HTO vs MSEX
H2O America and Middlesex Water Co., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | HTO | MSEX |
|---|---|---|
| Revenue | $805.6M | $194.7M |
| Net income | $102.6M | $42.8M |
| Gross margin | · | · |
| Net margin | 12.7% | 22.0% |
| Return on equity | 7.1% | 9.1% |
| Diluted EPS | $2.92 | $2.36 |
| Dividend / share | $1.68 | $1.38 |
| Payout ratio | 57.2% | 58.2% |
| Free cash flow | · | · |
| Equity | $1.5B | $494.0M |
| Net debt / equity | 1.21× | 0.78× |
| Current ratio | 0.70× | 0.45× |
| Revenue CAGR 5y | 7.4% | 6.6% |
| Profit CAGR 5y | 10.8% | 2.2% |
HTO bills 4.1× the revenue of MSEX, and MSEX keeps more of each dollar of revenue as profit (22.0% against 12.7%).
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 | HTO | MSEX |
|---|---|---|
| FY2025 | $805.6M | $194.7M |
| FY2024 | $748.4M | $191.9M |
| FY2023 | $678.2M | $166.3M |
| FY2022 | $620.7M | $162.4M |
| FY2021 | $573.7M | $143.1M |
| FY2020 | $564.5M | $141.6M |
| FY2019 | $447.7M | $134.6M |
| FY2018 | $397.7M | $138.1M |
| FY2017 | $389.2M | $130.8M |
| FY2016 | $339.7M | $132.9M |
Bottom line
| Fiscal year | HTO | MSEX |
|---|---|---|
| FY2025 | $102.6M | $42.8M |
| FY2024 | $94.0M | $44.4M |
| FY2023 | $85.0M | $31.5M |
| FY2022 | $73.8M | $42.4M |
| FY2021 | $60.5M | $36.5M |
| FY2020 | $61.5M | $38.4M |
| FY2019 | $23.4M | $33.9M |
| FY2018 | $38.8M | $32.5M |
| FY2017 | $59.2M | $22.8M |
| FY2016 | $52.8M | $22.7M |
10 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$610,900,000 | HTO |
| FY2024 | +$556,562,000 | HTO |
| FY2023 | +$511,894,000 | HTO |
| FY2022 | +$458,264,000 | HTO |
| FY2021 | +$430,545,000 | HTO |
| FY2020 | +$422,934,000 | HTO |
| FY2019 | +$313,122,000 | HTO |
| FY2018 | +$259,622,000 | HTO |
| FY2017 | +$258,450,000 | HTO |
| FY2016 | +$206,800,000 | HTO |
HTO has reported the higher revenue in every one of these 10 fiscal years. The gap has widened since the earliest year compared.
10 of 17 comparable fiscal years — a year missing data on either side is not counted.
10 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −9.3 pp | MSEX |
| FY2024 | −10.6 pp | MSEX |
| FY2023 | −6.4 pp | MSEX |
| FY2022 | −14.2 pp | MSEX |
| FY2021 | −15.0 pp | MSEX |
| FY2020 | −16.2 pp | MSEX |
| FY2019 | −19.9 pp | MSEX |
| FY2018 | −13.8 pp | MSEX |
| FY2017 | −1.7 pp | MSEX |
| FY2016 | −1.6 pp | MSEX |
MSEX has kept the higher net margin in every one of these 10 fiscal years.
10 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 HTO's over the 10 comparable fiscal years — 3.5 percentage points of standard deviation against 2.8.
10 of 17 comparable fiscal years — a year missing data on either side is not counted.
Year by year
MSEX led in net margin in every one of the 10 comparable fiscal years — a structural lead, not a recent swing.
10 of 17 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
MSEX's return on equity has been more volatile than HTO's over the 12 comparable fiscal years — 2.4 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 HTO and MSEX over these 12 fiscal years — HTO led in 5 and MSEX in 7.
12 of 17 comparable fiscal years — a year missing data on either side is not counted.