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Art's-Way Manufacturing CoARTW -1.64%53 Beneish M-Score is -1.62 as of Aug. 20, 2026. GuruFocus rates ARTW with a GF Score™ of 53/100 and a GF Value™ of $1.87 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 207 Farm & Heavy Construction Machinery companies, Art's-Way Manufacturing Co ranks worse than 86.47% on this metric.
The zones of discrimination for M-Score is as such:
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Warning Sign:
Beneish M-Score -1.62 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for Art's-Way Manufacturing Co's Beneish M-Score or its related term are showing as below:
ARTW'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.5 Med: -2.59 Max: -0.1
Current: -1.62
During the past 13 years, the highest Beneish M-Score of Art's-Way Manufacturing Co was -0.10. The lowest was -3.50. And the median was -2.59.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
ARTW vs GP, CLEV, HCAI: Beneish M-Score Comparison
For the Farm & Heavy Construction Machinery subindustry, Art's-Way Manufacturing Co's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Art's-Way Manufacturing Co Beneish M-Score vs Farm & Heavy Construction Machinery Industry
For the Farm & Heavy Construction Machinery industry and Industrials sector, Art's-Way Manufacturing Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Art's-Way Manufacturing Co's Beneish M-Score falls into.
Art's-Way Manufacturing Co Beneish M-Score Calculation
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Art's-Way Manufacturing Co for today is based on a combination of the following eight different indices:
M
=
-4.84
+
0.92 * DSRI
+
0.528 * GMI
+
0.404 * AQI
+
0.892 * SGI
+
0.115 * DEPI
=
-4.84
+
0.92 * 1.4813
+
0.528 * 1.2432
+
0.404 * 0.8142
+
0.892 * 1.1049
+
0.115 * 1.2069
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.8928
+
4.679 * 0.062885
-
0.327 * 1.2001
=
-1.62
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
DEPI
=
(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))
/
(Depreciation_t / (Depreciaton_t + PPE_t))
=
(0.954 / (0.954 + 5.127))
/
(0.804 / (0.804 + 5.381))
=
0.156882
/
0.129992
=
1.2069
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
TATA
=
(IncomefromContinuingOperations_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(NetIncome_t - NonOperatingIncome_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(-0.023 - 0.134
-
-1.646)
/
23.678
=
0.062885
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Art's-Way Manufacturing Co has a M-score of -1.62 signals that the company is likely to be a manipulator.
Art's-Way Manufacturing Co (ARTW) has a Beneish M-Score of -1.62 as of Aug. 20, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Art's-Way Manufacturing Co and its competitors. According to the industry distribution chart, Art's-Way Manufacturing Co ranks #179 out of 207 companies in the Farm & Heavy Construction Machinery industry, placing it in the top 86.5%.
Is Art's-Way Manufacturing Co's Beneish M-Score too high?
Art's-Way Manufacturing Co's current Beneish M-Score is -1.62. Based on the distribution chart, Art's-Way Manufacturing Co ranks #179 out of 207 companies in the Farm & Heavy Construction Machinery industry, which is in the bottom quartile relative to peers. Overall, Art's-Way Manufacturing Co has a GF Score™ of 53/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Art's-Way Manufacturing Co's Beneish M-Score compare to GP and CLEV?
According to the Farm & Heavy Construction Machinery industry distribution chart, Art's-Way Manufacturing Co ranks #179 out of 207 companies for Beneish M-Score. This places Art's-Way Manufacturing Co in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Farm & Heavy Construction Machinery company?
A good Beneish M-Score depends on the Farm & Heavy Construction Machinery industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Art's-Way Manufacturing Co and its competitors. Art's-Way Manufacturing Co's current Beneish M-Score is -1.62. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Art's-Way Manufacturing Co stock overvalued right now?
Based on GuruFocus' analysis, Art's-Way Manufacturing Co (ARTW) is currently considered Significantly Overvalued. The stock's GF Value™ is $1.87, compared to a current price of $2.99 — trading 59.9% above its estimated fair value. The current Beneish M-Score is -1.62. Art's-Way Manufacturing Co's overall GF Score™ is 53/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Art's-Way Manufacturing Co (ARTW), the current Beneish M-Score is -1.62 as of Aug. 20, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Art's-Way Manufacturing Co (ARTW) Overvalued in 2026?
Based on GuruFocus' analysis, Art's-Way Manufacturing Co stock appears to be overvalued.
The current stock price of $2.99 is trading 59.9% above its estimated GF Value™ of $1.87.
GuruFocus considers Art's-Way Manufacturing Co to be Significantly Overvalued.
Key valuation signals for ARTW:
Beneish M-Score: -1.62
GF Value™: $1.87 vs. price of $2.99 (59.9% above fair value)
No single metric tells the full story. See the ARTW stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Art's-Way Manufacturing Co Inc is a manufacturer of agricultural equipment. It has two reportable segments: Agricultural Products and Modular Buildings. The Agricultural Products segment fabricates and sells farming products as well as related equipment and replacement parts for these products in the United States and world wide. Its Modular Buildings segment manufactures and installs modular buildings for animal containment and various laboratory uses. It derives revenues from the Agricultural Products segment.
53GF Score
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