MSEX: Middlesex Water Co Financial Statements
Balance sheet, income statement, and cash flow statements for Middlesex Water Co (MSEX).
$939.72M Market Cap.
MSEX Market Cap. (MRY)
MSEX Shares Outstanding (MRY)
MSEX Assets (MRY)
Total Assets
$1.26B
Total Liabilities
$809.91M
Total Investments
$0
MSEX Income (MRY)
Revenue
$191.88M
Net Income
$44.35M
Operating Expense
$24.43M
MSEX Cash Flow (MRY)
CF Operations
$58.73M
CF Investing
-$74.62M
CF Financing
$17.73M
MSEX Balance Sheet (MRY)
Metric | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
Total Assets | $1,255,174,000 (1.55%) | $1,236,052,000 (15.04%) | $1,074,450,000 (5.34%) | $1,020,015,000 (4.46%) |
Assets Current | $42,973,000 (-60.41%) | $108,536,000 (190.93%) | $37,306,000 (8.59%) | $34,355,000 (0.68%) |
Assets Non-Current | $1,212,201,000 (7.51%) | $1,127,516,000 (8.71%) | $1,037,144,000 (5.22%) | $985,660,000 (4.60%) |
Goodwill & Intangible Assets | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Shareholders Equity | $445,263,000 (5.27%) | $422,991,000 (5.66%) | $400,328,000 (8.87%) | $367,726,000 (6.22%) |
Property Plant & Equipment Net | $1,057,939,000 (5.63%) | $1,001,527,000 (8.35%) | $924,377,000 (6.27%) | $869,871,000 (8.49%) |
Cash & Equivalents | $4,226,000 (76.82%) | $2,390,000 (-37.57%) | $3,828,000 (8.35%) | $3,533,000 (-66.04%) |
Accumulated Other Comprehensive Income | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Deferred Revenue | $1,476,000 (6.19%) | $1,390,000 (1.83%) | $1,365,000 (2.63%) | $1,330,000 (5.98%) |
Total Investments | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Investments Current | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Investments Non-Current | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Inventory | $6,719,000 (-3.63%) | $6,972,000 (12.87%) | $6,177,000 (15.29%) | $5,358,000 (4.81%) |
Trade & Non-Trade Receivables | $29,606,000 (-69.59%) | $97,341,000 (294.46%) | $24,677,000 (9.27%) | $22,584,000 (4.39%) |
Trade & Non-Trade Payables | $28,050,000 (-17.15%) | $33,855,000 (36.25%) | $24,847,000 (17.62%) | $21,125,000 (-30.61%) |
Accumulated Retained Earnings (Deficit) | $197,061,000 (11.82%) | $176,227,000 (5.35%) | $167,274,000 (14.72%) | $145,807,000 (13.24%) |
Tax Assets | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Tax Liabilities | $113,211,000 (14.04%) | $99,271,000 (10.37%) | $89,945,000 (15.14%) | $78,121,000 (9.36%) |
Total Debt | $385,965,000 (-6.25%) | $411,706,000 (12.20%) | $366,948,000 (10.99%) | $330,618,000 (14.98%) |
Debt Current | $30,711,000 (-39.17%) | $50,490,000 (-30.80%) | $72,962,000 (269.78%) | $19,731,000 (113.19%) |
Debt Non-Current | $355,254,000 (-1.65%) | $361,216,000 (22.87%) | $293,986,000 (-5.44%) | $310,887,000 (11.71%) |
Total Liabilities | $809,911,000 (-0.39%) | $813,061,000 (20.61%) | $674,122,000 (3.35%) | $652,289,000 (3.49%) |
Liabilities Current | $82,888,000 (-20.17%) | $103,829,000 (-11.90%) | $117,859,000 (108.16%) | $56,619,000 (-0.40%) |
Liabilities Non-Current | $727,023,000 (2.51%) | $709,232,000 (27.50%) | $556,263,000 (-6.62%) | $595,670,000 (3.88%) |
MSEX Income Statement (MRY)
Metric | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
Revenues | $191,877,000 (15.40%) | $166,274,000 (2.36%) | $162,434,000 (13.48%) | $143,141,000 (1.09%) |
Cost of Revenue | $114,237,000 (12.15%) | $101,857,000 (4.68%) | $97,304,000 (9.55%) | $88,821,000 (3.64%) |
Selling General & Administrative Expense | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Research & Development Expense | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Operating Expenses | $24,430,000 (-3.03%) | $25,194,000 (9.40%) | $23,029,000 (9.10%) | $21,109,000 (14.28%) |
Interest Expense | $14,023,000 (6.70%) | $13,143,000 (40.31%) | $9,367,000 (15.44%) | $8,114,000 (8.29%) |
Income Tax Expense | $6,905,000 (563.30%) | $1,041,000 (-67.87%) | $3,240,000 (159.04%) | -$5,488,000 (-33.24%) |
Net Loss Income from Discontinued Operations | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Consolidated Income | $44,351,000 (40.69%) | $31,524,000 (-25.70%) | $42,429,000 (16.11%) | $36,543,000 (-4.90%) |
Net Income to Non-Controlling Interests | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Net Income | $44,351,000 (40.69%) | $31,524,000 (-25.70%) | $42,429,000 (16.11%) | $36,543,000 (-4.90%) |
Preferred Dividends Income Statement Impact | $112,000 (-6.67%) | $120,000 (0.00%) | $120,000 (0.00%) | $120,000 (0.00%) |
Net Income Common Stock | $44,239,000 (40.87%) | $31,404,000 (-25.77%) | $42,309,000 (16.16%) | $36,423,000 (-4.91%) |
Weighted Average Shares | $17,842,000 (0.62%) | $17,732,000 (0.77%) | $17,597,000 (0.60%) | $17,492,000 (0.19%) |
Weighted Average Shares Diluted | $17,946,000 (0.55%) | $17,847,000 (0.76%) | $17,712,000 (0.60%) | $17,607,000 (0.19%) |
Earning Before Interest & Taxes (EBIT) | $65,279,000 (42.82%) | $45,708,000 (-16.95%) | $55,036,000 (40.51%) | $39,169,000 (-6.29%) |
Gross Profit | $77,640,000 (20.53%) | $64,417,000 (-1.09%) | $65,130,000 (19.90%) | $54,320,000 (-2.81%) |
Operating Income | $53,210,000 (35.66%) | $39,223,000 (-6.84%) | $42,101,000 (26.77%) | $33,211,000 (-11.25%) |
MSEX Cash Flow Statement (MRY)
Metric | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
Net Cash Flow from Investing | -$74,622,000 (17.25%) | -$90,179,000 (-2.23%) | -$88,213,000 (-11.13%) | -$79,378,000 (24.84%) |
Net Cash Flow from Financing | $17,728,000 (-50.70%) | $35,959,000 (32.46%) | $27,147,000 (-31.24%) | $39,479,000 (144.16%) |
Net Cash Flow from Operations | $58,730,000 (11.27%) | $52,782,000 (-13.98%) | $61,361,000 (85.78%) | $33,028,000 (-38.10%) |
Net Cash Flow / Change in Cash & Cash Equivalents | $1,836,000 (227.68%) | -$1,438,000 (-587.46%) | $295,000 (104.29%) | -$6,871,000 (80.96%) |
Net Cash Flow - Business Acquisitions and Disposals | $0 (0%) | $0 (0%) | $3,122,000 (0%) | $0 (0%) |
Net Cash Flow - Investment Acquisitions and Disposals | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Capital Expenditure | -$74,622,000 (17.25%) | -$90,179,000 (1.27%) | -$91,335,000 (-15.06%) | -$79,378,000 (24.84%) |
Issuance (Repayment) of Debt Securities | -$25,100,000 (-155.05%) | $45,599,000 (20.83%) | $37,739,000 (-15.96%) | $44,904,000 (80.74%) |
Issuance (Purchase) of Equity Shares | $974,000 (-91.96%) | $12,115,000 (17.22%) | $10,335,000 (169.35%) | $3,837,000 (211.95%) |
Payment of Dividends & Other Cash Distributions | -$23,408,000 (-4.31%) | -$22,441,000 (-7.84%) | -$20,810,000 (-7.42%) | -$19,373,000 (-6.57%) |
Effect of Exchange Rate Changes on Cash | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Share Based Compensation | $1,537,000 (-30.58%) | $2,214,000 (35.83%) | $1,630,000 (21.82%) | $1,338,000 (22.08%) |
Depreciation Amortization & Accretion | $28,038,000 (-4.77%) | $29,442,000 (7.16%) | $27,475,000 (2.52%) | $26,799,000 (28.61%) |
MSEX Financial Metrics (MRY)
Metric | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
Gross Margin | 40.50% (4.65%) | 38.70% (-3.49%) | 40.10% (5.80%) | 37.90% (-4.05%) |
Profit Margin | 23.10% (22.22%) | 18.90% (-27.31%) | 26.00% (2.36%) | 25.40% (-6.27%) |
EBITDA Margin | 48.60% (7.52%) | 45.20% (-11.02%) | 50.80% (10.20%) | 46.10% (4.30%) |
Return on Average Equity (ROAE) | 10.10% (32.89%) | 7.60% (-29.63%) | 10.80% (5.88%) | 10.20% (-10.53%) |
Return on Average Assets (ROAA) | 3.50% (29.63%) | 2.70% (-32.50%) | 4.00% (11.11%) | 3.60% (-10.00%) |
Return on Sales (ROS) | 34.00% (23.64%) | 27.50% (-18.88%) | 33.90% (23.72%) | 27.40% (-7.12%) |
Return on Invested Capital (ROIC) | 4.20% (35.48%) | 3.10% (-26.19%) | 4.20% (35.48%) | 3.10% (-16.22%) |
Dividend Yield | 2.50% (31.58%) | 1.90% (26.67%) | 1.50% (66.67%) | 0.90% (-35.71%) |
Price to Earnings Ratio (P/E) | 21.22 (-42.76%) | 37.07 (13.10%) | 32.78 (-43.33%) | 57.84 (74.78%) |
Price to Sales Ratio (P/S) | 4.89 (-30.07%) | 7 (-17.89%) | 8.52 (-42.02%) | 14.7 (64.51%) |
Price to Book Ratio (P/B) | 2.11 (-23.61%) | 2.76 (-20.31%) | 3.47 (-39.45%) | 5.72 (56.52%) |
Debt to Equity Ratio (D/E) | 1.82 (-5.36%) | 1.92 (14.13%) | 1.68 (-5.07%) | 1.77 (-2.53%) |
Earnings Per Share (EPS) | 2.48 (40.11%) | 1.77 (-26.25%) | 2.4 (15.38%) | 2.08 (-5.02%) |
Sales Per Share (SPS) | 10.75 (14.68%) | 9.38 (1.58%) | 9.23 (12.81%) | 8.18 (0.90%) |
Free Cash Flow Per Share (FCFPS) | -0.89 (57.75%) | -2.11 (-23.84%) | -1.7 (35.74%) | -2.65 (11.49%) |
Book Value Per Share (BVPS) | 24.96 (4.62%) | 23.86 (4.86%) | 22.75 (8.21%) | 21.02 (6.02%) |
Tangible Assets Book Value Per Share (TABVPS) | 70.35 (0.92%) | 69.71 (14.16%) | 61.06 (4.71%) | 58.31 (4.26%) |
Enterprise Value Over EBIT (EV/EBIT) | 20 (-41.18%) | 34 (6.25%) | 32 (-48.39%) | 62 (72.22%) |
Enterprise Value Over EBITDA (EV/EBITDA) | 14.08 (-32.74%) | 20.93 (-0.65%) | 21.06 (-42.76%) | 36.8 (51.51%) |
Asset Turnover | 0.15 (8.51%) | 0.14 (-9.03%) | 0.15 (9.93%) | 0.14 (-4.73%) |
Current Ratio | 0.52 (-50.43%) | 1.04 (229.65%) | 0.32 (-47.78%) | 0.61 (1.17%) |
Dividends | $1.31 (4.20%) | $1.26 (6.68%) | $1.18 (6.87%) | $1.11 (6.34%) |
Free Cash Flow (FCF) | -$15,892,000 (57.50%) | -$37,397,000 (-24.76%) | -$29,974,000 (35.33%) | -$46,350,000 (11.32%) |
Enterprise Value (EV) | $1,313,491,176 (-16.48%) | $1,572,696,392 (-9.51%) | $1,737,896,269 (-28.41%) | $2,427,432,904 (59.57%) |
Earnings Before Tax (EBT) | $51,256,000 (57.40%) | $32,565,000 (-28.69%) | $45,669,000 (47.06%) | $31,055,000 (-9.48%) |
Earnings Before Interest Taxes & Depreciation Amortization (EBITDA) | $93,317,000 (24.17%) | $75,150,000 (-8.92%) | $82,511,000 (25.08%) | $65,968,000 (5.32%) |
Invested Capital | $1,554,025,000 (0.81%) | $1,541,539,000 (16.81%) | $1,319,711,000 (2.27%) | $1,290,481,000 (7.83%) |
Working Capital | -$39,915,000 (-947.99%) | $4,707,000 (105.84%) | -$80,553,000 (-261.81%) | -$22,264,000 (2.03%) |
Tangible Asset Value | $1,255,174,000 (1.55%) | $1,236,052,000 (15.04%) | $1,074,450,000 (5.34%) | $1,020,015,000 (4.46%) |
Market Capitalization | $939,719,176 (-19.58%) | $1,168,475,392 (-15.79%) | $1,387,628,269 (-34.08%) | $2,104,890,904 (66.26%) |
Average Equity | $436,942,000 (5.45%) | $414,351,500 (6.12%) | $390,463,250 (8.91%) | $358,503,000 (6.29%) |
Average Assets | $1,252,383,250 (6.45%) | $1,176,492,250 (12.40%) | $1,046,680,250 (3.36%) | $1,012,698,000 (5.97%) |
Invested Capital Average | $1,550,965,000 (5.59%) | $1,468,877,500 (12.55%) | $1,305,090,000 (4.24%) | $1,251,983,500 (10.76%) |
Shares | 17,855,200 (0.27%) | 17,806,696 (0.95%) | 17,638,595 (0.81%) | 17,497,015 (0.16%) |
