MSEX · XBRL financial data

Middlesex Water Company financial statements, every fiscal year

The same tables from 10 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal years (MSEX's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Revenue	—	—	—	166	192	195
Total operating expenses	104	110	120	127	139	140
Operating income (loss)	37	33	47	39	53	54
Interest expense	7	8	9	13	14	14
Other income (expense)	0	3	5	4	11	6
Income tax expense (benefit)	(4)	(5)	3	1	7	5
Net income (loss)	38	37	42	32	44	43
Earnings per share, basic USD per share	2.19	2.08	2.40	1.77	2.48	2.36
Earnings per share, diluted USD per share	2.18	2.07	2.39	1.76	2.47	2.36
Weighted average shares, basic millions of shares	0	17	0	0	18	18
Weighted average shares, diluted millions of shares	0	18	0	0	18	18

Fiscal years (MSEX's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Cash and cash equivalents	4	4	4	2	4	3
Accounts receivable	15	15	16	18	19	19
Total current assets	34	34	37	109	43	42
Right-of-use asset	5	5	4	3	3	2
Total assets	976	1,020	1,074	1,236	1,255	1,366
Accounts payable	30	21	25	28	28	31
Accrued liabilities	—	—	3	3	3	3
Current portion of long-term debt	7	7	17	8	359	8
Total current liabilities	57	57	118	104	83	94
Long-term debt	273	307	290	358	353	379
Lease liability, non-current	5	4	—	3	2	2
Retained earnings	129	146	167	176	197	215
Total stockholders' equity	346	368	400	423	445	494
Total liabilities and equity	976	1,020	1,074	1,236	1,255	1,366
Common shares outstanding (cover page) millions of shares	17	18	18	18	18	19

Fiscal years (MSEX's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Net income (loss)	38	37	42	32	44	43
Stock-based compensation	1	1	2	2	2	1
Depreciation and amortization	21	27	27	29	—	—
Net cash from operating activities	53	33	61	53	59	63
Purchases of property and equipment	106	79	91	90	75	—
Net cash from investing activities	(106)	(79)	(88)	(90)	(75)	(101)
Proceeds from issuing common stock	1	4	10	12	1	30
Share repurchases	—	—	—	1	1	—
Dividends paid	18	19	21	22	23	25
Proceeds from long-term debt	50	87	3	76	2	34
Repayments of long-term debt	7	53	7	17	8	7
Net cash from financing activities	16	39	27	36	18	39
Net change in cash	(36)	(7)	0	—	—	—

SIC 4941 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen

SIC 4941 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
* marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.

Company	Cash ($M)	Revenue, quarter ($M)	Operating cash flow, quarter ($M)	Shares outstanding	Quarter
Middlesex Water	1.7	60	23*	19.1M	Q3 FY26 10-QSep 30, 2026
California Water Service Group	45	331	149*	62.9M	Q3 FY26 10-QSep 30, 2026
H2o America	573	253	80*	48.3M	Q3 FY26 10-QSep 30, 2026
Artesian Resources	9.8	31	10*	not reported	Q2 FY26 10-QJun 30, 2026
York Water	0.6	24	12*	16.2M	Q2 FY26 10-QJun 30, 2026
Consolidated Water	133	33	12*	16.0M	Q2 FY26 10-QJun 30, 2026
American States Water	22	181	45*	39.6M	Q2 FY26 10-QJun 30, 2026
Pure Cycle	8.4	8.2	3.5*	24.1M	Q3 FY26 10-QMay 31, 2026

Not investment advice. Not affiliated with the U.S. SEC.