1.01% (Interest Expense 4.20m / Debt 415.4m)
Taxrate = 9.30% (1.43m / 15.4m)
NOPAT = 55.2m (EBIT 60.9m * (1 - 9.30%))
Current Ratio = 0.42 (Total Current Assets 49.6m / Total Current Liabilities 118.3m)
Debt / Equity = 0.86 (Debt 415.4m / totalStockholderEquity, last quarter 482.5m)
Debt / EBITDA = 4.44 (Net Debt 412.0m / EBITDA 92.7m)
Debt / FCF = 19.18 (Net Debt 412.0m / FCF TTM 21.5m)
Total Stockholder Equity = 459.4m (last 4 quarters mean from totalStockholderEquity)
RoA = 3.35% (Net Income 43.0m / Total Assets 1.34b)
RoE = 9.36% (Net Income TTM 43.0m / Total Stockholder Equity 459.4m)
RoCE = 7.52% (EBIT 60.9m / Capital Employed (Equity 459.4m + L.T.Debt 350.2m))
RoIC = 6.43% (NOPAT 55.2m / Invested Capital 859.5m)
WACC = 4.05% (E(960.5m)/V(1.38b) * Re(5.40%) + D(415.4m)/V(1.38b) * Rd(1.01%) * (1-Tc(0.09)))
Discount Rate = 5.40% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 100.0 | Cagr: 0.93%
[DCF Debug] Terminal Value 82.31% ; FCFF base≈26.1m ; Y1≈18.8m ; Y5≈10.4m
Fair Price DCF = N/A (negative equity: EV 324.1m - Net Debt 412.0m = -87.9m; debt exceeds intrinsic value)
EPS Correlation: -18.66 | EPS CAGR: -49.80% | SUE: -3.85 | # QB: 0
Revenue Correlation: 75.75 | Revenue CAGR: 13.16% | SUE: -0.53 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.53 | Chg30d=-0.010 | Revisions Net=+1 | Analysts=1
EPS next Year (2026-12-31): EPS=2.63 | Chg30d=+0.014 | Revisions Net=+1 | Growth EPS=+11.3% | Growth Revenue=+9.0%