Artesian Resources Corporation (ARTNA) Income Statement
ARTNA 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsARTNA revenue and net income
Where ARTNA's revenue goes
2025Each bar shows an amount and its share of revenue. ARTNA kept 20.2% of revenue as net income.
ARTNA profit margins
ARTNA growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +4.6% | +4.5% | +5.1% | +3.9% |
| Gross profit | −21.4% | −4.5% | −1.2% | +0.9% |
| Operating income | +36.2% | +14.2% | +9.8% | +7.3% |
| Net income | +11.9% | +8.2% | +6.3% | +7.3% |
| EPS (diluted) | +12.1% | +5.5% | +4.3% | +5.8% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ARTNA quarterly EPS vs estimates
Artesian Resources beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: October 29, 2026 (estimate $0.61).
ARTNA income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $112.9M | $108.0M | $98.9M | $98.9M | $90.9M | $88.1M | $83.6M | $80.4M | $82.2M | $79.1M |
| Cost of revenue | $70.9M | $54.5M | $50.6M | $50.6M | $45.4M | $43.6M | $42.5M | $41.2M | $41.1M | $38.3M |
| Gross profit | $42.0M | $53.4M | $48.2M | $48.3M | $45.5M | $44.5M | $41.1M | $39.2M | $41.2M | $40.8M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | — | — | — | $56.5M | $50.9M | $49.0M | $47.7M | $46.2M | $45.8M | $42.8M |
| Total operating expenses | $6.4M | $27.3M | $25.8M | $24.4M | $23.2M | $22.2M | $21.2M | $15.3M | $14.3M | $13.7M |
| Operating income | $35.6M | $26.2M | $22.4M | $23.9M | $22.3M | $22.3M | $19.9M | $19.0M | $19.6M | $18.8M |
| Interest income | — | — | — | — | — | — | $7.0M | $6.3M | $6.2M | $6.6M |
| Interest expense | $8.7M | $8.8M | $9.2M | $8.5M | $7.6M | $7.6M | $7.0M | $6.3M | $6.2M | $6.6M |
| Income before taxes | $30.7M | $27.7M | $23.0M | $23.9M | $22.6M | $22.5M | $20.1M | $19.3M | $21.3M | $21.3M |
| Income taxes | $7.8M | $7.3M | $6.3M | $5.9M | $5.7M | $5.7M | $5.2M | $5.0M | $7.3M | $8.3M |
| Net income | $22.8M | $20.4M | $16.7M | $18.0M | $16.8M | $16.8M | $14.9M | $14.3M | $14.0M | $13.0M |
| EBITDA | $53.1M | $50.1M | $42.1M | $42.4M | $39.9M | $39.1M | $37.9M | $34.2M | $36.5M | $36.3M |
| EPS (diluted) | $2.22 | $1.98 | $1.66 | $1.89 | $1.79 | $1.80 | $1.61 | $1.53 | $1.51 | $1.42 |
| Gross margin | 37.2% | 49.5% | 48.8% | 48.8% | 50.1% | 50.5% | 49.2% | 48.8% | 50.1% | 51.6% |
| Operating margin | 31.5% | 24.2% | 22.7% | 24.2% | 24.5% | 25.3% | 23.8% | 23.6% | 23.8% | 23.8% |
| Net margin | 20.2% | 18.9% | 16.9% | 18.2% | 18.5% | 19.1% | 17.9% | 17.8% | 17.0% | 16.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $30.7M | $27.8M | $28.0M | $30.5M | $28.5M | $25.9M | $26.9M | $29.1M | $27.4M | $24.5M | $24.5M | $26.6M |
| Cost of revenue | $18.2M | $17.8M | $19.0M | $18.2M | $13.5M | $13.4M | $14.8M | $13.3M | $13.3M | $13.1M | $12.8M | $12.7M |
| Gross profit | $12.4M | $10.0M | $9.0M | $12.3M | $15.0M | $12.4M | $12.0M | $15.8M | $14.1M | $11.5M | $11.7M | $13.9M |
| Total operating expenses | $1.5M | $1.6M | $1.9M | $1.2M | $7.2M | $6.9M | $6.4M | $7.2M | $6.9M | $6.8M | $6.2M | $7.2M |
| Operating income | $10.9M | $8.3M | $7.1M | $11.1M | $7.9M | $5.5M | $5.6M | $8.6M | $7.2M | $4.7M | $5.5M | $6.7M |
| Interest expense | $2.3M | $2.2M | $2.2M | $2.2M | $2.2M | $2.2M | $2.2M | $2.2M | $2.2M | $2.2M | $2.2M | $2.2M |
| Income before taxes | $8.8M | $8.0M | $5.5M | $9.4M | $8.5M | $7.3M | $5.2M | $9.2M | $7.3M | $6.1M | $4.7M | $7.3M |
| Income taxes | $2.3M | $2.1M | $1.3M | $2.5M | $2.2M | $1.9M | $1.3M | $2.4M | $1.9M | $1.7M | $1.2M | $2.2M |
| Net income | $6.6M | $5.9M | $4.1M | $7.0M | $6.3M | $5.4M | $3.8M | $6.8M | $5.3M | $4.4M | $3.5M | $5.1M |
| EBITDA | $14.4M | $13.7M | $11.2M | $15.1M | $14.0M | $12.8M | $10.9M | $14.6M | $12.9M | $11.7M | $10.3M | $13.0M |
| EPS (diluted) | $0.64 | $0.57 | $0.40 | $0.68 | $0.61 | $0.53 | $0.37 | $0.66 | $0.52 | $0.43 | $0.34 | $0.49 |
| Gross margin | 40.5% | 35.8% | 32.2% | 40.3% | 52.7% | 48.1% | 44.9% | 54.2% | 51.4% | 46.7% | 47.8% | 52.2% |
| Operating margin | 35.5% | 30.0% | 25.4% | 36.4% | 27.5% | 21.4% | 21.0% | 29.5% | 26.3% | 19.2% | 22.5% | 25.1% |
| Net margin | 21.4% | 21.4% | 14.8% | 22.8% | 22.0% | 21.0% | 14.3% | 23.4% | 19.4% | 18.0% | 14.2% | 19.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ARTNA's financial statements (latest annual report filed March 16, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ARTNA financial results
In fiscal year 2025 (ended December 31, 2025), Artesian Resources reported revenue of $112.9 million, up 4.6% from the year before. It had net income of $22.8 million (up 11.9%), a net profit margin of 20.2%. Diluted earnings per share came to $2.22. Over five years revenue grew at an average rate of 5.1% a year.
See the ARTNA stock overview for the latest quote and news, or the ARTNA chart for price history and technical indicators.
ARTNA income statement FAQ
What is Artesian Resources's annual revenue?
Artesian Resources reported total revenue of $112.9 million for fiscal year 2025, which ended on December 31, 2025. That was up 4.6% from $108.0 million the previous year.
Is Artesian Resources profitable?
Yes. Artesian Resources reported net income of $22.8 million in fiscal 2025, a net profit margin of 20.2%; its operating margin was 31.5%.
What is Artesian Resources's gross margin?
Artesian Resources's gross margin was 37.2% in fiscal 2025: for every $100 of revenue, Artesian Resources kept $37 after the direct cost of its products and services.
How fast is Artesian Resources growing?
Revenue grew 5.1% a year on average over the last five fiscal years, from $88.1 million to $112.9 million.
What are Artesian Resources's earnings per share?
Artesian Resources earned $2.22 per diluted share in fiscal 2025, compared with $1.98 a year earlier.
When will Artesian Resources report its next earnings?
Artesian Resources is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 after the market closes.
When does Artesian Resources's fiscal year end?
Artesian Resources's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 16, 2026.