Middlesex Water Company
MSEXUtilitiesNASDAQUtilities - Regulated Water · Last scanned May 28, 2026
Scan Results
Daily timeframe1 of 4 indicators bullish as of May 27
Part of the utilities sector, Middlesex Water Company (MSEX) is listed under Utilities - Regulated Water. With a market capitalization of $980.8M, it sits in small-cap territory. It operates in two segments, Regulated and Non-Regulated.
Market Cap
$980.8M
Beta
0.78
P/E (TTM)
21.94
P/E (Fwd)
17.61
EPS (TTM)
$2.40
EPS (Fwd)
$2.99
ROE
9.2%
ROA
2.8%
Cash
$2.0M
Total Debt
$428.0M
Free CF
-$30.4M
52W Change
-8.4%
Annual Financials
Cash vs Debt
On the balance sheet, MSEX has $2.0M in cash with $428.0M in obligations. The ability to service this debt comfortably depends on continued operational cash generation. Free cash flow is running at -$30.4M, which bears watching. Negative free cash flow can be acceptable during heavy investment periods but needs to improve over time. ROE of 9.2% points to decent capital efficiency, indicating how much profit the company produces per dollar of shareholder equity. ROA of 2.8% is on the lower side, which is common in asset-heavy industries. Revenue has been uneven over recent years, ranging from $162.4M to $194.7M.
The debt-to-cash ratio suggests meaningful leverage on the balance sheet, a factor worth monitoring if credit conditions tighten. Negative free cash flow means the company is currently spending more than it generates, which may require future fundraising or debt if the trend continues. It is important to consider these factors alongside broader market conditions and individual financial goals when reviewing MSEX.