Middlesex Water Company (MSEX)

Debt-to-capital ratio

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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Long-term debt US$ in thousands 358,153 354,276 350,446 329,636 290,280 301,238 305,411 306,518 290,280 266,483 272,504 272,664 273,244 234,489 237,939 234,789 230,777 228,272 163,574 158,422
Total stockholders’ equity US$ in thousands 422,991 419,583 411,477 403,355 400,328 398,075 385,567 377,882 367,726 364,424 357,182 350,932 348,292 344,190 335,457 329,484 325,876 277,879 265,717 256,575
Debt-to-capital ratio 0.46 0.46 0.46 0.45 0.42 0.43 0.44 0.45 0.44 0.42 0.43 0.44 0.44 0.41 0.41 0.42 0.41 0.45 0.38 0.38

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $358,153K ÷ ($358,153K + $422,991K)
= 0.46

The debt-to-capital ratio of Middlesex Water Co. has been relatively stable over the past eight quarters, hovering around the range of 0.46 to 0.49. This indicates that the company maintains a moderate level of debt compared to its total capital structure. A ratio of around 0.47 to 0.49 suggests that roughly half of the company's capital structure is funded by debt, while the other half is sourced from equity. The trend suggests a consistent approach to balancing debt and equity in the company's financial structure, which could be a strategic decision to maintain a healthy balance sheet. However, it is important for stakeholders to monitor this ratio over time to ensure that the company's debt levels remain sustainable and aligned with its overall financial objectives.


Peer comparison

Dec 31, 2023