Stock ARRY ARRAY TECHNOLOGIES, INC.
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Financials Array Technologies, Inc.

Equities

ARRY

US04271T1007

Renewable Energy Equipment & Services

Market Closed - Nasdaq
Other stock markets
 04:00:00 2024-04-26 pm EDT 		5-day change 1st Jan Change
12.4 USD +3.85% Intraday chart for Array Technologies, Inc. +10.03% -26.19%
Apr. 26 Array Technologies, Inc. Announces A New $50+ Million Manufacturing Campus in Bernalillo County, New Mexico CI
Apr. 11 Piper Sandler Adjusts Price Target on Array Technologies to $13 From $12, Maintains Neutral Rating MT

Valuation

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 5,479 2,119 2,909 2,540 1,881 - -
Enterprise Value (EV) 1 5,798 2,472 3,545 3,022 2,178 2,236 2,123
P/E ratio 88 x -30.8 x -66.7 x 30 x 19.6 x 11.5 x 12.5 x
Yield - - - - - - -
Capitalization / Revenue 6.28 x 2.48 x 1.78 x 1.61 x 1.39 x 1.11 x 1.03 x
EV / Revenue 6.64 x 2.9 x 2.16 x 1.92 x 1.61 x 1.32 x 1.17 x
EV / EBITDA 36.1 x 57.2 x 27.5 x 10.5 x 7.23 x 5.88 x 5.48 x
EV / FCF -46.9 x -9.27 x 27.1 x 14.1 x 16.5 x 10.2 x 9.67 x
FCF Yield -2.13% -10.8% 3.69% 7.11% 6.08% 9.79% 10.3%
Price to Book -67.7 x 12.1 x 23.3 x 9.8 x 5.99 x 4.48 x 2.72 x
Nbr of stocks (in thousands) 126,994 135,027 150,491 151,216 151,727 - -
Reference price 2 43.14 15.69 19.33 16.80 12.40 12.40 12.40
Announcement Date 3/9/21 4/5/22 3/21/23 2/27/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 647.9 872.7 853.3 1,638 1,577 1,355 1,692 1,820
EBITDA 1 - 160.5 43.22 128.7 288.1 301.4 380.5 387.4
EBIT 1 - 133.1 -24.74 -18.13 214.1 222 304.2 319.3
Operating Margin - 15.25% -2.9% -1.11% 13.58% 16.39% 17.98% 17.55%
Earnings before Tax (EBT) 1 - 77.78 -61.12 -4.952 177.2 189.5 275 313.9
Net income 1 39.74 59.07 -66.12 -43.62 85.55 100.1 165.8 160.3
Net margin 6.13% 6.77% -7.75% -2.66% 5.43% 7.39% 9.8% 8.81%
EPS 2 - 0.4900 -0.5100 -0.2900 0.5600 0.6341 1.078 0.9886
Free Cash Flow 1 - -123.5 -266.5 130.9 215 132.3 218.9 219.5
FCF margin - -14.16% -31.24% 7.99% 13.64% 9.77% 12.94% 12.06%
FCF Conversion (EBITDA) - - - 101.66% 74.61% 43.91% 57.53% 56.67%
FCF Conversion (Net income) - - - - 251.28% 132.25% 132.03% 136.92%
Dividend per Share 2 - - - - - - - -
Announcement Date 10/8/20 3/9/21 4/5/22 3/21/23 2/27/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 192.1 219.9 300.6 424.9 515 402.1 376.8 507.7 350.4 341.6 158.1 281.6 428.4 487.1 327.9
EBITDA 1 -0.504 0.453 0.737 25.94 55.42 51.7 66.97 115.6 57.39 48.18 18.25 55.66 101.3 123.3 72.26
EBIT 1 -16.13 -20.01 -32.16 -6.844 18.52 16.35 47.46 96.24 40.2 30.22 -1.786 38.64 83.92 103 56.33
Operating Margin -8.4% -9.1% -10.7% -1.61% 3.6% 4.07% 12.6% 18.96% 11.47% 8.85% -1.13% 13.72% 19.59% 21.14% 17.18%
Earnings before Tax (EBT) 1 -29.54 -27.13 -34.5 -16.97 51.97 8.548 36.01 87.21 30.44 22.36 -9.939 28.45 73.18 96.47 49.03
Net income 1 -31.03 -32.14 -33.66 -14.96 28.56 -17.26 13.65 52.02 10.12 6.01 -18.49 12.2 43.67 61.64 22.4
Net margin -16.16% -14.62% -11.2% -3.52% 5.55% -4.29% 3.62% 10.25% 2.89% 1.76% -11.7% 4.33% 10.19% 12.66% 6.83%
EPS 2 -0.2400 -0.2500 -0.2300 -0.1000 0.1900 -0.1100 0.0900 0.3400 0.0700 0.0400 -0.1121 0.0726 0.2885 0.3928 0.0689
Dividend per Share 2 - - - - - - - - - - - - - - -
Announcement Date 11/11/21 4/5/22 5/10/22 8/9/22 11/8/22 3/21/23 5/9/23 8/8/23 11/7/23 2/27/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - 320 354 636 481 297 355 241
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) - 1.992 x 8.182 x 4.938 x 1.671 x 0.9857 x 0.9321 x 0.6225 x
Free Cash Flow 1 - -124 -267 131 215 132 219 220
ROE (net income / shareholders' equity) - 100% 20% 208% 89.3% 41.2% 38% 34.3%
ROA (Net income/ Total Assets) - 14.2% 0.97% 4.02% 10% 8.43% 12.3% -
Assets 1 - 415.1 -6,812 -1,085 852.4 1,188 1,348 -
Book Value Per Share 2 - -0.6400 1.290 0.8300 1.710 2.070 2.770 4.560
Cash Flow per Share 2 - -1.010 -2.020 0.9400 1.530 1.250 2.190 -
Capex 1 - 1.34 3.36 10.6 17 24.9 25.9 25.7
Capex / Sales - 0.15% 0.39% 0.65% 1.08% 1.84% 1.53% 1.41%
Announcement Date 10/8/20 3/9/21 4/5/22 3/21/23 2/27/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Array Technologies, Inc.

Trading Rating
Investor Rating
ESG Refinitiv
D+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
27
Last Close Price
12.4 USD
Average target price
20.22 USD
Spread / Average Target
+63.06%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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