Middlesex Water Company (MSEX)

Debt-to-assets ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Long-term debt	US$ in thousands	352,822	352,282	355,975	356,960	358,153	354,276	350,446	329,636	290,280	301,238	305,411	306,518	290,280	266,483	272,504	272,664	273,244	234,489	237,939	234,789
Total assets	US$ in thousands	1,255,170	1,229,620	1,274,640	1,250,100	1,236,050	1,243,420	1,127,590	1,098,920	1,074,450	1,064,670	1,038,020	1,074,450	1,020,020	1,029,590	1,014,980	986,210	976,470	959,834	950,870	935,316
Debt-to-assets ratio		0.28	0.29	0.28	0.29	0.29	0.28	0.31	0.30	0.27	0.28	0.29	0.29	0.28	0.26	0.27	0.28	0.28	0.24	0.25	0.25

December 31, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $352,822K ÷ $1,255,170K
= 0.28

The debt-to-assets ratio of Middlesex Water Company has remained relatively stable over the past few years. From March 31, 2020, to December 31, 2024, the ratio fluctuated between 0.24 and 0.31, with the highest point being 0.31 on June 30, 2023. This indicates that, on average, approximately 25% to 31% of the company's assets were funded by debt during this period. It is important to note that a lower debt-to-assets ratio generally suggests lower financial risk and a stronger financial position, while a higher ratio may indicate higher leverage and potential solvency issues. Middlesex Water Company's debt-to-assets ratio hovering around 0.28 reflects a moderate level of debt in relation to its total assets.