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Artesian Resources cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$2.5M in Q2 2026 · −$18.2M over twelve months

Operating cash flow$10.2M
Capital spending−$12.7M
Free cash flow−$2.5M
Cash / net income1.5×

Analysis

In Q2 2026, Artesian Resources generated $10.2M of operating cash flow and spent $12.7M on capital projects, leaving free cash flow of −$2.5M. That is $5.4M more than in Q2 2025 (−$7.9M).

Over the twelve months to Jun 30, 2026, operating cash flow was $40.3M; the largest uses were capital spending ($58.4M), dividends ($12.9M), net borrowing (+) / repaid (−) ($4.3M); besides operations, cash came from other financing ($44.4M), shares issued ($344K); the cash balance rose by $9.5M.

Operating cash flow was $10.2M against net income of $6.6M — 1.5× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$3.5M, receivables −$1.0M, contract assets −$964K.

Free cash flow

Artesian Resources: free cash flow by quarterArtesian Resources: free cash flow by quarter−$1.9MQ3 2024−$8.3MQ4 2024$560KQ1 2025−$7.9MQ2 2025−$3.3MQ3 2025−$7.9MQ4 2025−$4.5MQ1 2026−$2.5MQ2 2026
Operating cash flow less capital spending.
Artesian Resources: operating cash flow against capital spendingArtesian Resources: operating cash flow against capital spendingOperating cash flowCapital spending$10.7M$12.6MQ3 2024$6.7M$15.0MQ4 2024$11.0M$10.4MQ1 2025$7.9M$15.9MQ2 2025$11.0M$14.3MQ3 2025$10.5M$18.3MQ4 2025$8.6M$13.1MQ1 2026$10.2M$12.7MQ2 2026
Latest (Q2 2026): Operating cash flow $10.2M, Capital spending $12.7M.

Capital allocation, year by year

Artesian Resources: where the cash came from (up) and went (down), by fiscal yearArtesian Resources: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsDividendsFY2021: Operating cash flow $31.3MFY2021: Net borrowing −$8.7MFY2021: Shares issued $2.0MFY2021: Asset sales $90KFY2021: Capital spending −$40.8MFY2021: Dividends −$9.8M$33.4MFY2021FY2022: Operating cash flow $24.3MFY2022: Net borrowing $17.1MFY2022: Shares issued $3.7MFY2022: Asset sales $65KFY2022: Capital spending −$48.5MFY2022: Acquisitions −$6.3MFY2022: Dividends −$10.3M$45.2MFY2022FY2023: Operating cash flow $31.9MFY2023: Net borrowing $5.6MFY2023: Shares issued $37.2MFY2023: Asset sales $99KFY2023: Capital spending −$62.2MFY2023: Dividends −$11.2M$74.8MFY2023FY2024: Operating cash flow $36.8MFY2024: Net borrowing −$1.5MFY2024: Shares issued $347KFY2024: Asset sales $623KFY2024: Capital spending −$45.9MFY2024: Dividends −$12.2M$37.8MFY2024FY2025: Operating cash flow $40.3MFY2025: Net borrowing $3.5MFY2025: Shares issued $342KFY2025: Asset sales $129KFY2025: Capital spending −$58.8MFY2025: Dividends −$12.7M$44.3MFY2025
Over these 5 years operating cash flow totalled $165M; the largest uses were capital spending ($256M) and dividends ($56.2M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$9.8M
Debt$176M
Net debt$167M
Due within a year$2.1M

Artesian Resources's operations bring cash in ($40.3M over twelve months), and it spends more than that on capital projects: a gap of $18.2M funded from its $9.8M of cash and investments and from borrowing ($176M of debt, $2.1M due within a year). That is a choice to invest, not a cash runway running down.

Artesian Resources: debt maturities by year (FY2025)Artesian Resources: debt maturities by year (FY2025)$2.1MYear 1$2.3MYear 2$27.0MYear 3$2.1MYear 4$2.1MYear 5$141MAfter year 5
Principal due in each year as disclosed in the annual report, against $9.8M of cash and investments now.

Where the cash came from and went

Artesian Resources: sources (+) and uses (−) of cash, Q2 2026Artesian Resources: sources (+) and uses (−) of cash, Q2 2026Capital spending−$12.7MOther financing$12.1MOperating cash flow$10.2MCash drawn (+) / kept (−)−$5.5MDividends−$3.3MNet borrowing (+) / repaid (−)−$857KShares issued$90KAsset & business sales$69K
Artesian Resources: sources (+) and uses (−) of cash, TTM to Q2 2026Artesian Resources: sources (+) and uses (−) of cash, TTM to Q2 2026Capital spending−$58.4MOther financing$44.4MOperating cash flow$40.3MDividends−$12.9MCash drawn (+) / kept (−)−$9.5MNet borrowing (+) / repaid (−)−$4.3MShares issued$344KAsset & business sales$126K

From profit to cash

Artesian Resources: net income to operating cash flow, Q2 2026Artesian Resources: net income to operating cash flow, Q2 2026Net income$6.6MDepreciation & amortization$3.5MStock-based pay$77KDeferred taxes$411KReceivables−$1.0MPayables$465KAccrued liabilities$848KDeferred revenue$10KContract assets−$964KPrepaid and other assets$80KIncome taxes payable−$482KOperating cash flow$10.2M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026$10.2M−$12.7M−$3.3M−$857K$90K−$5.5M−$2.5M
Q1 2026$8.6M−$13.1M−$3.2M$3.8M$84K−$4.2M−$4.5M
Q4 2025$10.5M−$18.3M−$3.2M$4.9M$85K$653K−$7.9M
Q3 2025$11.0M−$14.3M−$3.2M−$2.1M$85K−$356K−$3.3M
Q2 2025$7.9M−$15.9M−$3.2M$1.1M$87K$3.4M−$7.9M
Q1 2025$11.0M−$10.4M−$3.1M−$463K$85K−$2.6M$560K
Q4 2024$6.7M−$15.0M−$3.1M−$543K$87K$9.6M−$8.3M
Q3 2024$10.7M−$12.6M−$3.0M−$502K$80K−$4.5M−$1.9M

Artesian Resources: income statement and cash flow

Artesian Resources, Q2 2026: revenue $30.7M (+7% year over year), operating margin 28.1%. The chart follows the revenue to costs, profit and cash.

Artesian Resources: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.