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ARTNB

ARTESIAN RESOURCES CORPORATION
CIK 0000863110 ยท EDGAR โ†—
cleanelevatedtriggeredno dataplanned
51.6
composite ยท 5 signals ยท TRIGGERED

Every card below shows the score and the exact filing data it was computed from โ€” no unexplained numbers. Some signals (P-02, P-03, P-08, P-09, P-10, P-11) pull live documents from SEC EDGAR the first time you view this company; a few of those (P-03, P-10, P-11) use AI to read the filing text, but every AI claim must quote the actual document verbatim or it's discarded โ€” never a guess.

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Signals

P-07 ยท FY 2015-12-31 ยท TRIGGERED70.5

Pension underfunding

[FY2015 data, stale โ€” no more recent pension disclosure in XBRL] DB plan 0% funded โ€” -$1M deficit (0% of equity)
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2018-03-15) โ†—
Evidence โ€” inputs and thresholds
{
  "benefit_obligation": 616000,
  "plan_assets": 0,
  "funded_ratio": 0,
  "deficit": -616000,
  "deficit_vs_equity": 0.0047,
  "thresholds": {
    "elevated": "<90% funded",
    "triggered": "<80% funded or deficit >25% of equity"
  },
  "stale": true,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/863110/000086311018000005/0000863110-18-000005-index.htm",
    "form": "10-K",
    "filed": "2018-03-15"
  }
}
P-12 ยท FY 2025-12-31 ยท TRIGGERED66.2

Restatement predictor

F-Score 1.99 โ€” misstatement risk 2.0x the base rate
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2026-03-16) โ†—
Evidence โ€” inputs and thresholds
{
  "f_score": 1.986,
  "probability": 0.00735,
  "components": {
    "rsst": -0.0212,
    "drec": -0.0022,
    "dinv": null,
    "soft": 0.9958,
    "dcs": 0.0634,
    "droa": 0.0013,
    "issue": 1
  },
  "model": "Dechow et al. 2011, Model 1 (simplified RSST)",
  "thresholds": {
    "elevated": 1,
    "triggered": 1.85
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/863110/000086311026000025/0000863110-26-000025-index.htm",
    "form": "10-K",
    "filed": "2026-03-16"
  }
}
P-01 ยท FY 2025-12-31 ยท CLEAN22.7

Earnings quality

Beneish M-Score -2.71 โ€” no manipulation profile
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2026-03-16) โ†—
Evidence โ€” inputs and thresholds
{
  "m_score": -2.706,
  "threshold": -1.78,
  "ratios": {
    "DSRI": 0.8,
    "GMI": 1,
    "AQI": 1.006,
    "SGI": 1.046,
    "DEPI": 0.994,
    "SGAI": 1,
    "LVGI": 0.966,
    "TATA": -0.021
  },
  "defaulted_to_neutral": [
    "GMI",
    "SGAI"
  ],
  "sloan_accruals": -0.0212,
  "inputs": {
    "revenue_t": 112941000,
    "revenue_t1": 107952000,
    "total_assets_t": 851229000,
    "net_income_t": 22822000,
    "cfo_t": 40346000
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/863110/000086311026000025/0000863110-26-000025-index.htm",
    "form": "10-K",
    "filed": "2026-03-16"
  }
}
P-05 ยท FY 2020-12-31 ยท CLEAN0.0

Tax arbitrage

[FY2020 data, stale โ€” no more recent pretax-income figure in XBRL] ETR 25.3% โ€” within normal range of statutory
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2023-03-10) โ†—
Evidence โ€” inputs and thresholds
{
  "etr_by_year": {
    "2020-12-31": 0.2526,
    "2019-12-31": 0.2577,
    "2018-12-31": 0.259
  },
  "statutory_rate": 0.21,
  "gap_by_year": {
    "2020-12-31": -0.0426,
    "2019-12-31": -0.0477,
    "2018-12-31": -0.049
  },
  "note": "Low ETR can be fully legitimate; this flags persistence + magnitude for review.",
  "stale": true,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/863110/000086311023000004/0000863110-23-000004-index.htm",
    "form": "10-K",
    "filed": "2023-03-10"
  }
}
P-13 ยท FY 2025-12-31 ยท CLEAN0.0

Zombie / distress

Interest coverage 3.20x โ€” servicing debt from operations
trend: flat
Trend
Source: 10-K on SEC.gov (filed 2026-03-16) โ†—
Evidence โ€” inputs and thresholds
{
  "icr_by_year": {
    "2025-12-31": 3.198,
    "2024-12-31": 2.979,
    "2023-12-31": 2.452,
    "2022-12-31": 2.812
  },
  "consecutive_years_below_1": 0,
  "altman_z_double_prime": 1.75,
  "definitions": {
    "zombie": "ICR<1 for 3+ consecutive FYs (BIS 2018)",
    "z_distress": "<1.1 distress, 1.1-2.6 gray, >2.6 safe"
  },
  "inputs": {
    "ebit_t": 27782000,
    "interest_expense_t": 8686000
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/863110/000086311026000025/0000863110-26-000025-index.htm",
    "form": "10-K",
    "filed": "2026-03-16"
  }
}