MSEX vs WTRG
Middlesex Water Co. and Essential Utilities, Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
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 | $2.36 | $2.20 |
| Dividend / share | $1.38 | $1.34 |
| Payout ratio | 58.2% | 60.6% |
| Free cash flow | · | · |
| 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. "·" marks a figure not available in our data.
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 | $162.4M | $2.3B |
| FY2021 | $143.1M | $1.9B |
| FY2020 | $141.6M | $1.5B |
| FY2019 | $134.6M | $889.7M |
| FY2018 | $138.1M | $838.1M |
| FY2017 | $130.8M | $809.5M |
| FY2016 | $132.9M | $819.9M |
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 |
17 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$2,279,921,000 | WTRG |
| FY2024 | −$1,894,236,000 | WTRG |
| FY2023 | −$1,887,550,000 | WTRG |
| FY2022 | −$2,125,598,000 | WTRG |
| FY2021 | −$1,735,003,000 | WTRG |
| FY2020 | −$1,321,106,000 | WTRG |
| FY2019 | −$755,094,000 | WTRG |
| FY2018 | −$700,014,000 | WTRG |
| FY2017 | −$678,750,000 | WTRG |
| FY2016 | −$686,969,000 | WTRG |
| FY2015 | −$688,179,000 | WTRG |
| FY2014 | −$662,764,000 | WTRG |
| FY2013 | −$647,047,000 | WTRG |
| FY2012 | −$640,306,000 | WTRG |
| FY2011 | −$578,608,000 | WTRG |
| FY2010 | −$551,077,000 | WTRG |
| FY2009 | −$518,654,000 | WTRG |
WTRG has reported the higher revenue in every one of these 17 fiscal years. The gap has widened since the earliest year compared.
17 of 19 comparable fiscal years — a year missing data on either side is not counted.
17 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −2.9 pp | WTRG |
| FY2024 | −5.4 pp | WTRG |
| FY2023 | −5.3 pp | WTRG |
| FY2022 | +5.8 pp | MSEX |
| FY2021 | +2.5 pp | MSEX |
| FY2020 | +7.7 pp | MSEX |
| FY2019 | −0.1 pp | WTRG |
| FY2018 | +0.6 pp | MSEX |
| FY2017 | −12.2 pp | WTRG |
| FY2016 | −11.5 pp | WTRG |
| FY2015 | −8.9 pp | WTRG |
| FY2014 | −14.2 pp | WTRG |
| FY2013 | −14.6 pp | WTRG |
| FY2012 | −13.1 pp | WTRG |
| FY2011 | −7.8 pp | WTRG |
| FY2010 | −5.0 pp | WTRG |
| FY2009 | −6.2 pp | WTRG |
The higher net margin has changed hands between MSEX and WTRG over this period.
17 of 19 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 WTRG's over the 17 comparable fiscal years — 5.1 percentage points of standard deviation against 3.9.
17 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between MSEX and WTRG over these 17 fiscal years — MSEX led in 4 and WTRG in 13.
17 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
WTRG's return on equity has been more volatile than MSEX's over the 12 comparable fiscal years — 2.7 percentage points of standard deviation against 2.4.
12 of 19 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 MSEX and WTRG over these 12 fiscal years — MSEX led in 4 and WTRG in 8.
12 of 19 comparable fiscal years — a year missing data on either side is not counted.