Array Digital Infrastructure, Inc. (AD) 10-Year Financial Performance & Capital Metrics

AD • • Utilities

Communication ServicesTelecom ServicesIntegrated Telecommunications ProvidersRegional US Telecom Operators

AboutArray Digital Infrastructure, Inc. provides wireless telecommunications services in the United States. The company offers wireless services, including voice, messaging, and data services. It also provides wireless devices, such as handsets, tablets, mobile hotspots, home phones, and routers, as well as wireless essentials, including cases, screen protectors, chargers, and memory cards; and consumer electronics comprising Bluetooth audio, wi-fi enabled cameras, and networking products. In addition, it sells wireless devices to agents and other third-party distributors for resale; and offers option for customers to purchase devices and accessories under installment contracts. Further, the company offers wireless roaming, wireless eligible telecommunications carrier, and tower rental services. It serves consumer, business, and government customers. The company provides its products and services through retail sales, direct sales, telesales, ecommerce, resellers, and independent agents, as well as third-party national retailers. The company was formerly known as United States Cellular Corporation and changed its name to Array Digital Infrastructure, Inc. in August 2025. Array Digital Infrastructure, Inc. was incorporated in 1983 and is headquartered in Chicago, Illinois. As of Novemeber 7, 2024, Array Digital Infrastructure, Inc. operates as a subsidiary of Telephone and Data Systems, Inc.Show more

Revenue $3.77B -3.5%
EBITDA $653M -17.9%
Net Income -$39M -172.2%
Free Cash Flow $326M +154.7%
EBITDA Margin 17.32% -14.9%
Net Margin -1.03% -174.8%
ROE -0.84% -172.0%
Interest Coverage -0.07 -109.2%
Debt/Equity 0.83 -4.2%
Net Debt/EBITDA 5.63 +15.4%
CapEx / Revenue 14.24% -8.5%
CapEx Coverage 1.64 +15.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Trading at only 1.0x book value

✗Weaknesses

✗Weak 3Y average ROE of 0.3%
✗High leverage: 5.9x Debt/EBITDA

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-0.32%

5Y-1.29%

3Y-2.93%

TTM-25.64%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM949.34%

EPS CAGR

10Y-

5Y-

3Y-

TTM913.89%

ROCE

10Y Avg1.18%

5Y Avg1.2%

3Y Avg0.67%

Latest-0.12%

Peer Comparison

Regional US Telecom Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TUTELUS Corporation	21.09B	13.60	20.30	0.67%	5.77%	9.37%	6.92%	1.77
GLIBAGCI Liberty, Inc.	153.11M	38.95	15.96	3.98%	69.32%	49.06%	20.25%	0.80
LBRDALiberty Broadband Corporation	824.2M	45.15	7.43	3.57%	99.75%	8.69%		0.39
SHENShenandoah Telecommunications Company	638.47M	11.63	3.29	14.16%	-9.05%	-3.25%		0.43
CCOICogent Communications Holdings, Inc.	1.14B	23.21	-5.40	10.12%	-20.11%	-49.03%		10.49
FYBRFrontier Communications Parent, Inc.	9.62B	38.44	-29.57	3.23%	-6.24%	-8.11%		2.44
UZFArray Digital Infrastructure, Inc. 5.500% Senior Notes due 2070	975.14M	18.27	-39.72	-3.48%	9.02%	10.04%	33.43%	0.83
UZEArray Digital Infrastructure, Inc. 5.500% Senior Notes due 2070	951.08M	18.29	-39.76	-3.48%	9.02%	10.04%	34.28%	0.83

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	4.03B	3.99B	3.89B	3.97B	4.02B	4.04B	4.12B	4.17B	3.91B	3.77B
Revenue Growth %	0.04%	-0.01%	-0.03%	0.02%	0.01%	0%	0.02%	0.01%	-0.06%	-0.03%
Cost of Revenue	1.83B	1.84B	1.8B	1.79B	1.78B	1.79B	1.91B	1.97B	1.73B	1.63B
Gross Profit+	2.2B	2.15B	2.09B	2.18B	2.24B	2.24B	2.21B	2.2B	2.18B	2.14B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	0.14%	-0.02%	-0.03%	0.04%	0.03%	0%	-0.01%	-0.01%	-0.01%	-0.02%
Operating Expenses+	1.86B	2.1B	2.39B	2.02B	2.13B	2.07B	2.04B	2.13B	2.04B	2.15B
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-
EBITDA+	954M	666M	311M	798M	814M	856M	848M	769M	795M	653M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
EBITDA Growth %	1.06%	-0.3%	-0.53%	1.57%	0.02%	0.05%	-0.01%	-0.09%	0.03%	-0.18%
Depreciation & Amortization+	607M	618M	615M	640M	702M	683M	678M	700M	656M	665M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income (EBIT)+	347M	48M	-304M	158M	112M	173M	170M	69M	139M	-12M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	3.43%	-0.86%	-7.33%	1.52%	-0.29%	0.54%	-0.02%	-0.59%	1.01%	-1.09%
Interest Expense+	84M	107M	105M	101M	93M	104M	175M	163M	196M	183M
Interest Coverage	4.13x	0.45x	-2.90x	1.56x	1.20x	1.66x	0.97x	0.42x	0.71x	-0.07x
Interest / Revenue %	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	-1000K	-1000K
Pretax Income+	404M	82M	-272M	215M	185M	250M	180M	72M	111M	-22M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	157M	33M	-287M	51M	52M	17M	20M	37M	53M	10M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	241M	48M	12M	150M	127M	229M	155M	30M	54M	-39M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	6.6%	-0.8%	-0.75%	11.5%	-0.15%	0.8%	-0.32%	-0.81%	0.8%	-1.72%
EPS (Diluted)+	2.84	0.56	0.14	1.72	1.44	2.62	1.77	0.35	0.63	-0.46
EPS Growth %	6.57%	-0.8%	-0.75%	11.29%	-0.16%	0.82%	-0.32%	-0.8%	0.8%	-1.73%
EPS (Basic)	2.87	0.56	0.14	1.74	1.48	2.66	1.80	0.35	0.64	-0.45
Diluted Shares Outstanding	85M	85M	86M	87M	88M	87M	87M	86M	87M	86M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	7.06B	7.11B	6.84B	7.27B	8.16B	9.68B	10.34B	11.12B	10.75B	10.45B
Asset Growth %	0.09%	0.01%	-0.04%	0.06%	0.12%	0.19%	0.07%	0.08%	-0.03%	-0.03%
PP&E (Net)+	2.65B	2.47B	2.32B	2.2B	3.11B	3.39B	3.56B	3.54B	3.49B	3.43B
PP&E / Total Assets %	-	-	-	-	-	-	-	-	-	-
Total Current Assets+	1.67B	1.57B	1.48B	1.81B	1.57B	2.63B	1.6B	1.72B	1.4B	1.34B
Cash & Equivalents	715M	586M	352M	580M	285M	1.27B	156M	273M	150M	144M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Inventory	149M	138M	138M	142M	162M	146M	173M	261M	199M	179M
Other Current Assets	99M	82M	62M	80M	129M	226M	49M	45M	36M	21M
Long-Term Investments	363M	413M	415M	441M	447M	435M	439M	452M	461M	454M
Goodwill	370M	370M	0	0	0	0	0	0	0	0
Intangible Assets	1.83B	1.89B	2.22B	2.19B	2.47B	2.63B	4.09B	4.69B	4.69B	4.58B
Other Assets	172M	405M	400M	633M	566M	602M	644M	712M	705M	643M
Total Liabilities	3.49B	3.46B	3.15B	3.2B	3.94B	5.25B	5.77B	6.54B	6.1B	5.84B
Total Debt+	1.64B	1.63B	1.64B	1.62B	2.48B	3.48B	3.75B	4.18B	4.03B	3.82B
Net Debt	925M	1.04B	1.29B	1.04B	2.19B	2.21B	3.59B	3.9B	3.88B	3.68B
Long-Term Debt	1.63B	1.62B	1.62B	1.6B	1.5B	2.49B	2.73B	3.19B	3.04B	2.84B
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Capital Lease Obligations	0	2M	4M	5M	974M	994M	1.02B	976M	966M	963M
Total Current Liabilities+	748M	718M	733M	692M	750M	872M	903M	1.2B	901M	884M
Accounts Payable	285M	321M	310M	313M	304M	387M	346M	344M	241M	232M
Accrued Expenses	144M	130M	135M	141M	135M	137M	0	0	0	0
Deferred Revenue	0	0	0	0	0	0	191M	239M	229M	238M
Other Current Liabilities	308M	256M	270M	219M	198M	230M	187M	419M	237M	211M
Deferred Taxes	0	0	0	0	0	0	1000K	1000K	1000K	1000K
Other Liabilities	1.11B	1.13B	798M	899M	826M	1.01B	573M	604M	565M	570M
Total Equity+	3.57B	3.65B	3.69B	4.08B	4.22B	4.44B	4.57B	4.58B	4.65B	4.61B
Equity Growth %	0.08%	0.02%	0.01%	0.11%	0.04%	0.05%	0.03%	0%	0.02%	-0.01%
Shareholders Equity	3.56B	3.63B	3.68B	4.06B	4.2B	4.41B	4.55B	4.55B	4.63B	4.58B
Minority Interest	11M	12M	11M	21M	24M	25M	27M	28M	28M	31M
Common Stock	88M	88M	88M	88M	88M	88M	88M	88M	88M	88M
Additional Paid-in Capital	1.5B	1.52B	1.55B	1.59B	1.63B	1.65B	1.68B	1.7B	1.73B	1.78B
Retained Earnings	2.13B	2.16B	2.16B	2.44B	2.55B	2.74B	2.85B	2.86B	2.89B	2.82B
Accumulated OCI	0	0	0	0	0	0	0	0	0	0
Return on Assets (ROA)	0.04%	0.01%	0%	0.02%	0.02%	0.03%	0.02%	0%	0%	-0%
Return on Equity (ROE)	0.07%	0.01%	0%	0.04%	0.03%	0.05%	0.03%	0.01%	0.01%	-0.01%
Debt / Equity	0.46x	0.45x	0.44x	0.40x	0.59x	0.78x	0.82x	0.91x	0.87x	0.83x
Debt / Assets	0.23%	0.23%	0.24%	0.22%	0.3%	0.36%	0.36%	0.38%	0.37%	0.37%
Net Debt / EBITDA	0.97x	1.57x	4.14x	1.31x	2.70x	2.58x	4.24x	5.08x	4.88x	5.63x
Book Value per Share	42.02	42.89	42.88	46.87	47.97	50.99	52.57	53.28	53.49	53.58

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	555M	501M	469M	709M	724M	1.24B	802M	832M	866M	883M
Operating CF Growth %	2.23%	-0.1%	-0.06%	0.51%	0.02%	0.71%	-0.35%	0.04%	0.04%	0.02%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	241M	48M	12M	150M	127M	229M	160M	35M	58M	-32M
Depreciation & Amortization	607M	618M	615M	640M	702M	683M	678M	700M	656M	665M
Deferred Taxes	0	0	0	0	0	0	41M	33M	47M	-27M
Other Non-Cash Items	-117M	147M	104M	58M	34M	324M	107M	149M	117M	267M
Working Capital Changes	-201M	-338M	-292M	-176M	-180M	-31M	-211M	-109M	-35M	-45M
Capital Expenditures+	-581M	-443M	-465M	-512M	-650M	-989M	-2.05B	-1.19B	-738M	-557M
CapEx / Revenue %	-	-	-	-	-	-	-	-	-	-
CapEx / D&A	-	-	-	-	-	-	-	-	-	-
CapEx Coverage (OCF/CapEx)	-	-	-	-	-	-	-	-	-	-
Cash from Investing+	-550M	-618M	-683M	-464M	-864M	-1.16B	-2.04B	-1.18B	-721M	-556M
Acquisitions	0	0	0	0	0	0	3M	8M	0	0
Purchase of Investments	0	0	0	0	0	0	0	0	0	0
Sale of Investments	0	0	0	0	0	0	1000K	0	0	0
Other Investing	31M	-175M	-218M	48M	-214M	-174M	-1.32B	-585M	-113M	-19M
Cash from Financing+	497M	-12M	-20M	-14M	-152M	926M	142M	456M	-274M	-347M
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Dividend Payout Ratio %	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	-1000K	-1000K	-1000K	-1000K	1000K	1000K	1000K	-1000K	-1000K
Stock Issued	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-6M	-5M	0	0	-30M	-34M	-31M	-43M	0	-54M
Other Financing	-22M	4M	-6M	5M	-6M	-57M	-51M	-32M	-76M	-85M
Net Change in Cash+	503M	-129M	-234M	231M	-292M	1B	-1.09B	109M	-129M	-20M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	212M	715M	586M	352M	583M	291M	1.29B	199M	308M	179M
Cash at End	715M	586M	352M	583M	291M	1.29B	199M	308M	179M	159M
Free Cash Flow+	-26M	58M	4M	197M	74M	248M	-1.24B	-355M	128M	326M
FCF Growth %	0.94%	3.23%	-0.93%	48.25%	-0.62%	2.35%	-6.02%	0.71%	1.36%	1.55%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF / Net Income %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	7%	1.33%	0.33%	3.86%	3.06%	5.29%	3.44%	0.66%	1.17%	-0.84%
EBITDA Margin	23.67%	16.69%	7.99%	20.12%	20.24%	21.2%	20.57%	18.45%	20.35%	17.32%
Net Debt / EBITDA	0.97x	1.57x	4.14x	1.31x	2.70x	2.58x	4.24x	5.08x	4.88x	5.63x
Interest Coverage	4.13x	0.45x	-2.90x	1.56x	1.20x	1.66x	0.97x	0.42x	0.71x	-0.07x
CapEx / Revenue	14.41%	11.1%	11.95%	12.91%	16.16%	24.5%	17.56%	14.44%	15.57%	14.24%
Debt / Equity	0.46x	0.45x	0.44x	0.40x	0.59x	0.78x	0.82x	0.91x	0.87x	0.83x
EPS Growth	656.86%	-80.28%	-75%	1128.57%	-16.28%	81.94%	-32.44%	-80.23%	80%	-173.02%

Frequently Asked Questions

Growth & Financials

Array Digital Infrastructure, Inc. (AD) reported $2.83B in revenue for fiscal year 2024. This represents a 27% decrease from $3.89B in 2014.

Array Digital Infrastructure, Inc. (AD) saw revenue decline by 3.5% over the past year.

Yes, Array Digital Infrastructure, Inc. (AD) is profitable, generating $254.8M in net income for fiscal year 2024 (-1.0% net margin).

Dividend & Returns

Array Digital Infrastructure, Inc. (AD) has a return on equity (ROE) of -0.8%. Negative ROE indicates the company is unprofitable.

Array Digital Infrastructure, Inc. (AD) generated $2.83B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Industry Metrics

Array Digital Infrastructure, Inc. (AD) has a dividend payout ratio of 0%. This suggests the dividend is well-covered and sustainable.

US Stock Screener

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Array Digital Infrastructure, Inc. (AD) 10-Year Financial Performance & Capital Metrics

AD • • Utilities

Communication ServicesTelecom ServicesIntegrated Telecommunications ProvidersRegional US Telecom Operators

Revenue $3.77B -3.5%
EBITDA $653M -17.9%
Net Income -$39M -172.2%
Free Cash Flow $326M +154.7%
EBITDA Margin 17.32% -14.9%
Net Margin -1.03% -174.8%
ROE -0.84% -172.0%
Interest Coverage -0.07 -109.2%
Debt/Equity 0.83 -4.2%
Net Debt/EBITDA 5.63 +15.4%
CapEx / Revenue 14.24% -8.5%
CapEx Coverage 1.64 +15.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Trading at only 1.0x book value

✗Weaknesses

✗Weak 3Y average ROE of 0.3%
✗High leverage: 5.9x Debt/EBITDA

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-0.32%

5Y-1.29%

3Y-2.93%

TTM-25.64%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM949.34%

EPS CAGR

10Y-

5Y-

3Y-

TTM913.89%

ROCE

10Y Avg1.18%

5Y Avg1.2%

3Y Avg0.67%

Latest-0.12%

Peer Comparison

Regional US Telecom Operators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TUTELUS Corporation	21.09B	13.60	20.30	0.67%	5.77%	9.37%	6.92%	1.77
GLIBAGCI Liberty, Inc.	153.11M	38.95	15.96	3.98%	69.32%	49.06%	20.25%	0.80
LBRDALiberty Broadband Corporation	824.2M	45.15	7.43	3.57%	99.75%	8.69%		0.39
SHENShenandoah Telecommunications Company	638.47M	11.63	3.29	14.16%	-9.05%	-3.25%		0.43
CCOICogent Communications Holdings, Inc.	1.14B	23.21	-5.40	10.12%	-20.11%	-49.03%		10.49
FYBRFrontier Communications Parent, Inc.	9.62B	38.44	-29.57	3.23%	-6.24%	-8.11%		2.44
UZFArray Digital Infrastructure, Inc. 5.500% Senior Notes due 2070	975.14M	18.27	-39.72	-3.48%	9.02%	10.04%	33.43%	0.83
UZEArray Digital Infrastructure, Inc. 5.500% Senior Notes due 2070	951.08M	18.29	-39.76	-3.48%	9.02%	10.04%	34.28%	0.83

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	4.03B	3.99B	3.89B	3.97B	4.02B	4.04B	4.12B	4.17B	3.91B	3.77B
Revenue Growth %	0.04%	-0.01%	-0.03%	0.02%	0.01%	0%	0.02%	0.01%	-0.06%	-0.03%
Cost of Revenue	1.83B	1.84B	1.8B	1.79B	1.78B	1.79B	1.91B	1.97B	1.73B	1.63B
Gross Profit+	2.2B	2.15B	2.09B	2.18B	2.24B	2.24B	2.21B	2.2B	2.18B	2.14B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	0.14%	-0.02%	-0.03%	0.04%	0.03%	0%	-0.01%	-0.01%	-0.01%	-0.02%
Operating Expenses+	1.86B	2.1B	2.39B	2.02B	2.13B	2.07B	2.04B	2.13B	2.04B	2.15B
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-
EBITDA+	954M	666M	311M	798M	814M	856M	848M	769M	795M	653M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
EBITDA Growth %	1.06%	-0.3%	-0.53%	1.57%	0.02%	0.05%	-0.01%	-0.09%	0.03%	-0.18%
Depreciation & Amortization+	607M	618M	615M	640M	702M	683M	678M	700M	656M	665M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income (EBIT)+	347M	48M	-304M	158M	112M	173M	170M	69M	139M	-12M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	3.43%	-0.86%	-7.33%	1.52%	-0.29%	0.54%	-0.02%	-0.59%	1.01%	-1.09%
Interest Expense+	84M	107M	105M	101M	93M	104M	175M	163M	196M	183M
Interest Coverage	4.13x	0.45x	-2.90x	1.56x	1.20x	1.66x	0.97x	0.42x	0.71x	-0.07x
Interest / Revenue %	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	-1000K	-1000K
Pretax Income+	404M	82M	-272M	215M	185M	250M	180M	72M	111M	-22M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	157M	33M	-287M	51M	52M	17M	20M	37M	53M	10M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	241M	48M	12M	150M	127M	229M	155M	30M	54M	-39M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	6.6%	-0.8%	-0.75%	11.5%	-0.15%	0.8%	-0.32%	-0.81%	0.8%	-1.72%
EPS (Diluted)+	2.84	0.56	0.14	1.72	1.44	2.62	1.77	0.35	0.63	-0.46
EPS Growth %	6.57%	-0.8%	-0.75%	11.29%	-0.16%	0.82%	-0.32%	-0.8%	0.8%	-1.73%
EPS (Basic)	2.87	0.56	0.14	1.74	1.48	2.66	1.80	0.35	0.64	-0.45
Diluted Shares Outstanding	85M	85M	86M	87M	88M	87M	87M	86M	87M	86M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	7.06B	7.11B	6.84B	7.27B	8.16B	9.68B	10.34B	11.12B	10.75B	10.45B
Asset Growth %	0.09%	0.01%	-0.04%	0.06%	0.12%	0.19%	0.07%	0.08%	-0.03%	-0.03%
PP&E (Net)+	2.65B	2.47B	2.32B	2.2B	3.11B	3.39B	3.56B	3.54B	3.49B	3.43B
PP&E / Total Assets %	-	-	-	-	-	-	-	-	-	-
Total Current Assets+	1.67B	1.57B	1.48B	1.81B	1.57B	2.63B	1.6B	1.72B	1.4B	1.34B
Cash & Equivalents	715M	586M	352M	580M	285M	1.27B	156M	273M	150M	144M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Inventory	149M	138M	138M	142M	162M	146M	173M	261M	199M	179M
Other Current Assets	99M	82M	62M	80M	129M	226M	49M	45M	36M	21M
Long-Term Investments	363M	413M	415M	441M	447M	435M	439M	452M	461M	454M
Goodwill	370M	370M	0	0	0	0	0	0	0	0
Intangible Assets	1.83B	1.89B	2.22B	2.19B	2.47B	2.63B	4.09B	4.69B	4.69B	4.58B
Other Assets	172M	405M	400M	633M	566M	602M	644M	712M	705M	643M
Total Liabilities	3.49B	3.46B	3.15B	3.2B	3.94B	5.25B	5.77B	6.54B	6.1B	5.84B
Total Debt+	1.64B	1.63B	1.64B	1.62B	2.48B	3.48B	3.75B	4.18B	4.03B	3.82B
Net Debt	925M	1.04B	1.29B	1.04B	2.19B	2.21B	3.59B	3.9B	3.88B	3.68B
Long-Term Debt	1.63B	1.62B	1.62B	1.6B	1.5B	2.49B	2.73B	3.19B	3.04B	2.84B
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Capital Lease Obligations	0	2M	4M	5M	974M	994M	1.02B	976M	966M	963M
Total Current Liabilities+	748M	718M	733M	692M	750M	872M	903M	1.2B	901M	884M
Accounts Payable	285M	321M	310M	313M	304M	387M	346M	344M	241M	232M
Accrued Expenses	144M	130M	135M	141M	135M	137M	0	0	0	0
Deferred Revenue	0	0	0	0	0	0	191M	239M	229M	238M
Other Current Liabilities	308M	256M	270M	219M	198M	230M	187M	419M	237M	211M
Deferred Taxes	0	0	0	0	0	0	1000K	1000K	1000K	1000K
Other Liabilities	1.11B	1.13B	798M	899M	826M	1.01B	573M	604M	565M	570M
Total Equity+	3.57B	3.65B	3.69B	4.08B	4.22B	4.44B	4.57B	4.58B	4.65B	4.61B
Equity Growth %	0.08%	0.02%	0.01%	0.11%	0.04%	0.05%	0.03%	0%	0.02%	-0.01%
Shareholders Equity	3.56B	3.63B	3.68B	4.06B	4.2B	4.41B	4.55B	4.55B	4.63B	4.58B
Minority Interest	11M	12M	11M	21M	24M	25M	27M	28M	28M	31M
Common Stock	88M	88M	88M	88M	88M	88M	88M	88M	88M	88M
Additional Paid-in Capital	1.5B	1.52B	1.55B	1.59B	1.63B	1.65B	1.68B	1.7B	1.73B	1.78B
Retained Earnings	2.13B	2.16B	2.16B	2.44B	2.55B	2.74B	2.85B	2.86B	2.89B	2.82B
Accumulated OCI	0	0	0	0	0	0	0	0	0	0
Return on Assets (ROA)	0.04%	0.01%	0%	0.02%	0.02%	0.03%	0.02%	0%	0%	-0%
Return on Equity (ROE)	0.07%	0.01%	0%	0.04%	0.03%	0.05%	0.03%	0.01%	0.01%	-0.01%
Debt / Equity	0.46x	0.45x	0.44x	0.40x	0.59x	0.78x	0.82x	0.91x	0.87x	0.83x
Debt / Assets	0.23%	0.23%	0.24%	0.22%	0.3%	0.36%	0.36%	0.38%	0.37%	0.37%
Net Debt / EBITDA	0.97x	1.57x	4.14x	1.31x	2.70x	2.58x	4.24x	5.08x	4.88x	5.63x
Book Value per Share	42.02	42.89	42.88	46.87	47.97	50.99	52.57	53.28	53.49	53.58

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	555M	501M	469M	709M	724M	1.24B	802M	832M	866M	883M
Operating CF Growth %	2.23%	-0.1%	-0.06%	0.51%	0.02%	0.71%	-0.35%	0.04%	0.04%	0.02%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	241M	48M	12M	150M	127M	229M	160M	35M	58M	-32M
Depreciation & Amortization	607M	618M	615M	640M	702M	683M	678M	700M	656M	665M
Deferred Taxes	0	0	0	0	0	0	41M	33M	47M	-27M
Other Non-Cash Items	-117M	147M	104M	58M	34M	324M	107M	149M	117M	267M
Working Capital Changes	-201M	-338M	-292M	-176M	-180M	-31M	-211M	-109M	-35M	-45M
Capital Expenditures+	-581M	-443M	-465M	-512M	-650M	-989M	-2.05B	-1.19B	-738M	-557M
CapEx / Revenue %	-	-	-	-	-	-	-	-	-	-
CapEx / D&A	-	-	-	-	-	-	-	-	-	-
CapEx Coverage (OCF/CapEx)	-	-	-	-	-	-	-	-	-	-
Cash from Investing+	-550M	-618M	-683M	-464M	-864M	-1.16B	-2.04B	-1.18B	-721M	-556M
Acquisitions	0	0	0	0	0	0	3M	8M	0	0
Purchase of Investments	0	0	0	0	0	0	0	0	0	0
Sale of Investments	0	0	0	0	0	0	1000K	0	0	0
Other Investing	31M	-175M	-218M	48M	-214M	-174M	-1.32B	-585M	-113M	-19M
Cash from Financing+	497M	-12M	-20M	-14M	-152M	926M	142M	456M	-274M	-347M
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Dividend Payout Ratio %	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	-1000K	-1000K	-1000K	-1000K	1000K	1000K	1000K	-1000K	-1000K
Stock Issued	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-6M	-5M	0	0	-30M	-34M	-31M	-43M	0	-54M
Other Financing	-22M	4M	-6M	5M	-6M	-57M	-51M	-32M	-76M	-85M
Net Change in Cash+	503M	-129M	-234M	231M	-292M	1B	-1.09B	109M	-129M	-20M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	212M	715M	586M	352M	583M	291M	1.29B	199M	308M	179M
Cash at End	715M	586M	352M	583M	291M	1.29B	199M	308M	179M	159M
Free Cash Flow+	-26M	58M	4M	197M	74M	248M	-1.24B	-355M	128M	326M
FCF Growth %	0.94%	3.23%	-0.93%	48.25%	-0.62%	2.35%	-6.02%	0.71%	1.36%	1.55%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF / Net Income %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	7%	1.33%	0.33%	3.86%	3.06%	5.29%	3.44%	0.66%	1.17%	-0.84%
EBITDA Margin	23.67%	16.69%	7.99%	20.12%	20.24%	21.2%	20.57%	18.45%	20.35%	17.32%
Net Debt / EBITDA	0.97x	1.57x	4.14x	1.31x	2.70x	2.58x	4.24x	5.08x	4.88x	5.63x
Interest Coverage	4.13x	0.45x	-2.90x	1.56x	1.20x	1.66x	0.97x	0.42x	0.71x	-0.07x
CapEx / Revenue	14.41%	11.1%	11.95%	12.91%	16.16%	24.5%	17.56%	14.44%	15.57%	14.24%
Debt / Equity	0.46x	0.45x	0.44x	0.40x	0.59x	0.78x	0.82x	0.91x	0.87x	0.83x
EPS Growth	656.86%	-80.28%	-75%	1128.57%	-16.28%	81.94%	-32.44%	-80.23%	80%	-173.02%

Frequently Asked Questions

Growth & Financials

Array Digital Infrastructure, Inc. (AD) reported $2.83B in revenue for fiscal year 2024. This represents a 27% decrease from $3.89B in 2014.

Array Digital Infrastructure, Inc. (AD) saw revenue decline by 3.5% over the past year.

Yes, Array Digital Infrastructure, Inc. (AD) is profitable, generating $254.8M in net income for fiscal year 2024 (-1.0% net margin).

Dividend & Returns

Array Digital Infrastructure, Inc. (AD) has a return on equity (ROE) of -0.8%. Negative ROE indicates the company is unprofitable.

Array Digital Infrastructure, Inc. (AD) generated $2.83B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Industry Metrics

Array Digital Infrastructure, Inc. (AD) has a dividend payout ratio of 0%. This suggests the dividend is well-covered and sustainable.