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ARTNAArtesian Resources Corporation
$32.28$332M
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ARTNA logoArtesian Resources Corporation(ARTNA)Earnings, Financials & Key Ratios

ARTNA•NASDAQ•Utilities
14.6× P/E·Price updated Jun 19, 2026
SectorUtilitiesIndustryWater UtilitiesSub-IndustryRegulated Water and Wastewater Utilities
AboutArtesian Resources Corporation, through its subsidiaries, provides water, wastewater, and other services in Delaware, Maryland, and Pennsylvania. The company distributes and sells water to residential, commercial, industrial, governmental, municipal, and utility customers, as well as for public and private fire protection in the states of Delaware, Maryland, and Pennsylvania; and offers wastewater collection, treatment infrastructure, and wastewater services to customers in Delaware. It also provides contract water and wastewater services; water, sewer, and internal service line protection plans; and wastewater management services, as well as design, construction, and engineering services. In addition, the company offers services to other water utilities, including operations and billing functions; owns real estate properties, including land for office buildings, a water treatment plant, and wastewater facility; and provides design, installation, maintenance, and repair services related to existing or proposed storm water management systems. As of December 31, 2021, it served approximately 91,700 customers in Delaware, 2,500 customers in Maryland, and 40 customers in Pennsylvania through 1,368 miles of transmission and distribution mains. Artesian Resources Corporation was founded in 1905 and is headquartered in Newark, Delaware.Show more
  • Revenue$113M+4.6%
  • EBITDA$49M+24.2%
  • Net Income$23M+11.9%
  • Free Cash Flow-$18M-102.9%
  • EBITDA Margin43.76%+18.7%
  • Net Margin20.21%+7.0%
  • ROE9.33%+7.4%
  • Interest Coverage4.10-1.4%
  • Debt/Equity0.73-2.4%

ARTNA Key Insights

Artesian Resources Corporation (ARTNA) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Dividend Aristocrat: 32 years of consecutive increases
  • ✓32 years of consecutive dividend growth
  • ✓Strong interest coverage of 4.1x
  • ✓Healthy dividend yield of 3.8%
  • ✓Trading at only 1.3x book value

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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ARTNA Price & Volume

Artesian Resources Corporation (ARTNA) stock price & volume — 10-year historical chart

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ARTNA Growth Metrics

Artesian Resources Corporation (ARTNA) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years3.9%
5 Years5.08%
3 Years4.53%
TTM4.62%

Profit CAGR

10 Years7.28%
5 Years6.3%
3 Years8.24%
TTM11.9%

EPS CAGR

10 Years5.78%
5 Years4.31%
3 Years5.17%
TTM12.12%

Return on Capital

10 Years3.96%
5 Years3.77%
3 Years3.69%
Last Year4.48%

ARTNA Recent Earnings

Artesian Resources Corporation (ARTNA) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 11/12 qtrs (92%)●Beat Revenue 8/12 qtrs (67%)
Q2 2026Latest
May 5, 2026
Metric
Actual
Est
EPS
$0.57+18.8%
$0.48
Rev
$28M+2.9%
$27M
Q2 2026
Mar 12, 2026
Metric
Actual
Est
EPS
$0.40+8.1%
$0.37
Rev
$28M+0.1%
$28M
Q4 2025
Oct 30, 2025
Metric
Actual
Est
EPS
$0.68+3.0%
$0.66
Rev
$30M+8.9%
$28M
Q3 2025
Aug 4, 2025
Metric
Actual
Est
EPS
$0.61+8.9%
$0.56
Rev
$29M-4.8%
$30M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 5, 2026
$0.57vs $0.48+18.8%
$28Mvs $27M+2.9%
Q2 2026Mar 12, 2026
$0.40vs $0.37+8.1%
$28Mvs $28M+0.1%
Q4 2025Oct 30, 2025
$0.68vs $0.66+3.0%
$30Mvs $28M+8.9%
Q3 2025Aug 4, 2025
$0.61vs $0.56+8.9%
$29Mvs $30M-4.8%
Based on last 12 quarters of dataView full earnings history →

ARTNA Peer Comparison

Artesian Resources Corporation (ARTNA) competitors in Regulated Water and Wastewater Utilities — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
Institutional Holdings
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
MSEX logoMSEXMiddlesex Water CompanyDirect Competitor967.35M52.0622.061.47%22.07%9.07%0.85
YORW logoYORWThe York Water CompanyDirect Competitor425.59M29.5321.243.37%8.89%0.97
GWRS logoGWRSGlobal Water Resources, Inc.Direct Competitor203.93M7.0964.455.82%3.53%2.37%1.60
AWR logoAWRAmerican States Water CompanyProduct Competitor3.02B77.1122.8810.52%19.66%13.06%0.90
AWK logoAWKAmerican Water Works Company, Inc.Product Competitor24.42B125.0721.949.74%21.17%10.14%1.47
CWT logoCWTCalifornia Water Service GroupProduct Competitor2.7B45.2021.02-3.54%11.77%6.95%0.95
WTRG logoWTRGEssential Utilities, Inc.Product Competitor10.41B36.7016.6818.62%21.82%8.16%1.22
XYL logoXYLXylem Inc.Supply Chain26.48B111.4228.425.52%10.7%8.51%0.17

Compare ARTNA vs Peers

Artesian Resources Corporation (ARTNA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs MSEX

Most directly comparable listed peer for ARTNA.

Scale Benchmark

vs NEE

Larger-name benchmark to compare ARTNA against a more recognizable public peer.

Peer Set

Compare Top 5

vs MSEX, YORW, GWRS, AWR

ARTNA Income Statement

Artesian Resources Corporation (ARTNA) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Revenue
82.23M80.41M83.59M88.14M90.86M98.9M98.86M107.95M112.94M
Revenue Growth %
3.98%-2.22%3.96%5.44%3.08%8.85%-0.04%9.2%4.62%
Cost of Revenue
41.05M41.21M42.5M43.62M45.36M50.62M50.63M54.54M70.93M
Gross Profit
41.18M▲ 0%
39.2M▼ 4.8%
41.09M▲ 4.8%
44.53M▲ 8.4%
45.5M▲ 2.2%
48.27M▲ 6.1%
48.23M▼ 0.1%
53.41M▲ 10.8%
42.01M▼ 21.4%
Gross Margin %
50.08%48.75%49.15%50.52%50.08%48.81%48.78%49.48%37.2%
Gross Profit Growth %
0.86%-4.81%4.82%8.36%2.19%6.09%-0.1%10.75%-21.35%
Operating Expenses
14.29M15.26M21.17M22.23M23.21M24.37M25.78M27.26M6.4M
Other Operating Expenses
---------
EBITDA
29.16M29.24M30.73M33.44M34.18M36.53M35.78M39.78M49.42M
EBITDA Margin %
35.45%36.37%36.76%37.94%37.62%36.93%36.19%36.85%43.76%
EBITDA Growth %
4.1%0.3%5.08%8.82%2.22%6.87%-2.04%11.18%24.23%
Depreciation & Amortization
9.55M10.29M10.8M11.14M11.88M12.62M13.34M13.63M13.81M
D&A / Revenue %
11.62%12.79%12.92%12.64%13.08%12.76%13.49%12.63%12.22%
Operating Income (EBIT)
19.6M▲ 0%
18.95M▼ 3.3%
19.93M▲ 5.1%
22.3M▲ 11.9%
22.29M▼ 0.0%
23.91M▲ 7.2%
22.45M▼ 6.1%
26.15M▲ 16.5%
35.61M▲ 36.2%
Operating Margin %
23.83%23.57%23.84%25.29%24.54%24.17%22.7%24.22%31.53%
Operating Income Growth %
4.15%-3.29%5.12%11.89%-0%7.23%-6.11%16.51%36.18%
Interest Expense
6.18M6.25M7.02M7.62M7.59M8.5M9.16M8.78M8.69M
Interest Coverage
4.35x3.83x3.86x3.67x3.69x3.50x3.14x4.16x4.10x
Interest / Revenue %
7.51%7.78%8.4%8.64%8.36%8.6%9.26%8.13%7.69%
Non-Operating Income
1000K314K181K206K270K-30K601K1000K-1000K
Pretax Income
21.28M▲ 0%
19.27M▼ 9.4%
20.11M▲ 4.3%
22.5M▲ 11.9%
22.56M▲ 0.3%
23.88M▲ 5.8%
23.05M▼ 3.5%
27.71M▲ 20.2%
30.65M▲ 10.6%
Pretax Margin %
25.87%23.96%24.05%25.53%24.83%24.14%23.31%25.67%27.14%
Income Tax
7.29M4.99M5.18M5.68M5.74M5.88M6.35M7.32M7.83M
Effective Tax Rate %
34.28%25.9%25.77%25.26%25.43%24.62%27.54%26.4%25.55%
Net Income
13.98M▲ 0%
14.28M▲ 2.1%
14.93M▲ 4.5%
16.82M▲ 12.7%
16.83M▲ 0.1%
18M▲ 7.0%
16.7M▼ 7.2%
20.39M▲ 22.1%
22.82M▲ 11.9%
Net Margin %
17%17.76%17.85%19.08%18.52%18.2%16.89%18.89%20.21%
Net Income Growth %
7.94%2.11%4.53%12.68%0.06%6.96%-7.22%22.13%11.91%
EPS (Diluted)
1.51▲ 0%
1.54▲ 2.0%
1.60▲ 3.9%
1.79▲ 11.9%
1.79▲ 0.0%
1.90▲ 6.1%
1.67▼ 12.1%
1.98▲ 18.6%
2.21▲ 11.6%
EPS Growth %
7.09%1.99%3.9%11.88%0%6.15%-12.11%18.56%11.62%
EPS (Basic)
1.521.551.611.801.791.901.671.982.21
Diluted Shares Outstanding
9.24M9.29M9.33M9.37M9.43M9.48M10.02M10.3M10.31M

ARTNA Balance Sheet

Artesian Resources Corporation (ARTNA) balance sheet — assets, liabilities & shareholders' equity

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Assets
494.64M529.83M561.09M593.22M625.31M720.3M766.83M798.62M851.23M
Asset Growth %
9.68%7.11%5.9%5.73%5.41%15.19%6.46%4.15%6.59%
PP&E (Net)
464.38M502.53M535.01M563.82M594.63M672.24M718.48M751.2M801.69M
PP&E / Total Assets %
93.88%94.85%95.35%95.04%95.09%93.33%93.69%94.06%94.18%
Total Current Assets
18.98M16.12M14.21M17.62M18.66M27.8M30.62M24.53M21.42M
Cash & Equivalents
952K293K596K28K92K1.31M2.5M1.15M52K
Receivables
1000K1000K1000K1000K1000K1000K1000K1000K1000K
Inventory
1.52M1.46M1.26M1.53M1.93M4.7M5.98M4.28M0
Other Current Assets
2.04M2.12M2.25M2.21M2.65M2.88M3.3M3.09M9.2M
Long-Term Investments
3.36M3.61M3.97M4.37M4.85M10.34M8.38M6.42M9.48M
Goodwill
000623K01.94M1.94M1.94M1.94M
Intangible Assets
000000000
Other Assets
-42.87M-43.87M7.18M-43.53M6.57M7.47M7.42M14.53M16.69M
Total Liabilities
348M376.58M400.82M423.79M447.3M532.37M536.43M559.43M601.31M
Total Debt
116.54M133.53M153.85M171.34M172.03M198.31M181.06M179.11M182.65M
Net Debt
115.59M133.24M153.25M171.31M171.94M197M178.56M177.96M182.59M
Long-Term Debt
105.59M115.86M144.16M142.33M143.26M175.62M178.31M176.51M174.28M
Short-Term Borrowings
11.26M17.78M9.24M28.57M28.33M22.22M2.24M2.2M7.96M
Capital Lease Obligations
00450K537K440K466K512K412K407K
Total Current Liabilities
28.46M37.73M25.6M43.72M47.21M44.07M22.41M25.59M33.72M
Accounts Payable
8.85M8.19M8.18M6.34M10.21M10.93M9.7M11.23M14.02M
Accrued Expenses
4.69M4.69M04.34M005.79M6.27M0
Deferred Revenue
969K1.04M02.06M002.98M3.35M0
Other Current Liabilities
2.69M7.07M7.84M2.07M8.67M10.91M1.69M2.05M11.35M
Deferred Taxes
1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Liabilities
213.95M222.99M177.15M186.52M202.21M256.71M276.41M304.25M337.75M
Total Equity
146.64M▲ 0%
153.25M▲ 4.5%
160.27M▲ 4.6%
169.43M▲ 5.7%
178.01M▲ 5.1%
187.93M▲ 5.6%
230.4M▲ 22.6%
239.19M▲ 3.8%
249.92M▲ 4.5%
Equity Growth %
5.48%4.51%4.58%5.71%5.07%5.57%22.6%3.82%4.49%
Shareholders Equity
146.64M153.25M160.27M169.43M178.01M187.93M230.4M239.19M249.92M
Minority Interest
000000000
Common Stock
9.21M9.25M9.29M9.36M9.41M9.5M10.29M10.3M10.32M
Additional Paid-in Capital
99.53M100.64M101.81M103.46M104.99M107.14M143.37M143.92M144.49M
Retained Earnings
37.9M43.36M49.16M56.61M63.61M71.29M76.74M84.97M95.11M
Accumulated OCI
-117.56M-126.85M0000000
Return on Assets (ROA)
2.96%2.79%2.74%2.91%2.76%2.68%2.25%2.61%2.77%
Return on Equity (ROE)
9.79%9.52%9.52%10.2%9.69%9.84%7.98%8.69%9.33%
Debt / Equity
0.79x0.87x0.96x1.01x0.97x1.06x0.79x0.75x0.73x
Debt / Assets
23.56%25.2%27.42%28.88%27.51%27.53%23.61%22.43%21.46%
Net Debt / EBITDA
3.96x4.56x4.99x5.12x5.03x5.39x4.99x4.47x3.69x
Book Value per Share
15.8716.4917.1918.0818.8819.8222.9923.2324.24

ARTNA Cash Flow Statement

Artesian Resources Corporation (ARTNA) cash flow — operating, investing & free cash flow history

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations
35.78M29.14M18.87M20.36M31.31M24.27M31.85M36.82M40.35M
Operating CF Growth %
20.15%-18.55%-35.25%7.89%53.8%-22.5%31.26%15.61%9.57%
Operating CF / Revenue %
43.51%36.24%22.57%23.1%34.46%24.54%32.22%34.11%35.72%
Net Income
13.98M14.28M14.93M16.82M16.83M18M16.7M20.39M22.82M
Depreciation & Amortization
9.55M10.29M10.8M11.14M11.88M12.62M13.34M13.63M13.81M
Deferred Taxes
8.21M899K-2.81M-1.96M2.8M2.28M3.81M564K0
Other Non-Cash Items
-227K-427K-886K-781K-556K-894K-796K-549K30K
Working Capital Changes
3.84M3.91M-3.34M-5.04M158K-7.89M-1.45M2.57M3.44M
Capital Expenditures
-41.09M-49.05M-40.68M-34.28M-40.81M-48.48M-62.18M-45.94M-58.84M
CapEx / Revenue %
49.97%61%48.66%38.89%44.92%49.02%62.89%42.56%52.1%
CapEx / D&A
4.30x4.77x3.77x3.08x3.43x3.84x4.66x3.37x4.26x
CapEx Coverage (OCF/CapEx)
0.87x0.59x0.46x0.59x0.77x0.50x0.51x0.80x0.69x
Cash from Investing
-41.01M-49M-40.63M-39.97M-40.72M-54.76M-62.08M-45.32M-58.72M
Acquisitions
87K49K51K-5.74M90K-6.34M00129K
Purchase of Investments
000000000
Sale of Investments
000000000
Other Investing
87K49K046K065K99K623K0
Cash from Financing
5.95M19.2M22.06M19.05M9.48M31.71M31.42M7.14M17.27M
Dividends Paid
-8.5M-8.82M-9.12M-9.38M-9.83M-10.32M-11.24M-12.17M-12.68M
Dividend Payout Ratio %
60.76%61.77%61.12%55.75%58.39%57.33%67.32%59.66%55.55%
Debt Issuance (Net)
1000K1000K1000K1000K1000K1000K-1000K-1000K1000K
Stock Issued
1.71M956K1.03M1.54M1.39M2.09M37.07M347K342K
Share Repurchases
000000000
Other Financing
13.19M11.04M11.35M9.25M15.8M16.3M22.52M20.44M26.09M
Net Change in Cash
726K▲ 0%
-659K▼ 190.8%
303K▲ 146.0%
-568K▼ 287.5%
64K▲ 111.3%
1.22M▲ 1801.6%
1.2M▼ 1.7%
-1.36M▼ 213.5%
-1.09M▲ 19.4%
Exchange Rate Effect
000000000
Cash at Beginning
226K952K293K596K28K92K1.31M2.5M1.15M
Cash at End
952K293K596K28K92K1.31M2.5M1.15M52K
Free Cash Flow
-5.32M▲ 0%
-19.91M▼ 274.6%
-21.81M▼ 9.5%
-13.92M▲ 36.2%
-9.5M▲ 31.7%
-24.22M▼ 154.8%
-30.33M▼ 25.2%
-9.12M▲ 69.9%
-18.5M▼ 102.9%
FCF Growth %
-447.84%-274.64%-9.52%36.17%31.72%-154.82%-25.22%69.93%-102.86%
FCF Margin %
-6.46%-24.76%-26.09%-15.79%-10.46%-24.49%-30.68%-8.45%-16.38%
FCF / Net Income %
-38.01%-139.46%-146.11%-82.77%-56.48%-134.56%-181.6%-44.71%-81.06%

ARTNA Key Ratios

Artesian Resources Corporation (ARTNA) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)
9.55%9.79%9.52%9.52%10.2%9.69%9.84%7.98%8.69%9.33%
EBITDA Margin
35.41%35.45%36.37%36.76%37.94%37.62%36.93%36.19%36.85%43.76%
Net Debt / EBITDA
3.95x3.96x4.56x4.99x5.12x5.03x5.39x4.99x4.47x3.69x
Interest Coverage
4.09x4.35x3.83x3.86x3.67x3.69x3.50x3.14x4.16x4.10x
CapEx / Revenue
35.72%49.97%61%48.66%38.89%44.92%49.02%62.89%42.56%52.1%
Dividend Payout Ratio
63.15%60.76%61.77%61.12%55.75%58.39%57.33%67.32%59.66%55.55%
Debt / Equity
0.80x0.79x0.87x0.96x1.01x0.97x1.06x0.79x0.75x0.73x
EPS Growth
11.9%7.09%1.99%3.9%11.88%0%6.15%-12.11%18.56%11.62%
Related:ARTNA Dividend History·ARTNA Revenue History·ARTNA Price History·ARTNA P/E History·ARTNA Financial Ratios·ARTNA Institutional Holders

ARTNA SEC Filings & Documents

Artesian Resources Corporation (ARTNA) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 7, 2026·SEC

Material company update

May 6, 2026·SEC

Material company update

Mar 13, 2026·SEC

10-K Annual Reports

5
FY 2026

Mar 16, 2026·SEC

FY 2025

Mar 26, 2025·SEC

FY 2024

Mar 18, 2024·SEC

10-Q Quarterly Reports

6
FY 2025

Nov 7, 2025·SEC

FY 2025

Aug 8, 2025·SEC

FY 2025

May 9, 2025·SEC

ARTNA Frequently Asked Questions

Artesian Resources Corporation (ARTNA) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Artesian Resources Corporation (ARTNA) reported $112.9M in revenue for fiscal year 2025. This represents a 440% increase from $20.9M in 1996.

Artesian Resources Corporation (ARTNA) grew revenue by 4.6% over the past year. Growth has been modest.

Yes, Artesian Resources Corporation (ARTNA) is profitable, generating $22.8M in net income for fiscal year 2025 (20.2% net margin).

Dividend & Returns

Yes, Artesian Resources Corporation (ARTNA) pays a dividend with a yield of 3.81%. This makes it attractive for income-focused investors.

Artesian Resources Corporation (ARTNA) has a return on equity (ROE) of 9.3%. This is below average, suggesting room for improvement.

Artesian Resources Corporation (ARTNA) generated $3.7M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Industry Metrics

Artesian Resources Corporation (ARTNA) has a dividend payout ratio of 56%. This suggests the dividend is well-covered and sustainable.

What if you invested $1,000 in ARTNA back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

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How much would $100/month in ARTNA be worth today?

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