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ARTESIAN RESOURCES CORP-CL A (ARTNA) Stock Fundamental Analysis

NASDAQ:ARTNA - Nasdaq - US0431132085 - Common Stock - Currency: USD

33.73  -0.6 (-1.73%)

After market: 33.73 0 (0%)

Fundamental Rating

4

ARTNA gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 14 industry peers in the Water Utilities industry. There are concerns on the financial health of ARTNA while its profitability can be described as average. ARTNA has a correct valuation and a medium growth rate. Finally ARTNA also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

In the past year ARTNA was profitable.
In the past year ARTNA had a positive cash flow from operations.
Each year in the past 5 years ARTNA has been profitable.
Each year in the past 5 years ARTNA had a positive operating cash flow.
ARTNA Yearly Net Income VS EBIT VS OCF VS FCFARTNA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M -20M

1.2 Ratios

ARTNA has a Return On Assets (2.65%) which is comparable to the rest of the industry.
ARTNA's Return On Equity of 8.86% is in line compared to the rest of the industry. ARTNA outperforms 50.00% of its industry peers.
ARTNA has a Return On Invested Capital of 3.21%. This is in the lower half of the industry: ARTNA underperforms 64.29% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for ARTNA is below the industry average of 5.08%.
The last Return On Invested Capital (3.21%) for ARTNA is above the 3 year average (3.04%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 2.65%
ROE 8.86%
ROIC 3.21%
ROA(3y)2.41%
ROA(5y)2.55%
ROE(3y)8.45%
ROE(5y)8.95%
ROIC(3y)3.04%
ROIC(5y)3.21%
ARTNA Yearly ROA, ROE, ROICARTNA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8

1.3 Margins

With a Profit Margin value of 19.60%, ARTNA perfoms like the industry average, outperforming 42.86% of the companies in the same industry.
In the last couple of years the Profit Margin of ARTNA has remained more or less at the same level.
With a decent Operating Margin value of 31.53%, ARTNA is doing good in the industry, outperforming 64.29% of the companies in the same industry.
ARTNA's Operating Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 31.53%
PM (TTM) 19.6%
GM N/A
OM growth 3Y0.16%
OM growth 5Y0.63%
PM growth 3Y0.66%
PM growth 5Y1.13%
GM growth 3YN/A
GM growth 5YN/A
ARTNA Yearly Profit, Operating, Gross MarginsARTNA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

2

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so ARTNA is destroying value.
ARTNA has about the same amout of shares outstanding than it did 1 year ago.
ARTNA has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, ARTNA has an improved debt to assets ratio.
ARTNA Yearly Shares OutstandingARTNA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2M 4M 6M 8M 10M
ARTNA Yearly Total Debt VS Total AssetsARTNA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

2.2 Solvency

Based on the Altman-Z score of 0.80, we must say that ARTNA is in the distress zone and has some risk of bankruptcy.
ARTNA has a Altman-Z score of 0.80. This is in the lower half of the industry: ARTNA underperforms 71.43% of its industry peers.
ARTNA has a Debt/Equity ratio of 0.73. This is a neutral value indicating ARTNA is somewhat dependend on debt financing.
With a decent Debt to Equity ratio value of 0.73, ARTNA is doing good in the industry, outperforming 78.57% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.73
Debt/FCF N/A
Altman-Z 0.8
ROIC/WACC0.39
WACC8.16%
ARTNA Yearly LT Debt VS Equity VS FCFARTNA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M 100M 150M 200M

2.3 Liquidity

A Current Ratio of 0.98 indicates that ARTNA may have some problems paying its short term obligations.
The Current ratio of ARTNA (0.98) is comparable to the rest of the industry.
A Quick Ratio of 0.77 indicates that ARTNA may have some problems paying its short term obligations.
ARTNA has a Quick ratio of 0.77. This is comparable to the rest of the industry: ARTNA outperforms 57.14% of its industry peers.
Industry RankSector Rank
Current Ratio 0.98
Quick Ratio 0.77
ARTNA Yearly Current Assets VS Current LiabilitesARTNA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M

5

3. Growth

3.1 Past

ARTNA shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 22.35%, which is quite impressive.
The Earnings Per Share has been growing slightly by 4.36% on average over the past years.
Looking at the last year, ARTNA shows a quite strong growth in Revenue. The Revenue has grown by 8.31% in the last year.
ARTNA shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 5.25% yearly.
EPS 1Y (TTM)22.35%
EPS 3Y3.42%
EPS 5Y4.36%
EPS Q2Q%23.26%
Revenue 1Y (TTM)8.31%
Revenue growth 3Y5.91%
Revenue growth 5Y5.25%
Sales Q2Q%5.47%

3.2 Future

The Earnings Per Share is expected to grow by 7.22% on average over the next years.
ARTNA is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.06% yearly.
EPS Next Y12.36%
EPS Next 2Y7.22%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year6.6%
Revenue Next 2Y5.06%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
ARTNA Yearly Revenue VS EstimatesARTNA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 20M 40M 60M 80M 100M
ARTNA Yearly EPS VS EstimatesARTNA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5 2

5

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 16.22, ARTNA is valued correctly.
Based on the Price/Earnings ratio, ARTNA is valued cheaper than 92.86% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 26.43. ARTNA is valued slightly cheaper when compared to this.
The Price/Forward Earnings ratio is 14.82, which indicates a correct valuation of ARTNA.
Based on the Price/Forward Earnings ratio, ARTNA is valued cheaply inside the industry as 92.86% of the companies are valued more expensively.
The average S&P500 Price/Forward Earnings ratio is at 22.17. ARTNA is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 16.22
Fwd PE 14.82
ARTNA Price Earnings VS Forward Price EarningsARTNA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

92.86% of the companies in the same industry are more expensive than ARTNA, based on the Enterprise Value to EBITDA ratio.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 11.01
ARTNA Per share dataARTNA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15 20

4.3 Compensation for Growth

The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.31
PEG (5Y)3.72
EPS Next 2Y7.22%
EPS Next 3YN/A

8

5. Dividend

5.1 Amount

ARTNA has a Yearly Dividend Yield of 3.62%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 3.40, ARTNA pays a better dividend. On top of this ARTNA pays more dividend than 92.86% of the companies listed in the same industry.
ARTNA's Dividend Yield is rather good when compared to the S&P500 average which is at 2.38.
Industry RankSector Rank
Dividend Yield 3.62%

5.2 History

The dividend of ARTNA has a limited annual growth rate of 3.81%.
ARTNA has paid a dividend for at least 10 years, which is a reliable track record.
ARTNA has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)3.81%
Div Incr Years30
Div Non Decr Years30
ARTNA Yearly Dividends per shareARTNA Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8 1

5.3 Sustainability

57.39% of the earnings are spent on dividend by ARTNA. This is a bit on the high side, but may be sustainable.
ARTNA's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP57.39%
EPS Next 2Y7.22%
EPS Next 3YN/A
ARTNA Yearly Income VS Free CF VS DividendARTNA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10M -10M 20M -20M -30M
ARTNA Dividend Payout.ARTNA Dividend Payout, showing the Payout Ratio.ARTNA Dividend Payout.PayoutRetained Earnings

ARTESIAN RESOURCES CORP-CL A

NASDAQ:ARTNA (6/4/2025, 8:05:51 PM)

After market: 33.73 0 (0%)

33.73

-0.6 (-1.73%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryWater Utilities
Earnings (Last)05-05 2025-05-05/amc
Earnings (Next)08-04 2025-08-04/amc
Inst Owners61.45%
Inst Owner Change-4.31%
Ins Owners2.41%
Ins Owner Change1.6%
Market Cap347.76M
Analysts86.67
Price Target46.92 (39.1%)
Short Float %0.63%
Short Ratio1.37
Dividend
Industry RankSector Rank
Dividend Yield 3.62%
Yearly Dividend1.18
Dividend Growth(5Y)3.81%
DP57.39%
Div Incr Years30
Div Non Decr Years30
Ex-Date05-16 2025-05-16 (0.3074)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)29.64%
Min EPS beat(2)12.26%
Max EPS beat(2)47.02%
EPS beat(4)3
Avg EPS beat(4)14.45%
Min EPS beat(4)-6.51%
Max EPS beat(4)47.02%
EPS beat(8)5
Avg EPS beat(8)9.78%
EPS beat(12)7
Avg EPS beat(12)4.33%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)2
Avg Revenue beat(2)2.4%
Min Revenue beat(2)0.53%
Max Revenue beat(2)4.27%
Revenue beat(4)2
Avg Revenue beat(4)0.24%
Min Revenue beat(4)-2.44%
Max Revenue beat(4)4.27%
Revenue beat(8)2
Avg Revenue beat(8)-1.83%
Revenue beat(12)4
Avg Revenue beat(12)-0.73%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)1.82%
EPS NQ rev (3m)1.82%
EPS NY rev (1m)8%
EPS NY rev (3m)8%
Revenue NQ rev (1m)3.57%
Revenue NQ rev (3m)3.57%
Revenue NY rev (1m)0.89%
Revenue NY rev (3m)1.8%
Valuation
Industry RankSector Rank
PE 16.22
Fwd PE 14.82
P/S 3.18
P/FCF N/A
P/OCF 9.88
P/B 1.44
P/tB 1.45
EV/EBITDA 11.01
EPS(TTM)2.08
EY6.17%
EPS(NY)2.28
Fwd EY6.75%
FCF(TTM)-1.19
FCFYN/A
OCF(TTM)3.41
OCFY10.12%
SpS10.6
BVpS23.44
TBVpS23.23
PEG (NY)1.31
PEG (5Y)3.72
Profitability
Industry RankSector Rank
ROA 2.65%
ROE 8.86%
ROCE 4.4%
ROIC 3.21%
ROICexc 3.23%
ROICexgc 3.24%
OM 31.53%
PM (TTM) 19.6%
GM N/A
FCFM N/A
ROA(3y)2.41%
ROA(5y)2.55%
ROE(3y)8.45%
ROE(5y)8.95%
ROIC(3y)3.04%
ROIC(5y)3.21%
ROICexc(3y)3.04%
ROICexc(5y)3.21%
ROICexgc(3y)3.05%
ROICexgc(5y)3.22%
ROCE(3y)4.2%
ROCE(5y)4.51%
ROICexcg growth 3Y-2.16%
ROICexcg growth 5Y-1.28%
ROICexc growth 3Y-2.24%
ROICexc growth 5Y-1.33%
OM growth 3Y0.16%
OM growth 5Y0.63%
PM growth 3Y0.66%
PM growth 5Y1.13%
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.14
Health
Industry RankSector Rank
Debt/Equity 0.73
Debt/FCF N/A
Debt/EBITDA 3.67
Cap/Depr 350.7%
Cap/Sales 43.39%
Interest Coverage 3.86
Cash Conversion 73.33%
Profit Quality N/A
Current Ratio 0.98
Quick Ratio 0.77
Altman-Z 0.8
F-Score7
WACC8.16%
ROIC/WACC0.39
Cap/Depr(3y)395.84%
Cap/Depr(5y)367.69%
Cap/Sales(3y)51.49%
Cap/Sales(5y)47.66%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)22.35%
EPS 3Y3.42%
EPS 5Y4.36%
EPS Q2Q%23.26%
EPS Next Y12.36%
EPS Next 2Y7.22%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)8.31%
Revenue growth 3Y5.91%
Revenue growth 5Y5.25%
Sales Q2Q%5.47%
Revenue Next Year6.6%
Revenue Next 2Y5.06%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y15.58%
EBIT growth 3Y6.09%
EBIT growth 5Y5.91%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y62.4%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y53.25%
OCF growth 3Y5.55%
OCF growth 5Y14.31%