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MARKETS / NASDAQ / Utilities / Water and sanitation / ARTNA
NASDAQ · WATER SUPPLY · SMALL CAP

Artesian Resources Corp. ARTNA

17 fiscal years on record · USD · FY2025 reported · SEC filings only
15 YEARS OF DIVIDEND GROWTH
$112.9M
▲ 4.6% YoY
$22.8M
▲ 11.9% YoY
$-18.5M

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Artesian Resources distributes and sells water, including water for public and private fire protection, to residential, commercial, industrial, municipal and utility customers in Delaware, Maryland and Pennsylvania, and provides wastewater services to customers in Delaware. As of December 31, 2025, the company operated with 272 full-time and 2 part-time employees. Artesian Resources is organized as the holding company of five regulated public utilities, Artesian Water Company, Inc., Artesian Water Pennsylvania, Inc., Artesian Water Maryland, Inc., Artesian Wastewater Maryland, Inc. and Artesian Wastewater Management, Inc. with its own subsidiary Tidewater Environmental Services, Inc., and two non-utility subsidiaries, Artesian Utility Development, Inc. and Artesian Development Corporation. Its subsidiary Artesian Water generated approximately 80.5% of the company's 2025 consolidated operating revenues. Artesian Resources Corporation is a Delaware corporation that was incorporated in 1927. Its subsidiary, Artesian Water Company, Inc., has provided water service on the Delmarva Peninsula since 1905.

Written from the business description in ARTESIAN RESOURCES CORP's annual report to the U.S. Securities and Exchange Commission, filed 16 March 2026. Every sentence was checked against that document before publication.

Growth

USD 112.9M
Revenue, FY2025 · full 17-year series below
Revenue $M Net income $M
FY2025 · Revenue 112.9 · Net income 22.8
50M100M
2009201220152018202120242025
Compound annual growth
+4.5%
+5.1%
+3.9%
+3.8%
+8.2%
+6.3%
+7.3%
+7.6%
+5.2%
+4.3%
+5.8%
+5.4%
+4.1%
+4.0%
+3.5%
+3.3%
+7.1%
+6.2%
+5.0%
+5.5%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +5.1% a year over the five years to FY2025 — but profit grew faster: net income at +6.3%, earnings per share at +4.3%.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

20 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 24.6% · Net 20.2%
10%20%
200920172025
ROE
FY2025 · ROE 9.3%
5%10%
200920172025
Three returns, three denominators.
Gross margin·
Operating margin24.6%
Net margin20.2%
EBITDAUSD 41.6M

Each USD of equity produced 9 cents of profit this year.

Cash & shareholders

USD 12.7M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -18.5
3M6M-15M-30M
200920172025
Net buybacks $M Dividends $M
FY2025 · Dividends 12.7 · Net buybacks ·
5M10M
200920112013201520172019202120232025
Dividends paidUSD 12.7M
Net buybacks·
Share of profit55.5%
Consecutive raises15 years (since the 2010 share-count change)

USD 12.7M in dividends — 56% of the year's profit went back to shareholders.

Total assetsUSD 851.2M
EquityUSD 249.9M
CashUSD 52,000.00
Gross debtUSD 176.4M
Net debtUSD 176.4M
Current ratio0.64×

Net debt stands at 71% of equity.

The 17-year record

17 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
ARTNA, 17-year financial record
Metric 20252024202320222021202020192018201720162015201420132012201120102009
Revenue $B0.10.10.10.10.10.10.10.10.10.10.10.10.10.10.10.10.1
Operating income $B0.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.0
EBITDA $B0.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.0
Income tax $B0.00.00.00.00.00.00.00.00.00.00.00.00.00.0◌◌◌
Net income $B0.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.0
Free cash flow $B−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.00.00.0−0.0−0.00.00.0−0.0−0.0
EPS, diluted $2.211.981.671.901.791.791.601.541.511.411.261.070.941.130.831.000.97
Dividend / sh $1.231.181.141.091.051.010.980.950.930.900.870.850.820.790.760.750.72
Payout %5660675758566162616369798770927574
ROE %9.38.78.09.89.710.29.59.59.89.58.87.76.98.56.58.28.0

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

Compare

This company against its peers

Artesian Resources Corp.vsAmerican Water Works Company, Inc.Same industry: Water SupplyArtesian Resources Corp.vsEssential Utilities, Inc.Same industry: Water SupplyArtesian Resources Corp.vsCalifornia Water Service GroupSame industry: Water SupplyArtesian Resources Corp.vsH2O AmericaSame industry: Water SupplyArtesian Resources Corp.vsAmerican States Water Co.Same industry: Water SupplyArtesian Resources Corp.vsMiddlesex Water Co.Same industry: Water SupplyArtesian Resources Corp.vsConsolidated Water Co. Ltd.Same industry: Water Supply
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Provenance

Company facts, as filed

How we verify · 0 failures in 66 reconciliationsAUDITED

Reconciled in 17 of the 17 fiscal years we could check. Six checks were skipped: the balance sheet is not tagged before 2010. Two checks were skipped: EPS is not tagged before 2009.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityWater Supply
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2009

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