Artesian Resources Corporation (ARTNA) vs American States Water Company (AWR)

Artesian Resources Corporation and American States Water Company are both Utilities Regulated Water companies. American States Water Company is the larger, with a market value of $3.5B against $345.6M — 10.2× the size. Artesian Resources Corporation trades at the lower P/E: 14.4× against 24.2×. American States Water Company grew revenue faster over the last twelve months: 11.1% against 5.90%. American States Water Company has the higher net margin (20.3% vs 20.2%) and the higher return on invested capital (7.30% vs 4.24%). Both pay a dividend; Artesian Resources Corporation yields more (3.82% vs 2.32%). Across the 22 metrics below, Artesian Resources Corporation leads on 11 and American States Water Company on 11.

Valuation

Metric ARTNA AWR Utilities Regulated Water median
P/E 14.41 24.23 22.77
P/S 2.93 4.97 4.31
P/B 1.34 3.08 1.81
Price to free cash flow n/m 343.73 —
EV/EBITDA 12.23 15.69 14.60
EV/Sales 4.43 6.21 6.02
Earnings yield 6.94% 4.13% 4.40%
Free cash flow yield (5.28%) 0.29% (3.87%)

Profitability

Metric ARTNA AWR Utilities Regulated Water median
Gross margin 100.00% 0.00% 70.20%
Operating margin 25.03% 32.19% 31.36%
Net margin 20.19% 20.32% 20.26%
Free cash flow margin (15.44%) 1.45% (16.20%)
Return on equity 9.42% 13.36% 9.21%
Return on assets 2.77% 5.26% 3.34%
Return on invested capital 4.24% 7.30% 4.26%

Growth

Metric ARTNA AWR Utilities Regulated Water median
Revenue growth (TTM) 5.90% 11.05% 8.39%
EPS growth (last fiscal year) 11.62% 6.31% (0.37%)
Revenue growth, 5-year CAGR 5.08% 6.15% 6.91%
Net income growth, 5-year CAGR 6.30% 8.58% 10.09%

Health

Metric ARTNA AWR Utilities Regulated Water median
Debt to equity 0.72 0.73 0.80
Current ratio 1.01 0.88 0.95
Net debt to EBITDA 4.34 3.62 4.59

Dividend

Metric ARTNA AWR Utilities Regulated Water median
Dividend yield 3.82% 2.32% 2.58%
Payout ratio 0.55 0.56 0.57

Size

Metric ARTNA AWR Utilities Regulated Water median
Market cap 345.58m 3.52b 2.08b

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