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ARRY
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ARRYArray Technologies, Inc.
$5.86$901M
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
ARRY logo

Array Technologies, Inc.

ARRY
NASDAQ · Solar
$5.86
At close - Nov 6, 4:00 PM EST - USD
Market Cap$901M
P/E-8.1x
52W High$12.23
Volume13.84M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Margin Recovery Masks Negative Equity Leverage Risk

Array Technologies is emerging from a 2025Q4 trough, with gross margin rebounding to 29.1% in 2026Q2 from 8.6% and operating margin swinging to +10.2%, driven by steel cost pass-through and operating leverage.

GrowthMixed
ProfitabilityStrained
ValuationAttractive
TechnicalsWeak
Explore valuation models
MARKET ACTION

ARRY price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

9/12 Beats

EPS beat 9 of last 12 quarters

02

Valuation risk

-127% Peers

P/E is 127% below peer median

03

Market leadership

RS 59 · Avg

Average momentum (RS Rating: 59)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Feb 4

Market performance

Price History →

Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
ARRY-39.51%
S&P 500 (^GSPC)+7.63%
1-Year Return
ARRY-30.05%
S&P 500 (^GSPC)+9.69%
3-Year Return
ARRY-67.47%
S&P 500 (^GSPC)+78.49%
5-Year Return
ARRY-73.23%
S&P 500 (^GSPC)+67.96%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y Low
-8.1x
Forward P/E
7.9x
EV/EBITDA67th %ile
28.4x
FCF YieldCash Flow
12.4%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
-8.1x
30.0x
0th· Low
EV/EBITDA
28.4x
15.9x
67th· Fair
Price/FCF
8.1x
17.6x
25th· Low
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$0.00N/A
Base (Fair)$5.64-19.1%
Bull$2.76-52.9%
$0.00 Bear$5.64 Base$2.76 Bull
Current Market Price: $5.86
Trades at a 3.9% premium to Base DCF ($5.64)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue FY25
$1.28B+40.2% YoY
Net income FY25
-$52M+78.3% YoY
Free cash flow FY25
$80M-45.6% YoY
Operating margin FY25
5.7%+30.5 pts YoY
ROIC (FY25)7.9%
Avg ROIC 5Y-0.7%
ROE (TTM)-39.5%
Piotroski Score5 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate9/12 (75%)
Revenue Beat Rate11/12 (92%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q4 2026Latest
Nov 4, 2026
$0.06-39.2%
vs $0.10
$330M+2.1%
vs $323M
Q3 2026
Aug 5, 2026
$0.24+97.2%
vs $0.12
$342M+9.3%
vs $313M
Q2 2026
May 6, 2026
$0.06+200.0%
vs -$0.06
$223M+10.8%
vs $202M
Q1 2026
Feb 25, 2026
-$0.01-27.2%
vs -$0.01
$226M+6.9%
vs $211M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

4 Stories
MarketBeat·1d ago
What Array Digital Infrastructure (AD) Said on Its Q3 Earnings Call

Array Digital Infrastructure NYSE: AD reported third-quarter revenue growth driven primarily by its T-Mobile agreement and maintained its full-year outlook, while its parent, TDS, lowered revenue and profit guidance for its fiber business despite record construction and customer additions.

Zacks Investment Research·1d ago
Array Digital Infrastructure (AD) Q3 Earnings and Revenues Beat Estimates

Array Digital Infrastructure (AD) came out with quarterly earnings of $0.72 per share, beating the Zacks Consensus Estimate of $0.38 per share. This compares to earnings of $0.97 per share a year ago.

PRNewsWire·1d ago
Array reports third quarter 2026 results

Affirms guidance for 2026 CHICAGO, Nov. 6, 2026 /PRNewswire/ -- As previously announced, Array will hold a teleconference on November 6, 2026, at 9:00 a.m. CT. Listen to the call live via the Events & Presentations page of investors.arrayinc.com.

Seeking Alpha·1d ago
Array Technologies, Inc. (ARRY) M&A Call Transcript

Array Technologies, Inc. ( ARRY ) M&A Call November 4, 2026 8:00 AM EST Company Participants Matthew Tractenberg - Vice President of Finance & Investor Relations J. Forth Brandon Moss - CEO & Director Kevin Hostetler - CEO & Director Conference Call Participants Brian Lee - Goldman Sachs Group, Inc., Research Division Julien Dumoulin-Smith - Jefferies LLC Philip Shen - ROTH Capital Partners, LLC, Research Division Jonathan Windham - UBS Investment Bank, Research Division Joseph Osha - Guggenheim Securities, LLC, Research Division Colin Rusch - Oppenheimer & Co. Inc., Research Division Dylan Nassano - Wolfe Research, LLC Dimple Gosai - Piper Sandler & Co., Research Division Presentation Operator Good morning, and welcome to today's call to discuss the merger between ARRAY Technologies and Shoals Technologies Group.

Filtered for Array Technologies, Inc.More Headlines
04

Compare before deciding

Benchmark ARRY against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Array Technologies, Inc. (ARRY)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
ARRY logoARRYArray Technologies, Inc.Current
$5.86$901.42M-8.1240.22%-9.91%-39.51%—
SHLS logoSHLSShoals Technologies Group, Inc.
$10.08$1.69B45.3219.07%5.84%6.16%—
FTCI logoFTCIFTC Solar, Inc.
$1.56$24.97M-1.70110.51%-19.76%——
FSLR logoFSLRFirst Solar, Inc.
$201.14$21.61B11.6424.09%37.12%18.33%—
ENPH logoENPHEnphase Energy, Inc.
$28.47$3.76B42.4010.72%7.49%7.87%—
SEDG logoSEDGSolarEdge Technologies, Inc.
$27.51$1.67B-7.4231.39%-17.34%-54.65%—

Compare ARRY vs Peers

Array Technologies, Inc. (ARRY) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs SHLS

Most directly comparable listed peer for ARRY.

Scale Benchmark

vs NEE

Larger-name benchmark to compare ARRY against a more recognizable public peer.

Peer Set

Compare Top 5

vs SHLS, FTCI, FSLR, ENPH

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

ARRY SEC Filings & Documents

Array Technologies, Inc. (ARRY) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 5, 2026·SEC

Material company update

Jul 16, 2026·SEC

Material company update

May 20, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 25, 2026·SEC

FY 2025

Mar 3, 2025·SEC

FY 2024

Feb 28, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 5, 2026·SEC

FY 2026

May 6, 2026·SEC

FY 2025

Nov 5, 2025·SEC

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ARRY Frequently Asked Questions

Array Technologies, Inc. (ARRY) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Array Technologies, Inc.'s revenue?

Array Technologies, Inc. (ARRY) reported $1.12B in revenue over the trailing twelve months. Revenue was $1.28B in fiscal year 2025. That is 342% more than the $290.8M of fiscal year 2018.

How fast is Array Technologies, Inc. growing?

Array Technologies, Inc. (ARRY) revenue fell by 15.9% over the trailing twelve months, compared with the twelve months before.

Is ARRY profitable?

No. Array Technologies, Inc. (ARRY) reported a net loss of $111.2M over the trailing twelve months.

Dividend & Returns
What is ARRY's return on equity?

Array Technologies, Inc. (ARRY) had a return on equity (ROE) of -39.5% over the trailing twelve months. A negative ROE means the company lost money over the period.

What is Array Technologies, Inc.'s free cash flow?

Array Technologies, Inc. (ARRY) generated $111.8M in free cash flow over the trailing twelve months.

What if you invested $1,000 in ARRY back in 2018?

Total return calculator · dividends reinvested · 8+ years of data

See returns →