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ARTNA on Nasdaq

ARTESIAN RESOURCES CORP

ARTESIAN RESOURCES CORP is an American water supply company, incorporated in Delaware.1 It is headquartered in Newark, Delaware.1 Its shares trade on Nasdaq under the symbol ARTNA.1

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Last updated Oct 21, 2026.

Overview

$112.9MRevenue, fiscal 20252
$22.8MNet income, fiscal 20252

Compare with Consolidated Water Co. Ltd., The York Water Company or Middlesex Water Company, or pick any stock.

  • TickerARTNA on Nasdaq1
  • IndustryWater Supply1
  • HeadquartersNewark, Delaware1
  • Incorporated inDE3
  • Business address664 Churchmans Rd, Newark, De 197023
  • Filer categoryNon-accelerated filer3

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Artesian Resources is the holding company of five regulated public utilities: Artesian Water Company, Inc., or Artesian Water, Artesian Water Pennsylvania, Inc., or Artesian Water Pennsylvania, Artesian Water Maryland, Inc., or Artesian Water Maryland, Artesian Wastewater Maryland, Inc., or Artesian Wastewater Maryland, and Artesian Wastewater Management, Inc., or Artesian Wastewater, along with its wholly-owned subsidiary Tidewater Environmental Services, Inc. dba Artesian Wastewater, or TESI; and two non-utility subsidiaries: Artesian Utility Development, Inc., or Artesian Utility, and Artesian Development Corporation, or Artesian Development. The terms “we,” “our,” “Artesian,” and the “Company” as used herein refer to Artesian Resources and its subsidiaries. The business activity conducted by each of our subsidiaries is discussed below under separate headings.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

24.6%Operating margin2
20.2%Net margin2
4.6%Revenue growth, 20252
9.1%Return on equity2
0.70×Debt to equity2
-$18.5MFree cash flow2

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Water Sales brought in 80% of the revenue ARTESIAN RESOURCES CORP broke down this way in fiscal 2025.

  1. Water Sales$90.9M280%up 3% from 2024
  2. Other Utility Operating Revenue$14.6M213%up 11% from 2024
  3. Non Utility Operating Revenue$7.4M27%up 10% from 2024
Products and services by year
Products and services202320242025
Water Sales$80.0M$88.1M$90.9M
Other Utility Operating Revenue$12.2M$13.1M$14.6M
Non Utility Operating Revenue$6.6M$6.7M$7.4M

Business segments

Regulated Utility brought in 48% of the revenue ARTESIAN RESOURCES CORP broke down this way in fiscal 2025.

  1. Regulated Utility$105.5M248%up 4% from 2024
  2. Reportable Segment, Aggregation before Other Operating$105.5M248%up 4% from 2024
  3. Other Operating$7.7M24%up 10% from 2024
Business segments by year
Business segments202320242025
Regulated Utility$92.2M$101.2M$105.5M
Reportable Segment, Aggregation before Other Operating$92.2M$101.2M$105.5M
Other Operating$6.9M$7.0M$7.7M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs65¢$73.6M
  • Interest8¢$8.7M
  • Income tax7¢$7.8M
  • Profit20¢$22.8M

Out of $112.9M in revenue.2

Where each dollar of operating cash went, fiscal 2025

  • Capital spending82¢$58.8M
  • Dividends paid18¢$12.7M

Out of $40.3M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.2

Financial statements

Revenue6789102$112.9M in 2025+40% since 2018
0$50.0M$100.0M$150.0M2018: $80.4M$80.4M20182019: $83.6M$83.6M2019+4%2020: $88.1M$88.1M2020+5%2021: $90.9M$90.9M2021+3%2022: $98.9M$98.9M2022+9%2023: $98.9M$98.9M2023−0%2024: $108.0M$108.0M2024+9%2025: $112.9M$112.9M2025+5%
Operating income6789102$27.8M in 2025+47% since 2018
0$10.0M$20.0M$30.0M2018: $19.0M$19.0M20182019: $19.9M$19.9M2019+5%2020: $22.3M$22.3M2020+12%2021: $22.3M$22.3M2021−0%2022: $23.9M$23.9M2022+7%2023: $22.4M$22.4M2023−6%2024: $26.2M$26.2M2024+17%2025: $27.8M$27.8M2025+6%
Net income6789102$22.8M in 2025+60% since 2018
0$10.0M$20.0M$30.0M2018: $14.3M$14.3M20182019: $14.9M$14.9M2019+5%2020: $16.8M$16.8M2020+13%2021: $16.8M$16.8M2021+0%2022: $18.0M$18.0M2022+7%2023: $16.7M$16.7M2023−7%2024: $20.4M$20.4M2024+22%2025: $22.8M$22.8M2025+12%

Every line of the income statement as filed: the last 3 fiscal years, latest first.2

Period ending2025-12-312024-12-312023-12-31
Total Operating Revenues$112.9M$108.0M$98.9M
Utility operating expenses$52.4M$49.8M$46.2M
Non-utility operating expenses$4.7M$4.7M$4.4M
Depreciation and amortization$13.8M$13.6M$13.3M
Current$6.6M$6.7M$3.0M
Deferred$1.2M$578.0K$3.4M
Property and other taxes$6.4M$6.3M$6.1M
Total Operating Expenses$85.2M$81.8M$76.4M
Operating income$27.8M$26.2M$22.4M
Allowance for funds used during construction (AFUDC)$2.4M$1.6M$2.0M
Miscellaneous$1.3M$1.4M$1.4M
Total other income, net$3.7M$3.0M$3.4M
Income before interest charges$31.5M$29.2M$25.9M
Interest charges$8.7M$8.8M$9.2M
Net income applicable to common stock$22.8M$20.4M$16.7M
Basic (in Dollars per share)$2.21$1.98$1.67
Diluted (in Dollars per share)$2.21$1.98$1.67
Basic (in Shares)10.3M shares10.3M shares10.0M shares
Diluted (in Shares)10.3M shares10.3M shares10.0M shares
Cash dividends per share of common stock (in Dollars per share)$1.23$1.18$1.14

Compare ARTESIAN RESOURCES CORP with another company

Corporate structure

ARTESIAN RESOURCES CORP sits at the top of its group. 9 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of ARTESIAN RESOURCES CORP

  • ARTESIAN RESOURCES CORP Newark, Delaware
    • Artesian Development Corporation Subsidiary · Delaware, United States
    • Artesian Utility Development, Inc. Subsidiary · Delaware, United States
    • Artesian Wastewater Management, Inc. Subsidiary · Delaware, United States
    • Artesian Wastewater Maryland, Inc. Subsidiary · Delaware, United States
    • Artesian Water Company, Inc. Subsidiary · Delaware, United States
    • Artesian Water Maryland, Inc. Subsidiary · Delaware, United States
    • Artesian Water Pennsylvania, Inc. Subsidiary · Pennsylvania, United States
    • Tidewater Environmental Services, Inc. dba Artesian Wastewater Subsidiary · Delaware, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What ARTESIAN RESOURCES CORP reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Accumulated depreciation$1.1M2 Dec 31, 2025$1.1M2 Dec 31, 2024+2.7%
Property and equipment, net$3.5M2 Dec 31, 2025$3.6M2 Dec 31, 2024−1.7%
Operating-lease assets (leased space)$414.0K2 Dec 31, 2025$414.0K2 Dec 31, 20240%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$52.0K2 Dec 31, 2025$1.1M2 Dec 31, 2024−95.5%
Debt securities held to maturity$6.9M2 Dec 31, 2025$6.4M2 Dec 31, 2024+7.2%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$1.9M2 Dec 31, 2025$1.9M2 Dec 31, 20240%

Properties, in its own words

PROPERTIES

Our corporate headquarters are located at 664 Churchmans Road, Newark, Delaware and are owned by Artesian Water.

The rest of Item 2

The Company owns approximately six acres of land in New Castle County, Delaware zoned for office development and two nine-acre parcels of land in Sussex County, Delaware for water and wastewater treatment facilities and an elevated water storage. The Company also owns an office facility located in Sussex County, Delaware. The facility consists of approximately 10,000 square feet of office space along with approximately 10,000 square feet of warehouse space.

The Company owns land, rights-of-way, easements, transmission and distribution mains, collection mains, pump facilities, treatment plants, lift stations, treatment/disposal facilities, storage tanks, meters, vehicles and related equipment and facilities. The following table indicates our utility plant as of December 31, 2025.

Utility plant comprises:

Estimated Useful Life (In Years) Effective

June 12, 2024 · December 31,2025

Utility plant at original cost

Utility plant in service-Water

Intangible plant · --- · 140

Source of supply plant · 45-85 · 33,507

Pumping and water treatment plant · 15-64 · 137,543

Transmission and distribution plant

Mains · 73-81 · 416,690

Services · 39-58 · 67,999

Storage tanks · 70-76 · 42,995

Meters · 16-26 · 28,921

Hydrants · 60-68 · 21,738

General plant · 5-81 · 61,191

Utility plant in service-Wastewater

Intangible plant · --- · 116

Treatment and disposal plant · 20-81 · 76,509

Collection mains and lift stations · 70-81 · 62,909

General plant · 5-31 · 3,041

Property held for future use · --- · 4,805

Construction work in progress · --- · 45,667

1,003,771

Less – accumulated depreciation · 202,077

801,694

Substantially all of Artesian Water's utility plant, except the utility plant in the town of Townsend, Delaware, is pledged as security for our First Mortgage Bonds. As of December 31, 2025, no other water utility plant has been pledged as security for loans. Two parcels of land held by Artesian Wastewater are pledged as security for a loan.

We believe that our properties are generally maintained in good condition and in accordance with current standards of good water and wastewater industry practice. We believe that all our existing facilities adequately meet current necessary production capacities and current levels of utilization.

Item 2 of the 10-K filed Mar 16, 2026.5

Leadership

Who has led ARTESIAN RESOURCES CORP, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Nicholle Renee Taylor2025–now

President

  1. Nicholle Renee Taylor2025–now

Chief financial officer

  1. David B. Spacht2006–now
2010201520202025
Board members and other officers (19)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Artesian Development Corporation Delaware4
  • Artesian Resources Corporation Delaware4
  • Artesian Utility Development, Inc. Delaware4
  • Artesian Wastewater Management, Inc. Delaware4
  • Artesian Wastewater Maryland, Inc. Delaware4
  • Artesian Water Company, Inc. Delaware4
  • Artesian Water Maryland, Inc. Delaware4
  • Artesian Water Pennsylvania, Inc. Pennsylvania4
  • Tidewater Environmental Services, Inc. dba Artesian Wastewater Delaware4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Aug 7, 20268-K Results of operations37
  2. May 7, 20268-K Shareholder vote38
  3. May 6, 20268-K Results of operations39
  4. Mar 13, 20268-K Results of operations40
  5. Nov 3, 20258-K Executive or director change; Shareholder vote41
  6. Oct 31, 20258-K Results of operations42
  7. Aug 5, 20258-K Results of operations43
  8. Jul 1, 20258-K Executive or director change44
  9. Jun 5, 20258-K Listing notice or transfer45
  10. May 8, 20258-K Executive or director change; Shareholder vote46
  11. May 7, 2025New chief executive Nicholle Renee Taylor becomes CEO16
  12. May 6, 20258-K Results of operations47
  13. Apr 7, 20258-K Regulation FD disclosure; Other events48

Calendar

Coming up

  1. Oct 29, 2026Reports results for the quarter ending Sep/202649

When it reported results

  1. Aug 7, 2026Reported quarterly or annual results37
  2. May 6, 2026Reported quarterly or annual results39
  3. Mar 13, 2026Reported quarterly or annual results40
  4. Oct 31, 2025Reported quarterly or annual results42
  5. Aug 5, 2025Reported quarterly or annual results43
  6. May 6, 2025Reported quarterly or annual results47
  7. Mar 26, 2025Reported quarterly or annual results50
  8. Nov 5, 2024Reported quarterly or annual results51

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

227 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 37 major events, 129 insider forms, 18 large holders, 22 other. The latest 20:

  1. Sep 28, 20263 PRIMARY DOCUMENT EDGAR
  2. Sep 17, 20264 PRIMARY DOCUMENT EDGAR
  3. Sep 17, 20264 PRIMARY DOCUMENT EDGAR
  4. Sep 17, 20264 PRIMARY DOCUMENT EDGAR
  5. Sep 17, 20264 PRIMARY DOCUMENT EDGAR
  6. Sep 17, 20264 PRIMARY DOCUMENT EDGAR
  7. Sep 17, 20264 PRIMARY DOCUMENT EDGAR
  8. Sep 17, 20264 PRIMARY DOCUMENT EDGAR
  9. Sep 14, 2026144 EDGAR
  10. Sep 11, 20264/A PRIMARY DOCUMENT EDGAR
  11. Sep 4, 20264 PRIMARY DOCUMENT EDGAR
  12. Sep 1, 20264 PRIMARY DOCUMENT EDGAR
  13. Aug 31, 20264 PRIMARY DOCUMENT EDGAR
  14. Aug 27, 20264 PRIMARY DOCUMENT EDGAR
  15. Aug 21, 20264 PRIMARY DOCUMENT EDGAR
  16. Aug 18, 20264 PRIMARY DOCUMENT EDGAR
  17. Aug 14, 2026144 EDGAR
  18. Aug 12, 202610-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) EDGAR
  19. Aug 7, 20268-K CURRENT REPORT FILING EDGAR
  20. Jun 29, 202611-K/A EDGAR

The 227 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

41 open-market trades by officers, directors and large owners since October 2021: 2 buys and 39 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 17, 2026TAYLOR DIAN CDirectorSale2,000$35.29$70.6KForm 4
Sep 16, 2026TAYLOR DIAN CDirectorSale2,000$35.05$70.1KForm 4
Sep 3, 2026TAYLOR DIAN CDirectorSale1,876$36.11$67.7KForm 4
Sep 3, 2026TAYLOR DIAN CDirectorSale2,000$36.11$72.2KForm 4
Sep 2, 2026TAYLOR DIAN CDirectorSale1,124$36.00$40.5KForm 4
Aug 31, 2026TAYLOR DIAN CDirectorSale2,000$35.50$71.0KForm 4
Aug 28, 2026TAYLOR DIAN CDirectorSale2,000$35.50$71.0KForm 4
Aug 25, 2026TAYLOR DIAN CDirectorSale2,000$35.68$71.4KForm 4
Aug 20, 2026TAYLOR DIAN CDirectorSale2,000$35.30$70.6KForm 4
Aug 18, 2026TAYLOR DIAN CDirectorSale2,000$35.00$70.0KForm 4
Aug 17, 2026TAYLOR DIAN CDirectorSale2,000$35.01$70.0KForm 4
Mar 23, 2026TAYLOR DIAN CDirectorSale1,000$31.25$31.2KForm 4
Mar 20, 2026TAYLOR DIAN CDirectorSale2,000$31.00$62.0KForm 4
Mar 19, 2026TAYLOR DIAN CDirectorSale2,000$31.00$62.0KForm 4
Dec 22, 2025TAYLOR DIAN CDirectorSale2,224$31.97$71.1KForm 4
Dec 19, 2025TAYLOR DIAN CDirectorSale2,224$31.73$70.6KForm 4
Aug 28, 2025THAEDER JOHN MSenior Vice PresidentSale1,000$33.37$33.4KForm 4
Aug 22, 2025THAEDER JOHN MSenior Vice PresidentSale1,000$33.49$33.5KForm 4
Aug 21, 2025THAEDER JOHN MSenior Vice PresidentSale1,000$32.92$32.9KForm 4
Dec 20, 2023Taylor Nicholle ReneeCEO and PresidentSale4,750$42.82$203.4KForm 4

All 41 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Vanguard Capital Management LLC399,333$13.6M0.0%+10,874
Renaissance Technologies LLC301,156$10.2M0.0%−19,300
BlackRock, Inc.209,332$7.1M0.0%+38,635
Morgan Stanley207,593$7.1M0.0%+11,651
Adage Capital Partners Gp, L.l.c.200,000$6.8M0.0%No change
Dimensional Fund Advisors LP192,235$6.5M0.0%+2,318
Two Sigma Investments, LP183,038$6.2M0.0%+15,573
Kestra Advisory Services, LLC165,267$5.6M0.0%−1,176
Prospera Financial Services Inc156,992$5.3M0.1%−895
Roffman Miller Associates Inc /pa/147,528$5.0M0.3%+1,474
Geode Capital Management, LLC123,700$4.2M0.0%+21,833
Costello Asset Management, INC115,979$3.9M1.2%−15,504
Jane Street Group, LLC108,478$3.7M0.0%−41,330
Hotchkis & Wiley Capital Management LLC97,100$3.3M0.0%+1,700
Deprince Race & Zollo Inc85,576$2.9M0.0%+11,870
Arrowstreet Capital, Limited Partnership83,827$2.8M0.0%+10,171
Bank of New York Mellon Corp78,410$2.7M0.0%+4,244
Goldman Sachs Group Inc74,063$2.5M0.0%−23,744
Fca Corp /tx73,699$2.5M0.6%+3,977
First Manhattan Co. Llc.72,405$2.5M0.0%−3,137
State Street Corp70,176$2.4M0.0%+1,167
Russell Investments Group, Ltd.69,038$2.3M0.0%+12,188
North Star Investment Management Corp.67,015$2.3M0.1%+8,015
Vanguard Portfolio Management LLC61,482$2.1M0.0%−3,612
Assenagon Asset Management S.A.58,730$2.0M0.0%+13,420

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How ARTESIAN RESOURCES CORP is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARARTESIAN RESOURCES CORP1
  • CIK0000863110
  • Employer ID (EIN)51-00020905
  • Filer statusAccelerated filer not an emerging growth company; a smaller reporting company; not a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsDecember 311
  • Industry code (SIC)4941 Water Supply1
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
  • Business address664 Churchmans Rd, Newark, DE 197021
  • Phone30245369001
  • Shares outstanding9,436,930 Common Class A shares; 881,452 Common Class B shares as of Mar 10, 20265
  • AuditorBDO USA, P.C., Philadelphia, Pennsylvania PCAOB ID 243; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceMay 3, 19961
  • Filings1,185 in all: 4 (593), 5 (168), 8-K (149), 10-Q (92), 11-K (34), 10-K (30), SC 13G/A (13), 4/A (12)1
    All 37 form types

    3 (10), UPLOAD (8), 144 (7), SC 13G (7), CORRESP (6), S-8 (6), SCHEDULE 13G/A (6), 10-K/A (4), 424B5 (4), NT 11-K (4), 424B2 (3), EFFECT (3), S-2/A (3), S-3 (3), 10-Q/A (2), 424B1 (2), NT 10-K (2), S-2 (2), S-3/A (2), 11-K/A (1), 424B4 (1), 5/A (1), 8-K/A (1), CT ORDER (1), DEF 14A (1), NO ACT (1), PRE 14A (1), S-3D (1), S-3DPOS (1)

  • Latest filingsAnnual report (10-K) Mar 16, 2026
    Quarterly report (10-Q) Aug 12, 2026
    Proxy statement (DEF 14A) Apr 1, 2002
    Latest 8-K (8-K) Aug 7, 2026

Securities registered for trading

ClassSymbolExchange
Common StockARTNANasdaq

From the cover page of the 10-K filed Mar 16, 2026 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks ARTESIAN RESOURCES CORP names in Item 1A of its 10-K filed Mar 16, 2026: 9 risks under these headings, as written.5

  • Risks Related to Our Operations
  • Risks Related to Governmental Laws and Regulations
  • Risks Related to Our Financial Statements and Operating Results
  • Risks Related to Our Business Strategy
  • Risks Related to Legal Uncertainty
  • Risk Related to Cybersecurity and Technology
  • Risk Associated with Managing our Business, Including Employees and Our Reputation
  • Risks Related to Our Common Stock
  • Risk Related to Pandemics

Legal proceedings

LEGAL PROCEEDINGS

For a discussion of our legal proceedings, refer to Notes to Consolidated Financial Statements – Note 15 – Legal Proceedings.

The opening of Item 3, Legal Proceedings.5

Sources

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