ARTW

MKT CAP:$16M

Art's-Way Manufacturing Co., Inc.

Market Cap

$16M

Industrials·Agricultural - Machinery·🇺🇸 United States·NASDAQ

Industrials·Agricultural·🇺🇸·NASDAQ

Stock Price

$2.90+$0.59 (+25.54%)

Apr 22, 2026

Company Details

Art's-Way Manufacturing Co., Inc. manufactures and sells agricultural equipment, specialized modular science buildings, and steel cutting tools in the United States and internationally. The company operates through three segments: Agricultu...

CEO

Marc H. McConnell

IPO Date

Mar 17, 1980

Website

www.artsway-mfg.com

Key Metrics TTM

Revenue

$24M

-12.0% YoY

Net Income

$1M

EPS (Diluted)

$0.25

Free Cash Flow

-$1M

Revenue / Share

$4.76

Gross Margin

26.9%

Operating Margin

2.5%

Net Margin

5.3%

FCF Margin

-5.6%

P/S

0.6x

P/E

12.0x

Earnings Reports

Q1 2026

Apr 13, 2026

NEW

$7M+29.2%EPS $0.04

FY 2025

Feb 12, 2026

$23MEPS $0.20

Q4 2025

Feb 12, 2026

$5MEPS -$0.13

Q3 2025

Oct 14, 2025

$6MEPS $0.05

Q2 2025

Jul 14, 2025

$6MEPS $0.29

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 20	$5M	-$497.2K	-$2M
Q1 21	$5M	$1M	-$368.5K
Q2 21	$6M	$2M	$148.8K
Q3 21	$7M	$2M	$160.2K
Q4 21	$7M	$2M	$582.9K
Q1 22	$6M	$1M	-$436.9K
Q2 22	$7M	$2M	$321.1K
Q3 22	$7M	$2M	$500.3K
Q4 22	$7M	$2M	$17.9K
Q1 23	$7M	$2M	$543.4K
Q2 23	$8M	$2M	$433.0K
Q1 25	$5M	$1M	$2.5K
Q2 25	$6M	$2M	$510.0K
Q3 25	$6M	$2M	$345.0K
Q4 25	$5M	$857.0K	-$568.4K
Q1 26	$7M	$2M	$330.0K

Valuation

Quarter	P/S	P/E
Q4 20	0.5x	—
Q1 21	0.6x	—
Q2 21	0.6x	—
Q3 21	0.7x	—
Q4 21	0.7x	76.7x
Q1 22	0.7x	150.0x
Q2 22	0.4x	51.7x
Q3 22	0.4x	27.9x
Q4 22	0.4x	101.0x
Q1 23	0.4x	12.2x
Q2 23	0.4x	12.9x
Q1 25	0.3x	11.7x
Q2 25	0.3x	4.3x
Q3 25	0.6x	8.3x
Q4 25	0.5x	11.0x
Q1 26	0.5x	9.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 20	-$497.4K	-$576.3K
Q1 21	$681.3K	$517.4K
Q2 21	-$2M	-$2M
Q3 21	$92.3K	-$76.3K
Q4 21	$261.9K	$129.1K
Q1 22	$1M	$994.7K
Q2 22	-$1M	-$2M
Q3 22	$478.9K	-$135.5K
Q4 22	$754.1K	$194.5K
Q1 23	$1M	$972.5K
Q2 23	-$2M	-$2M
Q1 25	-$101.8K	-$184.5K
Q2 25	$1M	$1M
Q3 25	-$1M	-$2M
Q4 25	-$889.2K	-$1M
Q1 26	$148.4K	-$28.0K

Capital Expenditures

Quarter	CapEx
Q4 20	$79.0K
Q1 21	$163.9K
Q2 21	$155.0K
Q3 21	$168.6K
Q4 21	$132.8K
Q1 22	$174.1K
Q2 22	$335.0K
Q3 22	$614.3K
Q4 22	$559.6K
Q1 23	$296.1K
Q2 23	$327.7K
Q1 25	$82.7K
Q2 25	$130.7K
Q3 25	$261.3K
Q4 25	$152.8K
Q1 26	$176.4K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 20	-27.2%	-1.8%
Q1 21	+7.5%	+5.0%
Q2 21	+4.9%	-12.7%
Q3 21	+2.0%	-7.8%
Q4 21	+32.7%	-10.6%
Q1 22	+3.9%	+4.9%
Q2 22	+27.4%	+25.0%
Q3 22	+13.4%	+8.5%
Q4 22	+1.5%	+10.1%
Q1 23	+26.3%	+8.2%
Q2 23	+13.0%	+12.0%
Q1 25	-31.2%	-26.3%
Q2 25	-14.0%	-20.8%
Q3 25	-9.2%	-7.0%
Q4 25	-38.4%	-27.7%
Q1 26	+29.2%	+22.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 20	$52.0K	0.9%
Q1 21	$62.1K	1.1%
Q2 21	$79.7K	1.4%
Q3 21	$61.4K	0.9%
Q4 21	$62.3K	0.9%
Q1 22	$70.0K	1.2%
Q2 22	$87.5K	1.2%
Q3 22	$66.8K	0.9%
Q4 22	$63.4K	0.9%
Q1 23	$68.9K	1.0%
Q2 23	$68.8K	0.8%
Q1 25	$44.2K	0.9%
Q2 25	$59.9K	0.9%
Q3 25	$36.9K	0.6%
Q4 25	$38.0K	0.7%
Q1 26	$42.9K	0.6%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q4 20	$115.5K	$992.6K	$396.8K
Q1 21	$121.4K	$816.8K	$473.0K
Q2 21	$122.1K	$907.2K	$544.0K
Q3 21	$143.6K	$902.4K	$532.2K
Q4 21	$117.9K	$927.5K	$465.0K
Q1 22	$134.1K	$1M	$487.2K
Q2 22	$143.9K	$1M	$630.8K
Q3 22	$168.1K	$873.5K	$417.8K
Q4 22	$134.4K	$1M	$573.4K
Q1 23	$128.3K	$983.7K	$531.5K
Q2 23	$140.5K	$1M	$511.0K
Q1 25	$85.2K	$1M	$350.0K
Q2 25	$84.1K	$1M	$435.9K
Q3 25	$87.3K	$983.3K	$350.8K
Q4 25	$87.3K	$1M	$302.9K
Q1 26	$106.5K	$1M	$436.7K

Revenue Segments

Quarter	Farm Equipment	Farm Equipment Service Parts	Modular Buildings	Product and Service, Other	Modular Buildings Lease Income
Q3 22	$6M	$594.0K	$1M	$189.0K	—
Q1 23	$5M	$630.0K	$2M	$101.0K	$32.0K
Q1 25	$2M	$883.0K	$2M	$99.0K	$46.0K
Q2 25	$3M	$603.0K	$2M	$131.0K	$26.0K
Q3 25	$2M	$1M	$3M	$78.0K	$3.0K
Q1 26	$3M	$790.0K	$3M	$85.0K	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$5.0K	$0	$5.0K
Q3 22	$4.1K	$0	$4.1K
Q4 22	$5.1K	$0	$5.1K
Q1 23	$4.0K	$0	$4.0K
Q2 23	$2.3K	$0	$2.3K
Q3 23	$4.2K	$0	$4.2K
Q4 23	$4.0K	$0	$4.0K
Q1 24	$2.5K	$0	$2.5K
Q2 24	$4.5K	$0	$4.5K
Q3 24	$5.1K	$0	$5.1K
Q4 24	$1.9K	$0	$1.9K
Q1 25	$4.1K	$0	$4.1K
Q2 25	$4.5K	$0	$4.5K
Q3 25	$6.0K	$0	$6.0K
Q4 25	$4.8K	$0	$4.8K
Q1 26	$2.9K	$0	$2.9K

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 20	4M	+1.1%	+3.7%
Q1 21	4M	0.0%	+3.7%
Q2 21	5M	+1.1%	+2.7%
Q3 21	5M	+0.1%	+2.3%
Q4 21	5M	0.0%	+1.2%
Q1 22	5M	+0.9%	+2.1%
Q2 22	5M	+1.3%	+2.4%
Q3 22	5M	+1.5%	+3.8%
Q4 22	5M	+5.3%	+9.3%
Q1 23	5M	+0.6%	+8.9%
Q2 23	5M	+0.7%	+8.3%
Q1 25	5M	+0.8%	+7.5%
Q2 25	5M	+0.8%	+2.9%
Q3 25	5M	+0.2%	+2.6%
Q4 25	5M	-0.3%	+1.6%
Q1 26	5M	+0.9%	+1.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 20	$65.2K	84
Q1 21	$64.3K	84
Q2 21	$68.0K	84
Q3 21	$78.5K	84
Q4 21	$78.9K	92
Q1 22	$61.0K	92
Q2 22	$79.1K	92
Q3 22	$81.3K	92
Q4 22	$76.0K	97
Q1 23	$73.1K	97
Q2 23	$84.8K	97
Q1 25	$75.6K	68
Q2 25	$93.2K	68
Q3 25	$94.6K	68
Q4 25	$76.7K	66
Q1 26	$100.6K	66

Revenue / Employee