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Artesian Resources Corporation

ARTNA Utilities Utilities Regulated Water

Artesian Resources Corporation’s revenue for fiscal 2025 (year ended December 2025) was $112.9 million, up 4.62% from fiscal 2024.

Revenue
+7.41%
EPS
+4.92%
Free cash flow
+68.4%
Total debt
+4.36%

Quarter to June 2026, against a year earlier

33.15 0.70 −2.07%
Market cap
$345.6M
P/E
14.4×
Fwd P/E
16.7×
Dividend yield
3.82%
F-score
5/9
Altman Z
0.70
Beneish M
−2.66
Dividend safety
52/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 1.04
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 2 — — 3 — — — — 5 3 — —
Insider Ownership 11.28%

Capital & Financial Ratios $m

Size
Market Cap 345.58
Revenue ttm 116.94
Net income ttm 23.61
Free cash flow ttm (18.06)
Net debt Q 175.27
Valuation
P/E 14.41
Forward P/E 16.70
Price / sales 2.93
Forward P/S Powerpack
Price / FCF 0.00
Price / book 1.34
Financial health
Current ratio Q 1.01
Debt / equity Q 0.72
Interest coverage Q 3.68
Growth
Revenue growth Q +7.41% (above 0%: growing)
Operating income growth Q +9.68% (above 0%: growing)
EPS, this year +2.71%
EPS, next year A +7.05%
Revenue, next year A +3.59%
EPS, past 5 yrs +4.31%
EPS, next 5 yrs A +4.75%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.4×, against a ten-year median of 5.5×; over the ten years it ranged from 4.4× in 2026 to 7.6× in 2022.
P/E against its own 10 years 3.01%
10-year low 10-year high
P/S against its own 10 years 3.41%
10-year low 10-year high
P/B against its own 10 years 4.95%
10-year low 10-year high
EV/Sales against its own 10 years 0.88%
10-year low 10-year high

Dividends

Yield
3.82%
Annual rate
1.27
Payout ratio
55.3%
Growth, 2018–26
−0.02%/yr
  1. 0.95 ’18
  2. 0.98 ’19 +3
  3. 1.01 ’20 +2
  4. 1.05 ’21 +4
  5. 1.09 ’22 +4
  6. 1.14 ’23 +4
  7. 1.18 ’24 +4
  8. 1.23 ’25 +4
  9. 0.95 ’26 −22
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 3 1 0 10
Receivables 17 14 12 14
Inventory 6 4 4 4
Other — — — —
31 25 21 31
2023 2024 2025 Q'26
Payables 10 11 14 10
ST’ Debt 2 2 2 3
Other 5 5 6 9
22 26 34 30

Compound Annual Growth %

10y 5y 3y
Sales 3.90% 5.08% 4.53%
Cash Flow 3.57% 14.66% 18.47%
Earnings 7.28% 6.30% 8.24%
Book Value 6.56% 8.08% 9.97%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY25 Estimate 0.66 Actual 0.68

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY24 0.61 0.66 Beat by 0.05
Q1 FY25 0.35 0.53 Beat by 0.18
Q2 FY25 0.56 0.61 Beat by 0.05
Q3 FY25 0.66 0.68 Beat by 0.02

EPS $

Mar Jun Sep Dec Year
’26 0.57 0.64 — — —
’25 0.53 0.61 0.68 0.40 2.21
’24 0.43 0.52 0.66 0.37 1.98
’23 0.39 0.44 0.49 0.34 1.67
’22 0.47 0.53 0.65 0.24 1.90
’21 0.45 0.48 0.54 0.32 1.79
’20 0.44 0.49 0.54 0.33 1.79
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 28 31 — — —
’25 26 29 30 28 113
’24 25 27 29 27 108
’23 22 25 27 25 99
’22 22 25 27 25 99
’21 21 22 25 23 91
’20 20 22 25 22 88
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 9 10 — — —
’25 11 8 11 10 40
’24 13 7 11 7 37
’23 11 5 8 8 32
’22 12 2 11 (1) 24
’21 10 4 6 12 31
’20 7 5 2 6 20
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (4) (2) — — —
’25 1 (8) (3) (8) (18)
’24 4 (3) (2) (8) (8)
’23 (6) (11) (8) (5) (30)
’22 2 (12) (2) (13) (24)
’21 4 (10) (5) 1 (9)
’20 (2) (3) (7) (2) (14)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 79 82 80 84 88 91 99 99 108 113 117 +4.0% 117 122 — +3.9%
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 0.0 pt
EBT 13 14 14 15 17 17 18 17 20 23 24 +6.5%
EBT margin, % 16.38 17.00 17.76 17.85 19.08 18.52 18.20 16.89 18.89 20.21 20.19 +3.8 pt
Net income 13 14 14 15 17 17 18 17 20 23 24 +6.5%
Per share, $
Per share, $ Revenue 8.69 8.96 8.70 9.01 9.45 9.67 10.45 9.87 10.49 10.96 11.33 +2.6%
Earnings 1.42 1.52 1.55 1.61 1.80 1.79 1.90 1.67 1.98 2.21 2.30 +5.0%
Cash flow 3.27 3.90 3.15 2.03 2.18 3.33 2.56 3.18 3.58 3.91 3.90 +2.0%
Capex (3.09) (4.47) (5.30) (4.38) (3.67) (4.34) (5.12) (6.20) (4.40) (5.70) (5.65) +7.0%
Free cash flow 0.18 (0.57) (2.15) (2.35) (1.49) (1.00) (2.55) (3.02) (0.83) (1.78) (1.75) n/m
Book value 15.28 15.98 16.59 17.28 18.17 18.95 19.86 23.00 23.24 24.24 24.82 +5.3%
Shares, m 9 9 9 9 9 9 9 10 10 10 10 +1.4%
Valuation, ×
Valuation, × P/E 21.75 24.55 22.50 23.11 20.60 25.74 31.05 24.57 15.97 14.24 14.41 22.4
P/S 3.55 4.16 4.01 4.13 3.92 4.79 5.64 4.13 3.02 2.89 2.93 4.0
P/B 2.02 2.33 2.10 2.15 2.04 2.44 2.97 1.77 1.36 1.30 1.34 2.1
EV/Sales 4.86 5.45 5.47 5.87 5.56 6.38 7.43 5.93 4.66 4.45 4.43 5.6
EV/FCF 236.74 (85.75) (22.12) (22.54) (35.31) (61.61) (30.41) (19.41) (59.21) (27.34) (28.66) (12.7)
Cash, $m
Cash, $m Operating cash flow 30 36 29 19 20 31 24 32 37 40 40 +3.4%
Capex (28) (41) (49) (41) (34) (41) (48) (62) (45) (59) (58) +8.5%
Free cash flow 2 (5) (20) (22) (14) (9) (24) (30) (8) (18) (18) n/m
Balance, $m
Balance, $m Working capital (5) (9) (22) (11) (26) (29) (16) 8 (1) (12) 0 +11.3%
Net debt 103 106 117 145 144 145 176 178 178 176 175 +6.1%
Shareholders’ equity 139 147 153 160 169 178 188 230 239 250 256 +6.7%
Returns, %
Returns, % ROA 2.94 2.96 2.79 2.74 2.92 2.76 2.68 2.25 2.61 2.77 2.77 (0.2) pt
ROIC 4.85 4.85 4.38 4.08 4.44 4.32 4.10 3.43 3.92 4.07 4.24 (0.8) pt
ROE 9.55 9.79 9.52 9.52 10.20 9.69 9.84 7.98 8.69 9.33 9.42 (0.2) pt
People
People Employees 225 233 241 239 235 245 252 251 249 274 — +2.2%
Revenue/emp, $m 0.35 0.35 0.33 0.35 0.38 0.37 0.39 0.39 0.43 0.41 — +1.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Artesian Resources Corporation vs peers in Utilities Regulated Water (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
AWR American States Water Company $3.5B 24.2× 23.3× +5.37% (above 0%: growing) 0.00% −27.88% (below 0%: shrinking) 0.00% 34.95% Compare
CWT California Water Service Group $3.2B 22.5× 19.2× +6.73% (above 0%: growing) +1.94% (above 0%: growing) −97.13% (below 0%: shrinking) 69.26% 24.89% Compare
HTO H2O America $3.0B 23.9× 20.3× +4.02% (above 0%: growing) −19.23% (below 0%: shrinking) +34.01% (above 0%: growing) 58.72% 24.17% Compare
MSEX Middlesex Water Company $1.1B 21.5× 21.2× +11.30% (above 0%: growing) +23.14% (above 0%: growing) +15.96% (above 0%: growing) 100.00% 36.99% Compare
YORW The York Water Company $522.9M 19.9× 18.8× +22.48% (above 0%: growing) +40.00% (above 0%: growing) +111.16% (above 0%: growing) 100.00% 41.71% Compare
CWCO Consolidated Water Co. Ltd. $425.0M 25.8× 29.6× −2.15% (below 0%: shrinking) −21.88% (below 0%: shrinking) +39.37% (above 0%: growing) 33.35% 11.39% Compare
ARTNA Artesian Resources Corporation $345.6M 14.4× 16.7× +7.41% (above 0%: growing) +4.92% (above 0%: growing) +68.43% (above 0%: growing) 100.00% 28.09%
PCYO Pure Cycle Corporation $258.1M 17.6× 25.8× +59.96% (above 0%: growing) +33.33% (above 0%: growing) +492.06% (above 0%: growing) 52.12% 25.71% Compare
GWRS Global Water Resources, Inc. $227.5M 90.0× 61.9× +5.04% (above 0%: growing) −42.83% (below 0%: shrinking) +100.41% (above 0%: growing) 72.47% 14.68% Compare
Median of peers $831.4M 23.2× 22.3× +6.05% +0.97% +36.69% 63.99% 25.30%

All 12 Utilities Regulated Water stocks →

Artesian Resources Corporation (ARTNA) Latest News

6 Oct

Impact 4 · · GlobeNewswire
Impact 3 · · Simply Wall St.

6 Aug

Impact 3 ·

5 May

Impact 3 · · GlobeNewswire
Impact 3 · · GlobeNewswire

12 Mar

Impact 4 · · GlobeNewswire
Impact 3 · · Associated Press Finance

2 Feb

Impact 3 · · GlobeNewswire

1 Feb

Impact 3 · · Simply Wall St.

5 Jan

Impact 3 · · Simply Wall St.

22 Dec

Impact 4 · · Simply Wall St.

6 Dec

Impact 3 · · Simply Wall St.

19 Nov

Impact 3 · · GlobeNewswire

17 Nov

Impact 3 · · ZacksZacksZacksGOBankingRates24/7 Wall St.GOBankingRates

10 Nov

Impact 3 · · Zacks

8 Nov

Impact 4 · · Simply Wall St.

2 Nov

Impact 4 · · Simply Wall St.

30 Oct

Impact 4 · · Zacks
Impact 4 ·
Impact 3 · · Associated Press Finance
Impact 3 ·

29 Oct

Impact 4 · · Zacks

13 Oct

Impact 4 · · Zacks

26 Sep

Impact 4 · · Zacks

20 Sep

Impact 3 · · Simply Wall St.

10 Sep

Impact 4 · · Zacks

25 Aug

Impact 4 · · Zacks
Impact 3 ·

12 Aug

Impact 3 ·

8 Aug

Impact 4 ·
stockrow.com/ARTNA · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com