ARTNA vs MSEX
Artesian Resources Corporation and Middlesex Water Company, side by side — 10 fiscal years reported in USD, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | ARTNA | MSEX |
|---|---|---|
| Revenue | $112.9M | $194.7M |
| Net income | $22.8M | $42.8M |
| Gross margin | — | — |
| Net margin | 20.2% | 22.0% |
| Return on equity | 9.3% | 9.1% |
| Diluted EPS | $2.21 | — |
| Dividend / share | $1.23 | $1.38 |
| Payout ratio | 55.5% | 58.2% |
| Free cash flow | $-18.5M | $-15.9M |
| Equity | $249.9M | $494.0M |
| Net debt / equity | 0.71× | 0.78× |
| Current ratio | 0.64× | 0.45× |
| Revenue CAGR 5y | 5.1% | 6.6% |
| Profit CAGR 5y | 6.3% | 2.2% |
MSEX bills 1.7× the revenue of ARTNA, and keeps more of each dollar of revenue as profit (22.0% against 20.2%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner.
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Revenue by year
10 years side by side
| Fiscal year | ARTNA | MSEX |
|---|---|---|
| FY2025 | $112.9M | $194.7M |
| FY2024 | $108.0M | $191.9M |
| FY2023 | $98.9M | $166.3M |
| FY2022 | $98.9M | $162.3M |
| FY2021 | $90.9M | $143.0M |
| FY2020 | $88.1M | $141.4M |
| FY2019 | $83.6M | $134.5M |
| FY2018 | $80.4M | $137.9M |
| FY2017 | $82.2M | $130.6M |
| FY2016 | $79.1M | $132.7M |
Net income by year
Bottom line
| Fiscal year | ARTNA | MSEX |
|---|---|---|
| FY2025 | $22.8M | $42.8M |
| FY2024 | $20.4M | $44.4M |
| FY2023 | $16.7M | $31.5M |
| FY2022 | $18.0M | $42.4M |
| FY2021 | $16.8M | $36.5M |
| FY2020 | $16.8M | $38.4M |
| FY2019 | $14.9M | $33.9M |
| FY2018 | $14.3M | $32.5M |
| FY2017 | $14.0M | $22.8M |
| FY2016 | $13.0M | $22.7M |
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