Does ARTESIAN RESOURCES CORPORATION have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores ARTESIAN RESOURCES CORPORATION (ARTNA) 35.1 out of 100 — below the Shallow-moat bar, so no moat. The five questions behind that score begin at 20% each; if exactly one genuinely lacks data, the other four weights are renormalized and disclosed. revenue and EPS trend 77, pricing power not measurable from the filings, returns on capital 0, balance-sheet safety 3, capital allocation 61.

How has ARTNA's Moat Score changed over time?

The record logs 29 readings since Jul 17, 2026; the latest reads 35.1 out of 100 (no moat). No tier changes on record yet. (Methodology or normalizer upgrades on Jul 20, 2026, Jul 23, 2026, Jul 26, 2026 re-based the score; readings across versions aren't compared.) The history is append-only — readings are only ever added, never rewritten.

ARTESIAN RESOURCES CORPORATION

ARTNA · Utilities · FY2025 filings · as of Oct 18, 2026 · No moat ·

Doesn't clear the bar

No moat

The five investor questions

2021–2025 (latest 5 aligned FYs; v3 window cap 5): revenue $90.9M to $113M, increasing; diluted EPS 1.79 to 2.21, increasing.

—

Not enough years of gross-margin data to score pricing power.

Median ROIC 5.0%, above the 12% hurdle in 0% of years.

Net debt/EBITDA 4.2x, interest coverage 3x.

Owner earnings changed +6.5%/yr over up to the ten most recent annual observations, share count n/a.

The pricingPower component abstained: Not enough years of gross-margin data to score pricing power. The other four 20% weights were renormalized over the scored 80%.

Price vs. value if growth stopped today

A cautious baseline, not a price target: what the shares may support if normalized owner earnings simply hold steady.

Above value if growth stopped todayBelow value if growth stopped today

No price data

: $18M
: Unavailable — insufficient owner-earnings data
: Unavailable — insufficient growth-model data
: $33.38
: No price data

This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. The recent FY revenue series does not trigger the three-consecutive-declines flag.

Among the current top-score group, the median current price is 243% above the zero-growth estimate across 49 of the current top 50 companies by Moat Score with both values.

Score records captured Oct 18, 2026.

Exactly which 50 companies?

FTNT, IBEX, META, MEDP, MSFT, GOOG, LULU, ANF, IDXX, TXRH, FHI, QLYS, FFIV, ADBE, LLY, MANH, CPRT, VEEV, RMD, GRMN, PCTY, EAT, UI, SSD, MNST, DOCS, LRCX, MCO, NTAP, NVDA, CORT, SFM, MPTI, ULTA, SN, ROL, CTAS, PAYC, IRMD, DECK, MORN, INTU, JKHY, TPR, LGCY, DAL, GWW, ISRG, MPWR, LOPE

Missing a usable price or zero-growth estimate: ANF.

Model details under moat-index@3.0.0: zero-growth multiple 11.1×, capped-growth comparison at no more than 18×; 9% discount rate; high-end growth 4% (capped at 4%) using min(5y revenue CAGR, 5y diluted-EPS CAGR), clamped to 0%–4%; maintenance capex uses min(capex, D&A); abstain when D&A is unavailable. This is a disclosed model range, not intrinsic value as fact.

18 years of fundamentals

The business, in plain English

Across the filed record, revenue grew from $79.1M (FY2016) to $113M (FY2025) — about 4.0% a year compounded over 9 years.

It earned 4.9% on invested capital in the latest filed year, FY2025. Across the full 17-year measurable filed record, median ROIC was 4.9%. Over the v3 recent window (10 measurable filed years), median ROIC was 5.0%. The Returns on Capital filter above scores it 0/100.

The balance sheet carried $176M of total debt in FY2025 against $22.8M of owner earnings — roughly 7.7 years of owner earnings to retire it all. Balance-Sheet Safety scores it 3/100.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

Sales, as filed$113M FY2025

Revenue kept after cost of goods

Not disclosed in ARTNA’s filings for these years — we don’t estimate it.

Standard ROIC or separately labeled Operating ROICStandard ROIC 4.9% FY2025

Exact FY and FY-1 financing invested-capital inputs are required.. Current-year EBIT, tax expense, and non-zero pretax income are required for standard ROIC.

Cash an owner could take out$22.8M FY2025

The explained ROIC gaps have filed inputs but no meaningful positive invested-capital denominator. Other gaps mean the item is not in the filings for that year. The series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Flagship explainer

How ARTESIAN RESOURCES CORPORATION makes its money

ARTESIAN RESOURCES CORPORATION's filing does not supply enough comparable lines for a truthful flow chart — here's what is filed:

Table alternative
Filed line	Value	% of revenue	Source
	$113M	100%	10-K · FY 2025Filing detailsAccession 0000863110-26-000025 · filed Mar 16, 2026
	$27.8M	25%	10-K · FY 2025Filing detailsAccession 0000863110-26-000025 · filed Mar 16, 2026
Income before tax	$30.7M	27%	10-K · FY 2025Filing detailsAccession 0000863110-26-000025 · filed Mar 16, 2026
Income tax	$7.8M	7%	10-K · FY 2025Filing detailsAccession 0000863110-26-000025 · filed Mar 16, 2026
	$22.8M	20%	10-K · FY 2025Filing detailsAccession 0000863110-26-000025 · filed Mar 16, 2026

Source:

10-K · FY 2025Filing detailsAccession 0000863110-26-000025 · filed Mar 16, 2026

· event Dec 31, 2025 · retrieved Oct 18, 2026 · annual-row source set

Flagship explainer

What ARTESIAN RESOURCES CORPORATION owns — and owes

ARTESIAN RESOURCES CORPORATION's filing tags don't support a full breakdown — here's what is filed:

Table alternative
Filed line	Value	% of assets	Source
Total assets	$851M	100%	10-K · FY 2025Filing detailsAccession 0000863110-26-000025 · filed Mar 16, 2026
Cash and equivalents	$52000	0%	10-K · FY 2025Filing detailsAccession 0000863110-26-000025 · filed Mar 16, 2026
	$176M	21%	10-K · FY 2025Filing detailsAccession 0000863110-26-000025 · filed Mar 16, 2026
Stockholders’ equity	$250M	29%	10-K · FY 2025Filing detailsAccession 0000863110-26-000025 · filed Mar 16, 2026

Source:

10-K · FY 2025Filing detailsAccession 0000863110-26-000025 · filed Mar 16, 2026

· event Dec 31, 2025 · retrieved Oct 18, 2026 · annual-row source set

Flagship explainer

What drives ARTESIAN RESOURCES CORPORATION’s return on equity?

ROE is five filed business factors multiplied together.

DuPont source inputs
Input	Value	Fiscal year	Source
	$22.8M	FY2025	10-K · FY 2025Filing detailsAccession 0000863110-26-000025 · filed Mar 16, 2026
Income before tax	$30.7M	FY2025	10-K · FY 2025Filing detailsAccession 0000863110-26-000025 · filed Mar 16, 2026
Operating income	$27.8M	FY2025	10-K · FY 2025Filing detailsAccession 0000863110-26-000025 · filed Mar 16, 2026
	$113M	FY2025	10-K · FY 2025Filing detailsAccession 0000863110-26-000025 · filed Mar 16, 2026
Ending assets	$851M	FY2025	10-K · FY 2025Filing detailsAccession 0000863110-26-000025 · filed Mar 16, 2026
Beginning assets	$799M	FY2024	10-K · FY 2024Filing detailsAccession 0000863110-26-000025 · filed Mar 16, 2026
	$250M	FY2025	10-K · FY 2025Filing detailsAccession 0000863110-26-000025 · filed Mar 16, 2026
	$239M	FY2024	10-K · FY 2024Filing detailsAccession 0000863110-26-000025 · filed Mar 16, 2026

Source:

10-K · filed Mar 16, 2026Filing detailsAccession 0000863110-26-000025 · filed Mar 16, 2026

· event Dec 31, 2025 · retrieved Oct 18, 2026 · annual-row source set

Embed this chart

Flagship explainer

Where ARTESIAN RESOURCES CORPORATION's cash went

ARTESIAN RESOURCES CORPORATION’s filing does not supply enough provenance-matched cash-flow lines for a truthful flow chart — here’s what is filed:

Table alternative
Filed line	Value	% of cash from operations	Source
Cash from operations	$40.3M	100%	10-K · FY 2025Filing detailsAccession 0000863110-26-000025 · filed Mar 16, 2026
Depreciation and amortization	$13.8M	34%	10-K · FY 2025Filing detailsAccession 0000863110-26-000025 · filed Mar 16, 2026

Source:

10-K · FY 2025Filing detailsAccession 0000863110-26-000025 · filed Mar 16, 2026

· event Dec 31, 2025 · retrieved Oct 18, 2026 · annual-row source set

Curated 19-manager tier

Who reported holding ARTESIAN RESOURCES CORPORATION

Delayed public 13F reports for 2026-Q2—not live positions, trades, or recommendations.

0 holding0 exited0 not holding0/19 resolved19 not retrieved

Named manager positions and quarter-over-quarter changes
Manager	Reported position	Quarter-over-quarter	Filing accession
Abrams Capital	Not retrieved	Comparison not retrieved	Filing not retrieved
Akre Capital	Not retrieved	Comparison not retrieved	Filing not retrieved
Baupost Group	Not retrieved	Comparison not retrieved	Filing not retrieved
Berkshire Hathaway	Not retrieved	Comparison not retrieved	Filing not retrieved
Brave Warrior Advisors	Not retrieved	Comparison not retrieved	Filing not retrieved
Dodge & Cox	Not retrieved	Comparison not retrieved	Filing not retrieved
First Eagle	Not retrieved	Comparison not retrieved	Filing not retrieved
Fundsmith	Not retrieved	Comparison not retrieved	Filing not retrieved
Gardner Russo & Quinn	Not retrieved	Comparison not retrieved	Filing not retrieved
Gates Foundation Trust	Not retrieved	Comparison not retrieved	Filing not retrieved
Mairs & Power	Not retrieved	Comparison not retrieved	Filing not retrieved
Markel / Markel-Gayner	Not retrieved	Comparison not retrieved	Filing not retrieved
Oakmark / Harris Associates	Not retrieved	Comparison not retrieved	Filing not retrieved
Pershing Square	Not retrieved	Comparison not retrieved	Filing not retrieved
Polen Capital	Not retrieved	Comparison not retrieved	Filing not retrieved
Sequoia / Ruane Cunniff	Not retrieved	Comparison not retrieved	Filing not retrieved
Southeastern Asset Management	Not retrieved	Comparison not retrieved	Filing not retrieved
Tweedy, Browne	Not retrieved	Comparison not retrieved	Filing not retrieved
Yacktman Asset Management	Not retrieved	Comparison not retrieved	Filing not retrieved

Position size uses shares and filed value from each manager’s 13F. Portfolio weight uses the eligible long-share filing denominator. Changes compare only with the immediately preceding calendar quarter.

Source: Filing source not retrieved · event Jun 30, 2026 · retrieved Oct 18, 2026

Flagship explainer

What ARTESIAN RESOURCES CORPORATION insiders reported

Records still being gathered — partial as of retrieval Oct 19, 2026.

Partial coverage: the incomplete Form 4 walk cannot establish no activity, an activity date, or zero counts.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale35.1 / 100

Breaks in the line mark methodology or normalizer upgrades — readings across versions aren’t compared, so a level shift there isn’t a change in the business.

Tier changesSame-methodology and same-normalizer crossings of the Wide / Narrow / Shallow bars

Normalizer upgraded unstamped (version unknown)tomoat-xbrl-normalizer@1.1.0 — readings across versions aren’t comparedJul 26, 2026
Methodology upgraded moat-index@2.0.0tomoat-index@3.0.0 — readings across versions aren’t comparedJul 23, 2026
Methodology upgraded moat-index@1.2.0tomoat-index@2.0.0 — readings across versions aren’t comparedJul 20, 2026

Scores are logged append-only and never overwritten — this record cannot be reconstructed retroactively, which is exactly why it’s worth keeping.

Insider activity

Form 4 reports mix P/S market or private transactions with compensation-plan mechanics. Activity casually described as “insider selling” can include compensation mechanics; awards, tax withholding, and option exercises are shown by their exact filed class here, never collapsed into “Bought” or “Sold.”

These are disclosed filing facts and arithmetic aggregates, not a signal or verdict.

This machine-readable surface covers SEC ownership filings from 2003; it does not represent earlier paper-era records.

Records still being gathered — partial as of retrieval Oct 19, 2026.

Trailing-12-month totals and the 90-day cluster result are withheld because this issuer walk is incomplete.

Insider					Shares owned after	Date	Filing detail
TAYLOR DIAN CDirector	Open-market or private sale (S)Table I · Disposed · Class A Non-voting Common Stock	2,000	$35.29	$70,580	21,073	Sep 17, 2026	1 filed lot Table I · Class A Non-voting Common Stock: 2,000 shares at $35.29 · code S · owned after 21,073 · FORM 4 · filed Sep 17, 2026Filing detailsAccession 0000863110-26-000105 · filed Sep 17, 2026
TAYLOR DIAN CDirector	Open-market or private sale (S)Table I · Disposed · Class A Non-voting Common Stock	2,000	$35.05	$70,100	23,073	Sep 16, 2026	1 filed lot Table I · Class A Non-voting Common Stock: 2,000 shares at $35.05 · code S · owned after 23,073 · FORM 4 · filed Sep 17, 2026Filing detailsAccession 0000863110-26-000105 · filed Sep 17, 2026
Emerson Courtney AGen Counsel & Secretary	Other acquisition or disposition (J)Table I · Acquired · Class A Non-voting Common Stock · 1 paired event	750	$35.07	$26,303	760	Sep 16, 2026	1 filed lot Table I · Class A Non-voting Common Stock: 750 shares at $35.07 · code J · owned after 760 · Paired event: 750 Restricted Stock Grant → 750 Class A Non-voting Common Stock · FORM 4 · filed Sep 17, 2026Filing detailsAccession 0000863110-26-000103 · filed Sep 17, 2026
Emerson Courtney AGen Counsel & Secretary	Other acquisition or disposition (J)Table II · Disposed · Restricted Stock Grant · 1 paired event	750	$35.07	$26,303	0	Sep 16, 2026	1 filed lot Table II · Restricted Stock Grant: 750 shares at $35.07 · code J · owned after 0 · Paired event: 750 Restricted Stock Grant → 750 Class A Non-voting Common Stock · FORM 4 · filed Sep 17, 2026Filing detailsAccession 0000863110-26-000103 · filed Sep 17, 2026
Kelly Raymond T.VP of Information Technology	Other acquisition or disposition (J)Table I · Acquired · Class A Non-voting Common Stock · 1 paired event	750	$35.07	$26,303	750	Sep 16, 2026	1 filed lot Table I · Class A Non-voting Common Stock: 750 shares at $35.07 · code J · owned after 750 · Paired event: 750 Restricted Stock Grant → 750 Class A Non-voting Common Stock · FORM 4 · filed Sep 17, 2026Filing detailsAccession 0000863110-26-000101 · filed Sep 17, 2026
Kelly Raymond T.VP of Information Technology	Other acquisition or disposition (J)Table II · Disposed · Restricted Stock Grant · 1 paired event	750	$35.07	$26,303	0	Sep 16, 2026	1 filed lot Table II · Restricted Stock Grant: 750 shares at $35.07 · code J · owned after 0 · Paired event: 750 Restricted Stock Grant → 750 Class A Non-voting Common Stock · FORM 4 · filed Sep 17, 2026Filing detailsAccession 0000863110-26-000101 · filed Sep 17, 2026
KONSTANSKI DANIELVice President of Engineering	Other acquisition or disposition (J)Table I · Acquired · Class A Non-voting Common Stock · 1 paired event	750	$35.07	$26,303	750	Sep 16, 2026	1 filed lot Table I · Class A Non-voting Common Stock: 750 shares at $35.07 · code J · owned after 750 · Paired event: 750 Restricted Stock Grant → 750 Class A Non-voting Common Stock · FORM 4 · filed Sep 17, 2026Filing detailsAccession 0000863110-26-000099 · filed Sep 17, 2026
KONSTANSKI DANIELVice President of Engineering	Other acquisition or disposition (J)Table II · Disposed · Restricted Stock Grant · 1 paired event	750	$35.07	$26,303	0	Sep 16, 2026	1 filed lot Table II · Restricted Stock Grant: 750 shares at $35.07 · code J · owned after 0 · Paired event: 750 Restricted Stock Grant → 750 Class A Non-voting Common Stock · FORM 4 · filed Sep 17, 2026Filing detailsAccession 0000863110-26-000099 · filed Sep 17, 2026
Anderson Pierre AChief Info Officer / Sr VP	Other acquisition or disposition (J)Table I · Acquired · Class A Non-voting Common Stock · 1 paired event	750	$35.07	$26,303	750	Sep 16, 2026	1 filed lot Table I · Class A Non-voting Common Stock: 750 shares at $35.07 · code J · owned after 750 · Paired event: 750 Restricted Stock Grant → 750 Class A Non-voting Common Stock · FORM 4 · filed Sep 17, 2026Filing detailsAccession 0000863110-26-000097 · filed Sep 17, 2026
Anderson Pierre AChief Info Officer / Sr VP	Other acquisition or disposition (J)Table II · Disposed · Restricted Stock Grant · 1 paired event	750	$35.07	$26,303	0	Sep 16, 2026	1 filed lot Table II · Restricted Stock Grant: 750 shares at $35.07 · code J · owned after 0 · Paired event: 750 Restricted Stock Grant → 750 Class A Non-voting Common Stock · FORM 4 · filed Sep 17, 2026Filing detailsAccession 0000863110-26-000097 · filed Sep 17, 2026
SPACHT DAVID BCFO	Other acquisition or disposition (J)Table I · Acquired · Class A Non-voting Common Stock · 1 paired event	750	$35.07	$26,303	1,788	Sep 16, 2026	1 filed lot Table I · Class A Non-voting Common Stock: 750 shares at $35.07 · code J · owned after 1,788 · Paired event: 750 Restricted Stock Grant → 750 Class A Non-voting Common Stock · FORM 4 · filed Sep 17, 2026Filing detailsAccession 0000863110-26-000095 · filed Sep 17, 2026
SPACHT DAVID BCFO	Other acquisition or disposition (J)Table II · Disposed · Restricted Stock Grant · 1 paired event	750	$35.07	$26,303	0	Sep 16, 2026	1 filed lot Table II · Restricted Stock Grant: 750 shares at $35.07 · code J · owned after 0 · Paired event: 750 Restricted Stock Grant → 750 Class A Non-voting Common Stock · FORM 4 · filed Sep 17, 2026Filing detailsAccession 0000863110-26-000095 · filed Sep 17, 2026
Finch Jennifer LeighSr. Vice President & Treasurer	Other acquisition or disposition (J)Table I · Acquired · Class A Non-voting Common Stock · 1 paired event	750	$35.07	$26,303	1,786	Sep 16, 2026	1 filed lot Table I · Class A Non-voting Common Stock: 750 shares at $35.07 · code J · owned after 1,786 · Paired event: 750 Restricted Stock Grant → 750 Class A Non-voting Common Stock · FORM 4 · filed Sep 17, 2026Filing detailsAccession 0000863110-26-000093 · filed Sep 17, 2026
Finch Jennifer LeighSr. Vice President & Treasurer	Other acquisition or disposition (J)Table II · Disposed · Restricted Stock Grant · 1 paired event	750	$35.07	$26,303	0	Sep 16, 2026	1 filed lot Table II · Restricted Stock Grant: 750 shares at $35.07 · code J · owned after 0 · Paired event: 750 Restricted Stock Grant → 750 Class A Non-voting Common Stock · FORM 4 · filed Sep 17, 2026Filing detailsAccession 0000863110-26-000093 · filed Sep 17, 2026
TAYLOR DIAN CDirector	Open-market or private sale (S)Table I · Disposed · Class A Non-voting Common Stock	3,876	$36.11	$139,962	See lot detail	Sep 3, 2026	2 filed lots Table I · Class A Non-voting Common Stock: 1,876 shares at $36.11 · code S · owned after 25,073 · FORM 4 · filed Sep 11, 2026Filing detailsAccession 0000863110-26-000091 · filed Sep 11, 2026 Table I · Class A Non-voting Common Stock: 2,000 shares at $36.11 · code S · owned after 24,949 · FORM 4 · filed Sep 4, 2026Filing detailsAccession 0000863110-26-000088 · filed Sep 4, 2026
TAYLOR DIAN CDirector	Open-market or private sale (S)Table I · Disposed · Class A Non-voting Common Stock	1,124	$36.00	$40,464	26,949	Sep 2, 2026	1 filed lot Table I · Class A Non-voting Common Stock: 1,124 shares at $36.00 · code S · owned after 26,949 · FORM 4 · filed Sep 4, 2026Filing detailsAccession 0000863110-26-000088 · filed Sep 4, 2026
TAYLOR DIAN CDirector	Open-market or private sale (S)Table I · Disposed · Class A Non-voting Common Stock	2,000	$35.50	$71,000	28,073	Aug 31, 2026	1 filed lot Table I · Class A Non-voting Common Stock: 2,000 shares at $35.50 · code S · owned after 28,073 · FORM 4 · filed Sep 1, 2026Filing detailsAccession 0000863110-26-000086 · filed Sep 1, 2026
TAYLOR DIAN CDirector	Open-market or private sale (S)Table I · Disposed · Class A Non-voting Common Stock	2,000	$35.50	$71,000	30,073	Aug 28, 2026	1 filed lot Table I · Class A Non-voting Common Stock: 2,000 shares at $35.50 · code S · owned after 30,073 · FORM 4 · filed Aug 31, 2026Filing detailsAccession 0000863110-26-000084 · filed Aug 31, 2026
TAYLOR DIAN CDirector	Open-market or private sale (S)Table I · Disposed · Class A Non-voting Common Stock	2,000	$35.68	$71,360	32,073	Aug 25, 2026	1 filed lot Table I · Class A Non-voting Common Stock: 2,000 shares at $35.68 · code S · owned after 32,073 · FORM 4 · filed Aug 27, 2026Filing detailsAccession 0000863110-26-000082 · filed Aug 27, 2026
TAYLOR DIAN CDirector	Open-market or private sale (S)Table I · Disposed · Class A Non-voting Common Stock	2,000	$35.30	$70,600	34,073	Aug 20, 2026	1 filed lot Table I · Class A Non-voting Common Stock: 2,000 shares at $35.30 · code S · owned after 34,073 · FORM 4 · filed Aug 21, 2026Filing detailsAccession 0000863110-26-000080 · filed Aug 21, 2026
TAYLOR DIAN CDirector	Open-market or private sale (S)Table I · Disposed · Class A Non-voting Common Stock	2,000	$35.001	$70,002	36,073	Aug 18, 2026	1 filed lot Table I · Class A Non-voting Common Stock: 2,000 shares at $35.001 · code S · owned after 36,073 · FORM 4 · filed Aug 18, 2026Filing detailsAccession 0000863110-26-000078 · filed Aug 18, 2026
TAYLOR DIAN CDirector	Open-market or private sale (S)Table I · Disposed · Class A Non-voting Common Stock	2,000	$35.007	$70,014	38,073	Aug 17, 2026	1 filed lot Table I · Class A Non-voting Common Stock: 2,000 shares at $35.007 · code S · owned after 38,073 · FORM 4 · filed Aug 18, 2026Filing detailsAccession 0000863110-26-000078 · filed Aug 18, 2026

Source-event as of Sep 17, 2026. Retrieved Oct 19, 2026.

Track record

How ARTESIAN RESOURCES CORPORATION’s moat rated in each of the years we can reconstruct from its filings — scored only on what was knowable at the time — and what its price and returns did afterward. The score never saw a price; the two are joined only in hindsight, for education, not as a signal.

Point-in-time Moat Score (dot colored by tier)Indexed price (total-return (dividends reinvested))Rated Wide-moat that year

How to read this: each dot is what the engine would have scored ARTNA on that December 31; the line below is its total-return price path (dividends reinvested) in the years since.

Two tracks, one timeline: the score has its own 0–100 scale (top), the price its own 100-based scale (bottom) — never a shared axis. The price path is a total-return (dividends reinvested) index built from the same data the forward returns use; gaps in the score line are years with no reconstructed rating (see the table for why). The Table view carries every value.

What followed, in the years it rated Wide

In the reconstructed history shown, ARTNA did not rate Wide-moat in any year, so there is no wide-moat track record to report. That absence is itself the honest answer — we don’t manufacture a comparison where the rating never earned one.

Utilities context

#55 of 102 scored Utilities companies, ranked by Moat Score.

Nearest peers by Moat Score

#53AEE AMEREN CORP35.8 out of 100, No moatNo moat
#54WMB WILLIAMS COMPANIES, INC.35.3 out of 100, No moatNo moat
#56KGS Kodiak Gas Services, Inc.35.1 out of 100, No moatNo moat
#57EVRG Evergy, Inc.35.0 out of 100, No moatNo moat

Compare ARTNA with its nearest peers →All Utilities companies on the Index →

Common questions about ARTNA

Does ARTESIAN RESOURCES CORPORATION have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores ARTESIAN RESOURCES CORPORATION (ARTNA) 35.1 out of 100 — below the Shallow-moat bar, so no moat. The five questions behind that score begin at 20% each; if exactly one genuinely lacks data, the other four weights are renormalized and disclosed. revenue and EPS trend 77, pricing power not measurable from the filings, returns on capital 0, balance-sheet safety 3, capital allocation 61.
How has ARTNA's Moat Score changed over time?: The record logs 29 readings since Jul 17, 2026; the latest reads 35.1 out of 100 (no moat). No tier changes on record yet. (Methodology or normalizer upgrades on Jul 20, 2026, Jul 23, 2026, Jul 26, 2026 re-based the score; readings across versions aren't compared.) The history is append-only — readings are only ever added, never rewritten.

Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell ARTNA. See the disclaimer.