ARTNA vs MSEX
Artesian Resources Corp. and Middlesex Water Co., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
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 | $2.36 |
| Dividend / share | $1.23 | $1.38 |
| Payout ratio | 55.5% | 58.2% |
| Free cash flow | $-18.5M | · |
| 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. "·" marks a figure not available in our data.
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 | $162.4M |
| FY2021 | $90.9M | $143.1M |
| FY2020 | $88.1M | $141.6M |
| FY2019 | $83.6M | $134.6M |
| FY2018 | $80.4M | $138.1M |
| FY2017 | $82.2M | $130.8M |
| FY2016 | $79.1M | $132.9M |
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 |
17 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$81,753,000 | MSEX |
| FY2024 | −$83,925,000 | MSEX |
| FY2023 | −$67,413,000 | MSEX |
| FY2022 | −$63,537,000 | MSEX |
| FY2021 | −$52,282,000 | MSEX |
| FY2020 | −$53,451,000 | MSEX |
| FY2019 | −$51,003,000 | MSEX |
| FY2018 | −$57,666,000 | MSEX |
| FY2017 | −$48,540,000 | MSEX |
| FY2016 | −$53,817,000 | MSEX |
| FY2015 | −$49,001,000 | MSEX |
| FY2014 | −$44,674,000 | MSEX |
| FY2013 | −$45,773,000 | MSEX |
| FY2012 | −$39,816,000 | MSEX |
| FY2011 | −$36,999,000 | MSEX |
| FY2010 | −$37,850,000 | MSEX |
| FY2009 | −$30,331,000 | MSEX |
MSEX has reported the higher revenue in every one of these 17 fiscal years. The gap has widened since the earliest year compared.
17 of 17 comparable fiscal years — a year missing data on either side is not counted.
17 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −1.8 pp | MSEX |
| FY2024 | −4.2 pp | MSEX |
| FY2023 | −2.1 pp | MSEX |
| FY2022 | −7.9 pp | MSEX |
| FY2021 | +1.3 pp | ARTNA |
| FY2020 | +0.6 pp | ARTNA |
| FY2019 | +1.1 pp | ARTNA |
| FY2018 | −5.7 pp | MSEX |
| FY2017 | −0.4 pp | MSEX |
| FY2016 | −0.7 pp | MSEX |
| FY2015 | −1.2 pp | MSEX |
| FY2014 | −2.6 pp | MSEX |
| FY2013 | −2.5 pp | MSEX |
| FY2012 | +0.9 pp | ARTNA |
| FY2011 | −2.8 pp | MSEX |
| FY2010 | −2.2 pp | MSEX |
| FY2009 | +1.0 pp | ARTNA |
The higher net margin has changed hands between ARTNA and MSEX over this period.
17 of 17 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
ARTNA's net margin has been more volatile than MSEX's over the 17 comparable fiscal years — 5.2 percentage points of standard deviation against 5.1.
17 of 17 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between ARTNA and MSEX over these 17 fiscal years — ARTNA led in 5 and MSEX in 12.
17 of 17 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
MSEX's return on equity has been more volatile than ARTNA's over the 12 comparable fiscal years — 2.4 percentage points of standard deviation against 1.1.
12 of 17 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between ARTNA and MSEX over these 12 fiscal years — ARTNA led in 8 and MSEX in 4.
12 of 17 comparable fiscal years — a year missing data on either side is not counted.