Art's-Way Manufacturing Co., Inc. (ARTW) Balance Sheet
ARTW balance sheet, FY2025
November 30, 2025 · U.S. dollars$22.5M assets = $9.2M liabilities + $13.3M equity
Both columns are drawn to the same scale: what ARTW owns equals what it owes plus shareholders’ equity. Hover a block for its value.
ARTW financial health
Descriptive bands, not a rating. Fiscal FY2025.
ARTW balance sheet trends, FY2016–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $27.2MFY2016 | $22.5MFY2025 | −2.1%/yr | |
| Total liabilities | $9.8MFY2016 | $9.2MFY2025 | −0.7%/yr | |
| Shareholders’ equity | $17.5MFY2016 | $13.3MFY2025 | −3.0%/yr | |
| Cash & short-term investments | $1.1MFY2016 | $4,849FY2025 | −45.1%/yr | |
| Total debt | $6.5MFY2016 | $6.4MFY2025 | −0.1%/yr | |
| Net cash (debt) | −$5.4MFY2016 | −$6.4MFY2025 | −$986,463 | |
| Working capital | $10.6MFY2016 | $8.3MFY2025 | −$2.2M | |
| Book value per share | $4.26FY2016 | $2.61FY2025 | −5.3%/yr | |
| Current ratio | 2.50FY2016 | 2.30FY2025 | −0.20 | |
| Debt / equity | 0.37FY2016 | 0.48FY2025 | +0.11 | |
| Shares outstanding | 4.1MFY2016 | 5.1MFY2025 | +2.4%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ARTW assets
ARTW liabilities and equity
ARTW debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
ARTW balance sheet
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $4,849 | $1,860 | $4,014 | $5,055 | $2,658 | $2,684 | $3,145 | $3,512 | $212,400 | $1.1M |
| Cash & equivalents | $4,849 | $1,860 | $4,014 | $5,055 | $2,658 | $2,684 | $3,145 | $3,512 | $212,400 | $1.1M |
| Short-term investments | — | — | — | — | — | $28,352 | $148,005 | $123,055 | $0 | $0 |
| Receivables | $2.6M | $2.6M | $3.7M | $2.7M | $2.8M | $2.5M | $2.6M | $1.8M | $2.0M | $1.8M |
| Inventory | $11.7M | $10.3M | $11.0M | $10.6M | $9.2M | $7.8M | $8.8M | $10.3M | $12.0M | $13.5M |
| Other current assets | $487,020 | $208,465 | $328,620 | $794,524 | $121,170 | $61,284 | $70,931 | $125,089 | $278,209 | $1.2M |
| Total current assets | $14.8M | $13.1M | $15.1M | $14.1M | $12.2M | $10.3M | $11.4M | $12.1M | $14.4M | $17.6M |
| Property, plant & equipment (net) | $5.1M | $5.2M | $5.1M | $6.6M | $5.8M | $5.7M | $6.1M | $7.5M | $7.2M | $7.4M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $750,000 | $750,000 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $5,782 | $153,787 | $0 | $0 |
| Other non-current assets | $2.6M | $3.0M | $4.2M | $3.2M | $2.9M | $2.8M | $1.9M | $1.5M | $2.0M | $1.5M |
| Total assets | $22.5M | $21.2M | $24.4M | $23.9M | $20.9M | $18.8M | $19.3M | $21.3M | $24.4M | $27.2M |
| Liabilities | ||||||||||
| Accounts payable | $902,326 | $944,448 | $2.3M | $2.5M | $1.7M | $2.0M | $1.2M | $802,062 | $673,653 | $469,481 |
| Short-term debt | $3.7M | $2.3M | $4.8M | $4.2M | $4.2M | $2.5M | $2.7M | $3.7M | $2.7M | $5.1M |
| Deferred revenue | $88,920 | $2.1M | $767,333 | $1.2M | $559,270 | $474,451 | $194,294 | $330,646 | $648,536 | $293,492 |
| Total current liabilities | $6.4M | $6.6M | $9.4M | $9.3M | $7.7M | $6.2M | $5.2M | $5.8M | $5.0M | $7.1M |
| Long-term debt | $2.3M | $2.0M | $2.6M | $2.9M | $2.6M | $2.7M | $2.4M | $2.5M | $2.7M | $1.4M |
| Lease obligations | $663,902 | $760,044 | $993,428 | $796,982 | $177,317 | $18,342 | — | — | — | — |
| Other long-term liabilities | $408,154 | $539,136 | $735,974 | $626,147 | $177,317 | $18,342 | $2 | $0 | $590,363 | $1.3M |
| Total liabilities | $9.2M | $9.1M | $12.8M | $12.8M | $10.5M | $8.9M | $7.6M | $8.3M | $8.4M | $9.8M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $52,254 | $51,492 | $51,069 | $50,137 | $45,835 | $44,700 | $43,211 | $42,250 | $41,587 | $41,091 |
| Retained earnings (deficit) | $8.4M | $7.3M | $7.0M | $6.8M | $6.7M | $6.4M | $8.5M | $10.0M | $13.4M | $15.0M |
| Treasury stock | — | — | — | — | — | −$78,054 | −$47,058 | −$27,735 | −$6,425 | $0 |
| Accumulated other comprehensive income | — | — | $0 | $0 | $0 | $0 | $0 | $0 | −$257,010 | −$302,232 |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $13.3M | $12.1M | $11.6M | $11.2M | $10.4M | $9.9M | $11.8M | $13.0M | $16.0M | $17.5M |
| Key figures | ||||||||||
| Total debt | $6.4M | $4.8M | $8.1M | $7.4M | $7.0M | $5.2M | $5.0M | $6.3M | $5.4M | $6.5M |
| Net cash (debt) | −$6.4M | −$4.8M | −$8.1M | −$7.4M | −$7.0M | −$5.2M | −$5.0M | −$6.3M | −$5.2M | −$5.4M |
| Working capital | $8.3M | $6.5M | $5.7M | $4.9M | $4.5M | $4.1M | $6.2M | $6.4M | $9.4M | $10.6M |
| Tangible book value | $13.3M | $12.1M | $11.6M | $11.2M | $10.4M | $9.9M | $11.8M | $13.0M | $15.2M | $16.7M |
| Book value per share | $2.61 | $2.39 | $2.33 | $2.37 | $2.29 | $2.25 | $2.76 | $3.10 | $3.85 | $4.26 |
| Shares outstanding | 5.1M | 5.1M | 5.0M | 4.7M | 4.5M | 4.4M | 4.3M | 4.2M | 4.2M | 4.1M |
| Current ratio | 2.30 | 1.98 | 1.61 | 1.53 | 1.58 | 1.67 | 2.19 | 2.11 | 2.86 | 2.50 |
| Quick ratio | 0.40 | 0.39 | 0.40 | 0.29 | 0.37 | 0.40 | 0.49 | 0.31 | 0.43 | 0.41 |
| Debt / equity | 0.48 | 0.40 | 0.70 | 0.66 | 0.68 | 0.52 | 0.43 | 0.48 | 0.34 | 0.37 |
| Equity / assets | 59.2% | 56.9% | 47.7% | 46.6% | 49.7% | 52.7% | 61.0% | 61.1% | 65.6% | 64.2% |
| Aug '26 | May '26 | Feb '26 | Nov '25 | Aug '25 | May '25 | Feb '25 | Nov '24 | Aug '24 | May '24 | Feb '24 | Nov '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $2,855 | $5,969 | $2,937 | $4,849 | $5,960 | $4,534 | $4,133 | $1,860 | $5,119 | $4,487 | $2,485 | $4,014 |
| Cash & equivalents | $2,855 | $5,969 | $2,937 | $4,849 | $5,960 | $4,534 | $4,133 | $1,860 | $5,119 | $4,487 | $2,485 | $4,014 |
| Receivables | $5.1M | $2.7M | $4.0M | $2.6M | $2.7M | $2.2M | $1.7M | $2.6M | $3.0M | $2.7M | $3.2M | $3.7M |
| Inventory | $11.5M | $11.5M | $12.1M | $11.7M | $11.2M | $10.8M | $10.9M | $10.3M | $10.7M | $10.5M | $11.0M | $11.0M |
| Other current assets | $674,390 | $1.8M | $873,947 | $487,020 | $254,410 | $330,148 | $419,933 | $208,465 | $383,911 | $438,945 | $552,595 | $328,620 |
| Total current assets | $17.3M | $16.0M | $17.0M | $14.8M | $14.2M | $13.3M | $13.0M | $13.1M | $14.0M | $13.6M | $14.7M | $15.1M |
| Property, plant & equipment (net) | $6.6M | $5.4M | $5.1M | $5.2M | $5.1M | $5.1M | $5.2M | $5.2M | $5.2M | $5.3M | $5.2M | $5.1M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $2.3M | $2.3M | $2.5M | $2.5M | $2.5M | $2.5M | $2.9M | $2.9M | $4.2M | $4.3M | $4.4M | $4.2M |
| Total assets | $26.2M | $23.7M | $24.6M | $22.5M | $21.8M | $20.9M | $21.0M | $21.2M | $23.5M | $23.2M | $24.3M | $24.4M |
| Liabilities | ||||||||||||
| Accounts payable | $1.2M | $1.5M | $1.7M | $902,326 | $1.2M | $1.2M | $945,216 | $944,448 | $870,275 | $1.0M | $1.1M | $2.3M |
| Short-term debt | $4.2M | $4.0M | $3.9M | $3.7M | $3.0M | $1.4M | $2.5M | $2.3M | $4.2M | $4.3M | $5.2M | $4.8M |
| Deferred revenue | $3.6M | $704,589 | $1.7M | — | $72,765 | $1.2M | $2.1M | $2.1M | $2.7M | $2.2M | $2.1M | $767,333 |
| Total current liabilities | $10.1M | $7.4M | $8.4M | $6.4M | $5.6M | $4.9M | $6.5M | $6.6M | $9.1M | $8.7M | $9.7M | $9.4M |
| Long-term debt | $0 | $2.2M | $2.3M | $2.3M | $1.9M | $1.9M | $1.9M | $2.0M | $2.5M | $2.6M | $2.6M | $2.6M |
| Lease obligations | — | $537,246 | $600,928 | $663,902 | $683,475 | $697,905 | $703,740 | $760,044 | $838,534 | $911,147 | $968,431 | $993,428 |
| Other long-term liabilities | $2.4M | $268,111 | $345,785 | $408,154 | $436,910 | $462,280 | $480,147 | $539,136 | $597,685 | $655,470 | $712,753 | $735,974 |
| Total liabilities | $12.5M | $9.9M | $11.0M | $9.2M | $7.9M | $7.3M | $8.9M | $9.1M | $12.2M | $11.9M | $13.0M | $12.8M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $53,207 | $53,157 | $52,957 | $52,254 | $52,204 | $52,217 | $52,000 | $51,492 | $51,892 | $51,842 | $51,809 | $51,069 |
| Retained earnings (deficit) | $8.6M | $8.7M | $8.6M | $8.4M | $9.0M | $8.8M | $7.3M | $7.3M | $6.5M | $6.5M | $6.6M | $7.0M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | $0 | $0 | $0 | $0 |
| Total shareholders' equity | $13.7M | $13.8M | $13.5M | $13.3M | $13.9M | $13.6M | $12.1M | $12.1M | $11.3M | $11.2M | $11.2M | $11.6M |
| Key figures | ||||||||||||
| Total debt | $6.5M | $6.4M | $6.5M | $6.4M | $5.4M | $3.8M | $5.0M | $4.8M | $7.4M | $7.6M | $8.6M | $8.1M |
| Net cash (debt) | −$6.5M | −$6.4M | −$6.5M | −$6.4M | −$5.4M | −$3.8M | −$5.0M | −$4.8M | −$7.4M | −$7.6M | −$8.6M | −$8.1M |
| Working capital | $7.2M | $8.6M | $8.6M | $8.3M | $8.6M | $8.4M | $6.5M | $6.5M | $5.0M | $4.9M | $5.0M | $5.7M |
| Tangible book value | $13.7M | $13.8M | $13.5M | $13.3M | $13.9M | $13.6M | $12.1M | $12.1M | $11.3M | $11.2M | $11.2M | $11.6M |
| Book value per share | $2.64 | $2.66 | $2.64 | $2.61 | $2.72 | $2.67 | $2.39 | $2.39 | $2.22 | $2.22 | $2.23 | $2.32 |
| Shares outstanding | 5.2M | 5.2M | 5.1M | 5.1M | 5.1M | 5.1M | 5.1M | 5.1M | 5.1M | 5.1M | 5.0M | 5.0M |
| Current ratio | 1.71 | 2.17 | 2.02 | 2.30 | 2.54 | 2.72 | 2.00 | 1.98 | 1.55 | 1.56 | 1.51 | 1.61 |
| Quick ratio | 0.51 | 0.37 | 0.48 | 0.40 | 0.48 | 0.45 | 0.26 | 0.39 | 0.33 | 0.31 | 0.33 | 0.40 |
| Debt / equity | 0.48 | 0.47 | 0.48 | 0.48 | 0.39 | 0.28 | 0.41 | 0.40 | 0.65 | 0.67 | 0.76 | 0.70 |
| Equity / assets | 52.3% | 58.3% | 55.1% | 59.2% | 63.8% | 65.2% | 57.5% | 56.9% | 48.0% | 48.5% | 46.2% | 47.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 12, 2026); data from EODHD.
ARTW financial position
At the end of fiscal 2025 (November 30, 2025), Art's-Way Manufacturing had total assets of $22.5 million (up 5.8% from a year earlier), total liabilities of $9.2 million and shareholders' equity of $13.3 million. It held $0.0 million in cash and short-term investments against $6.4 million of debt, net debt of $6.4 million. Its current ratio was 2.30. In the latest quarter (ended August 31, 2026) total assets were $26.2 million and equity $13.7 million.
Related: ARTW income statement, ARTW cash flow statement, ARTW key metrics. See the ARTW stock overview for the latest quote and news.
ARTW balance sheet FAQ
What are Art's-Way Manufacturing's total assets?
Art's-Way Manufacturing reported total assets of $22.5 million at the end of fiscal 2025 (November 30, 2025), compared with $21.2 million a year earlier.
How much debt does Art's-Way Manufacturing have?
Art's-Way Manufacturing had $6.4 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.48.
How much cash does Art's-Way Manufacturing have?
Art's-Way Manufacturing held $0.0 million in cash and short-term investments at the end of fiscal 2025; with $6.4 million of debt that is net debt of $6.4 million.
What is Art's-Way Manufacturing's book value?
Art's-Way Manufacturing's shareholders' equity (book value) was $13.3 million at the end of fiscal 2025, or $2.61 per share.
What is Art's-Way Manufacturing's current ratio?
Art's-Way Manufacturing had current assets of $14.8 million and current liabilities of $6.4 million, a current ratio of 2.30 (it can cover its short-term obligations).