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Artesian Resources Corp (ARTNA) stock

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NASDAQ: ARTNA Nasdaq Water Utilities Next results ~November 10, 2026

C+ Fundamentals grade

Artesian Resources Corp is a US-listed company in the water utilities industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$40

Valuation models combined (5)

Base case. Range ~$31–$47. Weighted average of 5 models (utility earnings model, price-to-earnings vs peers, justified price-to-book, residual income, dividend discount (two-stage)), the utility earnings model counting double.

Price vs value

Modestly undervalued

The price is inside our value range, 14% below our base value.

Price used: $34.01, November 2, 2026

Artesian Resources Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 1 selling0 purchases and 16 sales by directors and officers, last 12 monthsInsider trades
  • Funds58 adding, 44 cuttingOf 22 active managers that changed their stake, 10 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Artesian Resources files

Where Artesian Resources stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $117m, up 5.9% on a year earlier, faster than the 5.1% growth a quarter earlier. Free-cash-flow margin held at -15.5%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 3 of our 6 financial-health checks. Our cash-flow model value is $39.55 a share, against a share price of $33.64.

Source: 10-Q filed August 12, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 10, 2026 (estimated)

Artesian Resources Corp's trailing-twelve-month revenue grew 5.9% year on year, with a free-cash-flow margin of -15.5%. Where it stands out: stock pay as % of revenue of 0.3% ranks 1 of 9 water utilities companies we cover.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • High operating margin. 25.0% of revenue is left as operating profit, against a median of 30.5% for water utilities companies we cover.

Things to watch

  • Burning cash. Free cash flow was -15.5% of revenue over the last 12 months.
  • Weak cash conversion. Free cash flow was -77% of net income over the last 12 months.

Latest results: FY2026 Q2

Filed August 12, 2026
Revenue
$31m, up 7.4% on a year earlier
Share reaction
+0.6% in the first session after the results on August 7, 2026, against +0.6% for the S&P 500
Next report
November 10, 2026

Artesian Resources' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.3%
  • 1 week0.0%
  • 1 month+1.2%
  • This year+10.7%
  • 1 year+9.6%
  • 5 years-3.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$117M
Operating margin
25.0%
Net margin
20.2%
EPS (TTM, diluted)
$2.29

Growth

Revenue growth
+5.9%
Change in growth rate
+0.8 pts
Share count change
+0.2%

Cash

Free cash flow (TTM)
-$18.2M
FCF margin
-15.5%
Stock pay % of revenue
0.3%

Earnings

Last results
August 7, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Artesian Resources Corp valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$40
Price used
$34.02close November 3, 2026
Implied change
▲ +16%
Uncertainty
Low

How we got here: the combined value of 5 valuation models built for a business like Artesian Resources Corp (see the models table below and how they are combined) , with a 7.06% cost of equity. The models span ~$31–~$47; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Valuation models

We value Artesian Resources Corp as an utility or power producer, with every model that fits that kind of business. Cost of equity 7.1%: the 10-year Treasury yield (4.9%) plus a beta of 0.47 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Utility earnings model Net income growing 3% a year, discounted at 8%: for regulated investment that makes free cash flow negative. ~$47 ~$39–$59 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$40 ~$41–$54 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$36 ~$29–$48 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$31 ~$22–$47 Included
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. ~$36 ~$29–$48 Included
Combined value Weighted average of the models that apply: the primary model (utility earnings model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$40 ~$31–$47 5 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Artesian Resources Corp with utilities and power producers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$20.37$24.22$30.01$27.85$30.54$31.30$40.13$51.88$37.55$29.59$30.72$34.01
Market value$183m$222m$277m$259m$285m$293m$378m$492m$376m$305m$317m$351m
+ Net debt (− = net cash)$115m$111m$116m$133m$153m$171m$171m$196m$180m$180m$182m$175m
Enterprise value$299m$332m$393m$392m$438m$464m$550m$688m$557m$484m$499m$526m
Multiples
Price / sales 2.4x2.8x3.4x3.2x3.4x3.3x4.2x5.0x3.8x2.8x2.8x3.0x
Price / earnings 16.2x17.1x19.8x18.1x19.1x17.4x22.5x27.3x22.5x14.9x13.9x14.9x
Price / free cash flow 23.8x145.2x——————————
EV / EBITDA 11.3x11.9x13.5x13.4x14.2x13.9x16.1x18.8x15.6x12.2x12.0x12.2x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

41 /100

Weak moat

How hard Artesian Resources's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 1 / 20

    Net income has been a median 2.7% of total assets over 10 years.

  • Durability 18 / 20

    Operating margin has been a median 24.4%; its worst year was 22.7%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 10 years, at a median -16.0% of revenue.

  • Discipline 13 / 20

    The diluted share count rose 9.8% over five years; stock-based pay has been a median 0.2% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 10, 2026, after the close.

Analysts' consensus

No analyst estimates are published for Artesian Resources Corp: too few analysts cover it.

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2025 $0.66 $0.68 +3.0%
Jun 2025 $0.56 $0.61 +8.9%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 7, 2026

No numeric guidance in Artesian Resources Corp's latest earnings release (filed August 7, 2026). Some companies give their outlook only on the earnings call.

Positioning

Short interest
0.6%
of tradable shares
Days to cover
1.62
at average volume
Short interest, 1 month
−11%
to October 15, 2026
Held by institutions
57%
of shares
Held by insiders
4.1%
of shares
Employees
272
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +9.6%

$31.02 on October 31, 2025 to $34.01

ThenNowEffect
Revenue (last 12 months) $110m $117m +5.9%
Net margin 20.3% 20.2% −0.4%
P/E multiple 14.3x 14.9x +4.1%
Share count 10m 10m −0.2%

Biggest factor: revenue.

Last 3 years −10.3%

$37.91 on November 3, 2023 to $34.01

ThenNowEffect
Revenue (last 12 months) $99m $117m +17.6%
Net margin 16.7% 20.2% +20.8%
P/E multiple 22.0x 14.9x −32.3%
Share count 10m 10m −6.7%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
ARTNA+28%+29%−28%−21%+4%+11%
Industry peers (median)+21%−14%−12%−10%+0%+15%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
ARTNA75%75%25%42%42%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
ARTNA−15%−22%−36%−22%−11%−12%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 49% from January 24, 2023 to January 22, 2025. Getting back needed a 98% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$29.93 – $36.69
From 52-week high
−7.3%
vs 50-day average
−1.1%
vs 200-day average
+3.0%
Volatility (1 year)
19%
Beta vs S&P 500
-0.06

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 4 down
typical move ±2.6%
After a week
7 up, 3 down
typical move ±4.9%
After a month
6 up, 4 down
typical move ±4.2%
Results releasedNext dayS&P 500 next day5 days21 days
August 7, 2026 +0.6% +0.6% +4.0% +7.6%
May 6, 2026 +0.9% +1.1% +3.1% +6.0%
March 13, 2026 −1.4% +0.4% −5.8% +0.8%
October 31, 2025 −0.8% +0.5% +2.7% −3.5%
August 5, 2025 +1.1% +0.3% +3.8% +1.2%
May 6, 2025 0.0% −0.4% −4.0% −1.9%
March 26, 2025 +3.6% −1.5% +5.7% +11.4%
November 5, 2024 +9.3% +3.7% +4.6% +1.6%
August 6, 2024 −5.5% +0.2% −5.3% −3.1%
May 7, 2024 +3.3% +0.1% +10.3% −5.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Artesian Resources Corp in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Artesian Resources Corp
$95M $100M $105M $110M $115M $120M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $99.4M Revenue (TTM), FY23 Q4: $98.9M Revenue (TTM), FY24 Q1: $100.9M Revenue (TTM), FY24 Q2: $103.1M Revenue (TTM), FY24 Q3: $105.6M Revenue (TTM), FY24 Q4: $108M Revenue (TTM), FY25 Q1: $109.3M Revenue (TTM), FY25 Q2: $110.4M Revenue (TTM), FY25 Q3: $111.8M Revenue (TTM), FY25 Q4: $112.9M Revenue (TTM), FY26 Q1: $114.8M Revenue (TTM), FY26 Q2: $116.9M $116.9M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $99.4M
FY23 Q4 $98.9M
FY24 Q1 $100.9M
FY24 Q2 $103.1M
FY24 Q3 $105.6M
FY24 Q4 $108M
FY25 Q1 $109.3M
FY25 Q2 $110.4M
FY25 Q3 $111.8M
FY25 Q4 $112.9M
FY26 Q1 $114.8M
FY26 Q2 $116.9M
Revenue growth, TTM YoY Artesian Resources Corp
-5% 0% 5% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 2.9% Revenue growth, TTM YoY, FY23 Q4: -0.0% Revenue growth, TTM YoY, FY24 Q1: 1.7% Revenue growth, TTM YoY, FY24 Q2: 3.6% Revenue growth, TTM YoY, FY24 Q3: 6.2% Revenue growth, TTM YoY, FY24 Q4: 9.2% Revenue growth, TTM YoY, FY25 Q1: 8.3% Revenue growth, TTM YoY, FY25 Q2: 7.1% Revenue growth, TTM YoY, FY25 Q3: 5.8% Revenue growth, TTM YoY, FY25 Q4: 4.6% Revenue growth, TTM YoY, FY26 Q1: 5.1% Revenue growth, TTM YoY, FY26 Q2: 5.9% 5.9%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 2.9%
FY23 Q4 -0.0%
FY24 Q1 1.7%
FY24 Q2 3.6%
FY24 Q3 6.2%
FY24 Q4 9.2%
FY25 Q1 8.3%
FY25 Q2 7.1%
FY25 Q3 5.8%
FY25 Q4 4.6%
FY26 Q1 5.1%
FY26 Q2 5.9%
Operating margin (TTM) Artesian Resources Corp
21% 22% 23% 24% 25% 26% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 21.3% Operating margin (TTM), FY23 Q4: 22.7% Operating margin (TTM), FY24 Q1: 22.9% Operating margin (TTM), FY24 Q2: 23.4% Operating margin (TTM), FY24 Q3: 24.6% Operating margin (TTM), FY24 Q4: 24.2% Operating margin (TTM), FY25 Q1: 24.7% Operating margin (TTM), FY25 Q2: 25.0% Operating margin (TTM), FY25 Q3: 24.7% Operating margin (TTM), FY25 Q4: 24.6% Operating margin (TTM), FY26 Q1: 24.8% Operating margin (TTM), FY26 Q2: 25.0% 25.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 21.3%
FY23 Q4 22.7%
FY24 Q1 22.9%
FY24 Q2 23.4%
FY24 Q3 24.6%
FY24 Q4 24.2%
FY25 Q1 24.7%
FY25 Q2 25.0%
FY25 Q3 24.7%
FY25 Q4 24.6%
FY26 Q1 24.8%
FY26 Q2 25.0%
FCF margin (TTM) Artesian Resources Corp
-40% -30% -20% -10% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -38.3% FCF margin (TTM), FY23 Q4: -30.7% FCF margin (TTM), FY24 Q1: -20.2% FCF margin (TTM), FY24 Q2: -11.8% FCF margin (TTM), FY24 Q3: -5.4% FCF margin (TTM), FY24 Q4: -8.4% FCF margin (TTM), FY25 Q1: -11.2% FCF margin (TTM), FY25 Q2: -15.9% FCF margin (TTM), FY25 Q3: -16.9% FCF margin (TTM), FY25 Q4: -16.4% FCF margin (TTM), FY26 Q1: -20.5% FCF margin (TTM), FY26 Q2: -15.5% -15.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -38.3%
FY23 Q4 -30.7%
FY24 Q1 -20.2%
FY24 Q2 -11.8%
FY24 Q3 -5.4%
FY24 Q4 -8.4%
FY25 Q1 -11.2%
FY25 Q2 -15.9%
FY25 Q3 -16.9%
FY25 Q4 -16.4%
FY26 Q1 -20.5%
FY26 Q2 -15.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Artesian Resources took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $113M
  2. Other income $2.9M · 2.5%
  3. Other operating costs $85.2M · 75.4%
  4. Operating income $27.8M · 24.6%
  5. Income tax $7.8M · 6.9%
  6. Net income $22.8M · 20.2%

Shares of revenue. Source: Artesian Resources's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 61 65 65 71 69 72 77 79 82 80 84 88 91 99 99 108 113 117
EBITDA 20 21 21 24 23 25 26 28 29 29 31 33 34 37 36 40 42 43
Operating income 14 14 14 16 14 16 18 19 20 19 20 22 22 24 22 26 28 29
Net income 7 8 7 10 8 10 11 13 14 14 15 17 17 18 17 20 23 24
Diluted EPS $0.97 $1.00 $0.83 $1.13 $0.94 $1.07 $1.26 $1.41 $1.51 $1.54 $1.60 $1.79 $1.79 $1.90 $1.67 $1.98 $2.21 $2.29
Growth (year on year)
Revenue — +6.5% +0.3% +8.4% −2.1% +4.9% +6.3% +2.7% +4.0% −2.2% +4.0% +5.4% +3.1% +8.8% −0.0% +9.2% +4.6% +5.9%
EBITDA — +5.4% −0.7% +12.5% −4.4% +8.7% +6.9% +6.0% +4.1% +0.3% +5.1% +8.8% +2.2% +6.9% −2.0% +11.2% +4.5% +5.2%
Operating income — +4.6% −3.7% +15.4% −8.6% +10.8% +9.6% +7.0% +4.2% −3.3% +5.1% +11.9% −0.0% +7.2% −6.1% +16.5% +6.2% +5.9%
Net income — +4.9% −11.5% +46.0% −15.7% +14.5% +18.9% +14.6% +7.9% +2.1% +4.5% +12.7% +0.1% +7.0% −7.2% +22.1% +11.9% +5.5%
Diluted EPS — +3.1% −17.0% +36.1% −16.8% +13.8% +17.8% +11.9% +7.1% +2.0% +3.9% +11.9% 0.0% +6.1% −12.1% +18.6% +11.6% +5.3%
Margins
EBITDA margin 33.2% 32.8% 32.5% 33.7% 32.9% 34.1% 34.3% 35.4% 35.5% 36.4% 36.8% 37.9% 37.6% 36.9% 36.2% 36.8% 36.8% 37.0%
Operating margin 22.4% 22.0% 21.1% 22.5% 21.0% 22.1% 22.8% 23.8% 23.8% 23.6% 23.8% 25.3% 24.5% 24.2% 22.7% 24.2% 24.6% 25.0%
Net margin 11.9% 11.7% 10.4% 14.0% 12.0% 13.1% 14.7% 16.4% 17.0% 17.8% 17.9% 19.1% 18.5% 18.2% 16.9% 18.9% 20.2% 20.2%
Free-cash-flow margin −6.6% −2.4% 5.3% 4.0% −0.2% −7.3% 10.0% 1.9% −6.5% −24.8% −26.1% −15.8% −10.5% −24.5% −30.7% −8.4% −16.4% −15.5%
Cash flow
Cash from operations 14 18 19 23 21 18 28 30 36 29 19 20 31 24 32 37 40 40
Capital spending 18 20 16 21 21 24 21 28 41 49 41 34 41 48 62 46 59 58
Free cash flow −4 −2 3 3 −0 −5 8 2 −5 −20 −22 −14 −10 −24 −30 −9 −18 −18
Stock-based pay — 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Free cash flow after stock pay — −2 3 3 −0 −5 8 1 −6 −20 −22 −14 −10 −24 −31 −9 −19 −19
Balance sheet
Cash 0 0 0 1 0 0 0 0 1 0 1 0 0 1 3 1 0 10
Total debt 0 136 120 118 117 125 115 111 117 134 153 171 172 198 183 181 182 185
Net debt (negative = net cash) −0 135 120 117 117 124 115 111 116 133 153 171 171 196 180 180 182 175
Diluted shares — 8m 8m 9m 9m 9m 9m 9m 9m 9m 9m 9m 9m 9m 10m 10m 10m 10m
Returned to shareholders
Dividends 5 6 6 7 7 8 8 8 8 9 9 9 10 10 11 12 13 13
Total returned 5 6 6 7 7 8 8 8 8 9 9 9 10 10 11 12 13 13

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 6 checks passed · June 30, 2026
What it owns · $884m
Short-term assets $31mLonger-term assets $853m
What it owes, and who funded it · $287m
Short-term liabilities $30mShareholders' equity $256m
  • Short-term assets cover short-term liabilities $31m of assets due within a year against $30m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $10m of cash against $183m of debt.
  • Debt below 40% of shareholders' equity Debt is 71% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 80% to 71% over five years.
  • A year's operating cash flow covers at least 20% of debt $40m of operating cash flow against $183m of debt.
  • Operating profit covers interest at least five times over Operating income of $29m against $9m of interest.

From Artesian Resources Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$12.9M
Returned to shareholders
-71%
of free cash flow
Diluted share count
+0.2%
year over year
Total shareholder yield
3.7%
dividends 3.7% + buybacks 0.0% of market value
Dividend payout ratio
55%
of net income paid out
Days sales outstanding
33 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in water utilities
Last 12 months unless stated ARTNA YORW MSEX GWRS PCYO AWR Median
Revenue, last 12 months $117m $83m $212m $60m $34m $697m $455m
Revenue growth, last 12 months 5.9% 9.4% 8.9% 10.8% 22.9% 13.2% 7.4%
Revenue growth, 3-year average 5.6% 8.6% 8.4% 7.0% 15.1% 6.4% 8.4%
Revenue growth, latest quarter 7.4% 22.5% 11.3% 24.8% 60.0% 11.2% 7.4%
Gross margin — — — — 62.0% 90.1% 49.5%
Operating margin 25.0% 36.6% 30.5% 13.6% 37.7% 31.8% 30.5%
Operating margin, 3-year average 24.5% 37.6% 28.6% 16.3% 31.8% 31.3% 28.6%
Net margin 20.2% 28.5% 24.5% 5.2% 43.7% 20.5% 20.9%
Cash from operations / revenue 34.4% 40.2% 32.7% 34.1% 22.5% 33.9% 33.3%
Free-cash-flow margin −15.5% −17.0% 18.4% −40.5% 19.2% 3.0% 8.4%
Free-cash-flow margin, 3-year average −14.4% −25.3% 9.3% −33.6% 20.4% −4.4% 2.5%
Stock pay / revenue 0.3% — 0.8% 1.5% 1.4% 0.5% 0.7%
Change in share count 0.2% 2.9% 3.8% 13.3% 0.1% 2.3% 2.4%

Median of all 12 companies we cover in water utilities. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

12 water utilities companies
Measure Company Peer median Rank
Revenue growth Growth 5.9% 8.9% 7 of 12
Change in growth rate Growth +0.8pp +0.9pp 7 of 12
Operating margin Profitability 25.0% 30.5% 7 of 11
Net margin Profitability 20.2% 21.3% 8 of 12
Free-cash-flow margin Cash generation -15.5% 13.8% 8 of 12
Stock pay as % of revenue Cash generation 0.3% 0.8% 1 of 9
Long-term debt as % of assets Balance sheet 20.7% 26.9% 2 of 12
Change in share count Balance sheet 0.2% 2.3% 3 of 11
Days sales outstanding Balance sheet 33 days 32 days 7 of 11

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue YoY
Regulated Utility $106M ▲ 4.2%
Reportable Segment Aggregation Before Other Operating $106M ▲ 4.2%
All Other Segments $7.7M ▲ 9.8%

These categories overlap or exclude eliminations, so shares aren't shown.

Products and services
Line of business Revenue Share YoY
Water Sales $90.9M 80.5% ▲ 3.2%
Other Utility Operating Revenue $14.6M 12.9% ▲ 11.2%
Non Utility Operating Revenue $7.4M 6.6% ▲ 10.2%

From Artesian Resources Corp's 10-K filed March 16, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$181M
Institutions reporting
106
Shares held vs prior quarter
▼ 2.1%
Positions opened / closed
14 / 12

Top buyers and sellers, Q2 2026: 58 institutions bought and 44 sold ; the biggest buyer was Blackrock, Inc (+39K shares) and the biggest seller UBS Group AG (−138K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
T. Rowe Price Investment Management, Inc. $31M 912K 17.1% ▲ 0.5%
Vanguard Capital Management LLC $13.6M 399K 7.5% ▲ 2.8%
Renaissance Technologies LLC $10.2M 301K 5.7% ▼ 6.0%
Blackrock, Inc. $7.1M 209K 3.9% ▲ 22.6%
Morgan Stanley $7.1M 208K 3.9% ▲ 5.9%
Adage Capital Partners Gp, L.L.C. $6.8M 200K 3.8% 0.0%
Dimensional Fund Advisors LP $6.5M 192K 3.6% ▲ 1.2%
Two Sigma Investments, LP $6.2M 183K 3.4% ▲ 9.3%
Kestra Advisory Services, LLC $5.6M 165K 3.1% ▼ 0.7%
Prospera Financial Services Inc $5.3M 157K 2.9% ▼ 0.6%
Roffman Miller Associates Inc $5M 148K 2.8% ▲ 1.0%
Geode Capital Management, LLC $4.2M 124K 2.3% ▲ 21.4%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Artesian Resources Corp's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $1M 16 trades by 1 insider · 0% under pre-set plans
Net ▼ $1M net selling
Insider Date Trade Shares Price Value
Taylor Dian C Director September 17, 2026 Sell 2,000 $35.29 $70,580
Taylor Dian C Director September 16, 2026 Sell 2,000 $35.05 $70,100
Taylor Dian C Director September 3, 2026 Sell 2,000 $36.11 $72,220
Taylor Dian C Director September 3, 2026 Sell 1,876 $36.11 $67,742
Taylor Dian C Director September 2, 2026 Sell 1,124 $36.00 $40,464
Taylor Dian C Director August 31, 2026 Sell 2,000 $35.50 $71,000
Taylor Dian C Director August 28, 2026 Sell 2,000 $35.50 $71,000
Taylor Dian C Director August 25, 2026 Sell 2,000 $35.68 $71,360
Taylor Dian C Director August 20, 2026 Sell 2,000 $35.30 $70,600
Taylor Dian C Director August 18, 2026 Sell 2,000 $35.00 $70,000
Taylor Dian C Director August 17, 2026 Sell 2,000 $35.01 $70,020
Taylor Dian C Director March 23, 2026 Sell 1,000 $31.25 $31,250

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around October 30, 2026 estimated from the company's past filing pattern, not announced

  • August 7, 2026
  • May 6, 2026
  • March 13, 2026
  • October 31, 2025
  • August 5, 2025
  • May 6, 2025

Recent SEC filings

Data status

When each part of this page on Artesian Resources Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Artesian Resources Corp in brief

What does Artesian Resources Corp do?
Artesian Resources Corp is a US-listed company in the water utilities industry. Its financial year ends in December.
What is Artesian Resources Corp's stock ticker?
Artesian Resources Corp trades under the ticker ARTNA on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Artesian Resources Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Artesian Resources Corp reported revenue of $117M, 5.9% higher than a year earlier, according to its SEC filings.
What is Artesian Resources Corp's free cash flow?
Artesian Resources Corp's free-cash-flow margin is -15.5% of revenue over the trailing twelve months, ranking 8 of the 12 water utilities companies we cover.
Who are Artesian Resources Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are T. Rowe Price Investment Management, Inc., Vanguard Capital Management LLC and Renaissance Technologies LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Artesian Resources Corp's market cap?
On November 2, 2026, Artesian Resources Corp's market capitalisation was about $351M, with a price-to-earnings ratio of 14.9 and net debt of $175M. Market figures come from third-party market data and may be delayed.
Does Artesian Resources Corp pay a dividend?
Yes: Artesian Resources Corp paid $12.9M in dividends over the trailing twelve months, a dividend yield of 3.68% and a payout ratio of 54.8%.
How much debt does Artesian Resources Corp have?
Artesian Resources Corp's debt-to-equity ratio is 71.2%, from its latest balance sheet (80.5% five years earlier). The financial health section below sets out its other solvency checks.
Who are Artesian Resources Corp's competitors?
In our Water Utilities peer group, the companies closest to Artesian Resources Corp are York Water Co, Middlesex Water Co, Global Water Resources, Inc., Pure Cycle Corp and American States Water Co. The side-by-side comparison below sets their revenue, margins and growth against Artesian Resources Corp's.
Are insiders buying or selling Artesian Resources Corp stock?
Over the last 12 months, Artesian Resources Corp's directors and officers reported 0 open-market purchases and 16 sales on Form 4. The insider trading page charts every trade.
When is Artesian Resources Corp's next earnings date?
Around November 10, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Artesian Resources Corp announces its own schedule.