Is it safe?
Can MSEX take a bad year?
Middlesex Water Company carries $424M of net debt at 4.92× EBITDA: a heavy load to carry through a bad year.
$424M
Net debt · as at Q1 2026 · over four years of earnings before interest, tax and depreciation, heavy
- Net debt / EBITDA
- 4.92×
Net debt / EBITDA · 8.90× a year ago · the load is coming down
- Altman Z-score
- 1.15
Altman Z-score · distress zone, below 1.8
- Interest cover
- 3.78×
Interest cover · operating profit covers the interest bill, with room to spare
Details›
- Total debtQ1 2026
- $426M
- Cash and short-term investments
- $2.0M
- Net debt
- $424M
- EBITDA, trailing twelve months
- $86M
- Operating profit, trailing twelve months
- $56M
- Debt / equity
- 0.85×
- Total debt / EBITDA
- 4.94×
- Annualised volatilitytwo years of daily moves
- 31%
- Worst drawdown on file
- −61%
- Below its 52-week high
- −3.6%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.
Utilities - Regulated Water
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