Company Quick10K Filing
Middlesex Water
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 17 $1,048
10-Q 2019-11-01 Quarter: 2019-09-30
10-Q 2019-07-31 Quarter: 2019-06-30
10-Q 2019-05-06 Quarter: 2019-03-31
10-K 2019-03-08 Annual: 2018-12-31
10-Q 2018-11-02 Quarter: 2018-09-30
10-Q 2018-08-02 Quarter: 2018-06-30
10-Q 2018-05-07 Quarter: 2018-03-31
10-K 2018-03-09 Annual: 2017-12-31
10-Q 2017-11-02 Quarter: 2017-09-30
10-Q 2017-08-01 Quarter: 2017-06-30
10-Q 2017-05-04 Quarter: 2017-03-31
10-K 2017-03-03 Annual: 2016-12-31
10-Q 2016-11-01 Quarter: 2016-09-30
10-Q 2016-08-02 Quarter: 2016-06-30
10-Q 2016-05-03 Quarter: 2016-03-31
10-K 2016-03-04 Annual: 2015-12-31
10-Q 2015-11-03 Quarter: 2015-09-30
10-Q 2015-08-03 Quarter: 2015-06-30
10-Q 2015-05-01 Quarter: 2015-03-31
10-K 2015-03-05 Annual: 2014-12-31
10-Q 2014-11-06 Quarter: 2014-09-30
10-Q 2014-08-04 Quarter: 2014-06-30
10-Q 2014-05-02 Quarter: 2014-03-31
10-K 2014-03-05 Annual: 2013-12-31
10-Q 2013-11-06 Quarter: 2013-09-30
10-Q 2013-08-02 Quarter: 2013-06-30
10-Q 2013-05-07 Quarter: 2013-03-31
10-K 2013-03-07 Annual: 2012-12-31
10-Q 2012-10-26 Quarter: 2012-09-30
10-Q 2012-08-02 Quarter: 2012-06-30
10-Q 2012-05-04 Quarter: 2012-03-31
10-K 2012-03-08 Annual: 2011-12-31
10-Q 2011-11-04 Quarter: 2011-09-30
10-Q 2011-08-04 Quarter: 2011-06-30
10-Q 2011-05-06 Quarter: 2011-03-31
10-K 2011-03-09 Annual: 2010-12-31
10-Q 2010-11-03 Quarter: 2010-09-30
10-Q 2010-07-30 Quarter: 2010-06-30
10-Q 2010-05-06 Quarter: 2010-03-31
10-K 2010-03-08 Annual: 2009-12-31
8-K 2020-01-29 Other Events, Exhibits
8-K 2019-11-22 Enter Agreement, Other Events, Exhibits
8-K 2019-11-20 Other Events, Exhibits
8-K 2019-11-01 Earnings, Exhibits
8-K 2019-10-08 Exhibits
8-K 2019-10-03 Other Events
8-K 2019-09-25 Enter Agreement, Exhibits
8-K 2019-09-23 Amend Bylaw, Exhibits
8-K 2019-09-06 Amend Bylaw, Other Events, Exhibits
8-K 2019-09-06 Other Events, Exhibits
8-K 2019-08-05 Exhibits
8-K 2019-07-31 Earnings, Exhibits
8-K 2019-07-25 Other Events, Exhibits
8-K 2019-07-17 Regulation FD, Exhibits
8-K 2019-07-02 Officers, Exhibits
8-K 2019-05-22 Other Events, Exhibits
8-K 2019-05-06 Earnings, Exhibits
8-K 2019-04-25 Other Events, Exhibits
8-K 2019-04-22 Officers, Exhibits
8-K 2019-03-08 Earnings, Exhibits
8-K 2019-01-29 Other Events, Exhibits
8-K 2018-12-18 Exhibits
8-K 2018-11-02 Earnings, Exhibits
8-K 2018-10-29 Exhibits
8-K 2018-10-24 Other Events, Exhibits
8-K 2018-08-02 Earnings, Exhibits
8-K 2018-07-26 Other Events, Exhibits
8-K 2018-07-18 Exhibits
8-K 2018-05-24 Exhibits
8-K 2018-05-23 Other Events, Exhibits
8-K 2018-05-07 Earnings, Exhibits
8-K 2018-04-25 Other Events, Exhibits
8-K 2018-03-27 Exhibits
8-K 2018-03-09 Earnings, Exhibits
8-K 2018-01-29 Other Events, Exhibits

Middlesex Water Financials

MSEX Metrics, Comps, Filings

Annual | Quarterly

Business

Middlesex Water Company (Middlesex) was incorporated as a water utility company in 1897 and owns and operates regulated water utility and wastewater systems in New Jersey, Delaware and Pennsylvania. Middlesex also operates water and wastewater systems under contract on behalf of municipal and private clients in New Jersey, Delaware and Maryland.

The terms “the Company,” “we,” “our,” and “us” refer to Middlesex Water Company and its subsidiaries, including Tidewater Utilities, Inc. (Tidewater) and Tidewater's wholly-owned subsidiaries, Southern Shores Water Company, LLC (Southern Shores) and White Marsh Environmental Systems, Inc. (White Marsh). The Company's other subsidiaries are Pinelands Water Company (Pinelands Water) and Pinelands Wastewater Company (Pinelands Wastewater) (collectively, Pinelands), Utility Service Affiliates, Inc. (USA), Utility Service Affiliates (Perth Amboy) Inc., (USA-PA), Tidewater Environmental Services, Inc. (TESI) and Twin Lakes Utilities, Inc. (Twin Lakes).

The Middlesex System in New Jersey provides water services to approximately 61,000 retail customers, primarily in eastern Middlesex County, New Jersey and provides water under wholesale contracts to the City of Rahway, Townships of Edison and Marlboro, the Borough of Highland Park and the Old Bridge Municipal Utilities Authority. The Middlesex System treats, stores and distributes water for residential, commercial, industrial and fire protection purposes. The Middlesex System also provides water treatment and pumping services to the Township of East Brunswick under contract. The amount of water supply allocated to the Township of East Brunswick is granted directly to the Township by the New Jersey Water Supply Authority. The Middlesex System produced approximately 59% of our 2018 consolidated operating revenues.


Valuation ($MM)

Market Cap, Enterprise Value

Balance Sheet ($MM)

Assets, Stockholders' Equity

Income Statement ($MM Annual)

Revenue, Gross Profit, Net Income

Cash Flow ($MM Annual)

Operating, Investing, Financing

Comps ($'000 TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Companhia De Saneamento Basico Do Estado De Sao Paulo-Sabesp (SBS) 5,386,058 0% 43,565,118 24,013,430 0 0 0 0 5,354,158
Mastec (MTZ) 3,716,148 15% 8.2 7% 4,797,371 3,246,033 7,352,173 1,071,287 315,901 614,337 5,014,672
American States Water (AWR) 2,732,305 24% 18.6 5% 1,567,283 988,496 461,567 110,115 76,377 161,520 3,012,142
California Water Service (CWT) 2,617,372 0% 28.1 1% 2,964,595 2,241,431 653,587 0 15,368 120,213 3,375,297
SJW Group (SJW) 1,706,141 0% 11.5 2% 2,003,650 1,109,655 403,061 0 44,246 155,724 1,795,151
Dycom Industries (DY) 1,671,520 17% 9.0 3% 2,328,371 1,474,938 3,314,820 572,228 59,951 289,745 2,602,780
Middlesex Water (MSEX) 1,048,357 0% 20.3 4% 807,571 135,932 0 33,981 60,057 1,219,001
Primoris Services (PRIM) 1,023,535 11% 6.0 5% 1,825,211 1,204,346 3,238,059 342,749 89,946 230,961 1,382,363
Connecticut Water Service (CTWS) 845,039 0% 32.9 2% 981,427 292,500 127,024 0 21,217 33,984 1,117,804
MYR Group (MYRG) 605,353 10% 7.8 4% 806,695 467,758 1,831,309 178,716 33,168 90,523 707,477
Aquaventure Holdings (WAAS) 541,589 53% 31.0 -3% 722,469 391,298 176,598 93,158 -18,600 26,292 814,195
Aegion (AEGN) 512,791 20% 20.1 -1% 1,015,468 581,445 1,269,321 250,101 -14,773 38,536 774,785
York Water (YORW) 456,565 0% 18.6 4% 351,851 222,737 49,521 0 14,007 29,913 555,308
Artesian Resources (ARTNA) 347,226 0% 12.6 3% 538,503 126,780 81,305 0 14,242 36,790 462,023
Cadiz (CDZI) 294,746 25% -33.7 -37% 77,526 157,294 443 111 -29,006 -12,272 413,173
Preformed Line Products (PLPC) 263,218 31% 6.5 6% 425,153 167,301 425,819 130,582 24,046 42,627 279,134
Pure Cycle (PCYO) 245,553 30% 62.2 4% 76,840 5,269 14,780 4,447 2,736 3,892 241,972
Global Water Resources (GWRS) 218,920 0% 19.3 1% 264,386 237,623 34,096 0 1,954 16,751 322,495
Consolidated Water (CWCO) 211,982 51% 10.0 9% 181,959 10,223 54,875 28,057 16,725 16,812 168,598
Goldfield (GV) 54,935 0% 4.8 2% 126,383 64,340 121,377 0 3,069 15,756 75,267

Balance Sheet ($'000)2011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Cash3,1063,0254,8342,6733,4693,8794,9375,661
Accounts Receivable11,28012,44711,64010,01210,06010,12910,78511,762
Inventory
PP&E
Assets537,536561,726530,341575,772584,722620,161661,140767,830
Accounts Payable5,7063,8086,3286,3546,52512,34313,92919,325
Long-Term Debt132,167131,467133,11233,80030,20034,8003,80062,500
Liabilities166,829185,318146,936
Stockholders' Equity321,429
Income Statement ($'000)2011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Revenue137,940
Cost of Revenue
Gross Profit
R&D
SG&A
Tax6,5277,3838,6215,9031,3915,72911,100924
Net Income13,44714,39616,63318,44520,02822,74222,80932,452
Cash Flow ($'000)2011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-31
Cash Operating22,83629,57233,80532,57151,21247,07142,84345,864
Cash Investing-20,066-22,314-21,412-21,839-24,383-47,375-51,322-72,094
Cash Financing-2,117-7,339-10,584-12,893-26,0337149,53725,494