Arts WAY Manufacturing Co Inc key statistics and ratios

In fiscal 2025, Arts WAY Manufacturing Co Inc had return on equity of 8.1%, an operating margin of 1.3%, debt equal to 43.2% of equity and a current ratio of 2.30. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Arts WAY Manufacturing Co Inc: financial ratios, annual
Fiscal year	2010Nov 2010	2011Nov 2011	2012Nov 2012	2013Nov 2013	2014Nov 2014	2015Nov 2015	2016Nov 2016	2017Nov 2017	2018Nov 2018	2019Nov 2019	2020Nov 2020	2021Nov 2021	2022Nov 2022	2023Nov 2023	2024Nov 2024	2025Nov 2025	LTMAug 2026
Gross margin	23.5%	25.4%	27.5%	24.4%	24.1%	26.3%	24.7%	19.7%	17.8%	17.2%	10.7%	26.4%	27.1%	28.3%	29.8%	27.3%	26.0%
Operating margin	6.5%	7.0%	11.9%	5.3%	4.6%	−0.3%	−2.0%	−8.3%	−15.7%	−6.5%	−17.4%	2.1%	2.4%	5.1%	1.9%	1.3%	−0.1%
Net margin	3.6%	4.5%	7.3%	4.5%	2.6%	−2.1%	−3.8%	−7.9%	−17.2%	−6.2%	−9.4%	0.9%	0.4%	0.9%	1.3%	4.5%	−1.6%
Free-cash-flow margin	5.4%	5.5%	11.5%	−2.5%	3.6%	0.2%	9.8%	1.1%	−7.9%	1.6%	−6.9%	−6.4%	−2.8%	−3.0%	7.8%	−6.7%	−4.1%
Return on equity	7.8%	8.8%	16.8%	8.8%	5.0%	−3.0%	−4.6%	−9.8%	−23.3%	−11.4%	−19.4%	2.1%	0.9%	2.3%	2.6%	8.1%	−3.1%
Return on assets	3.9%	4.7%	9.3%	4.8%	2.9%	−1.7%	−2.8%	−6.3%	−14.8%	−7.0%	−11.0%	1.1%	0.4%	1.1%	1.3%	4.7%	−1.7%
Asset turnover	1.08	1.05	1.28	1.07	1.10	0.82	0.74	0.80	0.86	1.13	1.17	1.26	1.14	1.25	1.07	1.05	1.03
Current ratio	2.91	3.65	3.38	2.72	3.09	2.72	2.50	2.86	2.11	2.19	1.67	1.58	1.53	1.61	1.98	2.30	1.71
Debt to equity	52.0%	43.8%	49.6%	59.2%	50.9%	53.5%	41.2%	37.7%	48.0%	42.5%	52.2%	65.8%	60.6%	61.4%	33.3%	43.2%	43.8%
Interest cover (operating income ÷ interest)	4.5x	4.5x	10.5x	6.1x	4.7x	n/m	n/m	n/m	n/m	n/m	n/m	1.7x	1.5x	2.6x	0.8x	0.8x	n/m
Effective tax rate	—	—	33.2%	29.7%	28.2%	—	—	—	—	—	—	20.3%	15.2%	29.9%	—	28.0%	—
R&D as % of revenue	1.4%	0.5%	0.3%	0.5%	0.5%	0.6%	0.6%	0.9%	0.9%	0.7%	0.9%	0.6%	0.8%	0.7%	0.9%	1.0%	—
Capital spending as % of revenue	7.1%	3.1%	2.2%	2.5%	1.8%	0.9%	1.3%	2.5%	2.2%	2.0%	3.1%	2.5%	6.5%	2.8%	3.0%	2.7%	7.9%
Free cash flow ÷ net income	147.2%	120.8%	157.8%	−54.4%	139.9%	—	—	—	—	—	—	−755.4%	−733.9%	−336.0%	618.8%	−148.0%	—
Dividends ÷ net income	22.8%	19.3%	15.1%	26.1%	—	—	—	—	—	—	—	—	—	—	—	—	—
Dividends and buybacks ÷ free cash flow	15.5%	16.0%	9.6%	—	—	440.0%	—	2.7%	—	5.4%	—	—	—	—	2.0%	—	—

US$ thousands unless shown otherwise. Fiscal quarters.

Arts WAY Manufacturing Co Inc: financial ratios, quarterly
Quarter	2024 Q4Nov 2024	2025 Q1Feb 2025	2025 Q2May 2025	2025 Q3Aug 2025	2025 Q4Nov 2025	2026 Q1Feb 2026	2026 Q2May 2026	2026 Q3Aug 2026
Gross margin	36.1%	29.1%	32.5%	27.5%	18.6%	28.8%	25.9%	29.6%
Operating margin	8.4%	0.0%	8.1%	5.4%	−11.2%	5.0%	3.6%	−1.2%
Net margin	13.5%	−1.1%	23.4%	4.0%	−12.7%	3.0%	2.2%	−2.5%
Free-cash-flow margin	17.6%	−3.6%	19.3%	−23.8%	−20.6%	−0.4%	0.3%	0.2%
Current ratio	1.98	2.00	2.72	2.54	2.30	2.02	2.17	1.71
Debt to equity	17.3%	20.6%	18.3%	14.4%	18.7%	18.1%	17.4%	17.2%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

5 of 7 checks passed · August 31, 2026

What it owns · $26m

Short-term assets $17mLonger-term assets $9m

What it owes, and who funded it · $26m

Short-term liabilities $10mLonger-term liabilities $2mShareholders' equity $14m

Short-term assets cover short-term liabilities $17m of assets due within a year against $10m of liabilities due within a year.
Short-term assets cover long-term liabilities $17m short-term assets against $2m of longer-dated liabilities.
More cash than debt $2,855 of cash against $2m of debt.
Debt below 40% of shareholders' equity Debt is 17% of equity.
Debt burden no higher than five years ago Debt to equity moved from 26% to 17% over five years.
A year's operating cash flow covers at least 20% of debt $959,072 of operating cash flow against $2m of debt.
Operating profit covers interest at least five times over Operating income of −$21,816 against $445,219 of interest.

From Arts WAY Manufacturing Co Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

30 /100

Weak moat

How hard Arts WAY Manufacturing's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 0 / 20

Cash operating profit has been a median 1.2% of total assets over 10 years.
Pricing power 6 / 20

Gross margin has been a median 24.0%, moving by 5.5 percentage points (standard deviation) across 10 years.
Durability 10 / 20

Operating margin has been a median -3.7%; its worst year was -16.5%.
Cash conversion 3 / 20

Free cash flow was positive in 3 of 10 years, at a median -2.4% of revenue.
Discipline 12 / 20

The diluted share count rose 14.9% over five years; stock-based pay has been a median 0.9% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: ARTW vs LNN ALG vs ARTW ARTW vs TTC

More: Agricultural & Farm Machinery stocks compared, Industrials sector, rankings of US companies

Figures from Arts WAY Manufacturing Co Inc's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Arts WAY Manufacturing Co Inc.