Artesian Resources (ARTNA) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Artesian Resources

NasdaqGS•Utilities•Utilities - Regulated Water

$35.85-0.05(<0.01%)Pre-market

Market Cap

$361.38M

P/E

15.3x

P/S

3.1x

P/B

1.4x

Artesian Resources Corporation provides water, wastewater, and other services in Delaware, Maryland, and Pennsylvania. The company distributes and sells water to residential, commercial, industrial, governmental, municipal, and utility customers, as well as for public and private fire protection; and offers wastewater collection, treatment infrastructure, and wastewater services to customers. It also provides contract water and wastewater operations; water, sewer, and internal service line protection plans; and wastewater management services, as well as design, construction, and engineering services. In addition, the company offers services to other water utilities; owns real estate properties, including land for office buildings, a water treatment plant, and wastewater facility; and provides design, installation, maintenance, and repair services. As of December 31, 2025, it served customers in Delaware, Maryland, and Pennsylvania through 1,515 miles of transmission and distribution mains. Artesian Resources Corporation was founded in 1905 and is headquartered in Newark, Delaware.

How this company scores

AverageMetricSide Score: 55/100

Strongest: Profitability (21/25); weakest: Cash & Earnings Quality (1/25).

Profitability21/25

Growth18/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality1/25

Strengths

Strong marginsProfit converts from growthConsistent growthImproving margins

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 15.3x5y range 14.4x – 30.9x

Currently below its 20-quarter median.

P/S · 3.1x5y range 2.9x – 5.6x

Currently near its 20-quarter median.

P/B · 1.4x5y range 1.3x – 3.0x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Earnings Quality

Red Flag

Free cash flow has been negative in 7 of the last 8 quarters — earnings are not translating to cash.

Cash Burn

Red Flag

The last 5 consecutive quarters had negative FCF — the company is burning cash and may need external funding.

Price & Volume

Market Cap $361.38M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $116.94M
Q. Revenue: $30.66M
TTM EBITDA: $43.28M
TTM Op. Income: $29.27M
Q. Op. Income: $8.62M
TTM Net Income: $23.61M
Q. Net Income: $6.58M
EPS: $0.64
Shares Out.: $10.32M

$116.94M in TTM revenue grew 5.9% YoY, reaching $30.66M last quarter. TTM EBITDA of $43.28M and TTM operating income of $29.27M show growth is flowing through to the bottom line. TTM net income of $23.61M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 39.6%
Op. Margin: 28.1%
Net Margin: 21.4%

Op. margin of 28.1% is up 0.6% YoY — cost efficiency is improving. Net margin at 21.4% Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 15.3x
P/S Ratio: 3.1x
P/B Ratio: 1.4x

At 15.3x P/E, the stock trades within typical market levels. P/S of 3.1x and P/B of 1.4x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has risen for 2 consecutive quarters — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $884.01M
Cash: $9.80M
Long-Term Debt: $182.55M
Book Value: $256.24M
D/E Ratio: 0.7
Debt/EBITDA: 15.0

With $884.01M in assets and $182.55M in long-term debt, D/E is 0.7and book value is $256.24M — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is down 0% — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $10.18M
TTM Free Cash Flow: $-18.18M
FCF Margin: -15.5%
FCF / Net Income: -0.8

TTM FCF of $-18.18M on $10.18M in operating cash flow. The FCF / Net Income ratio of -0.8x means the business consumes cash — it is not yet self-funding. Over the past year, free cash flow is down 3% — an improving trend.