MSEX vs WTRG
Middlesex Water Company and Essential Utilities, Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | MSEX | WTRG |
|---|---|---|
| Revenue | $194.7M | $2.5B |
| Net income | $42.8M | $616.4M |
| Gross margin | — | — |
| Net margin | 22.0% | 24.9% |
| Return on equity | 9.1% | 9.4% |
| Diluted EPS | — | $2.20 |
| Dividend / share | $1.38 | $1.34 |
| Payout ratio | 58.2% | 60.6% |
| Free cash flow | $-15.9M | $-127.2M |
| Equity | $494.0M | $6.9B |
| Net debt / equity | 0.78× | 1.18× |
| Current ratio | 0.45× | 0.80× |
| Revenue CAGR 5y | 6.6% | 11.1% |
| Profit CAGR 5y | 2.2% | 16.7% |
WTRG bills 12.7× the revenue of MSEX, and keeps more of each dollar of revenue as profit (24.9% against 22.0%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner.
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Revenue by year
10 years side by side
| Fiscal year | MSEX | WTRG |
|---|---|---|
| FY2025 | $194.7M | $2.5B |
| FY2024 | $191.9M | $2.1B |
| FY2023 | $166.3M | $2.1B |
| FY2022 | $162.3M | $2.3B |
| FY2021 | $143.0M | $1.9B |
| FY2020 | $141.4M | $1.5B |
| FY2019 | $134.5M | $889.7M |
| FY2018 | $137.9M | $838.1M |
| FY2017 | $130.6M | $809.5M |
| FY2016 | $132.7M | $819.9M |
Net income by year
Bottom line
| Fiscal year | MSEX | WTRG |
|---|---|---|
| FY2025 | $42.8M | $616.4M |
| FY2024 | $44.4M | $595.3M |
| FY2023 | $31.5M | $498.2M |
| FY2022 | $42.4M | $465.2M |
| FY2021 | $36.5M | $431.6M |
| FY2020 | $38.4M | $284.8M |
| FY2019 | $33.9M | $224.5M |
| FY2018 | $32.5M | $192.0M |
| FY2017 | $22.8M | $239.7M |
| FY2016 | $22.7M | $234.2M |
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