A Business at a Glance
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ARTESIAN RESOURCES CORP
ARTNA
$356M
Mkt Cap
$34.45
+1.56%
ARTESIAN RESOURCES CORP (ARTNA) has a current P/E ratio of 15.8, compared to its historical median P/E of 19.7. The stock is currently considered Cheap based on its historical valuation range.
ARTESIAN RESOURCES CORP (ARTNA) has a 5-year average return on invested capital (ROIC) of 4.8%. This is below average and may indicate limited pricing power.
ARTESIAN RESOURCES CORP (ARTNA) has a market capitalization of $356M. It is classified as a small-cap stock.
Yes, ARTESIAN RESOURCES CORP (ARTNA) pays a dividend with a trailing twelve-month yield of 3.56%.
Based on historical P/E analysis, ARTESIAN RESOURCES CORP (ARTNA) appears cheap. The current P/E of 15.8 is 20% below its historical median of 19.7. The estimated fair value CAGR (P/E method) is 3.0%.
ARTESIAN RESOURCES CORP (ARTNA) operates in the Water Supply industry, within the Utilities sector.
ARTESIAN RESOURCES CORP (ARTNA) reported annual revenue of $113 million in its most recent fiscal year, based on SEC EDGAR filings.
General Information Artesian Resources Corporation, or Artesian Resources, is a Delaware corporation incorporated in 1927, that is the holding company of seven wholly-owned subsidiaries offering water, wastewater and other services in Delaware, Maryland and Pennsylvania. The Company’s principal executive offices are located at 664 Churchmans Road, Newark, Delaware 19702. Our principal subsidiary, Artesian Water Company, Inc., is the oldest and largest investor-owned public water utility on the Delmarva Peninsula and has been providing superior water service since 1905. We distribute and sell water, including water for public and private fire protection, to residential, commercial, industrial, municipal and utility customers in the states of Delaware, Maryland and Pennsylvania. We provide wastewater services to customers in Delaware. In addition, we provide contract water and wastewater operations, and water, sewer and internal Service Line Protection Plans.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 113M | 113M | 108M | 99M | 99M | 91M |
| Net Income | 23M | 23M | 20M | 17M | 18M | 17M |
| EPS | $2.21 | $2.21 | $1.98 | $1.67 | $1.90 | $1.79 |
| Free Cash Flow | -18M | -18M | -9.1M | -30M | -24M | -9.5M |
| ROIC | 4.8% | 4.9% | 4.7% | 4.2% | 5.2% | 5.2% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.71 | 0.71 | 0.75 | 0.79 | 0.95 | 0.82 |
| Dividends/Share | $1.23 | $1.23 | $1.18 | $1.14 | $1.09 | $1.05 |
| Operating Income | 28M | 28M | 26M | 22M | 24M | 22M |
| Operating Margin | 24.6% | 24.6% | 24.2% | 22.7% | 24.2% | 24.5% |
| ROE | 9.1% | 9.3% | 8.7% | 8.0% | 9.8% | 9.7% |
| Shares Outstanding | 10M | 10M | 10M | 10M | 9M | 9M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 72M | 77M | 79M | 82M | 80M | 84M | 88M | 91M | 99M | 99M | 108M | 113M | 113M |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | 16M | 18M | 19M | 20M | 19M | 20M | 22M | 22M | 24M | 22M | 26M | 28M | 28M |
| Op. Margin | 22.1% | 22.8% | 23.8% | 23.8% | 23.6% | 23.8% | 25.3% | 24.5% | 24.2% | 22.7% | 24.2% | 24.6% | 24.6% |
| Net Income | 9.5M | 11M | 13M | 14M | 14M | 15M | 17M | 17M | 18M | 17M | 20M | 23M | 23M |
| Net Margin | 13.1% | 14.7% | 16.4% | 17.0% | 17.8% | 17.9% | 19.1% | 18.5% | 18.2% | 16.9% | 18.9% | 20.2% | 20.2% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 4.2% | 4.5% | 4.8% | 5.2% | 5.4% | 5.1% | 4.9% | 5.2% | 5.2% | 4.2% | 4.7% | 4.9% | 4.8% |
| ROE | 7.7% | 8.8% | 9.5% | 9.8% | 9.5% | 9.5% | 9.9% | 9.7% | 9.8% | 8.0% | 8.7% | 9.3% | 9.1% |
| ROA | 2.3% | 2.6% | 2.9% | 3.0% | 2.8% | 2.7% | 2.8% | 2.8% | 2.7% | 2.2% | 2.6% | 2.8% | 2.7% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 18M | 28M | 30M | 36M | 29M | 19M | 20M | 31M | 24M | 32M | 37M | 40M | 40M |
| Free Cash Flow | -5.3M | 7.7M | 1.5M | -5.3M | -20M | -22M | -14M | -9.5M | -24M | -30M | -9.1M | -18M | -18M |
| Owner Earnings | 9.7M | 19M | 20M | 26M | 19M | 7.9M | 9.0M | 19M | 11M | 18M | 23M | 26M | 26M |
| CapEx | 24M | 21M | 28M | 41M | 49M | 41M | 34M | 41M | 48M | 62M | 46M | 59M | 59M |
| Maint. CapEx | 8.7M | 8.8M | 9.2M | 9.6M | 10M | 11M | 11M | 12M | 13M | 13M | 14M | 14M | 14M |
| Growth CapEx | 15M | 12M | 19M | 32M | 39M | 30M | 23M | 29M | 36M | 49M | 32M | 45M | 45M |
| D&A | 8.7M | 8.8M | 9.2M | 9.6M | 10M | 11M | 11M | 12M | 13M | 13M | 14M | 14M | 14M |
| CapEx/OCF | 129.3% | 72.8% | 94.9% | 114.9% | 168.3% | 215.6% | 168.4% | 130.4% | 199.8% | 195.2% | 124.8% | N/A | 145.9% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 7.5M | 7.8M | 8.2M | 8.5M | 8.8M | 9.1M | 9.4M | 9.8M | 10M | 11M | 12M | 13M | 13M |
| Dividend Yield | 5.4% | 5.2% | 3.9% | 3.2% | 3.2% | 3.2% | 3.2% | 3.0% | 2.4% | 2.5% | 3.5% | N/A | 3.6% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% | 0.0% |
| Stock-Based Comp | 135K | 183K | 92K | 423K | 192K | 181K | 178K | 193K | 152K | 254K | 219K | 246K | 246K |
| Debt Repayment | 1.1M | 1.3M | 1.3M | 1.2M | 1.3M | 1.7M | 1.8M | 1.8M | 1.6M | 2.0M | 2.3M | 2.3M | 2.3M |
| Balance Sheet | |||||||||||||
| Net Debt | 106M | 105M | 103M | 106M | 117M | 146M | 171M | 145M | 177M | 179M | 178M | 177M | 177M |
| Cash & Equiv. | 243K | 209K | 226K | 952K | 293K | 596K | 28K | 92K | 1.3M | 2.5M | 1.1M | 52K | 52K |
| Long-Term Debt | 105M | 104M | 102M | 106M | 116M | 144M | 142M | 143M | 176M | 178M | 177M | 174M | 174M |
| Debt/Equity | 0.85 | 0.79 | 0.75 | 0.73 | 0.77 | 0.91 | 1.01 | 0.82 | 0.95 | 0.79 | 0.75 | 0.71 | 0.71 |
| Interest Coverage | 2.2 | 2.5 | 2.8 | 3.2 | 3.0 | 2.8 | 2.9 | 2.9 | 2.8 | 2.5 | 3.0 | 3.2 | 3.2 |
| Equity | 126M | 132M | 139M | 147M | 153M | 160M | 169M | 178M | 188M | 230M | 239M | 250M | 250M |
| Total Assets | 422M | 432M | 451M | 495M | 530M | 560M | 593M | 625M | 720M | 767M | 799M | 851M | 851M |
| Total Liabilities | 65M | 68M | 72M | 55M | 56M | 53M | 424M | 51M | 55M | 59M | 60M | 62M | 62M |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | 24M | 28M | 32M | 38M | 43M | 49M | 57M | 64M | 71M | 77M | 85M | 95M | 95M |
| Working Capital | -14M | -8.0M | -4.7M | -9.5M | -22M | -11M | -26M | -29M | -16M | 8.2M | -1.1M | -12M | -12M |
| Current Assets | 17M | 14M | 15M | 19M | 16M | 14M | 18M | 19M | 28M | 31M | 25M | 21M | 21M |
| Current Liabilities | 30M | 22M | 19M | 28M | 38M | 26M | 44M | 47M | 44M | 22M | 26M | 34M | 34M |
| Per Share Data | |||||||||||||
| EPS | 1.07 | 1.26 | 1.41 | 1.51 | 1.54 | 1.60 | 1.79 | 1.79 | 1.90 | 1.67 | 1.98 | 2.21 | 2.21 |
| Owner EPS | 1.09 | 2.16 | 2.23 | 2.79 | 2.01 | 0.85 | 0.96 | 2.05 | 1.21 | 1.83 | 2.23 | 2.55 | 2.55 |
| Book Value | 14.14 | 14.75 | 15.13 | 15.84 | 16.53 | 17.18 | 18.03 | 18.94 | 19.84 | 23.04 | 23.22 | 24.20 | 24.20 |
| Cash Flow/Share | 2.08 | 3.17 | 3.24 | 3.86 | 3.14 | 2.02 | 2.17 | 3.33 | 2.56 | 3.19 | 3.58 | 3.91 | 3.55 |
| Dividends/Share | 0.85 | 0.87 | 0.90 | 0.93 | 0.95 | 0.98 | 1.01 | 1.05 | 1.09 | 1.14 | 1.18 | 1.23 | 1.23 |
| Shares Out. | 8.9M | 9.0M | 9.2M | 9.3M | 9.3M | 9.3M | 9.4M | 9.4M | 9.5M | 10.0M | 10.3M | 10.3M | 10.3M |
| Valuation | |||||||||||||
| P/E Ratio | 15.1 | 17.2 | 17.7 | 20.6 | 18.6 | 19.7 | 18.1 | 23.2 | 27.8 | 23.9 | 15.3 | N/A | 15.6 |
| P/FCF | N/A | 25.3 | 149.9 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | 15.5 | 17.0 | 17.7 | 20.1 | 20.1 | 22.0 | 20.0 | 24.0 | 28.2 | 25.6 | 18.6 | N/A | 19.2 |
| Price/Book | 1.1 | 1.5 | 1.6 | 2.0 | 1.7 | 1.8 | 1.8 | 2.2 | 2.7 | 1.7 | 1.3 | N/A | 1.4 |
| Price/Sales | N/A | N/A | N/A | 3.3 | 3.4 | 3.4 | 3.3 | 3.6 | 4.3 | 4.6 | 3.3 | N/A | 3.1 |
| FCF Yield | -3.7% | 4.0% | 0.7% | -1.8% | -7.5% | -7.4% | -4.6% | -2.4% | -4.8% | -7.6% | -2.9% | N/A | -5.2% |
| Market Cap | 143M | 195M | 229M | 289M | 265M | 294M | 304M | 391M | 500M | 398M | 312M | 0 | 356M |
| Avg. Price | 15.59 | 16.85 | 22.58 | 29.03 | 29.92 | 30.50 | 30.90 | 34.99 | 44.90 | 45.57 | 34.24 | 0.00 | 34.45 |
| Year-End Price | 16.13 | 21.73 | 24.93 | 31.16 | 28.59 | 31.56 | 32.40 | 41.58 | 52.77 | 39.84 | 30.32 | 0.00 | 34.45 |
ARTESIAN RESOURCES CORP passes 1 of 9 quality checks, indicating weak fundamentals.
ARTESIAN RESOURCES CORP trades at 15.8x trailing earnings, compared to its 15-year median P/E of 19.7x, suggesting it is currently Cheap relative to its historical range. The company's 5-year average ROIC is 4.8%. Total shareholder yield (dividends) is 3.6%. At current prices, the estimated annualized return to fair value is +3.0%.
ARTESIAN RESOURCES CORP (ARTNA) has a net profit margin of 20.2%. This is a strong margin indicating high profitability.
ARTESIAN RESOURCES CORP (ARTNA) generated $-18 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
ARTESIAN RESOURCES CORP (ARTNA) has a debt-to-equity ratio of 0.71. This indicates moderate leverage.
ARTESIAN RESOURCES CORP (ARTNA) reported earnings per share (EPS) of $2.21 in its most recent fiscal year.
ARTESIAN RESOURCES CORP (ARTNA) has a return on equity (ROE) of 9.3%. This indicates moderate shareholder returns.
The Ledger Terminal provides 16 years of financial data for ARTESIAN RESOURCES CORP (ARTNA), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
ARTESIAN RESOURCES CORP (ARTNA) has a book value per share of $24.20, based on its most recent annual SEC filing.
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