ARTESIAN RESOURCES CORPORATION
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $112.9M | $108.0M | $98.9M | $98.9M | $90.9M | $88.1M | $83.6M | $80.4M |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | — | — | — | — | — | — | — | — |
| Operating Income | $27.8M | $26.2M | $22.4M | $23.9M | $22.3M | $22.3M | $19.9M | $19.0M |
| Operating Margin | 24.6% | 24.2% | 22.7% | 24.2% | 24.5% | 25.3% | 23.8% | 23.6% |
| Interest Expense | $8.7M | $8.8M | $9.2M | $8.5M | $7.6M | $7.6M | $7.0M | $6.3M |
| Pretax Income | — | — | — | — | — | $22.5M | $20.1M | $19.3M |
| Income Tax Expense | $7.8M | $7.3M | $6.3M | $5.9M | $5.7M | $5.7M | $5.2M | $5.0M |
| Net Income | $22.8M | $20.4M | $16.7M | $18.0M | $16.8M | $16.8M | $14.9M | $14.3M |
| Net Margin | 20.2% | 18.9% | 16.9% | 18.2% | 18.5% | 19.1% | 17.9% | 17.8% |
| EPS (Basic) | $2.21 | $1.98 | $1.67 | $1.90 | $1.79 | $1.80 | $1.61 | $1.55 |
| EPS (Diluted) | $2.21 | $1.98 | $1.67 | $1.90 | $1.79 | $1.79 | $1.60 | $1.54 |
| Shares Outstanding (Basic) | 10.3M | 10.3M | 10.0M | 9.5M | 9.4M | 9.3M | 9.3M | 9.2M |
| Shares Outstanding (Diluted) | 10.3M | 10.3M | 10.0M | 9.5M | 9.4M | 9.4M | 9.3M | 9.3M |
| Dividends Per Share | $1.23 | $1.18 | $1.14 | $1.09 | $1.05 | $1.01 | $0.98 | $0.95 |