MIDDLESEX WATER CO
MSEXNasdaq
$57.44
↑ +0.8%Jul 17 close · end-of-day
Price
1Y↑ +9.6%
End-of-day closes; the latest point is the live 15-min-delayed price · split & dividend adjusted · chart by TradingView
Key statistics
Market Cap
$1.1B
Enterprise Value
$1.4B
P/E
23.9
P/S
5.4
P/B
2.1
EV/EBITDA
16.3
PEG
—
FCF Yield
—
Dividend Yield
2.4%
Revenue (TTM)
$199.1M
Net Income (TTM)
$1.1M
Free Cash Flow (TTM)
—
Gross Margin
—
Operating Margin
28.1%
Net Margin
0.6%
ROE
0.2%
ROIC
5.7%
Debt / Equity
0.8
Net Cash
-$377.3M
Return 1Y
+9.6%
Company profile
Middlesex Water Company owns and operates regulated water utility and wastewater systems. The Regulated segment collects, treats, and distributes water on a retail and wholesale basis. The Non-Regulated segment provides non-regulated contract services for the operation and maintenance of municipal and private water systems in New Jersey and Delaware. The company was incorporated in 1896 and is headquartered in Iselin, New Jersey.
- CEO
- Dennis W. Doll
- Sector
- Transportation, Communications, Electric, Gas, And Sanitary Services
- Industry
- Utilities
- Employees
- 350
- Headquarters
- New Jersey
- Website
- middlesexwater.com
Management & directors
- Capko Robert JohnPAO & Controller
- Duchemin-Leslie NadinePresident, CEO
- Fullagar Robert KPresident-NJ Operations
- Ginegaw Lorrie BethVP, Human Resources
- Kooper Jay LVP, Gen. Counsel & Secretary
- Simpson Georgia MVP-IT
- Sorensen Gregory SVP, Chief Operating Officer
- Zerhouni Mohammed G.SVP, CFO and Treasurer
Roles derived from SEC Form 4 filings.
Earnings
MSEX Q1 2026 Earnings
Period ends 2026-03-31
MetricActualYoY
Revenue$48.7M↑ +10.0%
Diluted EPS$0.57↑ +7.5%
Actuals from SEC filings; YoY vs the year-ago quarter. Analyst estimates & surprise require a data feed (coming soon).
Financial statements
| Line item | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | $141.4M | $143.0M | $162.3M | $166.3M | $191.9M | $194.7M |
| Gross profit | — | — | — | — | — | — |
| Operating income | $37.4M | $33.2M | $47.3M | $39.2M | $53.2M | $54.4M |
| Net income | $38.4M | $36.50 | $42.40 | $31.50 | $44.40 | $42.80 |
| Diluted EPS | $2.18 | $2.07 | $2.39 | $1.76 | $2.47 | $2.36 |
| Operating cash flow | $53.4M | $33.0M | $61.4M | $52.8M | $58.7M | $62.6M |
| Free cash flow | -$52.3M | -$46.4M | -$30.0M | -$37.4M | -$15.9M | — |
| Gross margin | — | — | — | — | — | — |
| Operating margin | 26.5% | 23.2% | 29.2% | 23.6% | 27.7% | 27.9% |
| Net margin | 27.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Line item | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $49.1M | $55.1M | $47.1M | $44.3M | $49.3M | $54.1M | $47.0M | $48.7M |
| Gross profit | — | — | — | — | — | — | — | — |
| Operating income | $15.3M | $17.5M | $10.5M | $11.6M | $13.9M | $17.7M | $11.2M | $13.1M |
| Net income | $10.5M | $14.3M | $8.8M | $9.5M | $10.8M | $14.0M | -$34.2M | $10.6M |
| Diluted EPS | $0.59 | $0.80 | $0.49 | $0.53 | $0.60 | $0.77 | $0.46 | $0.57 |
| Operating cash flow | $11.2M | $19.5M | $21.4M | $13.8M | $18.3M | $12.0M | $18.5M | $11.7M |
| Free cash flow | -$3.1M | -$1.3M | -$3.7M | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — |
| Operating margin | 31.2% | 31.8% | 22.4% | 26.1% | 28.2% | 32.7% | 23.8% | 26.9% |
| Net margin | 21.5% | 26.0% | 18.7% | 21.4% | 21.9% | 25.8% | -72.8% | 21.8% |
Company news
Jul 16, 2026
Analyst estimates
Coming soonConsensus revenue & EPS estimates and price targets will appear here once a forward-estimates data feed is connected.
Insider transactions
BoughtSoldMonthly insider $ volume · trailing 12 months
| Date | Insider | Type | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| 2026-04-01 | Duchemin-Leslie Nadine· President, CEO | Award | 12,675 | $52.05 | $659,733.75 | filing |
| 2026-04-01 | Zerhouni Mohammed G.· SVP, CFO and Treasurer | Award | 5,927 | $52.05 | $308,500.35 | filing |
| 2026-04-01 | Sorensen Gregory S· VP, Chief Operating Officer | Award | 4,983 | $52.05 | $259,365.15 | filing |
| 2026-04-01 | Kooper Jay L· VP, Gen. Counsel & Secretary | Award | 2,597 | $52.05 | $135,173.85 | filing |
| 2026-04-01 | Simpson Georgia M· VP-IT | Award | 2,140 | $52.05 | $111,387.00 | filing |
| 2026-04-01 | Fullagar Robert K· President-NJ Operations | Award | 2,128 | $52.05 | $110,762.40 | filing |
| 2026-04-01 | Ginegaw Lorrie Beth· VP, Human Resources | Award | 2,017 | $52.05 | $104,984.85 | filing |
| 2026-04-01 | Capko Robert John· PAO & Controller | Award | 1,679 | $52.05 | $87,391.95 | filing |
| 2026-04-01 | Fullagar Robert K· President-NJ Operations | J | 886 | $52.05 | $46,116.30 | filing |
| 2026-04-01 | Bershad Joshua | Award | 865 | $52.05 | $45,023.25 | filing |
| 2026-04-01 | REINHARD WALTER G | Award | 865 | $52.05 | $45,023.25 | filing |
| 2026-04-01 | NOBLE ANN L. | Award | 865 | $52.05 | $45,023.25 | filing |
| 2026-04-01 | McKoy Vaughn L | Award | 865 | $52.05 | $45,023.25 | filing |
| 2026-04-01 | Mansue Amy B. | Award | 865 | $52.05 | $45,023.25 | filing |
| 2026-04-01 | Klein Steven M | Award | 865 | $52.05 | $45,023.25 | filing |
| 2026-04-01 | HOGLUND ROBERT N | Award | 865 | $52.05 | $45,023.25 | filing |
| 2026-04-01 | Hanemann Kim C | Award | 865 | $52.05 | $45,023.25 | filing |
| 2026-04-01 | Cosgrove James F. Jr. | Award | 865 | $52.05 | $45,023.25 | filing |
| 2026-04-01 | Ginegaw Lorrie Beth· VP, Human Resources | J | 823 | $52.05 | $42,837.15 | filing |
| 2026-04-01 | Simpson Georgia M· VP-IT | J | 759 | $52.05 | $39,505.95 | filing |
| 2026-04-01 | Kooper Jay L· VP, Gen. Counsel & Secretary | J | 759 | $52.05 | $39,505.95 | filing |
| 2026-04-01 | Fullagar Robert K· President-NJ Operations | Tax withholding | 394 | $52.05 | $20,507.70 | filing |
| 2026-04-01 | Ginegaw Lorrie Beth· VP, Human Resources | Tax withholding | 364 | $52.05 | $18,946.20 | filing |
| 2026-04-01 | Kooper Jay L· VP, Gen. Counsel & Secretary | Tax withholding | 350 | $52.05 | $18,217.50 | filing |
| 2026-04-01 | Simpson Georgia M· VP-IT | Tax withholding | 338 | $52.05 | $17,592.90 | filing |
Showing the latest 25 transactions — full history in the linked SEC filings.
Fundamentals & filings from SEC EDGAR. Prices adjusted for splits & dividends. Not investment advice.