# Middlesex Water Company (MSEX)

- Sector: Utilities · Industry: Utilities Regulated Water
- SEC CIK: 0000066004 ([filings on EDGAR](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000066004))
- Full page: https://inspectstocks.com/stocks/msex
- Data as of: price 2026-09-29; newest filing used 2026-07-30; latest fiscal period ended 2026-06-30

## Grade

**B** on the growth-and-cash rubric, 4 of 5 checks passed.

| Check | Result | Now | Before |
| --- | --- | --- | --- |
| Revenue growing overall | passed | $206.1M | $167.4M |
| Revenue growing recently | passed | $206.1M | $194.7M |
| Free cash flow positive | failed | -$15.9M |  |
| Free cash flow growing overall | passed | -$15.9M | -$46.4M |
| Free cash flow growing recently | passed | -$15.9M | -$37.4M |

Business quality (the + / − mark): 4 of 6 checks passed.

| Check | Result | Now | Before |
| --- | --- | --- | --- |
| Profitable | passed | 23.3% |  |
| Healthy profit margin | passed | 23.3% |  |
| Strong operating margin | passed | 29.2% |  |
| Good return on equity | failed | 9.7% |  |
| Debt under control | passed | 0.79 |  |
| Turns sales into cash | failed | -7.7% |  |

How the grade works: the letter counts failed checks (none → A, one → B, two → C, three → D, four or more → F). It is built from SEC filings only — the share price never enters it — and describes the business, not whether the stock is worth buying.

## Key figures

In US dollars, as filed.

| Measure | Value |
| --- | --- |
| Revenue, trailing twelve months | $206.1M |
| Net income, trailing twelve months | $47.9M |
| Free cash flow, trailing twelve months | -$15.9M |
| Net margin | 23.3% |
| Operating margin | 29.2% |
| Return on equity | 9.7% |
| Debt to equity | 0.79 |
| Diluted EPS, trailing twelve months | $2.59 |
| Share price | $53.21 |
| Market value | $1B |
| Price / earnings | 20.5x |
| Price / sales | 4.9x |

## More on this company

- [Overview](https://inspectstocks.com/stocks/msex)
- [Financial statements](https://inspectstocks.com/stocks/msex/financials)
- [Competitors](https://inspectstocks.com/stocks/msex/peers)
- [Earnings](https://inspectstocks.com/stocks/msex/earnings)

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Source: InspectStocks, built from the company’s own SEC filings. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.