Art's-Way Manufacturing Co., Inc. (ARTW) Key Metrics
ARTW valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $16.5M
- Enterprise value
- $22.9M
- P/E (TTM)
- — 10-yr median 38.6
- Forward P/E
- 6.4
- PEG ratio
- 2.77
- Price / sales
- 0.7 10-yr median 0.5
- Price / book
- 1.1 10-yr median 0.8
- EV / EBITDA
- 16.5 10-yr median 10.1
- Dividend yield
- —
- Beta
- 1.06
ARTW key metrics, FY2016–FY2025
Fiscal year ended November 30, 2025 · U.S. dollarsARTW valuation Price multiples at each fiscal year-end price.
ARTW returns How much profit the business earns on the capital it uses.
ARTW per-share figures Results divided by the shares outstanding at year-end.
ARTW financial health Debt, liquidity and how easily interest is covered.
ARTW efficiency & capital use Working capital cycle and where the cash goes.
ARTW valuation history
ARTW returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ARTW debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ARTW cash returned to shareholders
ARTW price vs earnings per share
ARTW key metrics
FY2016–FY2025| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $12.0M | $8.6M | $10.3M | $9.1M | $16.0M | $10.9M | $7.9M | $10.0M | $11.2M | $13.3M |
| Enterprise value | $18.4M | $13.3M | $18.4M | $16.5M | $23.0M | $16.1M | $12.9M | $16.3M | $16.4M | $18.7M |
| P/E ratio | 11.6 | 27.9 | 38.6 | 93.4 | 75.2 | — | — | — | — | — |
| Price / sales | 0.5 | 0.3 | 0.3 | 0.4 | 0.6 | 0.5 | 0.3 | 0.5 | 0.5 | 0.6 |
| Price / book | 0.9 | 0.7 | 0.9 | 0.8 | 1.5 | 1.1 | 0.7 | 0.8 | 0.7 | 0.8 |
| Price / free cash flow | — | 4.5 | — | — | — | — | 21.8 | — | 48.0 | 6.3 |
| Price / operating cash flow | — | 3.3 | — | 9.6 | — | — | 9.7 | — | 15.0 | 5.6 |
| EV / sales | 0.8 | 0.5 | 0.6 | 0.6 | 0.9 | 0.7 | 0.6 | 0.8 | 0.8 | 0.9 |
| EV / EBITDA | 7.1 | 9.2 | 7.4 | 11.0 | 19.3 | — | — | — | — | 47.1 |
| EV / free cash flow | — | 7.0 | — | — | — | — | 35.7 | — | 70.3 | 8.9 |
| Earnings yield | 8.6% | 3.6% | 2.6% | 1.1% | 1.3% | −19.2% | −18.0% | −33.2% | −12.2% | −3.2% |
| Free cash flow yield | −12.7% | 22.2% | −8.7% | −7.9% | −10.0% | −14.2% | 4.6% | −15.5% | 2.1% | 15.8% |
| Dividend yield | — | — | — | — | — | — | — | — | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | 0.0% | 0.4% | 0.7% | 1.0% | 0.2% | 0.3% | 0.2% | 0.2% | 0.1% | 0.0% |
| Share price at fiscal year-end | $2.36 | $1.70 | $2.06 | $1.94 | $3.54 | $2.49 | $1.84 | $2.39 | $2.70 | $3.25 |
| Per share | ||||||||||
| Revenue per share | $4.51 | $4.85 | $6.05 | $5.45 | $5.53 | $5.10 | $5.35 | $4.69 | $4.99 | $5.26 |
| Earnings per share | $0.20 | $0.06 | $0.05 | $0.02 | $0.05 | −$0.48 | −$0.33 | −$0.79 | −$0.33 | −$0.10 |
| Operating cash flow per share | −$0.18 | $0.52 | −$0.01 | $0.20 | −$0.22 | −$0.19 | $0.19 | −$0.27 | $0.18 | $0.58 |
| Free cash flow per share | −$0.30 | $0.38 | −$0.18 | −$0.15 | −$0.36 | −$0.35 | $0.08 | −$0.37 | $0.06 | $0.51 |
| Cash per share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.05 | $0.26 |
| Book value per share | $2.61 | $2.39 | $2.33 | $2.37 | $2.29 | $2.25 | $2.76 | $3.10 | $3.85 | $4.26 |
| Tangible book value per share | $2.61 | $2.39 | $2.33 | $2.37 | $2.29 | $2.25 | $2.76 | $3.10 | $3.67 | $4.08 |
| Dividends per share | — | — | — | — | — | — | — | — | $0.00 | $0.00 |
| Capex per share | $0.12 | $0.14 | $0.17 | $0.35 | $0.14 | $0.16 | $0.10 | $0.10 | $0.12 | $0.07 |
| Debt per share | $1.26 | $0.95 | $1.63 | $1.57 | $1.56 | $1.18 | $1.17 | $1.49 | $1.31 | $1.58 |
| Shares outstanding | 5.1M | 5.1M | 5.0M | 4.7M | 4.5M | 4.4M | 4.3M | 4.2M | 4.2M | 4.1M |
| Change in shares outstanding | +0.8% | +1.0% | +6.3% | +4.3% | +2.8% | +2.7% | +1.8% | +1.2% | +1.3% | +1.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 8.1% | 2.6% | 2.3% | 0.9% | 2.1% | −19.4% | −11.4% | −23.0% | −8.2% | −2.4% |
| Return on invested capital (ROIC) | 1.1% | 2.0% | 5.6% | 2.9% | 2.6% | −19.4% | −6.6% | −12.1% | −6.2% | −1.3% |
| Return on assets (ROA) | 4.7% | 1.3% | 1.1% | 0.4% | 1.1% | −11.0% | −7.0% | −14.6% | −5.3% | −1.5% |
| Return on tangible assets | 4.6% | 1.4% | 1.1% | 0.4% | 1.0% | −11.2% | −7.3% | −15.6% | −5.8% | −1.6% |
| Free cash flow margin | −6.7% | 7.8% | −3.0% | −2.8% | −6.4% | −6.9% | 1.6% | −7.9% | 1.1% | 9.8% |
| Income quality (OCF / net income) | −0.87 | 8.55 | −0.21 | 9.73 | −4.64 | — | — | — | — | — |
| Financial health | ||||||||||
| Total debt | $6.4M | $4.8M | $8.1M | $7.4M | $7.0M | $5.2M | $5.0M | $6.3M | $5.4M | $6.5M |
| Cash & short-term investments | $4,849 | $1,860 | $4,014 | $5,055 | $2,658 | $2,684 | $3,145 | $3,512 | $212,400 | $1.1M |
| Net debt | $6.4M | $4.8M | $8.1M | $7.4M | $7.0M | $5.2M | $5.0M | $6.3M | $5.2M | $5.4M |
| Debt / equity | 0.48 | 0.40 | 0.70 | 0.66 | 0.68 | 0.52 | 0.43 | 0.48 | 0.34 | 0.37 |
| Debt / assets | 0.29 | 0.23 | 0.33 | 0.31 | 0.34 | 0.28 | 0.26 | 0.29 | 0.22 | 0.24 |
| Net debt / EBITDA | 2.47 | 3.29 | 3.28 | 4.91 | 5.89 | — | — | — | — | 13.61 |
| Current ratio | 2.30 | 1.98 | 1.61 | 1.53 | 1.58 | 1.67 | 2.19 | 2.11 | 2.86 | 2.50 |
| Quick ratio | 0.48 | 0.42 | 0.43 | 0.38 | 0.39 | 0.41 | 0.51 | 0.33 | 0.49 | 0.58 |
| Interest coverage | 0.8 | 0.8 | 2.6 | 1.5 | 1.7 | -12.8 | -4.2 | -10.2 | -5.4 | -1.7 |
| Working capital | $8.3M | $6.5M | $5.7M | $4.9M | $4.5M | $4.1M | $6.2M | $6.4M | $9.4M | $10.6M |
| Invested capital | $19.7M | $16.9M | $19.8M | $18.5M | $17.4M | $15.1M | $16.8M | $19.3M | $21.2M | $22.9M |
| Tangible asset value | $13.3M | $12.1M | $11.6M | $11.2M | $10.4M | $9.9M | $11.8M | $13.0M | $15.2M | $16.7M |
| Net current asset value | $5.6M | $4.0M | $2.3M | $1.3M | $1.7M | $1.4M | $3.9M | $3.9M | $6.0M | $7.9M |
| Graham number | $3.46 | $1.81 | $1.67 | $1.05 | $1.56 | — | — | — | — | — |
| Graham net-net per share | −$0.27 | −$0.40 | −$0.89 | −$1.16 | −$0.83 | −$0.72 | −$0.29 | −$0.44 | −$0.17 | −$0.14 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | $0 | $0 |
| Share buybacks (net) | $1,542 | $37,654 | $68,536 | $92,432 | $30,470 | $30,996 | $19,323 | $21,310 | $6,425 | $0 |
| Dividends + buybacks / free cash flow | — | 2.0% | — | — | — | — | 5.4% | — | 2.7% | 0.0% |
| Capex / revenue | 2.7% | 3.0% | 2.8% | 6.5% | 2.5% | 3.1% | 2.0% | 2.2% | 2.5% | 1.3% |
| Capex / operating cash flow | — | 27.6% | — | 175.4% | — | — | 55.3% | — | 68.7% | 11.5% |
| Capex / depreciation | 0.79 | 0.73 | 1.05 | 2.53 | 1.01 | 0.85 | 0.45 | 0.45 | 0.73 | 0.41 |
| Stock-based compensation / revenue | 0.8% | 0.7% | 1.0% | 1.1% | 1.1% | 1.1% | 0.9% | 1.0% | 0.5% | 0.4% |
| R&D / revenue | 1.0% | 1.8% | 2.0% | 2.3% | 2.0% | 2.1% | 2.1% | 3.2% | 2.4% | 2.0% |
| SG&A / revenue | 18.3% | 26.2% | 21.3% | 22.4% | 22.3% | 26.0% | 21.6% | 27.2% | 25.3% | 24.5% |
| Efficiency | ||||||||||
| Days sales outstanding | 41.0 | 47.0 | 38.8 | 39.6 | 38.9 | 41.0 | 34.4 | 34.6 | 33.2 | 35.8 |
| Days of inventory on hand | 235.8 | 226.8 | 182.0 | 193.4 | 168.6 | 150.9 | 183.2 | 250.1 | 279.7 | 328.5 |
| Days payables outstanding | 19.8 | 34.0 | 40.1 | 41.4 | 36.7 | 28.8 | 19.3 | 16.6 | 12.5 | 10.8 |
| Cash conversion cycle (days) | 257.1 | 239.8 | 180.8 | 191.6 | 170.8 | 163.0 | 198.3 | 268.1 | 300.4 | 353.5 |
| Receivables turnover | 8.89 | 7.77 | 9.40 | 9.22 | 9.39 | 8.91 | 10.61 | 10.56 | 10.99 | 10.19 |
| Payables turnover | 18.47 | 10.74 | 9.11 | 8.82 | 9.95 | 12.66 | 18.89 | 21.98 | 29.10 | 33.64 |
| Inventory turnover | 1.55 | 1.61 | 2.01 | 1.89 | 2.16 | 2.42 | 1.99 | 1.46 | 1.30 | 1.11 |
| Asset turnover | 1.05 | 1.07 | 1.25 | 1.14 | 1.26 | 1.17 | 1.13 | 0.86 | 0.80 | 0.74 |
| Average receivables | $2.6M | $3.2M | $3.2M | $2.8M | $2.7M | $2.5M | $2.2M | $1.9M | $1.9M | $2.1M |
| Average payables | $923,387 | $1.6M | $2.4M | $2.1M | $1.8M | $1.6M | $1.0M | $737,858 | $571,567 | $482,674 |
| Average inventory | $11.0M | $10.7M | $10.8M | $9.9M | $8.5M | $8.3M | $9.5M | $11.1M | $12.7M | $14.6M |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 3.1% | 2.8% |
Computed from ARTW's annual financial statements (latest annual report filed February 12, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
ARTW valuation and financial ratios
At the end of fiscal 2025 (November 30, 2025), Art's-Way Manufacturing traded at 11.6 times earnings, against a 10-year median of 38.6. Art's-Way Manufacturing earned a return on equity of 8.1% and a return on invested capital of 1.1% in fiscal 2025. It ended the year with $6.4 million of debt and $0.0 million in cash and short-term investments, net debt of $6.4 million. It returned $0.0 million to shareholders: $0 in dividends and $0.0 million in share buybacks. The share count rose 24.3% from 4.1M to 5.1M over 9 years.
See the ARTW income statement, the ARTW chart for price history, or the ARTW stock overview for the latest quote and news.
ARTW key metrics FAQ
What is Art's-Way Manufacturing's P/E ratio?
Art's-Way Manufacturing traded at 11.6 times earnings at the end of fiscal 2025.
What is Art's-Way Manufacturing's EV/EBITDA?
Art's-Way Manufacturing's enterprise value was 7.1 times EBITDA at the end of fiscal 2025 (enterprise value $18.4 million, EBITDA $2.6 million); the current EV/EBITDA is 16.5.
What is Art's-Way Manufacturing's return on equity?
Art's-Way Manufacturing's return on equity (ROE) was 8.1% in fiscal 2025: net income of $1.0 million on average shareholders' equity of $12.7 million.
What is Art's-Way Manufacturing's ROIC?
Art's-Way Manufacturing's return on invested capital was 1.1% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Art's-Way Manufacturing have?
Art's-Way Manufacturing had total debt of $6.4 million at the end of fiscal 2025, a debt-to-equity ratio of 0.48 and $6.4 million of net debt (2.47 times EBITDA).
Does Art's-Way Manufacturing buy back its shares?
Yes. Art's-Way Manufacturing spent $0.0 million on net share repurchases in fiscal 2025 Shares outstanding changed +0.8% over the year, to 5.1M..
What is Art's-Way Manufacturing's free cash flow yield?
Art's-Way Manufacturing generated -$1.5 million of free cash flow in fiscal 2025, a free cash flow yield of −12.7% on its market value at year-end ($12.0 million).
What is Art's-Way Manufacturing's current ratio?
Art's-Way Manufacturing's current ratio was 2.30 at the end of fiscal 2025: current assets were 2.30 times current liabilities.