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Art's-Way Manufacturing

Nasdaq:ARTW
Snowflake Description

Mediocre balance sheet and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ARTW
Nasdaq
$8M
Market Cap
  1. Home
  2. US
  3. Capital Goods
Company description

Art's-Way Manufacturing Co., Inc. manufactures and sells agricultural equipment, specialized modular science buildings, and steel cutting tools worldwide. The last earnings update was 8 days ago. More info.


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  • Art's-Way Manufacturing has significant price volatility in the past 3 months.
ARTW Share Price and Events
7 Day Returns
-0.5%
NasdaqCM:ARTW
1.1%
US Machinery
0.5%
US Market
1 Year Returns
-23.9%
NasdaqCM:ARTW
-7.4%
US Machinery
2%
US Market
ARTW Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Art's-Way Manufacturing (ARTW) -0.5% -2.9% -17.1% -23.9% -29.1% -68%
US Machinery 1.1% 6.2% 4% -7.4% 62.3% 27.1%
US Market 0.5% 6.3% 1.9% 2% 45.1% 40.5%
1 Year Return vs Industry and Market
  • ARTW underperformed the Machinery industry which returned -7.4% over the past year.
  • ARTW underperformed the Market in United States of America which returned 2% over the past year.
Price Volatility
ARTW
Industry
5yr Volatility vs Market

Value

 Is Art's-Way Manufacturing undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Art's-Way Manufacturing to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Art's-Way Manufacturing.

NasdaqCM:ARTW Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 15.1%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqCM:ARTW
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 7.3%
Machinery Unlevered Beta Simply Wall St/ S&P Global 1.06
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.058 (1 + (1- 21%) (76.44%))
1.697
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.7
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.697 * 7.27%)
15.07%

Discounted Cash Flow Calculation for NasdaqCM:ARTW using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Art's-Way Manufacturing is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

NasdaqCM:ARTW DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (USD, Millions) 0.33 0.29 0.25 0.21 0.18
Source Est @ -13.7% Est @ -13.7% Est @ -13.7% Est @ -13.7% Est @ -13.7%
Present Value
Discounted (@ 15.07%)
0.29 0.22 0.16 0.12 0.09
Present value of next 5 years cash flows $0.88
NasdaqCM:ARTW DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= $0.18 × (1 + 2.73%) ÷ (15.07% – 2.73%)
$1.53
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= $1.53 ÷ (1 + 15.07%)5
$0.76
NasdaqCM:ARTW Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= $0.88 + $0.76
$1.63
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1.63 / 4.22
$0.39
NasdaqCM:ARTW Discount to Share Price
Calculation Result
Value per share (USD) From above. $0.39
Current discount Discount to share price of $1.94
= -1 x ($1.94 - $0.39) / $0.39
-400.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Art's-Way Manufacturing is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Art's-Way Manufacturing's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Art's-Way Manufacturing's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqCM:ARTW PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-11-30) in USD $-0.79
NasdaqCM:ARTW Share Price ** NasdaqCM (2019-02-13) in USD $1.94
United States of America Machinery Industry PE Ratio Median Figure of 101 Publicly-Listed Machinery Companies 19.56x
United States of America Market PE Ratio Median Figure of 3,046 Publicly-Listed Companies 16.95x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Art's-Way Manufacturing.

NasdaqCM:ARTW PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqCM:ARTW Share Price ÷ EPS (both in USD)

= 1.94 ÷ -0.79

-2.44x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Art's-Way Manufacturing is loss making, we can't compare its value to the US Machinery industry average.
  • Art's-Way Manufacturing is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Art's-Way Manufacturing's expected growth come at a high price?
Raw Data
NasdaqCM:ARTW PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -2.44x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
United States of America Machinery Industry PEG Ratio Median Figure of 84 Publicly-Listed Machinery Companies 1.29x
United States of America Market PEG Ratio Median Figure of 2,117 Publicly-Listed Companies 1.36x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Art's-Way Manufacturing, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Art's-Way Manufacturing's assets?
Raw Data
NasdaqCM:ARTW PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-11-30) in USD $3.09
NasdaqCM:ARTW Share Price * NasdaqCM (2019-02-13) in USD $1.94
United States of America Machinery Industry PB Ratio Median Figure of 128 Publicly-Listed Machinery Companies 2.37x
United States of America Market PB Ratio Median Figure of 5,122 Publicly-Listed Companies 1.81x
NasdaqCM:ARTW PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqCM:ARTW Share Price ÷ Book Value per Share (both in USD)

= 1.94 ÷ 3.09

0.63x

* Primary Listing of Art's-Way Manufacturing.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Art's-Way Manufacturing is good value based on assets compared to the US Machinery industry average.
X
Value checks
We assess Art's-Way Manufacturing's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Machinery industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Machinery industry average (and greater than 0)? (1 check)
  5. Art's-Way Manufacturing has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Art's-Way Manufacturing expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Art's-Way Manufacturing has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
11.7%
Expected Machinery industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Art's-Way Manufacturing expected to grow at an attractive rate?
  • Unable to compare Art's-Way Manufacturing's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Art's-Way Manufacturing's earnings growth to the United States of America market average as no estimate data is available.
  • Unable to compare Art's-Way Manufacturing's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NasdaqCM:ARTW Future Growth Rates Data Sources
Data Point Source Value (per year)
United States of America Machinery Industry Earnings Growth Rate Market Cap Weighted Average 11.7%
United States of America Machinery Industry Revenue Growth Rate Market Cap Weighted Average 3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.4%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqCM:ARTW Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqCM:ARTW Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-11-30 20 -1 -3
2018-08-31 21 -0 -3
2018-05-31 22 1 -2
2018-02-28 22 1 -2
2017-11-30 21 1 -1
2017-08-31 20 1 -1
2017-05-31 20 -0 -1
2017-02-28 20 2 -1
2016-11-30 22 2 -0
2016-08-31 23 2 -0
2016-05-31 22 2 -1
2016-02-29 25 1 -0

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Art's-Way Manufacturing is high growth as no earnings estimate data is available.
  • Unable to determine if Art's-Way Manufacturing is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqCM:ARTW Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Art's-Way Manufacturing Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:ARTW Past Financials Data
Date (Data in USD Millions) EPS *
2018-11-30 -0.79
2018-08-31 -0.62
2018-05-31 -0.43
2018-02-28 -0.39
2017-11-30 -0.33
2017-08-31 -0.28
2017-05-31 -0.32
2017-02-28 -0.20
2016-11-30 -0.10
2016-08-31 -0.01
2016-05-31 -0.14
2016-02-29 -0.08

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Art's-Way Manufacturing will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Take a look at our analysis of ARTW’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  2. Art's-Way Manufacturing's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Capital Goods companies here
  3. Art's-Way Manufacturing's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Art's-Way Manufacturing's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Art's-Way Manufacturing has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Art's-Way Manufacturing performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Art's-Way Manufacturing's growth in the last year to its industry (Machinery).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Art's-Way Manufacturing does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Art's-Way Manufacturing's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Art's-Way Manufacturing's 1-year growth to the US Machinery industry average as it is not currently profitable.
Earnings and Revenue History
Art's-Way Manufacturing's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Art's-Way Manufacturing Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqCM:ARTW Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-11-30 19.73 -3.34 5.38 0.64
2018-08-31 21.00 -2.60 5.38 0.59
2018-05-31 22.26 -1.79 5.27 0.49
2018-02-28 21.66 -1.64 5.20 0.50
2017-11-30 20.72 -1.37 5.23 0.50
2017-08-31 19.78 -1.15 5.27 0.49
2017-05-31 19.66 -1.34 5.37 0.50
2017-02-28 20.27 -0.81 5.30 0.46
2016-11-30 21.56 -0.43 5.28 0.43
2016-08-31 23.16 -0.05 5.35 0.42
2016-05-31 22.24 -0.56 5.29 0.39
2016-02-29 24.75 -0.34 5.64 0.42
2015-11-30 26.33 -0.31 5.94 0.43
2015-08-31 29.48 0.12 6.18 0.45
2015-05-31 35.56 1.34 6.57 0.49
2015-02-28 37.22 1.36 6.66 0.48
2014-11-30 36.17 0.94 6.58 0.48
2014-08-31 34.50 0.74 6.28 0.49
2014-05-31 32.27 0.21 6.10 0.54
2014-02-28 32.05 0.47 6.00 0.53
2013-11-30 34.23 1.55 6.04 0.51
2013-08-31 33.94 1.92 5.73 0.47
2013-05-31 36.12 2.87 5.97 0.38
2013-02-28 38.56 3.29 5.90 0.35
2012-11-30 36.46 2.67 5.37 0.33
2012-08-31 35.39 2.53 5.52 0.34
2012-05-31 33.11 2.57 4.96 0.35
2012-02-29 29.27 1.93 4.66 0.40

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Art's-Way Manufacturing has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Art's-Way Manufacturing has efficiently used its assets last year compared to the US Machinery industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Art's-Way Manufacturing improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Art's-Way Manufacturing's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Machinery industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Art's-Way Manufacturing has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Art's-Way Manufacturing's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Art's-Way Manufacturing's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Art's-Way Manufacturing is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Art's-Way Manufacturing's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Art's-Way Manufacturing's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Art's-Way Manufacturing Company Filings, last reported 2 months ago.

NasdaqCM:ARTW Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-11-30 13.04 6.26 0.00
2018-08-31 14.39 5.50 0.00
2018-05-31 15.11 4.99 0.00
2018-02-28 15.45 4.88 0.09
2017-11-30 15.99 5.43 0.21
2017-08-31 16.87 6.38 0.39
2017-05-31 16.76 6.57 0.21
2017-02-28 17.26 6.05 0.75
2016-11-30 17.48 6.48 1.06
2016-08-31 18.33 6.81 0.50
2016-05-31 18.58 6.44 0.27
2016-02-29 18.61 8.34 0.63
2015-11-30 18.52 9.07 0.45
2015-08-31 18.68 10.30 0.64
2015-05-31 19.48 9.91 0.60
2015-02-28 19.23 10.39 0.90
2014-11-30 19.25 9.80 0.51
2014-08-31 18.87 12.39 0.24
2014-05-31 18.31 11.93 0.25
2014-02-28 18.04 10.98 0.09
2013-11-30 18.29 10.83 0.21
2013-08-31 18.49 7.79 1.43
2013-05-31 18.43 8.14 2.12
2013-02-28 17.89 8.19 3.57
2012-11-30 17.07 8.47 1.55
2012-08-31 16.92 9.38 0.34
2012-05-31 15.94 11.09 0.29
2012-02-29 14.93 7.43 0.32
  • Art's-Way Manufacturing's level of debt (48%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (59.2% vs 48% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Art's-Way Manufacturing is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Art's-Way Manufacturing's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Art's-Way Manufacturing has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Art's-Way Manufacturing's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Art's-Way Manufacturing dividends.
If you bought $2,000 of Art's-Way Manufacturing shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Art's-Way Manufacturing's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Art's-Way Manufacturing's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqCM:ARTW Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Machinery Industry Average Dividend Yield Market Cap Weighted Average of 78 Stocks 2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1997 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqCM:ARTW Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2017-07-14 0.000 0.000
2017-02-02 0.000 0.000
2016-02-03 0.050 1.659
2015-10-01 0.050 1.695
2015-06-30 0.050 1.164
2015-01-27 0.050 1.030
2013-11-14 0.100 1.777
2012-11-09 0.100 1.524
2011-11-08 0.060 0.876
2010-11-09 0.060 0.721
2009-11-02 0.060 1.139
2009-02-27 0.060 1.334
2009-02-17 0.030 0.741

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Art's-Way Manufacturing has not reported any payouts.
  • Unable to verify if Art's-Way Manufacturing's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Art's-Way Manufacturing's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Art's-Way Manufacturing has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Art's-Way Manufacturing's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Art's-Way Manufacturing afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Art's-Way Manufacturing has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Art's-Way Manufacturing's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Carrie Gunnerson
COMPENSATION $199,799
AGE 42
TENURE AS CEO 11.3 years
CEO Bio

Ms. Carrie L. Gunnerson serves as Chief Executive Officer, President of Art's-Way Manufacturing Co., Inc. since October 18, 2007 and serves as its Corporate Secretary. Ms. Gunnerson has been Interim Chief Financial Officer of Art's-Way Manufacturing Co., Inc. since May 31, 2018. She joined Art's-Way Manufacturing Co., Inc. in April 2004 and served as Chief Financial Officer from July 2004 to January 2012 and Interim Chief Financial Officer from September 2012 to January 22, 2015.

CEO Compensation
  • Carrie's compensation has increased whilst company is loss making.
  • Carrie's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure of the Art's-Way Manufacturing management team in years:

8.8
Average Tenure
  • The average tenure for the Art's-Way Manufacturing management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Carrie Gunnerson

TITLE
CEO, President
COMPENSATION
$200K
AGE
42
TENURE
11.3 yrs

Michael Woods

TITLE
Principal Accounting Officer
AGE
31
TENURE
0.8 yrs

Glen Parrett

TITLE
Director of Sales & Marketing

Dan Palmer

TITLE
President of Art’s-Way Scientific Inc
TENURE
8.8 yrs
Board of Directors Tenure

Average tenure and age of the Art's-Way Manufacturing board of directors in years:

5
Average Tenure
65
Average Age
  • The tenure for the Art's-Way Manufacturing board of directors is about average.
Board of Directors

Marc McConnell

TITLE
Chairman of the Board
COMPENSATION
$310K
AGE
39
TENURE
3.8 yrs

J. McConnell

TITLE
Vice Chairman of the Board
COMPENSATION
$93K
AGE
86
TENURE
3.8 yrs

David Castle

TITLE
Director
COMPENSATION
$31K
AGE
68
TENURE
6.1 yrs

Thomas Buffamante

TITLE
Director
COMPENSATION
$31K
AGE
65
TENURE
16.1 yrs

Joseph Dancy

TITLE
Director
COMPENSATION
$19K
AGE
63
TENURE
7.1 yrs

David White

TITLE
Director
COMPENSATION
$19K
AGE
65
TENURE
2.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
17. May 18 Buy J. McConnell Individual 02. May 18 02. May 18 1,000 $2.60 $2,600
03. May 18 Buy J. McConnell Individual 01. May 18 01. May 18 300 $2.60 $780
01. May 18 Buy J. McConnell Individual 27. Apr 18 27. Apr 18 6,600 $2.60 $17,152
26. Apr 18 Buy J. McConnell Individual 24. Apr 18 24. Apr 18 20 $2.60 $52
17. Apr 18 Buy J. McConnell Individual 13. Apr 18 13. Apr 18 1,269 $2.60 $3,299
13. Apr 18 Buy J. McConnell Individual 11. Apr 18 12. Apr 18 13,798 $2.60 $34,391
14. Feb 18 Buy J. McConnell Individual 12. Feb 18 13. Feb 18 7,382 $2.65 $19,344
X
Management checks
We assess Art's-Way Manufacturing's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Art's-Way Manufacturing has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Is Art's-Way Manufacturing Co., Inc.'s (NASDAQ:ARTW) Balance Sheet Strong Enough To Weather A Storm?

Investors are always looking for growth in small-cap stocks like Art's-Way Manufacturing Co., Inc. … However, an important fact which most ignore is: how financially healthy is the business? … the current state of its operations and pathway to profitability.

Simply Wall St -

Is Art's-Way Manufacturing Co Inc (NASDAQ:ARTW) Overpaying Its CEO?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Carrie Gunnerson's Compensation Compare With Similar Sized Companies. … A first glance this seems like a real positive for shareholders, since Carrie Gunnerson is paid less than the average compensation paid by similar sized companies.

Simply Wall St -

How Financially Strong Is Art's-Way Manufacturing Co Inc (NASDAQ:ARTW)?

Art's-Way Manufacturing Co Inc (NASDAQ:ARTW) is a small-cap stock with a market capitalization of US$10m. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health.

Simply Wall St -

Breaking Down Art's-Way Manufacturing Co Inc's (NASDAQ:ARTW) Ownership Structure

In this article, I'm going to take a look at Art's-Way Manufacturing Co Inc’s (NASDAQ:ARTW) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … Although this is an important factor for long-term investors, many investors can also be impacted by institutional presence and their high-volume trading. … See our latest analysis for Art's-Way Manufacturing

Simply Wall St -

What You Must Know About Art's-Way Manufacturing Co Inc's (NASDAQ:ARTW) Financial Strength

While small-cap stocks, such as Art's-Way Manufacturing Co Inc (NASDAQ:ARTW) with its market cap of US$12.10m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.

Simply Wall St -

Who Are The Largest Shareholders In Art's-Way Manufacturing Co Inc. (NASDAQ:ARTW)?

In this article, I'm going to take a look at Art's-Way Manufacturing Co Inc.’s (NASDAQ:ARTW) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … View our latest analysis for Art's-Way Manufacturing NasdaqCM:ARTW Ownership_summary May 17th 18 Institutional Ownership Institutional investors are one of the largest group of market participants and their buy-sell decisions on a company's stock can significantly impact prices, more so, when there are relatively small amounts of shares available on the market to trade. … Next Steps: With a low level of institutional ownership, investors in ARTW need not worry about non-fundamental factors such as ownership structure causing large impact on stock prices.

Simply Wall St -

Is Art's-Way Manufacturing Co Inc.'s (NASDAQ:ARTW) Balance Sheet A Threat To Its Future?

On top of this, ARTW has produced cash from operations of US$747.40K in the last twelve months, resulting in an operating cash to total debt ratio of 13.76%, indicating that ARTW’s operating cash is not sufficient to cover its debt. … In ARTW’s case, it is able to generate 0.14x cash from its debt capital. … Risk around debt is very low for ARTW, and the company also has the ability and headroom to increase debt if needed going forward.Next Steps: Although ARTW’s debt level is relatively low, its cash flow levels still could not copiously cover its borrowings.

Simply Wall St -

With A -102.01% Earnings Drop, Is Art's-Way Manufacturing Co Inc.'s (NASDAQ:ARTW) A Concern?

When Art's-Way Manufacturing Co Inc.'s (NASDAQ:ARTW) announced its latest earnings (28 February 2018), I wanted to understand how these figures stacked up against its past performance. … The two benchmarks I used were Art's-Way Manufacturing's average earnings over the past couple of years, and its industry performance. … View our latest analysis for Art's-Way Manufacturing Commentary On ARTW's Past Performance I prefer to use the ‘latest twelve-month’ data, which annualizes the latest 6-month earnings release, or some times, the latest annual report is already the most recent financial data.

Simply Wall St -

Is Art's-Way Manufacturing Co Inc.'s (NASDAQ:ARTW) CEO Overpaid Relative To Its Peers?

See our latest analysis for Art's-Way Manufacturing What has been the trend in ARTW's earnings? … Normally I would look at market cap and earnings as a proxy for performance, however, ARTW's negative earnings lower the usefulness of my formula. … If you have not done so already, I highly recommend you to complete your research by taking a look at the following: Governance: To find out more about ARTW's governance, look through our infographic report of the company's board and management.

Simply Wall St -

One Thing To Consider Before Buying Art's-Way Manufacturing Co Inc. (NASDAQ:ARTW)

Based on this beta value, ARTW appears to be a stock that an investor with a high-beta portfolio would look for to reduce risk exposure to the market. … ARTW, with its market capitalisation of US$11.91M, is a small-cap stock, which generally have higher beta than similar companies of larger size. … However, this is the opposite to what ARTW’s actual beta value suggests, which is lower stock volatility relative to the market.

Simply Wall St -

Company Info

Map
Description

Art's-Way Manufacturing Co., Inc. manufactures and sells agricultural equipment, specialized modular science buildings, and steel cutting tools worldwide. The company operates through three segments: Agricultural Products, Modular Buildings, and Tools. The Agricultural Products segment offers specialized farm machineries, including portable and stationary animal feed processing equipment and related attachments; hay and forage equipment consisting of forage boxes, blowers, running gear, and dump boxes; portable grain augers; manure spreaders; sugar beet harvesting equipment; land maintenance equipment; moldboard plows; potato harvesters; grinder mixers; reels for combines and swathers; silage blowers and reels; and after-market service parts under the Art’s-Way, Miller Pro, Roda, M&W, Badger, and UHC by Art’s-Way brands. The Modular Buildings segment produces and sells swine buildings and complex containment research laboratories, as well as research facilities for academic research institutions, government research and diagnostic centers, public health institutions, and private research and pharmaceutical companies; and leases temporary facilities. The Tools segment offers standard single point brazed carbide tipped tools, and polycrystalline diamond and cubic boron nitride inserts and tools to aerospace, oil and gas piping, and appliances industries. The company markets and sells its products through independent farm equipment dealers, manufacturers’ representatives, direct sales, and original equipment manufacturer sales channels. Art's-Way Manufacturing Co., Inc. was founded in 1956 and is based in Armstrong, Iowa.

Details
Name: Art's-Way Manufacturing Co., Inc.
ARTW
Exchange: NasdaqCM
Founded: 1956
$8,184,019
4,218,567
Website: http://www.artsway-mfg.com
Address: Art's-Way Manufacturing Co., Inc.
5556 Highway 9,
PO Box 288,
Armstrong,
Iowa, 50514,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqCM ARTW Common Shares Nasdaq Capital Market US USD 15. Dec 1972
Number of employees
Current staff
Staff numbers
130
Art's-Way Manufacturing employees.
Industry
Agricultural and Farm Machinery
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/13 23:35
End of day share price update: 2019/02/13 00:00
Last earnings filing: 2019/02/05
Last earnings reported: 2018/11/30
Last annual earnings reported: 2018/11/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.