Artesian Resources Corporation (ARTNA) Balance Sheet
ARTNA balance sheet, 2025
December 31, 2025 · U.S. dollars$851.2M assets = $601.3M liabilities + $249.9M equity
Both columns are drawn to the same scale: what ARTNA owns equals what it owes plus shareholders’ equity. Hover a block for its value.
ARTNA financial health
Descriptive bands, not a rating. Fiscal 2025.
ARTNA balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $451.0M2016 | $851.2M2025 | +7.3%/yr | |
| Total liabilities | $312.0M2016 | $601.3M2025 | +7.6%/yr | |
| Shareholders’ equity | $139.0M2016 | $249.9M2025 | +6.7%/yr | |
| Cash & short-term investments | $226,0002016 | $52,0002025 | −15.1%/yr | |
| Total debt | $118.9M2016 | $182.6M2025 | +4.9%/yr | |
| Net cash (debt) | −$118.7M2016 | −$182.6M2025 | −$63.9M | |
| Working capital | −$4.7M2016 | −$12.3M2025 | −$7.6M | |
| Book value per share | $15.182016 | $24.242025 | +5.3%/yr | |
| Current ratio | 0.762016 | 0.642025 | −0.12 | |
| Debt / equity | 0.862016 | 0.732025 | −0.12 | |
| Shares outstanding | 9.2M2016 | 10.3M2025 | +1.3%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ARTNA assets
ARTNA liabilities and equity
ARTNA debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
ARTNA balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $52,000 | $1.1M | $2.5M | $1.3M | $92,000 | $28,000 | $596,000 | $293,000 | $952,000 | $226,000 |
| Cash & equivalents | $52,000 | $1.1M | $2.5M | $1.3M | $92,000 | $28,000 | $596,000 | $293,000 | $952,000 | $226,000 |
| Short-term investments | — | — | — | — | — | $473,000 | — | — | $0 | $0 |
| Receivables | $12.2M | $13.8M | $16.6M | $16.7M | $11.7M | $12.0M | $8.1M | $10.4M | $12.7M | $9.3M |
| Inventory | $3.7M | $4.3M | $6.0M | $4.7M | $1.9M | $1.5M | $1.3M | $1.5M | $1.5M | $1.6M |
| Other current assets | $5.5M | $5.3M | $5.6M | $5.1M | $5.0M | $4.1M | $4.2M | $4.0M | $3.8M | $3.5M |
| Total current assets | $21.4M | $24.5M | $30.6M | $27.8M | $18.7M | $17.6M | $14.2M | $16.1M | $19.0M | $14.6M |
| Property, plant & equipment (net) | $801.7M | $751.2M | $718.5M | $672.2M | $594.6M | $563.8M | $535.0M | $502.5M | $464.4M | $429.4M |
| Goodwill & intangible assets | $1.9M | $1.9M | $1.9M | $1.9M | $0 | $623,000 | $288,000 | $295,000 | $606,000 | $620,000 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $26.2M | $21.0M | $15.8M | $18.3M | $12.0M | $11.2M | $11.6M | $10.9M | $10.7M | $6.3M |
| Total assets | $851.2M | $798.6M | $766.8M | $720.3M | $625.3M | $593.2M | $561.1M | $529.8M | $494.6M | $451.0M |
| Liabilities | ||||||||||
| Accounts payable | $14.0M | $11.2M | $9.7M | $10.9M | $10.2M | $6.3M | $8.2M | $8.2M | $8.9M | $5.5M |
| Short-term debt | $8.0M | $2.2M | $2.3M | $22.2M | $28.3M | $28.7M | $9.2M | $17.8M | $11.0M | $8.4M |
| Deferred revenue | $3.5M | $3.3M | $3.0M | $2.5M | $2.3M | $2.1M | $2.0M | $1.0M | $969,000 | $864,000 |
| Total current liabilities | $33.7M | $25.6M | $22.4M | $44.1M | $47.2M | $43.7M | $25.6M | $37.7M | $28.5M | $19.3M |
| Long-term debt | $174.3M | $176.5M | $178.3M | $175.6M | $143.3M | $142.3M | $144.2M | $115.9M | $113.4M | $110.5M |
| Lease obligations | $407,000 | $404,000 | $503,000 | $466,000 | $440,000 | $432,000 | $450,000 | — | — | — |
| Other long-term liabilities | $393.3M | $357.3M | $335.7M | $312.7M | $256.8M | $237.7M | $231.1M | $223.0M | $206.2M | $182.1M |
| Total liabilities | $601.3M | $559.4M | $536.4M | $532.4M | $447.3M | $423.8M | $400.8M | $376.6M | $348.0M | $312.0M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $10.3M | $10.3M | $10.3M | $9.5M | $9.4M | $9.4M | $9.3M | $9.2M | $9.2M | $9.1M |
| Retained earnings (deficit) | $95.1M | $85.0M | $76.7M | $71.3M | $63.6M | $56.6M | $49.2M | $43.4M | $37.9M | $32.4M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | — | — | — | — | — | $0 | $0 | −$126.8M | −$117.6M | −$110.3M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $249.9M | $239.2M | $230.4M | $187.9M | $178.0M | $169.4M | $160.3M | $153.3M | $146.6M | $139.0M |
| Key figures | ||||||||||
| Total debt | $182.6M | $179.1M | $181.1M | $198.3M | $172.0M | $171.3M | $153.8M | $133.5M | $124.3M | $118.9M |
| Net cash (debt) | −$182.6M | −$178.0M | −$178.6M | −$197.0M | −$171.9M | −$171.3M | −$153.2M | −$133.2M | −$123.4M | −$118.7M |
| Working capital | −$12.3M | −$1.1M | $8.2M | −$16.3M | −$28.5M | −$26.1M | −$11.4M | −$21.6M | −$9.5M | −$4.7M |
| Tangible book value | $248.0M | $237.2M | $228.5M | $186.0M | $178.0M | $168.8M | $160.0M | $153.0M | $146.0M | $138.4M |
| Book value per share | $24.24 | $23.23 | $22.99 | $19.82 | $18.88 | $18.08 | $17.19 | $16.49 | $15.87 | $15.18 |
| Shares outstanding | 10.3M | 10.3M | 10.0M | 9.5M | 9.4M | 9.4M | 9.3M | 9.3M | 9.2M | 9.2M |
| Current ratio | 0.64 | 0.96 | 1.37 | 0.63 | 0.40 | 0.40 | 0.55 | 0.43 | 0.67 | 0.76 |
| Quick ratio | 0.36 | 0.58 | 0.85 | 0.41 | 0.25 | 0.27 | 0.34 | 0.28 | 0.48 | 0.50 |
| Debt / equity | 0.73 | 0.75 | 0.79 | 1.06 | 0.97 | 1.01 | 0.96 | 0.87 | 0.85 | 0.86 |
| Equity / assets | 29.4% | 30.0% | 30.0% | 26.1% | 28.5% | 28.6% | 28.6% | 28.9% | 29.6% | 30.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $9.8M | $4.3M | $52,000 | $705,000 | $349,000 | $3.7M | $1.1M | $10.7M | $6.3M | $9.5M | $2.5M | $6.5M |
| Cash & equivalents | $9.8M | $4.3M | $52,000 | $705,000 | $349,000 | $3.7M | $1.1M | $10.7M | $6.3M | $9.5M | $2.5M | $6.5M |
| Receivables | $13.5M | $14.8M | $12.2M | $10.9M | $13.8M | $12.0M | $13.8M | $12.7M | $14.7M | $12.5M | $16.6M | $15.3M |
| Inventory | $0 | $3.3M | $3.7M | $4.0M | $4.5M | $5.5M | $4.3M | $4.5M | $4.8M | $4.9M | $6.0M | $5.5M |
| Other current assets | $7.5M | $4.1M | $5.5M | $3.9M | $3.6M | $3.9M | $5.3M | $6.5M | $3.5M | $4.0M | $5.6M | $6.7M |
| Total current assets | $30.8M | $26.5M | $21.4M | $19.6M | $22.3M | $25.2M | $24.5M | $34.3M | $29.1M | $30.8M | $30.6M | $33.9M |
| Property, plant & equipment (net) | $825.8M | $3.9M | $805.6M | $792.3M | $774.5M | $760.7M | $751.2M | $734.2M | $727.9M | $726.4M | $718.5M | $710.2M |
| Goodwill & intangible assets | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M |
| Long-term investments | $0 | $7.4M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $25.4M | $827.2M | $22.2M | $20.1M | $20.6M | $21.1M | $21.0M | $25.5M | $24.1M | $16.3M | $16.1M | $15.8M |
| Total assets | $884.0M | $866.9M | $851.2M | $833.9M | $819.3M | $808.9M | $798.6M | $796.0M | $783.1M | $775.4M | $767.1M | $761.8M |
| Liabilities | ||||||||||||
| Accounts payable | $9.5M | $8.3M | $14.0M | $12.2M | $10.4M | $9.2M | $11.2M | $9.6M | $7.8M | $7.9M | $9.7M | $8.4M |
| Short-term debt | $2.5M | $2.6M | $8.0M | $2.6M | $4.3M | $2.6M | $2.2M | $6.3M | $2.3M | $2.3M | $2.3M | $7.3M |
| Deferred revenue | — | $3.6M | $3.5M | $3.5M | $3.4M | $3.4M | $3.3M | $3.2M | $2.9M | $2.9M | $3.0M | $2.7M |
| Total current liabilities | $30.4M | $26.2M | $33.7M | $29.0M | $25.6M | $25.6M | $25.6M | $28.0M | $22.4M | $21.7M | $22.4M | $27.2M |
| Long-term debt | $0 | $183.4M | $174.3M | $174.7M | $175.1M | $175.9M | $176.5M | $176.9M | $177.5M | $178.3M | $178.3M | $175.9M |
| Lease obligations | — | $406,000 | $407,000 | $399,000 | $401,000 | $403,000 | $404,000 | $496,000 | $499,000 | $501,000 | $503,000 | $492,000 |
| Other long-term liabilities | $597.4M | $404.5M | $393.3M | $381.4M | $373.7M | $365.6M | $357.3M | $352.8M | $348.8M | $343.4M | $336.0M | $329.2M |
| Total liabilities | $627.8M | $614.1M | $601.3M | $585.1M | $574.4M | $567.2M | $559.4M | $557.7M | $548.7M | $543.4M | $536.8M | $532.2M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $10.3M | $10.3M | $10.3M | $10.3M | $10.3M | $10.3M | $10.3M | $10.3M | $10.3M | $10.3M | $10.3M | $10.3M |
| Retained earnings (deficit) | $101.1M | $97.8M | $95.1M | $94.2M | $90.4M | $87.3M | $85.0M | $84.2M | $80.5M | $78.2M | $76.7M | $76.2M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | — | $0 | — | $0 |
| Total shareholders' equity | $256.2M | $252.8M | $249.9M | $248.8M | $244.9M | $241.7M | $239.2M | $238.3M | $234.4M | $232.0M | $230.4M | $229.6M |
| Key figures | ||||||||||||
| Total debt | $185.5M | $186.4M | $182.6M | $177.6M | $179.8M | $178.9M | $179.1M | $183.6M | $180.3M | $181.1M | $181.1M | $183.6M |
| Net cash (debt) | −$175.7M | −$182.2M | −$182.6M | −$176.9M | −$179.5M | −$175.2M | −$178.0M | −$172.9M | −$174.1M | −$171.6M | −$178.6M | −$177.2M |
| Working capital | $451,000 | $306,000 | −$12.3M | −$9.4M | −$3.3M | −$455,000 | −$1.1M | $6.3M | $6.7M | $9.1M | $8.2M | $6.8M |
| Tangible book value | $254.3M | $250.9M | $248.0M | $246.9M | $243.0M | $239.7M | $237.2M | $236.4M | $232.5M | $230.0M | $228.5M | $227.7M |
| Book value per share | $24.81 | $24.49 | $24.22 | $24.13 | $23.75 | $23.45 | $23.22 | $23.14 | $22.77 | $22.54 | $22.40 | $22.34 |
| Shares outstanding | 10.3M | 10.3M | 10.3M | 10.3M | 10.3M | 10.3M | 10.3M | 10.3M | 10.3M | 10.3M | 10.3M | 10.3M |
| Current ratio | 1.01 | 1.01 | 0.64 | 0.68 | 0.87 | 0.98 | 0.96 | 1.22 | 1.30 | 1.42 | 1.37 | 1.25 |
| Quick ratio | 0.77 | 0.73 | 0.36 | 0.40 | 0.55 | 0.61 | 0.58 | 0.84 | 0.93 | 1.01 | 0.85 | 0.80 |
| Debt / equity | 0.72 | 0.74 | 0.73 | 0.71 | 0.73 | 0.74 | 0.75 | 0.77 | 0.77 | 0.78 | 0.79 | 0.80 |
| Equity / assets | 29.0% | 29.2% | 29.4% | 29.8% | 29.9% | 29.9% | 30.0% | 29.9% | 29.9% | 29.9% | 30.0% | 30.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 16, 2026); data from EODHD.
ARTNA financial position
At the end of fiscal 2025 (December 31, 2025), Artesian Resources had total assets of $851.2 million (up 6.6% from a year earlier), total liabilities of $601.3 million and shareholders' equity of $249.9 million. It held $0.1 million in cash and short-term investments against $182.6 million of debt, net debt of $182.6 million. Its current ratio was 0.64. In the latest quarter (ended June 30, 2026) total assets were $884.0 million and equity $256.2 million.
Related: ARTNA income statement, ARTNA cash flow statement, ARTNA key metrics. See the ARTNA stock overview for the latest quote and news.
ARTNA balance sheet FAQ
What are Artesian Resources's total assets?
Artesian Resources reported total assets of $851.2 million at the end of fiscal 2025 (December 31, 2025), compared with $798.6 million a year earlier.
How much debt does Artesian Resources have?
Artesian Resources had $182.6 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.73.
How much cash does Artesian Resources have?
Artesian Resources held $0.1 million in cash and short-term investments at the end of fiscal 2025; with $182.6 million of debt that is net debt of $182.6 million.
What is Artesian Resources's book value?
Artesian Resources's shareholders' equity (book value) was $249.9 million at the end of fiscal 2025, or $24.24 per share.
What is Artesian Resources's current ratio?
Artesian Resources had current assets of $21.4 million and current liabilities of $33.7 million, a current ratio of 0.64 (current liabilities exceed current assets).
How much goodwill does Artesian Resources have?
Artesian Resources carried $1.9 million of goodwill and intangible assets, 0.2% of total assets, at the end of fiscal 2025.