ARRY Chart
About

Array Technologies, Inc. manufactures and sells solar tracking technology products in the United States, Spain, Brazil, Australia, and internationally. The company operates through two segments, Array Legacy Operations and STI Operations. Its 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.

Fundamentals
Scroll to Statements
Sector Technology Industry Solar Market Cap 1.64B
Enterprise Value 2.60B Income -92.11M Sales 1.33B
Book/sh -0.31 Cash/sh 1.45 Dividend Yield —
Payout 0.00% Employees 1021 IPO —
P/E — Forward P/E 12.14 PEG —
P/S 1.23 P/B -35.07 P/C —
EV/EBITDA 14.07 EV/Sales 1.95 Quick Ratio 1.40
Current Ratio 1.89 Debt/Eq 180.79 LT Debt/Eq —
EPS (ttm) -0.61 EPS next Y 0.88 EPS Growth —
Revenue Growth 70.00% Earnings 2026-02-25 ROA 6.13%
ROE -7.75% ROIC — Gross Margin 26.82%
Oper. Margin 13.97% Profit Margin -2.50% Shs Outstand 152.75M
Shs Float 139.18M Short Float 17.87% Short Ratio 3.81
Short Interest — 52W High 12.23 52W Low 3.76
Beta 1.70 Avg Volume 5.60M Volume 3.88M
Target Price $11.05 Recom Buy Prev Close $10.69
Price $10.73 Change 0.37%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$11.05
Mean price target
2. Current target
$10.73
Latest analyst target
3. DCF / Fair value
$16.61
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$10.73
Low
$6.00
High
$15.00
Mean
$11.05

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-01-14 main Barclays Equal-Weight → Equal-Weight $9
2026-01-09 up TD Cowen Hold → Buy $12
2025-11-11 main UBS Buy → Buy $15
2025-11-11 main Wells Fargo Equal-Weight → Equal-Weight $10
2025-11-10 up Seaport Global Neutral → Buy $12
2025-11-07 main Barclays Equal-Weight → Equal-Weight $8
2025-11-06 main TD Cowen Hold → Hold $10
2025-10-21 main Citigroup Buy → Buy $13
2025-10-16 main Morgan Stanley Equal-Weight → Equal-Weight $8
2025-10-16 main JP Morgan Overweight → Overweight $15
2025-10-13 main Susquehanna Neutral → Neutral $9
2025-10-06 main Guggenheim Buy → Buy $15
2025-10-02 down Barclays Overweight → Equal-Weight $9
2025-09-30 init Deutsche Bank — → Buy $11
2025-09-30 init Baird — → Outperform $11
2025-09-12 down B of A Securities Neutral → Underperform $7
2025-08-11 main UBS Buy → Buy $9
2025-07-21 main Susquehanna Neutral → Neutral $8
2025-06-27 reit Mizuho Neutral → Neutral $9
2025-06-20 main Mizuho Neutral → Neutral $9
Insider Transactions
Date Shares Url Text Insider Position Transaction Start Date Ownership Value
0 3749 — — MANNING NEIL President — 2026-02-13 00:00:00 D nan
1 13386 — — GUNNING GINA K Officer — 2026-01-30 00:00:00 D nan
2 3727 — Stock Award(Grant) at price 5.02 - 9.22 per share. HOSTETLER KEVIN GEORGE Chief Executive Officer — 2025-12-31 00:00:00 D 23863.0
3 1156 — Stock Award(Grant) at price 9.22 per share. COLLINS TERRANCE L Officer — 2025-12-31 00:00:00 D 10658.0
4 1737 — Stock Award(Grant) at price 5.02 - 9.22 per share. MANNING NEIL President — 2025-12-31 00:00:00 D 12176.0
5 5082 — — COLLINS TERRANCE L Officer — 2025-08-01 00:00:00 D nan
6 15301 — Stock Award(Grant) at price 0.00 per share. JOKINEN TRACY C Director — 2025-05-21 00:00:00 D —
7 15301 — Stock Award(Grant) at price 0.00 per share. ASHFORD ORLANDO D Director — 2025-05-21 00:00:00 D —
8 15301 — Stock Award(Grant) at price 0.00 per share. ALSTEAD TROY M Director — 2025-05-21 00:00:00 D —
9 15301 — Stock Award(Grant) at price 0.00 per share. SCHMID GERRARD Director — 2025-05-21 00:00:00 D —
Financials
Line Item2024-12-312023-12-312022-12-312021-12-31
TaxEffectOfUnusualItems-13.51M-679.79K10.17M-471.80K
TaxRateForCalcs0.040.230.210.17
NormalizedEBITDA169.57M279.23M84.39M3.21M
TotalUnusualItems-332.54M-3.02M48.41M-2.70M
TotalUnusualItemsExcludingGoodwill-332.54M-3.02M48.41M-2.70M
NetIncomeFromContinuingOperationNetMinorityInterest-240.39M137.24M4.43M-50.40M
ReconciledDepreciation52.78M54.83M101.06M25.95M
ReconciledCostOfRevenue601.44M1.15B1.41B768.44M
EBITDA-162.97M276.21M132.80M509.00K
EBIT-215.75M221.39M31.74M-25.44M
NetInterestIncome-18.05M-35.90M-33.51M-35.48M
InterestExpense34.83M44.23M36.69M35.68M
InterestIncome16.78M8.33M3.18M209.00K
NormalizedIncome78.64M139.58M-33.81M-48.18M
NetIncomeFromContinuingAndDiscontinuedOperation-240.39M137.24M4.43M-50.40M
TotalExpenses814.78M1.36B1.66B875.36M
TotalOperatingIncomeAsReported-227.00M214.12M-18.13M-24.74M
DilutedAverageShares151.75M152.02M149.82M129.98M
BasicAverageShares151.75M150.94M149.82M129.98M
DilutedEPS-1.950.56-0.29-0.51
BasicEPS-1.950.57-0.29-0.51
DilutedNIAvailtoComStockholders-296.06M85.55M-43.62M-66.12M
NetIncomeCommonStockholders-296.06M85.55M-43.62M-66.12M
PreferredStockDividends55.67M51.69M48.05M15.71M
NetIncome-240.39M137.24M4.43M-50.40M
NetIncomeIncludingNoncontrollingInterests-240.39M137.24M4.43M-50.40M
NetIncomeContinuousOperations-240.39M137.24M4.43M-50.40M
TaxProvision-10.18M39.92M-9.38M-10.72M
PretaxIncome-250.58M177.16M-4.95M-61.12M
OtherIncomeExpense-333.55M-4.03M51.20M-3.60M
OtherNonOperatingIncomeExpenses-1.01M-1.01M2.79M-905.00K
SpecialIncomeCharges-328.03M-2.96M47.26M-2.70M
OtherSpecialCharges-42.75M
ImpairmentOfCapitalAssets327.90M0.000.00
RestructuringAndMergernAcquisition125.00K2.96M-4.51M2.70M
GainOnSaleOfSecurity-4.51M-53.00K1.16M
NetNonOperatingInterestIncomeExpense-18.05M-35.90M-33.51M-35.48M
InterestExpenseNonOperating34.83M44.23M36.69M35.68M
InterestIncomeNonOperating16.78M8.33M3.18M209.00K
OperatingIncome101.02M217.09M-22.64M-22.05M
OperatingExpense196.65M198.46M235.36M90.35M
DepreciationAmortizationDepletionIncomeStatement36.09M38.93M84.58M9.37M
DepreciationAndAmortizationInIncomeStatement36.09M38.93M84.58M9.37M
SellingGeneralAndAdministration160.57M159.53M150.78M80.97M
GeneralAndAdministrativeExpense160.57M159.53M150.78M80.97M
OtherGandA160.57M159.53M150.78M80.97M
GrossProfit297.68M415.55M212.72M68.30M
CostOfRevenue618.13M1.16B1.42B785.02M
TotalRevenue915.81M1.58B1.64B853.32M
OperatingRevenue915.81M1.58B1.64B853.32M
Line Item2024-12-312023-12-312022-12-312021-12-31
OrdinarySharesNumber151.95M151.24M150.51M135.03M
ShareIssued151.95M151.24M150.51M135.03M
NetDebt314.29M433.34M625.14M347.69M
TotalDebt692.58M730.47M769.60M721.26M
TangibleBookValue-459.69M-530.73M-678.27M-313.69M
InvestedCapital559.19M941.67M883.32M646.15M
WorkingCapital560.91M496.59M365.95M606.73M
NetTangibleAssets-52.76M-179.47M-378.70M-76.22M
CapitalLeaseObligations15.29M48.05M10.55M5.91M
CommonStockEquity-118.10M259.25M124.28M-69.20M
PreferredStockEquity406.93M351.26M299.57M237.46M
TotalCapitalization935.40M1.27B1.14B879.31M
TotalEquityGrossMinorityInterest288.83M610.51M423.85M168.26M
StockholdersEquity288.83M610.51M423.85M168.26M
GainsLossesNotAffectingRetainedEarnings-45.40M44.81M8.43M0.00
OtherEquityAdjustments-45.40M44.81M8.43M
RetainedEarnings-370.62M-130.23M-267.47M-271.90M
AdditionalPaidInCapital297.78M344.52M383.18M202.56M
CapitalStock407.08M351.41M299.72M237.60M
CommonStock151.00K151.00K150.00K135.00K
PreferredStock406.93M351.26M299.57M237.46M
TotalLiabilitiesNetMinorityInterest1.14B1.10B1.28B974.72M
TotalNonCurrentLiabilitiesNetMinorityInterest699.35M760.54M816.94M729.42M
OtherNonCurrentLiabilities26.55M29.36M22.20M12.80M
NonCurrentDeferredLiabilities21.40M66.86M72.61M0.00
NonCurrentDeferredTaxesLiabilities21.40M66.86M72.61M0.00
LongTermDebtAndCapitalLeaseObligation646.57M660.95M720.35M711.06M
LongTermDebt646.57M660.95M720.35M711.06M
LongTermProvisions4.83M3.37M1.79M5.56M
CurrentLiabilities437.81M335.69M465.26M245.31M
OtherCurrentLiabilities1.19M1.43M1.20M1.77M
CurrentDeferredLiabilities119.78M66.49M178.92M99.58M
CurrentDeferredRevenue119.78M66.49M178.92M99.58M
CurrentDebtAndCapitalLeaseObligation46.01M69.52M49.24M10.21M
CurrentCapitalLeaseObligation15.29M48.05M10.55M5.91M
CurrentDebt30.71M21.47M38.69M4.30M
OtherCurrentBorrowings30.71M21.47M38.69M4.30M
CurrentProvisions3.19M
PayablesAndAccruedExpenses270.84M198.25M235.90M133.75M
CurrentAccruedExpenses15.82M23.29M18.23M41.69M
InterestPayable692.00K4.72M3.05M
Payables255.02M174.96M217.66M92.06M
OtherPayable73.40M44.15M39.40M
TotalTaxPayable9.25M11.31M7.83M60.00K
IncomeTaxPayable5.23M5.75M6.88M60.00K
AccountsPayable172.37M119.50M170.43M92.00M
TotalAssets1.43B1.71B1.71B1.14B
TotalNonCurrentAssets427.27M874.46M874.84M290.95M
OtherNonCurrentAssets41.70M40.72M32.66M26.43M
NonCurrentDeferredAssets17.75M15.87M16.47M9.35M
NonCurrentDeferredTaxesAssets17.75M15.87M16.47M9.35M
GoodwillAndOtherIntangibleAssets341.60M789.98M802.55M244.48M
OtherIntangibleAssets181.41M354.39M386.36M174.75M
Goodwill160.19M435.59M416.18M69.73M
NetPPE26.22M27.89M23.17M10.69M
AccumulatedDepreciation-24.77M-20.82M-17.82M-11.22M
GrossPPE50.99M48.71M40.99M21.91M
ConstructionInProgress3.95M6.20M5.14M1.88M
OtherProperties27.85M22.96M18.98M13.92M
MachineryFurnitureEquipment8.49M8.57M7.87M2.32M
BuildingsAndImprovements9.11M9.34M7.41M2.45M
LandAndImprovements1.58M1.63M1.58M1.34M
Properties0.000.000.000.00
CurrentAssets998.72M832.28M831.21M852.03M
OtherCurrentAssets157.93M89.08M39.43M33.65M
RestrictedCash1.15M0.00
PrepaidAssets33.65M
Inventory200.82M161.96M233.16M205.65M
InventoriesAdjustmentsAllowances-8.27M-7.42M
FinishedGoods140.23M75.35M166.59M127.60M
RawMaterials60.59M86.61M66.57M85.47M
Receivables275.84M332.15M424.71M245.06M
TaxesReceivable0.003.53M9.05M
AccountsReceivable275.84M332.15M421.18M236.01M
AllowanceForDoubtfulAccountsReceivable-4.85M-3.82M-1.89M-140.00K
GrossAccountsReceivable280.69M335.98M423.07M236.15M
CashCashEquivalentsAndShortTermInvestments362.99M249.08M133.90M367.67M
CashAndCashEquivalents362.99M249.08M133.90M367.67M
Line Item2024-12-312023-12-312022-12-312021-12-31
FreeCashFlow135.40M214.97M130.87M-266.54M
RepaymentOfDebt-101.72M-162.36M-154.24M-259.26M
IssuanceOfDebt93.06M63.31M136.19M539.35M
IssuanceOfCapitalStock0.000.0048.98M345.63M
CapitalExpenditure-18.58M-16.99M-10.62M-3.36M
InterestPaidSupplementalData38.66M43.95M23.12M24.31M
IncomeTaxPaidSupplementalData27.97M45.94M10.74M13.32M
EndCashPosition364.14M249.08M133.90M367.67M
BeginningCashPosition249.08M133.90M367.67M108.44M
EffectOfExchangeRateChanges-17.50M1.81M735.00K0.00
ChangesInCash132.56M113.37M-234.50M259.23M
FinancingCashFlow-11.84M-101.76M8.44M537.75M
CashFlowFromContinuingFinancingActivities-11.84M-101.76M8.44M537.75M
NetOtherFinancingCharges-3.18M-2.71M-3.83M-79.93M
CashDividendsPaid0.000.00-18.67M-8.05M
PreferredStockDividendPaid0.000.00-18.67M-8.05M
NetPreferredStockIssuance0.000.0033.10M224.99M
PreferredStockIssuance0.000.0033.10M224.99M
NetCommonStockIssuance0.000.0015.88M120.64M
CommonStockIssuance0.000.0015.88M120.64M
NetIssuancePaymentsOfDebt-8.66M-99.05M-18.05M280.10M
NetShortTermDebtIssuance0.000.000.000.00
ShortTermDebtPayments0.000.00-116.00M-126.03M
ShortTermDebtIssuance0.000.00116.00M126.03M
NetLongTermDebtIssuance-8.66M-99.05M-18.05M280.10M
LongTermDebtPayments-101.72M-162.36M-38.23M-133.22M
LongTermDebtIssuance93.06M63.31M20.19M413.32M
InvestingCashFlow-9.57M-16.82M-384.44M-15.33M
CashFlowFromContinuingInvestingActivities-9.57M-16.82M-384.44M-15.33M
NetInvestmentPurchaseAndSale-3.00M0.000.00-11.97M
PurchaseOfInvestment-3.00M0.000.00-11.97M
NetBusinessPurchaseAndSale11.97M0.00-373.82M0.00
SaleOfBusiness11.97M0.000.00
PurchaseOfBusiness0.000.00-373.82M0.00
NetPPEPurchaseAndSale-18.55M-16.82M-10.62M-3.36M
SaleOfPPE34.00K168.00K0.000.00
PurchaseOfPPE-18.58M-16.99M-10.62M-3.36M
OperatingCashFlow153.98M231.96M141.49M-263.19M
CashFlowFromContinuingOperatingActivities153.98M231.96M141.49M-263.19M
ChangeInWorkingCapital26.64M7.51M44.34M-261.16M
ChangeInOtherWorkingCapital55.56M-111.99M59.00M-50.62M
ChangeInOtherCurrentLiabilities-8.62M1.18M3.78M221.00K
ChangeInPayablesAndAccruedExpense56.88M-30.39M12.94M7.39M
ChangeInAccruedExpense-436.00K5.33M1.02M9.13M
ChangeInPayable57.32M-35.72M11.91M-1.74M
ChangeInAccountPayable58.18M-37.65M12.67M7.01M
ChangeInTaxPayable-863.00K1.94M-755.00K-8.75M
ChangeInIncomeTaxPayable-863.00K1.94M-755.00K-8.75M
ChangeInPrepaidAssets-69.71M-10.84M19.12M-21.23M
ChangeInInventory-44.79M66.74M20.87M-88.18M
ChangeInReceivables37.31M92.81M-71.37M-108.74M
ChangesInAccountReceivables41.42M92.80M-76.98M-116.85M
OtherNonCashItems6.21M13.08M2.35M17.73M
StockBasedCompensation10.35M14.54M14.98M13.76M
ProvisionandWriteOffofAssets5.22M7.19M6.75M1.04M
AssetImpairmentCharge330.83M6.43M-859.00K
DeferredTax-37.65M-8.86M-31.57M-10.10M
DeferredIncomeTax-37.65M-8.86M-31.57M-10.10M
DepreciationAmortizationDepletion52.78M54.83M101.06M25.95M
DepreciationAndAmortization52.78M54.83M101.06M25.95M
AmortizationCashFlow14.56M14.56M14.56M14.56M
AmortizationOfIntangibles14.56M14.56M14.56M14.56M
Depreciation38.22M40.27M86.50M11.39M
NetIncomeFromContinuingOperations-240.39M137.24M4.43M-50.40M
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for ARRY
Date User Asset Broker Type Position Size Entry Price Patterns