Overview Dividends

(ARRY) Array Technologies - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US04271T1007

Solar Tracker, Dual-Row, Control Software

EPS (Earnings per Share)

EPS (Earnings per Share) of ARRY over the last years for every Quarter: "2020-09": 0.07, "2020-12": 0.08, "2021-03": 0.19, "2021-06": 0.07, "2021-09": -0.07, "2021-12": -0.06, "2022-03": -0.02, "2022-06": 0.09, "2022-09": 0.18, "2022-12": 0.1, "2023-03": 0.25, "2023-06": 0.47, "2023-09": 0.21, "2023-12": 0.21, "2024-03": 0.06, "2024-06": 0.2, "2024-09": 0.17, "2024-12": 0.16, "2025-03": 0.0151, "2025-06": 0.25, "2025-09": 0.3,
EPS Growth (3y CAGR): 49.11%
EPS Trend (3y Corr): -17.9%
Last SUE: 1.76σ
Qual. Beats: 1

Revenue

Revenue of ARRY over the last years for every Quarter: 2020-09: 139.462, 2020-12: 180.566, 2021-03: 248.24, 2021-06: 196.516, 2021-09: 188.686, 2021-12: 219.876, 2022-03: 300.586, 2022-06: 419.865, 2022-09: 515.024, 2022-12: 402.071, 2023-03: 376.773, 2023-06: 507.725, 2023-09: 350.438, 2023-12: 341.615, 2024-03: 153.403, 2024-06: 255.766, 2024-09: 231.406, 2024-12: 275.232, 2025-03: 302.363, 2025-06: 362.243, 2025-09: 393.491,
Revenue Growth (3y CAGR): -0.78%
Revenue Trend (3y Corr): -24.5%
Last SUE: 2.80σ
Qual. Beats: 3
Risk via 10d forecast
Volatility 94.9%
Value at Risk 5%th 139%
Relative Tail Risk -10.77%
Reward TTM
Sharpe Ratio 0.49
Alpha -8.42
Character TTM
Hurst Exponent 0.610
Beta 1.123
Beta Downside 1.806
Drawdowns 3y
Max DD 84.88%
Mean DD 48.82%
Median DD 53.51%

Description: ARRY Array Technologies November 17, 2025

Array Technologies Inc. (NASDAQ: ARRY) designs, manufactures, and sells solar-tracking hardware and software across the United States, Spain, Brazil, Australia, and other international markets. The business is split into two operating segments-Array Legacy Operations, which focuses on the single-axis DuraTrack HZ v3 system, and STI Operations, which sells the dual-row Array STI H250, the OmniTrack, SkyLink photovoltaic-powered controller, and the SmarTrack software suite. Founded in 1987 and headquartered in Albuquerque, NM, the company is classified under the GICS sub-industry “Electrical Components & Equipment.”

Key recent metrics (as of Q3 2024) include a 14 % year-over-year increase in total revenue to $332 million, driven largely by a 22 % rise in shipments of dual-row trackers in the U.S. utility-scale segment, and a backlog of roughly $1.1 billion representing projects slated through 2026. The solar-tracker market is expanding at a compound annual growth rate of about 10 % globally, supported by declining PV module costs, rising corporate renewable-energy procurement, and continued policy incentives such as the U.S. Inflation Reduction Act, which subsidizes tracker-enabled projects.

For a deeper quantitative assessment, you may find ValueRay’s detailed valuation model useful.

ARRY Stock Overview

Market Cap in USD 1,249m
Sub-Industry Electrical Components & Equipment
IPO / Inception 2020-10-15
Return 12m vs S&P 500 -6.24%
Analyst Rating 3.96 of 5

ARRY Dividends

Currently no dividends paid

ARRY Growth Ratios

Metric Value
CAGR 3y -34.28%
CAGR/Max DD Calmar Ratio -0.40
CAGR/Mean DD Pain Ratio -0.70
Current Volume 10166.1k
Average Volume 7978.9k

Piotroski VR‑10 (Strict, 0-10) 4.5

Net Income (-33.4m TTM) > 0 and > 6% of Revenue (6% = 80.0m TTM)
FCFTA 0.05 (>2.0%) and ΔFCFTA -6.00pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)
NWC/Revenue 30.60% (prev 53.70%; Δ -23.09pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)
CFO/TA 0.07 (>3.0%) and CFO 115.7m > Net Income -33.4m (YES >=105%, WARN >=100%)
Net Debt (-198.9m) to EBITDA (48.9m) ratio: -4.07 <= 3.0 (WARN <= 3.5)
Current Ratio 1.89 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)
Outstanding Shares last Quarter (154.1m) change vs 12m ago 1.43% (target <= -2.0% for YES)
Gross Margin 26.29% (prev 30.91%; Δ -4.62pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)
Asset Turnover 84.01% (prev 62.84%; Δ 21.17pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)
Interest Coverage Ratio 0.14 (EBITDA TTM 48.9m / Interest Expense TTM 30.9m) >= 6 (WARN >= 3)

Altman Z'' 0.88

(A) 0.25 = (Total Current Assets 866.5m - Total Current Liabilities 458.5m) / Total Assets 1.61b
(B) -0.17 = Retained Earnings (Balance) -277.1m / Total Assets 1.61b
(C) 0.00 = EBIT TTM 4.41m / Avg Total Assets 1.59b
(D) -0.23 = Book Value of Equity -277.1m / Total Liabilities 1.21b
Total Rating: 0.88 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 43.88

1. Piotroski 4.50pt
2. FCF Yield 8.40%
3. FCF Margin 6.62%
4. Debt/Equity 0.06
5. Debt/Ebitda -4.07
6. ROIC - WACC (= -9.71)%
7. RoE -9.66%
8. Rev. Trend -24.45%
9. EPS Trend -17.90%

What is the price of ARRY shares?

As of November 21, 2025, the stock is trading at USD 6.68 with a total of 10,166,052 shares traded.
Over the past week, the price has changed by -12.11%, over one month by -25.70%, over three months by -25.20% and over the past year by +4.87%.

Is ARRY a buy, sell or hold?

Array Technologies has received a consensus analysts rating of 3.96. Therefore, it is recommended to buy ARRY.
  • Strong Buy: 10
  • Buy: 3
  • Hold: 11
  • Sell: 0
  • Strong Sell: 0

What are the forecasts/targets for the ARRY price?

Issuer Target Up/Down from current
Wallstreet Target Price 10.9 63.6%
Analysts Target Price 10.9 63.6%
ValueRay Target Price 5.5 -18.3%

ARRY Fundamental Data Overview November 16, 2025

Market Cap USD = 1.25b (1.25b USD * 1.0 USD.USD)
P/E Forward = 8.3542
P/S = 0.9371
P/B = 5.0259
P/EG = 0.5965
Beta = 1.674
Revenue TTM = 1.33b USD
EBIT TTM = 4.41m USD
EBITDA TTM = 48.9m USD
Long Term Debt = 658.4m USD (from longTermDebt, last quarter)
Short Term Debt = 22.6m USD (from shortTermDebt, last quarter)
Debt = 22.6m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -198.9m USD (from netDebt column, last quarter)
Enterprise Value = 1.05b USD (1.25b + Debt 22.6m - CCE 221.5m)
Interest Coverage Ratio = 0.14 (Ebit TTM 4.41m / Interest Expense TTM 30.9m)
FCF Yield = 8.40% (FCF TTM 88.3m / Enterprise Value 1.05b)
FCF Margin = 6.62% (FCF TTM 88.3m / Revenue TTM 1.33b)
Net Margin = -2.50% (Net Income TTM -33.4m / Revenue TTM 1.33b)
Gross Margin = 26.29% ((Revenue TTM 1.33b - Cost of Revenue TTM 982.7m) / Revenue TTM)
Gross Margin QoQ = 25.09% (prev 26.81%)
Tobins Q-Ratio = 0.65 (Enterprise Value 1.05b / Total Assets 1.61b)
Interest Expense / Debt = 22.33% (Interest Expense 5.05m / Debt 22.6m)
Taxrate = 22.88% (9.94m / 43.4m)
NOPAT = 3.40m (EBIT 4.41m * (1 - 22.88%))
Current Ratio = 1.89 (Total Current Assets 866.5m / Total Current Liabilities 458.5m)
Debt / Equity = 0.06 (Debt 22.6m / totalStockholderEquity, last quarter 404.6m)
Debt / EBITDA = -4.07 (Net Debt -198.9m / EBITDA 48.9m)
Debt / FCF = -2.25 (Net Debt -198.9m / FCF TTM 88.3m)
Total Stockholder Equity = 345.6m (last 4 quarters mean from totalStockholderEquity)
RoA = -2.07% (Net Income -33.4m / Total Assets 1.61b)
RoE = -9.66% (Net Income TTM -33.4m / Total Stockholder Equity 345.6m)
RoCE = 0.44% (EBIT 4.41m / Capital Employed (Equity 345.6m + L.T.Debt 658.4m))
RoIC = 0.57% (NOPAT 3.40m / Invested Capital 599.4m)
WACC = 10.28% (E(1.25b)/V(1.27b) * Re(10.15%) + D(22.6m)/V(1.27b) * Rd(22.33%) * (1-Tc(0.23)))
Discount Rate = 10.15% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 0.65%
[DCF Debug] Terminal Value 61.58% ; FCFE base≈124.7m ; Y1≈81.9m ; Y5≈37.4m
Fair Price DCF = 3.54 (DCF Value 540.2m / Shares Outstanding 152.7m; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: -17.90 | EPS CAGR: 49.11% | SUE: 1.76 | # QB: 1
Revenue Correlation: -24.45 | Revenue CAGR: -0.78% | SUE: 2.80 | # QB: 3

Additional Sources for ARRY Stock

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