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Middlesex Water Co owns and operates regulated water utility and wastewater systems in the U.S. The firm operates in the eastern states of New Jersey, Delaware, and Pennsylvania. The company has two operating segments, Regulated and Non-Regulated. The regulated business includes collecting and distributing water to residential, commercial, industrial, and fire protection consumers. The non-regulated business includes contract services for the operation of private water and wastewater systems. The majority of the company's revenue is derived from the Regulated segment and from residential customers.
1897
360
LTM Revenue $195M
LTM EBITDA n/a
$1.5B
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Middlesex Water has a last 12-month revenue of $195M and a last 12-month EBITDA of n/a.
In the most recent fiscal year, Middlesex Water achieved revenue of $192M and an EBITDA of $92.1M.
Middlesex Water expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Middlesex Water valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $166M | $192M | XXX | XXX | XXX |
| Gross Profit | $83.3M | $83.2M | XXX | XXX | XXX |
| Gross Margin | 50% | 43% | XXX | XXX | XXX |
| EBITDA | $72.7M | $92.1M | XXX | XXX | XXX |
| EBITDA Margin | 44% | 48% | XXX | XXX | XXX |
| Net Profit | $42.4M | $31.5M | XXX | XXX | XXX |
| Net Margin | 26% | 16% | XXX | XXX | XXX |
| Net Debt | $359M | $406M | XXX | XXX | XXX |
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As of April 15, 2025, Middlesex Water's stock price is $63.
Middlesex Water has current market cap of $1.1B, and EV of $1.5B.
See Middlesex Water trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $1.5B | $1.1B | XXX | XXX | XXX | XXX | $2.47 |
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Sign UpAs of April 15, 2025, Middlesex Water has market cap of $1.1B and EV of $1.5B.
Middlesex Water's trades at 7.7x LTM EV/Revenue multiple, and n/a LTM EBITDA.
Analysts estimate Middlesex Water's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Middlesex Water and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $1.5B | XXX | XXX | XXX |
| EV/Revenue | 7.9x | XXX | XXX | XXX |
| EV/EBITDA | 16.4x | XXX | XXX | XXX |
| P/E | 25.4x | XXX | XXX | XXX |
| P/E/Growth | 4.0x | XXX | XXX | XXX |
| EV/FCF | -94.9x | XXX | XXX | XXX |
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Sign UpMiddlesex Water's NTM/LTM revenue growth is 6%
Middlesex Water's revenue per employee for the last fiscal year averaged $0.5M, while opex per employee averaged $0.1M for the same period.
Over next 12 months, Middlesex Water's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Middlesex Water's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Middlesex Water and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 15% | XXX | XXX | XXX | XXX |
| EBITDA Margin | 48% | XXX | XXX | XXX | XXX |
| EBITDA Growth | 27% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 54% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.5M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.1M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| Opex to Revenue | 24% | XXX | XXX | XXX | XXX |
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| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| TAQA | XXX | XXX | XXX | XXX | XXX | XXX |
| New Sources Energy | XXX | XXX | XXX | XXX | XXX | XXX |
| AGL Energy | XXX | XXX | XXX | XXX | XXX | XXX |
| APA Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Chrysos Corp. | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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Middlesex Water acquired XXX companies to date.
Last acquisition by Middlesex Water was XXXXXXXX, XXXXX XXXXX XXXXXX . Middlesex Water acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was Middlesex Water founded? | Middlesex Water was founded in 1897. |
| Where is Middlesex Water headquartered? | Middlesex Water is headquartered in United States of America. |
| How many employees does Middlesex Water have? | As of today, Middlesex Water has 360 employees. |
| Who is the CEO of Middlesex Water? | Middlesex Water's CEO is Ms. Nadine Duchemin-Leslie. |
| Is Middlesex Water publicy listed? | Yes, Middlesex Water is a public company listed on NAS. |
| What is the stock symbol of Middlesex Water? | Middlesex Water trades under MSEX ticker. |
| When did Middlesex Water go public? | Middlesex Water went public in 1990. |
| Who are competitors of Middlesex Water? | Similar companies to Middlesex Water include e.g. TAQA, New Sources Energy, AGL Energy, APA Group. |
| What is the current market cap of Middlesex Water? | Middlesex Water's current market cap is $1.1B |
| What is the current revenue of Middlesex Water? | Middlesex Water's last 12-month revenue is $195M. |
| What is the current EV/Revenue multiple of Middlesex Water? | Current revenue multiple of Middlesex Water is 7.7x. |
| What is the current revenue growth of Middlesex Water? | Middlesex Water revenue growth between 2023 and 2024 was 15%. |
| Is Middlesex Water profitable? | Yes, Middlesex Water is EBITDA-positive (as of the last 12 months). |
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