ARTNAArtesian Resources Corporation
Is it safe?
Nothing alarming, nothing pristine: comfortable debt (A) and steady price behavior.
Investment-grade balance sheet. A rule of thumb on leverage, not a credit rating.
Relatively steady, low volatility. Worst drawdown -49% · now 9% below its 52-week high.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can ARTNA take a bad year?
Artesian Resources Corporation carries $175M of net debt at 4.05× EBITDA: a heavy load to carry through a bad year.
Net debt · as at Q2 2026 · over four years of earnings before interest, tax and depreciation, heavy
- Net debt / EBITDA
- 4.05×
Net debt / EBITDA · 4.35× a year ago · the load is coming down
- Cash runway
- 0.6 years
Cash runway · burning $4.5M a quarter at the current rate
- Annualised volatility
- 22%
Annualised volatility · about as steady as the market itself
Details›
- Total debtQ2 2026
- $185M
- Cash and short-term investments
- $9.8M
- Net debt
- $175M
- EBITDA, trailing twelve months
- $43M
- Operating profit, trailing twelve months
- $29M
- Debt / equity
- 0.72×
- Total debt / EBITDA
- 4.28×
- Annualised volatilitytwo years of daily moves
- 22%
- Worst drawdown on file
- −49%
- Below its 52-week high
- 9.5%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.
Utilities, Regulated Water
Ranks #7 of 9 by RyuScore