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.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 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 item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 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 item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 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
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | 24.6% | 24.2% | 22.7% | 24.2% | 24.5% | 25.3% |
| EBITDA margin | 36.8% | 36.8% | 36.2% | 36.9% | 37.6% | 37.9% |
| Net margin | 20.2% | 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 rate | 25.5% | 26.4% | 27.5% | 24.6% | 25.4% | 25.3% |
| Return on assets | 2.7% | 2.6% | 2.2% | 2.5% | 2.7% | 2.8% |
| Return on equity | 9.1% | 8.5% | 7.2% | 9.6% | 9.5% | 9.9% |
| Return on invested capital | 4.9% | 4.6% | 4.0% | 5.0% | 5.2% | 5.3% |
| Liquidity | ||||||
| Current ratio | 0.64 | 0.96 | 1.37 | 0.63 | 0.40 | 0.40 |
| Quick ratio | 0.64 | 0.96 | 1.37 | 0.63 | 0.40 | 0.40 |
| Cash ratio | 0.00 | 0.04 | 0.11 | 0.03 | 0.00 | 0.00 |
| Leverage | ||||||
| Debt / Equity | 0.70 | 0.74 | 0.77 | 0.93 | 0.80 | 0.84 |
| Debt / Assets | 0.20 | 0.22 | 0.23 | 0.24 | 0.23 | 0.24 |
| Debt / EBITDA | 4.19 | 4.44 | 4.98 | 4.81 | 4.19 | 4.26 |
| Interest coverage | 3.2x | 3.0x | 2.5x | 2.8x | 2.9x | 2.9x |
| Equity multiplier | 3.41 | 3.34 | 3.33 | 3.83 | 3.51 | 3.50 |
| Liabilities / Assets | - | - | - | - | - | - |
| Efficiency | ||||||
| Asset turnover | 0.13 | 0.14 | 0.13 | 0.14 | 0.15 | 0.15 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 31d | 38d | 47d | 50d | 36d | 42d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 14.3x | 16.0x | 24.8x | 30.8x | 25.9x | 20.7x |
| P / B | 1.3x | 1.4x | 1.8x | 3.0x | 2.5x | 2.1x |
| P / S | 2.9x | 3.0x | 4.2x | 5.6x | 4.8x | 3.9x |
| EV / EBITDA | 12.0x | 12.6x | 16.5x | 20.0x | 17.0x | 14.6x |
| 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 totalRegulated 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 totalWater 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
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-date | Per 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 |