A Business at a Glance
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ARTS WAY MANUFACTURING CO INC
ARTW
$11M
Mkt Cap
$2.19
+1.86%
ARTS WAY MANUFACTURING CO INC (ARTW) has a current P/E ratio of 4.1, compared to its historical median P/E of 33.8. The stock is currently considered Cheap based on its historical valuation range.
ARTS WAY MANUFACTURING CO INC (ARTW) has a 5-year average return on invested capital (ROIC) of 5.0%. This is below average and may indicate limited pricing power.
ARTS WAY MANUFACTURING CO INC (ARTW) has a market capitalization of $12M. It is classified as a small-cap stock.
ARTS WAY MANUFACTURING CO INC (ARTW) does not currently pay a regular dividend.
Based on historical P/E analysis, ARTS WAY MANUFACTURING CO INC (ARTW) appears cheap. The current P/E of 4.1 is 88% below its historical median of 33.8. The estimated fair value CAGR (P/E method) is 97.0%.
ARTS WAY MANUFACTURING CO INC (ARTW) operates in the Farm Machinery & Equipment industry, within the Industrials sector.
ARTS WAY MANUFACTURING CO INC (ARTW) reported annual revenue of $23 million in its most recent fiscal year, based on SEC EDGAR filings.
Art’s-Way Manufacturing Co., Inc., a Delaware corporation ("Art's-Way," “we,” “us,” “our,” and the “Company”), began operations as a farm equipment manufacturer in 1956. Since that time, we have become a worldwide manufacturer of agricultural equipment and specialized modular science and agricultural buildings. Our principal manufacturing plant and corporate headquarters is located in Armstrong, Iowa. We have organized our business into two operating segments. Management separately evaluates the financial results of each segment because each is a strategic business unit offering different products and requiring different technology and marketing strategies. Our Agricultural Products segment manufactures and distributes farm equipment under the Art’s-Way name. Our Modular Buildings segment manufactures modular buildings for various uses, commonly animal containment and research laboratories, through our wholly owned subsidiary, Art’s-Way Scientific, Inc., an Iowa corporation.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 24M | 23M | 24M | 30M | 26M | 25M |
| Net Income | 1.3M | 1.0M | 307K | 267K | 98K | 213K |
| EPS | $0.25 | $0.20 | $0.06 | $0.05 | $0.02 | $0.05 |
| Free Cash Flow | -1.4M | -1.5M | 1.9M | -897K | -718K | -1.6M |
| ROIC | 2.8% | 7.0% | 3.2% | 7.6% | 3.8% | 3.2% |
| Gross Margin | 27.3% | 27.3% | 29.8% | 28.3% | 27.1% | 26.4% |
| Debt/Equity | 0.18 | 0.19 | 0.17 | 0.24 | 0.25 | 0.26 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 617K | 289K | 461K | 1.5M | 605K | 523K |
| Operating Margin | 2.5% | 1.3% | 1.9% | 5.1% | 2.4% | 2.1% |
| ROE | 9.5% | 8.1% | 2.6% | 2.3% | 0.9% | 2.1% |
| Shares Outstanding | 5M | 5M | 5M | 5M | 5M | 4M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 36M | 26M | 22M | 21M | 20M | 23M | 22M | 25M | 26M | 30M | 24M | 23M | 24M |
| Gross Margin | 24.1% | 26.3% | 24.7% | 19.7% | 17.8% | 17.2% | 10.7% | 26.4% | 27.1% | 28.3% | 29.8% | 27.3% | 27.3% |
| R&D | 191K | 162K | 140K | 183K | 178K | 149K | 199K | 152K | 193K | 204K | 216K | 228K | 228K |
| SG&A | 4.2M | 3.9M | 3.4M | 3.3M | 3.4M | 3.3M | 4.2M | 3.6M | 3.8M | 4.3M | 4.8M | 4.2M | 4.2M |
| EBIT | 1.7M | -77K | -431K | -1.7M | -3.1M | -1.5M | -3.9M | 523K | 605K | 1.5M | 461K | 289K | 617K |
| Op. Margin | 4.6% | -0.3% | -2.0% | -8.3% | -15.7% | -6.5% | -17.4% | 2.1% | 2.4% | 5.1% | 1.9% | 1.3% | 2.5% |
| Net Income | 935K | -558K | -821K | -1.6M | -3.4M | -1.4M | -2.1M | 213K | 98K | 267K | 307K | 1.0M | 1.3M |
| Net Margin | 2.6% | -2.1% | -3.8% | -7.9% | -17.2% | -6.2% | -9.4% | 0.9% | 0.4% | 0.9% | 1.3% | 4.5% | 5.3% |
| Non-Recurring | 6K | 495K | 17K | 4K | 380K | 89K | 531K | 657K | 359K | 219K | 5K | 46K | 46K |
| Returns on Capital | |||||||||||||
| ROIC | 4.2% | -0.3% | -4.0% | -8.7% | -19.7% | -9.6% | -15.7% | 3.2% | 3.8% | 7.6% | 3.2% | 7.0% | 2.8% |
| ROE | 5.0% | -3.0% | -4.6% | -9.8% | -23.3% | -11.4% | -19.4% | 2.1% | 0.9% | 2.3% | 2.6% | 8.1% | 9.5% |
| ROA | 2.9% | -1.7% | -2.8% | -6.3% | -14.8% | -7.0% | -11.0% | 1.1% | 0.4% | 1.1% | 1.3% | 4.7% | 5.2% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 1.9M | 285K | 2.4M | 747K | -1.1M | 808K | -856K | -986K | 952K | -55K | 2.6M | -904K | -654K |
| Free Cash Flow | 1.3M | 46K | 2.1M | 234K | -1.9M | 361K | -1.5M | -1.6M | -718K | -897K | 1.9M | -1.5M | -1.4M |
| Owner Earnings | 1.0M | -566K | 1.6M | -68K | -2.3M | -391K | -1.9M | -1.9M | 3K | -1.1M | 1.6M | -1.9M | -1.6M |
| CapEx | 633K | 239K | 274K | 514K | 764K | 447K | 693K | 620K | 1.7M | 842K | 725K | 628K | 721K |
| Maint. CapEx | 907K | 822K | 672K | 702K | 961K | 1.0M | 818K | 613K | 661K | 774K | 868K | 792K | 789K |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7K | 1.0M | 67K | 0 | 0 | 0 |
| D&A | 907K | 822K | 672K | 702K | 961K | 1.0M | 818K | 613K | 661K | 774K | 868K | 792K | 789K |
| CapEx/OCF | 32.6% | 83.9% | 11.5% | 68.7% | N/A | 55.3% | N/A | N/A | 175.4% | N/A | 27.6% | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 202K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | 1.1% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 6K | 21K | 19K | 31K | 30K | 92K | 69K | 38K | 2K | 0 |
| Buyback Yield | N/A | N/A | N/A | 0.1% | 0.2% | 0.2% | 0.3% | 0.2% | 0.9% | 0.6% | 0.4% | 0.0% | 0.0% |
| Stock-Based Comp | 15K | 28K | 80K | 113K | 197K | 195K | 248K | 266K | 288K | 292K | 183K | 179K | 178K |
| Debt Repayment | 1.2M | 1.2M | 1.9M | 2.8M | 219K | 314K | 85K | 90K | 94K | 99K | 644K | 122K | 122K |
| Balance Sheet | |||||||||||||
| Net Debt | 9.3M | 8.6M | 2.1M | 2.8M | 2.7M | 2.4M | 2.8M | 2.7M | 2.8M | 2.7M | 2.1M | 2.5M | 2.4M |
| Cash & Equiv. | 512K | 447K | 1.1M | 212K | 4K | 3K | 3K | 3K | 5K | 4K | 2K | 5K | 3K |
| Long-Term Debt | 5.9M | 3.9M | 1.4M | 2.7M | 2.5M | 2.4M | 2.7M | 2.6M | 2.7M | 2.6M | 2.0M | 2.3M | 2.3M |
| Debt/Equity | 0.51 | 0.49 | 0.18 | 0.19 | 0.21 | 0.21 | 0.29 | 0.26 | 0.25 | 0.24 | 0.17 | 0.19 | 0.18 |
| Interest Coverage | 4.7 | -0.3 | -1.7 | -5.4 | -10.2 | -4.2 | -12.8 | 1.7 | 1.5 | 2.6 | 0.8 | 0.8 | 1.5 |
| Equity | 19M | 19M | 17M | 16M | 13M | 12M | 9.9M | 10M | 11M | 12M | 12M | 13M | 14M |
| Total Assets | 33M | 31M | 27M | 24M | 21M | 19M | 19M | 21M | 24M | 24M | 21M | 22M | 25M |
| Total Liabilities | 14M | 13M | 9.8M | 8.4M | 8.3M | 7.6M | 8.9M | 10M | 13M | 13M | 9.1M | 9.2M | 11M |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | 17M | 16M | 15M | 13M | 10.0M | 8.5M | 6.4M | 6.7M | 6.8M | 7.0M | 7.3M | 8.4M | 8.6M |
| Working Capital | 14M | 13M | 11M | 9.4M | 6.4M | 6.2M | 4.1M | 4.5M | 4.9M | 5.7M | 6.5M | 8.3M | 8.6M |
| Current Assets | 20M | 20M | 18M | 14M | 12M | 11M | 10M | 12M | 14M | 15M | 13M | 15M | 17M |
| Current Liabilities | 6.5M | 7.3M | 7.1M | 5.0M | 5.8M | 5.2M | 6.2M | 7.7M | 9.3M | 9.4M | 6.6M | 6.4M | 8.4M |
| Per Share Data | |||||||||||||
| EPS | 0.23 | -0.14 | -0.20 | -0.39 | -0.81 | -0.33 | -0.48 | 0.05 | 0.02 | 0.05 | 0.06 | 0.20 | 0.25 |
| Owner EPS | 0.25 | -0.14 | 0.40 | -0.02 | -0.54 | -0.09 | -0.44 | -0.44 | 0.00 | -0.21 | 0.31 | -0.36 | -0.31 |
| Book Value | 4.73 | 4.65 | 4.26 | 3.81 | 3.12 | 2.74 | 2.26 | 2.43 | 2.28 | 2.18 | 2.36 | 2.57 | 2.56 |
| Cash Flow/Share | 0.48 | 0.07 | 0.58 | 0.18 | -0.27 | 0.19 | -0.20 | -0.23 | 0.19 | -0.01 | 0.51 | -0.17 | 0.39 |
| Dividends/Share | N/A | 0.05 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 4.1M | 4.0M | 4.1M | 4.2M | 4.2M | 4.3M | 4.4M | 4.3M | 4.9M | 5.3M | 5.1M | 5.2M | 5.3M |
| Valuation | |||||||||||||
| P/E Ratio | 22.7 | N/A | N/A | N/A | N/A | N/A | N/A | 74.6 | 100.0 | 40.0 | 27.7 | 11.8 | 8.9 |
| P/FCF | 16.3 | 266.7 | 6.0 | 49.4 | N/A | 22.5 | N/A | N/A | N/A | N/A | 4.5 | N/A | N/A |
| EV/EBIT | 18.1 | N/A | N/A | N/A | N/A | N/A | N/A | 43.2 | 27.4 | 11.7 | 27.4 | 62.3 | 22.8 |
| Price/Book | 1.1 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 1.1 | 1.5 | 0.9 | 0.9 | 0.7 | 0.9 | 0.9 |
| Price/Sales | 0.6 | 0.7 | 0.6 | 0.6 | 0.6 | 0.4 | 0.4 | 0.6 | 0.6 | 0.4 | 0.4 | 0.5 | 0.5 |
| FCF Yield | 6.2% | 0.4% | 16.6% | 2.0% | -19.8% | 4.4% | -13.7% | -10.1% | -7.3% | -8.4% | 22.4% | -12.5% | -11.9% |
| Market Cap | 21M | 12M | 13M | 12M | 9.5M | 8.1M | 11M | 16M | 9.8M | 11M | 8.5M | 12M | 12M |
| Avg. Price | 5.69 | 4.46 | 2.95 | 3.00 | 2.67 | 2.07 | 2.16 | 3.31 | 3.01 | 2.33 | 1.84 | 2.20 | 2.19 |
| Year-End Price | 5.23 | 3.08 | 3.10 | 2.75 | 2.28 | 1.89 | 2.59 | 3.73 | 2.00 | 2.00 | 1.66 | 2.36 | 2.19 |
ARTS WAY MANUFACTURING CO INC passes 4 of 9 quality checks, suggesting mixed fundamentals.
ARTS WAY MANUFACTURING CO INC trades at 4.1x trailing earnings, compared to its 15-year median P/E of 33.8x, suggesting it is currently Cheap relative to its historical range. The company's 5-year average ROIC is 5.0% with a gross margin of 27.8%. At current prices, the estimated annualized return to fair value is +38.3%.
ARTS WAY MANUFACTURING CO INC (ARTW) has a net profit margin of 4.5%. This is a modest margin.
ARTS WAY MANUFACTURING CO INC (ARTW) generated $-2 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
ARTS WAY MANUFACTURING CO INC (ARTW) has a debt-to-equity ratio of 0.19. This indicates a conservatively financed balance sheet.
ARTS WAY MANUFACTURING CO INC (ARTW) reported earnings per share (EPS) of $0.20 in its most recent fiscal year.
ARTS WAY MANUFACTURING CO INC (ARTW) has a return on equity (ROE) of 8.1%. This indicates moderate shareholder returns.
ARTS WAY MANUFACTURING CO INC (ARTW) has a 5-year average gross margin of 27.8%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 16 years of financial data for ARTS WAY MANUFACTURING CO INC (ARTW), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
ARTS WAY MANUFACTURING CO INC (ARTW) has a book value per share of $2.57, based on its most recent annual SEC filing.
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