CoverageForm 410-K10-Q8-K13D13G13F

ARTNA · Artesian Resources Corp - Financials

Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.

Price · ARTNA

Income Statement

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Revenue$112.94M$107.95M$98.86M$98.90M$90.86M$88.14M
Cost of Revenue------
Gross Profit------
R&D------
SG&A------
Total Operating Expenses$85.16M$81.80M$76.42M$74.99M$68.56M$65.85M
D&A$13.81M$13.63M$13.34M$12.62M$11.88M$11.14M
Operating Income$27.78M$26.15M$22.45M$23.91M$22.29M$22.30M
Interest Expense$8.69M$8.78M$9.16M$8.50M$7.59M$7.62M
Income Tax$7.83M$7.32M$6.35M$5.88M$5.74M$5.68M
Net Income$22.82M$20.39M$16.70M$18.00M$16.83M$16.82M
EPS - Basic$2.21$1.98$1.67$1.90$1.79$1.80
EPS - Diluted$2.21$1.98$1.67$1.90$1.79$1.79

Balance Sheet

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Cash & Equivalents$52.0K$1.15M$2.50M$1.31M$92.0K$28.0K
Accounts Receivable$9.49M$11.34M$12.83M$13.51M$8.86M$10.16M
Inventory------
Accounts Payable$14.02M$11.23M$9.70M$10.93M$10.21M$6.34M
Current Assets$21.42M$24.53M$30.62M$27.80M$19.16M$17.62M
Total Assets$851.23M$798.62M$766.83M$719.79M$625.21M$593.22M
Current Liabilities$33.72M$25.59M$22.41M$44.07M$47.70M$43.72M
Long-term Debt$174.28M$176.51M$178.31M$175.62M$143.26M$142.33M
Total Liabilities------
Stockholders' Equity$249.92M$239.19M$230.40M$187.93M$178.01M$169.43M
Retained Earnings$95.11M$84.97M$76.74M$71.29M$63.61M$56.61M

Cash Flow

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Operating Cash Flow$40.35M$36.82M$31.85M$24.27M$31.31M$20.36M
Investing Cash Flow($58.72M)($45.32M)($62.08M)($54.76M)($40.72M)($39.97M)
Financing Cash Flow$17.27M$7.14M$31.42M$31.71M$9.48M$19.05M
CapEx$58.84M$45.94M$62.18M$48.48M$40.81M$34.28M
Free Cash Flow($18.50M)($9.12M)($30.33M)($24.22M)($9.50M)($13.92M)

Ratios

MetricFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Profitability
Gross margin------
Operating margin24.6%24.2%22.7%24.2%24.5%25.3%
EBITDA margin36.8%36.8%36.2%36.9%37.6%37.9%
Net margin20.2%18.9%16.9%18.2%18.5%19.1%
Free cash flow margin-16.4%-8.4%-30.7%-24.5%-10.5%-15.8%
FCF / Net income-0.81-0.45-1.82-1.35-0.56-0.83
R&D / Revenue------
SG&A / Revenue------
Effective tax rate25.5%26.4%27.5%24.6%25.4%25.3%
Return on assets2.7%2.6%2.2%2.5%2.7%2.8%
Return on equity9.1%8.5%7.2%9.6%9.5%9.9%
Return on invested capital4.9%4.6%4.0%5.0%5.2%5.3%
Liquidity
Current ratio0.640.961.370.630.400.40
Quick ratio0.640.961.370.630.400.40
Cash ratio0.000.040.110.030.000.00
Leverage
Debt / Equity0.700.740.770.930.800.84
Debt / Assets0.200.220.230.240.230.24
Debt / EBITDA4.194.444.984.814.194.26
Interest coverage3.2x3.0x2.5x2.8x2.9x2.9x
Equity multiplier3.413.343.333.833.513.50
Liabilities / Assets------
Efficiency
Asset turnover0.130.140.130.140.150.15
Inventory turnover------
Days sales outstanding31d38d47d50d36d42d
Days inventory outstanding------
Days payable outstanding------
Cash conversion cycle------
Valuation
P / E14.3x16.0x24.8x30.8x25.9x20.7x
P / B1.3x1.4x1.8x3.0x2.5x2.1x
P / S2.9x3.0x4.2x5.6x4.8x3.9x
EV / EBITDA12.0x12.6x16.5x20.0x17.0x14.6x
Growth
Revenue growth (YoY)4.6%9.2%-0.0%8.8%3.1%5.4%
Revenue CAGR (3y)4.5%5.9%3.9%5.8%4.7%-
Revenue CAGR (5y)5.1%5.2%4.6%---
Gross profit growth (YoY)------
Operating income growth (YoY)6.2%16.5%-6.1%7.2%-0.0%11.9%
Net income growth (YoY)11.9%22.1%-7.2%7.0%0.1%12.7%
EPS growth (YoY)11.6%18.6%-12.1%6.1%0.0%11.9%
EPS CAGR (3y)5.2%3.4%-2.3%5.9%5.1%5.8%
EPS CAGR (5y)4.3%4.4%1.6%4.7%4.9%7.3%
FCF growth (YoY)-102.9%69.9%-25.2%-154.8%31.7%36.2%
FCF CAGR (5y)------
Book value growth (YoY)4.5%3.8%22.6%5.6%5.1%5.7%

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2025-12-31.

Business segments

$218.71M total
Regulated Utility$105.51M · 48.2%
Reportable Segment Aggregation Before Other Operating Segment$105.51M · 48.2%
All Other Segments$7.70M · 3.5%

Product / service

$223.63M total
Water Sales$90.91M · 40.7%
Consumption Charges$60.18M · 26.9%
Fixed Fees$38.11M · 17.0%
Other Utility Operating Revenue$14.60M · 6.5%
Non Utility Operating Revenue$7.43M · 3.3%
Service Line Protection Plans$6.53M · 2.9%
Industrial Wastewater Services$1.96M · 0.9%
Contract Operations$1.04M · 0.5%
Metered Wastewater Services$842.0K · 0.4%
Inspection Fees$748.0K · 0.3%
Service Charges$699.0K · 0.3%
Distribution System Improvement Charge$534.0K · 0.2%
Design And Installation$47.0K · 0.0%

Stability scores

Piotroski F-score

FY 2025 · 9-point quality

6/9
Neutral
  • Net income positive
  • Operating cash flow positive
  • ROA improved YoY
  • Cash flow > net income
  • Long-term debt decreased
  • Current ratio improved
  • No share dilution
  • -Gross margin improved
  • Asset turnover improved

Peer comparison

Same SIC group: Water Supply

CompanyRevenue (last FY)Net marginROE
GWRS$55.76M5.3%3.4%
CWT$963.70M13.3%7.6%
YORW$77.49M25.9%8.3%
HTO$805.59M12.7%6.7%
AWR$658.07M19.8%12.5%

Comparing ARTESIAN RESOURCES CORP against the 5 most active filers in the same SIC group.

Dividends

$1.25/share trailing 12 months · +4.1% YoY

Ex-datePer share
May 15, 2026$0.3200
Feb 13, 2026$0.3140
Nov 14, 2025$0.3140
Aug 15, 2025$0.3070
May 16, 2025$0.3070
Feb 7, 2025$0.3010
Nov 15, 2024$0.3010
Aug 16, 2024$0.2960
May 16, 2024$0.2960
Feb 8, 2024$0.2900
Nov 15, 2023$0.2900
Aug 16, 2023$0.2840
May 18, 2023$0.2840
Feb 8, 2023$0.2780
Nov 10, 2022$0.2780
Aug 8, 2022$0.2730
May 6, 2022$0.2730
Feb 8, 2022$0.2680
Nov 5, 2021$0.2680
Aug 6, 2021$0.2610
May 6, 2021$0.2610
Feb 5, 2021$0.2570
Nov 6, 2020$0.2570
Aug 6, 2020$0.2500