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Stocks · Utilities · Water Supply

ARTESIAN RESOURCES CORP

ARTNA Clue Score43
United States Fiscal year ends December CIK 0000863110
$33.63 +0.27% Close, 9 Oct 2026
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Price $33.63 −12.22% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue79.1Operating income18.8Net income13.0EPS, diluted1.41Fiscal year 2017Revenue82.2 +4.0%Operating income19.6Net income14.0 +7.9%EPS, diluted1.51 +7.1%Fiscal year 2018Revenue80.4 −2.2%Operating income19.0Net income14.3 +2.1%EPS, diluted1.54 +2.0%Fiscal year 2019Revenue83.6 +4.0%Operating income19.9Net income14.9 +4.5%EPS, diluted1.60 +3.9%Fiscal year 2020Revenue88.1 +5.4%Operating income22.3Net income16.8 +12.7%EPS, diluted1.79 +11.9%Fiscal year 2021Revenue90.9 +3.1%Operating income22.3Net income16.8 +0.1%EPS, diluted1.79 +0.0%Fiscal year 2022Revenue98.9 +8.8%Operating income23.9Net income18.0 +7.0%EPS, diluted1.90 +6.1%Fiscal year 2023Revenue98.9 −0.0%Operating income22.4Net income16.7 −7.2%EPS, diluted1.67 −12.1%Fiscal year 2024Revenue108.0 +9.2%Operating income26.2Net income20.4 +22.1%EPS, diluted1.98 +18.6%Fiscal year 2025Revenue112.9 +4.6%Operating income27.8Net income22.8 +11.9%EPS, diluted2.21 +11.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 79.1 82.2 80.4 83.6 88.1 90.9 98.9 98.9 108.0 112.9
Growth +4.0% −2.2% +4.0% +5.4% +3.1% +8.8% −0.0% +9.2% +4.6%
Operating income 18.8 19.6 19.0 19.9 22.3 22.3 23.9 22.4 26.2 27.8
Net income 13.0 14.0 14.3 14.9 16.8 16.8 18.0 16.7 20.4 22.8
Growth +7.9% +2.1% +4.5% +12.7% +0.1% +7.0% −7.2% +22.1% +11.9%
EPS, diluted 1.41 1.51 1.54 1.60 1.79 1.79 1.90 1.67 1.98 2.21
Growth +7.1% +2.0% +3.9% +11.9% +0.0% +6.1% −12.1% +18.6% +11.6%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin23.8%Net margin16.4%Free cash flow margin1.9%Fiscal year 2017Operating margin23.8%Net margin17.0%Free cash flow margin−6.5%Fiscal year 2018Operating margin23.6%Net margin17.8%Free cash flow margin−24.8%Fiscal year 2019Operating margin23.8%Net margin17.9%Free cash flow margin−26.1%Fiscal year 2020Operating margin25.3%Net margin19.1%Free cash flow margin−15.8%Fiscal year 2021Operating margin24.5%Net margin18.5%Free cash flow margin−10.5%Fiscal year 2022Operating margin24.2%Net margin18.2%Free cash flow margin−24.5%Fiscal year 2023Operating margin22.7%Net margin16.9%Free cash flow margin−30.7%Fiscal year 2024Operating margin24.2%Net margin18.9%Free cash flow margin−8.4%Fiscal year 2025Operating margin24.6%Net margin20.2%Free cash flow margin−16.4%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 23.8% 23.8% 23.6% 23.8% 25.3% 24.5% 24.2% 22.7% 24.2% 24.6%
Net margin 16.4% 17.0% 17.8% 17.9% 19.1% 18.5% 18.2% 16.9% 18.9% 20.2%
Free cash flow margin 1.9% −6.5% −24.8% −26.1% −15.8% −10.5% −24.5% −30.7% −8.4% −16.4%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow29.8Capital expenditure−28.3Free cash flow1.5Dividends paid−8.2Fiscal year 2017Operating cash flow35.8Capital expenditure−41.1Free cash flow−5.3 −447.8%Dividends paid−8.5Fiscal year 2018Operating cash flow29.1Capital expenditure−49.1Free cash flow−19.9Dividends paid−8.8Fiscal year 2019Operating cash flow18.9Capital expenditure−40.7Free cash flow−21.8Dividends paid−9.1Fiscal year 2020Operating cash flow20.4Capital expenditure−34.3Free cash flow−13.9Dividends paid−9.4Fiscal year 2021Operating cash flow31.3Capital expenditure−40.8Free cash flow−9.5Dividends paid−9.8Fiscal year 2022Operating cash flow24.3Capital expenditure−48.5Free cash flow−24.2Dividends paid−10.3Fiscal year 2023Operating cash flow31.9Capital expenditure−62.2Free cash flow−30.3Dividends paid−11.2Fiscal year 2024Operating cash flow36.8Capital expenditure−45.9Free cash flow−9.1Dividends paid−12.2Fiscal year 2025Operating cash flow40.3Capital expenditure−58.8Free cash flow−18.5Dividends paid−12.7
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 29.8 35.8 29.1 18.9 20.4 31.3 24.3 31.9 36.8 40.3
Capital expenditure −28.3 −41.1 −49.1 −40.7 −34.3 −40.8 −48.5 −62.2 −45.9 −58.8
Free cash flow 1.5 −5.3 −19.9 −21.8 −13.9 −9.5 −24.2 −30.3 −9.1 −18.5
Growth −447.8%
Dividends paid −8.2 −8.5 −8.8 −9.1 −9.4 −9.8 −10.3 −11.2 −12.2 −12.7

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.2Total debt103.6Net cash (debt)−103.4Shareholders’ equity139.0Debt to equity0.75Fiscal year 2017Cash1.0Total debt106.9Net cash (debt)−106.0Shareholders’ equity146.6Debt to equity0.73Fiscal year 2018Cash0.3Total debt117.6Net cash (debt)−117.3Shareholders’ equity153.3Debt to equity0.77Fiscal year 2019Cash0.6Total debt145.9Net cash (debt)−145.3Shareholders’ equity160.3Debt to equity0.91Fiscal year 2020Cash0.0Total debt144.1Net cash (debt)−144.1Shareholders’ equity169.4Debt to equity0.85Fiscal year 2021Cash0.1Total debt144.9Net cash (debt)−144.8Shareholders’ equity178.0Debt to equity0.81Fiscal year 2022Cash1.3Total debt177.6Net cash (debt)−176.3Shareholders’ equity187.9Debt to equity0.95Fiscal year 2023Cash2.5Total debt180.5Net cash (debt)−178.0Shareholders’ equity230.4Debt to equity0.78Fiscal year 2024Cash1.1Total debt178.7Net cash (debt)−177.5Shareholders’ equity239.2Debt to equity0.75Fiscal year 2025Cash0.1Total debt176.4Net cash (debt)−176.4Shareholders’ equity249.9Debt to equity0.71
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.2 1.0 0.3 0.6 0.0 0.1 1.3 2.5 1.1 0.1
Total debt 103.6 106.9 117.6 145.9 144.1 144.9 177.6 180.5 178.7 176.4
Net cash (debt) −103.4 −106.0 −117.3 −145.3 −144.1 −144.8 −176.3 −178.0 −177.5 −176.4
Shareholders’ equity 139.0 146.6 153.3 160.3 169.4 178.0 187.9 230.4 239.2 249.9
Debt to equity 0.75 0.73 0.77 0.91 0.85 0.81 0.95 0.78 0.75 0.71

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
23.8% 23.8% 23.6% 23.8% 25.3% 24.5% 24.2% 22.7% 24.2% 24.6%
26.9% 25.9% 24.0% 24.1% 25.5% n/a n/a n/a n/a n/a
16.4% 17.0% 17.8% 17.9% 19.1% 18.5% 18.2% 16.9% 18.9% 20.2%
1.9% −6.5% −24.8% −26.1% −15.8% −10.5% −24.5% −30.7% −8.4% −16.4%
Spending
35.7% 50.0% 61.0% 48.7% 38.9% 44.9% 49.0% 62.9% 42.6% 52.1%
39.1% 34.3% 25.9% 25.8% 25.3% n/a n/a n/a n/a n/a
Returns
9.3% 9.5% 9.3% 9.3% 9.9% 9.5% 9.6% 7.2% 8.5% 9.1%
2.9% 2.8% 2.7% 2.7% 2.8% 2.7% 2.5% 2.2% 2.6% 2.7%
Balance and payout
0.75 0.73 0.77 0.91 0.85 0.81 0.95 0.78 0.75 0.71
63.1% 60.8% 61.8% 61.1% 55.8% 58.4% 57.3% 67.3% 59.7% 55.5%
535.3% n/a n/a n/a n/a n/a n/a n/a n/a n/a