CWCO vs MSEX
Consolidated Water Co. Ltd. and Middlesex Water Co., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | CWCO | MSEX |
|---|---|---|
| Revenue | $132.1M | $194.7M |
| Net income | $18.3M | $42.8M |
| Gross margin | 36.6% | · |
| Net margin | 14.3% | 22.0% |
| Return on equity | 8.5% | 9.1% |
| Diluted EPS | $1.14 | $2.36 |
| Dividend / share | $0.53 | $1.38 |
| Payout ratio | 43.3% | 58.2% |
| Free cash flow | $33.2M | · |
| Equity | $221.7M | $494.0M |
| Net debt / equity | −0.56× | 0.78× |
| Current ratio | 6.12× | 0.45× |
| Revenue CAGR 5y | 12.7% | 6.6% |
| Profit CAGR 5y | 37.6% | 2.2% |
MSEX bills 1.5× the revenue of CWCO, and keeps more of each dollar of revenue as profit (22.0% against 14.3%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | CWCO | MSEX |
|---|---|---|
| FY2025 | $132.1M | $194.7M |
| FY2024 | $134.0M | $191.9M |
| FY2023 | $180.2M | $166.3M |
| FY2022 | $94.1M | $162.4M |
| FY2021 | $66.9M | $143.1M |
| FY2020 | $72.6M | $141.6M |
| FY2019 | $68.8M | $134.6M |
| FY2018 | $65.7M | $138.1M |
| FY2017 | $59.4M | $130.8M |
| FY2016 | $57.9M | $132.9M |
Bottom line
| Fiscal year | CWCO | MSEX |
|---|---|---|
| FY2025 | $18.3M | $42.8M |
| FY2024 | $28.2M | $44.4M |
| FY2023 | $29.6M | $31.5M |
| FY2022 | $5.9M | $42.4M |
| FY2021 | $875,579 | $36.5M |
| FY2020 | $3.7M | $38.4M |
| FY2019 | $12.2M | $33.9M |
| FY2018 | $11.3M | $32.5M |
| FY2017 | $6.1M | $22.8M |
| FY2016 | $4.0M | $22.7M |
17 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$62,620,632 | MSEX |
| FY2024 | −$57,910,367 | MSEX |
| FY2023 | +$13,937,233 | CWCO |
| FY2022 | −$68,329,028 | MSEX |
| FY2021 | −$76,277,498 | MSEX |
| FY2020 | −$68,963,874 | MSEX |
| FY2019 | −$65,804,349 | MSEX |
| FY2018 | −$72,357,143 | MSEX |
| FY2017 | −$71,407,978 | MSEX |
| FY2016 | −$75,030,293 | MSEX |
| FY2015 | −$68,908,798 | MSEX |
| FY2014 | −$51,579,922 | MSEX |
| FY2013 | −$51,023,869 | MSEX |
| FY2012 | −$44,928,298 | MSEX |
| FY2011 | −$46,914,508 | MSEX |
| FY2010 | −$52,026,446 | MSEX |
| FY2009 | −$33,223,483 | MSEX |
The higher-revenue side has changed between CWCO and MSEX over this period. The gap has widened since the earliest year compared.
17 of 17 comparable fiscal years — a year missing data on either side is not counted.
15 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −7.7 pp | MSEX |
| FY2022 | −18.7 pp | MSEX |
| FY2021 | −23.3 pp | MSEX |
| FY2020 | −21.0 pp | MSEX |
| FY2019 | −5.2 pp | MSEX |
| FY2018 | −5.3 pp | MSEX |
| FY2017 | −7.8 pp | MSEX |
| FY2016 | −12.3 pp | MSEX |
| FY2015 | −2.0 pp | MSEX |
| FY2014 | −5.4 pp | MSEX |
| FY2013 | −0.1 pp | MSEX |
| FY2012 | +1.7 pp | CWCO |
| FY2011 | −1.3 pp | MSEX |
| FY2010 | −1.2 pp | MSEX |
| FY2009 | +0.4 pp | CWCO |
The higher net margin has changed hands between CWCO and MSEX over this period.
15 of 17 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
MSEX's net margin has been more volatile than CWCO's over the 15 comparable fiscal years — 5.4 percentage points of standard deviation against 4.7.
15 of 17 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between CWCO and MSEX over these 15 fiscal years — CWCO led in 2 and MSEX in 13.
15 of 17 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
CWCO's return on equity has been more volatile than MSEX's over the 12 comparable fiscal years — 4.6 percentage points of standard deviation against 2.4.
12 of 17 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between CWCO and MSEX over these 12 fiscal years — CWCO led in 5 and MSEX in 7.
12 of 17 comparable fiscal years — a year missing data on either side is not counted.