WallStSmart

American States Water Company (AWR)vsMiddlesex Water Company (MSEX)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

American States Water Company generates 238% more annual revenue ($658.07M vs $194.69M). MSEX leads profitability with a 22.0% profit margin vs 19.8%. AWR appears more attractively valued with a PEG of 2.61. AWR earns a higher WallStSmart Score of 56/100 (C).

AWR

Buy

56

out of 100

Grade: C

Growth: 5.3Profit: 7.5Value: 4.7Quality: 5.5
Piotroski: 2/9Altman Z: 1.17

MSEX

Hold

49

out of 100

Grade: D+

Growth: 3.3Profit: 7.0Value: 4.7Quality: 4.0
Piotroski: 1/9Altman Z: 0.81
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

AWRSignificantly Overvalued (-209.6%)

Margin of Safety

-209.6%

Fair Value

$22.92

Current Price

$73.40

$50.48 premium

UndervaluedFair: $22.92Overvalued
MSEXSignificantly Overvalued (-222.2%)

Margin of Safety

-222.2%

Fair Value

$16.05

Current Price

$51.11

$35.06 premium

UndervaluedFair: $16.05Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

AWR2 strengths · Avg: 8.0/10
Price/BookValuation
2.7x8/10

Reasonable price relative to book value

Operating MarginProfitability
28.8%8/10

Strong operational efficiency at 28.8%

MSEX3 strengths · Avg: 8.3/10
Profit MarginProfitability
22.0%9/10

Keeps 22 of every $100 in revenue as profit

Price/BookValuation
1.9x8/10

Reasonable price relative to book value

Operating MarginProfitability
26.3%8/10

Strong operational efficiency at 26.3%

Areas to Watch

AWR4 concerns · Avg: 2.3/10
Piotroski F-ScoreQuality
2/93/10

Weak financial health signals

PEG RatioValuation
2.612/10

Expensive relative to growth rate

EPS GrowthGrowth
-120.0%2/10

Earnings declined 120.0%

Free Cash FlowQuality
$-35.98M2/10

Negative free cash flow — burning cash

MSEX4 concerns · Avg: 2.5/10
Market CapQuality
$943.14M3/10

Smaller company, higher risk/reward

Piotroski F-ScoreQuality
1/93/10

Weak financial health signals

PEG RatioValuation
18.452/10

Expensive relative to growth rate

Revenue GrowthGrowth
-0.3%2/10

Revenue declined 0.3%

Comparative Analysis Report

WallStSmart Research

Bull Case : AWR

The strongest argument for AWR centers on Price/Book, Operating Margin. Profitability is solid with margins at 19.8% and operating margin at 28.8%. Revenue growth of 14.8% demonstrates continued momentum.

Bull Case : MSEX

The strongest argument for MSEX centers on Profit Margin, Price/Book, Operating Margin. Profitability is solid with margins at 22.0% and operating margin at 26.3%.

Bear Case : AWR

The primary concerns for AWR are Piotroski F-Score, PEG Ratio, EPS Growth.

Bear Case : MSEX

The primary concerns for MSEX are Market Cap, Piotroski F-Score, PEG Ratio.

Key Dynamics to Monitor

AWR profiles as a mature stock while MSEX is a declining play — different risk/reward profiles.

MSEX carries more volatility with a beta of 0.86 — expect wider price swings.

AWR is growing revenue faster at 14.8% — sustainability is the question.

MSEX generates stronger free cash flow (-6M), providing more financial flexibility.

Bottom Line

AWR scores higher overall (56/100 vs 49/100), backed by strong 19.8% margins and 14.8% revenue growth. Both earn "Buy" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

American States Water Company

UTILITIES · UTILITIES - REGULATED WATER · USA

American States Water Company provides water and electricity services to residential, commercial, industrial and other customers in the United States. The company is headquartered in San Dimas, California.

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Middlesex Water Company

UTILITIES · UTILITIES - REGULATED WATER · USA

Middlesex Water Company owns and operates regulated water and wastewater utility systems. The company is headquartered in Iselin, New Jersey.

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