Artesian Resources (ARTNA) Financials

$34.33 -0.43 (-1.24%)

Closing price 04/25/2025 04:00 PM Eastern

Extended Trading

$34.26 -0.07 (-0.22%)

As of 04/25/2025 05:30 PM Eastern

Annual Income Statements for Artesian Resources

This table shows Artesian Resources' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	18	17	20
Consolidated Net Income / (Loss)	18	17	20
Net Income / (Loss) Continuing Operations	27	26	29
Total Pre-Tax Income	27	26	29
Total Operating Income	24	22	26
Total Gross Profit	99	99	108
Total Revenue	99	99	108
Operating Revenue	99	99	108
Total Cost of Revenue	0.00	0.00	0.00
Total Operating Expenses	75	76	82
Selling, General & Admin Expense	6.85	4.43	4.74
Depreciation Expense	13	13	14
Other Operating Expenses / (Income)	56	59	63
Total Other Income / (Expense), net	2.59	3.41	3.02
Other Income / (Expense), net	2.59	3.41	3.02
Other Adjustments to Consolidated Net Income / (Loss)	-8.50	-9.16	-8.78
Basic Earnings per Share	$1.90	$1.67	$1.98
Weighted Average Basic Shares Outstanding	9.46M	10.02M	10.29M
Diluted Earnings per Share	$1.90	$1.67	$1.98
Weighted Average Diluted Shares Outstanding	9.48M	10.02M	10.30M
Weighted Average Basic & Diluted Shares Outstanding	9.50M	10.29M	10.30M
Cash Dividends to Common per Share	$1.09	$1.14	$1.18

This table shows Artesian Resources' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	6.14	2.33	3.71	4.44	5.07	3.48	4.41	5.33	6.81	3.85
Consolidated Net Income / (Loss)	6.14	2.33	3.71	4.44	5.07	3.48	4.41	5.33	6.81	3.85
Net Income / (Loss) Continuing Operations	8.37	6.51	6.12	6.78	7.27	5.68	6.58	7.50	9.01	6.09
Total Pre-Tax Income	8.37	7.96	6.12	6.78	7.27	5.68	6.58	7.50	9.01	6.09
Total Operating Income	8.08	4.24	4.06	6.21	6.66	5.52	4.72	7.20	8.59	5.64
Total Gross Profit	27	25	22	25	27	25	25	27	29	27
Total Revenue	27	25	22	25	27	25	25	27	29	27
Operating Revenue	27	25	22	25	27	25	25	27	29	27
Total Operating Expenses	19	21	18	19	20	19	20	20	21	21
Selling, General & Admin Expense	1.57	2.43	1.09	1.12	1.12	1.10	1.12	1.15	1.21	1.27
Depreciation Expense	3.21	3.27	3.22	3.22	3.44	3.45	3.47	3.43	3.29	3.45
Other Operating Expenses / (Income)	14	15	14	15	15	14	15	16	16	16
Total Other Income / (Expense), net	0.29	3.72	2.06	0.58	0.61	0.16	1.86	0.30	0.42	0.45
Other Income / (Expense), net	0.29	1.83	2.06	0.58	0.61	0.16	1.86	0.30	0.42	0.45
Other Adjustments to Consolidated Net Income / (Loss)	-2.23	-	-2.42	-2.34	-2.20	-2.20	-2.17	-2.18	-2.19	-2.24
Basic Earnings per Share	$0.65	$0.24	$0.39	$0.44	$0.49	$0.35	$0.43	$0.52	$0.66	$0.37
Weighted Average Basic Shares Outstanding	9.48M	9.46M	9.50M	10.00M	10.28M	10.02M	10.29M	10.29M	10.30M	10.29M
Diluted Earnings per Share	$0.65	$0.25	$0.39	$0.44	$0.49	$0.35	$0.43	$0.52	$0.66	$0.37
Weighted Average Diluted Shares Outstanding	9.49M	9.48M	9.51M	10.00M	10.28M	10.02M	10.29M	10.30M	10.30M	10.30M
Weighted Average Basic & Diluted Shares Outstanding	9.49M	9.50M	9.51M	10.28M	10.28M	10.29M	10.29M	10.30M	10.30M	10.30M
Cash Dividends to Common per Share	$0.27	$0.28	$0.28	$0.28	$0.28	$0.29	$0.29	$0.30	$0.30	$0.30

This table details how cash moves in and out of Artesian Resources' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Change in Cash & Equivalents	1.22	1.20	-1.36
Net Cash From Operating Activities	24	32	37
Net Cash From Continuing Operating Activities	24	32	37
Net Income / (Loss) Continuing Operations	18	17	20
Consolidated Net Income / (Loss)	18	17	20
Depreciation Expense	13	13	14
Amortization Expense	0.35	0.36	0.35
Non-Cash Adjustments To Reconcile Net Income	-0.67	-1.25	-0.68
Changes in Operating Assets and Liabilities, net	-6.03	2.71	3.13
Net Cash From Investing Activities	-55	-62	-45
Net Cash From Continuing Investing Activities	-55	-62	-45
Purchase of Property, Plant & Equipment	-48	-62	-46
Acquisitions	-6.34	0.00	0.00
Sale of Property, Plant & Equipment	0.07	0.10	0.62
Net Cash From Financing Activities	32	31	7.14
Net Cash From Continuing Financing Activities	32	31	7.14
Repayment of Debt	-43	-25	-2.24
Repurchase of Common Equity	0.00	-0.32	0.00
Payment of Dividends	-10	-11	-12
Issuance of Debt	66	8.88	0.76
Issuance of Common Equity	2.09	37	0.35
Other Financing Activities, net	16	23	20
Cash Interest Paid	8.43	7.52	9.77
Cash Income Taxes Paid	3.48	3.59	5.73

This table details how cash moves in and out of Artesian Resources' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	-0.11	1.20	-1.19	5.81	0.54	-3.95	7.00	-3.25	4.45	-9.56
Net Cash From Operating Activities	11	-0.79	11	4.71	8.14	8.49	13	6.87	11	6.70
Net Cash From Continuing Operating Activities	11	-0.79	11	4.71	8.14	8.49	13	6.87	11	6.70
Net Income / (Loss) Continuing Operations	6.14	2.33	3.71	4.44	5.07	3.48	4.41	5.33	6.81	3.85
Consolidated Net Income / (Loss)	6.14	2.33	3.71	4.44	5.07	3.48	4.41	5.33	6.81	3.85
Depreciation Expense	3.21	3.27	3.22	3.22	3.44	3.45	3.47	3.42	3.29	3.45
Amortization Expense	-	-	0.09	0.09	0.09	0.09	0.14	0.04	0.09	0.09
Non-Cash Adjustments To Reconcile Net Income	-0.05	0.32	0.10	-0.54	-0.69	-0.12	-0.07	-1.03	0.31	0.11
Changes in Operating Assets and Liabilities, net	2.16	-7.06	3.39	-2.49	0.22	1.59	4.65	-0.90	0.16	-0.79
Net Cash From Investing Activities	-13	-12	-17	-16	-17	-13	-8.32	-9.44	-13	-15
Net Cash From Continuing Investing Activities	-13	-12	-17	-16	-17	-13	-8.32	-9.44	-13	-15
Purchase of Property, Plant & Equipment	-13	-12	-17	-16	-17	-13	-8.92	-9.45	-13	-15
Sale of Property, Plant & Equipment	0.01	0.02	0.05	0.01	0.01	0.02	0.60	0.01	0.01	0.00
Net Cash From Financing Activities	1.81	14	5.04	17	8.91	0.87	2.73	-0.68	6.34	-1.25
Net Cash From Continuing Financing Activities	1.81	14	5.04	17	8.91	0.87	2.73	-0.68	6.34	-1.25
Repayment of Debt	-0.38	-41	-1.99	-23	-0.35	-0.50	-0.39	-0.83	-0.50	-0.52
Payment of Dividends	-2.58	-2.64	-2.65	-2.54	-3.08	-2.98	-2.98	-3.04	-3.04	-3.10
Issuance of Debt	0.44	53	4.32	0.73	5.24	-1.41	0.80	0.02	3.84	-3.91
Issuance of Common Equity	0.77	0.39	0.09	36	0.27	0.23	0.09	0.09	0.08	0.09
Other Financing Activities, net	3.56	4.86	5.26	4.89	6.84	5.53	5.20	3.08	5.96	6.19
Cash Interest Paid	1.76	2.67	1.97	2.88	1.00	1.67	2.51	1.68	3.00	2.58
Cash Income Taxes Paid	0.69	2.05	0.01	2.07	1.40	0.11	0.01	1.98	2.47	1.28

This table presents Artesian Resources' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Total Assets	720	767	799
Total Current Assets	28	31	25
Cash & Equivalents	1.31	2.51	1.15
Accounts Receivable	15	15	13
Inventories, net	4.70	5.98	4.28
Prepaid Expenses	2.88	3.30	3.09
Current Deferred & Refundable Income Taxes	3.82	4.07	2.81
Plant, Property, & Equipment, net	3.74	3.69	3.60
Total Noncurrent Assets	688	733	770
Goodwill	1.94	1.94	1.94
Other Noncurrent Operating Assets	686	731	769
Total Liabilities & Shareholders' Equity	720	767	799
Total Liabilities	532	536	559
Total Current Liabilities	44	22	26
Short-Term Debt	22	2.24	2.17
Accounts Payable	11	9.70	11
Accrued Expenses	4.25	3.52	5.34
Customer Deposits	-	2.98	3.35
Current Deferred & Payable Income Tax Liabilities	0.01	0.00	0.50
Other Current Liabilities	3.23	1.70	2.09
Other Current Nonoperating Liabilities	0.99	2.28	0.93
Total Noncurrent Liabilities	488	514	534
Long-Term Debt	176	178	177
Noncurrent Deferred Revenue	3.69	2.80	1.58
Noncurrent Deferred & Payable Income Tax Liabilities	55	59	53
Other Noncurrent Operating Liabilities	253	274	303
Commitments & Contingencies	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	188	230	239
Total Preferred & Common Equity	188	230	239
Preferred Stock	0.00	0.00	0.00
Total Common Equity	188	230	239
Common Stock	117	154	154
Retained Earnings	71	77	85

This table presents Artesian Resources' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	703	726	750	762	775	783	796
Total Current Assets	23	22	30	34	31	29	34
Cash & Equivalents	0.11	0.12	5.92	6.46	9.50	6.25	11
Accounts Receivable	14	12	14	12	12	14	13
Inventories, net	2.51	5.26	5.79	5.49	4.85	4.76	4.46
Prepaid Expenses	2.72	2.90	3.83	3.29	2.89	3.47	3.18
Current Deferred & Refundable Income Taxes	3.85	1.82	1.00	6.28	1.19	0.17	3.48
Plant, Property, & Equipment, net	3.76	3.73	3.71	3.71	3.64	3.62	3.61
Total Noncurrent Assets	676	700	716	724	741	750	758
Goodwill	2.98	1.94	1.94	1.94	1.94	1.94	1.94
Other Noncurrent Operating Assets	673	699	714	722	739	748	756
Total Liabilities & Shareholders' Equity	703	726	750	762	775	783	796
Total Liabilities	515	537	523	532	543	549	558
Total Current Liabilities	33	44	25	27	22	22	28
Short-Term Debt	11	24	2.10	2.22	2.21	2.23	2.33
Accounts Payable	9.08	8.10	9.22	8.43	7.88	7.80	9.65
Accrued Expenses	4.14	4.06	6.16	4.64	4.34	4.87	5.57
Customer Deposits	2.48	2.51	2.57	2.75	2.93	-	3.21
Dividends Payable	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Current Deferred & Payable Income Tax Liabilities	1.10	0.62	0.19	0.03	0.83	0.65	0.33
Other Current Liabilities	3.29	3.11	3.62	7.28	1.70	1.75	5.59
Other Current Nonoperating Liabilities	1.36	1.44	0.90	1.83	1.84	2.25	1.36
Total Noncurrent Liabilities	482	493	498	505	522	526	530
Long-Term Debt	174	176	176	176	178	177	177
Noncurrent Deferred Revenue	3.96	3.63	3.49	3.26	2.77	2.59	2.39
Noncurrent Deferred & Payable Income Tax Liabilities	55	55	56	59	59	51	53
Other Noncurrent Operating Liabilities	249	258	263	267	282	295	298
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	188	189	227	230	232	234	238
Total Preferred & Common Equity	188	189	227	230	232	234	238
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	188	189	227	230	232	234	238
Common Stock	116	117	153	153	154	154	154
Retained Earnings	72	72	74	76	78	80	84

This table displays calculated financial ratios and metrics derived from Artesian Resources' official financial filings.

Metric	2022	2023	2024
Growth Metrics	-	-	-
Revenue Growth	8.85%	-0.04%	9.20%
EBITDA Growth	7.69%	0.18%	9.13%
EBIT Growth	8.52%	-2.43%	12.83%
NOPAT Growth	7.23%	-6.11%	16.51%
Net Income Growth	6.96%	-7.22%	22.13%
EPS Growth	6.15%	-12.11%	18.56%
Operating Cash Flow Growth	-22.50%	31.26%	15.61%
Free Cash Flow Firm Growth	-184.59%	74.29%	772.45%
Invested Capital Growth	9.99%	6.57%	1.69%
Revenue Q/Q Growth	2.37%	-0.58%	2.18%
EBITDA Q/Q Growth	1.02%	0.37%	0.96%
EBIT Q/Q Growth	-1.12%	-1.49%	1.44%
NOPAT Q/Q Growth	-2.56%	6.04%	0.49%
Net Income Q/Q Growth	20.56%	7.43%	1.82%
EPS Q/Q Growth	-3.55%	6.37%	1.02%
Operating Cash Flow Q/Q Growth	-33.85%	41.09%	-4.63%
Free Cash Flow Firm Q/Q Growth	-3,572.50%	60.92%	-8.08%
Invested Capital Q/Q Growth	2.89%	1.90%	2.32%
Profitability Metrics	-	-	-
Gross Margin	100.00%	100.00%	100.00%
EBITDA Margin	39.91%	40.00%	39.98%
Operating Margin	24.17%	22.70%	24.22%
EBIT Margin	26.80%	26.15%	27.02%
Profit (Net Income) Margin	18.20%	16.89%	18.89%
Tax Burden Percent	67.92%	64.59%	69.91%
Interest Burden Percent	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	6.50%	5.64%	6.31%
ROIC Less NNEP Spread (ROIC-NNEP)	3.30%	2.60%	3.10%
Return on Net Nonoperating Assets (RNNOA)	3.34%	2.34%	2.37%
Return on Equity (ROE)	9.84%	7.98%	8.69%
Cash Return on Invested Capital (CROIC)	-3.02%	-0.72%	4.64%
Operating Return on Assets (OROA)	3.94%	3.48%	3.73%
Return on Assets (ROA)	2.68%	2.25%	2.61%
Return on Common Equity (ROCE)	9.84%	7.98%	8.69%
Return on Equity Simple (ROE_SIMPLE)	9.58%	7.25%	8.53%
Net Operating Profit after Tax (NOPAT)	24	22	26
NOPAT Margin	24.17%	22.70%	24.22%
Net Nonoperating Expense Percent (NNEP)	3.19%	3.04%	3.21%
Return On Investment Capital (ROIC_SIMPLE)	6.20%	5.46%	6.26%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	6.93%	4.48%	4.39%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	75.83%	77.30%	75.78%
Earnings before Interest and Taxes (EBIT)	27	26	29
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	39	40	43
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	2.77	1.77	1.35
Price to Tangible Book Value (P/TBV)	2.80	1.79	1.36
Price to Revenue (P/Rev)	5.27	4.13	2.99
Price to Earnings (P/E)	28.96	24.46	15.81
Dividend Yield	2.50%	2.86%	3.77%
Earnings Yield	3.45%	4.09%	6.32%
Enterprise Value to Invested Capital (EV/IC)	1.86	1.43	1.20
Enterprise Value to Revenue (EV/Rev)	7.26	5.93	4.63
Enterprise Value to EBITDA (EV/EBITDA)	18.18	14.83	11.59
Enterprise Value to EBIT (EV/EBIT)	27.08	22.68	17.14
Enterprise Value to NOPAT (EV/NOPAT)	30.02	26.13	19.12
Enterprise Value to Operating Cash Flow (EV/OCF)	29.58	18.41	13.58
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	26.03
Leverage & Solvency	-	-	-
Debt to Equity	1.05	0.78	0.75
Long-Term Debt to Equity	0.93	0.77	0.74
Financial Leverage	1.01	0.90	0.76
Leverage Ratio	3.67	3.55	3.33
Compound Leverage Factor	3.67	3.55	3.33
Debt to Total Capital	51.28%	43.93%	42.76%
Short-Term Debt to Total Capital	5.75%	0.54%	0.52%
Long-Term Debt to Total Capital	45.53%	43.39%	42.24%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%
Common Equity to Total Capital	48.72%	56.07%	57.24%
Debt to EBITDA	5.01	4.57	4.14
Net Debt to EBITDA	4.98	4.50	4.11
Long-Term Debt to EBITDA	4.45	4.51	4.09
Debt to NOPAT	8.27	8.04	6.83
Net Debt to NOPAT	8.22	7.93	6.79
Long-Term Debt to NOPAT	7.35	7.94	6.75
Altman Z-Score	0.96	0.85	0.75
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-
Current Ratio	0.63	1.37	0.96
Quick Ratio	0.37	0.77	0.56
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	-11	-2.86	19
Operating Cash Flow to CapEx	50.12%	51.31%	81.25%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00
Efficiency Ratios	-	-	-
Asset Turnover	0.15	0.13	0.14
Accounts Receivable Turnover	8.06	6.62	7.72
Inventory Turnover	0.00	0.00	0.00
Fixed Asset Turnover	26.40	26.60	29.59
Accounts Payable Turnover	0.00	0.00	0.00
Days Sales Outstanding (DSO)	45.29	55.12	47.28
Days Inventory Outstanding (DIO)	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	45.29	55.12	47.28
Capital & Investment Metrics	-	-	-
Invested Capital	385	411	418
Invested Capital Turnover	0.27	0.25	0.26
Increase / (Decrease) in Invested Capital	35	25	6.94
Enterprise Value (EV)	718	586	500
Market Capitalization	521	408	322
Book Value per Share	$19.80	$22.42	$23.23
Tangible Book Value per Share	$19.60	$22.23	$23.04
Total Capital	386	411	418
Total Debt	198	181	179
Total Long-Term Debt	176	178	177
Net Debt	196	178	178
Capital Expenditures (CapEx)	48	62	45
Debt-free, Cash-free Net Working Capital (DFCFNWC)	4.60	7.93	-0.05
Debt-free Net Working Capital (DFNWC)	5.91	10	1.10
Net Working Capital (NWC)	-16	8.20	-1.07
Net Nonoperating Expense (NNE)	5.91	5.75	5.76
Net Nonoperating Obligations (NNO)	197	180	178
Total Depreciation and Amortization (D&A)	13	14	14
Debt-free, Cash-free Net Working Capital to Revenue	4.65%	8.02%	-0.04%
Debt-free Net Working Capital to Revenue	5.98%	10.56%	1.02%
Net Working Capital to Revenue	-16.45%	8.30%	-0.99%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$1.90	$1.67	$1.98
Adjusted Weighted Average Basic Shares Outstanding	9.46M	10.02M	10.29M
Adjusted Diluted Earnings per Share	$1.90	$1.67	$1.98
Adjusted Weighted Average Diluted Shares Outstanding	9.48M	10.02M	10.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	9.50M	10.29M	10.30M
Normalized Net Operating Profit after Tax (NOPAT)	17	16	18
Normalized NOPAT Margin	16.92%	15.89%	16.96%
Pre Tax Income Margin	26.80%	26.15%	27.02%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00
Payout Ratios	-	-	-
Dividend Payout Ratio	57.33%	67.32%	59.66%
Augmented Payout Ratio	57.33%	69.22%	59.66%

This table displays calculated financial ratios and metrics derived from Artesian Resources' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	6.67%	10.04%	1.39%	0.96%	-0.05%	-2.28%	9.11%	8.57%	9.68%	9.39%
EBITDA Growth	16.59%	0.46%	17.81%	-0.99%	-6.73%	-1.29%	7.93%	8.65%	14.61%	4.46%
EBIT Growth	20.21%	-4.71%	24.33%	-4.91%	-13.15%	-6.46%	7.45%	10.55%	23.83%	7.28%
NOPAT Growth	17.16%	-12.92%	-14.40%	-9.28%	-17.58%	30.18%	16.23%	15.95%	28.96%	2.30%
Net Income Growth	-11.80%	412.50%	-17.35%	-11.95%	-17.46%	49.68%	19.06%	19.85%	34.35%	10.49%
EPS Growth	20.37%	-21.88%	-17.02%	-16.98%	-24.62%	40.00%	10.26%	18.18%	34.69%	5.71%
Operating Cash Flow Growth	94.11%	-106.75%	-11.09%	166.42%	-28.99%	1,181.66%	19.85%	45.66%	31.00%	-21.07%
Free Cash Flow Firm Growth	-68.68%	-617.48%	-254.24%	-43.21%	-35.23%	35.72%	70.59%	87.75%	115.89%	93.46%
Invested Capital Growth	6.91%	9.99%	10.51%	8.29%	7.60%	6.57%	3.70%	2.55%	1.27%	1.69%
Revenue Q/Q Growth	6.28%	-5.51%	-10.44%	12.25%	5.22%	-7.62%	0.00%	11.70%	6.30%	-7.86%
EBITDA Q/Q Growth	13.69%	-19.39%	1.04%	6.92%	7.10%	-14.68%	11.55%	7.64%	12.96%	-22.23%
EBIT Q/Q Growth	17.38%	-27.54%	0.89%	10.81%	7.21%	-21.96%	15.89%	14.02%	20.08%	-32.39%
NOPAT Q/Q Growth	18.11%	-47.56%	-4.20%	52.91%	7.30%	-17.17%	-14.46%	52.53%	19.34%	-34.30%
Net Income Q/Q Growth	21.76%	-62.16%	59.35%	19.92%	14.13%	-31.37%	26.75%	20.72%	27.94%	-43.56%
EPS Q/Q Growth	22.64%	-61.54%	56.00%	12.82%	11.36%	-28.57%	22.86%	20.93%	26.92%	-43.94%
Operating Cash Flow Q/Q Growth	547.94%	-106.85%	1,438.60%	-55.15%	72.69%	4.32%	48.32%	-45.49%	55.31%	-37.14%
Free Cash Flow Firm Q/Q Growth	5.33%	-90.79%	-7.42%	26.19%	10.61%	9.31%	50.85%	69.26%	215.96%	-137.36%
Invested Capital Q/Q Growth	1.42%	2.89%	1.30%	2.44%	0.78%	1.90%	-1.42%	1.30%	-0.47%	2.32%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	43.58%	37.18%	41.94%	39.95%	40.66%	37.56%	41.49%	39.98%	42.49%	35.86%
Operating Margin	30.40%	16.87%	18.05%	24.59%	25.07%	22.48%	19.23%	26.25%	29.48%	21.02%
EBIT Margin	31.50%	24.16%	27.21%	26.87%	27.37%	23.12%	26.80%	27.36%	30.90%	22.68%
Profit (Net Income) Margin	23.11%	9.26%	16.47%	17.60%	19.09%	14.18%	17.97%	19.42%	23.38%	14.32%
Tax Burden Percent	73.37%	29.23%	60.52%	65.49%	69.72%	61.31%	67.06%	71.00%	75.65%	63.15%
Interest Burden Percent	100.00%	131.10%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	8.10%	4.54%	4.81%	6.36%	6.41%	5.58%	4.88%	6.68%	7.68%	5.48%
ROIC Less NNEP Spread (ROIC-NNEP)	7.03%	3.50%	4.63%	5.38%	5.53%	4.50%	4.71%	5.61%	6.64%	4.48%
Return on Net Nonoperating Assets (RNNOA)	7.03%	3.54%	4.68%	4.76%	4.77%	4.07%	4.19%	4.23%	4.87%	3.42%
Return on Equity (ROE)	15.14%	8.07%	9.49%	11.11%	11.18%	9.65%	9.07%	10.91%	12.55%	8.90%
Cash Return on Invested Capital (CROIC)	0.09%	-3.02%	-3.74%	-2.09%	-1.88%	-0.72%	2.18%	3.43%	5.15%	4.64%
Operating Return on Assets (OROA)	4.61%	3.55%	3.92%	3.75%	3.72%	3.08%	3.60%	3.68%	4.19%	3.13%
Return on Assets (ROA)	3.39%	1.36%	2.37%	2.46%	2.59%	1.89%	2.42%	2.61%	3.17%	1.98%
Return on Common Equity (ROCE)	15.14%	8.07%	9.49%	11.11%	11.18%	9.65%	9.07%	10.91%	12.55%	8.90%
Return on Equity Simple (ROE_SIMPLE)	7.95%	0.00%	9.10%	7.31%	6.77%	0.00%	7.50%	7.80%	8.40%	0.00%
Net Operating Profit after Tax (NOPAT)	8.08	4.24	4.06	6.21	6.66	5.52	4.72	7.20	8.59	5.64
NOPAT Margin	30.40%	16.87%	18.05%	24.59%	25.07%	22.48%	19.23%	26.25%	29.48%	21.02%
Net Nonoperating Expense Percent (NNEP)	1.07%	1.03%	0.19%	0.98%	0.88%	1.08%	0.16%	1.08%	1.04%	1.00%
Return On Investment Capital (ROIC_SIMPLE)	-	1.10%	-	-	-	1.34%	-	-	-	1.35%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	5.91%	9.68%	4.82%	4.44%	4.22%	4.48%	4.55%	4.18%	4.16%	4.73%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	69.60%	83.13%	81.95%	75.41%	74.93%	77.52%	80.77%	73.75%	70.52%	78.98%
Earnings before Interest and Taxes (EBIT)	8.37	6.07	6.12	6.78	7.27	5.68	6.58	7.50	9.01	6.09
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	12	9.34	9.44	10	11	9.22	10	11	12	9.63
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.28	2.77	2.67	1.91	1.82	1.77	1.62	1.53	1.61	1.35
Price to Tangible Book Value (P/TBV)	2.32	2.80	2.70	1.92	1.84	1.79	1.63	1.54	1.62	1.36
Price to Revenue (P/Rev)	4.44	5.27	5.09	4.35	4.21	4.13	3.73	3.48	3.62	2.99
Price to Earnings (P/E)	22.91	28.96	29.32	26.06	26.93	24.46	21.60	19.62	19.11	15.81
Dividend Yield	2.38%	2.50%	2.60%	3.06%	3.44%	2.86%	3.14%	3.32%	3.15%	3.77%
Earnings Yield	4.36%	3.45%	3.41%	3.84%	3.71%	4.09%	4.63%	5.10%	5.23%	6.32%
Enterprise Value to Invested Capital (EV/IC)	1.64	1.86	1.80	1.51	1.46	1.43	1.35	1.30	1.35	1.20
Enterprise Value to Revenue (EV/Rev)	6.36	7.26	7.10	6.08	5.94	5.93	5.42	5.16	5.22	4.63
Enterprise Value to EBITDA (EV/EBITDA)	15.73	18.18	17.42	15.02	14.98	14.83	13.58	12.93	12.90	11.59
Enterprise Value to EBIT (EV/EBIT)	22.93	27.08	25.44	22.12	22.49	22.68	20.79	19.69	19.17	17.14
Enterprise Value to NOPAT (EV/NOPAT)	25.05	30.02	30.34	26.78	27.88	26.13	23.68	22.09	21.18	19.12
Enterprise Value to Operating Cash Flow (EV/OCF)	16.75	29.58	30.70	23.35	26.15	18.41	16.12	14.75	14.28	13.58
Enterprise Value to Free Cash Flow (EV/FCFF)	1,920.39	0.00	0.00	0.00	0.00	0.00	63.15	38.27	26.38	26.03
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.99	1.05	1.06	0.78	0.78	0.78	0.78	0.77	0.75	0.75
Long-Term Debt to Equity	0.93	0.93	0.93	0.77	0.77	0.77	0.77	0.76	0.74	0.74
Financial Leverage	1.00	1.01	1.01	0.88	0.86	0.90	0.89	0.75	0.73	0.76
Leverage Ratio	3.64	3.67	3.73	3.49	3.51	3.55	3.56	3.32	3.33	3.33
Compound Leverage Factor	3.64	4.82	3.73	3.49	3.51	3.55	3.56	3.32	3.33	3.33
Debt to Total Capital	49.68%	51.28%	51.39%	43.88%	43.68%	43.93%	43.77%	43.40%	42.92%	42.76%
Short-Term Debt to Total Capital	3.06%	5.75%	6.09%	0.52%	0.54%	0.54%	0.54%	0.54%	0.56%	0.52%
Long-Term Debt to Total Capital	46.62%	45.53%	45.30%	43.36%	43.14%	43.39%	43.23%	42.86%	42.36%	42.24%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	50.32%	48.72%	48.61%	56.12%	56.32%	56.07%	56.23%	56.60%	57.08%	57.24%
Debt to EBITDA	4.75	5.01	4.94	4.41	4.52	4.57	4.48	4.37	4.19	4.14
Net Debt to EBITDA	4.74	4.98	4.94	4.27	4.36	4.50	4.25	4.21	3.94	4.11
Long-Term Debt to EBITDA	4.45	4.45	4.36	4.36	4.46	4.51	4.43	4.31	4.14	4.09
Debt to NOPAT	7.56	8.27	8.61	7.87	8.41	8.04	7.81	7.46	6.89	6.83
Net Debt to NOPAT	7.55	8.22	8.61	7.60	8.11	7.93	7.40	7.20	6.48	6.79
Long-Term Debt to NOPAT	7.09	7.35	7.59	7.77	8.31	7.94	7.72	7.37	6.80	6.75
Altman Z-Score	0.80	0.86	0.83	0.81	0.78	0.76	0.73	0.71	0.74	0.65
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.70	0.63	0.50	1.22	1.25	1.37	1.42	1.30	1.22	0.96
Quick Ratio	0.42	0.37	0.27	0.79	0.70	0.77	1.01	0.92	0.83	0.56
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-16	-31	-33	-24	-22	-20	-9.72	-2.99	3.47	-1.30
Operating Cash Flow to CapEx	85.63%	-6.65%	62.77%	30.39%	49.29%	63.77%	151.33%	72.74%	84.94%	44.66%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.15	0.15	0.14	0.14	0.14	0.13	0.13	0.13	0.14	0.14
Accounts Receivable Turnover	7.74	8.06	10.20	8.34	7.61	6.62	8.44	7.34	8.47	7.72
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	25.77	26.40	26.51	26.62	26.64	26.60	27.41	28.10	28.89	29.59
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	47.16	45.29	35.80	43.76	47.99	55.12	43.27	49.70	43.11	47.28
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	47.16	45.29	35.80	43.76	47.99	55.12	43.27	49.70	43.11	47.28
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	375	385	390	400	403	411	405	410	408	418
Invested Capital Turnover	0.27	0.27	0.27	0.26	0.26	0.25	0.25	0.25	0.26	0.26
Increase / (Decrease) in Invested Capital	24	35	37	31	28	25	14	10	5.12	6.94
Enterprise Value (EV)	615	718	705	605	590	586	547	532	551	500
Market Capitalization	429	521	505	433	419	408	376	359	383	322
Book Value per Share	$19.90	$19.80	$19.90	$23.90	$22.34	$22.42	$22.55	$22.79	$23.15	$23.23
Tangible Book Value per Share	$19.59	$19.60	$19.70	$23.70	$22.16	$22.23	$22.36	$22.60	$22.96	$23.04
Total Capital	373	386	389	405	408	411	413	414	418	418
Total Debt	185	198	200	178	178	181	181	180	179	179
Total Long-Term Debt	174	176	176	176	176	178	178	177	177	177
Net Debt	185	196	200	172	172	178	171	173	169	178
Capital Expenditures (CapEx)	13	12	17	16	17	13	8.32	9.44	13	15
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1.34	4.60	1.65	1.54	2.53	7.93	1.83	2.68	-2.07	-0.05
Debt-free Net Working Capital (DFNWC)	1.45	5.91	1.77	7.46	8.99	10	11	8.93	8.64	1.10
Net Working Capital (NWC)	-9.97	-16	-22	5.36	6.77	8.20	9.12	6.71	6.30	-1.07
Net Nonoperating Expense (NNE)	1.94	1.91	0.36	1.77	1.59	2.04	0.31	1.87	1.78	1.80
Net Nonoperating Obligations (NNO)	187	197	201	173	173	180	173	176	170	178
Total Depreciation and Amortization (D&A)	3.21	3.27	3.31	3.30	3.53	3.54	3.61	3.46	3.38	3.54
Debt-free, Cash-free Net Working Capital to Revenue	1.39%	4.65%	1.67%	1.55%	2.55%	8.02%	1.82%	2.60%	-1.96%	-0.04%
Debt-free Net Working Capital to Revenue	1.50%	5.98%	1.78%	7.51%	9.04%	10.56%	11.23%	8.67%	8.17%	1.02%
Net Working Capital to Revenue	-10.32%	-16.45%	-22.11%	5.39%	6.81%	8.30%	9.04%	6.51%	5.97%	-0.99%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.65	$0.24	$0.39	$0.44	$0.49	$0.35	$0.43	$0.52	$0.66	$0.37
Adjusted Weighted Average Basic Shares Outstanding	9.48M	9.46M	9.50M	10.00M	10.28M	10.02M	10.29M	10.29M	10.30M	10.29M
Adjusted Diluted Earnings per Share	$0.65	$0.25	$0.39	$0.44	$0.49	$0.35	$0.43	$0.52	$0.66	$0.37
Adjusted Weighted Average Diluted Shares Outstanding	9.49M	9.48M	9.51M	10.00M	10.28M	10.02M	10.29M	10.30M	10.30M	10.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	9.49M	9.50M	9.51M	10.28M	10.28M	10.29M	10.29M	10.30M	10.30M	10.30M
Normalized Net Operating Profit after Tax (NOPAT)	5.66	2.97	2.84	4.35	4.66	3.86	3.30	5.04	6.01	3.95
Normalized NOPAT Margin	21.28%	11.81%	12.63%	17.21%	17.55%	15.73%	13.46%	18.38%	20.63%	14.71%
Pre Tax Income Margin	31.50%	31.67%	27.21%	26.87%	27.37%	23.12%	26.80%	27.36%	30.90%	22.68%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	68.28%	57.33%	60.67%	62.62%	70.17%	67.32%	66.51%	66.07%	60.12%	59.66%
Augmented Payout Ratio	68.28%	57.33%	60.67%	64.50%	72.21%	69.22%	68.33%	66.09%	60.12%	59.66%

Frequently Asked Questions About Artesian Resources' Financials

When does Artesian Resources's financial year end?

According to the most recent income statement we have on file, Artesian Resources' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Artesian Resources' net income changed over the last 2 years?

Artesian Resources' net income appears to be on an upward trend, with a most recent value of $20.39 million in 2024, rising from $18.00 million in 2022. The previous period was $16.70 million in 2023.

What is Artesian Resources's operating income?

Artesian Resources's total operating income in 2024 was $26.15 million, based on the following breakdown:

Total Gross Profit: $107.95 million
Total Operating Expenses: $81.80 million

How has Artesian Resources revenue changed over the last 2 years?

Over the last 2 years, Artesian Resources' total revenue changed from $98.90 million in 2022 to $107.95 million in 2024, a change of 9.2%.

How much debt does Artesian Resources have?

Artesian Resources' total liabilities were at $559.43 million at the end of 2024, a 4.3% increase from 2023, and a 5.2% increase since 2022.

How much cash does Artesian Resources have?

In the past 2 years, Artesian Resources' cash and equivalents has ranged from $1.15 million in 2024 to $2.51 million in 2023, and is currently $1.15 million as of their latest financial filing in 2024.

How has Artesian Resources' book value per share changed over the last 2 years?

Over the last 2 years, Artesian Resources' book value per share changed from 19.80 in 2022 to 23.23 in 2024, a change of 17.3%.

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This page (NASDAQ:ARTNA) was last updated on 4/26/2025 by MarketBeat.com Staff

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Artesian Resources (ARTNA) Financials

Frequently Asked Questions About Artesian Resources' Financials

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Artesian Resources (ARTNA) Financials

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