8-K Announcements
6Mar 19, 2026·SEC
Feb 25, 2026·SEC
Feb 18, 2026·SEC
Array Technologies, Inc. (ARRY) fundamental analysis — strengths, weaknesses & financial health based on data analysis
No significant strengths identified
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Array Technologies, Inc. (ARRY) stock price & volume — 10-year historical chart
Array Technologies, Inc. (ARRY) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Array Technologies, Inc. (ARRY) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q1 2026Latest | Feb 25, 2026 | $0.01vs $0.01-27.2% | $226Mvs $211M+6.9% |
| Q4 2025 | Nov 5, 2025 | $0.30vs $0.21+42.9% | $393Mvs $211M+86.4% |
| Q3 2025 | Aug 7, 2025 | $0.25vs $0.21+19.0% | $362Mvs $269M+34.8% |
| Q2 2025 | May 6, 2025 | $0.13vs $0.09+44.4% | $302Mvs $282M+7.2% |
Array Technologies, Inc. (ARRY) competitors in Solar racking, trackers and BOS components — business model, growth, and fundamentals comparison
Array Technologies, Inc. (ARRY) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Array Technologies, Inc. (ARRY) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 290.78M | 647.9M | 872.66M | 853.32M | 1.64B | 1.58B | 915.81M | 1.28B |
| Revenue Growth % | - | 122.81% | 34.69% | -2.22% | 91.9% | -3.72% | -41.91% | 40.22% |
| Cost of Goods Sold | 279.23M | 497.14M | 669.86M | 785.02M | 1.42B | 1.16B | 618.13M | 985.59M |
| COGS % of Revenue | 96.03% | 76.73% | 76.76% | 92% | 87.01% | 73.64% | 67.5% | 76.75% |
| Gross Profit | 11.55M▲ 0% | 150.76M▲ 1204.7% | 202.8M▲ 34.5% | 68.3M▼ 66.3% | 212.72M▲ 211.4% | 415.55M▲ 95.4% | 297.68M▼ 28.4% | 298.55M▲ 0.3% |
| Gross Margin % | 3.97% | 23.27% | 23.24% | 8% | 12.99% | 26.36% | 32.5% | 23.25% |
| Gross Profit Growth % | - | 1204.73% | 34.52% | -66.32% | 211.44% | 95.35% | -28.37% | 0.29% |
| Operating Expenses | 73.59M | 67.35M | 107.59M | 93.04M | 230.85M | 201.43M | 524.68M | 327.55M |
| OpEx % of Revenue | 25.31% | 10.4% | 12.33% | 10.9% | 14.1% | 12.78% | 57.29% | 25.51% |
| Selling, General & Admin | 46.88M | 41.21M | 55.63M | 80.97M | 150.78M | 159.53M | 160.57M | 198.61M |
| SG&A % of Revenue | 16.12% | 6.36% | 6.38% | 9.49% | 9.21% | 10.12% | 17.53% | 15.47% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - |
| Other Operating Expenses | -447K | 26.14M | 51.95M | 12.07M | 80.07M | 41.89M | 364.12M | 128.94M |
| Operating Income | -61.21M▲ 0% | 83.41M▲ 236.3% | 95.21M▲ 14.2% | -24.74M▼ 126.0% | -18.13M▲ 26.7% | 214.12M▲ 1280.9% | -227M▼ 206.0% | -29M▲ 87.2% |
| Operating Margin % | -21.05% | 12.87% | 10.91% | -2.9% | -1.11% | 13.58% | -24.79% | -2.26% |
| Operating Income Growth % | - | 236.28% | 14.15% | -125.99% | 26.71% | 1280.85% | -206.02% | 87.23% |
| EBITDA | -32.8M | 110.72M | 122.69M | 1.21M | 82.93M | 268.95M | -174.23M | -2.8M |
| EBITDA Margin % | -11.28% | 17.09% | 14.06% | 0.14% | 5.06% | 17.06% | -19.02% | -0.22% |
| EBITDA Growth % | - | 437.6% | 10.8% | -99.02% | 6781.83% | 224.33% | -164.78% | 98.4% |
| D&A (Non-Cash Add-back) | 28.41M | 27.32M | 27.47M | 25.95M | 101.06M | 54.83M | 52.78M | 26.2M |
| EBIT | -61.65M | 83.38M | 121.65M | -25.44M | 31.74M | 221.39M | -215.75M | 0 |
| Net Interest Income | -19.04M | -18.8M | -15.13M | -35.48M | -33.51M | -35.9M | -18.05M | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 3.18M | 8.33M | 16.78M | 11.85M |
| Interest Expense | 19.04M | 18.8M | 15.13M | 35.48M | 36.69M | 44.23M | 34.83M | -27.33M |
| Other Income/Expense | -19.49M | -18.83M | -17.43M | -36.38M | 13.18M | -36.97M | -23.57M | -222K |
| Pretax Income | -80.7M▲ 0% | 64.58M▲ 180.0% | 77.78M▲ 20.4% | -61.12M▼ 178.6% | -4.95M▲ 91.9% | 177.16M▲ 3677.5% | -250.58M▼ 241.4% | -29.22M▲ 88.3% |
| Pretax Margin % | -27.75% | 9.97% | 8.91% | -7.16% | -0.3% | 11.24% | -27.36% | -2.28% |
| Income Tax | -19.93M | 24.83M | 18.7M | -10.72M | -9.38M | 39.92M | -10.18M | 23.02M |
| Effective Tax Rate % | 24.7% | 38.46% | 24.05% | 17.54% | 189.5% | 22.53% | 4.06% | -78.78% |
| Net Income | -60.76M▲ 0% | 39.74M▲ 165.4% | 59.07M▲ 48.6% | -50.4M▼ 185.3% | 4.43M▲ 108.8% | 137.24M▲ 2996.6% | -240.39M▼ 275.2% | -52.23M▲ 78.3% |
| Net Margin % | -20.9% | 6.13% | 6.77% | -5.91% | 0.27% | 8.71% | -26.25% | -4.07% |
| Net Income Growth % | - | 165.41% | 48.63% | -185.32% | 108.79% | 2996.57% | -275.16% | 78.27% |
| Net Income (Continuing) | -60.76M | 39.74M | 59.07M | -50.4M | 4.43M | 137.24M | -240.39M | -52.23M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.48▲ 0% | 0.31▲ 164.6% | 0.47▲ 51.6% | -0.51▼ 208.5% | -0.29▲ 43.1% | 0.56▲ 293.1% | -1.95▼ 448.2% | -0.73▲ 62.6% |
| EPS Growth % | - | 164.58% | 51.61% | -208.51% | 43.14% | 293.1% | -448.21% | 62.56% |
| EPS (Basic) | -0.48 | 0.31 | 0.47 | -0.51 | -0.29 | 0.57 | -1.95 | -0.73 |
| Diluted Shares Outstanding | 126.99M | 126.99M | 126.99M | 129.98M | 149.82M | 152.02M | 151.75M | 152.54M |
| Basic Shares Outstanding | 126.99M | 126.99M | 126.99M | 129.98M | 149.82M | 150.94M | 151.75M | 152.54M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Array Technologies, Inc. (ARRY) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 173.88M | 619.68M | 375.18M | 852.03M | 831.21M | 832.28M | 998.72M | 869.04M |
| Cash & Short-Term Investments | 40.83M | 310.26M | 108.44M | 367.67M | 133.9M | 249.08M | 362.99M | 244.39M |
| Cash Only | 40.83M | 310.26M | 108.44M | 367.67M | 133.9M | 249.08M | 362.99M | 244.39M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 62.13M | 96.88M | 135.85M | 245.06M | 424.71M | 332.15M | 275.84M | 271.58M |
| Days Sales Outstanding | 77.98 | 54.58 | 56.82 | 104.82 | 94.67 | 76.9 | 109.94 | 77.19 |
| Inventory | 55.17M | 148.02M | 118.46M | 205.65M | 233.16M | 161.96M | 200.82M | 150.37M |
| Days Inventory Outstanding | 72.12 | 108.68 | 64.55 | 95.62 | 59.73 | 50.92 | 118.58 | 55.69 |
| Other Current Assets | 0 | 50.99M | 0 | 0 | 39.43M | 89.08M | 159.08M | 202.7M |
| Total Non-Current Assets | 335.99M | 303.9M | 280.85M | 290.95M | 874.84M | 874.46M | 427.27M | 582.75M |
| Property, Plant & Equipment | 11.03M | 10.66M | 9.77M | 10.69M | 23.17M | 53.97M | 26.22M | 155.31M |
| Fixed Asset Turnover | 26.37x | 60.78x | 89.28x | 79.81x | 70.66x | 29.21x | 34.93x | 8.27x |
| Goodwill | 69.73M | 69.73M | 69.73M | 69.73M | 416.18M | 435.59M | 160.19M | 135.17M |
| Intangible Assets | 248.76M | 223.51M | 198.26M | 174.75M | 386.36M | 350.4M | 181.41M | 238.58M |
| Long-Term Investments | -6.47M | 0 | -4.53M | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 6.47M | 0 | 3.09M | 26.43M | 32.66M | 18.63M | 41.7M | 29.72M |
| Total Assets | 509.86M▲ 0% | 923.58M▲ 81.1% | 656.02M▼ 29.0% | 1.14B▲ 74.2% | 1.71B▲ 49.3% | 1.71B▲ 0.0% | 1.43B▼ 16.4% | 1.45B▲ 1.8% |
| Asset Turnover | 0.57x | 0.70x | 1.33x | 0.75x | 0.96x | 0.92x | 0.64x | 0.88x |
| Asset Growth % | - | 81.14% | -28.97% | 74.23% | 49.26% | 0.04% | -16.45% | 1.81% |
| Total Current Liabilities | 134.57M | 590.62M | 289.1M | 245.31M | 465.26M | 335.69M | 437.81M | 377.01M |
| Accounts Payable | 30.02M | 135.51M | 84.99M | 92M | 170.43M | 119.5M | 172.37M | 143.99M |
| Days Payables Outstanding | 39.25 | 99.49 | 46.31 | 42.78 | 43.66 | 37.57 | 101.78 | 53.33 |
| Short-Term Debt | 59.15M | 97.75M | 4.31M | 4.3M | 38.69M | 21.47M | 30.71M | 17.98M |
| Deferred Revenue (Current) | 21.79M | 328.78M | 149.82M | 99.58M | 178.92M | 66.49M | 119.78M | 128.43M |
| Other Current Liabilities | 2.67M | 6.29M | 8.96M | 1.77M | 5.25M | 43.73M | 1.19M | 86.61M |
| Current Ratio | 1.29x | 1.05x | 1.30x | 3.47x | 1.79x | 2.48x | 2.28x | 2.31x |
| Quick Ratio | 0.88x | 0.80x | 0.89x | 2.64x | 1.29x | 2.00x | 1.82x | 1.91x |
| Cash Conversion Cycle | 110.85 | 63.77 | 75.06 | 157.67 | 110.74 | 90.25 | 126.74 | 79.56 |
| Total Non-Current Liabilities | 110.82M | 27.81M | 447.82M | 729.42M | 816.94M | 760.54M | 699.35M | 814.39M |
| Long-Term Debt | 95.88M | 0 | 423.97M | 711.06M | 720.35M | 660.95M | 646.57M | 89.55M |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 13.9M | 19.48M | 0 | 0 |
| Deferred Tax Liabilities | 0 | 15.85M | 13.11M | 0 | 72.61M | 66.86M | 21.4M | 22.13M |
| Other Non-Current Liabilities | 14.94M | 11.96M | 10.74M | 18.36M | 10.08M | 13.26M | 31.38M | 702.71M |
| Total Liabilities | 245.39M | 618.43M | 736.92M | 974.72M | 1.28B | 1.1B | 1.14B | 1.19B |
| Total Debt | 155.03M | 97.75M | 428.28M | 721.26M | 779.45M | 707.64M | 692.58M | 107.53M |
| Net Debt | 114.2M | -212.51M | 319.84M | 353.6M | 645.55M | 458.56M | 329.58M | -136.86M |
| Debt / Equity | 0.59x | 0.32x | - | 4.29x | 1.84x | 1.16x | 2.40x | 0.41x |
| Debt / EBITDA | - | 0.88x | 3.49x | 598.56x | 9.40x | 2.63x | - | - |
| Net Debt / EBITDA | - | -1.92x | 2.61x | 293.44x | 7.78x | 1.70x | - | - |
| Interest Coverage | -3.21x | 4.44x | 6.29x | -0.70x | -0.49x | 4.84x | -6.52x | - |
| Total Equity | 264.47M▲ 0% | 305.15M▲ 15.4% | -80.9M▼ 126.5% | 168.26M▲ 308.0% | 423.85M▲ 151.9% | 610.51M▲ 44.0% | 288.83M▼ 52.7% | 260.39M▼ 9.8% |
| Equity Growth % | - | 15.38% | -126.51% | 307.98% | 151.91% | 44.04% | -52.69% | -9.85% |
| Book Value per Share | 2.08 | 2.40 | -0.64 | 1.29 | 2.83 | 4.02 | 1.90 | 1.71 |
| Total Shareholders' Equity | 264.47M | 305.15M | -80.9M | 168.26M | 423.85M | 610.51M | 288.83M | 260.39M |
| Common Stock | 264.47M | 305.15M | 127K | 135K | 150K | 151K | 151K | 0 |
| Retained Earnings | 0 | 0 | -221.5M | -271.9M | -267.47M | -130.23M | -370.62M | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 8.43M | 44.81M | -45.4M | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Array Technologies, Inc. (ARRY) cash flow — operating, investing & free cash flow history
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|
| Cash from Operations | -11.73M | 386.07M | -122.2M | -263.19M | 141.49M | 231.96M | 153.98M | 0 |
| Operating CF Margin % | -4.03% | 59.59% | -14% | -30.84% | 8.64% | 14.71% | 16.81% | - |
| Operating CF Growth % | - | 3392.17% | -131.65% | -115.37% | 153.76% | 63.93% | -33.62% | -100% |
| Net Income | -60.76M | 39.74M | 59.07M | -50.4M | 4.43M | 137.24M | -240.39M | 0 |
| Depreciation & Amortization | 28.45M | 27.32M | 27.47M | 25.95M | 101.06M | 54.83M | 52.78M | 0 |
| Stock-Based Compensation | 0 | 799K | 5.61M | 13.76M | 14.98M | 14.54M | 10.35M | 0 |
| Deferred Taxes | -20.06M | 22.32M | -2.74M | -10.1M | -31.57M | -8.86M | -37.65M | 0 |
| Other Non-Cash Items | 2.87M | 6.58M | 35.2M | 18.77M | 8.24M | 26.7M | 342.26M | 0 |
| Working Capital Changes | 31.05M | 289.31M | -246.82M | -261.16M | 44.34M | 7.51M | 26.64M | 0 |
| Change in Receivables | 19.4M | -40.71M | -23.04M | -108.74M | -71.37M | 92.81M | 37.31M | 0 |
| Change in Inventory | -10.26M | -94.59M | 28.34M | -88.18M | 20.87M | 66.74M | -44.79M | 0 |
| Change in Payables | 6.5M | 105.48M | -50.52M | 7.01M | 12.67M | -37.65M | 58.18M | 0 |
| Cash from Investing | -6.43M | -1.7M | -1.34M | -15.33M | -384.44M | -16.82M | -9.57M | -187.89M |
| Capital Expenditures | -6.43M | -1.7M | -1.34M | -3.36M | -10.62M | -16.99M | -7.3M | 0 |
| CapEx % of Revenue | 2.21% | 0.26% | 0.15% | 0.39% | 0.65% | 1.08% | 0.8% | - |
| Acquisitions | 0 | 0 | 0 | 0 | -373.82M | 0 | 34K | 0 |
| Investments | - | - | - | - | - | - | - | - |
| Other Investing | -4.36M | 0 | 0 | 0 | 0 | 168K | 0 | -187.89M |
| Cash from Financing | 50.86M | -63.95M | -129.27M | 537.75M | 8.44M | -101.76M | -11.84M | -38.05M |
| Debt Issued (Net) | 4.48M | -64.08M | 356.67M | 280.1M | -18.05M | -99.05M | -8.66M | 0 |
| Equity Issued (Net) | 0 | 0 | 1000K | 1000K | 1000K | -1000K | -1000K | 0 |
| Dividends Paid | 0 | 0 | -589M | -8.05M | -18.67M | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | -1.75M | 0 |
| Other Financing | 46.38M | 133K | -42.48M | -79.93M | -3.83M | -1.2M | -1.43M | -38.05M |
| Net Change in Cash | 32.71M▲ 0% | 320.43M▲ 879.7% | -252.82M▼ 178.9% | 259.23M▲ 202.5% | -233.77M▼ 190.2% | 115.18M▲ 149.3% | 115.06M▼ 0.1% | -118.16M▼ 202.7% |
| Free Cash Flow | -18.16M▲ 0% | 384.38M▲ 2217.0% | -123.54M▼ 132.1% | -266.54M▼ 115.7% | 130.87M▲ 149.1% | 214.97M▲ 64.3% | 146.68M▼ 31.8% | 0▼ 100.0% |
| FCF Margin % | -6.24% | 59.33% | -14.16% | -31.24% | 7.99% | 13.64% | 16.02% | - |
| FCF Growth % | - | 2216.96% | -132.14% | -115.75% | 149.1% | 64.25% | -31.77% | -100% |
| FCF per Share | -0.14 | 3.03 | -0.97 | -2.05 | 0.87 | 1.41 | 0.97 | - |
| FCF Conversion (FCF/Net Income) | 0.19x | 9.71x | -2.07x | 5.22x | 31.93x | 1.69x | -0.64x | - |
| Interest Paid | 14.26M | 11.34M | 6.93M | 24.31M | 23.12M | 43.95M | 38.66M | 0 |
| Taxes Paid | 176K | 443K | 31.1M | 13.32M | 10.74M | 45.94M | 27.97M | 0 |
Array Technologies, Inc. (ARRY) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | -22.98% | 13.95% | 52.68% | -115.39% | 1.5% | 26.54% | -53.46% | -19.02% |
| Return on Invested Capital (ROIC) | -12.12% | 26.55% | 43.07% | -4.88% | -1.71% | 15.02% | -20.18% | -5.86% |
| Gross Margin | 3.97% | 23.27% | 23.24% | 8% | 12.99% | 26.36% | 32.5% | 23.25% |
| Net Margin | -20.9% | 6.13% | 6.77% | -5.91% | 0.27% | 8.71% | -26.25% | -4.07% |
| Debt / Equity | 0.59x | 0.32x | - | 4.29x | 1.84x | 1.16x | 2.40x | 0.41x |
| Interest Coverage | -3.21x | 4.44x | 6.29x | -0.70x | -0.49x | 4.84x | -6.52x | - |
| FCF Conversion | 0.19x | 9.71x | -2.07x | 5.22x | 31.93x | 1.69x | -0.64x | - |
| Revenue Growth | - | 122.81% | 34.69% | -2.22% | 91.9% | -3.72% | -41.91% | 40.22% |
Array Technologies, Inc. (ARRY) SEC filings — annual & quarterly reports (10-K, 10-Q)
Mar 19, 2026·SEC
Feb 25, 2026·SEC
Feb 18, 2026·SEC
Array Technologies, Inc. (ARRY) stock FAQ — growth, dividends, profitability & financials explained
Array Technologies, Inc. (ARRY) reported $1.28B in revenue for fiscal year 2025. This represents a 342% increase from $290.8M in 2018.
Array Technologies, Inc. (ARRY) grew revenue by 40.2% over the past year. This is strong growth.
Array Technologies, Inc. (ARRY) reported a net loss of $52.2M for fiscal year 2025.
Array Technologies, Inc. (ARRY) has a return on equity (ROE) of -19.0%. Negative ROE indicates the company is unprofitable.
Array Technologies, Inc. (ARRY) generated $43.6M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
Array Technologies, Inc. (ARRY) financial analysis — history, returns, DCA and operating performance tools
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates