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Discontinued — last reported Q4 '24

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Other financials

Income statement

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Revenue$48.7M+10.0%
Operating income$13.1M+13.4%
Net income$10.6M+11.9%
EPS (diluted)$0.57+7.5%

Balance sheet

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Cash & equivalents$3.7M+39.8%
Total debt$381.0M-46.5%
Total equity$501.0M+11.6%
Total assets$1.4B+8.4%

Cash flow

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Operating cash flow$11.7M-14.9%
CapEx$25.1M+47.0%

Valuation

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Market cap$1.01B+0.1%
Enterprise value$1.38B-19.3%
P/E22.9×-0.4×
P/S5.1×-0.1×

Profitability

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Operating margin28.1%0.0pp
Net margin22.1%0.0pp
FCF margin-8.3%-3.2pp

Returns & leverage

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Return on equity9.3%-0.6pp
Debt / equity0.8×-0.8×
Current ratio0.4×-0.1×

Where this comes from

Calculated from Middlesex Water Company’s reported figures.

The official record: Middlesex Water Company’s 10-K, filed February 19, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Middlesex Water Company's free cash flow?
Middlesex Water Company (MSEX) reported free cash flow of -$3.75M in Q4 2024.
How has Middlesex Water Company's free cash flow changed year-over-year?
Middlesex Water Company's free cash flow increased by 13.0% year-over-year, from -$4.31M to -$3.75M.
What is the long-term trend for Middlesex Water Company's free cash flow?
Over 3 years (2021 to 2024), Middlesex Water Company's free cash flow has grown at a -30.0% compound annual growth rate (CAGR), from -$46.35M to -$15.89M.
What does free cash flow mean?
Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and maintain or expand its capital asset base. It serves as a critical indicator of a company's ability to fund organic growth, pay down debt, or return capital to shareholders without relying on external financing.