Middlesex Water Company (MSEX) — Cash Flow Quality Index
Middlesex Water Company (MSEX) has a Cash Flow Quality Index of 0.86x as of September 2025. Operating cash flow of $12.05 Million is below net income of $13.96 Million, suggesting accrual-heavy earnings not yet converted to cash. Explore MSEX operating cash to total liabilities to assess how comfortably operating cash covers total debt obligations.
Cash Flow Quality Index
Operating Cash Flow
Net Income
Data as of
Middlesex Water Company Cash Flow Quality Index (1994–2024)
Historical Cash Flow Quality Index for Middlesex Water Company across 31 annual periods. Values consistently above 1.0x indicate high-quality earnings. For the full cash flow conversion analysis, see Middlesex Water Company cash conversion from operations.
Annual Cash Flow Quality Index for Middlesex Water Company (1994–2024)
Year-by-year earnings quality comparison for Middlesex Water Company.
| Year | Quality Index | Operating CF (USD) | Net Income | YoY Change |
|---|---|---|---|---|
| 2024 | 1.32x | $58.73 Million | $44.35 Million | ▼ -20.9% |
| 2023 | 1.67x | $52.78 Million | $31.52 Million | ▲ +15.8% |
| 2022 | 1.45x | $61.36 Million | $42.43 Million | ▲ +60.0% |
| 2021 | 0.90x | $33.03 Million | $36.54 Million | ▼ -34.9% |
| 2020 | 1.39x | $53.35 Million | $38.42 Million | ▲ +30.5% |
| 2019 | 1.06x | $36.05 Million | $33.89 Million | ▼ -24.7% |
| 2018 | 1.41x | $45.86 Million | $32.45 Million | ▼ -24.8% |
| 2017 | 1.88x | $42.84 Million | $22.81 Million | ▼ -9.2% |
| 2016 | 2.07x | $47.07 Million | $22.74 Million | ▼ -19.1% |
| 2015 | 2.56x | $51.21 Million | $20.03 Million | ▲ +44.8% |
| 2014 | 1.77x | $32.57 Million | $18.45 Million | ▼ -13.1% |
| 2013 | 2.03x | $33.80 Million | $16.63 Million | ▼ -1.1% |
| 2012 | 2.05x | $29.57 Million | $14.40 Million | ▲ +21.0% |
| 2011 | 1.70x | $22.84 Million | $13.45 Million | ▼ -4.8% |
| 2010 | 1.78x | $25.57 Million | $14.33 Million | ▼ -3.8% |
| 2009 | 1.85x | $18.51 Million | $9.98 Million | ▲ +18.5% |
| 2008 | 1.57x | $19.12 Million | $12.21 Million | ▼ -1.5% |
| 2007 | 1.59x | $18.82 Million | $11.84 Million | ▲ +0.3% |
| 2006 | 1.58x | $15.91 Million | $10.04 Million | ▼ -0.5% |
| 2005 | 1.59x | $13.50 Million | $8.48 Million | ▼ -13.6% |
| 2004 | 1.84x | $15.56 Million | $8.45 Million | ▼ -14.3% |
| 2003 | 2.15x | $14.25 Million | $6.63 Million | ▲ +50.4% |
| 2002 | 1.43x | $11.10 Million | $7.77 Million | ▼ -19.4% |
| 2001 | 1.77x | $12.33 Million | $6.95 Million | ▼ -5.9% |
| 2000 | 1.88x | $10.00 Million | $5.31 Million | ▲ +48.8% |
| 1999 | 1.27x | $10.00 Million | $7.90 Million | ▼ -20.9% |
| 1998 | 1.60x | $10.40 Million | $6.50 Million | ▼ -25.1% |
| 1997 | 2.14x | $12.60 Million | $5.90 Million | ▲ +7.8% |
| 1996 | 1.98x | $10.30 Million | $5.20 Million | ▲ +26.9% |
| 1995 | 1.56x | $8.90 Million | $5.70 Million | ▼ -2.4% |
| 1994 | 1.60x | $8.80 Million | $5.50 Million | — |