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Middlesex Water Company MSEX Regulated — Depreciation

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Non – Regulated
$73K+15.9%

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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%
Free cash flow-$3.7M+13.0%

Valuation

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Market cap$1.1B+14.0%
Enterprise value$1.47B-11.7%
P/E25×+2.8×
P/S5.5×+0.6×

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

Reported directly by Middlesex Water Company in its filing.

Tagged under the XBRL concept us-gaap:Depreciation.

The source filing: Middlesex Water Company’s 10-Q, filed April 30, 2026.

Filed
Apr 30, 2026, 4:10 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001628280-26-028887
Line itemThree months ended March 31, 2026Three months ended March 31, 2025
Non – Regulated68$58
Consolidated Other Taxes$5,564$5,108
Depreciation:
Regulated$6,963$6,464
Non – Regulated73$63
Consolidated Depreciation$7,036$6,527
Operating Income:
Regulated$12,512$10,701

Item 1. Financial Statements (Unaudited):

FAQ

What is Middlesex Water Company's regulated — depreciation?
Middlesex Water Company (MSEX) reported regulated — depreciation of $6.96M in Q1 2026.
How has Middlesex Water Company's regulated — depreciation changed year-over-year?
Middlesex Water Company's regulated — depreciation increased by 7.7% year-over-year, from $6.46M to $6.96M.
What is the long-term trend for Middlesex Water Company's regulated — depreciation?
Over 3 years (2022 to 2025), Middlesex Water Company's regulated — depreciation has grown at a 5.6% compound annual growth rate (CAGR), from $22.78M to $26.84M.
What does regulated — depreciation mean?
Reflects the systematic allocation of the cost of tangible utility assets, such as pipelines and treatment facilities, over their useful lives. High depreciation levels indicate significant capital investment in infrastructure, which is a hallmark of capital-intensive utility operations.

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