Array Technologies (ARRY) AI Stock Analysis

• Market Cap: $1.14B
• Dividend Yield: N/A
• Average Volume (3M): 7.16M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.31
• Revenue Growth: 35.75%
• EPS Growth: 37.97%
• Country: US
• Employees: 1,021
• Sector: Technology
• Sector Strength: 88
• Industry: Solar
• EPS (TTM): 0.30
• Shares Outstanding: 152,747,770
• 10 Day Avg. Volume: 7,875,271
• 30 Day Avg. Volume: 7,162,090
• PEG Ratio: <0.01
• Price to Book (P/B): 3.17
• Price to Sales (P/S): 1.00
• P/FCF Ratio: 6.25
• Enterprise Value/Market Cap: 1.89
• Enterprise Value/Revenue: 1.62
• Enterprise Value/Gross Profit: 6.18
• Enterprise Value/Ebitda: 44.28
• 1Y Price Target: $10.92
• Price Target Upside: 45.79% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 18
• EPS Forecast (FY): 0.67
• Revenue Forecast (FY): $1.26B

• Rating: 54 Neutral
• Price Target: $7.50 ▲(0.13% Upside)

Array Technologies' overall score is driven by strong earnings call performance, highlighting significant revenue growth and strategic acquisitions. However, financial performance and technical indicators reflect ongoing challenges, including profitability issues and bearish momentum.

Positive Factors

Revenue Growth

Strong revenue growth indicates robust demand for Array's products and successful market penetration, supporting long-term business expansion.

Product Innovation

Compatibility with advanced systems positions Array as a leader in solar innovation, enhancing its competitive edge and future-proofing its offerings.

Order Book Growth

A strong order book with new product adoption ensures future revenue streams and reflects customer confidence in Array's solutions.

Negative Factors

High Leverage

High leverage can limit financial flexibility and increase risk, potentially impacting long-term financial stability and growth opportunities.

Profitability Challenges

Ongoing profitability issues may hinder reinvestment in growth initiatives and affect investor confidence over the long term.

Commodity Price Impact

Increased commodity costs can compress margins, affecting profitability and potentially leading to higher prices for customers.

Array Technologies Business Overview & Revenue Model

Company Description

Array Technologies, Inc. (NASDAQ: ARRY) is a leading global provider of utility-scale solar tracking solutions that optimize the performance of solar energy systems. Founded in 1989 and headquartered in Albuquerque, New Mexico, the company focuses on the design, manufacturing, and installation of solar trackers that enhance the efficiency and energy output of solar panels. Array Technologies serves various sectors, including renewable energy developers, utilities, and independent power producers, contributing to the global transition towards sustainable energy solutions.

How the Company Makes Money

Array Technologies generates revenue primarily through the sale of its solar tracking systems, which include both hardware and software components. The company earns money from the direct sale of its products to solar project developers and operators, as well as through installation services. Additionally, recurring revenue streams may come from long-term service agreements and performance guarantees associated with its products. Significant partnerships with major solar developers and utilities bolster its market presence and contribute to its earnings, allowing Array Technologies to capture a larger share of the growing solar energy market.

Array Technologies Financial Statement Overview

Summary

Array Technologies shows mixed financial performance. Revenue growth is positive, but profitability and leverage are concerning. The company needs to improve operational efficiency and manage its capital structure better.

Income Statement

Array Technologies shows a mixed performance in its income statement. The company has experienced a positive revenue growth rate of 13.84% in the TTM, indicating a recovery from previous declines. However, profitability remains a concern with negative net profit and EBIT margins, reflecting ongoing operational challenges. The gross profit margin is relatively stable, but the negative net profit margin highlights the need for cost management and efficiency improvements.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio of 1.90 in the TTM, indicating significant leverage and potential financial risk. The return on equity is negative, reflecting the company's struggle to generate profits from shareholders' equity. The equity ratio is not explicitly calculated, but the high debt levels suggest a need for improved capital structure management to enhance financial stability.

Cash Flow

Cash flow analysis shows a decline in free cash flow growth by 19.96% in the TTM, which is concerning. However, the company maintains a positive operating cash flow to net income ratio, suggesting some ability to generate cash from operations despite net losses. The free cash flow to net income ratio is strong, indicating efficient cash generation relative to net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.33B	915.81M	1.58B	1.64B	853.32M	872.66M
Gross Profit	350.58M	297.68M	415.55M	212.72M	68.30M	202.80M
EBITDA	48.89M	-162.97M	276.21M	132.80M	509.00K	149.13M
Net Income	-33.39M	-240.39M	137.24M	4.43M	-50.40M	59.07M
Balance Sheet
Total Assets	1.61B	1.43B	1.71B	1.71B	1.14B	656.02M
Cash, Cash Equivalents and Short-Term Investments	221.52M	362.99M	249.08M	133.90M	367.67M	108.44M
Total Debt	680.97M	692.58M	707.64M	779.45M	721.26M	428.28M
Total Liabilities	1.21B	1.14B	1.10B	1.28B	974.72M	736.92M
Stockholders Equity	404.59M	288.83M	610.51M	423.85M	168.26M	-80.90M
Cash Flow
Free Cash Flow	88.26M	146.68M	214.97M	130.87M	-266.54M	-123.54M
Operating Cash Flow	115.73M	153.98M	231.96M	141.49M	-263.19M	-122.20M
Investing Cash Flow	-195.39M	-9.57M	-16.82M	-384.44M	-15.33M	-1.34M
Financing Cash Flow	-25.12M	-11.84M	-101.76M	8.44M	537.75M	-129.27M

Array Technologies Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 7.49
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ARRY, the sentiment is Neutral. The current price of 7.49 is below the 20-day moving average (MA) of 7.94, below the 50-day MA of 8.39, and above the 200-day MA of 7.04, indicating a neutral trend. The MACD of -0.38 indicates Positive momentum. The RSI at 44.73 is Neutral, neither overbought nor oversold. The STOCH value of 38.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ARRY.

Array Technologies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NXT	78 Outperform	$13.45B	23.56	35.44%	―	20.37%	3.46%
SHLS	67 Neutral	$1.37B	41.22	5.86%	―	2.68%	2.90%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
FTCI	55 Neutral	$137.30M	―	-664.69%	―	39.53%	-7.16%
ARRY	54 Neutral	$1.14B	―	-7.75%	―	35.75%	37.97%
SEDG	49 Neutral	$2.12B	―	-78.09%	―	-0.14%	66.71%
MAXN	39 Underperform	$50.35M	―	―	―	-54.68%	63.56%

Array Technologies Corporate Events

Array Technologies Inc. Reports Strong Q3 2025 Earnings

Array Technologies Inc. recently held its earnings call, revealing a positive sentiment driven by impressive financial performance and strategic growth initiatives. The company showcased resilience in the face of external challenges, such as tariffs and fluctuating commodity prices, by leveraging effective supply chain strategies and a robust order book.

Array Technologies Reports Strong Q3 2025 Results

Array Technologies, Inc. is a prominent global provider of solar tracking technology and fixed-tilt systems, catering to utility-scale and distributed generation customers with solutions designed to optimize energy production and withstand harsh weather conditions.

Array Technologies Completes Acquisition of APA Solar

On August 14, 2025, Array Technologies completed its acquisition of APA Solar, a premier provider of solar racking and structural solutions. This strategic move is expected to strengthen Array’s position in the renewable energy sector by expanding its product portfolio and enhancing its ability to serve a broader range of utility-scale and commercial solar projects. The acquisition is anticipated to be accretive to Array’s earnings and offers significant opportunities for commercial synergies, further accelerating the deployment of solar energy solutions.

The most recent analyst rating on (ARRY) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on Array Technologies stock, see the ARRY Stock Forecast page.

Array Technologies’ Earnings Call: Growth Amid Challenges

Array Technologies Inc. recently held its earnings call, revealing a blend of optimism and caution. The company showcased significant revenue and volume growth, successful debt refinancing, and promising product developments. However, these positive strides were tempered by regulatory challenges, tariff impacts, and some project descoping. Despite these hurdles, Array Technologies’ strategic initiatives, such as acquiring APA Solar and introducing innovations like the domestic content tracker, position the company well for future growth.