ARRAY TECHNOLOGIES INC (ARRY) Fundamental Analysis & Valuation

NASDAQ:ARRY • US04271T1007

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This ARRY fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

4

1. ARRY Profitability Analysis

1.1 Basic Checks

  • ARRY had positive earnings in the past year.
  • In the past year ARRY had a positive cash flow from operations.
  • ARRY had negative earnings in 4 of the past 5 years.
  • ARRY had a positive operating cash flow in 4 of the past 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 2024 2025 0 200M -200M

1.2 Ratios

  • The Return On Assets of ARRY (-7.72%) is comparable to the rest of the industry.
  • With a Return On Equity value of -43.03%, ARRY perfoms like the industry average, outperforming 46.74% of the companies in the same industry.
  • ARRY has a better Return On Invested Capital (7.58%) than 81.52% of its industry peers.
Industry RankSector Rank
ROA -7.72%
ROE -43.03%
ROIC 7.58%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
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 2024 2025 0 20 -20 -40 -60 -80 -100

1.3 Margins

  • Looking at the Operating Margin, with a value of 8.03%, ARRY is in the better half of the industry, outperforming 76.09% of the companies in the same industry.
  • ARRY's Operating Margin has declined in the last couple of years.
  • ARRY has a Gross Margin of 25.55%. This is comparable to the rest of the industry: ARRY outperforms 53.26% of its industry peers.
  • In the last couple of years the Gross Margin of ARRY has grown nicely.
Industry RankSector Rank
OM 8.03%
PM (TTM) N/A
GM 25.55%
OM growth 3YN/A
OM growth 5Y-5.95%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y22.55%
GM growth 5Y1.91%
ARRY Yearly Profit, Operating, Gross MarginsARRY Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2018 2019 2020 2021 2022 2023 2024 2025 0 20 -20

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4

2. ARRY Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so ARRY is destroying value.
  • ARRY has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
ARRY Yearly Shares OutstandingARRY Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 2024 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 2024 500M 1B 1.5B

2.2 Solvency

  • Based on the Altman-Z score of 1.74, we must say that ARRY is in the distress zone and has some risk of bankruptcy.
  • The Altman-Z score of ARRY (1.74) is comparable to the rest of the industry.
  • ARRY has a debt to FCF ratio of 8.91. This is a slightly negative value and a sign of low solvency as ARRY would need 8.91 years to pay back of all of its debts.
  • The Debt to FCF ratio of ARRY (8.91) is better than 68.48% of its industry peers.
  • A Debt/Equity ratio of 2.69 is on the high side and indicates that ARRY has dependencies on debt financing.
  • With a Debt to Equity ratio value of 2.69, ARRY is not doing good in the industry: 72.83% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 2.69
Debt/FCF 8.91
Altman-Z 1.74
ROIC/WACC0.97
WACC7.83%
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 2024 2025 0 200M -200M 400M 600M

2.3 Liquidity

  • A Current Ratio of 2.31 indicates that ARRY has no problem at all paying its short term obligations.
  • ARRY's Current ratio of 2.31 is fine compared to the rest of the industry. ARRY outperforms 64.13% of its industry peers.
  • ARRY has a Quick Ratio of 1.91. This is a normal value and indicates that ARRY is financially healthy and should not expect problems in meeting its short term obligations.
  • With a decent Quick ratio value of 1.91, ARRY is doing good in the industry, outperforming 76.09% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 2.31
Quick Ratio 1.91
ARRY Yearly Current Assets VS Current LiabilitesARRY Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M

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5

3. ARRY Growth Analysis

3.1 Past

  • ARRY shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 13.56%, which is quite good.
  • ARRY shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 24.17% yearly.
  • The Revenue has grown by 40.22% in the past year. This is a very strong growth!
  • The Revenue has been growing by 8.03% on average over the past years. This is quite good.
EPS 1Y (TTM)13.56%
EPS 3Y24.17%
EPS 5YN/A
EPS Q2Q%-106.25%
Revenue 1Y (TTM)40.22%
Revenue growth 3Y-7.78%
Revenue growth 5Y8.03%
Sales Q2Q%-17.87%

3.2 Future

  • Based on estimates for the next years, ARRY will show a small growth in Earnings Per Share. The EPS will grow by 4.77% on average per year.
  • ARRY is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.88% yearly.
EPS Next Y6.23%
EPS Next 2Y15.5%
EPS Next 3Y14.09%
EPS Next 5Y4.77%
Revenue Next Year14.48%
Revenue Next 2Y11.23%
Revenue Next 3Y9.22%
Revenue Next 5Y5.88%

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.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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 2032 500M 1B 1.5B
ARRY Yearly EPS VS EstimatesARRY Yearly EPS VS EstimatesYearly EPS VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 0.2 0.4 0.6 0.8 1

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6

4. ARRY Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 12.10, which indicates a correct valuation of ARRY.
  • 96.74% of the companies in the same industry are more expensive than ARRY, based on the Price/Earnings ratio.
  • When comparing the Price/Earnings ratio of ARRY to the average of the S&P500 Index (27.42), we can say ARRY is valued rather cheaply.
  • The Price/Forward Earnings ratio is 11.39, which indicates a very decent valuation of ARRY.
  • 94.57% of the companies in the same industry are more expensive than ARRY, based on the Price/Forward Earnings ratio.
  • The average S&P500 Price/Forward Earnings ratio is at 22.24. ARRY is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 12.1
Fwd PE 11.39
ARRY Price Earnings VS Forward Price EarningsARRY Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, ARRY is valued cheaply inside the industry as 93.48% of the companies are valued more expensively.
  • ARRY's Price/Free Cash Flow ratio is rather cheap when compared to the industry. ARRY is cheaper than 94.57% of the companies in the same industry.
Industry RankSector Rank
P/FCF 15.55
EV/EBITDA 11.36
ARRY Per share dataARRY EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6 8

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates ARRY does not grow enough to justify the current Price/Earnings ratio.
  • ARRY's earnings are expected to grow with 14.09% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.94
PEG (5Y)N/A
EPS Next 2Y15.5%
EPS Next 3Y14.09%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. ARRY Dividend Analysis

5.1 Amount

  • No dividends for ARRY!.
Industry RankSector Rank
Dividend Yield 0%

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ARRY Fundamentals: All Metrics, Ratios and Statistics

ARRAY TECHNOLOGIES INC

NASDAQ:ARRY (4/24/2026, 8:21:44 PM)

After market: 8.11 0 (0%)

8.11

0 (0%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryElectrical Equipment
Earnings (Last)02-25
Earnings (Next)05-06
Inst Owners134.8%
Inst Owner Change-0.02%
Ins Owners0.61%
Ins Owner Change11.82%
Market Cap1.24B
Revenue(TTM)1.28B
Net Income(TTM)-112.03M
Analysts75.63
Price Target10.12 (24.78%)
Short Float %16.18%
Short Ratio4.14
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly Dividend0
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)16.99%
Min EPS beat(2)-11.66%
Max EPS beat(2)45.64%
EPS beat(4)3
Avg EPS beat(4)25.36%
Min EPS beat(4)-11.66%
Max EPS beat(4)45.64%
EPS beat(8)6
Avg EPS beat(8)58.87%
EPS beat(12)10
Avg EPS beat(12)116.21%
EPS beat(16)14
Avg EPS beat(16)110.2%
Revenue beat(2)2
Avg Revenue beat(2)14.27%
Min Revenue beat(2)4.52%
Max Revenue beat(2)24.01%
Revenue beat(4)4
Avg Revenue beat(4)15.73%
Min Revenue beat(4)4.52%
Max Revenue beat(4)24.01%
Revenue beat(8)7
Avg Revenue beat(8)9.57%
Revenue beat(12)10
Avg Revenue beat(12)8.35%
Revenue beat(16)14
Avg Revenue beat(16)10.3%
PT rev (1m)-10.65%
PT rev (3m)-9.68%
EPS NQ rev (1m)-8.08%
EPS NQ rev (3m)-128.93%
EPS NY rev (1m)-1.86%
EPS NY rev (3m)-19.03%
Revenue NQ rev (1m)0.06%
Revenue NQ rev (3m)-39.82%
Revenue NY rev (1m)0.07%
Revenue NY rev (3m)0.81%
Valuation
Industry RankSector Rank
PE 12.1
Fwd PE 11.39
P/S 0.97
P/FCF 15.55
P/OCF 12.19
P/B 4.77
P/tB N/A
EV/EBITDA 11.36
EPS(TTM)0.67
EY8.26%
EPS(NY)0.71
Fwd EY8.78%
FCF(TTM)0.52
FCFY6.43%
OCF(TTM)0.67
OCFY8.2%
SpS8.39
BVpS1.7
TBVpS-0.74
PEG (NY)1.94
PEG (5Y)N/A
Graham Number5.0645 (-37.55%)
Profitability
Industry RankSector Rank
ROA -7.72%
ROE -43.03%
ROCE 9.59%
ROIC 7.58%
ROICexc 9.81%
ROICexgc 17.83%
OM 8.03%
PM (TTM) N/A
GM 25.55%
FCFM 6.22%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
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
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5Y-5.95%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y22.55%
GM growth 5Y1.91%
F-Score5
Asset Turnover0.88
Health
Industry RankSector Rank
Debt/Equity 2.69
Debt/FCF 8.91
Debt/EBITDA 4.66
Cap/Depr 46.46%
Cap/Sales 1.71%
Interest Coverage 6.42
Cash Conversion 67.69%
Profit Quality N/A
Current Ratio 2.31
Quick Ratio 1.91
Altman-Z 1.74
F-Score5
WACC7.83%
ROIC/WACC0.97
Cap/Depr(3y)37.55%
Cap/Depr(5y)27.25%
Cap/Sales(3y)1.61%
Cap/Sales(5y)1.17%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)13.56%
EPS 3Y24.17%
EPS 5YN/A
EPS Q2Q%-106.25%
EPS Next Y6.23%
EPS Next 2Y15.5%
EPS Next 3Y14.09%
EPS Next 5Y4.77%
Revenue 1Y (TTM)40.22%
Revenue growth 3Y-7.78%
Revenue growth 5Y8.03%
Sales Q2Q%-17.87%
Revenue Next Year14.48%
Revenue Next 2Y11.23%
Revenue Next 3Y9.22%
Revenue Next 5Y5.88%
EBIT growth 1Y2.16%
EBIT growth 3YN/A
EBIT growth 5Y1.6%
EBIT Next Year78.86%
EBIT Next 3Y31.87%
EBIT Next 5Y16.16%
FCF growth 1Y-41.05%
FCF growth 3Y-15.2%
FCF growth 5YN/A
OCF growth 1Y-33.9%
OCF growth 3Y-10.4%
OCF growth 5YN/A

ARRAY TECHNOLOGIES INC / ARRY Fundamental Analysis FAQ

What is the ChartMill fundamental rating of ARRAY TECHNOLOGIES INC (ARRY) stock?

ChartMill assigns a fundamental rating of 4 / 10 to ARRY.


What is the valuation status of ARRAY TECHNOLOGIES INC (ARRY) stock?

ChartMill assigns a valuation rating of 6 / 10 to ARRAY TECHNOLOGIES INC (ARRY). This can be considered as Fairly Valued.


What is the profitability of ARRY stock?

ARRAY TECHNOLOGIES INC (ARRY) has a profitability rating of 4 / 10.


What is the financial health of ARRAY TECHNOLOGIES INC (ARRY) stock?

The financial health rating of ARRAY TECHNOLOGIES INC (ARRY) is 4 / 10.


How sustainable is the dividend of ARRAY TECHNOLOGIES INC (ARRY) stock?

The dividend rating of ARRAY TECHNOLOGIES INC (ARRY) is 0 / 10 and the dividend payout ratio is 0%.