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The terms the Company, we, our, and us collectively refer to Middlesex Water Company (Middlesex) 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 Wat…
27.93% operating margin is above average. ROIC at 4.73%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue growth slowed to 1.5%, essentially flat. This is a business that needs a catalyst.
Insufficient data to identify specific risks. Treat any missing metrics as a data gap, not a clean bill of health.
Profitability & Returns
Revenue (TTM)
$199M
▲ +1.5% YoY
Net Income (TTM)
$44M
▼ -3.4% YoY
Op. Margin
28.09%
▲ +0.2pp YoY
ROIC
5.15%
▲ +0.1pp YoY
Cash Flow & Balance Sheet
FCF
N/A
Op. Cash Flow (TTM)
$61M
▲ +6.6% YoY
Net Debt
$426M
Cash & Equiv.
$2M
5Y CAGR: +6.6%
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