Art's Way Manufacturing Co Inc

artsway-mfg.com

What Do They Do?

Sells specialized farm machinery to agricultural and commercial customers, and custom modular research and animal buildings to academic, government, public-health, and private research customers.

How Do They Make Money?

Farm-equipment dealers pay for machinery and parts after shipment, generally within 30 days; modular-building customers buy or lease custom facilities.

revenue

Segment	Share	Revenue	How money arrives
Agricultural Products Sold outright	55% FY2022: 82%		Sold outright
Modular Buildings Mix	45% FY2022: 18%		Mix

Who Are Their Customers?

Farm and commercial customers buy equipment through independent dealers; research institutions, government and public-health centers, and private research organizations buy customized buildings directly.

Do Revenues Turn Into Profits?

Yes. It kept 5 cents of every revenue dollar as net income in FY2025, but spent more cash than it brought in: free cash flow was −$1.5M.

Operating income, FY2025

1% of revenue

▼ −37% vs FY2024 ($460.7K, 2%)

Net income, FY2025

5% of revenue

▲ +237% vs FY2024 ($307.4K, 1%)

Free cash flow, FY2025

−7% of revenue

▼ Now a loss vs FY2024 ($1.9M, 8%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q3 FY2026, the three months to Aug 31, 2026

Revenue: ▼ −13%; vs $6.4M in Q3 FY2025
Net income: ▼ Now a loss; vs $254.1K in Q3 FY2025

Agricultural Products share of revenue vs 46.4% in Q3 FY2025

Shrinking. Revenue fell 8% in 4 years, from $25M in FY2021 to $23M in FY2025, about 2% a year.

Tools business discontinued The earlier report described a Tools segment selling cutting tools to manufacturers through distributors, representatives, direct sales, and OEM channels; the latest report says the segment ceased operations and its remaining components were disposed.

Revenue over time

Agricultural Products Modular Buildings Tools

$50M$25M$0

FY2021 FY2022 FY2023 FY2024 FY2025

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