Logo

ARTW

Art's-Way Manufacturing Co., Inc.

ARTW

Art's-Way Manufacturing Co., Inc. • NASDAQ
$2.38 ▲ 1.50% (+0.04)
Market Cap $12.13 M
52w High $4.71
52w Low $1.43
Dividend Yield 0%
P/E 6.09
Volume 14.53K
Outstanding Shares 5.11M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $6.432M ▲ $1.421M ▼ $254.11K ▼ 3.951% ▼ $0.05 ▼ $600.942K ▼
Q2-2025 $6.337M ▲ $1.549M ▲ $1.482M ▲ 23.386% ▲ $0.29 ▲ $2.196M ▲
Q1-2025 $5.141M ▼ $1.494M ▼ $-55.757K ▼ -1.085% ▼ $-0.011 ▼ $2.485K ▼
Q4-2024 $6.17M ▲ $1.711M ▲ $831.927K ▲ 13.483% ▲ $0.029 ▲ $769.54K ▲
Q3-2024 $5.876M $1.546M $-26.2K -0.446% $-0.005 $378.524K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $5.96K ▲ $21.816M ▲ $7.902M ▲ $13.914M ▲
Q2-2025 $4.534K ▲ $20.879M ▼ $7.257M ▼ $13.623M ▲
Q1-2025 $4.133K ▲ $21.005M ▼ $8.924M ▼ $12.081M ▼
Q4-2024 $1.86K ▼ $21.241M ▼ $9.147M ▼ $12.094M ▲
Q3-2024 $5.119K $23.471M $12.205M $11.267M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $254.11K ▼ $-1.267M ▼ $-252.228K ▼ $1.521M ▲ $1.426K ▲ $-1.529M ▼
Q2-2025 $1.482M ▲ $1.354M ▲ $-130.711K ▼ $-1.223M ▼ $401 ▼ $1.223M ▲
Q1-2025 $-55.757K ▼ $-101.805K ▼ $-82.73K ▼ $186.808K ▲ $2.273K ▲ $-184.535K ▼
Q4-2024 $332.191K ▲ $1.197M ▲ $1.575M ▲ $-2.775M ▼ $-3.259K ▼ $1.086M ▲
Q3-2024 $2.259K $282.362K $-101.02K $-180.71K $632 $180.542K

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Farm Equipment
Farm Equipment
 $0 ▲$0 ▲$0 ▲$0 ▲
Farm Equipment Service Parts
Farm Equipment Service Parts
 $0 ▲$0 ▲$0 ▲$0 ▲
Modular Buildings
Modular Buildings
 $0 ▲$0 ▲$0 ▲$0 ▲
Modular Buildings Lease Income
Modular Buildings Lease Income
 $0 ▲$0 ▲$0 ▲$0 ▲
Product and Service Other
Product and Service Other
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been fairly small and mostly flat over the past few years, with a modest bump during the middle of the period and a step back more recently. The company has managed to keep a positive gross profit after recovering from very thin margins earlier on. Bottom-line results hover around break-even but have improved from a loss several years ago to small profits more recently. Overall, the income statement shows a business that is stabilizing and slowly improving profitability, but still operating close to the edge rather than generating comfortable earnings.

Balance Sheet

Balance Sheet The balance sheet looks compact and steady, with total assets and equity holding relatively stable over the period. Debt has been worked down from earlier years, which reduces financial risk, but the cash position appears lean, meaning there is not a large liquidity cushion. This combination suggests a company that has been cautiously de-risking its balance sheet but still does not have a lot of room for major shocks or aggressive expansion without external funding.

Cash Flow

Cash Flow Reported operating and free cash flows are roughly around break-even over the past five years, which is consistent with the near break-even earnings profile. The business seems able to sustain itself but is not yet throwing off significant surplus cash for reinvestment or debt reduction. This makes execution on cost savings, efficiency gains, and growth initiatives especially important, because there is limited internal cash flow to absorb missteps or delays.

Competitive Edge

Competitive Edge Art’s-Way operates in specialized corners of agricultural equipment, modular buildings, and cutting tools rather than trying to compete head-on with the largest machinery manufacturers. Its strength lies in niche leadership: sugar beet harvesters with unique cleaning systems, complete harvesting solutions, and specialized modular research buildings. The long operating history and reputation for durable equipment support customer loyalty. Diversification across agriculture, modular labs, and cutting tools helps balance volatility in any single market. However, the company is still small relative to industry giants, so it must rely on focus, customization, and service rather than scale.

Innovation and R&D

Innovation and R&D Innovation is a clear emphasis. The company continually refines equipment (such as manure spreaders with precision controls, adaptive leveling technology on harvesters, and high-capacity dump carts) and expands its modular lab capabilities, which offer faster, more flexible, and often cheaper alternatives to traditional construction. Investments in new equipment and product development are aimed at cutting production costs and speeding time-to-market. The modular buildings segment, particularly for research and biocontainment labs, showcases higher-value, technically demanding solutions where Art’s-Way can differentiate rather than just compete on price.

Summary

Art’s-Way looks like a focused, niche industrial player with a long history, slowly improving profitability, and a relatively clean but lean balance sheet. Financial results show a business that has moved from loss-making to modest profitability but without yet achieving strong scale or cash generation. Its real potential lies in specialized innovation—especially in sugar beet equipment and modular research buildings—and diversification across multiple industrial niches. Future performance will depend heavily on successful execution of product launches, cost reductions, and continued growth in the modular building segment, all while navigating the cyclical and sometimes volatile agricultural markets.

NEWS

October 7, 2025 · 9:00 AM UTC

Art's Way Reports Improved Results With Modular Buildings Growth Offsetting Ag Market Challenges

Read more