Artesian Resources Corp. Class A Non-Voting Common Stock (ARTNA) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 26	$0.48	$0.57	+18.7%	—	$27.8M	—
Q3 25	$0.66	$0.68	+3.0%	—	$30.5M	—
Q2 25	$0.56	$0.61	+8.9%	—	$28.5M	—
Q1 25	$0.35	$0.53	+51.4%	—	$25.9M	—
Q4 24	$0.32	$0.37	+15.6%	—	$26.9M	—
Q3 24	$0.61	$0.66	+8.2%	—	$29.1M	—
Q2 24	$0.54	$0.52	-3.7%	—	$27.4M	—
Q1 24	$0.42	$0.43	+2.4%	—	$24.5M	—
Q4 23	$0.31	$0.34	+9.7%	—	$24.5M	—
Q3 23	$0.48	$0.49	+2.1%	—	$26.6M	—
Q2 23	$0.37	$0.44	+18.9%	—	$25.3M	—
Q1 23	$0.5	$0.39	-22.0%	—	$22.5M	—
Q4 22	$0.27	$0.24	-11.1%	—	$25.1M	—
Q3 22	$0.58	$0.65	+12.1%	—	$26.6M	—
Q2 22	$0.5	$0.53	+6.0%	—	$25M	—
Q1 22	$0.49	$0.47	-4.1%	—	$22.2M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$2.21	—	—	$112.9M	—
FY24	—	$1.98	—	—	$108M	—
FY23	—	$1.67	—	—	$98.9M	—
FY22	—	$1.9	—	—	$98.9M	—

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$79.1M	$82.2M	$80.4M	$83.6M	$88.1M	$90.9M	$98.9M	$98.9M	$108M	$112.9M
YoY change	+2.68%	+3.98%	-2.22%	+3.96%	+5.44%	+3.08%	+8.85%	-0.04%	+9.2%	+4.62%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	79.1M	82.2M	80.4M	83.6M	88.1M	90.9M	98.9M	98.9M	108M	112.9M
Cost of revenue	38.3M	41.1M	41.2M	42.5M	43.6M	45.4M	50.6M	50.6M	54.5M	57.1M
Gross profit	40.8M	41.2M	39.2M	41.1M	44.5M	45.5M	48.3M	48.2M	53.4M	55.8M
Gross margin	51.6%	50.1%	48.8%	49.2%	50.5%	50.1%	48.8%	48.8%	49.5%	49.4%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	—	—	—	—	—	—	—	—	—	—
Operating expenses	-222K	-334K	-622K	—	—	—	—	—	—	—
Operating income	27.1M	26.9M	23.9M	25.1M	28M	28M	29.8M	28.8M	33.5M	35.6M
Operating margin	34.3%	32.7%	29.8%	30%	31.7%	30.9%	30.1%	29.1%	31%	31.5%
Non-operating income, net	779K	560K	1.6M	2M	2.1M	2.1M	2.6M	3.4M	3M	3.7M
Pretax income	21.3M	21.3M	19.3M	20.1M	22.5M	22.6M	23.9M	23M	27.7M	30.7M
Income tax	8.3M	7.3M	5M	5.2M	5.7M	5.7M	5.9M	6.3M	7.3M	7.8M
Net income	13M	14M	14.3M	14.9M	16.8M	16.8M	18M	16.7M	20.4M	22.8M
Net margin	16.4%	17%	17.8%	17.9%	19.1%	18.5%	18.2%	16.9%	18.9%	20.2%
EBITDA	36.9M	36.7M	35.2M	36.5M	40.1M	41.2M	43.7M	43.5M	48.5M	50.8M
EPS	1.42	1.52	1.55	1.61	1.8	1.79	1.9	1.67	1.98	2.21
Diluted EPS	1.41	1.51	1.54	1.6	1.79	1.79	1.9	1.67	1.98	2.21

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	26.6M	24.5M	24.5M	27.4M	29.1M	26.9M	25.9M	28.5M	30.5M	28M	27.8M	—
Cost of revenue	12.7M	12.8M	13.1M	13.3M	13.3M	14.8M	13.4M	13.5M	14.7M	15.5M	14.4M	—
Gross profit	13.9M	11.7M	11.5M	14.1M	15.8M	12M	12.4M	15M	15.8M	12.5M	13.4M	—
Gross margin	52.2%	47.8%	46.7%	51.4%	54.2%	44.9%	48.1%	52.7%	51.8%	44.8%	48.3%	—
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	—	—	—	—	—	—	—	—	—	—	—	—
Operating expenses	—	—	—	—	—	—	—	-619K	—	—	—	—
Operating income	8.9M	6.7M	6.4M	9.1M	10.9M	7M	7.4M	10.6M	11.1M	7.1M	8.3M	—
Operating margin	33.5%	27.3%	26.1%	33.3%	37.6%	26%	28.6%	37.3%	36.4%	25.4%	30%	—
Non-operating income, net	612K	162K	1.9M	302K	416K	446K	2.1M	-29K	536K	544K	1.9M	—
Pretax income	7.3M	4.7M	6.1M	7.3M	9.2M	5.2M	7.3M	8.5M	9.4M	5.5M	8M	—
Income tax	2.2M	1.2M	1.7M	1.9M	2.4M	1.3M	1.9M	2.2M	2.5M	1.3M	2.1M	—
Net income	5.1M	3.5M	4.4M	5.3M	6.8M	3.8M	5.4M	6.3M	7M	4.1M	5.9M	—
Net margin	19.1%	14.2%	18%	19.4%	23.4%	14.3%	21%	22%	22.8%	14.8%	21.4%	—
EBITDA	12.3M	10M	11.4M	12.5M	14.2M	10.4M	12.2M	14M	14.5M	10.6M	13.2M	—
EPS	0.49	—	0.43	0.52	0.66	0.37	0.53	0.61	0.68	—	0.58	0.64
Diluted EPS	0.49	—	0.43	0.52	0.66	0.37	0.53	0.61	0.68	—	0.57	0.64

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	290.6M	353.8M	322.2M	345.2M	345.8M	435.2M	554.3M	415.2M	325.5M	325.9M	355.2M
Enterprise value	401.2M	469.7M	455.5M	498.4M	517.3M	607.2M	751.3M	593.8M	503.5M	508.5M	533M
Shares outstanding	9.1M	9.2M	9.2M	9.3M	9.3M	9.4M	9.5M	10M	10.3M	10.3M	10.3M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	22.4	25.3	22.6	23.1	20.6	25.9	30.8	24.9	16	14.3	15.2
P/S	3.67	4.3	4.01	4.13	3.92	4.79	5.6	4.2	3.02	2.89	3.07
P/B	2.09	2.41	2.1	2.15	2.04	2.44	2.95	1.8	1.36	1.3	1.39
EV/EBITDA	10.9	12.8	12.9	13.6	12.9	14.7	17.2	13.6	10.4	10	10.6
EV/Sales	5.07	5.71	5.66	5.96	5.87	6.68	7.6	6.01	4.66	4.5	4.64
Earnings yield	4.46%	3.95%	4.43%	4.32%	4.86%	3.87%	3.25%	4.02%	6.27%	7%	6.59%
FCF yield	0.53%	-1.5%	-6.18%	-6.32%	-4.02%	-2.18%	-4.37%	-7.3%	-2.8%	-5.68%	-8.41%
PEG	—	—	—	—	—	—	—	—	—	—	1.61

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	51.6%	50.1%	48.8%	49.2%	50.5%	50.1%	48.8%	48.8%	49.5%	49.4%	48.3%
Operating margin	34.3%	32.7%	29.8%	30%	31.7%	30.9%	30.1%	29.1%	31%	31.5%	30%
Net margin	16.4%	17%	17.8%	17.9%	19.1%	18.5%	18.2%	16.9%	18.9%	20.2%	20.3%
ROE	9.32%	9.54%	9.32%	9.31%	9.93%	9.45%	9.58%	7.25%	8.53%	9.13%	9.43%
ROA	2.87%	2.83%	2.69%	2.66%	2.83%	2.69%	2.5%	2.18%	2.55%	2.68%	2.73%
ROIC	6.62%	6.73%	6.19%	5.94%	6.14%	5.97%	5.83%	5.1%	5.9%	6.13%	6.36%
Return on tangible assets	2.87%	2.83%	2.69%	2.66%	2.83%	2.69%	2.51%	2.19%	2.57%	2.69%	2.7%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.76	0.67	0.43	0.55	0.4	0.4	0.63	1.37	0.96	0.64	1.01
Quick ratio	0.68	0.61	0.39	0.51	0.37	0.35	0.52	1.1	0.79	0.52	0.89
Debt / equity	0.8	0.8	0.87	0.96	1.01	0.97	1.06	0.79	0.75	0.73	0.74
Debt / assets	0.25	0.24	0.25	0.27	0.29	0.28	0.28	0.24	0.22	0.21	0.22
Net debt / EBITDA	3	3.16	3.79	4.2	4.28	4.17	4.51	4.1	3.67	3.6	3.48
Interest coverage	4.2	4.44	4.08	3.86	3.95	3.97	3.81	3.52	4.16	4.53	4.58
Effective tax rate	39.1%	34.3%	25.9%	25.8%	25.3%	25.4%	24.6%	27.5%	26.4%	25.5%	25.6%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	8.69	8.96	8.7	9.01	9.45	9.67	10.5	9.87	10.5	11	11.1
EPS (basic)	1.42	1.52	1.55	1.61	1.8	1.79	1.9	1.67	1.98	2.21	2.21
EPS (diluted)	1.41	1.51	1.54	1.6	1.79	1.79	1.9	1.67	1.98	2.21	2.25
Book value per share	15.3	16	16.6	17.3	18.2	18.9	19.9	23	23.2	24.2	24.5
FCF per share	0.17	-0.58	-2.16	-2.35	-1.49	-1.01	-2.56	-3.03	-0.89	-1.79	-2.28
Cash per share	0.02	0.1	0.03	0.06	0	0.01	0.14	0.25	0.11	0.01	0.41
Capex per share	—	—	—	—	—	—	—	—	—	5.71	5.71

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	—	—	—	—	52.1%	52.1%
Capex / operating cash flow	—	—	—	—	—	—	—	—	—	145.9%	145.9%
Payout ratio	63.1%	60.8%	61.8%	61.1%	55.8%	58.4%	57.3%	67.3%	59.7%	55.5%	55.2%
Dividend yield	2.81%	2.4%	2.74%	2.64%	2.71%	2.26%	1.86%	2.71%	3.74%	3.89%	3.73%

Yield

3.73%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.3199

ex-dividend Aug 17, 2026

Payout ratio

55%

of earnings

Dividend growth

12 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 17, 2026	$0.3199
May 15, 2026	$0.3199
Feb 13, 2026	$0.3136

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$26.6M	$24.5M	$24.5M	$27.4M	$29.1M	$26.9M	$25.9M	$28.5M	$30.5M	$28M	$27.8M	—
YoY change	-0.05%	-2.28%	+9.11%	+8.57%	+9.68%	+9.4%	+5.47%	+4.13%	+4.63%	+4.34%	+7.29%	—

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	226K	952K	293K	596K	28K	92K	1.3M	2.5M	1.1M	52K
Receivables	5.4M	5.5M	5.6M	5.6M	6.7M	7.3M	6.5M	7.1M	8.2M	5.4M
Inventory	1.6M	1.5M	1.5M	1.3M	1.5M	1.9M	4.7M	6M	4.3M	3.7M
Total current assets	14.6M	19M	16.1M	14.2M	17.6M	18.7M	27.8M	30.6M	24.5M	21.4M
Property, plant & equipment	-84.3M	-85.7M	-78.2M	36.2M	-116M	-131.2M	-130M	-153.2M	-144.8M	-147.7M
Goodwill & intangibles	—	—	—	—	—	0	3.9M	3.9M	3.9M	3.9M
Total assets	451M	494.6M	529.8M	560.4M	593.2M	624.7M	719.8M	766.8M	798.6M	851.2M
Accounts payable	5.5M	8.9M	8.2M	8.2M	6.3M	10.2M	10.9M	9.7M	11.2M	14M
Short-term debt	8.5M	11.3M	17.8M	9.2M	28.7M	28.3M	22.2M	2.2M	2.2M	8M
Total current liabilities	19.3M	28.5M	37.7M	25.6M	43.7M	47.2M	44.1M	22.4M	25.6M	33.7M
Long-term debt	102.3M	105.6M	115.9M	144.6M	142.8M	143.7M	176.1M	178.8M	176.9M	174.7M
Total liabilities	312M	348M	376.6M	400.1M	423.8M	446.7M	531.9M	536.4M	559.4M	601.3M
Shareholders' equity	139M	146.6M	153.3M	160.3M	169.4M	178M	187.9M	230.4M	239.2M	249.9M
Total debt	110.8M	116.8M	133.6M	153.8M	171.4M	172M	198.3M	181.1M	179.1M	182.6M
Net debt	110.6M	115.9M	133.4M	153.2M	171.4M	171.9M	197M	178.5M	178M	182.6M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26
Cash & short-term investments	5.9M	6.5M	2.5M	9.5M	6.3M	10.7M	1.1M	3.7M	349K	705K	52K	4.3M
Receivables	8.1M	6.8M	7.1M	6.7M	8.5M	7.7M	8.2M	7.4M	8.7M	7.9M	5.4M	8.5M
Inventory	5.8M	5.5M	6M	4.9M	4.8M	4.5M	4.3M	5.5M	4.5M	4M	3.7M	3.3M
Total current assets	30.1M	33.9M	30.6M	30.8M	29.1M	34.3M	24.5M	25.2M	22.3M	19.6M	21.4M	26.5M
Property, plant & equipment	-175.5M	-177M	-153.2M	-184.6M	-181M	-184.5M	-144.8M	-191.8M	-194M	-195.1M	-147.7M	-201.7M
Goodwill & intangibles	3.9M	3.9M	3.9M	3.9M	3.9M	3.9M	3.9M	3.9M	3.9M	3.9M	3.9M	3.9M
Total assets	750.1M	761.8M	766.8M	775.4M	783.1M	796M	798.6M	808.9M	819.3M	833.9M	851.2M	866.9M
Accounts payable	9.2M	8.4M	9.7M	7.9M	7.8M	9.6M	11.2M	9.2M	10.4M	12.2M	14M	8.3M
Short-term debt	2.7M	7.3M	2.2M	2.3M	2.3M	6.3M	2.2M	2.6M	4.3M	2.6M	8M	2.6M
Total current liabilities	24.8M	27.2M	22.4M	21.7M	22.4M	28M	25.6M	25.6M	25.6M	29M	33.7M	26.2M
Long-term debt	176.1M	176.4M	178.8M	178.8M	178M	177.4M	176.9M	176.3M	175.5M	175.1M	174.7M	183.9M
Total liabilities	522.9M	532.2M	536.4M	543.4M	548.7M	557.7M	559.4M	567.2M	574.4M	585.1M	601.3M	614.1M
Shareholders' equity	227.3M	229.6M	230.4M	232M	234.4M	238.3M	239.2M	241.7M	244.9M	248.8M	249.9M	252.8M
Total debt	178.7M	183.6M	181.1M	181.1M	180.3M	183.6M	179.1M	178.9M	179.8M	177.6M	182.6M	186.4M
Net debt	172.8M	177.2M	178.5M	171.6M	174M	172.9M	178M	175.2M	179.5M	176.9M	182.6M	182.2M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	13M	14M	14.3M	14.9M	16.8M	16.8M	18M	16.7M	20.4M	22.8M
Depreciation & amortization	9.2M	9.6M	10.3M	10.8M	11.1M	11.9M	12.6M	13.3M	13.6M	13.8M
Stock-based compensation	92K	423K	192K	181K	178K	193K	152K	254K	219K	246K
Change in working capital	2.5M	1.8M	4.1M	-2.7M	-5.4M	1M	-8.3M	-2.8M	2.6M	4.5M
Operating cash flow	30M	33.7M	29.3M	19.5M	20M	32.5M	24.2M	30.4M	36.6M	40.3M
Capital expenditure	—	—	—	—	—	—	—	—	—	-58.8M
Investing cash flow	96K	87K	49K	51K	-5.7M	90K	-6.3M	99K	623K	-58.7M
Dividends paid	-8.2M	-8.5M	-8.8M	-9.1M	-9.4M	-9.8M	-10.3M	-11.2M	-12.2M	-12.7M
Share repurchases	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-5M	6M	19.2M	13.6M	19M	-1.4M	-9.3M	7.9M	7.1M	17.3M
Net change in cash	25.2M	39.8M	48.6M	33.1M	33.3M	31.2M	8.6M	38.4M	44.4M	-1.1M
Free cash flow	1.5M	-5.3M	-19.9M	-21.8M	-13.9M	-9.5M	-24.2M	-30.3M	-9.1M	-18.5M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26
Net income	4.4M	5.1M	3.5M	4.4M	5.3M	6.8M	3.8M	5.4M	6.3M	7M	4.1M	5.9M
Depreciation & amortization	3.2M	3.4M	3.5M	3.5M	3.4M	3.3M	3.5M	3.4M	3.4M	3.5M	3.5M	3.5M
Stock-based compensation	60K	69K	69K	68K	57K	47K	47K	46K	46K	60K	94K	92K
Change in working capital	-3.2M	-297K	-1.6M	3.4M	-3.4M	3.8M	-1.4M	48K	-174K	-559K	5.1M	-4M
Operating cash flow	4.8M	10.9M	5.7M	11.2M	5.4M	14.7M	5.3M	8.1M	7.9M	11M	10.5M	8.6M
Capital expenditure	—	—	—	—	—	—	—	—	-15.9M	-14.3M	-18.3M	-13.1M
Investing cash flow	11K	12K	23K	600K	12K	8K	3K	3K	-15.8M	-14.2M	-18.3M	-13.1M
Dividends paid	-2.5M	-3.1M	-3M	-3M	-3M	-3M	-3.1M	-3.1M	-3.2M	-3.2M	-3.2M	-3.2M
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-5.3M	8.9M	-2.5M	2.7M	-679K	6.3M	-1.3M	1.6M	4.5M	3.6M	7.2M	8.7M
Net change in cash	-446K	19.8M	3.3M	14.5M	4.8M	21M	4M	9.8M	-3.4M	356K	-653K	4.2M
Free cash flow	-10.8M	-8.4M	-4.8M	3.7M	-2.6M	-1.9M	-8.3M	560K	-7.9M	-3.3M	-7.9M	-4.5M

Date	Ratio
Jul 3, 2006	3:2
Jul 1, 2003	3:2

Artesian Resources Corp. Class A Non-Voting Common Stock Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history