Array Technologies Inc. Common Stock (ARRY)

FairStock Score: 19/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach Array Technologies as a Graham-style bargain hunter: price is what you pay, value is what you get. The company sells solar tracking hardware in a cyclical industry tied to solar project demand. The record is erratic. In fiscal 2023, the year ended 2023-12-31, net income was $137.2M on $1.6B of revenue. In fiscal 2024, the year ended 2024-12-31, the net loss was $240.4M. In fiscal 2025, the year ended 2025-12-31, the net loss was $52.2M on $1.3B of revenue. Recent quarters are better: in fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $342.1M and net income was $24.3M. Still, the given growth rates are negative, -5.57% revenue and -43.72% profit, so a durable recovery is unproven. Financial health is the rub. D/E is 2.54, Altman Z-Score is 0.59, and ROCE is only 3.33%. Yet trailing free cash flow is $134.7M, a 24.5% FCF yield against the $549.8M market cap, and the Piotroski F-Score is 7/9. At the 2026-10-13 close of $3.57, FairStock's P/E is -3.72, EV/EBITDA is 137.30, and the FairStock Score is 19/100. The shares sit near the 52-week low of $3.53. If recent profit and cash generation persist and debt is managed, the market may be overly pessimistic. If not, the balance sheet and cyclical demand could make today's price a value trap. I would want evidence, not hope.

In plain English: Array Technologies makes equipment that helps solar panels follow the sun. The business has been weak: it lost money in its last two full years, though it made a profit in the latest quarter. At $3.57, the stock is near its lowest price of the past year and looks cheap based on the cash it generates, but weak profits and high debt mean it is not clearly a bargain.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer