NASDAQ · WATER SUPPLY · LARGE CAP
Middlesex Water Company MSEX
17 fiscal years on record · USD · FY2025 reported
SEC FILINGS ONLY3 YEARS OF DIVIDEND GROWTH
Revenue · FY2025
$194.7M
▲ 1.5% vs FY2024
Dividend streak
3 yrs
Raised every year since 2023
EPS · FY25
—
Dividend / sh · FY25
$1.38
Payout · FY25
58%
ROE · FY25
9.1%
Net margin · FY25
22.0%
Dividend coverage
1.7×
Advertisement
AdSense · Leaderboard 728×90320×100
Result
USD 194.7M
Revenue, FY2025 · full 17-year series below
Revenue
Net income
22 cents of every revenue dollar became profit this year.
Per share
—
Diluted EPS, FY2025
EPS
Dividend
Earnings covered the dividend 1.7 times — the rest stayed in the company.
Profitability
9.1%
Return on equity, FY2025
ROE
Operating margin27.9%
Net margin22.0%
Return on assets3.3%
Each USD of equity produced 9 cents of profit this year.
Returned to shareholders
USD 24.9M
returned in FY2025 · dividends + net buybacks
Dividends paidUSD 24.9M
Net buybacks—
Share of profit58.2%
Consecutive raises3 years
USD 24.9M in dividends — 58% of the year's profit went back to shareholders.
Growth
+6.6% a year
revenue, compounded over five years
CAGR
3 yrs
5 yrs
10 yrs
15 yrs
Revenue
+6.3%
+6.6%
+4.4%
+4.4%
Net income
+0.3%
+2.2%
+7.9%
+7.6%
EPS, diluted
−0.4%
Dividend / share
+5.3%
Returned to shareholders
+6.2%
+6.5%
+7.1%
+5.9%
Compound annual rates per period — left blank where the series crosses a loss.
Share base
—
Shares outstanding, FY2025
Change, 5 years+7.7%
Change, 10 years+12.3%
The share count grew 8% in five years — the same company, cut into more, smaller slices.
Advertisement
AdSense · Leaderboard 728×90300×250
Balance sheet
USD 1.4B
total assets, end of FY2025
Total assetsUSD 1.4B
EquityUSD 494.0M
CashUSD 2.8M
Gross debtUSD 386.7M
Net debtUSD 383.9M
Current ratio0.45×
Net debt stands at 78% of equity.
History
17 fiscal years
Every figure from documents filed with the SEC · USD
Metric
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
Revenue $B
0.2
0.2
0.2
0.2
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
Operating income $B
0.1
0.1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
EBITDA $B
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Income tax $B
0.0
0.0
0.0
0.0
−0.0
−0.0
−0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Net income $B
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
EPS, diluted $
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
Dividend / sh $
1.38
1.31
1.26
1.18
1.11
1.04
0.98
0.91
0.86
0.81
0.78
0.76
0.75
0.74
0.73
0.72
0.71
Payout %
58
53
71
49
53
47
48
46
61
58
63
66
72
81
85
73
96
ROE %
9.1
10.2
7.7
11.0
10.2
11.1
·
·
·
·
·
5.7
5.2
4.5
·
·
·
Shares out B
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
Slide the table for earlier years · "·" marks figures not disclosed in the filing for that year.
How we verifyAUDITED
49 of 49
checks passed before publication
EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidity
Every figure was compared against the original statement: 0 failures and 0 presentation gaps.
What we don’t show
We’d rather say what’s missing than fill the gap with an estimate.
P/E rationeeds a market quote — not yet licensed
Market capitalizationneeds a market quote — not yet licensed
Dividend yieldneeds a market quote — not yet licensed
Price-to-bookneeds a market quote — not yet licensed