# Art's-Way Manufacturing Co., Inc. (ARTW)

**Exchange:** NASDAQ  
**Sector:** Industrials  
**Market cap:** $13M  
**Price:** $2.64 (-1.49%)

> Art's-Way Manufacturing Co., Inc. is a manufacturer and distributor of agricultural equipment and specialized modular buildings. It operates through two primary segments: Agricultural Products and Modular Buildings. The Agricultural Products segment produces a range of specialized farm machinery, including portable and stationary animal feed processing equipment with related attachments for milling and mixing feed grains, hay and forage tools such as forage boxes, bale processors, running gears, and dump boxes, manure spreaders, sugar beet harvesting equipment, and dirt work tools. These products are sold worldwide along with replacement parts. The Modular Buildings segment designs, manufactures, delivers, installs, and rents custom modular structures for animal containment and laboratory applications tailored to specific research needs. Art's-Way Manufacturing Co., Inc. serves the agricultural and scientific sectors by providing durable, market-responsive equipment and facilities that support farming operations and research activities. Founded in 1956 and headquartered in Armstrong, Iowa, the company focuses on delivering high-quality products and services to agricultural producers and related industries.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $23M | $6M | $289,455 | $1M | — |
| 2024 | $24M | $7M | $460,697 | $307,375 | — |
| 2023 | $30M | $9M | $2M | $266,969 | — |
| 2022 | $26M | $7M | $604,718 | $97,797 | — |
| 2021 | $25M | $7M | $523,408 | $212,631 | — |
| 2020 | $22M | $2M | -$4M | -$2M | — |
| 2019 | $23M | $4M | -$1M | -$1M | — |
| 2018 | $20M | $4M | -$3M | -$3M | — |
| 2017 | $21M | $4M | -$2M | -$2M | — |
| 2016 | $22M | $5M | -$431,447 | -$821,334 | — |
| 2015 | $26M | $7M | -$76,812 | -$557,842 | — |
| 2014 | $36M | $9M | $2M | $935,247 | — |
| 2013 | $34M | $8M | $2M | $2M | — |
| 2012 | $36M | $10M | $4M | $3M | — |
| 2011 | $28M | $7M | $2M | $1M | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $22M | $9M | $13M | $4,849 | $2M |
| 2024 | $21M | $9M | $12M | $1,860 | $2M |
| 2023 | $24M | $13M | $12M | $4,014 | $3M |
| 2022 | $24M | $13M | $11M | $5,055 | $3M |
| 2021 | $21M | $10M | $10M | $2,658 | $3M |
| 2020 | $19M | $9M | $10M | $2,684 | $3M |
| 2019 | $19M | $8M | $12M | $3,145 | $2M |
| 2018 | $21M | $8M | $13M | $3,512 | $3M |
| 2017 | $24M | $8M | $16M | $212,400 | $4M |
| 2016 | $27M | $10M | $17M | $1M | $4M |
| 2015 | $31M | $13M | $19M | $447,231 | $6M |
| 2014 | $33M | $14M | $19M | $511,716 | $7M |
| 2013 | $33M | $14M | $18M | $207,950 | $7M |
| 2012 | $31M | $14M | $17M | $2M | $8M |
| 2011 | $26M | $11M | $15M | $118,928 | $6M |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | -$904,143 | $627,615 | -$2M |
| 2024 | $3M | $724,679 | $2M |
| 2023 | -$55,194 | $841,784 | -$896,978 |
| 2022 | $951,721 | $2M | -$717,760 |
| 2021 | -$985,854 | $620,284 | -$2M |
| 2020 | -$856,314 | $693,414 | -$2M |
| 2019 | $807,753 | $447,025 | $360,728 |
| 2018 | -$1M | $434,505 | -$2M |
| 2017 | $747,399 | $513,614 | $233,785 |
| 2016 | $2M | $274,089 | $2M |
| 2015 | $284,931 | $238,923 | $46,008 |
| 2014 | $2M | $633,078 | $1M |
| 2013 | -$2,344 | $842,124 | -$844,468 |
| 2012 | $5M | $799,598 | $4M |
| 2011 | $2M | $859,324 | $2M |

Source: [CompaniesByCap](https://companiesbycap.com/company/ARTW)