Array Technologies, Inc. (ARRY) AI Stock Analysis

Array Technologies, Inc. manufactures and supplies solar tracking systems and related software for utility-scale solar energy projects globally. Its core offering is the DuraTrack HZ v3, a single-axis solar tracking system engineered to follow the sun's trajectory dynamically to optimize energy absorption. The company also provides SmarTrack, a machine-learning software suite that analyzes real-time environmental factors and solar irradiance to optimize solar array angles. Headquartered in Albuquerque, New Mexico, Array Technologies operates with 1,200 employees and focuses on enhancing energy production and the economic performance of solar energy facilities.

Array Technologies delivered a 5-year revenue CAGR of 8.0% from FY2020 to FY2025. Annual revenue expanded from $853.3M in FY2021 to $1.64B in FY2022, before moderating to $1.58B in FY2023 and dropping to $915.8M in FY2024. Revenue rebounded 40.2% to $1.28B in FY2025, alongside gross margin of 23.2% and an operating margin of 5.7%, though net income remained negative at -$52.2M. For the trailing twelve months ended June 30, 2026, revenue stood at $1.19B with an operating margin of 10.9%. In the latest quarter ended June 30, 2026, quarterly revenue fell 5.6% year-over-year while quarterly earnings declined 73.2%.

As of June 30, 2026, Array Technologies held $307.3M in cash and short-term investments against $752.9M in total debt, resulting in net debt of $445.6M. Total assets stood at $1.53B, supported by a current ratio of 2.20. The company reported negative shareholders' equity of -$202.1M. Cash generation remained positive in FY2025, delivering $101.8M in operating cash flow and $79.8M in free cash flow, after accounting for $22.0M in capital expenditures. Over five years, the company's share count increased 18.9%.

Array Technologies trades at a market capitalization of $527.6M and an enterprise value of $1.54B. Its forward P/E of 4.8x is well below the 18.8x median of its US-listed Technology peers, while its price-to-sales multiple of 0.4x compares to the peer median of 2.8x. However, its EV-to-EBITDA stands at 212.3x compared to 16.6x for the peer group median. Over the past year, the stock fell 60.9%, underperforming the S&P 500 return of 16.8%, and its 5-year return of -81.8% trailed the benchmark return of 83.0%.

Wall Street coverage includes 10 Strong Buy, 1 Buy, and 13 Hold recommendations, with no Sell or Strong Sell ratings. The average analyst price target is $7.44, representing an implied upside of 116.9% above the last close of $3.43. For the fiscal year ending December 31, 2026, consensus estimates project revenue of $1.43B and EPS of $0.75, representing 11.9% earnings growth. Over the last four quarters, Array beat EPS projections 3 times, and its next earnings release is scheduled for November 5, 2026.

This page is an AI-written research summary of Array Technologies, Inc. (ARRY). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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