Artesian Resources Corporation Financial Ratios — ARTNB

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	6.48	8.52	6.92	7.68	8.77	9.55	9.79	9.52	9.52	10.2	9.69	9.84	7.98	8.69	9.33
Return on Assets (%)	1.8	2.56	2.09	2.3	2.65	2.94	2.96	2.79	2.74	2.92	2.76	2.68	2.25	2.61	2.77
Return on Capital (%)	4.77	5.98	5.25	5.69	6.2	6.82	7.03	6.87	6.7	6.87	6.51	6.63	5.85	6.47	6.88
Return on Invested Capital (%)	4.68	5.7	5.02	5.46	6.01	6.63	6.89	6.45	6.2	6.38	6.05	6.1	5.23	5.93	6.23
Gross Margin (%)	45.52	48.67	46.97	48.82	50.08	51.62	50.08	48.75	49.15	50.52	50.08	48.81	48.78	49.48	49.42
EBITDA Margin (%)	39.65	43.08	41	42.91	44.41	45.95	44.32	42.57	42.96	44.39	43.93	42.88	42.61	43.63	43.76
Operating Margin (%)	28.26	31.85	29.06	30.94	32.93	34.33	32.71	29.78	30.03	31.74	30.85	30.12	29.13	31	31.53
Incremental Operating Margin (%)	-518.92	74.29	161.01	69.25	64.6	86.39	-8.11	161.68	36.43	63.2	1.91	21.81	2,750	51.39	43.03
Pretax Margin (%)	17.52	23.33	20.11	21.92	24.78	26.91	25.87	23.96	24.05	25.53	24.83	24.14	23.31	25.67	27.14
Profit Margin (%)	10.37	13.95	12.02	13.12	14.68	16.38	17	17.76	17.85	19.08	18.52	18.2	16.89	18.89	20.21
Net Income to Common Margin (%)	10.37	13.95	12.02	13.12	14.68	16.38	17	17.76	17.85	19.08	18.52	18.2	16.89	18.89	20.21
Effective Tax Rate (%)	40.82	40.19	40.23	40.14	40.78	39.14	34.28	25.9	25.77	25.26	25.43	24.62	27.54	26.4	25.55
Dvd Payout Ratio (%)	91.77	69.57	86.82	79.14	69.09	63.15	60.76	61.77	61.12	55.75	58.39	57.33	67.32	59.66	55.55
Sustainable Growth Rate (%)	0.53	2.59	0.91	1.6	2.71	3.52	3.84	3.64	3.7	4.51	4.03	4.2	2.61	3.5	4.15

Credit (USD)

Credit Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	120	119	118	125	116	111	117	134	154	171	172	198	181	179	183
ST Debt	14	13	12	20	12	8	11	18	9	29	28	22	2	2	8
LT Debt	107	106	106	105	104	102	106	116	145	143	144	176	179	177	175
Total Debt/EBITDA	4.67	3.91	4.16	4.01	3.39	3.05	3.21	3.9	4.28	4.38	4.31	4.68	4.3	3.8	3.7
Net Debt/EBITDA	4.65	3.89	4.14	4.01	3.38	3.04	3.18	3.9	4.25	4.37	4.3	4.63	4.23	3.77	3.69
Total Debt/EBIT	6.54	5.29	5.86	5.57	4.57	4.08	4.34	5.58	6.13	6.13	6.14	6.66	6.29	5.35	5.13
Net Debt/EBIT	6.53	5.26	5.84	5.56	4.56	4.07	4.31	5.57	6.09	6.11	6.12	6.6	6.18	5.31	5.12
EBITDA to Interest Expense	3.54	4.32	4.01	4.21	4.89	5.47	5.9	5.48	5.11	5.13	5.26	4.99	4.6	5.36	5.69
EBITDA-CapEx/Interest Expense	3.54	4.32	4.01	4.21	4.89	5.47	5.9	5.48	5.11	5.13	5.26	4.99	4.6	5.36	5.69
EBIT to Interest Expense	2.52	3.19	2.85	3.03	3.62	4.09	4.35	3.83	3.57	3.67	3.69	3.5	3.14	3.81	4.1
Interest Expense	7	7	7	7	7	7	6	6	7	8	8	9	9	9	9
Common Equity/Total Assets	29.84	30.17	30.17	29.75	30.66	30.83	29.65	28.92	28.6	28.56	28.49	26.11	30.05	29.95	29.36
Long-Term Debt/Equity (%)	94.28	89.91	86.6	83.56	78.32	73.61	72	75.6	90.23	84.26	80.73	93.7	77.61	73.96	69.9
Long-Term Debt/Capital (%)	45.65	44.83	44.04	41.91	41.74	40.96	40.07	40.38	46.04	41.88	41.05	45.59	43.46	42.29	40.38
Long-Term Debt/Total Assets (%)	28.13	27.13	26.13	24.86	24.01	22.69	21.35	21.87	25.81	24.07	23	24.46	23.32	22.15	20.52
Total Debt/Equity (%)	106.52	100.55	96.62	99.38	87.64	79.71	79.68	87.21	95.98	101.19	96.64	105.52	78.58	74.88	73.08
Total Debt/Capital (%)	51.58	50.14	49.14	49.85	46.71	44.35	44.35	46.58	48.97	50.3	49.14	51.34	44	42.82	42.22
Total Debt/Total Assets (%)	31.78	30.34	29.15	29.57	26.87	24.57	23.62	25.22	27.45	28.9	27.54	27.55	23.61	22.43	21.46
Net Debt to Equity	106.24	100.03	96.28	99.19	87.48	79.54	79.03	87.02	95.33	100.92	96.34	104.58	77.28	74.23	72.89
Net Debt/Capital (%)	51.51	50.01	49.05	49.8	46.66	44.3	44.14	46.53	48.73	50.16	49.01	51.06	43.54	42.56	42.12
EBITDA	26	30	28	31	34	36	36	34	36	39	40	42	42	47	49
EBITDA-CapEx	26	30	28	31	34	36	36	34	36	39	40	42	42	47	49
Operating Income (Loss)	18	22	20	22	25	27	27	24	25	28	28	30	29	33	36

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.01	0.02	0.02	0.01	0.01	0.01	0.03	0.01	0.02	- -	- -	0.03	0.11	0.04	- -
Current Ratio	0.54	0.54	0.52	0.55	0.64	0.76	0.67	0.43	0.55	0.4	0.4	0.63	1.37	0.96	0.64
Quick Ratio	0.36	0.37	0.35	0.39	0.43	0.5	0.48	0.28	0.34	0.27	0.25	0.41	0.85	0.58	0.36
CFO/Avg Current Liab	0.58	0.94	0.83	0.66	1.08	1.43	1.5	0.88	0.6	0.59	0.69	0.53	0.96	1.53	1.36
Common Equity/Total Assets	29.84	30.17	30.17	29.75	30.66	30.83	29.65	28.92	28.6	28.56	28.49	26.11	30.05	29.95	29.36
Long-Term Debt/Equity (%)	94.28	89.91	86.6	83.56	78.32	73.61	72	75.6	90.23	84.26	80.73	93.7	77.61	73.96	69.9
Long-Term Debt/Capital (%)	45.65	44.83	44.04	41.91	41.74	40.96	40.07	40.38	46.04	41.88	41.05	45.59	43.46	42.29	40.38
Long-Term Debt/Total Assets (%)	28.13	27.13	26.13	24.86	24.01	22.69	21.35	21.87	25.81	24.07	23	24.46	23.32	22.15	20.52
Total Debt/Equity (%)	106.52	100.55	96.62	99.38	87.64	79.71	79.68	87.21	95.98	101.19	96.64	105.52	78.58	74.88	73.08
Total Debt/Capital (%)	51.58	50.14	49.14	49.85	46.71	44.35	44.35	46.58	48.97	50.3	49.14	51.34	44	42.82	42.22
Total Debt/Total Assets (%)	31.78	30.34	29.15	29.57	26.87	24.57	23.62	25.22	27.45	28.9	27.54	27.55	23.61	22.43	21.46
CFO/Total Liabilities	7.23	8.54	7.45	6.23	9.49	9.55	10.28	7.74	4.72	4.8	7.01	4.56	5.94	6.58	6.71
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	0.61	0.7	0.67	0.69	0.78	0.9	0.92	0.8	0.85	0.83	0.91	0.92	0.85	0.76	0.75

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	15.34	19.13	17.51	18.29	17.05	15.13	15.06	14.53	14.98	14.35	12.96	14.36	13.81	13.43	16.53
Days Sales Outstanding	23.79	19.08	20.85	19.95	21.41	24.12	24.24	25.13	24.36	25.43	28.16	25.42	26.42	27.17	22.08
Inventory Turnover	25.98	25.54	25.81	21.98	21.34	23.35	26.63	27.68	31.22	31.16	26.16	15.26	9.48	10.63	14.29
Days Inventory Outstanding	14.05	14.29	14.14	16.61	17.1	15.63	13.71	13.19	11.69	11.71	13.95	23.92	38.51	34.34	25.54
Accounts Payable Turnover	11.54	11.49	9.62	9.46	8.8	7.3	5.7	4.83	5.17	6.05	5.53	5.05	5.03	5.05	4.48
Accounts Payable Turnover Days	31.63	31.77	37.92	38.57	41.47	50.02	64.02	75.57	70.58	60.37	66	72.24	72.51	72.28	81.45
Cash Conversion Cycle	6.21	1.6	-2.94	-2.01	-2.96	-10.27	-26.07	-37.26	-34.53	-23.23	-23.89	-22.9	-7.57	-10.77	-33.84
Inventory to Cash Days	9.74	4.79	6.71	3.34	4.31	8.49	10.54	11.94	12.67	13.72	14.2	1.5	-12.09	-7.16	-3.46
Inventories	1	1	1	2	2	2	2	1	1	2	2	5	6	4	4
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	1	1	1	2	2	2	2	1	1	2	2	5	6	4	4

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	108	131	138	150	170	228	286	272	300	311	393	475	398	320	345
- Cash & Cash Equivalents	- -	1	- -	- -	- -	- -	1	- -	1	- -	- -	1	3	1	- -
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	120	119	118	125	116	111	117	134	154	171	172	198	181	179	183
Enterprise Value	228	249	255	275	286	339	402	406	453	482	565	672	576	498	527
Total Capital	233	237	240	250	248	250	263	287	314	341	350	386	411	418	433
Total Debt/Capital (%)	51.58	50.14	49.14	49.85	46.71	44.35	44.35	46.58	48.97	50.3	49.14	51.34	44	42.82	42.22
Total Debt / EV	0.53	0.48	0.46	0.45	0.41	0.33	0.29	0.33	0.34	0.36	0.3	0.29	0.31	0.36	0.35
EV/Sales	3.5	3.54	3.7	3.79	3.71	4.28	4.89	5.05	5.42	5.47	6.22	6.8	5.83	4.61	4.67
EV/EBITDA	8.84	8.21	9.02	8.83	8.35	9.33	11.03	11.85	12.62	12.33	14.16	15.86	13.68	10.57	10.67
EV/EBIT	12.4	11.1	12.73	12.25	11.26	12.48	14.94	16.94	18.05	17.24	20.17	22.58	20.01	14.87	14.81
EV/Cash Flow to Firm	9.69	9.04	10.12	12	8.78	10.02	10.09	12.01	18.82	18.52	15.29	21.92	14.97	11.5	11.26
EV/Free Cash Flow to Firm	9.69	9.04	10.12	12	8.78	10.02	10.09	12.01	18.82	18.52	15.29	21.92	14.97	11.5	11.26
Diluted Market Cap	102	131	138	150	169	229	287	274	301	311	394	474	388	320	346
Diluted Enterprise Value	222	250	256	275	285	340	403	407	454	483	566	671	566	498	528
EV per Share	26.48	28.64	28.93	30.82	31.54	37.13	43.62	43.86	48.78	51.56	60.05	70.76	56.03	48.33	51.26
TTM Sales	65	71	69	72	77	79	82	80	84	88	91	99	99	108	113
TTM EBITDA	26	30	28	31	34	36	36	34	36	39	40	42	42	47	49
TTM Operating Income	18	22	20	22	25	27	27	24	25	28	28	30	29	33	36
TTM Cash Flow to Firm	24	28	25	23	33	34	40	34	24	26	37	31	38	43	47
TTM Free Cash Flow to Firm	24	28	25	23	33	34	40	34	24	26	37	31	38	43	47

Multiples (USD)

Valuation Multiples API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	5.32	5.62	6.58	8.14	5.95	7.69	8.02	9.39	15.96	15.3	12.58	19.55	12.17	8.68	8.56
EV/EBIT	12.4	11.1	12.73	12.25	11.26	12.48	14.94	16.94	18.05	17.24	20.17	22.58	20.01	14.87	14.81
Enterprise Value	228	249	255	275	286	339	402	406	453	482	565	672	576	498	527
Low Price	18	18	21.62	21.62	21.01	24.01	26	32	31.1	31.5	37	43.2	40	31.05	29.3
EV/Sales	3.5	3.54	3.7	3.79	3.71	4.28	4.89	5.05	5.42	5.47	6.22	6.8	5.83	4.61	4.67
EV/EBITDA	8.84	8.21	9.02	8.83	8.35	9.33	11.03	11.85	12.62	12.33	14.16	15.86	13.68	10.57	10.67
Price/Earnings	15.1	13.26	16.54	15.74	14.87	17.57	20.37	19.05	20.07	18.44	23.33	26.3	23.2	15.67	15.14
Price/Earnings Average	15.48	11.23	16.25	15.38	14.2	16.15	18.98	19.67	19.21	17.36	20.23	23.49	27.75	17.61	14.84
Price/Earnings High	24.08	19.04	22.86	21.68	21.4	22.47	27.23	25.3	23.93	21.19	29.03	30.49	34.05	20.19	16.6
Price/Earnings Low	21.67	15.84	22.85	20.21	16.65	16.86	17.06	20.71	19.33	17.47	20.66	22.71	24	15.67	13.24
Price/Book Value	0.96	1.11	1.13	1.19	1.28	1.64	1.95	1.78	1.87	1.84	2.21	2.53	1.73	1.34	1.38
Price/Book Value Average	0.98	0.94	1.11	1.17	1.23	1.51	1.82	1.83	1.79	1.73	1.92	2.26	2.07	1.5	1.35
Price/Book Value High	1.52	1.59	1.57	1.65	1.85	2.1	2.61	2.36	2.23	2.11	2.75	2.93	2.53	1.72	1.51
Price/Book Value Low	1.37	1.33	1.57	1.53	1.44	1.58	1.63	1.93	1.8	1.74	1.96	2.18	1.79	1.34	1.21
Price/Tangible Book Value	0.96	1.11	1.13	1.19	1.28	1.64	1.95	1.78	1.87	1.84	2.21	2.56	1.74	1.35	1.39
Price/Tangible Book Value Average	0.98	0.94	1.11	1.17	1.23	1.51	1.82	1.83	1.79	1.73	1.92	2.28	2.08	1.52	1.36
Price/Tangible Book Value High	1.52	1.59	1.57	1.65	1.85	2.1	2.61	2.36	2.23	2.11	2.75	2.96	2.56	1.74	1.52
Price/Tangible Book Value Low	1.37	1.33	1.57	1.53	1.44	1.58	1.63	1.93	1.8	1.74	1.96	2.21	1.8	1.35	1.22
Price/Sales	1.57	1.85	1.99	2.06	2.18	2.88	3.46	3.38	3.58	3.52	4.32	4.79	3.92	2.96	3.06
Price/Sales Average	1.61	1.57	1.95	2.02	2.08	2.65	3.23	3.49	3.43	3.31	3.75	4.28	4.69	3.33	3
Price/Sales High	2.5	2.66	2.75	2.84	3.14	3.68	4.63	4.49	4.27	4.04	5.38	5.55	5.75	3.81	3.35
Price/Sales Low	2.25	2.21	2.75	2.65	2.44	2.76	2.9	3.68	3.45	3.33	3.83	4.13	4.05	2.96	2.67
Price/Cash Flow	5.3	5.59	6.53	8.1	5.92	7.64	7.96	9.33	15.87	15.23	12.54	19.51	12.16	8.68	8.56
Price/Cash Flow Average	5.43	4.73	6.42	7.92	5.65	7.03	7.42	9.64	15.19	14.34	10.87	17.43	14.55	9.76	8.4
Price/Cash Flow High	8.45	8.02	9.03	11.16	8.52	9.78	10.64	12.4	18.93	17.5	15.6	22.62	17.85	11.18	9.39
Price/Cash Flow Low	7.61	6.67	9.02	10.4	6.63	7.34	6.67	10.15	15.29	14.43	11.1	16.85	12.58	8.68	7.49
Price/Free Cash Flow Average	5.46	4.76	6.46	7.95	5.68	7.07	7.47	9.69	15.27	14.4	10.91	17.46	14.55	9.76	8.4
Price/Free Cash Flow High	8.49	8.07	9.09	11.21	8.56	9.84	10.72	12.47	19.03	17.58	15.65	22.66	17.86	11.18	9.39
Price/Free Cash Flow Low	7.64	6.71	9.09	10.45	6.66	7.39	6.72	10.2	15.37	14.5	11.14	16.88	12.59	8.68	7.49
EV/Sales Average	3.55	3.25	3.66	3.74	3.61	4.05	4.65	5.16	5.27	5.27	5.65	6.29	6.62	4.98	4.61
EV/Sales High	4.49	4.35	4.46	4.57	4.68	5.09	6.06	6.16	6.11	6	7.28	7.57	7.71	5.47	4.96
EV/Sales Low	4.23	3.9	4.46	4.38	3.97	4.17	4.32	5.34	5.29	5.29	5.73	6.14	5.97	4.61	4.29
EV/EBITDA Average	8.95	7.54	8.93	8.72	8.13	8.82	10.49	12.11	12.26	11.87	12.86	14.66	15.53	11.41	10.53
EV/EBITDA High	11.33	10.09	10.88	10.66	10.53	11.08	13.67	14.46	14.23	13.52	16.57	17.64	18.09	12.53	11.34
EV/EBITDA Low	10.66	9.05	10.88	10.2	8.95	9.07	9.75	12.54	12.31	11.92	13.03	14.33	14	10.57	9.79
EV/EBIT Average	12.55	10.21	12.61	12.1	10.96	11.8	14.22	17.31	17.54	16.59	18.31	20.87	22.72	16.06	14.62
EV/EBIT High	15.89	13.64	15.36	14.78	14.2	14.83	18.53	20.67	20.35	18.9	23.6	25.12	26.47	17.63	15.74
EV/EBIT Low	14.96	12.24	15.35	14.15	12.07	12.14	13.22	17.93	17.61	16.66	18.56	20.4	20.49	14.87	13.59
Last Price	12.54	15.07	15.65	16.84	18.76	25.01	31.04	29.44	32.29	33.24	41.79	50.03	38.67	31.05	33.51
High Price	20	21.63	21.63	23.2	27	32	41.5	39.1	38.5	38.2	52	58	56.75	40	36.75
Enterprise Value Average	231	229	253	271	278	320	382	415	440	464	513	622	654	537	521
Enterprise Value High	292	307	308	331	360	403	498	495	511	529	661	748	762	590	561
Enterprise Value Low	275	275	308	317	306	330	355	429	442	466	520	608	590	498	484

Shares Outstanding	9	9	9	9	9	9	9	9	9	9	9	10	10	10	10
Diluted Weighted Avg Shares	8	9	9	9	9	9	9	9	9	9	9	9	10	10	10
Basic Weighted Avg Shares	8	9	9	9	9	9	9	9	9	9	9	9	10	10	10
Revenue per Share	8.01	8.14	7.87	8.16	8.6	8.69	8.96	8.7	9.01	9.45	9.67	10.45	9.87	10.49	10.96
EBITDA per Share	3.18	3.51	3.23	3.5	3.82	3.99	3.97	3.71	3.87	4.19	4.25	4.48	4.21	4.57	4.79
Operating Income per Share	2.26	2.59	2.29	2.52	2.83	2.98	2.93	2.59	2.71	3	2.98	3.15	2.87	3.25	3.45
Basic EPS, GAAP	0.83	1.14	0.95	1.07	1.26	1.42	1.52	1.55	1.61	1.8	1.79	1.9	1.67	1.98	2.21
Basic EPS from Cont Ops	0.83	1.14	0.95	1.07	1.26	1.42	1.52	1.55	1.61	1.8	1.79	1.9	1.67	1.98	2.21
Diluted EPS, GAAP	0.83	1.13	0.94	1.06	1.26	1.41	1.51	1.54	1.6	1.79	1.79	1.9	1.67	1.98	2.21
Diluted EPS from Cont Ops	0.83	1.13	0.94	1.06	1.26	1.41	1.51	1.54	1.6	1.79	1.79	1.9	1.67	1.98	2.21
Dividend per Share	0.76	0.79	0.82	0.85	0.87	0.9	0.93	0.95	0.98	1.01	1.05	1.09	1.12	1.18	1.23
Cash Flow per Share	2.37	2.7	2.4	2.08	3.17	3.27	3.9	3.15	2.03	2.18	3.33	2.56	3.18	3.58	3.91
Free Cash Flow per Basic Share	2.37	2.7	2.4	2.08	3.17	3.27	3.9	3.15	2.03	2.18	3.33	2.56	3.18	3.58	3.91
Cash & Equivalents per Share	0.04	0.07	0.05	0.03	0.02	0.02	0.1	0.03	0.06	- -	0.01	0.14	0.24	0.11	0.01
Book Value per Share	13.12	13.57	13.8	14.09	14.61	15.23	15.91	16.57	17.25	18.11	18.91	19.78	22.4	23.22	24.3
Tangible Book Value per Share	13.12	13.57	13.8	14.09	14.61	15.23	15.91	16.57	17.25	18.11	18.91	19.57	22.21	23.03	24.11

Artesian Resources Corporation

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)