Art's-Way Manufacturing Co., Inc.

AI-generated fair value estimate for this company.

Method: 10-year two-stage DCF on normalized NOPAT: approximately $0.79M (roughly 4% normalized EBIT margin on $25.99M trailing revenue, after estimated cash taxes); 8% growth years 1-5 reflecting current modular-building backlog strength, 3% years 6-10 as that backlog is expected to be substantially fulfilled by fiscal 2027; 12% discount rate for micro-cap/illiquidity risk; 2% terminal growth; $6.54M net debt ($6.55M debt against roughly $10K cash) subtracted; 5.20M shares outstanding.

Reasoning: Art's-Way is a tiny, roughly break-even agricultural-equipment manufacturer with almost no trailing free cash flow to anchor a standard DCF, so normalized operating earnings were capitalized instead, using a higher discount rate to reflect its very thin cash balance and micro-cap illiquidity.