Free Trial
→ The 1934 playbook (From American Alternative) (Ad)tc pixel Free ARTNA Stock Alerts

Artesian Resources (ARTNA) Financials

Artesian Resources logo
$32.14 +0.10 (+0.31%)
As of 03:30 PM Eastern
This is a fair market value price provided by Massive. Learn more.
Compare
Annual Income Statements for Artesian Resources

Annual Income Statements for Artesian Resources

This table shows Artesian Resources' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 18 17 20
Consolidated Net Income / (Loss)		 18 17 20
Net Income / (Loss) Continuing Operations		 27 26 29
Total Pre-Tax Income 		27 26 29
Total Operating Income		 24 22 26
Total Gross Profit		 99 99 108
Total Revenue		 99 99 108
Operating Revenue		 99 99 108
Total Cost of Revenue		 0.00 0.00 0.00
Total Operating Expenses		 75 76 82
Selling, General & Admin Expense		 6.85 4.43 4.74
Depreciation Expense		 13 13 14
Other Operating Expenses / (Income)		 56 59 63
Total Other Income / (Expense), net		 2.59 3.41 3.02
Other Income / (Expense), net		 2.59 3.41 3.02
Other Adjustments to Consolidated Net Income / (Loss)		 -8.50 -9.16 -8.78
Basic Earnings per Share		 $1.90 $1.67 $1.98
Weighted Average Basic Shares Outstanding		 9.46M 10.02M 10.29M
Diluted Earnings per Share		 $1.90 $1.67 $1.98
Weighted Average Diluted Shares Outstanding		 9.48M 10.02M 10.30M
Weighted Average Basic & Diluted Shares Outstanding		 9.50M 10.29M 10.30M
Cash Dividends to Common per Share		 $1.09 $1.14 $1.18

Quarterly Income Statements for Artesian Resources

This table shows Artesian Resources' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 6.14 2.33 3.71 4.44 5.07 3.48 4.41 5.33 6.81 3.85
Consolidated Net Income / (Loss)		 6.14 2.33 3.71 4.44 5.07 3.48 4.41 5.33 6.81 3.85
Net Income / (Loss) Continuing Operations		 8.37 6.51 6.12 6.78 7.27 5.68 6.58 7.50 9.01 6.09
Total Pre-Tax Income 		8.37 7.96 6.12 6.78 7.27 5.68 6.58 7.50 9.01 6.09
Total Operating Income		 8.08 4.24 4.06 6.21 6.66 5.52 4.72 7.20 8.59 5.64
Total Gross Profit		 27 25 22 25 27 25 25 27 29 27
Total Revenue		 27 25 22 25 27 25 25 27 29 27
Operating Revenue		 27 25 22 25 27 25 25 27 29 27
Total Operating Expenses		 19 21 18 19 20 19 20 20 21 21
Selling, General & Admin Expense		 1.57 2.43 1.09 1.12 1.12 1.10 1.12 1.15 1.21 1.27
Depreciation Expense		 3.21 3.27 3.22 3.22 3.44 3.45 3.47 3.43 3.29 3.45
Other Operating Expenses / (Income)		 14 15 14 15 15 14 15 16 16 16
Total Other Income / (Expense), net		 0.29 3.72 2.06 0.58 0.61 0.16 1.86 0.30 0.42 0.45
Other Income / (Expense), net		 0.29 1.83 2.06 0.58 0.61 0.16 1.86 0.30 0.42 0.45
Other Adjustments to Consolidated Net Income / (Loss)		 -2.23 - -2.42 -2.34 -2.20 -2.20 -2.17 -2.18 -2.19 -2.24
Basic Earnings per Share		 $0.65 $0.24 $0.39 $0.44 $0.49 $0.35 $0.43 $0.52 $0.66 $0.37
Weighted Average Basic Shares Outstanding		 9.48M 9.46M 9.50M 10.00M 10.28M 10.02M 10.29M 10.29M 10.30M 10.29M
Diluted Earnings per Share		 $0.65 $0.25 $0.39 $0.44 $0.49 $0.35 $0.43 $0.52 $0.66 $0.37
Weighted Average Diluted Shares Outstanding		 9.49M 9.48M 9.51M 10.00M 10.28M 10.02M 10.29M 10.30M 10.30M 10.30M
Weighted Average Basic & Diluted Shares Outstanding		 9.49M 9.50M 9.51M 10.28M 10.28M 10.29M 10.29M 10.30M 10.30M 10.30M
Cash Dividends to Common per Share		 $0.27 $0.28 $0.28 $0.28 $0.28 $0.29 $0.29 $0.30 $0.30 $0.30

Annual Cash Flow Statements for Artesian Resources

This table details how cash moves in and out of Artesian Resources' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 1.22 1.20 -1.36
Net Cash From Operating Activities		 24 32 37
Net Cash From Continuing Operating Activities		 24 32 37
Net Income / (Loss) Continuing Operations		 18 17 20
Consolidated Net Income / (Loss)		 18 17 20
Depreciation Expense		 13 13 14
Amortization Expense		 0.35 0.36 0.35
Non-Cash Adjustments To Reconcile Net Income		 -0.67 -1.25 -0.68
Changes in Operating Assets and Liabilities, net		 -6.03 2.71 3.13
Net Cash From Investing Activities		 -55 -62 -45
Net Cash From Continuing Investing Activities		 -55 -62 -45
Purchase of Property, Plant & Equipment		 -48 -62 -46
Acquisitions		 -6.34 0.00 0.00
Sale of Property, Plant & Equipment		 0.07 0.10 0.62
Net Cash From Financing Activities		 32 31 7.14
Net Cash From Continuing Financing Activities		 32 31 7.14
Repayment of Debt		 -43 -25 -2.24
Repurchase of Common Equity		 0.00 -0.32 0.00
Payment of Dividends		 -10 -11 -12
Issuance of Debt		 66 8.88 0.76
Issuance of Common Equity		 2.09 37 0.35
Other Financing Activities, net		 16 23 20
Cash Interest Paid		 8.43 7.52 9.77
Cash Income Taxes Paid		 3.48 3.59 5.73

Quarterly Cash Flow Statements for Artesian Resources

This table details how cash moves in and out of Artesian Resources' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Change in Cash & Equivalents		 -0.11 1.20 -1.19 5.81 0.54 -3.95 7.00 -3.25 4.45 -9.56
Net Cash From Operating Activities		 11 -0.79 11 4.71 8.14 8.49 13 6.87 11 6.70
Net Cash From Continuing Operating Activities		 11 -0.79 11 4.71 8.14 8.49 13 6.87 11 6.70
Net Income / (Loss) Continuing Operations		 6.14 2.33 3.71 4.44 5.07 3.48 4.41 5.33 6.81 3.85
Consolidated Net Income / (Loss)		 6.14 2.33 3.71 4.44 5.07 3.48 4.41 5.33 6.81 3.85
Depreciation Expense		 3.21 3.27 3.22 3.22 3.44 3.45 3.47 3.42 3.29 3.45
Amortization Expense		 - - 0.09 0.09 0.09 0.09 0.14 0.04 0.09 0.09
Non-Cash Adjustments To Reconcile Net Income		 -0.05 0.32 0.10 -0.54 -0.69 -0.12 -0.07 -1.03 0.31 0.11
Changes in Operating Assets and Liabilities, net		 2.16 -7.06 3.39 -2.49 0.22 1.59 4.65 -0.90 0.16 -0.79
Net Cash From Investing Activities		 -13 -12 -17 -16 -17 -13 -8.32 -9.44 -13 -15
Net Cash From Continuing Investing Activities		 -13 -12 -17 -16 -17 -13 -8.32 -9.44 -13 -15
Purchase of Property, Plant & Equipment		 -13 -12 -17 -16 -17 -13 -8.92 -9.45 -13 -15
Sale of Property, Plant & Equipment		 0.01 0.02 0.05 0.01 0.01 0.02 0.60 0.01 0.01 0.00
Net Cash From Financing Activities		 1.81 14 5.04 17 8.91 0.87 2.73 -0.68 6.34 -1.25
Net Cash From Continuing Financing Activities		 1.81 14 5.04 17 8.91 0.87 2.73 -0.68 6.34 -1.25
Repayment of Debt		 -0.38 -41 -1.99 -23 -0.35 -0.50 -0.39 -0.83 -0.50 -0.52
Payment of Dividends		 -2.58 -2.64 -2.65 -2.54 -3.08 -2.98 -2.98 -3.04 -3.04 -3.10
Issuance of Debt		 0.44 53 4.32 0.73 5.24 -1.41 0.80 0.02 3.84 -3.91
Issuance of Common Equity		 0.77 0.39 0.09 36 0.27 0.23 0.09 0.09 0.08 0.09
Other Financing Activities, net		 3.56 4.86 5.26 4.89 6.84 5.53 5.20 3.08 5.96 6.19
Cash Interest Paid		 1.76 2.67 1.97 2.88 1.00 1.67 2.51 1.68 3.00 2.58
Cash Income Taxes Paid		 0.69 2.05 0.01 2.07 1.40 0.11 0.01 1.98 2.47 1.28

Annual Balance Sheets for Artesian Resources

This table presents Artesian Resources' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Total Assets		 720 767 799
Total Current Assets		 28 31 25
Cash & Equivalents		 1.31 2.51 1.15
Accounts Receivable		 15 15 13
Inventories, net		 4.70 5.98 4.28
Prepaid Expenses		 2.88 3.30 3.09
Current Deferred & Refundable Income Taxes		 3.82 4.07 2.81
Plant, Property, & Equipment, net		 3.74 3.69 3.60
Total Noncurrent Assets		 688 733 770
Goodwill		 1.94 1.94 1.94
Other Noncurrent Operating Assets		 686 731 769
Total Liabilities & Shareholders' Equity		 720 767 799
Total Liabilities		 532 536 559
Total Current Liabilities		 44 22 26
Short-Term Debt		 22 2.24 2.17
Accounts Payable		 11 9.70 11
Accrued Expenses		 4.25 3.52 5.34
Customer Deposits		 - 2.98 3.35
Current Deferred & Payable Income Tax Liabilities		 0.01 0.00 0.50
Other Current Liabilities		 3.23 1.70 2.09
Other Current Nonoperating Liabilities		 0.99 2.28 0.93
Total Noncurrent Liabilities		 488 514 534
Long-Term Debt		 176 178 177
Noncurrent Deferred Revenue		 3.69 2.80 1.58
Noncurrent Deferred & Payable Income Tax Liabilities		 55 59 53
Other Noncurrent Operating Liabilities		 253 274 303
Commitments & Contingencies		 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 188 230 239
Total Preferred & Common Equity		 188 230 239
Preferred Stock		 0.00 0.00 0.00
Total Common Equity		 188 230 239
Common Stock		 117 154 154
Retained Earnings		 71 77 85

Quarterly Balance Sheets for Artesian Resources

This table presents Artesian Resources' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024
Total Assets		 703 726 750 762 775 783 796
Total Current Assets		 23 22 30 34 31 29 34
Cash & Equivalents		 0.11 0.12 5.92 6.46 9.50 6.25 11
Accounts Receivable		 14 12 14 12 12 14 13
Inventories, net		 2.51 5.26 5.79 5.49 4.85 4.76 4.46
Prepaid Expenses		 2.72 2.90 3.83 3.29 2.89 3.47 3.18
Current Deferred & Refundable Income Taxes		 3.85 1.82 1.00 6.28 1.19 0.17 3.48
Plant, Property, & Equipment, net		 3.76 3.73 3.71 3.71 3.64 3.62 3.61
Total Noncurrent Assets		 676 700 716 724 741 750 758
Goodwill		 2.98 1.94 1.94 1.94 1.94 1.94 1.94
Other Noncurrent Operating Assets		 673 699 714 722 739 748 756
Total Liabilities & Shareholders' Equity		 703 726 750 762 775 783 796
Total Liabilities		 515 537 523 532 543 549 558
Total Current Liabilities		 33 44 25 27 22 22 28
Short-Term Debt		 11 24 2.10 2.22 2.21 2.23 2.33
Accounts Payable		 9.08 8.10 9.22 8.43 7.88 7.80 9.65
Accrued Expenses		 4.14 4.06 6.16 4.64 4.34 4.87 5.57
Customer Deposits		 2.48 2.51 2.57 2.75 2.93 - 3.21
Dividends Payable		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Current Deferred & Payable Income Tax Liabilities		 1.10 0.62 0.19 0.03 0.83 0.65 0.33
Other Current Liabilities		 3.29 3.11 3.62 7.28 1.70 1.75 5.59
Other Current Nonoperating Liabilities		 1.36 1.44 0.90 1.83 1.84 2.25 1.36
Total Noncurrent Liabilities		 482 493 498 505 522 526 530
Long-Term Debt		 174 176 176 176 178 177 177
Noncurrent Deferred Revenue		 3.96 3.63 3.49 3.26 2.77 2.59 2.39
Noncurrent Deferred & Payable Income Tax Liabilities		 55 55 56 59 59 51 53
Other Noncurrent Operating Liabilities		 249 258 263 267 282 295 298
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 188 189 227 230 232 234 238
Total Preferred & Common Equity		 188 189 227 230 232 234 238
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 188 189 227 230 232 234 238
Common Stock		 116 117 153 153 154 154 154
Retained Earnings		 72 72 74 76 78 80 84

Annual Metrics And Ratios for Artesian Resources

This table displays calculated financial ratios and metrics derived from Artesian Resources' official financial filings.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - -
Revenue Growth		 8.85% -0.04% 9.20%
EBITDA Growth		 7.69% 0.18% 9.13%
EBIT Growth		 8.52% -2.43% 12.83%
NOPAT Growth		 7.23% -6.11% 16.51%
Net Income Growth		 6.96% -7.22% 22.13%
EPS Growth		 6.15% -12.11% 18.56%
Operating Cash Flow Growth		 -22.50% 31.26% 15.61%
Free Cash Flow Firm Growth		 -184.59% 74.29% 772.45%
Invested Capital Growth		 9.99% 6.57% 1.69%
Revenue Q/Q Growth		 2.37% -0.58% 2.18%
EBITDA Q/Q Growth		 1.02% 0.37% 0.96%
EBIT Q/Q Growth		 -1.12% -1.49% 1.44%
NOPAT Q/Q Growth		 -2.56% 6.04% 0.49%
Net Income Q/Q Growth		 20.56% 7.43% 1.82%
EPS Q/Q Growth		 -3.55% 6.37% 1.02%
Operating Cash Flow Q/Q Growth		 -33.85% 41.09% -4.63%
Free Cash Flow Firm Q/Q Growth		 -3,572.50% 60.92% -8.08%
Invested Capital Q/Q Growth		 2.89% 1.90% 2.32%
Profitability Metrics		 - - -
Gross Margin		 100.00% 100.00% 100.00%
EBITDA Margin		 39.91% 40.00% 39.98%
Operating Margin		 24.17% 22.70% 24.22%
EBIT Margin		 26.80% 26.15% 27.02%
Profit (Net Income) Margin		 18.20% 16.89% 18.89%
Tax Burden Percent		 67.92% 64.59% 69.91%
Interest Burden Percent		 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 6.50% 5.64% 6.31%
ROIC Less NNEP Spread (ROIC-NNEP)		 3.30% 2.60% 3.10%
Return on Net Nonoperating Assets (RNNOA)		 3.34% 2.34% 2.37%
Return on Equity (ROE)		 9.84% 7.98% 8.69%
Cash Return on Invested Capital (CROIC)		 -3.02% -0.72% 4.64%
Operating Return on Assets (OROA)		 3.94% 3.48% 3.73%
Return on Assets (ROA)		 2.68% 2.25% 2.61%
Return on Common Equity (ROCE)		 9.84% 7.98% 8.69%
Return on Equity Simple (ROE_SIMPLE)		 9.58% 7.25% 8.53%
Net Operating Profit after Tax (NOPAT)		 24 22 26
NOPAT Margin		 24.17% 22.70% 24.22%
Net Nonoperating Expense Percent (NNEP)		 3.19% 3.04% 3.21%
Return On Investment Capital (ROIC_SIMPLE)		 6.20% 5.46% 6.26%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 6.93% 4.48% 4.39%
R&D to Revenue		 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 75.83% 77.30% 75.78%
Earnings before Interest and Taxes (EBIT)		 27 26 29
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 39 40 43
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 2.77 1.77 1.35
Price to Tangible Book Value (P/TBV)		 2.80 1.79 1.36
Price to Revenue (P/Rev)		 5.27 4.13 2.99
Price to Earnings (P/E)		 28.96 24.46 15.81
Dividend Yield		 2.50% 2.86% 3.77%
Earnings Yield		 3.45% 4.09% 6.32%
Enterprise Value to Invested Capital (EV/IC)		 1.86 1.43 1.20
Enterprise Value to Revenue (EV/Rev)		 7.26 5.93 4.63
Enterprise Value to EBITDA (EV/EBITDA)		 18.18 14.83 11.59
Enterprise Value to EBIT (EV/EBIT)		 27.08 22.68 17.14
Enterprise Value to NOPAT (EV/NOPAT)		 30.02 26.13 19.12
Enterprise Value to Operating Cash Flow (EV/OCF)		 29.58 18.41 13.58
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 26.03
Leverage & Solvency		 - - -
Debt to Equity		 1.05 0.78 0.75
Long-Term Debt to Equity		 0.93 0.77 0.74
Financial Leverage		 1.01 0.90 0.76
Leverage Ratio		 3.67 3.55 3.33
Compound Leverage Factor		 3.67 3.55 3.33
Debt to Total Capital		 51.28% 43.93% 42.76%
Short-Term Debt to Total Capital		 5.75% 0.54% 0.52%
Long-Term Debt to Total Capital		 45.53% 43.39% 42.24%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00%
Common Equity to Total Capital		 48.72% 56.07% 57.24%
Debt to EBITDA		 5.01 4.57 4.14
Net Debt to EBITDA		 4.98 4.50 4.11
Long-Term Debt to EBITDA		 4.45 4.51 4.09
Debt to NOPAT		 8.27 8.04 6.83
Net Debt to NOPAT		 8.22 7.93 6.79
Long-Term Debt to NOPAT		 7.35 7.94 6.75
Altman Z-Score		 0.96 0.85 0.75
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00%
Liquidity Ratios		 - - -
Current Ratio		 0.63 1.37 0.96
Quick Ratio		 0.37 0.77 0.56
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 -11 -2.86 19
Operating Cash Flow to CapEx		 50.12% 51.31% 81.25%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00
Efficiency Ratios		 - - -
Asset Turnover		 0.15 0.13 0.14
Accounts Receivable Turnover		 8.06 6.62 7.72
Inventory Turnover		 0.00 0.00 0.00
Fixed Asset Turnover		 26.40 26.60 29.59
Accounts Payable Turnover		 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 45.29 55.12 47.28
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 45.29 55.12 47.28
Capital & Investment Metrics		 - - -
Invested Capital		 385 411 418
Invested Capital Turnover		 0.27 0.25 0.26
Increase / (Decrease) in Invested Capital		 35 25 6.94
Enterprise Value (EV)		 718 586 500
Market Capitalization		 521 408 322
Book Value per Share		 $19.80 $22.42 $23.23
Tangible Book Value per Share		 $19.60 $22.23 $23.04
Total Capital		 386 411 418
Total Debt		 198 181 179
Total Long-Term Debt		 176 178 177
Net Debt		 196 178 178
Capital Expenditures (CapEx)		 48 62 45
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 4.60 7.93 -0.05
Debt-free Net Working Capital (DFNWC)		 5.91 10 1.10
Net Working Capital (NWC)		 -16 8.20 -1.07
Net Nonoperating Expense (NNE)		 5.91 5.75 5.76
Net Nonoperating Obligations (NNO)		 197 180 178
Total Depreciation and Amortization (D&A)		 13 14 14
Debt-free, Cash-free Net Working Capital to Revenue		 4.65% 8.02% -0.04%
Debt-free Net Working Capital to Revenue		 5.98% 10.56% 1.02%
Net Working Capital to Revenue		 -16.45% 8.30% -0.99%
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $1.90 $1.67 $1.98
Adjusted Weighted Average Basic Shares Outstanding		 9.46M 10.02M 10.29M
Adjusted Diluted Earnings per Share		 $1.90 $1.67 $1.98
Adjusted Weighted Average Diluted Shares Outstanding		 9.48M 10.02M 10.30M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 9.50M 10.29M 10.30M
Normalized Net Operating Profit after Tax (NOPAT)		 17 16 18
Normalized NOPAT Margin		 16.92% 15.89% 16.96%
Pre Tax Income Margin		 26.80% 26.15% 27.02%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00
Payout Ratios		 - - -
Dividend Payout Ratio		 57.33% 67.32% 59.66%
Augmented Payout Ratio		 57.33% 69.22% 59.66%

Quarterly Metrics And Ratios for Artesian Resources

This table displays calculated financial ratios and metrics derived from Artesian Resources' official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 6.67% 10.04% 1.39% 0.96% -0.05% -2.28% 9.11% 8.57% 9.68% 9.39%
EBITDA Growth		 16.59% 0.46% 17.81% -0.99% -6.73% -1.29% 7.93% 8.65% 14.61% 4.46%
EBIT Growth		 20.21% -4.71% 24.33% -4.91% -13.15% -6.46% 7.45% 10.55% 23.83% 7.28%
NOPAT Growth		 17.16% -12.92% -14.40% -9.28% -17.58% 30.18% 16.23% 15.95% 28.96% 2.30%
Net Income Growth		 -11.80% 412.50% -17.35% -11.95% -17.46% 49.68% 19.06% 19.85% 34.35% 10.49%
EPS Growth		 20.37% -21.88% -17.02% -16.98% -24.62% 40.00% 10.26% 18.18% 34.69% 5.71%
Operating Cash Flow Growth		 94.11% -106.75% -11.09% 166.42% -28.99% 1,181.66% 19.85% 45.66% 31.00% -21.07%
Free Cash Flow Firm Growth		 -68.68% -617.48% -254.24% -43.21% -35.23% 35.72% 70.59% 87.75% 115.89% 93.46%
Invested Capital Growth		 6.91% 9.99% 10.51% 8.29% 7.60% 6.57% 3.70% 2.55% 1.27% 1.69%
Revenue Q/Q Growth		 6.28% -5.51% -10.44% 12.25% 5.22% -7.62% 0.00% 11.70% 6.30% -7.86%
EBITDA Q/Q Growth		 13.69% -19.39% 1.04% 6.92% 7.10% -14.68% 11.55% 7.64% 12.96% -22.23%
EBIT Q/Q Growth		 17.38% -27.54% 0.89% 10.81% 7.21% -21.96% 15.89% 14.02% 20.08% -32.39%
NOPAT Q/Q Growth		 18.11% -47.56% -4.20% 52.91% 7.30% -17.17% -14.46% 52.53% 19.34% -34.30%
Net Income Q/Q Growth		 21.76% -62.16% 59.35% 19.92% 14.13% -31.37% 26.75% 20.72% 27.94% -43.56%
EPS Q/Q Growth		 22.64% -61.54% 56.00% 12.82% 11.36% -28.57% 22.86% 20.93% 26.92% -43.94%
Operating Cash Flow Q/Q Growth		 547.94% -106.85% 1,438.60% -55.15% 72.69% 4.32% 48.32% -45.49% 55.31% -37.14%
Free Cash Flow Firm Q/Q Growth		 5.33% -90.79% -7.42% 26.19% 10.61% 9.31% 50.85% 69.26% 215.96% -137.36%
Invested Capital Q/Q Growth		 1.42% 2.89% 1.30% 2.44% 0.78% 1.90% -1.42% 1.30% -0.47% 2.32%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 43.58% 37.18% 41.94% 39.95% 40.66% 37.56% 41.49% 39.98% 42.49% 35.86%
Operating Margin		 30.40% 16.87% 18.05% 24.59% 25.07% 22.48% 19.23% 26.25% 29.48% 21.02%
EBIT Margin		 31.50% 24.16% 27.21% 26.87% 27.37% 23.12% 26.80% 27.36% 30.90% 22.68%
Profit (Net Income) Margin		 23.11% 9.26% 16.47% 17.60% 19.09% 14.18% 17.97% 19.42% 23.38% 14.32%
Tax Burden Percent		 73.37% 29.23% 60.52% 65.49% 69.72% 61.31% 67.06% 71.00% 75.65% 63.15%
Interest Burden Percent		 100.00% 131.10% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 8.10% 4.54% 4.81% 6.36% 6.41% 5.58% 4.88% 6.68% 7.68% 5.48%
ROIC Less NNEP Spread (ROIC-NNEP)		 7.03% 3.50% 4.63% 5.38% 5.53% 4.50% 4.71% 5.61% 6.64% 4.48%
Return on Net Nonoperating Assets (RNNOA)		 7.03% 3.54% 4.68% 4.76% 4.77% 4.07% 4.19% 4.23% 4.87% 3.42%
Return on Equity (ROE)		 15.14% 8.07% 9.49% 11.11% 11.18% 9.65% 9.07% 10.91% 12.55% 8.90%
Cash Return on Invested Capital (CROIC)		 0.09% -3.02% -3.74% -2.09% -1.88% -0.72% 2.18% 3.43% 5.15% 4.64%
Operating Return on Assets (OROA)		 4.61% 3.55% 3.92% 3.75% 3.72% 3.08% 3.60% 3.68% 4.19% 3.13%
Return on Assets (ROA)		 3.39% 1.36% 2.37% 2.46% 2.59% 1.89% 2.42% 2.61% 3.17% 1.98%
Return on Common Equity (ROCE)		 15.14% 8.07% 9.49% 11.11% 11.18% 9.65% 9.07% 10.91% 12.55% 8.90%
Return on Equity Simple (ROE_SIMPLE)		 7.95% 0.00% 9.10% 7.31% 6.77% 0.00% 7.50% 7.80% 8.40% 0.00%
Net Operating Profit after Tax (NOPAT)		 8.08 4.24 4.06 6.21 6.66 5.52 4.72 7.20 8.59 5.64
NOPAT Margin		 30.40% 16.87% 18.05% 24.59% 25.07% 22.48% 19.23% 26.25% 29.48% 21.02%
Net Nonoperating Expense Percent (NNEP)		 1.07% 1.03% 0.19% 0.98% 0.88% 1.08% 0.16% 1.08% 1.04% 1.00%
Return On Investment Capital (ROIC_SIMPLE)		 - 1.10% - - - 1.34% - - - 1.35%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 5.91% 9.68% 4.82% 4.44% 4.22% 4.48% 4.55% 4.18% 4.16% 4.73%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 69.60% 83.13% 81.95% 75.41% 74.93% 77.52% 80.77% 73.75% 70.52% 78.98%
Earnings before Interest and Taxes (EBIT)		 8.37 6.07 6.12 6.78 7.27 5.68 6.58 7.50 9.01 6.09
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 12 9.34 9.44 10 11 9.22 10 11 12 9.63
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 2.28 2.77 2.67 1.91 1.82 1.77 1.62 1.53 1.61 1.35
Price to Tangible Book Value (P/TBV)		 2.32 2.80 2.70 1.92 1.84 1.79 1.63 1.54 1.62 1.36
Price to Revenue (P/Rev)		 4.44 5.27 5.09 4.35 4.21 4.13 3.73 3.48 3.62 2.99
Price to Earnings (P/E)		 22.91 28.96 29.32 26.06 26.93 24.46 21.60 19.62 19.11 15.81
Dividend Yield		 2.38% 2.50% 2.60% 3.06% 3.44% 2.86% 3.14% 3.32% 3.15% 3.77%
Earnings Yield		 4.36% 3.45% 3.41% 3.84% 3.71% 4.09% 4.63% 5.10% 5.23% 6.32%
Enterprise Value to Invested Capital (EV/IC)		 1.64 1.86 1.80 1.51 1.46 1.43 1.35 1.30 1.35 1.20
Enterprise Value to Revenue (EV/Rev)		 6.36 7.26 7.10 6.08 5.94 5.93 5.42 5.16 5.22 4.63
Enterprise Value to EBITDA (EV/EBITDA)		 15.73 18.18 17.42 15.02 14.98 14.83 13.58 12.93 12.90 11.59
Enterprise Value to EBIT (EV/EBIT)		 22.93 27.08 25.44 22.12 22.49 22.68 20.79 19.69 19.17 17.14
Enterprise Value to NOPAT (EV/NOPAT)		 25.05 30.02 30.34 26.78 27.88 26.13 23.68 22.09 21.18 19.12
Enterprise Value to Operating Cash Flow (EV/OCF)		 16.75 29.58 30.70 23.35 26.15 18.41 16.12 14.75 14.28 13.58
Enterprise Value to Free Cash Flow (EV/FCFF)		 1,920.39 0.00 0.00 0.00 0.00 0.00 63.15 38.27 26.38 26.03
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.99 1.05 1.06 0.78 0.78 0.78 0.78 0.77 0.75 0.75
Long-Term Debt to Equity		 0.93 0.93 0.93 0.77 0.77 0.77 0.77 0.76 0.74 0.74
Financial Leverage		 1.00 1.01 1.01 0.88 0.86 0.90 0.89 0.75 0.73 0.76
Leverage Ratio		 3.64 3.67 3.73 3.49 3.51 3.55 3.56 3.32 3.33 3.33
Compound Leverage Factor		 3.64 4.82 3.73 3.49 3.51 3.55 3.56 3.32 3.33 3.33
Debt to Total Capital		 49.68% 51.28% 51.39% 43.88% 43.68% 43.93% 43.77% 43.40% 42.92% 42.76%
Short-Term Debt to Total Capital		 3.06% 5.75% 6.09% 0.52% 0.54% 0.54% 0.54% 0.54% 0.56% 0.52%
Long-Term Debt to Total Capital		 46.62% 45.53% 45.30% 43.36% 43.14% 43.39% 43.23% 42.86% 42.36% 42.24%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 50.32% 48.72% 48.61% 56.12% 56.32% 56.07% 56.23% 56.60% 57.08% 57.24%
Debt to EBITDA		 4.75 5.01 4.94 4.41 4.52 4.57 4.48 4.37 4.19 4.14
Net Debt to EBITDA		 4.74 4.98 4.94 4.27 4.36 4.50 4.25 4.21 3.94 4.11
Long-Term Debt to EBITDA		 4.45 4.45 4.36 4.36 4.46 4.51 4.43 4.31 4.14 4.09
Debt to NOPAT		 7.56 8.27 8.61 7.87 8.41 8.04 7.81 7.46 6.89 6.83
Net Debt to NOPAT		 7.55 8.22 8.61 7.60 8.11 7.93 7.40 7.20 6.48 6.79
Long-Term Debt to NOPAT		 7.09 7.35 7.59 7.77 8.31 7.94 7.72 7.37 6.80 6.75
Altman Z-Score		 0.80 0.86 0.83 0.81 0.78 0.76 0.73 0.71 0.74 0.65
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 0.70 0.63 0.50 1.22 1.25 1.37 1.42 1.30 1.22 0.96
Quick Ratio		 0.42 0.37 0.27 0.79 0.70 0.77 1.01 0.92 0.83 0.56
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -16 -31 -33 -24 -22 -20 -9.72 -2.99 3.47 -1.30
Operating Cash Flow to CapEx		 85.63% -6.65% 62.77% 30.39% 49.29% 63.77% 151.33% 72.74% 84.94% 44.66%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.15 0.15 0.14 0.14 0.14 0.13 0.13 0.13 0.14 0.14
Accounts Receivable Turnover		 7.74 8.06 10.20 8.34 7.61 6.62 8.44 7.34 8.47 7.72
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 25.77 26.40 26.51 26.62 26.64 26.60 27.41 28.10 28.89 29.59
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 47.16 45.29 35.80 43.76 47.99 55.12 43.27 49.70 43.11 47.28
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 47.16 45.29 35.80 43.76 47.99 55.12 43.27 49.70 43.11 47.28
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 375 385 390 400 403 411 405 410 408 418
Invested Capital Turnover		 0.27 0.27 0.27 0.26 0.26 0.25 0.25 0.25 0.26 0.26
Increase / (Decrease) in Invested Capital		 24 35 37 31 28 25 14 10 5.12 6.94
Enterprise Value (EV)		 615 718 705 605 590 586 547 532 551 500
Market Capitalization		 429 521 505 433 419 408 376 359 383 322
Book Value per Share		 $19.90 $19.80 $19.90 $23.90 $22.34 $22.42 $22.55 $22.79 $23.15 $23.23
Tangible Book Value per Share		 $19.59 $19.60 $19.70 $23.70 $22.16 $22.23 $22.36 $22.60 $22.96 $23.04
Total Capital		 373 386 389 405 408 411 413 414 418 418
Total Debt		 185 198 200 178 178 181 181 180 179 179
Total Long-Term Debt		 174 176 176 176 176 178 178 177 177 177
Net Debt		 185 196 200 172 172 178 171 173 169 178
Capital Expenditures (CapEx)		 13 12 17 16 17 13 8.32 9.44 13 15
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 1.34 4.60 1.65 1.54 2.53 7.93 1.83 2.68 -2.07 -0.05
Debt-free Net Working Capital (DFNWC)		 1.45 5.91 1.77 7.46 8.99 10 11 8.93 8.64 1.10
Net Working Capital (NWC)		 -9.97 -16 -22 5.36 6.77 8.20 9.12 6.71 6.30 -1.07
Net Nonoperating Expense (NNE)		 1.94 1.91 0.36 1.77 1.59 2.04 0.31 1.87 1.78 1.80
Net Nonoperating Obligations (NNO)		 187 197 201 173 173 180 173 176 170 178
Total Depreciation and Amortization (D&A)		 3.21 3.27 3.31 3.30 3.53 3.54 3.61 3.46 3.38 3.54
Debt-free, Cash-free Net Working Capital to Revenue		 1.39% 4.65% 1.67% 1.55% 2.55% 8.02% 1.82% 2.60% -1.96% -0.04%
Debt-free Net Working Capital to Revenue		 1.50% 5.98% 1.78% 7.51% 9.04% 10.56% 11.23% 8.67% 8.17% 1.02%
Net Working Capital to Revenue		 -10.32% -16.45% -22.11% 5.39% 6.81% 8.30% 9.04% 6.51% 5.97% -0.99%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.65 $0.24 $0.39 $0.44 $0.49 $0.35 $0.43 $0.52 $0.66 $0.37
Adjusted Weighted Average Basic Shares Outstanding		 9.48M 9.46M 9.50M 10.00M 10.28M 10.02M 10.29M 10.29M 10.30M 10.29M
Adjusted Diluted Earnings per Share		 $0.65 $0.25 $0.39 $0.44 $0.49 $0.35 $0.43 $0.52 $0.66 $0.37
Adjusted Weighted Average Diluted Shares Outstanding		 9.49M 9.48M 9.51M 10.00M 10.28M 10.02M 10.29M 10.30M 10.30M 10.30M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 9.49M 9.50M 9.51M 10.28M 10.28M 10.29M 10.29M 10.30M 10.30M 10.30M
Normalized Net Operating Profit after Tax (NOPAT)		 5.66 2.97 2.84 4.35 4.66 3.86 3.30 5.04 6.01 3.95
Normalized NOPAT Margin		 21.28% 11.81% 12.63% 17.21% 17.55% 15.73% 13.46% 18.38% 20.63% 14.71%
Pre Tax Income Margin		 31.50% 31.67% 27.21% 26.87% 27.37% 23.12% 26.80% 27.36% 30.90% 22.68%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 68.28% 57.33% 60.67% 62.62% 70.17% 67.32% 66.51% 66.07% 60.12% 59.66%
Augmented Payout Ratio		 68.28% 57.33% 60.67% 64.50% 72.21% 69.22% 68.33% 66.09% 60.12% 59.66%

Financials Breakdown Chart

Key Financial Trends

Here are the key takeaways from Artesian Resources (ARTNA) based on the last four years of quarterly statements. The focus is on trends in revenue, profitability, cash flow, and the balance sheet that may matter to retail investors.

  • Revenue growth in 2024: Q4 2024 revenue reached 26.85 million, up from 24.55 million in Q4 2023 and 25.12 million in Q4 2022, indicating a positive top-line trend.
  • Solid quarterly cash flow from operations: 2024 quarters show durable cash generation, with net cash from continuing operating activities ranging roughly from 6.7 million to 12.6 million (e.g., 12.59 million in Q1 2024 and 10.66 million in Q3 2024).
  • Stable dividend per share: Cash dividends per share run around 0.289–0.300, including 0.2897 (Q1 2024), 0.2955 (Q2 2024 and Q3 2024), and 0.30 (Q4 2024), indicating a steady income policy for shareholders.
  • Moderate leverage and solid balance sheet: Long-term debt sits around 176–178 million with total equity near 231–238 million, giving a debt-to-equity range of roughly 0.75–0.77 and a generally stable capital structure.
  • High gross margins implied by a regulated model: Total Gross Profit often equals Total Revenue (e.g., Q4 2024), suggesting limited direct costs under a regulated utility framework.
  • Very large noncurrent asset base: Other Noncurrent Assets run around 700–756 million in 2024, with less clear visibility into the exact composition.
  • Capex intensity: Ongoing capital expenditures on Property, Plant & Equipment, roughly 8.9–15.0 million per quarter in 2024, signaling continued asset buildup.
  • Investing cash flow remains negative due to capex: Net cash from investing activities was negative in every 2024 quarter (examples: about -8.3 to -15.0 million), reducing overall liquidity.
  • EPS and quarterly net income volatility: Earnings per share fluctuated in 2024 (roughly 0.37 to 0.66 for basic/diluted, with Q4 2024 at 0.37) and quarterly net income ranged from about 3.8 to 6.8 million, indicating earnings variability.
  • Rising absolute liabilities vs. equity: Total liabilities remain substantial relative to equity (liabilities around 548–558 million vs. equity around 229–238 million), implying a sizable liability load on the balance sheet.
05/11/26 03:30 PM ETAI Generated. May Contain Errors.

Artesian Resources Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Artesian Resources' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

Artesian Resources' net income appears to be on an upward trend, with a most recent value of $20.39 million in 2024, rising from $18.00 million in 2022. The previous period was $16.70 million in 2023. See Artesian Resources' forecast for analyst expectations on what's next for the company.

Artesian Resources' total operating income in 2024 was $26.15 million, based on the following breakdown:
  • Total Gross Profit: $107.95 million
  • Total Operating Expenses: $81.80 million

Over the last 2 years, Artesian Resources' total revenue changed from $98.90 million in 2022 to $107.95 million in 2024, a change of 9.2%.

Artesian Resources' total liabilities were at $559.43 million at the end of 2024, a 4.3% increase from 2023, and a 5.2% increase since 2022.

In the past 2 years, Artesian Resources' cash and equivalents has ranged from $1.15 million in 2024 to $2.51 million in 2023, and is currently $1.15 million as of their latest financial filing in 2024.

Over the last 2 years, Artesian Resources' book value per share changed from 19.80 in 2022 to 23.23 in 2024, a change of 17.3%.


Related Companies

Financial statements for NASDAQ:ARTNA last updated on 4/6/2025 by MarketBeat.com Staff. New filings and market data are monitored continuously.
From Our Partners
SpaceX eyes a 1.75 trillion valuation - here's what to know
Elon Musk's team has quietly filed confidential paperwork with the SEC for what Bloomberg estimates could be a...
Brownstone Research | Sponsoredtc pixel
$30 stock to buy before Starlink goes public (WATCH NOW!)
In the next 3 minutes… James Altucher – legendary investor and venture capitalist… And someone who’s kno...
Paradigm Press | Sponsoredtc pixel
Your book attached
Your Download Link (Expiring) If you still haven't downloaded the free Simple Options Trading For Beginners...
Profits Run | Sponsoredtc pixel
My feud with Zohran Mamdani
Emmy-winning analyst releases his next big story Whitney Tilson shocked the nation on 60 Minutes when he ac...
Stansberry Research | Sponsoredtc pixel
Trade this between 9:30 and 10:45 am EST
The first 75 minutes of the trading day may be the most overlooked window for consistent opportunities.If you ...
Base Camp Trading | Sponsoredtc pixel
Iran War Shock: What I Was Told In That Private Meeting
You’re Being LIED To About The Iran War Forget EVERYTHING you’ve heard about the Iran war. Especially th...
Banyan Hill Publishing | Sponsoredtc pixel
Satellite Images Spot Potential $10 Trillion Discovery
'Dark Energy': Elon Musk's Next Potential $10 Trillion Move A highly secure site in West Texas now houses a...
Altimetry | Sponsoredtc pixel
Why this tiny stock may move before the SpaceX IPO drops
The projected SpaceX and xAI S-1 filing hits the SEC on June 1st - and analyst Dylan Jovine says $1.75 trillio...
Behind the Markets | Sponsoredtc pixel