Array Technologies (ARRY) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Array Technologies

NasdaqGM•Technology•Solar

$4.55+0.07(0.02%)Market open

Market Cap

$624.70M

P/S

0.5x

Array Technologies, Inc. engages in the manufacture and sale of solar tracking technology products in the United States, Spain, Brazil, Australia, and internationally. It operates through two segments, Array Legacy Operations and STI Operations. The company's products portfolio includes DuraTrack HZ V3, a single axis tracker; Array STI H250, a dual-row tracker system; Array OmniTrack; Array SkyLink, a photovoltaic-powered control tracker system; and SmarTrack, a software and control-based product. Array Technologies, Inc. was incorporated in 1987 and is headquartered in Albuquerque, New Mexico.

How this company scores

WeakMetricSide Score: 57/100

Grade capped at D — Negative equity — the balance sheet is insolvent. Strongest: Profitability (17/25); weakest: Balance Sheet & Red Flags (11/25).

Profitability17/25

Growth16/25

Balance Sheet & Red Flags11/25

Cash & Earnings Quality13/25

Strengths

Long cash runwayProfit converts from growthConsistent growthImproving margins

Grade capped at D

Negative equity — the balance sheet is insolvent.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 21.0x5y range 18.5x – 656.2x

Currently below its 8-quarter median.

P/S · 0.5x5y range 0.5x – 2.5x

Currently below its 20-quarter median.

P/B · 15.5x5y range 7.8x – 317.3x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

FCF consistently trails net income (avg -1.8x) — earnings may be inflated by non-cash items or aggressive accounting.

Price & Volume

Market Cap $624.70M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $1.19B
Q. Revenue: $342.06M
TTM EBITDA: $-29.43M
TTM Op. Income: $-60.78M
Q. Op. Income: $34.77M
TTM Net Income: $-85.90M
Q. Net Income: $24.35M
EPS: $0.05
Shares Out.: $153.87M

$1.19B in TTM revenue grew 1.2% YoY, reaching $342.06M last quarter. TTM EBITDA of $-29.43M and TTM operating income of $-60.78M show growth is flowing through to the bottom line. However, net income is negative at $85.90M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has fallen for 3 consecutive quarters — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 29.1%
EBITDA Margin: 12.5%
Op. Margin: 10.2%
Net Margin: 7.1%

Op. margin of 10.2% is down 2.6% YoY — costs are rising relative to revenue. Net margin at 7.1% and gross margin of 29.1% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 0.5x
P/B Ratio: N/A

P/S of 0.5x and P/B of 0.0x. P/S is low relative to typical market levels.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $1.53B
Cash: $307.30M
Long-Term Debt: $657.75M
Book Value: $-202.08M
D/E Ratio: N/A
Debt/EBITDA: 15.4

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $121.28M
TTM Free Cash Flow: $134.73M
FCF Margin: 11.4%
FCF / Net Income: -1.6

TTM FCF of $134.73M on $121.28M in operating cash flow. The FCF / Net Income ratio of -1.6x means the business consumes cash — it is not yet self-funding. Over the past year, free cash flow is up 11% — an improving trend.