Middlesex Water CoMSEX -0.51%82 Return-on-Tangible-Equity is 8.50% as of Mar. 2026, which is 18% below its 10-year median of 10.38. GuruFocus rates MSEX with a GF Score™ of 82/100 and a GF Value™ of $62.67 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 496 Utilities - Regulated companies, Middlesex Water Co ranks worse than 57.86% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Middlesex Water Co's annualized net income for the quarter that ended in Mar. 2026 was $42.4 Mil. Middlesex Water Co's average shareholder tangible equity for the quarter that ended in Mar. 2026 was $498.9 Mil. Therefore, Middlesex Water Co's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 8.50%.
The historical rank and industry rank for Middlesex Water Co's Return-on-Tangible-Equity or its related term are showing as below:
MSEX'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 7.62 Med: 10.38 Max: 13.44
Current: 9.19
During the past 13 years, Middlesex Water Co's highest Return-on-Tangible-Equity was 13.44%. The lowest was 7.62%. And the median was 10.38%.
MSEX's Return-on-Tangible-Equity is ranked worse than 57.86% of 496
companies
in the Utilities - Regulated industry
Industry Median: 10.935
vs MSEX: 9.19
Middlesex Water Co (NAS:MSEX) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Middlesex Water Co Return-on-Tangible-Equity Related Terms
Middlesex Water Co Return-on-Tangible-Equity Historical Data
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The historical data trend for Middlesex Water Co's Return-on-Tangible-Equity can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Middlesex Water Co Return-on-Tangible-Equity Chart
MSEX vs YORW, CWCO, ARTNA: Return-on-Tangible-Equity Comparison
For the Utilities - Regulated Water subindustry, Middlesex Water Co's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Middlesex Water Co Return-on-Tangible-Equity vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Middlesex Water Co's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Middlesex Water Co's Return-on-Tangible-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 8.50% mean?
Middlesex Water Co (MSEX) has a Return-on-Tangible-Equity of 8.50% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Middlesex Water Co and its competitors. This is 18% below median its historical median of 10.38. Over the past decade, Middlesex Water Co's Return-on-Tangible-Equity has ranged from 7.62 to 13.44. According to the industry distribution chart, Middlesex Water Co ranks #287 out of 496 companies in the Utilities - Regulated industry, placing it in the top 57.9%.
Is Middlesex Water Co's Return-on-Tangible-Equity too high?
Middlesex Water Co's current Return-on-Tangible-Equity of 8.50% is 18% below median its 10-year median of 10.38. Over the past 10 years, this metric has ranged from a low of 7.62 to a high of 13.44. The Utilities - Regulated industry median Return-on-Tangible-Equity is 10.94. Middlesex Water Co's value of 8.50% is 22.3% below this industry median. Based on the distribution chart, Middlesex Water Co ranks #287 out of 496 companies in the Utilities - Regulated industry, which is below the industry midpoint. Overall, Middlesex Water Co has a GF Score™ of 82/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Middlesex Water Co's Return-on-Tangible-Equity compare to YORW and CWCO?
According to the Utilities - Regulated industry distribution chart, Middlesex Water Co ranks #287 out of 496 companies for Return-on-Tangible-Equity. This places Middlesex Water Co in the lower half of its industry. The industry median Return-on-Tangible-Equity is 10.94. Middlesex Water Co's value of 8.50% is 22.3% below this benchmark. Historically, Middlesex Water Co's own Return-on-Tangible-Equity has ranged from 7.62 to 13.44 over the past decade. While the company's 10-year median is 10.38 vs. the industry median of 10.94, Middlesex Water Co has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Equity for an Utilities - Regulated company?
The median Return-on-Tangible-Equity among Utilities - Regulated companies is 10.94, based on 496 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Middlesex Water Co's current Return-on-Tangible-Equity of 8.50% is 22.3% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Middlesex Water Co and its competitors. For the Utilities - Regulated industry, the median Return-on-Tangible-Equity is 10.94 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Middlesex Water Co's current Return-on-Tangible-Equity is 8.50%, which is 18% below median its own 10-year median of 10.38. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Middlesex Water Co stock overvalued right now?
Based on GuruFocus' analysis, Middlesex Water Co (MSEX) is currently considered Modestly Undervalued. The stock's GF Value™ is $62.67, compared to a current price of $54.51 — trading 13% below its estimated fair value. The current Return-on-Tangible-Equity is 8.50%, which is 18% below median its 10-year median of 10.38 and 22.3% below the Utilities - Regulated industry median of 10.94. Middlesex Water Co's overall GF Score™ is 82/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Middlesex Water Co (MSEX), the current Return-on-Tangible-Equity is 8.50% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Middlesex Water Co (MSEX) Overvalued in 2026?
Based on GuruFocus' analysis, Middlesex Water Co stock appears to be undervalued.
The current stock price of $54.51 is trading 13% below its estimated GF Value™ of $62.67.
GuruFocus considers Middlesex Water Co to be Modestly Undervalued.
Key valuation signals for MSEX:
Return-on-Tangible-Equity: 8.50% (18% below median its 10-year median of 10.38)
GF Value™: $62.67 vs. price of $54.51 (13% below fair value)
Industry Position: 22.3% below the Utilities - Regulated median (#287 of 496)
No single metric tells the full story. See the MSEX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Middlesex Water Co owns and operates regulated water utility and wastewater systems in the U.S. 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.
82GF Score
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