Artesian Resources (ARTNA)
NASDAQ:ARTNA
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Artesian Resources
(NASDAQ:ARTNA)
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Rating:65Neutral
Price Target:
$35.00
▲(11.01% Upside)
Action:Reiterated
Date:05/14/26
The score is driven primarily by stable profitability and an improving balance sheet, offset by ongoing negative free cash flow from capital investment needs. Valuation is supportive given the moderate P/E and solid dividend yield, while technical signals are mostly neutral and corporate events are modestly positive but not fundamental-changing.
Positive Factors
Regulated revenue model
Artesian’s revenues are governed by state regulatory proceedings and composed of metered volumetric charges plus fixed service fees. That framework delivers predictable, contract-like cash flows with regular cost recovery and allowed returns, providing durable earnings visibility for multi-year capital planning.
Negative Factors
Persistently negative free cash flow
Free cash flow has been negative across reported periods and only neared break-even in the TTM, reflecting sustained capital intensity. Persistent negative FCF increases dependence on external financing for capex, constrains balance-sheet optionality, and can limit internally funded growth or dividend increases.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulated revenue model
Artesian’s revenues are governed by state regulatory proceedings and composed of metered volumetric charges plus fixed service fees. That framework delivers predictable, contract-like cash flows with regular cost recovery and allowed returns, providing durable earnings visibility for multi-year capital planning.
Read all positive factors
Artesian Resources (ARTNA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$337.19M
Dividend Yield3.87%
Average Volume (3M)26.21K
Price to Earnings (P/E)14.4
Beta (1Y)0.20
Revenue Growth5.06%
EPS Growth8.72%
CountryUS
Employees245
SectorUtilities
Sector Strength65
IndustryRegulated Water
Share Statistics
EPS (TTM)2.27
Shares Outstanding9,442,986
10 Day Avg. Volume23,876
30 Day Avg. Volume26,215
Financial Highlights & Ratios
PEG Ratio1.23
Price to Book (P/B)1.30
Price to Sales (P/S)2.89
P/FCF Ratio-17.62
Enterprise Value/Market Cap1.54
Enterprise Value/Revenue4.52
Enterprise Value/Gross Profit11.20
Enterprise Value/Ebitda10.05
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)2
Revenue Forecast (FY)$117.00M
Artesian Resources Business Overview & Revenue Model
Company Description
Artesian Resources Corporation, through its subsidiaries, provides water, wastewater, and other services in Delaware, Maryland, and Pennsylvania. The company distributes and sells water to residential, commercial, industrial, governmental, municip...
How the Company Makes Money
Artesian Resources primarily makes money by charging customers for regulated utility services—most importantly the sale and delivery of potable water, and in some areas wastewater service. Revenue is largely generated through (1) metered volumetri...
Artesian Resources Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
71
Positive
Cash Flow
44
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 114.83M | 112.94M | 107.95M | 98.86M | 98.90M | 90.86M |
| Gross Profit | 46.30M | 42.01M | 53.41M | 48.23M | 48.27M | 45.50M |
| EBITDA | 51.58M | 49.42M | 50.12M | 42.13M | 42.40M | 39.92M |
| Net Income | 23.32M | 22.82M | 20.39M | 16.70M | 18.00M | 16.83M |
Balance Sheet | ||||||
| Total Assets | 866.94M | 851.23M | 798.62M | 766.83M | 720.30M | 625.31M |
| Cash, Cash Equivalents and Short-Term Investments | 4.25M | 52.00K | 1.15M | 2.50M | 1.31M | 92.00K |
| Total Debt | 186.42M | 182.65M | 179.11M | 181.06M | 198.31M | 172.03M |
| Total Liabilities | 614.14M | 601.31M | 559.43M | 536.43M | 532.37M | 447.30M |
| Stockholders Equity | 252.80M | 249.92M | 239.19M | 230.40M | 187.93M | 178.01M |
Cash Flow | ||||||
| Free Cash Flow | -1.37M | -18.50M | -9.12M | -30.33M | -24.22M | -9.50M |
| Operating Cash Flow | 38.02M | 40.35M | 36.82M | 31.85M | 24.27M | 31.31M |
| Investing Cash Flow | -61.44M | -58.72M | -45.32M | -62.08M | -54.76M | -40.72M |
| Financing Cash Flow | 23.97M | 17.27M | 7.14M | 31.42M | 31.71M | 9.48M |
Artesian Resources Technical Analysis
Positive
31.53
Price Trends
31.73
Positive
32.16
Positive
31.88
Positive
Market Momentum
0.19
Negative
59.62
Neutral
78.77
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ARTNA, the sentiment is Positive. The current price of 31.53 is below the 20-day moving average (MA) of 31.80, below the 50-day MA of 31.73, and below the 200-day MA of 31.88, indicating a bullish trend. The MACD of 0.19 indicates Negative momentum. The RSI at 59.62 is Neutral, neither overbought nor oversold. The STOCH value of 78.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ARTNA.
Artesian Resources Risk Analysis
Artesian Resources disclosed 27 risk factors in its most recent earnings report. Artesian Resources reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Artesian Resources Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $256.47M | 17.77 | 9.75% | ― | 2.45% | -1.04% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
65 Neutral | $337.19M | 14.39 | 9.36% | 3.87% | 5.06% | 8.72% | |
63 Neutral | $971.82M | 22.00 | 9.07% | 2.67% | 1.76% | -0.20% | |
58 Neutral | $482.88M | 20.29 | 8.89% | 2.68% | 4.38% | 7.70% | |
50 Neutral | $212.85M | 104.82 | 2.37% | 3.56% | 5.69% | -68.06% | |
46 Neutral | $368.30M | -12.28 | -129.91% | ― | 31.03% | 15.06% |
* Utilities Sector Average
ARTNA
Artesian Resources
32.52
-0.67
-2.01%
CDZI
Cadiz
4.88
1.94
65.70%
MSEX
Middlesex Water Company
52.53
-3.89
-6.89%
PCYO
Pure Cycle
10.35
-0.27
-2.54%
YORW
The York Water Company
29.90
-1.85
-5.84%
GWRS
Global Water Resources
7.29
-2.52
-25.71%
Artesian Resources Corporate Events
Executive/Board ChangesShareholder Meetings
Artesian Resources Shareholders Reelect Directors, Affirm Governance Stability
Positive
May 7, 2026
On May 6, 2026, Artesian Resources Corporation held its annual shareholder meeting at which shareholders holding Class B Common Stock elected John R. Eisenbrey, Jr. and Dian C. Taylor to the company’s board of directors for new three-year te...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.