Artesian Resources Corp

Utilities
Water Supply
www.artesianwater.com

Earnings Score
Moat Score
Safety Score
Final Score

Market Cap $346.60M
PE 17
Debt $179.22M
Cash $10.70M
EV $515.12M
FCF -$5.66M

Earnings

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Sales & Net Margins

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Earnings	$20.03M
EBIT	$26.02M
ROE	8%
ROA	3%
FCF	-$5.66M
Equity	$238.31M
Growth Stability	97%
PE	17.31
PEG	6.12
PB	1.45
P/FCF	-61.24
P/S	3.28
Price/Cash	0.03
Debt/Equity	0.75
Debt/FCF	-31.66
Net Margins	20%
Op. Margins	25%
Earnings CAGR	5%
Sales Growth YoY	10%
Sales Growth QoQ	6%
Sales CAGR	4%
FCF CAGR	-0%
Equity CAGR	6%
Earnings Stability	0.85
Earnings Growth YoY	34%
Earnings Growth QoQ	28%

Earnings CAGR 5Y	3%
Sales CAGR 5Y	5%
Equity CAGR 5Y	10%
Earnings CAGR 3Y	5%
Sales CAGR 3Y	5%
Equity CAGR 3Y	14%
Market Cap	$346.60M
Revenue	$105.65M
Dividend Yield	3%
Payout Ratio	60%
Assets	$796.02M
Total Debt	$179.22M
Cash	$10.70M
Shares Outstanding	10.28M
EV	515.12M
Earnings Score	87%
Moat Score	71%
Safety Score	69%
Final Score	76%
Working Capital	6.3M
Current Ratio	1.22
Shares Growth 3y	3%
Equity Growth QoQ	2%
Equity Growth YoY	4%

Assets & ROA

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Stockholders Equity & ROE

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Artesian Resources Corp operates as the holding company of eight wholly-owned subsidiaries offering water, wastewater, and other services on the Delmarva Peninsula. It distributes and sells water, including water for public and private fire protection, to residential, commercial, industrial, municipal, and utility customers in the states of Delaware, Maryland, and Pennsylvania. The company is focusing on a wide spectrum of activities, which include identifying new and dependable sources of water supply; developing wells, treatment plants and delivery systems to get water to customers.

SEC Filings

Direct access to Artesian Resources Corp (ARTNA) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Artesian Resources Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Artesian Resources Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 5%

Stability 85%

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Artesian Resources Corp Discounted Cash Flow

Fully customizable DCF calculator online for Artesian Resources Corp.

Years

Calculation mode

= -$56M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$5.7M	-$5.7M	-$5.6M	-$5.6M	-$5.6M	-$5.6M	-$5.6M	-$5.6M	-$5.6M	-$5.6M	-$5.6M	-$56M
DCF		-$5.1M	-$4.7M	-$4.2M	-$3.8M	-$3.5M	-$3.2M	-$2.9M	-$2.6M	-$2.4M	-$2.2M	-$22M
Value	-$56M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	13%	15%	16%	17%	18%	18%	19%	19%	18%	17%	20%
ROA	-	6%	6%	5%	5%	5%	5%	4%	3%	3%	3%
ROE	-	9%	9%	10%	9%	9%	10%	9%	10%	7%	8%

Good Net Margins (20.41%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	13.77	68.69	-20.37	-5.99	-6.77	-10.48	-15.41	-7.42	-6.03	-31.66
Debt over Equity	0.86	0.8	0.76	0.74	0.78	0.92	0.86	0.82	0.96	0.79	0.75
Growth Stability	-	-	-	100%	100%	100%	100%	100%	100%	97%	97%

Good Debt/FCF ratio (-31.66)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.75)

The company is not overleveraged and has a good balance between equity and debt.

Good Graham’s Stability (97%)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	6%	3%	4%	-2%	4%	5%	3%	9%	-0%	5%
Earnings YoY growth	-	19%	15%	8%	2%	5%	13%	0%	7%	-7%	3%
Equity YoY growth	-	5%	5%	5%	5%	5%	6%	5%	6%	23%	10%
FCF YoY growth	-	-243%	-80%	-448%	275%	10%	-36%	-32%	155%	25%	-