WallStSmart

Artesian Resources Corporation (ARTNA)vsAmerican States Water Company (AWR)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

American States Water Company generates 492% more annual revenue ($679.25M vs $114.83M). ARTNA leads profitability with a 20.3% profit margin vs 19.7%. AWR appears more attractively valued with a PEG of 2.80. AWR earns a higher WallStSmart Score of 62/100 (C+).

ARTNA

Buy

60

out of 100

Grade: C+

Growth: 5.3Profit: 7.0Value: 5.3Quality: 4.0
Piotroski: 3/9Altman Z: 0.67

AWR

Buy

62

out of 100

Grade: C+

Growth: 6.7Profit: 7.5Value: 4.0Quality: 5.0
Piotroski: 4/9Altman Z: 1.21
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

ARTNAUndervalued (+7.1%)

Margin of Safety

+7.1%

Fair Value

$35.62

Current Price

$32.96

$2.66 discount

UndervaluedFair: $35.62Overvalued
AWROvervalued (-11.2%)

Margin of Safety

-11.2%

Fair Value

$63.79

Current Price

$78.37

$14.58 premium

UndervaluedFair: $63.79Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

ARTNA4 strengths · Avg: 9.3/10
Price/BookValuation
1.3x10/10

Reasonable price relative to book value

Operating MarginProfitability
30.0%10/10

Strong operational efficiency at 30.0%

Profit MarginProfitability
20.3%9/10

Keeps 20 of every $100 in revenue as profit

P/E RatioValuation
14.3x8/10

Attractively priced relative to earnings

AWR2 strengths · Avg: 9.0/10
Operating MarginProfitability
30.9%10/10

Strong operational efficiency at 30.9%

Price/BookValuation
2.9x8/10

Reasonable price relative to book value

Areas to Watch

ARTNA4 concerns · Avg: 2.5/10
Market CapQuality
$331.00M3/10

Smaller company, higher risk/reward

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

PEG RatioValuation
3.542/10

Expensive relative to growth rate

Free Cash FlowQuality
$-4.50M2/10

Negative free cash flow — burning cash

AWR2 concerns · Avg: 2.0/10
PEG RatioValuation
2.802/10

Expensive relative to growth rate

Altman Z-ScoreHealth
1.212/10

Distress zone — elevated risk

Comparative Analysis Report

WallStSmart Research

Bull Case : ARTNA

The strongest argument for ARTNA centers on Price/Book, Operating Margin, Profit Margin. Profitability is solid with margins at 20.3% and operating margin at 30.0%.

Bull Case : AWR

The strongest argument for AWR centers on Operating Margin, Price/Book. Profitability is solid with margins at 19.7% and operating margin at 30.9%. Revenue growth of 14.3% demonstrates continued momentum.

Bear Case : ARTNA

The primary concerns for ARTNA are Market Cap, Piotroski F-Score, PEG Ratio.

Bear Case : AWR

The primary concerns for AWR are PEG Ratio, Altman Z-Score.

Key Dynamics to Monitor

AWR carries more volatility with a beta of 0.59 — expect wider price swings.

AWR is growing revenue faster at 14.3% — sustainability is the question.

AWR generates stronger free cash flow (23M), providing more financial flexibility.

Monitor UTILITIES - REGULATED WATER industry trends, competitive dynamics, and regulatory changes.

Bottom Line

AWR scores higher overall (62/100 vs 60/100), backed by strong 19.7% margins and 14.3% revenue growth. Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Artesian Resources Corporation

UTILITIES · UTILITIES - REGULATED WATER · USA

Artesian Resources Corporation provides water, wastewater, and other services in Delaware, Maryland, and Pennsylvania. The company is headquartered in Newark, Delaware.

American States Water Company

UTILITIES · UTILITIES - REGULATED WATER · USA

American States Water Company provides water and electricity services to residential, commercial, industrial and other customers in the United States. The company is headquartered in San Dimas, California.

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