ARTNA

Artesian Resources Corporation (ARTNA) Business Model Analysis (2026)

Invetso Score: 5.8/10 — Balanced · Last Updated: 2026-08-01

Overall Score

Business Model

Regulated water utility model supports stable, recurring demand and predictable cash generation.

Revenue quality is solid with gross margin at 37.3% and operating margin at 32.0%, reflecting a utility-like pricing structure.

Balance sheet leverage remains very low with debt-to-equity at 0.01 and net debt to EBITDA slightly negative.

Capital intensity is high, with capex at 31.0% of revenue and free cash flow yield only 1.1%, limiting near-term cash flexibility.

Returns are modest, with ROIC at 3.2% and ROE at 9.4%, indicating only average efficiency on invested capital.

Sources

  • Company filings (10-K, 10-Q, investor presentations)
  • Financial and market data providers
  • Public news and industry information

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