ARRY - Array Technologies, Inc.
Price:
--
--
|
CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$9.83
DETAILS
HIGH:
$12.00
LOW:
$8.00
MEDIAN:
$10.00
CONSENSUS:
$9.83
UPSIDE:
40.03%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||
| Revenue | 1,284.1 | 915.8 | 1,576.6 | 1,637.5 | 853.3 | 872.7 | 647.9 | 290.8 |
| Cost of Revenue | 985.6 | 618.1 | 1,161 | 1,424.8 | 785.0 | 669.9 | 497.1 | 279.2 |
| Gross Profit | 298.6 | 297.7 | 415.6 | 212.7 | 68.3 | 202.8 | 150.8 | 11.6 |
| Operating Expenses | ||||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | 198.6 | 160.6 | 159.5 | 150.8 | 81.0 | 55.6 | 41.2 | 46.9 |
| Other Expenses | 26.2 | 364.1 | 41.9 | 80.1 | 12.1 | 52.0 | 26.1 | (0.4) |
| Operating Expenses | 224.8 | 524.7 | 201.4 | 230.9 | 93.0 | 107.6 | 67.4 | 73.6 |
| Operating Income | ||||||||
| Operating Income | 73.7 | (227.0) | 214.1 | (18.1) | (24.7) | 95.2 | 83.4 | (61.2) |
| Interest Expense | 27.3 | 34.8 | 44.2 | 36.7 | 35.7 | 15.1 | 18.8 | 19.0 |
| Interest Income | 11.9 | 16.8 | 8.3 | 3.2 | 0.2 | 0 | 0 | 0 |
| Profitability | ||||||||
| EBITDA | 45.4 | (163.0) | 276.2 | 132.8 | 0.5 | 149.1 | 110.7 | (33.2) |
| EBIT | (1.9) | (215.8) | 221.4 | 31.7 | (25.4) | 121.7 | 83.4 | (61.7) |
| Income Before Tax | (29.2) | (250.6) | 177.2 | (5.0) | (61.1) | 77.8 | 64.6 | (80.7) |
| Income Tax Expense | 23.0 | (10.2) | 39.9 | (9.4) | (10.7) | 18.7 | 24.8 | (19.9) |
| Net Income | (52.2) | (240.4) | 137.2 | 4.4 | (50.4) | 59.1 | 39.7 | (60.8) |
| Per Share Data | ||||||||
| EPS (Basic) | -0.73 | -1.95 | 0.57 | -0.29 | -0.51 | 0.47 | 0.31 | -0.48 |
| EPS (Diluted) | -0.73 | -1.95 | 0.56 | -0.29 | -0.51 | 0.47 | 0.31 | -0.48 |
| Shares Outstanding | 152.5 | 151.8 | 150.9 | 149.8 | 130.0 | 127.0 | 127.0 | 127.0 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||
| Cash & Cash Equivalents | 244.4 | 363.0 | 249.1 | 133.9 | 367.7 | 108.4 | 310.3 | 40.8 |
| Short-Term Investments | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 271.6 | 275.8 | 332.2 | 424.7 | 245.1 | 135.9 | 96.9 | 62.1 |
| Inventory | 150.4 | 200.8 | 162.0 | 233.2 | 205.7 | 118.5 | 148.0 | 55.2 |
| Other Current Assets | 202.7 | 159.1 | 89.1 | 39.4 | 0 | 0 | 51.0 | 0 |
| Total Current Assets | 869.0 | 998.7 | 832.3 | 831.2 | 852.0 | 375.2 | 619.7 | 173.9 |
| Non-Current Assets | ||||||||
| Property, Plant & Equipment | 155.3 | 26.2 | 54.0 | 23.2 | 10.7 | 9.8 | 10.7 | 11.0 |
| Goodwill | 135.2 | 160.2 | 435.6 | 416.2 | 69.7 | 69.7 | 69.7 | 69.7 |
| Intangible Assets | 238.6 | 181.4 | 350.4 | 386.4 | 174.8 | 198.3 | 223.5 | 248.8 |
| Long-Term Investments | 13.9 | 0 | 0 | 0 | 0 | (4.5) | 0 | (6.5) |
| Other Non-Current Assets | 15.8 | 41.7 | 18.6 | 32.7 | 26.4 | 3.1 | 0 | 6.5 |
| Total Non-Current Assets | 582.7 | 427.3 | 874.5 | 874.8 | 290.9 | 280.8 | 303.9 | 336.0 |
| Total Assets | 1,451.8 | 1,426.0 | 1,706.7 | 1,706.1 | 1,143.0 | 656.0 | 923.6 | 509.9 |
| Current Liabilities | ||||||||
| Account Payables | 144.0 | 172.4 | 119.5 | 170.4 | 92.0 | 85.0 | 135.5 | 30.0 |
| Short-Term Debt | 10.3 | 30.7 | 21.5 | 38.7 | 4.3 | 4.3 | 97.7 | 59.1 |
| Deferred Revenue | 128.4 | 119.8 | 66.5 | 178.9 | 99.6 | 149.8 | 328.8 | 21.8 |
| Other Current Liabilities | 16.8 | 10.9 | 1.4 | 1.2 | 1.8 | 9.0 | 6.3 | 2.7 |
| Total Current Liabilities | 377.0 | 437.8 | 335.7 | 465.3 | 245.3 | 289.1 | 590.6 | 134.6 |
| Non-Current Liabilities | ||||||||
| Long-Term Debt | 658.7 | 646.6 | 660.9 | 720.4 | 711.1 | 424.0 | 0 | 95.9 |
| Deferred Tax Liabilities | 22.1 | 21.4 | 66.9 | 72.6 | 0 | 13.1 | 15.9 | 0 |
| Other Non-Current Liabilities | 44.0 | 16.3 | 32.7 | 24.0 | 13.0 | 10.7 | 12.0 | 14.9 |
| Total Non-Current Liabilities | 814.4 | 699.4 | 760.5 | 816.9 | 729.4 | 447.8 | 27.8 | 110.8 |
| Total Liabilities | 1,191.4 | 1,137.2 | 1,096.2 | 1,282.2 | 974.7 | 736.9 | 618.4 | 245.4 |
| Stockholders' Equity | ||||||||
| Common Stock | 0.2 | 0.2 | 0.2 | 0.1 | 0.1 | 0.1 | 305.2 | 264.5 |
| Retained Earnings | (422.9) | (370.6) | (130.2) | (267.5) | (271.9) | (221.5) | 0 | 0 |
| Accumulated Other Comprehensive Income | (10.5) | (45.4) | 44.8 | 8.4 | 0 | 0 | 0 | 0 |
| Total Stockholders' Equity | 260.4 | 288.8 | 610.5 | 423.9 | 168.3 | (80.9) | 305.2 | 264.5 |
| Total Liabilities & Equity | 1,451.8 | 1,426.0 | 1,706.7 | 1,706.1 | 1,143.0 | 656.0 | 923.6 | 509.9 |
| Debt Metrics | ||||||||
| Total Debt | 766.2 | 698.0 | 730.5 | 769.6 | 726.6 | 428.3 | 97.7 | 155.0 |
| Net Debt | 521.8 | 335.0 | 481.4 | 635.7 | 359.0 | 319.8 | (212.5) | 114.2 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | (52.2) | (240.4) | 137.2 | 4.4 | (50.4) | 59.1 | 39.7 | (60.8) |
| Depreciation & Amortization | 47.3 | 52.8 | 54.8 | 101.1 | 25.9 | 27.5 | 27.3 | 28.4 |
| Stock-Based Compensation | 15.6 | 10.3 | 14.5 | 15.0 | 13.8 | 5.6 | 0.8 | 0 |
| Change in Working Capital | (55.0) | 26.6 | 7.5 | 44.3 | (261.2) | (246.8) | 289.3 | 31.1 |
| Other Non-Cash Items | 142.9 | 342.3 | 26.7 | 8.2 | 18.8 | 35.2 | 6.6 | 2.9 |
| Operating Cash Flow | 101.8 | 154.0 | 232.0 | 141.5 | (263.2) | (122.2) | 386.1 | (11.7) |
| Investing Activities | ||||||||
| Capital Expenditure | (22.0) | (7.3) | (17.0) | (10.6) | (3.4) | (1.3) | (1.7) | (6.4) |
| Acquisitions | (164.9) | 0.0 | 0 | (373.8) | 0 | 0 | 0 | 0 |
| Purchases of Investments | (1) | (14.3) | 0 | 0 | (12.0) | 0 | 0 | 0 |
| Sales/Maturities of Investments | 0 | 12.0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing Activities | 0 | 0 | 0.2 | 0 | 0 | 0 | 0 | (4.4) |
| Investing Cash Flow | (187.9) | (9.6) | (16.8) | (384.4) | (15.3) | (1.3) | (1.7) | (6.4) |
| Financing Activities | ||||||||
| Net Debt Issuance | (36.0) | (8.7) | (99.1) | (18.0) | 280.1 | 356.7 | (64.1) | 4.5 |
| Stock Repurchased | 0 | (1.8) | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | (18.7) | (8.1) | (589) | 0 | 0 |
| Other Financing Activities | (2.1) | (1.4) | (1.2) | (3.8) | (79.9) | (42.5) | 0.1 | 46.4 |
| Financing Cash Flow | (38.1) | (11.8) | (101.8) | 8.4 | 537.7 | (129.3) | (63.9) | 50.9 |
| Cash Position | ||||||||
| Net Change in Cash | (118.2) | 115.1 | 115.2 | (233.8) | 259.2 | (252.8) | 320.4 | 32.7 |
| Cash at Beginning | 364.1 | 249.1 | 133.9 | 367.7 | 108.4 | 361.3 | 40.8 | 8.1 |
| Cash at End | 246.0 | 364.1 | 249.1 | 133.9 | 367.7 | 108.4 | 361.3 | 40.8 |
| Free Cash Flow | 79.8 | 146.7 | 215.0 | 130.9 | (266.5) | (123.5) | 384.4 | (18.2) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 1,284.1 | 915.8 | 1,576.6 | 1,637.5 | 853.3 | 872.7 | 647.9 | 290.8 |
| Gross Profit | 298.6 | 297.7 | 415.6 | 212.7 | 68.3 | 202.8 | 150.8 | 11.6 |
| Operating Income | 73.7 | (227.0) | 214.1 | (18.1) | (24.7) | 95.2 | 83.4 | (61.2) |
| Net Income | (52.2) | (240.4) | 137.2 | 4.4 | (50.4) | 59.1 | 39.7 | (60.8) |
| EPS (Diluted) | -0.73 | -1.95 | 0.56 | -0.29 | -0.51 | 0.47 | 0.31 | -0.48 |
| Balance Sheet | ||||||||
| Cash & Equivalents | 244.4 | 363.0 | 249.1 | 133.9 | 367.7 | 108.4 | 310.3 | 40.8 |
| Total Assets | 1,451.8 | 1,426.0 | 1,706.7 | 1,706.1 | 1,143.0 | 656.0 | 923.6 | 509.9 |
| Total Debt | 766.2 | 698.0 | 730.5 | 769.6 | 726.6 | 428.3 | 97.7 | 155.0 |
| Stockholders' Equity | 260.4 | 288.8 | 610.5 | 423.9 | 168.3 | (80.9) | 305.2 | 264.5 |
| Cash Flow | ||||||||
| Operating Cash Flow | 101.8 | 154.0 | 232.0 | 141.5 | (263.2) | (122.2) | 386.1 | (11.7) |
| Capital Expenditure | (22.0) | (7.3) | (17.0) | (10.6) | (3.4) | (1.3) | (1.7) | (6.4) |
| Free Cash Flow | 79.8 | 146.7 | 215.0 | 130.9 | (266.5) | (123.5) | 384.4 | (18.2) |