NASDAQ : ARTW
Art's-Way Manufacturing Co., Inc. — Financial statements
Industrials · Farm & Heavy Construction Machinery · United States
Last price 2.71 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 14.11M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Art's-Way Manufacturing Co., Inc. (ARTW) reported revenue of 25.18M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year December - November; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 25.18M | 22.98M | 24.50M | 30.28M | 25.65M | 24.97M |
| Cost of Revenue | 18.63M | 16.71M | 17.19M | 21.70M | 18.71M | 18.37M |
| Gross Profit | 6.55M | 6.27M | 7.31M | 8.58M | 6.94M | 6.60M |
| Selling, General & Admin | 6.18M | 5.63M | 6.42M | 6.45M | 5.75M | 5.57M |
| Research & Development | 386.98K | 343.96K | 432.59K | 598.07K | 580.54K | 505.08K |
| Operating Expenses | 6.57M | 5.98M | 6.85M | 7.05M | 6.33M | 6.07M |
| Operating Income | -21.82K | 289.45K | 460.70K | 1.53M | 604.72K | 523.41K |
| Interest Expense | -445.22K | -366.68K | -599.40K | -590.00K | -404.19K | -313.49K |
| Other Non Operating Income (Expenses) | 78.72K | 1.51M | 3.21K | 147.51K | 240.41K | 56.97K |
| EBT Excluding Unusual Items | -388.31K | 1.44M | -135.49K | 1.09M | 440.94K | 266.89K |
| Pretax Income | -388.31K | 1.44M | -135.49K | 1.09M | 440.94K | 266.89K |
| Income Tax Expense | 27.01K | 402.18K | -41.02K | 325.96K | 66.82K | 54.26K |
| Earnings From Continuing Operations | -415.32K | 1.03M | -94.47K | 762.79K | 374.12K | 212.63K |
| Earnings From Discontinued Operations | 401.84K | -495.82K | -276.32K | |||
| Net Income | -415.32K | 1.03M | 307.38K | 266.97K | 97.80K | 212.63K |
| Net Income to Common | -415.32K | 1.03M | 307.38K | 266.97K | 97.80K | 212.63K |
| Shares Outstanding (Basic) | 5.16M | 5.09M | 5.05M | 5.00M | 4.71M | 4.52M |
| Shares Outstanding (Diluted) | 5.16M | 5.09M | 5.05M | 5.00M | 4.71M | 4.52M |
| EPS (Basic) | -0.08 | 0.20 | 0.06 | 0.05 | 0.02 | 0.05 |
| EPS (Diluted) | -0.09 | 0.20 | 0.06 | 0.05 | 0.02 | 0.05 |
| Free Cash Flow | -1.04M | -1.53M | 1.90M | -896.98K | -717.76K | -1.61M |
| Free Cash Flow Per Share | -0.20 | -0.30 | 0.38 | -0.18 | -0.15 | -0.36 |
| Gross Margin | 26.01% | 27.28% | 29.84% | 28.35% | 27.05% | 26.42% |
| Operating Margin | -0.09% | 1.26% | 1.88% | 5.06% | 2.36% | 2.10% |
| Profit Margin | -1.65% | 4.50% | 1.26% | 0.88% | 0.38% | 0.85% |
| Free Cash Flow Margin | -4.11% | -6.67% | 7.76% | -2.96% | -2.80% | -6.43% |
| EBITDA | 801.40K | 1.08M | 1.33M | 2.31M | 1.27M | 1.14M |
| EBITDA Margin | 3.18% | 4.71% | 5.42% | 7.61% | 4.93% | 4.55% |
| D&A For EBITDA | 823.22K | 792.11K | 868.00K | 774.37K | 661.02K | 613.41K |
| EBIT | -21.82K | 289.45K | 460.70K | 1.53M | 604.72K | 523.41K |
| EBIT Margin | -0.09% | 1.26% | 1.88% | 5.06% | 2.36% | 2.10% |
| Effective Tax Rate | 27.99% | 29.94% | 15.15% | 20.33% | ||
| Advertising Expenses | 97.00K | 153.00K | 229.00K | 190.00K | 163.00K |
Balance sheet
Fiscal year December - November; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 2.85K | 4.85K | 1.86K | 4.01K | 5.05K | 2.66K |
| Cash & Short-Term Investments | 2.85K | 4.85K | 1.86K | 4.01K | 5.05K | 2.66K |
| Accounts Receivable | 5.19M | 2.58M | 2.59M | 3.72M | 2.92M | 2.84M |
| Receivables | 5.19M | 2.58M | 2.59M | 3.72M | 2.92M | 2.84M |
| Inventory | 11.49M | 11.71M | 10.33M | 11.03M | 9.61M | 9.21M |
| Other Current Assets | 605.38K | 487.02K | 208.47K | 328.62K | 1.60M | 121.17K |
| Total Current Assets | 17.29M | 14.78M | 13.12M | 15.09M | 14.13M | 12.17M |
| Property, Plant & Equipment | 6.76M | 5.60M | 5.63M | 5.74M | 5.77M | 6.00M |
| Long-Term Accounts Receivable | 122.37K | |||||
| Long-Term Deferred Tax Assets | 2.01M | 2.06M | 2.44M | 2.50M | 2.61M | 2.62M |
| Other Long-Term Assets | 35.36K | 39.34K | 44.65K | 1.07M | 1.44M | 60.57K |
| Total Assets | 26.21M | 22.48M | 21.24M | 24.40M | 23.95M | 20.85M |
| Accounts Payable | 1.21M | 902.33K | 944.45K | 2.26M | 2.51M | 1.74M |
| Accrued Expenses | 947.37K | 1.10M | 1.07M | 1.10M | 960.36K | 946.66K |
| Short-Term Debt | 3.65M | 3.25M | 1.93M | 4.41M | 3.92M | 4.07M |
| Current Portion of Long-Term Debt | 189.95K | 165.33K | 119.73K | 109.19K | 94.81K | 99.46K |
| Current Portion of Leases | 270.65K | 255.75K | 229.98K | 266.11K | 151.99K | 61.45K |
| Current Income Taxes Payable | 15.00K | 15.00K | 5.50K | 5.00K | 3.50K | 5.50K |
| Current Unearned Revenue | 3.63M | 519.63K | 2.11M | 767.33K | 1.15M | 559.27K |
| Other Current Liabilities | 233.35K | 225.00K | 225.19K | 481.90K | 468.21K | 202.85K |
| Total Current Liabilities | 10.13M | 6.44M | 6.63M | 9.40M | 9.27M | 7.69M |
| Long-Term Debt | 2.17M | 2.33M | 1.98M | 2.63M | 2.74M | 2.64M |
| Long-Term Leases | 202.14K | 408.15K | 539.14K | 735.97K | 497.84K | 177.32K |
| Other Long-Term Liabilities | 289.17K | |||||
| Total Liabilities | 12.51M | 9.17M | 9.15M | 12.76M | 12.80M | 10.50M |
| Common Stock | 53.21K | 52.25K | 51.49K | 51.07K | 50.14K | 45.84K |
| Additional Paid-In Capital | 5.37M | 5.20M | 5.02M | 4.84M | 4.55M | 3.76M |
| Retained Earnings | 8.59M | 8.36M | 7.33M | 7.02M | 6.75M | 6.66M |
| Treasury Stock | -310.38K | -308.69K | -307.15K | -269.49K | -200.96K | -108.52K |
| Shareholders' Equity | 13.71M | 13.31M | 12.09M | 11.64M | 11.15M | 10.35M |
| Total Liabilities & Equity | 26.21M | 22.48M | 21.24M | 24.40M | 23.95M | 20.85M |
| Total Debt | 6.48M | 6.41M | 4.79M | 8.15M | 7.41M | 7.05M |
| Net Cash (Debt) | -6.48M | -6.40M | -4.79M | -8.15M | -7.41M | -7.05M |
| Net Cash Per Share | -1.25 | -1.26 | -0.95 | -1.63 | -1.57 | -1.56 |
| Filing Date Shares Outstanding | 5.21M | 5.18M | 5.08M | 5.06M | 5.03M | 4.63M |
| Total Common Shares Outstanding | 5.21M | 5.11M | 5.04M | 5.01M | 4.95M | 4.54M |
| Working Capital | 7.16M | 8.34M | 6.49M | 5.69M | 4.87M | 4.49M |
| Book Value Per Share | 2.63 | 2.60 | 2.40 | 2.32 | 2.25 | 2.28 |
| Tangible Book Value | 13.71M | 13.31M | 12.09M | 11.64M | 11.15M | 10.35M |
| Tangible Book Value Per Share | 2.63 | 2.60 | 2.40 | 2.32 | 2.25 | 2.28 |
| Land | 70.50K | 70.50K | 70.50K | 70.50K | 220.50K | |
| Buildings | 7.57M | 7.51M | 7.48M | 7.48M | 7.98M | |
| Machinery | 11.81M | 11.51M | 11.08M | 11.33M | 11.91M | |
| Construction In Progress | 103.44K | 86.28K | 354.49K | 160.35K | ||
| Order Backlog | 8.11M | 5.89M | 10.53M | 14.35M | 12.33M |
Cash flow statement
Fiscal year December - November; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -415.32K | 1.03M | 307.38K | 266.97K | 97.80K | 212.63K |
| Depreciation & Amortization | 823.22K | 792.11K | 868.00K | 774.37K | 673.88K | 613.41K |
| Other Amortization | 60.91K | 121.82K | 30.45K | |||
| Loss (Gain) From Sale of Assets | -84.04K | -45.54K | -5.30K | -92.50K | -154.11K | -17.93K |
| Stock-Based Compensation | 209.39K | 179.08K | 182.85K | 292.19K | 287.72K | 265.54K |
| Provision & Write-off of Bad Debts | -17.83K | -48.03K | 76.50K | -1.15K | -3.49K | -12.99K |
| Other Operating Activities | -394.13K | 436.15K | -186.02K | 471.30K | 91.87K | -575.85K |
| Change in Accounts Receivable | -2.27M | 219.03K | 982.84K | -964.27K | -83.67K | -259.44K |
| Change in Inventory | 148.19K | -1.44M | 550.55K | -1.30M | -1.08M | -809.07K |
| Change in Accounts Payable | 31.04K | -42.12K | -1.31M | -253.96K | 934.16K | -218.31K |
| Change in Unearned Revenue | 4.70M | -91.68K | -235.45K | -409.37K | 551.86K | 80.28K |
| Change in Income Taxes | 10.00K | 9.50K | 500.00 | 1.50K | -2.00K | 4.40K |
| Change in Other Net Operating Assets | -1.78M | -1.97M | 1.52M | 466.46K | -90.36K | -268.52K |
| Operating Cash Flow | 959.07K | -904.14K | 2.63M | -55.19K | 951.72K | -985.85K |
| Capital Expenditures | -1.99M | -627.62K | -724.68K | -841.78K | -1.67M | -620.28K |
| Sale of Property, Plant & Equipment | 124.30K | 47.14K | 5.30K | 286.81K | 403.50K | 20.81K |
| Other Investing Activities | 1.68M | 101.46K | -77.87K | |||
| Investing Cash Flow | -1.87M | -580.48K | 961.07K | -453.51K | -1.34M | -599.48K |
| Short-Term Debt Issued | 1.32M | 489.02K | 1.72M | |||
| Long-Term Debt Issued | 516.97K | 397.54K | 350.00K | |||
| Total Debt Issued | 1.49M | 1.84M | 886.56K | 350.00K | 1.72M | |
| Short-Term Debt Repaid | -2.49M | -150.03K | ||||
| Long-Term Debt Repaid | -351.82K | -906.59K | -284.02K | -182.62K | -99.22K | |
| Total Debt Repaid | -414.23K | -351.82K | -3.39M | -284.02K | -332.65K | -99.22K |
| Net Debt Issued (Repaid) | 1.08M | 1.49M | -3.39M | 602.54K | 17.35K | 1.62M |
| Repurchase of Common Stock | -1.69K | -1.54K | -37.65K | -68.54K | -92.43K | -30.47K |
| Other Financing Activities | -165.26K | -160.60K | -26.34K | 469.60K | ||
| Financing Cash Flow | 908.35K | 1.49M | -3.59M | 507.67K | 394.52K | 1.59M |
| Net Cash Flow | -3.10K | 2.99K | -2.15K | -1.04K | 2.40K | -26.00 |
| Free Cash Flow | -1.04M | -1.53M | 1.90M | -896.98K | -717.76K | -1.61M |
| Free Cash Flow Margin | -4.11% | -6.67% | 7.76% | -2.96% | -2.80% | -6.43% |
| Free Cash Flow Per Share | -0.20 | -0.30 | 0.38 | -0.18 | -0.15 | -0.36 |
| Levered Free Cash Flow | -880.20K | -2.89M | 2.07M | -599.40K | -894.72K | -1.73M |
| Unlevered Free Cash Flow | -601.93K | -2.66M | 2.44M | -230.64K | -642.10K | -1.54M |
| Cash Interest Paid | 401.20K | 338.11K | 601.68K | 606.75K | 421.24K | 270.62K |
| Cash Income Tax Paid | 30.27K | 13.37K | 6.31K | 3.65K | 2.37K | 1.68K |
| Change in Working Capital | 837.79K | -3.31M | 1.51M | -2.46M | 232.95K | -1.47M |
Ratios
Fiscal year December - November; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 14.11M | 12.05M | 8.53M | 10.32M | 9.47M | 16.05M |
| Enterprise Value | 20.59M | 17.41M | 15.90M | 18.54M | 17.90M | 23.04M |
| Last Close Price | 2.71 | 2.36 | 1.70 | 2.06 | 1.94 | 3.54 |
| PE Ratio | 11.65 | 27.75 | 38.66 | 96.81 | 75.48 | |
| Forward PE | 15.33 | 15.33 | 15.33 | 15.33 | 15.33 | |
| PS Ratio | 0.56 | 0.53 | 0.35 | 0.34 | 0.37 | 0.64 |
| PB Ratio | 1.03 | 0.91 | 0.70 | 0.89 | 0.85 | 1.55 |
| P/TBV Ratio | 1.03 | 0.91 | 0.70 | 0.89 | 0.85 | 1.55 |
| P/FCF Ratio | 4.48 | |||||
| P/OCF Ratio | 14.71 | 3.25 | 9.95 | |||
| PEG Ratio | 1.18 | 1.18 | 1.18 | 1.18 | 1.18 | |
| EV/Sales Ratio | 0.82 | 0.76 | 0.65 | 0.61 | 0.70 | 0.92 |
| EV/EBITDA Ratio | 25.69 | 16.09 | 11.96 | 8.04 | 14.14 | 20.27 |
| EV/EBIT Ratio | 60.14 | 34.50 | 12.11 | 29.60 | 44.03 | |
| EV/FCF Ratio | 8.36 | |||||
| Debt / Equity Ratio | 0.47 | 0.48 | 0.40 | 0.70 | 0.67 | 0.68 |
| Debt / EBITDA Ratio | 8.08 | 5.92 | 3.58 | 3.51 | 5.78 | 6.08 |
| Debt / FCF Ratio | 2.52 | |||||
| Net Debt / Equity Ratio | 0.47 | 0.48 | 0.40 | 0.70 | 0.66 | 0.68 |
| Net Debt / EBITDA Ratio | 8.08 | 5.92 | 3.61 | 3.54 | 5.85 | 6.20 |
| Net Debt / FCF Ratio | -6.25 | -4.18 | 2.52 | -9.09 | -10.32 | -4.39 |
| Asset Turnover | 1.05 | 1.05 | 1.07 | 1.25 | 1.15 | 1.26 |
| Inventory Turnover | 1.64 | 1.52 | 1.61 | 2.10 | 1.99 | 2.17 |
| Quick Ratio | 0.51 | 0.40 | 0.39 | 0.40 | 0.32 | 0.37 |
| Current Ratio | 1.71 | 2.30 | 1.98 | 1.61 | 1.52 | 1.58 |
| Return on Equity (ROE) | -3.01% | 8.15% | -0.80% | 6.69% | 3.48% | 2.10% |
| Return on Assets (ROA) | -0.06% | 0.83% | 1.26% | 3.96% | 1.69% | 1.65% |
| Return on Invested Capital (ROIC) | -0.11% | 1.14% | 2.51% | 5.59% | 2.85% | 2.57% |
| Return on Capital Employed (ROCE) | -0.10% | 1.80% | 3.20% | 10.20% | 4.10% | 4.00% |
| Earnings Yield | -3.24% | 8.59% | 3.60% | 2.59% | 1.03% | 1.32% |
| FCF Yield | -7.34% | -12.71% | 22.30% | -8.69% | -7.58% | -10.01% |
| Buyback Yield / Dilution | -1.68% | -0.78% | -1.00% | -6.26% | -4.26% | -2.76% |
| Total Shareholder Return | -1.68% | -0.78% | -1.00% | -6.26% | -4.26% | -2.76% |