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Artesian Resources vs California Water Service: revenue, profit, margins and growth compared

Artesian Resources brought in $112.9M of revenue in fiscal 2025, California Water Service $963.7M in fiscal 2025. Revenue changed by +4.6% at Artesian Resources and +6.4% at California Water Service on the year before, so California Water Service grew faster. Artesian Resources kept 20.2% of its revenue as net profit, California Water Service 13.3%.

Side by side, latest fiscal year

ARTNACWT
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$112.9M$963.7M
Revenue growth+4.6%+6.4%
Net income$22.8M$128.2M
Net margin20.2%13.3%
Free cash flow-$18.5Mn/a
Free cash flow margin-16.4%n/a
Earnings per share (diluted)$2.21$2.15
Cash$52K$51.8M
Debt$176.4M$1.5B
Price to earnings14.921.2
Market value$339.7M$2.8B
Dividend yield3.74%2.72%
Rank by revenue in sector#103 of 125 · Utilities#84 of 125 · Utilities

Over the years

Revenue
ARTNA FY2018: $80.4MARTNA FY2019: $83.6MARTNA FY2020: $88.1MARTNA FY2021: $90.9MARTNA FY2022: $98.9MARTNA FY2023: $98.9MARTNA FY2024: $108MARTNA FY2025: $112.9MCWT FY2018: $674.7MCWT FY2019: $664.4MCWT FY2020: $697.6MCWT FY2021: $765.7MCWT FY2022: $772.6MCWT FY2023: $790.3MCWT FY2024: $905.6MCWT FY2025: $963.7MFY18FY19FY20FY21FY22FY23FY24FY25
ARTNA $112.9MCWT $963.7M
Net income
ARTNA FY2018: $14.3MARTNA FY2019: $14.9MARTNA FY2020: $16.8MARTNA FY2021: $16.8MARTNA FY2022: $18MARTNA FY2023: $16.7MARTNA FY2024: $20.4MARTNA FY2025: $22.8MCWT FY2018: $65.6MCWT FY2019: $63.1MCWT FY2020: $96.8MCWT FY2021: $101.1MCWT FY2022: $96MCWT FY2023: $51.9MCWT FY2024: $190.8MCWT FY2025: $128.2MFY18FY19FY20FY21FY22FY23FY24FY25
ARTNA $22.8MCWT $128.2M
Net margin
ARTNA FY2018: 17.8%ARTNA FY2019: 17.9%ARTNA FY2020: 19.1%ARTNA FY2021: 18.5%ARTNA FY2022: 18.2%ARTNA FY2023: 16.9%ARTNA FY2024: 18.9%ARTNA FY2025: 20.2%CWT FY2018: 9.7%CWT FY2019: 9.5%CWT FY2020: 13.9%CWT FY2021: 13.2%CWT FY2022: 12.4%CWT FY2023: 6.6%CWT FY2024: 21.1%CWT FY2025: 13.3%FY18FY19FY20FY21FY22FY23FY24FY25
ARTNA 20.2%CWT 13.3%
Revenue growth
ARTNA FY2019: +4.0%ARTNA FY2020: +5.4%ARTNA FY2021: +3.1%ARTNA FY2022: +8.8%ARTNA FY2023: -0.0%ARTNA FY2024: +9.2%ARTNA FY2025: +4.6%CWT FY2019: -1.5%CWT FY2020: +5.0%CWT FY2021: +9.8%CWT FY2022: +0.9%CWT FY2023: +2.3%CWT FY2024: +14.6%CWT FY2025: +6.4%FY19FY20FY21FY22FY23FY24FY25
ARTNA +4.6%CWT +6.4%
Free cash flow
ARTNA FY2018: -$19.9MARTNA FY2019: -$21.8MARTNA FY2020: -$13.9MARTNA FY2021: -$9.5MARTNA FY2022: -$24.2MARTNA FY2023: -$30.3MARTNA FY2024: -$9.1MARTNA FY2025: -$18.5MFY18FY19FY20FY21FY22FY23FY24FY25
ARTNA -$18.5MCWT

Fiscal years as each company reports them; the two may end in different months.

Questions about Artesian Resources and California Water Service

Which is bigger by revenue, Artesian Resources or California Water Service?

California Water Service is bigger by revenue: $963.7M in fiscal 2025, against $112.9M for Artesian Resources in fiscal 2025.

Which keeps more of its revenue as profit, Artesian Resources or California Water Service?

Artesian Resources had a net margin of 20.2% in fiscal 2025; California Water Service had 13.3% in fiscal 2025.

Which grew revenue faster, Artesian Resources or California Water Service?

In their latest fiscal years revenue changed by +4.6% at Artesian Resources and +6.4% at California Water Service.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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