Array Technologies, Inc.

ARRY

$4.54

-0.66%

N/A-$0.03

Energy

Solar

NASDAQ

Active Trading

Array Technologies, Inc. (ARRY) develops, manufactures, and provides solar tracking solutions and complementary products for customers both within the United States and ...

Key Metrics of ARRY

Snapshot

Latest / TTM · 6 periods

Market Cap

$698.37M

ROCE

3.5%

EV / EBITDA

274.73x

-3.4% YoY

FCF Yield

19.3%

+13.6% YoY

Cash Conversion Cycle

97.7d

Current Ratio

2.20

Quick take

TTM —

Positive CCC

Key Metrics

Latest / TTM · 6 periods

Valuation trend

Valuation trend table

Metric	2021	2022	2023	2024	2025	TTM
Market CapTotal market value of all shares outstanding.	$2.04B	$2.90B	$2.54B	$916.59M	$1.41B	$698.37M
Enterprise ValueCompany value including debt and cash adjustments.	$2.40B	$3.53B	$3.02B	$1.25B	$1.93B	$1.14B
EV / SalesHow many dollars investors pay per dollar of sales.	2.81x	2.16x	1.91x	1.37x	1.50x	0.97x
EV / EBITDAValuation multiple versus operating earnings before non-cash charges.	4711.99x	26.59x	10.92x	-7.68x	42.47x	274.73x
Net Debt / EBITDALeverage ratio using net debt divided by EBITDA.	705.21	4.79	1.74	-2.06	11.49	107.01

Returns + ROCE gauge

ROCE latest

3.5%

Prev year 6.9%

Returns + ROCE gauge table

Metric	2021	2022	2023	2024	2025	TTM
ROEProfit generated from shareholders' equity.	-30.0%	1.0%	22.5%	-83.2%	-20.1%	-47.0%
ROAProfit generated from total assets.	-4.4%	0.3%	8.0%	-16.9%	-3.6%	-5.6%
ROICReturn generated on invested operating capital.	-2.4%	-2.4%	12.8%	-22.3%	-0.3%	-6.4%
ROCEOperating return on long-term capital used.	-2.8%	-1.5%	15.6%	-23.0%	6.9%	3.5%
Earnings YieldEarnings as a percentage of market value.	-2.5%	0.2%	5.4%	-26.2%	-3.7%	-12.3%

Cash flow quality

Cash flow quality table

Metric	2021	2022	2023	2024	2025	TTM
FCFFCash flow available to all capital providers.	$-237.12M	$98.03M	$249.23M	$180.08M	$128.68M	$160.29M
FCFECash flow available to equity holders after debt flows.	$13.55M	$112.83M	$115.91M	$138.01M	$43.81M	$96.43M
FCF YieldFree cash flow divided by market capitalization.	-13.1%	4.5%	8.5%	16.0%	5.7%	19.3%
Income QualityHow well accounting earnings are backed by cash flow.	5.22	31.93	1.69	-0.64	-1.95	-1.90
Capex / OCFShare of operating cash flow spent on capital expenditures.	-1.3%	7.5%	7.3%	4.7%	21.6%	17.3%

Operating efficiency

Operating efficiency table

Metric	2021	2022	2023	2024	2025	TTM
DSOAverage days to collect cash from customers.	104.8d	94.7d	76.9d	109.9d	77.2d	99.6d
DIOAverage days inventory stays before being sold.	95.6d	59.7d	50.9d	118.6d	55.7d	63.6d
DPOAverage days the company takes to pay suppliers.	42.8d	43.7d	37.6d	101.8d	53.3d	65.5d
Operating CycleTime from buying inventory to collecting receivables.	200.4d	154.4d	127.8d	228.5d	132.9d	163.3d
Cash Conversion CycleNet days cash is tied in operations.	157.7d	110.7d	90.2d	126.7d	79.6d	97.7d

Snapshot

Latest / TTM: —

Market Cap

$698.37M

ROE

-47.0%

FCF Yield

19.3%

Current Ratio

2.20

Supply Chain of ARRY

Upstream / Downstream / Proxies

Upstream

Steel Dynamics Inc.NASDAQ:STLD Nucor CorporationNYSE:NUE POSCO Holdings Inc.KRX:005490Extruded Aluminum Corporation (EAC)Lock Joint TubeAluminum Products Company (ALUPCO)Gearbox, Electric Motor & Motor Controller Suppliers (Unnamed OEMs)

Downstream

Primoris Services CorporationNYSE:PRIMRP Construction Services (RPCS)Lightsource bpENGIE SAENXTPA:ENGIDuke Energy Corporation (via REC Solar / Duke Energy Renewables)NYSE:DUK

Proxies

Nextracker Inc. (Nextpower Inc. Class A)NASDAQ:NXT FTC Solar, Inc.NASDAQ:FTCI Shoals Technologies Group, Inc.NASDAQ:SHLS

About UsPrivacy PolicyTerms of ServiceDisclaimerStock DirectoryETFsIndices13F HoldingsAnalyst TargetsFree ToolsTechnology MapJoin our Slack

Plutux is not an investment adviser. Market data and AI-generated analysis are for information and education only, not investment advice. Disclaimer