Arts Way Manufacturing Co. Inc. (ARTW) intrinsic value & 10-year financials
Arts Way Manufacturing Co. Inc. (ARTW) has a Graham intrinsic value of $6.64 per share. At $3.16 on Oct 17, 2026, the stock trades 52% below that value. Over the last 10 fiscal years revenue grew 0.7% a year to $23.0M, with an average return on invested capital of -3.9%.
- Graham intrinsic value
- $6.64
- Share price (Oct 17, 2026)
- $3.16
- Price vs Graham value
- 52% below
- Market cap
- $16.1M
- Revenue (FY2025)
- $23.0M
- Revenue growth (10-yr CAGR)
- 0.7%
- ROIC (10-yr avg)
- -3.9%
- Free cash flow (FY2025)
- -$1.5M
ARTW 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $23.0M | $1.0M | $0.20 | -$1.5M | 1.3% | 1.3% |
| FY2024 | $24.5M | $307.4K | $0.06 | $1.9M | 1.9% | 3.1% |
| FY2023 | $30.3M | $267.0K | $0.05 | -$897.0K | 5.1% | 5.2% |
| FY2022 | $28.4M | $97.8K | $0.02 | -$795.6K | 1.2% | 2.0% |
| FY2021 | $25.0M | $212.6K | $0.05 | -$1.6M | 2.1% | 3.2% |
| FY2020 | $22.4M | -$2.1M | -$0.48 | -$1.5M | -17.4% | -20.6% |
| FY2019 | $22.9M | -$1.4M | -$0.33 | $360.7K | -6.5% | -8.0% |
| FY2018 | $19.7M | -$3.4M | -$0.81 | -$1.6M | -15.7% | -15.6% |
| FY2017 | $20.7M | -$1.6M | -$0.39 | $233.8K | -8.3% | -7.1% |
| FY2016 | $21.6M | -$821.3K | -$0.20 | $2.1M | -2.0% | -2.0% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
ARTS WAY MANUFACTURING CO INC has demonstrated mature, steady growth, with revenue compounding at 0.7% annually over the past decade.
ARTS WAY MANUFACTURING CO INC has historically struggled to out-earn its cost of capital, averaging just -3.8% ROIC.
ARTS WAY MANUFACTURING CO INC has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, ARTS WAY MANUFACTURING CO INC is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $6.64 per share.