$340.9 M

ARTNA Mkt cap, 16-Aug-2018

$39.1 M

Artesian Resources Revenue Q2, 2018
Artesian Resources EBIT (Q2, 2018)9.2 M
Artesian Resources Cash, 30-Jun-2018216 K
Artesian Resources EV447 M

Artesian Resources Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

69.1 m72.5 m77 m79.1 m82.2 m

Revenue growth, %

5%6%3%

Operating expense total

62.6 m

Depreciation and amortization

9.6 m

EBIT

14.5 m16 m17.6 m18.8 m19.6 m

EBIT margin, %

21%22%23%24%24%

Net Income

8.3 m9.5 m11.3 m13 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018Q2, 2018

Revenue

18.1 m16.9 m17.9 m19.6 m18 m19.5 m20.8 m18.4 m19.4 m21.8 m19.2 m20.5 m18.9 m39.1 m

Operating expense total

13.7 m13.8 m14.2 m14.3 m14.3 m14.6 m15.4 m14.6 m14.7 m15.9 m15.2 m15.5 m14.9 m29.9 m

Depreciation and amortization

2.6 m5.1 m

EBIT

4.3 m3.1 m3.6 m5.3 m3.7 m5 m5.4 m3.9 m4.7 m5.9 m4 m5 m4 m9.2 m

EBIT margin, %

24%19%20%27%20%26%26%21%24%27%21%24%21%24%

Net Income

2.6 m2.1 m2 m3.3 m2.5 m3.2 m3.7 m2.8 m3 m

Artesian Resources Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

422 k243 k209 k226 k952 k

Accounts Receivable

5.1 m5.1 m6.4 m7.8 m8.9 m

Inventories

1.5 m1.9 m1.7 m1.6 m1.5 m

Current Assets

13.3 m16.6 m14.4 m14.6 m19 m

Total Assets

403.8 m422.2 m431.6 m451 m494.6 m

Accounts Payable

4.1 m3.8 m4.9 m5.5 m8.9 m

Short-term debt

1.1 m1.2 m1.3 m1.3 m1.3 m

Current Liabilities

25.6 m30.2 m23.2 m19.3 m28.5 m

Long-term debt

105.5 m105 m103.6 m102.3 m105.6 m

Total Debt

106.6 m106.2 m104.9 m103.6 m106.9 m

Common Stock

8.8 m8.9 m9.1 m9.1 m9.2 m

Preferred Stock

Additional Paid-in Capital

90.8 m92.5 m95.6 m97.5 m99.5 m

Retained Earnings

22.2 m24.1 m27.6 m32.4 m37.9 m

Total Equity

121.8 m125.6 m132.3 m139 m146.6 m

Debt to Equity Ratio

0.9 x0.8 x0.8 x0.7 x

Debt to Assets Ratio

0.3 x0.3 x0.2 x0.2 x

Financial Leverage

3.3 x3.4 x3.3 x3.2 x3.4 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018Q2, 2018

Cash

577 k451 k394 k203 k353 k360 k525 k511 k223 k244 k209 k303 k293 k216 k

Accounts Receivable

5.9 m4.9 m5.5 m5 m6.1 m5.9 m6.6 m5.8 m7.9 m7.8 m6.2 m6.8 m8.1 m9.8 m

Inventories

1.6 m1.6 m1.7 m1.8 m1.9 m1.8 m1.7 m1.8 m1.9 m2.1 m1.6 m1.6 m1.4 m1.4 m

Current Assets

14.7 m12 m12.4 m14.2 m14.5 m13.8 m15 m12.1 m14 m15.9 m12.2 m12.9 m14.4 m16 m

Total Assets

400.4 m403.1 m407.9 m417 m421.5 m424.6 m429.9 m430.8 m439 m446.9 m458.5 m466.6 m497.1 m509 m

Accounts Payable

3.7 m3.5 m3.3 m3.9 m3.4 m2.6 m3.2 m3.1 m3.6 m4.4 m4.3 m3.4 m4.7 m5.1 m

Dividends Payable

1.8 m1.9 m1.9 m2 m2.1 m2.2 m

Short-term debt

1.1 m1.1 m1.1 m1.2 m1.3 m1.3 m1.3 m1.3 m1.3 m1.3 m26.3 m26.3 m1.4 m1.4 m

Current Liabilities

26.4 m22.6 m25.9 m34.2 m28.2 m25.7 m27.3 m17.4 m17.5 m20.9 m43 m44.2 m30.3 m39.3 m

Long-term debt

105.7 m105.5 m105.5 m105.3 m104.6 m104.3 m103.9 m103.3 m103 m102.6 m81.5 m81.3 m105.2 m104.9 m

Total Debt

106.8 m106.6 m106.6 m106.4 m105.8 m105.6 m105.2 m104.6 m104.3 m103.9 m107.9 m107.6 m106.5 m106.3 m

Common Stock

8.8 m8.9 m8.9 m8.9 m8.9 m8.9 m9 m9.1 m9.1 m9.1 m9.1 m9.2 m9.2 m9.2 m

Preferred Stock

Additional Paid-in Capital

90.1 m91.5 m92.1 m92.3 m92.7 m92.9 m94.4 m96 m96.8 m97.1 m97.9 m98.8 m100 m100.2 m

Retained Earnings

20.6 m22.4 m22.5 m22 m22.8 m26.1 m25.8 m28.5 m29.5 m29.7 m33.4 m34.5 m39.2 m38.7 m

Total Equity

119.5 m122.8 m123.4 m123.2 m124.5 m127.9 m129.2 m133.5 m135.4 m135.9 m140.5 m142.5 m148.4 m148.2 m

Financial Leverage

3.4 x3.3 x3.3 x3.4 x3.4 x3.3 x3.3 x3.2 x3.2 x3.3 x3.3 x3.3 x3.4 x3.4 x

Artesian Resources Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

8.3 m9.5 m11.3 m13 m14 m

Depreciation and Amortization

8.3 m8.7 m8.8 m9.2 m9.6 m

Accounts Receivable

Inventories

(132 k)(405 k)177 k149 k45 k

Accounts Payable

641 k(357 k)1.1 m618 k3.3 m

Cash From Operating Activities

21 m18.3 m28.3 m29.8 m35.8 m

Cash From Investing Activities

(21.2 m)(23.7 m)(20.6 m)(28.2 m)(41 m)

Dividends Paid

(7.2 m)(7.5 m)(7.8 m)(8.2 m)(8.5 m)

Cash From Financing Activities

(62 k)5.2 m(7.7 m)(1.6 m)6 m

Interest Paid

7.1 m7 m7.4 m6.7 m5.4 m

Income Taxes Paid

2 m1.6 m2.6 m1.4 m1.3 m

Free Cash Flow

42.2 m42.1 m49 m1.5 m(5.3 m)

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q1, 2018Q2, 2018

Net Income

2.6 m2.1 m2 m3.3 m2.5 m3.2 m3.7 m2.8 m3 m3.5 m7.4 m

Depreciation and Amortization

2.1 m2.1 m2.2 m2.3 m2.2 m2.2 m2.2 m2.3 m2.2 m2.3 m2.3 m2.6 m5.1 m

Accounts Receivable

5.5 m5 m6.1 m5.9 m6.6 m5.8 m7.9 m7.8 m6.2 m

Inventories

1.7 m1.8 m1.9 m1.8 m1.7 m1.8 m1.9 m2.1 m1.6 m102 k94 k

Accounts Payable

3.3 m3.9 m3.4 m2.6 m3.2 m3.1 m3.6 m4.4 m4.3 m(4.2 m)(3.7 m)

Cash From Operating Activities

5.9 m12.7 m

Cash From Investing Activities

(9.9 m)(23 m)

Dividends Paid

(2.2 m)(4.4 m)

Cash From Financing Activities

3.3 m9.6 m

Interest Paid

2.2 m3.2 m

Income Taxes Paid

1.3 m

Free Cash Flow

(4 m)(10.3 m)

Artesian Resources Ratios

USDY, 2018

EV/EBIT

48.5 x

EV/CFO

35.3 x

EV/FCF

-43.3 x

Financial Leverage

3.4 x
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