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Company Description

Contact Info

664 Churchmans Road

Newark, DE 19702

United States

Phone: 302-453-6900


Artesian Resources Corporation, through its subsidiaries, provides water, wastewater and other services on the Delmarva Peninsula. The company distributes and sells water, including water for public and private fire protection, to residential, commercial, industrial, municipal and utility customers throughout the states of Delaware, Maryland and Pennsylvania. The company provides wastewater services to customers in Delaware. In addition, the company provides contract water and wastewater operations, and water and sewer Service Line Protection Plans. The company’s five regulated public utilities include Artesian Water Company, Inc. (Artesian Water); Artesian Water Pennsylvania, Inc. (Artesian Water Pennsylvania); Artesian Water Maryland, Inc. (Artesian Water Maryland); Artesian Wastewater Management, Inc. (Artesian Wastewater); and Artesian Wastewater Maryland, Inc. (Artesian Wastewater Maryland). Its three non-regulated subsidiaries include Artesian Utility Development, Inc. (Artesian Utility); Artesian Development Corporation (Artesian Development); and Artesian Consulting Engineers, Inc. (Artesian Consulting Engineers). The company holds Certificates of Public Convenience and Necessity for approximately 282 square miles of water service territory and approximately 25 square miles of wastewater service territory, most of which is in Delaware and some in Maryland and Pennsylvania. The company’s major connected regional water system, consisting of approximately 141 square miles and 74,000 customers, is located in northern New Castle County and portions of southern New Castle County, Delaware. Subsidiaries Artesian Water Artesian Water, the company’s principal subsidiary, is the primary public water utility in the state of Delaware. Artesian Water distributes and sells water to residential, commercial, industrial, governmental, municipal and utility customers throughout the state of Delaware. In addition, Artesian Water provides services to other water utilities, including operations and billing functions, and also has contract operation agreements with private and municipal water providers. The company also provides water for public and private fire protection to customers in its service territories. Artesian Water Maryland Artesian Water Maryland distributes and sells water to residential, commercial, industrial and municipal customers in Cecil County, Maryland. Artesian Water Pennsylvania Artesian Water Pennsylvania provides water service to a residential community in Chester County. Artesian Wastewater Artesian Wastewater is a regulated entity that owns wastewater collection and treatment infrastructure and provides wastewater services to customers in Delaware as a regulated public wastewater service company. As of December 31, 2015, Artesian Wastewater owned and operated four wastewater treatment facilities, which are capable of treating approximately 730,000 gallons per day and could be expanded to treat approximately 1.6 million gallons per day (mgd). Artesian Wastewater Maryland Artesian Wastewater Maryland is a regulated wastewater entity in the state of Maryland. Artesian Wastewater Maryland is able to provide public wastewater services to customers in the state of Maryland. It is not providing wastewater services in Maryland. Artesian Utility Artesian Utility designs and builds water and wastewater infrastructure and provides contract water and wastewater services on the Delmarva Peninsula. Artesian Utility also evaluates land parcels, provides recommendations to developers on the size of water or wastewater facilities and the type of technology that should be used for treatment at such facilities, and operates water and wastewater facilities in Delaware for municipal and governmental organizations. Artesian Utility also contracts with developers for design and construction of wastewater facilities within the Delmarva Peninsula, using different technologies for treatment of wastewater at each facility. In addition, Artesian Utility operates the Water Service Line Protection Plan, or WSLP Plan, and the Sewer Service Line Protection Plan, or SSLP Plan. In November 201

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Valuation ARTNA Industry Range
Price/Earnings 23.9x
Price/Sales 3.7x
Price/Book 2.1x
Price/Cash Flow 12.3x
TEV/Sales 1.9x

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