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Middlesex Water vs Artesian Resources: MSEX and ARTNA compared
Middlesex Water is the larger company: $60.2M of revenue in its latest quarter (Q3 2026) against $30.7M for Artesian Resources (Q2 2026). Middlesex Water is growing faster (+11% against +7% a year earlier). Middlesex Water is more profitable, with an operating margin of 37.0% against 28.1%.
Where the money goes: MSEX and ARTNA
Middlesex Water (MSEX) · Q3 2026
Middlesex Water, Q3 2026: revenue $60.2M (+11% year over year), operating margin 37.0%, net earnings $18.0M, operating cash flow $22.9M. The chart follows the revenue to costs, profit and cash.
Artesian Resources (ARTNA) · Q2 2026
Artesian Resources, Q2 2026: revenue $30.7M (+7% year over year), operating margin 28.1%, net earnings $6.6M, operating cash flow $10.2M. The chart follows the revenue to costs, profit and cash.
| Middlesex Water (MSEX) | Artesian Resources (ARTNA) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $60.2M | $30.7M |
| Revenue growth, Y/Y | +11% | +7% |
| Operating margin | 37.0% | 28.1% |
| Net earnings | $18.0M | $6.6M |
| Net margin | 29.9% | 21.4% |
| Operating cash flow | $22.9M | $10.2M |
Where the revenue comes from
Artesian Resources
- Water Sales: $24.4M (80%)
- Other Utility Operating Revenue: $4.2M (14%)
- Non Utility Operating Revenue: $2.0M (7%)
Questions
Which is bigger, Middlesex Water or Artesian Resources?
Middlesex Water is the larger company: $60.2M of revenue in its latest quarter (Q3 2026) against $30.7M for Artesian Resources (Q2 2026).
Is Middlesex Water or Artesian Resources growing faster?
Middlesex Water is growing faster (+11% against +7% a year earlier).
Which is more profitable, Middlesex Water or Artesian Resources?
Middlesex Water is more profitable, with an operating margin of 37.0% against 28.1%.
More: Middlesex Water earnings · how Middlesex Water makes money · Artesian Resources earnings · how Artesian Resources makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 29, 2026; 10-Q filed Aug 12, 2026). Fiscal quarters can end on different dates. Not investment advice.