Company Valuation: Artesian Resources Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 346.3 434.9 551.1 424.7 325.1 327.7
Change - 25.58% 26.71% -22.93% -23.45% 0.79%
Enterprise Value (EV) 1 517.7 606.8 748.1 603.3 503.1 510.3
Change - 17.21% 23.28% -19.36% -16.6% 1.43%
P/E 20.7x 25.9x 30.8x 24.9x 16x 14.3x
PBR 2.05x 2.45x 2.96x 1.85x 1.36x 1.3x
PEG - - 5.01x -2x 0.9x 1.2x
Capitalization / Revenue 3.93x 4.79x 5.57x 4.3x 3.01x 2.9x
EV / Revenue 5.87x 6.68x 7.56x 6.1x 4.66x 4.52x
EV / EBITDA 13.2x 15.2x 17.6x 14.3x 10.7x 10.3x
EV / EBIT 18.5x 21.6x 25.1x 21x 15x 14.3x
EV / FCF -33.3x -46.3x -27.3x -15.4x -60.2x -22x
FCF Yield -3% -2.16% -3.66% -6.51% -1.66% -4.55%
Dividend per Share 2 1.006 1.047 1.092 1.136 1.182 1.23
Rate of return 2.71% 2.26% 1.86% 2.74% 3.74% 3.89%
EPS 2 1.79 1.79 1.9 1.667 1.98 2.21
Distribution rate 56.2% 58.5% 57.5% 68.2% 59.7% 55.6%
Net sales 1 88.14 90.86 98.9 98.86 108 112.9
EBITDA 1 39.12 39.92 42.4 42.13 47.1 49.42
EBIT 1 27.98 28.03 29.78 28.79 33.47 35.61
Net income 1 16.82 16.83 18 16.7 20.39 22.82
Net Debt 1 171.4 171.9 197 178.6 178 182.6
Reference price 2 37.08 46.33 58.58 41.45 31.62 31.61
Nbr of stocks (in thousands) 9,341 9,406 9,491 10,277 10,298 10,313
Announcement Date 3/12/21 3/11/22 3/10/23 3/18/24 3/26/25 3/16/26
1USD in Million2USD
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 342M
21.95x7.8x13.67x2.64% 26.54B
17.92x6.16x10.44x2.76% 22.33B
15.28x7.68x12.83x3.77% 14.54B
20.14x6.74x13.55x4.12% 12.72B
18.4x8.29x14.55x3.49% 11.46B
11.83x3.24x6.15x5.49% 7.46B
18.68x3.87x9.94x2.99% 4.67B
14.47x5.13x10.71x5.78% 4.17B
22.02x - - 2.57% 3.24B
Average 17.86x 6.11x 11.48x 3.74% 10.75B
Weighted average by Cap. 18.48x 6.74x 12.12x 3.42%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Artesian Resources Corporation

Historical PBR trend

Valuation ratios - PBR - Artesian Resources Corporation

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Artesian Resources Corporation

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Artesian Resources Corporation

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