Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $79.1M | $82.2M | $80.4M | $83.6M | $88.1M | $90.9M | $98.9M | $98.9M | $108M | $113M |
| Revenue growth | — | 4.0% | -2.2% | 4.0% | 5.4% | 3.1% | 8.8% | -0.0% | 9.2% | 4.6% |
| Operating income | $18.8M | $19.6M | $19.0M | $19.9M | $22.3M | $22.3M | $23.9M | $22.4M | $26.2M | $27.8M |
| Operating margin | 23.8% | 23.8% | 23.6% | 23.8% | 25.3% | 24.5% | 24.2% | 22.7% | 24.2% | 24.6% |
| Net income | $13.0M | $14.0M | $14.3M | $14.9M | $16.8M | $16.8M | $18.0M | $16.7M | $20.4M | $22.8M |
| Net margin | 16.4% | 17.0% | 17.8% | 17.9% | 19.1% | 18.5% | 18.2% | 16.9% | 18.9% | 20.2% |
| EPS (diluted) | $1.41 | $1.51 | $1.54 | $1.60 | $1.79 | $1.79 | $1.90 | $1.67 | $1.98 | $2.21 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $29.8M | $35.8M | $29.1M | $18.9M | $20.4M | $31.3M | $24.3M | $31.9M | $36.8M | $40.3M |
| Capital expenditures | $28.3M | $41.1M | $49.1M | $40.7M | $34.3M | $40.8M | $48.5M | $62.2M | $45.9M | $58.8M |
| Free cash flow | $1.53M | -$5.32M | -$19.9M | -$21.8M | -$13.9M | -$9.50M | -$24.2M | -$30.3M | -$9.12M | -$18.5M |
| Dividends paid | $8.18M | $8.50M | $8.82M | $9.12M | $9.38M | $9.83M | $10.3M | $11.2M | $12.2M | $12.7M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $226K | $952K | $293K | $596K | $28.0K | $92.0K | $1.31M | $2.50M | $1.15M | $52.0K |
| Total assets | $451M | $495M | $530M | $560M | $593M | $625M | $720M | $767M | $799M | $851M |
| Long-term debt | $102M | $106M | $116M | $144M | $142M | $143M | $176M | $178M | $177M | $174M |
| Shareholders' equity | $139M | $147M | $153M | $160M | $169M | $178M | $188M | $230M | $239M | $250M |
| Retained earnings | $32.4M | $37.9M | $43.4M | $49.2M | $56.6M | $63.6M | $71.3M | $76.7M | $85.0M | $95.1M |
| Shares (wtd avg diluted) | 9.16M | 9.24M | 9.29M | 9.33M | 9.37M | 9.43M | 9.48M | 10.0M | 10.3M | 10.3M |
Every figure is extracted from ARTESIAN RESOURCES CORP’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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