Middlesex Water Company (MSEX)

Middlesex Water Company Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	43.02	44.35	31.52	42.43	36.54	38.43
Depreciation & Amortization	31.8	28.04	29.44	27.48	26.8	20.84
Loss (Gain) on Sale of Assets	-	-	-	-5.23	-	-
Stock-Based Compensation	1.43	1.54	2.21	1.63	1.34	1.1
Change in Accounts Receivable	2.4	-2.14	-2.79	-2.09	-0.95	-2.54
Change in Inventory	-0.76	0.25	-0.8	-0.82	-0.25	0.33
Change in Accounts Payable	0.14	2.57	2.77	3.72	-9.32	7.14
Change in Income Taxes	2.13	1.44	-1.63	3.54	-1.52	2.5
Change in Unearned Revenue	0.09	0.09	0.03	0.04	0.08	0.04
Change in Other Net Operating Assets	-7.2	-14.76	-0.62	-3.01	-7.07	1.91
Other Operating Activities	-7.51	-2.66	-7.36	-6.32	-12.63	-16.38
Operating Cash Flow	65.53	58.73	52.78	61.36	33.03	53.36
Operating Cash Flow Growth	30.72%	11.27%	-13.98%	85.78%	-38.10%	47.99%
Capital Expenditures	-101.39	-74.62	-90.18	-91.34	-79.38	-105.62
Divestitures	-	-	-	3.12	-	-
Investing Cash Flow	-101.39	-74.62	-90.18	-88.21	-79.38	-105.62
Short-Term Debt Issued	-	-	-	42.5	11	-
Long-Term Debt Issued	-	2.3	75.81	2.66	86.6	50.32
Total Debt Issued	37.31	2.3	75.81	45.16	97.6	50.32
Short-Term Debt Repaid	-	-19.75	-12.75	-	-	-18
Long-Term Debt Repaid	-	-7.65	-17.46	-7.42	-52.69	-7.47
Total Debt Repaid	-2.04	-27.4	-30.21	-7.42	-52.69	-25.47
Net Debt Issued (Repaid)	35.27	-25.1	45.6	37.74	44.9	24.84
Issuance of Common Stock	21.52	0.97	12.12	10.34	3.84	1.23
Repurchase of Common Stock	-0.5	-1.47	-0.62	-	-	-
Common Dividends Paid	-24.39	-23.41	-22.44	-20.81	-19.37	-18.18
Preferred Dividends Paid	-0.08	-0.11	-0.12	-0.12	-0.12	-0.12
Dividends Paid	-24.47	-23.52	-22.56	-20.93	-19.49	-18.3
Other Financing Activities	2.76	66.84	1.43	0	10.23	8.39
Financing Cash Flow	34.58	17.73	35.96	27.15	39.48	16.17
Net Cash Flow	-1.29	1.84	-1.44	0.3	-6.87	-36.1
Free Cash Flow	-35.86	-15.89	-37.4	-29.97	-46.35	-52.26
Free Cash Flow Margin	-18.41%	-8.28%	-22.49%	-18.45%	-32.38%	-36.91%
Free Cash Flow Per Share	-1.99	-0.89	-2.10	-1.69	-2.63	-2.97
Cash Interest Paid	13.86	14.49	12.76	9.25	8.55	7.64
Cash Income Tax Paid	1.7	3.17	2.96	3.23	3.34	2.51
Levered Free Cash Flow	-39.72	48.28	-104.82	-33.58	-46.18	-57.75
Unlevered Free Cash Flow	-31.07	57.04	-96.61	-27.72	-41.11	-53.06
Change in Working Capital	-3.21	-12.54	-3.04	1.38	-19.02	9.38

Updated Oct 31, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.

SEC Filings: 10-K · 10-Q