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Stocks Comparison

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

Artesian Resources brought in $112.9M of revenue in fiscal 2025, Middlesex Water $194.7M in fiscal 2025. Revenue changed by +4.6% at Artesian Resources and +1.5% at Middlesex Water on the year before, so Artesian Resources grew faster. Artesian Resources kept 20.2% of its revenue as net profit, Middlesex Water 22.0%.

Side by side, latest fiscal year

ARTNAMSEX
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$112.9M$194.7M
Revenue growth+4.6%+1.5%
Net income$22.8M$42.8M
Net margin20.2%22.0%
Free cash flow-$18.5Mn/a
Free cash flow margin-16.4%n/a
Earnings per share (diluted)$2.21$2.36
Cash$52K$2.8M
Debt$176.4M$386.7M
Price to earnings15.324.9
Market value$348.4M$1.1B
Dividend yield3.65%2.35%
Rank by revenue in sector#103 of 126 · Utilities#99 of 126 · 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: $112.9MMSEX FY2018: $138.1MMSEX FY2019: $134.6MMSEX FY2020: $141.6MMSEX FY2021: $143.1MMSEX FY2022: $162.4MMSEX FY2023: $166.3MMSEX FY2024: $191.9MMSEX FY2025: $194.7MFY18FY19FY20FY21FY22FY23FY24FY25
ARTNA $112.9MMSEX $194.7M
Net income
ARTNA FY2018: $14.3MARTNA FY2019: $14.9MARTNA FY2020: $16.8MARTNA FY2021: $16.8MARTNA FY2022: $18MARTNA FY2023: $16.7MARTNA FY2024: $20.4MARTNA FY2025: $22.8MMSEX FY2018: $32.5MMSEX FY2019: $33.9MMSEX FY2020: $38.4MMSEX FY2021: $36.5MMSEX FY2022: $42.4MMSEX FY2023: $31.5MMSEX FY2024: $44.4MMSEX FY2025: $42.8MFY18FY19FY20FY21FY22FY23FY24FY25
ARTNA $22.8MMSEX $42.8M
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%MSEX FY2018: 23.5%MSEX FY2019: 25.2%MSEX FY2020: 27.1%MSEX FY2021: 25.5%MSEX FY2022: 26.1%MSEX FY2023: 19.0%MSEX FY2024: 23.1%MSEX FY2025: 22.0%FY18FY19FY20FY21FY22FY23FY24FY25
ARTNA 20.2%MSEX 22.0%
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%MSEX FY2019: -2.5%MSEX FY2020: +5.2%MSEX FY2021: +1.1%MSEX FY2022: +13.5%MSEX FY2023: +2.4%MSEX FY2024: +15.4%MSEX FY2025: +1.5%FY19FY20FY21FY22FY23FY24FY25
ARTNA +4.6%MSEX +1.5%
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: -$18.5MMSEX FY2020: -$52.3MMSEX FY2021: -$46.4MMSEX FY2022: -$30MMSEX FY2023: -$37.4MMSEX FY2024: -$15.9MFY18FY19FY20FY21FY22FY23FY24FY25
ARTNA -$18.5MMSEX -$15.9M

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

Questions about Artesian Resources and Middlesex Water

Which is bigger by revenue, Artesian Resources or Middlesex Water?

Middlesex Water is bigger by revenue: $194.7M in fiscal 2025, against $112.9M for Artesian Resources in fiscal 2025.

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

Artesian Resources had a net margin of 20.2% in fiscal 2025; Middlesex Water had 22.0% in fiscal 2025.

Which grew revenue faster, Artesian Resources or Middlesex Water?

In their latest fiscal years revenue changed by +4.6% at Artesian Resources and +1.5% at Middlesex Water.

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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