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ARRAY TECHNOLOGIES INC (ARRY) Stock Fundamental Analysis

NASDAQ:ARRY - Nasdaq - US04271T1007 - Common Stock - Currency: USD

6.59  -0.31 (-4.49%)

After market: 6.57 -0.02 (-0.3%)

Fundamental Rating

4

ARRY gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 93 industry peers in the Electrical Equipment industry. ARRY has only an average score on both its financial health and profitability. ARRY has a bad growth rate and is valued cheaply.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

ARRY had positive earnings in the past year.
ARRY had a positive operating cash flow in the past year.
In multiple years ARRY reported negative net income over the last 5 years.
In multiple years ARRY reported negative operating cash flow during the last 5 years.
ARRY Yearly Net Income VS EBIT VS OCF VS FCFARRY Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2018 2019 2020 2021 2022 2023 0 200M -200M

1.2 Ratios

With a Return On Assets value of -9.52%, ARRY perfoms like the industry average, outperforming 55.43% of the companies in the same industry.
ARRY's Return On Equity of -32.56% is in line compared to the rest of the industry. ARRY outperforms 54.35% of its industry peers.
ARRY has a better Return On Invested Capital (7.01%) than 80.43% of its industry peers.
Industry RankSector Rank
ROA -9.52%
ROE -32.56%
ROIC 7.01%
ROA(3y)-1.11%
ROA(5y)2%
ROE(3y)-11.85%
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ARRY Yearly ROA, ROE, ROICARRY Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2018 2019 2020 2021 2022 2023 0 20 -20 -40 -60

1.3 Margins

In the last couple of years the Profit Margin of ARRY has declined.
Looking at the Operating Margin, with a value of 10.95%, ARRY is in the better half of the industry, outperforming 78.26% of the companies in the same industry.
In the last couple of years the Operating Margin of ARRY has grown nicely.
The Gross Margin of ARRY (30.91%) is better than 73.91% of its industry peers.
In the last couple of years the Gross Margin of ARRY has grown nicely.
Industry RankSector Rank
OM 10.95%
PM (TTM) N/A
GM 30.91%
OM growth 3Y7.58%
OM growth 5YN/A
PM growth 3Y-7.12%
PM growth 5YN/A
GM growth 3Y4.29%
GM growth 5Y45.89%
ARRY Yearly Profit, Operating, Gross MarginsARRY Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2018 2019 2020 2021 2022 2023 0 10 -10 20 -20

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4

2. Health

2.1 Basic Checks

ARRY has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for ARRY has been increased compared to 1 year ago.
The number of shares outstanding for ARRY has been increased compared to 5 years ago.
The debt/assets ratio for ARRY has been reduced compared to a year ago.
ARRY Yearly Shares OutstandingARRY Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 50M 100M 150M
ARRY Yearly Total Debt VS Total AssetsARRY Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2018 2019 2020 2021 2022 2023 500M 1B 1.5B

2.2 Solvency

ARRY has an Altman-Z score of 1.59. This is a bad value and indicates that ARRY is not financially healthy and even has some risk of bankruptcy.
ARRY's Altman-Z score of 1.59 is in line compared to the rest of the industry. ARRY outperforms 58.70% of its industry peers.
The Debt to FCF ratio of ARRY is 3.77, which is a good value as it means it would take ARRY, 3.77 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 3.77, ARRY is in the better half of the industry, outperforming 73.91% of the companies in the same industry.
A Debt/Equity ratio of 1.42 is on the high side and indicates that ARRY has dependencies on debt financing.
ARRY's Debt to Equity ratio of 1.42 is on the low side compared to the rest of the industry. ARRY is outperformed by 75.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.42
Debt/FCF 3.77
Altman-Z 1.59
ROIC/WACC0.97
WACC7.24%
ARRY Yearly LT Debt VS Equity VS FCFARRY Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2018 2019 2020 2021 2022 2023 0 200M -200M 400M 600M

2.3 Liquidity

ARRY has a Current Ratio of 2.41. This indicates that ARRY is financially healthy and has no problem in meeting its short term obligations.
The Current ratio of ARRY (2.41) is better than 68.48% of its industry peers.
A Quick Ratio of 1.88 indicates that ARRY should not have too much problems paying its short term obligations.
Looking at the Quick ratio, with a value of 1.88, ARRY is in the better half of the industry, outperforming 73.91% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 2.41
Quick Ratio 1.88
ARRY Yearly Current Assets VS Current LiabilitesARRY Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M

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3

3. Growth

3.1 Past

ARRY shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -37.56%.
ARRY shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 5.44% yearly.
ARRY shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -40.00%.
Measured over the past years, ARRY shows a very strong growth in Revenue. The Revenue has been growing by 40.22% on average per year.
EPS 1Y (TTM)-37.56%
EPS 3Y5.44%
EPS 5YN/A
EPS Q2Q%-17.07%
Revenue 1Y (TTM)-40%
Revenue growth 3Y21.79%
Revenue growth 5Y40.22%
Sales Q2Q%-33.97%

3.2 Future

Based on estimates for the next years, ARRY will show a decrease in Earnings Per Share. The EPS will decrease by -1.22% on average per year.
Based on estimates for the next years, ARRY will show a decrease in Revenue. The Revenue will decrease by -1.15% on average per year.
EPS Next Y-45.45%
EPS Next 2Y-15.71%
EPS Next 3Y-5.7%
EPS Next 5Y-1.22%
Revenue Next Year-41.27%
Revenue Next 2Y-14.75%
Revenue Next 3Y-6.29%
Revenue Next 5Y-1.15%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
ARRY Yearly Revenue VS EstimatesARRY Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 500M 1B 1.5B
ARRY Yearly EPS VS EstimatesARRY Yearly EPS VS EstimatesYearly EPS VS Estimates 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 0.5 1 1.5

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7

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 10.30, the valuation of ARRY can be described as reasonable.
Based on the Price/Earnings ratio, ARRY is valued cheaply inside the industry as 95.65% of the companies are valued more expensively.
ARRY's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 29.63.
Based on the Price/Forward Earnings ratio of 8.17, the valuation of ARRY can be described as reasonable.
Compared to the rest of the industry, the Price/Forward Earnings ratio of ARRY indicates a rather cheap valuation: ARRY is cheaper than 95.65% of the companies listed in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.68, ARRY is valued rather cheaply.
Industry RankSector Rank
PE 10.3
Fwd PE 8.17
ARRY Price Earnings VS Forward Price EarningsARRY Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

ARRY's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. ARRY is cheaper than 93.48% of the companies in the same industry.
ARRY's Price/Free Cash Flow ratio is rather cheap when compared to the industry. ARRY is cheaper than 97.83% of the companies in the same industry.
Industry RankSector Rank
P/FCF 5.58
EV/EBITDA 8.35
ARRY Per share dataARRY EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6

4.3 Compensation for Growth

A cheap valuation may be justified as ARRY's earnings are expected to decrease with -5.70% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-15.71%
EPS Next 3Y-5.7%

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0

5. Dividend

5.1 Amount

No dividends for ARRY!.
Industry RankSector Rank
Dividend Yield N/A

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ARRAY TECHNOLOGIES INC

NASDAQ:ARRY (2/21/2025, 8:01:46 PM)

After market: 6.57 -0.02 (-0.3%)

6.59

-0.31 (-4.49%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryElectrical Equipment
Earnings (Last)11-07 2024-11-07/amc
Earnings (Next)02-27 2025-02-27/amc
Inst Owners124.24%
Inst Owner Change-95.79%
Ins Owners0.27%
Ins Owner Change0.84%
Market Cap1.00B
Analysts75.48
Price Target10.5 (59.33%)
Short Float %14.98%
Short Ratio4.18
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly Dividend0
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)48.89%
Min EPS beat(2)21.06%
Max EPS beat(2)76.73%
EPS beat(4)4
Avg EPS beat(4)115.49%
Min EPS beat(4)21.06%
Max EPS beat(4)281%
EPS beat(8)8
Avg EPS beat(8)165.25%
EPS beat(12)11
Avg EPS beat(12)131.25%
EPS beat(16)13
Avg EPS beat(16)141.33%
Revenue beat(2)1
Avg Revenue beat(2)2.9%
Min Revenue beat(2)-2.47%
Max Revenue beat(2)8.26%
Revenue beat(4)3
Avg Revenue beat(4)4.88%
Min Revenue beat(4)-2.47%
Max Revenue beat(4)8.26%
Revenue beat(8)6
Avg Revenue beat(8)5.53%
Revenue beat(12)10
Avg Revenue beat(12)8.52%
Revenue beat(16)11
Avg Revenue beat(16)5.25%
PT rev (1m)0.2%
PT rev (3m)-1.79%
EPS NQ rev (1m)1.67%
EPS NQ rev (3m)4.56%
EPS NY rev (1m)-0.67%
EPS NY rev (3m)-9.32%
Revenue NQ rev (1m)-3.11%
Revenue NQ rev (3m)-2.85%
Revenue NY rev (1m)0.13%
Revenue NY rev (3m)-3.68%
Valuation
Industry RankSector Rank
PE 10.3
Fwd PE 8.17
P/S 1.02
P/FCF 5.58
P/OCF 5.26
P/B 2.19
P/tB N/A
EV/EBITDA 8.35
EPS(TTM)0.64
EY9.71%
EPS(NY)0.81
Fwd EY12.24%
FCF(TTM)1.18
FCFY17.91%
OCF(TTM)1.25
OCFY19.01%
SpS6.46
BVpS3.01
TBVpS-0.63
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -9.52%
ROE -32.56%
ROCE 9.05%
ROIC 7.01%
ROICexc 9.74%
ROICexgc 27.47%
OM 10.95%
PM (TTM) N/A
GM 30.91%
FCFM 18.26%
ROA(3y)-1.11%
ROA(5y)2%
ROE(3y)-11.85%
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3Y-19.68%
ROICexc growth 5YN/A
OM growth 3Y7.58%
OM growth 5YN/A
PM growth 3Y-7.12%
PM growth 5YN/A
GM growth 3Y4.29%
GM growth 5Y45.89%
F-Score4
Asset Turnover0.63
Health
Industry RankSector Rank
Debt/Equity 1.42
Debt/FCF 3.77
Debt/EBITDA 4.02
Cap/Depr 20.53%
Cap/Sales 1.12%
Interest Coverage 2.87
Cash Conversion 118.14%
Profit Quality N/A
Current Ratio 2.41
Quick Ratio 1.88
Altman-Z 1.59
F-Score4
WACC7.24%
ROIC/WACC0.97
Cap/Depr(3y)18.2%
Cap/Depr(5y)13.11%
Cap/Sales(3y)0.71%
Cap/Sales(5y)0.51%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-37.56%
EPS 3Y5.44%
EPS 5YN/A
EPS Q2Q%-17.07%
EPS Next Y-45.45%
EPS Next 2Y-15.71%
EPS Next 3Y-5.7%
EPS Next 5Y-1.22%
Revenue 1Y (TTM)-40%
Revenue growth 3Y21.79%
Revenue growth 5Y40.22%
Sales Q2Q%-33.97%
Revenue Next Year-41.27%
Revenue Next 2Y-14.75%
Revenue Next 3Y-6.29%
Revenue Next 5Y-1.15%
EBIT growth 1Y-43.77%
EBIT growth 3Y31.02%
EBIT growth 5YN/A
EBIT Next Year-16.67%
EBIT Next 3Y6.39%
EBIT Next 5Y6.15%
FCF growth 1Y393.07%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y456.46%
OCF growth 3YN/A
OCF growth 5YN/A