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Middlesex Water vs Consolidated Water: MSEX and CWCO compared
Middlesex Water is the larger company: $60.2M of revenue in its latest quarter (Q3 2026) against $32.9M for Consolidated Water (Q2 2026). Middlesex Water is growing faster (+11% against -2% a year earlier). Middlesex Water is more profitable, with an operating margin of 37.0% against 11.4%.
Where the money goes: MSEX and CWCO
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.
Consolidated Water (CWCO) · Q2 2026
Consolidated Water, Q2 2026: revenue $32.9M (-2% year over year), operating margin 11.4%, net earnings $3.9M, operating cash flow $12.0M. The chart follows the revenue to costs, profit and cash.
| Middlesex Water (MSEX) | Consolidated Water (CWCO) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $60.2M | $32.9M |
| Revenue growth, Y/Y | +11% | -2% |
| Gross margin | — | 33.4% |
| Operating margin | 37.0% | 11.4% |
| Net earnings | $18.0M | $3.9M |
| Net margin | 29.9% | 12.0% |
| Operating cash flow | $22.9M | $12.0M |
| Free cash flow | — | $8.5M |
Where the revenue comes from
Consolidated Water
- Services revenue: $11.6M (35%)
- Bulk revenue: $9.9M (30%)
- Retail revenue: $8.7M (26%)
- Manufacturing revenue: $2.7M (8%)
Questions
Which is bigger, Middlesex Water or Consolidated Water?
Middlesex Water is the larger company: $60.2M of revenue in its latest quarter (Q3 2026) against $32.9M for Consolidated Water (Q2 2026).
Is Middlesex Water or Consolidated Water growing faster?
Middlesex Water is growing faster (+11% against -2% a year earlier).
Which is more profitable, Middlesex Water or Consolidated Water?
Middlesex Water is more profitable, with an operating margin of 37.0% against 11.4%.
More: Middlesex Water earnings · how Middlesex Water makes money · Consolidated Water earnings · how Consolidated Water makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 29, 2026; 10-Q filed Aug 10, 2026). Fiscal quarters can end on different dates. Not investment advice.