Arts Way Manufacturing Co Inc (ARTW)

Art's-Way Manufacturing Co., Inc. manufactures and sells agricultural equipment, and specialized modular science and agricultural buildings in the United States and internationally. It operates through two segments, Agricultural Products and Modular Buildings. The Agricultural Products segment offers various specialized farm machinery, including portable and stationary animal feed processing equipment and related attachments; forage equipment, such as forage boxes, bale processors, running gears, and dump boxes; manure spreaders; sugar beet harvesting equipment; dirt work equipment; and after-market service parts. Its Modular Buildings segment produces, sells, and leases swine buildings, complex containment research laboratories, and research facilities for academic research institutions, government research and diagnostic centers, public health institutions, and private research and pharmaceutical companies. This segment also designs, manufactures, delivers, installs, and rents building units. It markets and sells its products through independent farm equipment dealers, and OEM sales channels. Art's-Way Manufacturing Co., Inc. was founded in 1956 and is headquartered in Armstrong, Iowa.

Symbol: ARTW
Exchange: Nasdaq
Sector: Industrials
Industry: Farm & Heavy Construction Machinery
Market cap: $16.24M
52 week range: 2.05 - 4.17

Valuation

Share price: $3.13 (close of 2026-10-02)
P/E (TTM): -313.00x
Price to book: 1.18x
Price to free cash flow: -6.30x
Enterprise value: $22.67M
Book value per share: $2.66

Price performance

Period	Change
1 day	+4.33%
5 days	-4.28%
1 month	+4.33%
3 months	+16.36%
6 months	+51.21%
Year to date	+33.19%
1 year	+7.19%
3 years	+31.51%
5 years	-12.81%
10 years	+3.64%
All time	-77.64%

Profitability and growth

Return on equity: 7.78%
Return on invested capital: 0.73%
Return on assets: 4.60%
Return on capital employed: 1.80%
Gross margin: 27.28%
Net margin: 4.50%
EBITDA margin: 4.71%
Revenue growth: -6.22%
Net income growth: 236.69%
Free cash flow growth: -180.53%

Cash flow and balance sheet

Free cash flow yield (TTM): -15.87%
Current ratio: 2.17x
Net debt to EBITDA: 4.83x

Latest reported year

Period end: 2025-11-30
Fiscal year: 2025
Revenue: $22.98M
Cost of revenue: $16.71M
Gross profit: $6.27M
EBITDA: $1.08M
Net income: $1.03M
Earnings per share: $0.20
Research and development: $228.00K
Shares outstanding: 5.09M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-11-30	$22.98M	$6.27M	$1.03M	$0.20
2024-11-30	$24.50M	$7.31M	$307.38K	$0.06
2023-11-30	$30.28M	$8.58M	$266.97K	$0.05
2022-11-30	$25.65M	$6.94M	$97.80K	$0.02
2021-11-30	$24.97M	$6.60M	$212.63K	$0.05
2020-11-30	$22.41M	$2.40M	-$2.10M	$-0.48
2019-11-30	$22.89M	$3.93M	-$1.42M	$-0.33
2018-11-30	$19.73M	$3.51M	-$3.39M	$-0.81
2017-11-30	$20.72M	$4.08M	-$1.64M	$-0.39
2016-11-30	$21.56M	$5.32M	-$821.33K	$-0.20

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-11-30	27.28%	4.50%	7.78%	0.73%
2024-11-30	29.84%	1.25%	2.54%	2.73%
2023-11-30	28.35%	0.88%	2.29%	6.09%
2022-11-30	27.06%	0.38%	0.88%	2.90%
2021-11-30	26.42%	0.85%	2.05%	3.52%
2020-11-30	10.71%	-9.39%	-21.23%	-23.98%
2019-11-30	17.16%	-6.20%	-12.04%	-8.07%
2018-11-30	17.80%	-17.17%	-25.98%	-16.38%
2017-11-30	19.71%	-7.90%	-10.24%	-6.92%
2016-11-30	24.68%	-3.81%	-4.70%	-1.71%

Cash and debt by year

Period end	Cash	Debt
2025-11-30	$4.85K	$2.33M
2024-11-30	$1.86K	$1.98M
2023-11-30	$4.01K	$2.63M
2022-11-30	$5.05K	$2.74M
2021-11-30	$2.66K	$2.64M
2020-11-30	$2.68K	$2.71M
2019-11-30	$3.15K	$2.35M
2018-11-30	$3.51K	$2.52M
2017-11-30	$212.40K	$2.75M
2016-11-30	$1.06M	$1.39M

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-11-30	-$1.53M	$179.08K
2024-11-30	$1.90M	$182.85K
2023-11-30	-$896.98K	$292.19K
2022-11-30	-$717.76K	$287.72K
2021-11-30	-$1.61M	$265.54K
2020-11-30	-$1.55M	$247.65K
2019-11-30	$360.73K	$195.42K
2018-11-30	-$1.55M	$197.24K
2017-11-30	$233.78K	$113.04K
2016-11-30	$2.11M	$79.98K