Middlesex Water vs Essential Utilities
Essential Utilities reported revenue of $2.5 billion in fiscal 2025, 12.7 times Middlesex Water's $195 million in fiscal 2025. Middlesex Water's revenue grew 1.5% in its latest year, and Essential Utilities' grew 18.6%. Middlesex Water had an operating margin of 27.9%, against 37.2% at Essential Utilities.
Side by side
| Middlesex Water | Essential Utilities | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $195M | $2.5B |
| Revenue growth | 1.5% | 18.6% |
| Revenue growth a year, last 5 years | 6.6% | 11.1% |
| Gross margin | — | — |
| Operating margin | 27.9% | 37.2% |
| Net margin | 22.0% | 24.9% |
| Free cash flow | — | −$420M |
| Free cash flow margin | — | −16.9% |
| Return on capital | — | 6.4% |
| Net debt to EBITDA | 4.4x | 6.0x |
| Dividends and buybacks | $25M | $376M |
| Change in diluted share count | 1.1% | 2.3% |
| Last close | $56.19 | $42.76 |
| P/E at the last close | 21.7× | 21.8× |
| Insider trades, last 12 months | bought $108,620, sold $92,332 | sold $112,915 |
| Piotroski F-score | — | 5 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Middlesex WaterEssential Utilities
Operating margin
Percent of revenue
Middlesex WaterEssential Utilities
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Middlesex WaterEssential Utilities
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Middlesex Water and Essential Utilities pages.