Is Artesian Resources Corporation (ARTNA) halal? Not Halal. Based on AAOIFI screening, Artesian Resources Corporation passes the business activity screen but fails financial ratio screens with a compliance score of 0/100 (Grade: F).

Artesian Resources Corporation

ARTNA: Is Artesian Resources Corporation Halal?

Not Halal

Artesian Resources Corporation

NASDAQUtilitiesUS

$32.26

-1.47%

About Artesian Resources Corporation

Established in 1905 and headquartered in Newark, Delaware, Artesian Resources Corporation, through its various subsidiaries, delivers water, wastewater, and a range of associated utility services across Delaware, Maryland, and Pennsylvania. The company supplies water for residential, commercial, industrial, governmental, municipal, and utility consumption, along with supporting public and private fire protection, throughout these three states. In Delaware, it provides comprehensive wastewater collection, treatment facilities, and related services. Beyond its primary utility operations, Artesian offers contract water and wastewater services, protective plans for water, sewer, and internal service lines, and comprehensive wastewater management. Its capabilities also encompass design, construction, and engineering services within the utility sector. Furthermore, it extends support to other water utilities by managing their operations and billing. The corporation holds various real estate assets, such as land for its offices and for water and wastewater treatment facilities, and its portfolio also includes the design, installation, maintenance, and repair of stormwater management systems. By December 31, 2021, Artesian's extensive network, comprising 1,368 miles of transmission and distribution mains, served approximately 91,700 customers in Delaware, 2,500 in Maryland, and 40 in Pennsylvania.

Sector: Utilities 路 Industry: Regulated Water

Shariah Compliance Status

AAOIFI Standard 21Updated Jun 18, 2026
F

Non-Compliant

Fails Shariah screening

0Score

Business Activity Screen

Passed

Checks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)

Financial Ratio Screen

Failed

Financial ratios must be below AAOIFI thresholds

Debt / Market Cap53.6% / 30.0%

Compliance History

Not Halal, unchanged since May 2026.

No status changes recorded since we began tracking.

Tracked since May 2026. Updates automatically on each re-screen.

Screened: Jun 18, 2026Fiscal: Q1 2026Source: FMP

Financial Overview

Market Cap

333.1M

Price

$32.26

Sector

Utilities

Industry

Regulated Water

Halal Alternatives in Utilities

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

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30
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50
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PBA Holdings Bhd

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+0.00%

52
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Gas Malaysia Bhd

$5.25

+0.00%

52
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Malakoff Corporation Bhd

$0.87

+0.00%

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Frequently Asked Questions

Is Artesian Resources Corporation (ARTNA) halal to invest in?
Artesian Resources Corporation (ARTNA) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.
Why did Artesian Resources Corporation get a F compliance rating?
Artesian Resources Corporation (ARTNA) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 53.6% (limit 30%); interest-bearing deposits of 0.0% (limit 30%); prohibited income of 0.00% (limit 5%). The grade reflects the margin of safety across all three ratios relative to their thresholds.
What could change Artesian Resources Corporation's Shariah verdict?
Artesian Resources Corporation's verdict is re-evaluated at each annual re-screen. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.
How often is Artesian Resources Corporation re-screened for Shariah compliance?
Artesian Resources Corporation (ARTNA) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Jun 18, 2026.

Screened according to AAOIFI Standard No. 21 路 For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.