Middlesex Water Company
$1.48B- Market cap
- $1.10B
- Debt
- +$386.72M
- Cash
- −$2.80M
Capital structure 74% equity / 26% debt · EV / Revenue 7.61x · EV / EBITDA 16.80x
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
Decision snapshot: MSEX stock price at premium vs ANIK $58.28 current versus $25.53 implied using P/S multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at ANIK's multiple
Implied fair value · at MSEX's multiple
Snapshot Sep 4, 4:00 PM ET
Metric by metric
Where each company leads, and how wide the gap is.
Growth edge
Pricing power
Operating leverage
Multiple premium
Not comparable
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: MSEX FY 2025 (ended Dec 31, 2025) · ANIK FY 2025 (ended Dec 31, 2025).
Trendline
Five fiscal years of revenue, earnings, and margins before underwriting a re-rating.
Price framework
Market cap plus debt, less cash.
Capital structure 74% equity / 26% debt · EV / Revenue 7.61x · EV / EBITDA 16.80x
Capital structure 100% equity / -0% debt · EV / Revenue 1.75x
MSEX carries the larger enterprise value at $1.48B against $197.45M; ANIK trades on the lower EV / Revenue multiple (1.75x vs 7.61x).
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
MIDDLESEX WATER COMPANY · implied price per share
Five annual free-cash-flow observations are required for the filing-backed baseline.
Anika Therapeutics, Inc. · implied price per share
At least 3 of the last 5 annual free-cash-flow observations must be positive.
Balance sheet health
Financial health checks to separate durable balance sheets from potential value traps.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Not enough data to score either balance sheet.
Debt / equity
Total debt against shareholders' equity
0.78x
-0.00x
Net debt / EBITDA
Leverage against operating earnings
4.35x
34.65x
Cash and equivalents
Liquid reserves on the balance sheet
$2.80M
$81.17M
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
Keep comparing
Open adjacent comparisons from the same industry to pressure-test the read across multiple pairs.
$386.72M
-$149.00K
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