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Employees: 1,200
Size Array Technologies (ARRY) is a United States Industrials company (Electrical Products) with a market value of $902M, the 2314th largest of 3,117 United States companies the cockpit tracks. Shares closed at $5.86 on 6 Nov 2026.
Performance Over six months the shares fell 31.7%, against -20.7% for the median peer and -1.1% for the United States market (cap-weighted) — 7th lowest of 20 in its peer set.
Growth Revenue fell 15.9% over the last twelve months (peer median +6.5%); the operating margin is 0.0% (peer median 8.3%).
Valuation It trades at 6.5× forward earnings against a peer median of 14.6× (cheapest of 11).
Price implies For today's price to make sense, revenue must grow about 58% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is +50 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 10.0 points below its cost of capital (10.0% WACC).
Backlog Backlog (remaining performance obligations) was $414M at 30 Jun 2026, down 36% on a year earlier — 0.3 years of trailing revenue. Backlog detail →
Credit Array Technologies has 1 bond outstanding ($325M).
Short interest Short interest is 27.9% of the free float (15 Oct 2026).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.12B | $1.28B | $916M | $1.58B | $1.64B |
| Revenue growth | — | +40% | -42% | -4% | — |
| Gross profit | $220M | $272M | $262M | $377M | $128M |
| EBITDA | $50.4M | $132M | $154M | $272M | $84.0M |
| Net income | -$111M | -$52.2M | -$240M | $137M | $4.43M |
| Free cash flow | $112M | $79.8M | $147M | $215M | $131M |
| Capital expenditure | $28.3M | $22.0M | $7.30M | $17.0M | $10.6M |
| Total debt | $751M | $766M | $698M | $708M | $779M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ARRY | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +56.1% | -10.2% | highest of 21 |
| 6-month return | -31.7% | -20.7% | 7th lowest of 20 |
| Distance from 52-week high | -52.1% | -38.2% | 6th lowest of 21 |
| Revenue growth (TTM) | -15.9% | +6.5% | 2nd lowest of 21 |
| Operating margin | 0.0% | 8.3% | 5th lowest of 20 |
| Forward P/E | 6.5× | 14.6× | cheapest of 11 |
| Growth the price implies (Req g, 7 yrs) | 57.9% | 13.7% | most demanding of 16 |
| Growth delivered (Del g) | +8.0% | +8.0% | 8th highest of 15 |
| Hurdle (Req g minus delivered) | +49.9 pp | +0.7 pp | 2nd most demanding of 15 |
| ROIC minus cost of capital | -10.0 pp | -2.9 pp | 3rd lowest of 20 |
| Net debt / EBITDA | 12.1× | 0.9× | 2nd most indebted of 6 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Array Technologies ARRY | United States | $902M | -32% | -16% | 0% | 6.5× | 57.9% | +8.0% |
| Shenzhen Center Power Tech 002733.SZ | China | $901M | -43% | +16% | 5% | n/a | 16.9% | +6.4% |
| R&S Group Holding AG Pref RSGN.SW | Switzerland | $899M | -22% | +2% | 18% | 14.6× | -7.0% | +2.3% |
| NITTO KOGYO 6651.T | Japan | $906M | -17% | +6% | 8% | 11.6× | -2.7% | +7.3% |
| CWB Automotive Electronics 605005.SS | China | $907M | -21% | 0% | 9% | n/a | 9.4% | +9.3% |
| Beijing Jingwei Hirain Technologies 688326.SS | China | $896M | -40% | +2% | -5% | n/a | n/a | n/a |
| Beijing SOJO Electric 300444.SZ | China | $912M | -52% | -11% | -4% | 9.1× | n/a | n/a |
| Changgao Electric 002452.SZ | China | $917M | -10% | -9% | 19% | 8.2× | 2.6% | +1.3% |
| Hangzhou Weiguang Electronic 002801.SZ | China | $884M | -21% | +11% | 17% | 13.4× | 6.6% | +13.1% |
| Kunshan GuoLi Electronic Technology 688103.SS | China | $924M | +7% | +34% | 5% | 53.9× | 37.7% | +26.6% |
| Changshu Fengfan Power Equipment 601700.SS | China | $924M | 0% | +31% | -9% | n/a | n/a | n/a |
| Fujian Nanping Sun Cable 002300.SZ | China | $924M | -9% | +9% | 0% | n/a | 19.6% | +8.7% |
| Shanghai Zhezhong 002346.SZ | China | $928M | -21% | +23% | 15% | n/a | 22.1% | +7.0% |
| Jinlei Technology 300443.SZ | China | $876M | -40% | -14% | 13% | 17.6× | 5.6% | +11.1% |
| Warom Technology 603855.SS | China | $938M | +1% | -18% | 15% | 14.6× | -2.6% | +7.1% |
| Qingdao CHOHO Industrial 003033.SZ | China | $939M | +36% | +6% | 9% | n/a | 14.2% | +14.6% |
| Sunway 603333.SS | China | $941M | +1% | +68% | 3% | n/a | n/a | n/a |
| Beijing Creative 002350.SZ | China | $946M | -19% | +7% | -1% | n/a | 54.8% | -0.3% |
| Temb Intelligent Tech Shandong 603448.SS | China | $951M | n/a | +16% | n/a | n/a | 45.6% | n/a |
| Longwell 6290.TWO | Taiwan | $854M | -43% | +13% | 15% | 15.1× | 13.7% | +9.0% |
| Tellhow Sci-Tech 600590.SS | China | $852M | -56% | -11% | 5% | 16.0× | n/a | n/a |
Array Technologies has 1 bond outstanding with $325M face value.
Array Technologies reported $414M of remaining performance obligations at 30 Jun 2026, down 36% from a year earlier and down 24% from the previous quarter. That is 0.3 years of trailing revenue already under contract. Book-to-bill last quarter: 0.62.