FY2025 · ended Dec 31, 2025 · Revenue $194.69M, +1.5% YoY · Filed Feb 19, 2026
Middlesex Water Company (MSEX) files with the SEC under industry code 4941, Water Supply. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $194.7 million and net income of $42.8 million. As of Sep 30, 2026 it held $1.7 million in cash and investments and $401.0 million in total debt.
Revenue (TTM)
$212.25M
+8.9% vs year-ago TTM
Net income (TTM)
$52.01M
+20.9% vs year-ago TTM
Operating cash flow (TTM)
$69.47M
+6.0% vs year-ago TTM
Free cash flow
$-15.89M
+57.5% vs prior year
EPS (TTM)
$2.78
+16.5% vs year-ago TTM
Dividend per share
$1.38
+4.9% vs prior year
Shares outstanding
18.52M
+3.5% vs prior year
Net cash
$-399.26M
as of Sep 30, 2026
Operating margin
30.5%
FY 2026
Company profile
- Industry
- Water Supply (SIC 4941)
- Listed as
- MSEX (Nasdaq), MSEXP (OTC)
- Fiscal year ends
- December 31
- Incorporated in
- NJ
- Headquarters
- Iselin, NJ
- SEC filer status
- Large accelerated filer
- SEC CIK
- 66004
Other Water Supply companies
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $194.7M | $191.9M | $166.1M | $162.3M | $143.0M |
| Operating income | $54.4M | $53.2M | $39.2M | $47.3M | $33.2M |
| Net income | $42.8M | $44.4M | $31.5M | $42.4M | $36.5M |
| Diluted EPS | $2.36 | $2.47 | $1.76 | $2.39 | $2.07 |
| Operating cash flow | $62.6M | $58.7M | $52.8M | $61.4M | $33.0M |
| Free cash flow | — | -$15.9M | -$37.4M | -$30.0M | — |
| Total assets | $1.4B | $1.3B | $1.2B | $1.1B | $1.0B |
| Stockholders' equity | $494.0M | $445.3M | $423.0M | — | — |
| Cash and investments | $2.8M | $4.2M | $2.4M | $3.8M | $3.5M |
| Total debt | $389.1M | $363.5M | $769.4M | $363.2M | $326.3M |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 10-Q | Quarterly report | Oct 29, 2026 | Sep 30, 2026 |
| 8-K |
Current report
Results of operations
|
Oct 29, 2026 | Oct 29, 2026 |
| 10-Q | Quarterly report | Jul 30, 2026 | Jun 30, 2026 |
| 8-K |
Current report
Results of operations
|
Jul 30, 2026 | Jul 30, 2026 |
| 8-K |
Current report
Shareholder vote results
|
May 20, 2026 | May 19, 2026 |
| 10-Q | Quarterly report | Apr 30, 2026 | Mar 31, 2026 |
All 1000 Middlesex Water Company SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.