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Artesian Resources Corporation (ARTNA) Fair Value & Analysis

Utilities · US · Market cap $333M

AR Artesian Resources Corporation logo Artesian Resources Corporation ARTNA · US
Price$34.59
Fair Value$37.12
Upside+7.3%
Quality43/100
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Expensive Growth
Highly profitable · 20.3% net margin
Moderate debt · negative free cash flow
3.79% dividend yield
Ranks above peers (10/14)
Wide moat 65/100
Evidence: High Range $23.09 – $48.26 Share as image

Fair value as of: Jul 14, 2026

From 16 valuation models · updated 28 days ago

Share price +1.8% over the past month.

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range ($23.09 to $48.26) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

$55.37 $28.03 Fair Value $37.12 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

60‑month range $28.03 – $55.37 · fair‑value band $23.09 – $48.26 · the $34.59 price screens below the $37.12 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 14, 2026.

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Analysis

Artesian Resources Corporation (ARTNA) currently trades at $34.59, while our model-based Fair Value estimate is $37.12, implying the stock looks roughly 7.3% fairly valued today. The Quality Score stands at 43/100 (below-average quality), in the Utilities sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Artesian Resources Corporation generated revenue of $115M at a net margin of 20.3%. Revenue grew 7.3% year over year. It earns a return on equity of 9.4%. Net debt stands at $183M. Fundamentals as of Jul 14, 2026

Our scenario range runs from $23.09 (bear case) to $48.26 (bull case); at $34.59, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 15% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at -10% fair-value upside, at 7%, ARTNA screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income $21.51 $23.06 $25.47 76
ROIC Compounder $5.09 $8.30 $10.97 72
Gordon GGM $10.43 $18.79 $25.87 70
All 16 models by family
Earnings-Based
Graham-Dodd $16.43 $43.72 $57.16 54
Lynch FV $8.46 $12.08 $15.71 50
PEG = 1.0 $8.46 $12.08 $15.71 46
EPV $5.09 $8.30 $10.97 59
Dividend Discount
Gordon GGM $10.43 $18.79 $25.87 70
DDM Multi-Stage $10.43 $15.23 $19.67 61
Multiples
P/E Multiple $32.63 $43.50 $54.38 63
P/S Multiple $22.43 $29.90 $37.38 58
P/B Multiple $30.81 $41.09 $51.36 55
EV/EBIT $23.98 $38.12 $52.26 53
EV/EBITDA $20.80 $33.88 $46.97 54
EV/Revenue $2.48 $11.45 $20.42 43
Asset-Based
NCAV (Graham) $13.23 $17.73 $26.47 50
Economic Profit
Residual Income $21.51 $23.06 $25.47 76
ROIC Compounder $5.09 $8.30 $10.97 72
Growth Earnings
Growth-Adj P/E $25.99 $37.12 $48.26 68

Widest divergence: Growth Earnings ($37.12) versus Economic Profit ($8.30). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) $115M
Revenue growth (YoY) +7.3%
Net margin 20.3%
Return on equity 9.4%
Free cash flow −$18.5M FY2025
P/E ratio 14.3
More key figures
Operating margin 30.0%
EPS (TTM) $2.25
Dividend yield 3.8%
EPS growth (YoY) +8.0%
Net debt $183M FY2025

Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 43/100

Of which business quality 40 · Market factors (momentum, volatility) 69

Profitability 33
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 46
Earnings quality: real cash, not paper profit
Fin. Strength 25
Balance sheet, leverage, solvency risk
Investment 41
Disciplined investing over empire-building
Low Volatility 94
Calm price path (market factor)
Momentum 51
Price trend over the last 3–12 months (market factor)
52W Momentum 72
Distance to the 52-week high (market factor)
Net Issuance 66
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

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, …

Full company description

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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Artesian Resources Corporation reported revenue of $113M in FY2025 versus $90.9M in FY2021, a compound +5.6%/yr. Reported net income was $22.8M in FY2025, compounding +7.9%/yr from FY2021.

Growth Quality 36/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
$113M
Latest YoY
+4.6%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+4.5%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+5.1%
Avg. growth/yr (30Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+5.5%
Revenue +5.6%/yr
FY21 $90.9M
FY22 $98.9M
FY23 $98.9M
FY24 $108M
FY25 $113M
Net income +7.9%/yr
FY21 $16.8M
FY22 $18.0M
FY23 $16.7M
FY24 $20.4M
FY25 $22.8M
Character of growth · EPS growth decomposed (2014-2025) +5.1 % p.a.
Revenue per share +2.4 pp

of which total revenue +3.8 pp · buybacks/dilution −1.4 pp

EBIT margin +1.5 pp
Tax rate +2.3 pp
Residual (interest, one-offs) −1.1 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Artesian Resources Corporation Fair Value". https://www.fairvalue-calculator.com/stock/ARTNA

Peer Group

Utilities - Regulated Water · 67 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 43 · Below median
Fair Value upside +7% · Above median
Return on equity (TTM) 9% · Above median
Return on assets 3% · Above median
Net margin (TTM) 20% · Above median
Operating margin (TTM) 30% · Top 25%
Revenue growth 7% · Above median
Dividend yield (TTM) 3.8% · Top 25%
Debt / equity 0.70× · Higher than median

Valuation Multiples vs Utilities - Regulated Water median · lower = cheaper

P/E (TTM) 14.3× · Cheaper than median
P/B 1.33× · Cheaper than median
P/S (TTM) 2.90× · Pricier than median
EV/EBITDA 10.1× · Cheaper than median
PEG 3.54× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 43 · sector 1
FUTURE 37 · sector 28
PAST 38 · sector 29
HEALTH 65 · sector 66
DIVIDEND 76 · sector 48

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Utilities - Regulated Water stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).

Stock Price Fair Value vs Fair Value
American Water Works Company AWK $134.33 $65.80 -51%
SBSP3 SBSP3 R$29.22 R$31.23 +7%
SBS SBS $5.79 $5.21 -10%
Essential Utilities, Inc WTRG $38.59 $21.81 -43%
CSMG3 CSMG3 R$66.10 R$60.17 -9%
Grandblue Environment Co 600323 ¥29.42 ¥33.29 +13%
American States Water Company AWR $85.01 $48.02 -44%
Chengdu Xingrong Environment Co 000598 ¥6.97 ¥10.74 +54%
California Water Service Group CWT $49.73 $33.56 -33%
Chongqing Water Group 601158 ¥4.12 ¥2.77 -33%

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Frequently asked questions

Is Artesian Resources Corporation (ARTNA) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of $37.12 versus a price of $34.59, about +7% (fairly valued).
What is the fair value of ARTNA?
Our model-based fair value for Artesian Resources Corporation is $37.12 (as of Jul 14, 2026), built from audited fundamentals. The current price is $34.59.
What is the quality score of ARTNA?
Artesian Resources Corporation has a Quality Score of 43/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Artesian Resources Corporation (ARTNA)?
Artesian Resources Corporation reported trailing-twelve-month revenue of about $115M (latest available figure, as of Jul 14, 2026).
What is the net profit margin of ARTNA?
The net profit margin of Artesian Resources Corporation is about 20.3%, meaning it keeps roughly 20.3% of revenue as net income. Based on the latest reported figures.
Does Artesian Resources Corporation pay a dividend?
Artesian Resources Corporation currently shows a dividend yield of about 3.79% relative to its recent price (as of Jul 14, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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