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

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

31.175  -0.4 (-1.28%)

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. ARTNA has a medium profitability rating, but doesn't score so well on its financial health evaluation. ARTNA is not valued too expensively and it also shows a decent growth rate. Finally ARTNA also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year ARTNA was profitable.
ARTNA had a positive operating cash flow in the past year.
ARTNA had positive earnings in each of the past 5 years.
In the past 5 years ARTNA always reported a positive cash flow from operatings.
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 0 20M -20M

1.2 Ratios

The Return On Assets of ARTNA (2.52%) is worse than 64.29% of its industry peers.
The Return On Equity of ARTNA (8.40%) is worse than 71.43% of its industry peers.
The Return On Invested Capital of ARTNA (3.18%) is worse than 71.43% of its industry peers.
ARTNA had an Average Return On Invested Capital over the past 3 years of 3.15%. This is below the industry average of 5.70%.
The last Return On Invested Capital (3.18%) for ARTNA is above the 3 year average (3.15%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 2.52%
ROE 8.4%
ROIC 3.18%
ROA(3y)2.46%
ROA(5y)2.57%
ROE(3y)8.76%
ROE(5y)9.11%
ROIC(3y)3.15%
ROIC(5y)3.29%
ARTNA Yearly ROA, ROE, ROICARTNA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2 4 6 8

1.3 Margins

ARTNA has a worse Profit Margin (18.96%) than 64.29% of its industry peers.
In the last couple of years the Profit Margin of ARTNA has remained more or less at the same level.
Looking at the Operating Margin, with a value of 31.42%, ARTNA is in the better half of the industry, outperforming 64.29% of the companies in the same industry.
In the last couple of years the Operating Margin of ARTNA has remained more or less at the same level.
Industry RankSector Rank
OM 31.42%
PM (TTM) 18.96%
GM N/A
OM growth 3Y-2.83%
OM growth 5Y-0.45%
PM growth 3Y-3.99%
PM growth 5Y-1%
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 10 20 30

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3

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), ARTNA is destroying value.
Compared to 1 year ago, ARTNA has more shares outstanding
ARTNA has more shares outstanding than it did 5 years ago.
ARTNA has a better debt/assets ratio than last year.
ARTNA Yearly Shares OutstandingARTNA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 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 200M 400M 600M

2.2 Solvency

Based on the Altman-Z score of 0.78, we must say that ARTNA is in the distress zone and has some risk of bankruptcy.
ARTNA's Altman-Z score of 0.78 is on the low side compared to the rest of the industry. ARTNA is outperformed by 64.29% of its industry peers.
A Debt/Equity ratio of 0.76 indicates that ARTNA is somewhat dependend on debt financing.
ARTNA has a better Debt to Equity ratio (0.76) than 78.57% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.76
Debt/FCF N/A
Altman-Z 0.78
ROIC/WACC0.44
WACC7.18%
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 0 50M 100M 150M 200M

2.3 Liquidity

A Current Ratio of 1.22 indicates that ARTNA should not have too much problems paying its short term obligations.
Looking at the Current ratio, with a value of 1.22, ARTNA is in the better half of the industry, outperforming 64.29% of the companies in the same industry.
ARTNA has a Quick Ratio of 1.07. This is a normal value and indicates that ARTNA is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 1.07, ARTNA is in the better half of the industry, outperforming 71.43% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.22
Quick Ratio 1.07
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 10M 20M 30M 40M

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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 25.00%, which is quite impressive.
Measured over the past 5 years, ARTNA shows a small growth in Earnings Per Share. The EPS has been growing by 1.72% on average per year.
The Revenue has been growing slightly by 6.24% in the past year.
Measured over the past years, ARTNA shows a small growth in Revenue. The Revenue has been growing by 4.22% on average per year.
EPS 1Y (TTM)25%
EPS 3Y-2.66%
EPS 5Y1.72%
EPS Q2Q%34.69%
Revenue 1Y (TTM)6.24%
Revenue growth 3Y3.9%
Revenue growth 5Y4.22%
Sales Q2Q%9.68%

3.2 Future

Based on estimates for the next years, ARTNA will show a quite strong growth in Earnings Per Share. The EPS will grow by 9.05% on average per year.
The Revenue is expected to grow by 4.77% on average over the next years.
EPS Next Y19.13%
EPS Next 2Y11.4%
EPS Next 3Y9.05%
EPS Next 5YN/A
Revenue Next Year6%
Revenue Next 2Y5.36%
Revenue Next 3Y4.77%
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 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5 2

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5

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 15.99, which indicates a correct valuation of ARTNA.
ARTNA's Price/Earnings ratio is rather cheap when compared to the industry. ARTNA is cheaper than 85.71% of the companies in the same industry.
ARTNA is valuated rather cheaply when we compare the Price/Earnings ratio to 28.28, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 15.13, the valuation of ARTNA can be described as correct.
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 91.29. ARTNA is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 15.99
Fwd PE 15.13
ARTNA Price Earnings VS Forward Price EarningsARTNA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, ARTNA is valued cheaper than 85.71% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 10.55
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

ARTNA's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.84
PEG (5Y)9.29
EPS Next 2Y11.4%
EPS Next 3Y9.05%

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8

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 4.02%, ARTNA is a good candidate for dividend investing.
ARTNA's Dividend Yield is rather good when compared to the industry average which is at 3.57. ARTNA pays more dividend than 92.86% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.27, ARTNA pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.02%

5.2 History

The dividend of ARTNA has a limited annual growth rate of 3.57%.
ARTNA has paid a dividend for at least 10 years, which is a reliable track record.
ARTNA has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)3.57%
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 0.2 0.4 0.6 0.8 1

5.3 Sustainability

ARTNA pays out 60.10% of its income as dividend. This is not a sustainable payout ratio.
ARTNA's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP60.1%
EPS Next 2Y11.4%
EPS Next 3Y9.05%
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 0 10M -10M -20M -30M
ARTNA Dividend Payout.ARTNA Dividend Payout, showing the Payout Ratio.ARTNA Dividend Payout.PayoutRetained Earnings

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ARTESIAN RESOURCES CORP-CL A

NASDAQ:ARTNA (1/29/2025, 8:04:34 PM)

31.175

-0.4 (-1.28%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryWater Utilities
Earnings (Last)11-04 2024-11-04/amc
Earnings (Next)N/A N/A
Inst Owners64.04%
Inst Owner Change-0.29%
Ins Owners4.26%
Ins Owner Change0%
Market Cap321.10M
Analysts86.67
Price Target53.04 (70.14%)
Short Float %0.95%
Short Ratio2.33
Dividend
Industry RankSector Rank
Dividend Yield 4.02%
Yearly Dividend1.14
Dividend Growth(5Y)3.57%
DP60.1%
Div Incr Years30
Div Non Decr Years30
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-0.73%
Min EPS beat(2)-6.51%
Max EPS beat(2)5.05%
EPS beat(4)2
Avg EPS beat(4)1.1%
Min EPS beat(4)-6.51%
Max EPS beat(4)6.48%
EPS beat(8)3
Avg EPS beat(8)-2.37%
EPS beat(12)5
Avg EPS beat(12)-2.12%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-1.93%
Min Revenue beat(2)-2.44%
Max Revenue beat(2)-1.42%
Revenue beat(4)0
Avg Revenue beat(4)-3.23%
Min Revenue beat(4)-8.35%
Max Revenue beat(4)-0.71%
Revenue beat(8)1
Avg Revenue beat(8)-2.3%
Revenue beat(12)3
Avg Revenue beat(12)-0.95%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-13.51%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-3.85%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 15.99
Fwd PE 15.13
P/S 3.04
P/FCF N/A
P/OCF 8.32
P/B 1.35
P/tB 1.36
EV/EBITDA 10.55
EPS(TTM)1.95
EY6.26%
EPS(NY)2.06
Fwd EY6.61%
FCF(TTM)-0.55
FCFYN/A
OCF(TTM)3.75
OCFY12.02%
SpS10.26
BVpS23.14
TBVpS22.92
PEG (NY)0.84
PEG (5Y)9.29
Profitability
Industry RankSector Rank
ROA 2.52%
ROE 8.4%
ROCE 4.32%
ROIC 3.18%
ROICexc 3.22%
ROICexgc 3.23%
OM 31.42%
PM (TTM) 18.96%
GM N/A
FCFM N/A
ROA(3y)2.46%
ROA(5y)2.57%
ROE(3y)8.76%
ROE(5y)9.11%
ROIC(3y)3.15%
ROIC(5y)3.29%
ROICexc(3y)3.16%
ROICexc(5y)3.3%
ROICexgc(3y)3.16%
ROICexgc(5y)3.3%
ROCE(3y)4.38%
ROCE(5y)4.58%
ROICexcg growth 3Y-7.11%
ROICexcg growth 5Y-3.77%
ROICexc growth 3Y-7.19%
ROICexc growth 5Y-3.82%
OM growth 3Y-2.83%
OM growth 5Y-0.45%
PM growth 3Y-3.99%
PM growth 5Y-1%
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.13
Health
Industry RankSector Rank
Debt/Equity 0.76
Debt/FCF N/A
Debt/EBITDA 3.86
Cap/Depr 324.75%
Cap/Sales 41.9%
Interest Coverage 3.87
Cash Conversion 82.46%
Profit Quality N/A
Current Ratio 1.22
Quick Ratio 1.07
Altman-Z 0.78
F-Score7
WACC7.18%
ROIC/WACC0.44
Cap/Depr(3y)397.88%
Cap/Depr(5y)375.61%
Cap/Sales(3y)52.28%
Cap/Sales(5y)48.88%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)25%
EPS 3Y-2.66%
EPS 5Y1.72%
EPS Q2Q%34.69%
EPS Next Y19.13%
EPS Next 2Y11.4%
EPS Next 3Y9.05%
EPS Next 5YN/A
Revenue 1Y (TTM)6.24%
Revenue growth 3Y3.9%
Revenue growth 5Y4.22%
Sales Q2Q%9.68%
Revenue Next Year6%
Revenue Next 2Y5.36%
Revenue Next 3Y4.77%
Revenue Next 5YN/A
EBIT growth 1Y21.95%
EBIT growth 3Y0.96%
EBIT growth 5Y3.75%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y45.7%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y5.27%
OCF growth 3Y16.09%
OCF growth 5Y1.8%