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Array Technologies (ARRY) Financials

Array Technologies logo
$7.00 +0.12 (+1.74%)
Closing price 05/27/2025 04:00 PM Eastern
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$7.00 +0.00 (+0.07%)
As of 05/27/2025 06:43 PM Eastern
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Annual Income Statements for Array Technologies

Annual Income Statements for Array Technologies

This table shows Array Technologies' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022
Period end date 12/31/2024 12/31/2023 12/31/2022
Net Income / (Loss) Attributable to Common Shareholders
-296 86 -44
Consolidated Net Income / (Loss)
-240 137 4.43
Net Income / (Loss) Continuing Operations
-240 137 4.43
Total Pre-Tax Income
-251 177 -4.95
Total Operating Income
-227 214 -18
Total Gross Profit
298 416 213
Total Revenue
916 1,577 1,638
Operating Revenue
916 1,577 1,638
Total Cost of Revenue
618 1,161 1,425
Operating Cost of Revenue
618 1,161 1,425
Total Operating Expenses
525 201 231
Selling, General & Admin Expense
161 160 151
Depreciation Expense
36 39 85
Impairment Charge
328 0.00 0.00
Other Special Charges / (Income)
0.13 2.96 -4.51
Total Other Income / (Expense), net
-24 -37 13
Interest Expense
35 44 37
Interest & Investment Income
17 8.33 3.18
Other Income / (Expense), net
-5.52 -1.07 47
Income Tax Expense
-10 40 -9.38
Preferred Stock Dividends Declared
56 52 48
Basic Earnings per Share
($1.95) $0.57 ($0.29)
Weighted Average Basic Shares Outstanding
151.75M 150.94M 149.82M
Diluted Earnings per Share
($1.95) $0.56 ($0.29)
Weighted Average Diluted Shares Outstanding
151.75M 152.02M 149.82M
Weighted Average Basic & Diluted Shares Outstanding
152.01M 151.29M 150.77M

Quarterly Income Statements for Array Technologies

This table shows Array Technologies' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders
2.30 -141 -155 12 -11 6.01 10 52 17 -17 28
Consolidated Net Income / (Loss)
17 -127 -141 26 2.17 19 23 65 30 -5.25 41
Net Income / (Loss) Continuing Operations
17 -127 -141 26 2.17 19 23 65 30 -5.25 41
Total Pre-Tax Income
23 -150 -138 34 3.47 22 30 87 38 8.55 51
Total Operating Income
27 -142 -133 40 8.41 30 40 96 47 16 17
Total Gross Profit
76 78 78 86 55 84 87 146 98 70 77
Total Revenue
302 275 231 256 153 342 350 508 377 402 515
Operating Revenue
302 275 231 256 153 342 350 508 377 402 515
Total Cost of Revenue
226 197 153 170 98 257 263 361 279 332 438
Operating Cost of Revenue
226 197 153 170 98 257 263 361 279 332 438
Total Operating Expenses
49 221 211 46 47 54 47 50 50 53 59
Selling, General & Admin Expense
44 46 40 37 38 44 37 40 38 38 39
Depreciation Expense
5.35 8.70 8.88 8.88 9.63 9.57 9.55 9.21 11 14 21
Other Special Charges / (Income)
-0.15 0.40 -0.04 0.50 -0.74 0.73 0.19 0.71 1.34 1.47 -0.57
Total Other Income / (Expense), net
-4.00 -7.70 -4.83 -6.09 -4.95 -7.87 -9.88 -9.72 -9.50 -7.80 33
Interest Expense
8.04 9.01 8.26 8.61 8.94 8.86 13 12 11 13 8.83
Interest & Investment Income
3.32 4.09 4.22 4.78 3.68 2.21 3.43 1.47 1.23 - 0.78
Other Income / (Expense), net
0.71 -2.79 -0.79 -2.26 0.32 -1.21 -0.24 0.39 0.00 2.70 41
Income Tax Expense
6.53 -23 3.85 7.81 1.30 3.01 7.23 21 8.32 14 10.00
Preferred Stock Dividends Declared
14 14 14 14 14 13 13 13 12 12 12
Basic Earnings per Share
$0.02 ($0.94) ($1.02) $0.08 ($0.07) $0.05 $0.07 $0.34 $0.11 ($0.12) $0.19
Weighted Average Basic Shares Outstanding
152.08M 151.75M 151.92M 151.80M 151.35M 150.94M 151.07M 150.92M 150.61M 149.82M 150.32M
Diluted Earnings per Share
$0.02 ($0.94) ($1.02) $0.08 ($0.07) $0.04 $0.07 $0.34 $0.11 ($0.12) $0.19
Weighted Average Diluted Shares Outstanding
152.78M 151.75M 151.92M 152.21M 151.35M 152.02M 152.32M 152.13M 151.80M 149.82M 151.38M
Weighted Average Basic & Diluted Shares Outstanding
152.55M 152.01M 151.94M 151.93M 151.77M 151.29M 151.22M 151.07M 150.85M 150.77M 150.49M

Annual Cash Flow Statements for Array Technologies

This table details how cash moves in and out of Array Technologies' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022
Period end date 12/31/2024 12/31/2023 12/31/2022
Net Change in Cash & Equivalents
115 115 -234
Net Cash From Operating Activities
154 232 141
Net Cash From Continuing Operating Activities
154 232 141
Net Income / (Loss) Continuing Operations
-240 137 4.43
Consolidated Net Income / (Loss)
-240 137 4.43
Depreciation Expense
38 40 87
Amortization Expense
21 25 21
Non-Cash Adjustments To Reconcile Net Income
346 28 21
Changes in Operating Assets and Liabilities, net
-11 1.61 8.27
Net Cash From Investing Activities
-9.57 -17 -384
Net Cash From Continuing Investing Activities
-9.57 -17 -384
Purchase of Property, Plant & Equipment
-19 -17 -11
Acquisitions
0.00 0.00 -374
Sale of Property, Plant & Equipment
0.03 0.17 0.00
Sale and/or Maturity of Investments
12 0.00 0.00
Other Investing Activities, net
-3.00 0.00 0.00
Net Cash From Financing Activities
-12 -102 8.44
Net Cash From Continuing Financing Activities
-12 -102 8.44
Repayment of Debt
-102 -162 -154
Payment of Dividends
0.00 0.00 -19
Issuance of Debt
93 63 169
Issuance of Common Equity
0.00 -1.51 14
Other Financing Activities, net
-3.18 -1.20 -1.48
Effect of Exchange Rate Changes
-18 1.81 0.74
Cash Interest Paid
39 44 23
Cash Income Taxes Paid
28 46 11

Quarterly Cash Flow Statements for Array Technologies

This table details how cash moves in and out of Array Technologies' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Change in Cash & Equivalents
-15 32 50 -5.30 39 75 18 8.21 14 71 12
Net Cash From Operating Activities
-13 58 45 3.96 48 94 72 21 46 97 105
Net Cash From Continuing Operating Activities
-13 58 45 3.96 48 94 72 21 46 97 105
Net Income / (Loss) Continuing Operations
17 -127 -141 26 2.17 19 23 65 30 -5.25 41
Consolidated Net Income / (Loss)
17 -127 -141 26 2.17 19 23 65 30 -5.25 41
Depreciation Expense
5.93 9.21 9.56 9.33 10 9.95 9.91 9.52 11 22 14
Amortization Expense
5.15 5.08 5.19 5.19 5.19 5.09 7.76 5.81 6.47 5.49 13
Non-Cash Adjustments To Reconcile Net Income
7.03 172 167 3.41 4.28 11 4.51 6.23 5.88 6.90 4.37
Changes in Operating Assets and Liabilities, net
-48 -1.41 4.46 -40 26 49 26 -66 -7.06 68 33
Net Cash From Investing Activities
-2.35 -16 11 -2.10 -2.39 -5.21 -2.19 -5.54 -3.88 -3.93 -2.79
Net Cash From Continuing Investing Activities
-2.35 -16 11 -2.10 -2.39 -5.21 -2.19 -5.54 -3.88 -3.93 -2.79
Purchase of Property, Plant & Equipment
-2.35 -13 -1.08 -2.10 -2.39 -5.37 -2.19 -5.54 -3.88 -3.93 -2.80
Sale of Property, Plant & Equipment
0.00 - - - - - - - - - -
Net Cash From Financing Activities
-1.73 0.40 -8.10 0.43 -4.58 -17 -45 -16 -24 -25 -90
Net Cash From Continuing Financing Activities
-1.73 0.40 -8.10 0.43 -4.58 -17 -45 -16 -24 -25 -90
Repayment of Debt
-8.38 -74 -13 -9.97 -4.85 -20 -82 -32 -28 -4.95 -94
Issuance of Debt
7.86 74 6.34 10 2.28 2.80 37 17 6.47 -19 24
Other Financing Activities, net
-1.20 -0.02 -1.15 - -2.01 - - - -1.20 - -
Effect of Exchange Rate Changes
2.49 -10 2.32 -7.59 -2.00 3.61 -6.26 8.76 -4.32 2.29 -0.71

Annual Balance Sheets for Array Technologies

This table presents Array Technologies' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022
Period end date 12/31/2024 12/31/2023 12/31/2022
Total Assets
1,426 1,707 1,706
Total Current Assets
999 832 831
Cash & Equivalents
363 249 134
Restricted Cash
1.15 0.00 -
Accounts Receivable
276 332 421
Inventories, net
201 162 233
Prepaid Expenses
158 89 39
Plant, Property, & Equipment, net
26 28 23
Total Noncurrent Assets
401 847 852
Goodwill
160 436 416
Intangible Assets
181 354 386
Noncurrent Deferred & Refundable Income Taxes
18 16 16
Other Noncurrent Operating Assets
42 41 33
Total Liabilities & Shareholders' Equity
1,426 1,707 1,706
Total Liabilities
1,137 1,096 1,282
Total Current Liabilities
438 336 465
Short-Term Debt
32 23 40
Accounts Payable
172 119 170
Accrued Expenses
93 73 59
Current Deferred Revenue
120 66 179
Current Deferred & Payable Income Tax Liabilities
5.23 5.75 6.88
Other Current Liabilities
15 48 11
Total Noncurrent Liabilities
699 761 817
Long-Term Debt
647 661 720
Noncurrent Deferred & Payable Income Tax Liabilities
21 67 73
Other Noncurrent Operating Liabilities
31 33 24
Commitments & Contingencies
0.00 0.00 0.00
Redeemable Noncontrolling Interest
407 351 300
Total Equity & Noncontrolling Interests
-118 259 124
Total Preferred & Common Equity
-118 259 124
Preferred Stock
0.00 0.00 0.00
Total Common Equity
-118 259 124
Common Stock
298 345 383
Retained Earnings
-371 -130 -267
Accumulated Other Comprehensive Income / (Loss)
-45 45 8.43

Quarterly Balance Sheets for Array Technologies

This table presents Array Technologies' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q3 2024 Q2 2024 Q1 2024 Q3 2023 Q2 2023 Q1 2023 Q3 2022
Period end date 3/31/2025 9/30/2024 6/30/2024 3/31/2024 9/30/2023 6/30/2023 3/31/2023 9/30/2022
Total Assets
1,426 1,563 1,652 1,629 1,779 1,853 1,794 1,682
Total Current Assets
976 902 849 774 863 908 867 872
Cash & Equivalents
348 332 282 288 174 156 148 63
Restricted Cash
1.17 - - - - - - -
Accounts Receivable
283 282 310 229 428 502 415 485
Inventories, net
187 196 166 179 216 207 255 270
Prepaid Expenses
157 92 91 79 45 43 46 41
Plant, Property, & Equipment, net
29 28 27 27 30 31 26 20
Total Noncurrent Assets
421 633 776 828 886 914 902 790
Goodwill
164 251 403 425 427 441 428 360
Intangible Assets
176 302 308 339 354 376 379 384
Noncurrent Deferred & Refundable Income Taxes
16 16 13 14 0.00 0.00 0.00 19
Other Noncurrent Operating Assets
64 65 52 50 106 97 94 28
Total Liabilities & Shareholders' Equity
1,426 1,563 1,652 1,629 1,779 1,853 1,794 1,682
Total Liabilities
1,102 1,106 1,073 1,033 1,162 1,240 1,275 1,332
Total Current Liabilities
408 375 338 284 401 435 471 513
Short-Term Debt
37 30 31 24 41 39 36 48
Accounts Payable
154 149 112 93 172 189 201 199
Accrued Expenses
80 50 59 37 75 63 60 95
Current Deferred Revenue
120 113 91 87 101 115 151 155
Current Deferred & Payable Income Tax Liabilities
8.73 1.44 3.37 7.03 6.14 17 12 11
Other Current Liabilities
9.13 31 41 36 6.16 13 10 4.98
Total Noncurrent Liabilities
694 731 735 750 762 806 804 819
Long-Term Debt
645 648 652 658 659 702 706 725
Noncurrent Deferred & Payable Income Tax Liabilities
22 55 55 63 70 75 73 74
Other Noncurrent Operating Liabilities
28 28 29 29 33 28 25 20
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest
421 393 379 365 338 325 312 288
Total Equity & Noncontrolling Interests
-98 64 200 231 278 287 207 62
Total Preferred & Common Equity
-98 64 200 231 278 287 207 62
Preferred Stock
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity
-98 64 200 231 278 287 207 62
Common Stock
286 308 321 334 408 418 426 393
Retained Earnings
-354 -244 -102 -128 -153 -177 -241 -258
Accumulated Other Comprehensive Income / (Loss)
-30 -0.29 -18 26 24 46 22 -73

Annual Metrics And Ratios for Array Technologies

This table displays calculated financial ratios and metrics derived from Array Technologies' official financial filings.

Metric 2024 2023 2022
Period end date 12/31/2024 12/31/2023 12/31/2022
Growth Metrics
- - -
Revenue Growth
-41.91% -3.72% 91.90%
EBITDA Growth
-162.37% 104.03% 789.91%
EBIT Growth
-209.14% 645.97% 211.37%
NOPAT Growth
-195.80% 1,406.83% 26.71%
Net Income Growth
-275.16% 2,996.57% 108.79%
EPS Growth
-448.21% 293.10% 43.14%
Operating Cash Flow Growth
-33.62% 63.93% 153.76%
Free Cash Flow Firm Growth
65.81% 131.33% -89.86%
Invested Capital Growth
-42.30% -0.47% 102.85%
Revenue Q/Q Growth
-6.76% -3.69% 12.52%
EBITDA Q/Q Growth
-14,173.10% -1.05% 77.40%
EBIT Q/Q Growth
-298.25% 4.90% 361.93%
NOPAT Q/Q Growth
-316.99% 20.12% 66.72%
Net Income Q/Q Growth
-155.33% 21.83% 136.27%
EPS Q/Q Growth
-101.03% 40.00% 32.56%
Operating Cash Flow Q/Q Growth
-19.12% -1.48% 365.33%
Free Cash Flow Firm Q/Q Growth
-5.85% 204.32% 18.16%
Invested Capital Q/Q Growth
-24.88% -8.46% -0.91%
Profitability Metrics
- - -
Gross Margin
32.50% 26.36% 12.99%
EBITDA Margin
-18.96% 17.66% 8.33%
Operating Margin
-24.79% 13.58% -1.11%
EBIT Margin
-25.39% 13.51% 1.74%
Profit (Net Income) Margin
-26.25% 8.71% 0.27%
Tax Burden Percent
95.94% 77.47% -89.50%
Interest Burden Percent
107.76% 83.15% -17.34%
Effective Tax Rate
0.00% 22.53% 0.00%
Return on Invested Capital (ROIC)
-19.28% 15.83% -1.62%
ROIC Less NNEP Spread (ROIC-NNEP)
-41.04% 10.43% 1.89%
Return on Net Nonoperating Assets (RNNOA)
-34.18% 10.70% 3.12%
Return on Equity (ROE)
-53.46% 26.54% 1.50%
Cash Return on Invested Capital (CROIC)
34.36% 16.30% -69.54%
Operating Return on Assets (OROA)
-14.85% 12.49% 2.01%
Return on Assets (ROA)
-15.35% 8.04% 0.31%
Return on Common Equity (ROCE)
-8.39% 9.84% 0.14%
Return on Equity Simple (ROE_SIMPLE)
203.56% 52.94% 3.57%
Net Operating Profit after Tax (NOPAT)
-159 166 -13
NOPAT Margin
-17.35% 10.52% -0.78%
Net Nonoperating Expense Percent (NNEP)
21.76% 5.40% -3.51%
Return On Investment Capital (ROIC_SIMPLE)
-28.36% 17.59% -1.44%
Cost of Revenue to Revenue
67.50% 73.64% 87.01%
SG&A Expenses to Revenue
17.53% 10.12% 9.21%
R&D to Revenue
0.00% 0.00% 0.00%
Operating Expenses to Revenue
57.29% 12.78% 14.10%
Earnings before Interest and Taxes (EBIT)
-233 213 29
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
-174 278 136
Valuation Ratios
- - -
Price to Book Value (P/BV)
0.00 9.80 23.41
Price to Tangible Book Value (P/TBV)
0.00 0.00 0.00
Price to Revenue (P/Rev)
1.00 1.61 1.78
Price to Earnings (P/E)
0.00 29.70 0.00
Dividend Yield
0.00% 0.00% 0.00%
Earnings Yield
0.00% 3.37% 0.00%
Enterprise Value to Invested Capital (EV/IC)
2.72 3.18 3.65
Enterprise Value to Revenue (EV/Rev)
1.79 2.11 2.34
Enterprise Value to EBITDA (EV/EBITDA)
0.00 11.95 28.10
Enterprise Value to EBIT (EV/EBIT)
0.00 15.61 134.27
Enterprise Value to NOPAT (EV/NOPAT)
0.00 20.05 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)
10.64 14.34 27.10
Enterprise Value to Free Cash Flow (EV/FCFF)
5.79 19.48 0.00
Leverage & Solvency
- - -
Debt to Equity
2.35 1.12 1.79
Long-Term Debt to Equity
2.24 1.08 1.70
Financial Leverage
0.83 1.03 1.65
Leverage Ratio
3.48 3.30 4.81
Compound Leverage Factor
3.75 2.74 -0.83
Debt to Total Capital
70.14% 52.83% 64.20%
Short-Term Debt to Total Capital
3.30% 1.77% 3.37%
Long-Term Debt to Total Capital
66.84% 51.06% 60.84%
Preferred Equity to Total Capital
0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
42.07% 27.14% 25.30%
Common Equity to Total Capital
-12.21% 20.03% 10.50%
Debt to EBITDA
-3.91 2.46 5.57
Net Debt to EBITDA
-1.81 1.56 4.59
Long-Term Debt to EBITDA
-3.72 2.37 5.28
Debt to NOPAT
-4.27 4.12 -59.89
Net Debt to NOPAT
-1.98 2.62 -49.35
Long-Term Debt to NOPAT
-4.07 3.98 -56.75
Altman Z-Score
0.70 2.97 2.41
Noncontrolling Interest Sharing Ratio
84.31% 62.92% 90.70%
Liquidity Ratios
- - -
Current Ratio
2.28 2.48 1.79
Quick Ratio
1.46 1.73 1.19
Cash Flow Metrics
- - -
Free Cash Flow to Firm (FCFF)
283 171 -545
Operating Cash Flow to CapEx
830.22% 1,378.96% 1,332.45%
Free Cash Flow to Firm to Interest Expense
8.13 3.86 -14.86
Operating Cash Flow to Interest Expense
4.42 5.24 3.86
Operating Cash Flow Less CapEx to Interest Expense
3.89 4.86 3.57
Efficiency Ratios
- - -
Asset Turnover
0.58 0.92 1.15
Accounts Receivable Turnover
3.01 4.19 4.98
Inventory Turnover
3.41 5.88 6.49
Fixed Asset Turnover
33.85 61.74 96.71
Accounts Payable Turnover
4.24 8.01 10.86
Days Sales Outstanding (DSO)
121.16 87.21 73.24
Days Inventory Outstanding (DIO)
107.11 62.11 56.21
Days Payable Outstanding (DPO)
86.17 45.57 33.61
Cash Conversion Cycle (CCC)
142.10 103.74 95.83
Capital & Investment Metrics
- - -
Invested Capital
603 1,045 1,050
Invested Capital Turnover
1.11 1.50 2.09
Increase / (Decrease) in Invested Capital
-442 -4.92 532
Enterprise Value (EV)
1,639 3,326 3,835
Market Capitalization
918 2,540 2,909
Book Value per Share
($0.78) $1.71 $0.83
Tangible Book Value per Share
($3.03) ($3.51) ($4.51)
Total Capital
967 1,294 1,184
Total Debt
678 684 760
Total Long-Term Debt
647 661 720
Net Debt
314 435 626
Capital Expenditures (CapEx)
19 17 11
Debt-free, Cash-free Net Working Capital (DFCFNWC)
229 270 272
Debt-free Net Working Capital (DFNWC)
593 519 406
Net Working Capital (NWC)
561 497 366
Net Nonoperating Expense (NNE)
81 29 -17
Net Nonoperating Obligations (NNO)
314 435 626
Total Depreciation and Amortization (D&A)
59 65 108
Debt-free, Cash-free Net Working Capital to Revenue
24.97% 17.15% 16.61%
Debt-free Net Working Capital to Revenue
64.73% 32.95% 24.78%
Net Working Capital to Revenue
61.25% 31.50% 22.35%
Earnings Adjustments
- - -
Adjusted Basic Earnings per Share
($1.95) $0.57 $0.00
Adjusted Weighted Average Basic Shares Outstanding
151.75M 150.94M 0.00
Adjusted Diluted Earnings per Share
($1.95) $0.56 $0.00
Adjusted Weighted Average Diluted Shares Outstanding
151.75M 152.02M 0.00
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
152.01M 151.29M 0.00
Normalized Net Operating Profit after Tax (NOPAT)
71 168 -16
Normalized NOPAT Margin
7.72% 10.67% -0.97%
Pre Tax Income Margin
-27.36% 11.24% -0.30%
Debt Service Ratios
- - -
EBIT to Interest Expense
-6.68 4.82 0.78
NOPAT to Interest Expense
-4.56 3.75 -0.35
EBIT Less CapEx to Interest Expense
-7.21 4.44 0.49
NOPAT Less CapEx to Interest Expense
-5.10 3.37 -0.64
Payout Ratios
- - -
Dividend Payout Ratio
0.00% 0.00% 421.25%
Augmented Payout Ratio
0.00% 0.00% 421.25%

Quarterly Metrics And Ratios for Array Technologies

This table displays calculated financial ratios and metrics derived from Array Technologies' official financial filings.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Growth Metrics
- - - - - - - - - - -
Revenue Growth
97.10% -19.43% -33.97% -49.63% -59.29% -15.04% -31.96% 20.93% 25.35% 82.86% 172.95%
EBITDA Growth
62.49% -397.10% -305.98% -53.68% -62.90% -6.29% -32.65% 808.45% 869.80% 474.66% 1,887.22%
EBIT Growth
220.72% -600.36% -433.94% -61.36% -81.61% 52.30% -31.91% 725.86% 240.67% 193.27% 396.23%
NOPAT Growth
273.75% -481.09% -403.29% -58.10% -85.83% 360.35% 121.89% 876.75% 238.04% 28.31% 201.02%
Net Income Growth
673.49% -756.10% -711.98% -60.56% -92.69% 468.35% -43.17% 1,397.07% 214.26% 76.02% 247.47%
EPS Growth
128.57% -2,450.00% -1,557.14% -76.47% -163.64% 133.33% -63.16% 409.09% 144.00% 53.85% 176.00%
Operating Cash Flow Growth
-127.49% -38.73% -37.26% -80.74% 3.68% -3.58% -31.65% 292.56% 191.45% 200.12% 430.27%
Free Cash Flow Firm Growth
175.97% 1,002.41% 579.11% 833.91% 41.85% 105.73% 91.64% 103.57% 110.32% -91.15% -695.92%
Invested Capital Growth
-33.81% -42.30% -29.68% -18.30% -11.06% -0.47% 7.73% 3.97% -4.58% 102.85% 145.43%
Revenue Q/Q Growth
9.86% 18.94% -9.52% 66.73% -55.09% -2.52% -30.98% 34.76% -6.29% -21.93% 22.66%
EBITDA Q/Q Growth
129.86% -10.23% -328.92% 115.67% -45.26% -23.58% -48.52% 72.73% 37.91% -45.07% 594.35%
EBIT Q/Q Growth
119.29% -8.74% -457.43% 327.77% -69.79% -27.42% -58.64% 103.60% 149.19% -67.55% 480.16%
NOPAT Q/Q Growth
119.70% -7.29% -405.79% 478.38% -79.90% -14.61% -57.76% 95.64% 468.93% -172.78% 247.87%
Net Income Q/Q Growth
113.20% 10.22% -650.06% 1,086.97% -88.74% -16.26% -64.55% 119.89% 664.37% -112.92% 909.00%
EPS Q/Q Growth
102.13% 7.84% -1,375.00% 214.29% -275.00% -42.86% -79.41% 209.09% 191.67% -163.16% 272.73%
Operating Cash Flow Q/Q Growth
-122.68% 28.15% 1,035.58% -91.67% -49.46% 31.23% 248.68% -55.17% -52.99% -6.98% 1,082.35%
Free Cash Flow Firm Q/Q Growth
3.50% 39.20% -1.45% 94.35% 313.74% 160.50% -292.11% -70.48% 116.69% 11.67% 17.86%
Invested Capital Q/Q Growth
8.70% -24.88% -17.97% -1.18% -5.24% -8.46% -4.69% 7.58% 6.04% -0.91% -8.02%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
25.28% 28.46% 33.84% 33.61% 35.91% 24.66% 24.93% 28.83% 25.89% 17.31% 14.87%
EBITDA Margin
12.92% -47.54% -51.30% 20.28% 15.68% 12.89% 16.45% 22.05% 17.20% 11.69% 16.62%
Operating Margin
9.02% -51.72% -57.33% 15.48% 5.48% 8.85% 11.47% 18.96% 12.60% 4.07% 3.34%
EBIT Margin
9.26% -52.73% -57.67% 14.60% 5.69% 8.49% 11.40% 19.03% 12.60% 4.74% 11.40%
Profit (Net Income) Margin
5.54% -46.11% -61.08% 10.05% 1.41% 5.66% 6.59% 12.83% 7.87% -1.31% 7.89%
Tax Burden Percent
71.93% 84.57% 102.80% 76.69% 62.41% 86.52% 76.16% 75.32% 78.07% -61.43% 80.26%
Interest Burden Percent
83.15% 103.39% 103.03% 89.74% 39.74% 77.07% 75.88% 89.54% 79.98% 44.88% 86.28%
Effective Tax Rate
28.07% 0.00% 0.00% 23.31% 37.59% 13.48% 23.84% 24.68% 21.93% 161.43% 19.74%
Return on Invested Capital (ROIC)
8.40% -40.23% -40.54% 12.01% 4.40% 11.52% 12.99% 21.89% 14.78% -5.22% 5.23%
ROIC Less NNEP Spread (ROIC-NNEP)
7.60% -47.50% -51.67% 11.07% 3.78% 10.23% 11.78% 20.83% 13.70% -4.24% 11.20%
Return on Net Nonoperating Assets (RNNOA)
6.01% -39.57% -41.94% 9.16% 3.35% 10.50% 15.07% 29.63% 20.65% -6.98% 17.02%
Return on Equity (ROE)
14.41% -79.79% -82.48% 21.18% 7.75% 22.02% 28.06% 51.52% 35.43% -12.20% 22.25%
Cash Return on Invested Capital (CROIC)
22.98% 34.36% 30.93% 28.68% 24.51% 16.30% 5.10% 6.80% 9.52% -69.54% -89.32%
Operating Return on Assets (OROA)
6.45% -30.83% -33.90% 9.18% 4.50% 7.84% 10.79% 18.93% 12.30% 5.45% 13.49%
Return on Assets (ROA)
3.86% -26.96% -35.91% 6.31% 1.12% 5.23% 6.24% 12.76% 7.68% -1.50% 9.34%
Return on Common Equity (ROCE)
2.09% -12.52% -26.35% 8.67% 3.05% 8.16% 9.89% 18.66% 12.30% -1.13% 2.60%
Return on Equity Simple (ROE_SIMPLE)
230.95% 0.00% -146.00% 35.16% 47.47% 0.00% 40.45% 45.29% 28.94% 0.00% -19.76%
Net Operating Profit after Tax (NOPAT)
20 -100 -93 30 5.25 26 31 72 37 -10 14
NOPAT Margin
6.49% -36.20% -40.13% 11.87% 3.42% 7.65% 8.74% 14.28% 9.83% -2.50% 2.68%
Net Nonoperating Expense Percent (NNEP)
0.79% 7.28% 11.13% 0.95% 0.62% 1.28% 1.22% 1.06% 1.08% -0.98% -5.97%
Return On Investment Capital (ROIC_SIMPLE)
3.36% -17.78% - - - 2.77% - - - -1.14% -
Cost of Revenue to Revenue
74.72% 71.54% 66.16% 66.39% 64.09% 75.34% 75.07% 71.17% 74.11% 82.69% 85.13%
SG&A Expenses to Revenue
14.53% 16.59% 17.35% 14.46% 24.63% 12.80% 10.68% 7.93% 10.12% 9.38% 7.51%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
16.25% 80.17% 91.18% 18.12% 30.43% 15.81% 13.46% 9.88% 13.29% 13.24% 11.53%
Earnings before Interest and Taxes (EBIT)
28 -145 -133 37 8.73 29 40 97 47 19 59
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
39 -131 -119 52 24 44 58 112 65 47 86
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
0.00 0.00 15.55 7.79 9.75 9.80 12.04 11.86 15.91 23.41 40.32
Price to Tangible Book Value (P/TBV)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)
0.70 1.00 1.02 1.41 1.67 1.61 2.05 1.89 1.92 1.78 1.71
Price to Earnings (P/E)
0.00 0.00 0.00 93.64 39.51 29.70 53.83 42.27 297.94 0.00 0.00
Dividend Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield
0.00% 0.00% 0.00% 1.07% 2.53% 3.37% 1.86% 2.37% 0.34% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)
2.28 2.72 2.17 2.39 3.04 3.18 3.69 3.61 3.78 3.65 3.29
Enterprise Value to Revenue (EV/Rev)
1.40 1.79 1.77 2.12 2.23 2.11 2.58 2.40 2.45 2.34 2.40
Enterprise Value to EBITDA (EV/EBITDA)
0.00 0.00 1,411.01 13.15 12.68 11.95 14.98 13.96 20.05 28.10 45.37
Enterprise Value to EBIT (EV/EBIT)
0.00 0.00 0.00 20.31 17.29 15.61 20.76 19.47 38.31 134.27 0.00
Enterprise Value to NOPAT (EV/NOPAT)
0.00 0.00 0.00 25.15 22.37 20.05 30.53 34.38 76.31 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)
15.99 10.64 9.15 10.76 12.90 14.34 17.91 16.08 17.71 27.10 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)
7.90 5.79 5.79 7.48 11.69 19.48 75.11 54.08 38.72 0.00 0.00
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
2.11 2.35 1.48 1.18 1.14 1.12 1.13 1.21 1.43 1.79 2.21
Long-Term Debt to Equity
1.99 2.24 1.42 1.13 1.10 1.08 1.07 1.15 1.36 1.70 2.08
Financial Leverage
0.79 0.83 0.81 0.83 0.89 1.03 1.28 1.42 1.51 1.65 1.52
Leverage Ratio
3.32 3.48 3.11 2.94 3.07 3.30 3.58 3.73 3.86 4.81 4.15
Compound Leverage Factor
2.76 3.60 3.21 2.64 1.22 2.54 2.72 3.34 3.09 2.16 3.58
Debt to Total Capital
67.80% 70.14% 59.74% 54.13% 53.37% 52.83% 53.16% 54.78% 58.82% 64.20% 68.87%
Short-Term Debt to Total Capital
3.68% 3.30% 2.64% 2.47% 1.91% 1.77% 3.08% 2.90% 2.87% 3.37% 4.25%
Long-Term Debt to Total Capital
64.12% 66.84% 57.10% 51.66% 51.46% 51.06% 50.07% 51.88% 55.96% 60.84% 64.62%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
41.92% 42.07% 34.58% 30.01% 28.54% 27.14% 25.68% 23.99% 24.74% 25.30% 25.63%
Common Equity to Total Capital
-9.73% -12.21% 5.68% 15.86% 18.09% 20.03% 21.16% 21.23% 16.44% 10.50% 5.51%
Debt to EBITDA
-4.30 -3.91 549.63 3.84 2.87 2.46 2.49 2.40 3.54 5.57 10.05
Net Debt to EBITDA
-2.09 -1.81 280.29 2.25 1.66 1.56 1.87 1.89 2.83 4.59 9.23
Long-Term Debt to EBITDA
-4.06 -3.72 525.38 3.67 2.77 2.37 2.34 2.27 3.37 5.28 9.43
Debt to NOPAT
-4.68 -4.27 -17.80 7.35 5.06 4.12 5.07 5.90 13.47 -59.89 -20.26
Net Debt to NOPAT
-2.28 -1.98 -9.08 4.31 2.93 2.62 3.81 4.66 10.78 -49.35 -18.61
Long-Term Debt to NOPAT
-4.42 -4.07 -17.01 7.02 4.88 3.98 4.77 5.59 12.81 -56.75 -19.01
Altman Z-Score
1.35 0.90 1.08 1.90 2.41 2.61 2.92 2.97 2.67 2.40 2.14
Noncontrolling Interest Sharing Ratio
85.49% 84.31% 68.05% 59.07% 60.68% 62.92% 64.77% 63.79% 65.29% 90.70% 88.33%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
2.39 2.28 2.41 2.51 2.73 2.48 2.16 2.09 1.84 1.79 1.70
Quick Ratio
1.54 1.46 1.64 1.75 1.82 1.73 1.50 1.51 1.20 1.19 1.07
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
354 342 246 250 128 31 -51 27 91 -543 -614
Operating Cash Flow to CapEx
-555.23% 442.46% 4,168.37% 188.25% 1,990.86% 1,748.81% 3,268.74% 370.69% 1,179.91% 2,480.78% 3,749.09%
Free Cash Flow to Firm to Interest Expense
44.11 38.02 29.77 28.98 14.37 3.51 -3.93 2.31 8.44 -42.06 -69.55
Operating Cash Flow to Interest Expense
-1.63 6.39 5.44 0.46 5.31 10.61 5.48 1.77 4.27 7.56 11.87
Operating Cash Flow Less CapEx to Interest Expense
-1.92 4.95 5.31 0.22 5.05 10.00 5.31 1.30 3.91 7.25 11.55
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.70 0.58 0.59 0.63 0.79 0.92 0.95 0.99 0.98 1.15 1.18
Accounts Receivable Turnover
4.16 3.01 2.77 2.71 4.20 4.19 3.59 3.77 4.25 4.98 4.39
Inventory Turnover
4.08 3.41 3.30 4.23 4.52 5.88 5.09 5.26 5.17 6.49 5.94
Fixed Asset Turnover
38.42 33.85 34.37 38.40 51.50 61.74 66.08 74.33 80.19 96.71 96.30
Accounts Payable Turnover
6.03 4.24 4.23 5.24 6.67 8.01 6.66 6.71 7.36 10.86 9.25
Days Sales Outstanding (DSO)
87.72 121.16 131.88 134.58 86.85 87.21 101.77 96.76 85.79 73.24 83.09
Days Inventory Outstanding (DIO)
89.46 107.11 110.72 86.21 80.69 62.11 71.72 69.41 70.65 56.21 61.40
Days Payable Outstanding (DPO)
60.49 86.17 86.31 69.69 54.74 45.57 54.79 54.36 49.58 33.61 39.46
Cash Conversion Cycle (CCC)
116.69 142.10 156.30 151.10 112.79 103.74 118.70 111.81 106.86 95.83 105.03
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
656 603 803 979 990 1,045 1,142 1,198 1,114 1,050 1,060
Invested Capital Turnover
1.29 1.11 1.01 1.01 1.29 1.50 1.49 1.53 1.50 2.09 1.95
Increase / (Decrease) in Invested Capital
-335 -442 -339 -219 -123 -4.92 82 46 -53 532 628
Enterprise Value (EV)
1,494 1,639 1,741 2,336 3,014 3,326 4,216 4,320 4,205 3,835 3,490
Market Capitalization
740 918 1,003 1,557 2,255 2,540 3,352 3,409 3,299 2,909 2,492
Book Value per Share
($0.64) ($0.78) $0.42 $1.32 $1.53 $1.71 $1.84 $1.91 $1.38 $0.83 $0.41
Tangible Book Value per Share
($2.88) ($3.03) ($3.21) ($3.36) ($3.52) ($3.51) ($3.32) ($3.51) ($3.98) ($4.51) ($4.54)
Total Capital
1,005 967 1,135 1,261 1,278 1,294 1,316 1,354 1,261 1,184 1,122
Total Debt
682 678 678 683 682 684 699 742 742 760 773
Total Long-Term Debt
645 647 648 652 658 661 659 702 706 720 725
Net Debt
332 314 346 400 394 435 525 586 594 626 710
Capital Expenditures (CapEx)
2.35 13 1.08 2.10 2.39 5.37 2.19 5.54 3.88 3.93 2.80
Debt-free, Cash-free Net Working Capital (DFCFNWC)
255 229 225 260 228 270 329 357 284 272 344
Debt-free Net Working Capital (DFNWC)
605 593 557 542 515 519 503 513 432 406 406
Net Working Capital (NWC)
568 561 527 511 491 497 463 473 396 366 359
Net Nonoperating Expense (NNE)
2.88 27 48 4.67 3.09 6.80 7.52 7.32 7.42 -4.79 -27
Net Nonoperating Obligations (NNO)
332 314 346 400 394 435 525 586 594 626 710
Total Depreciation and Amortization (D&A)
11 14 15 15 15 15 18 15 17 28 27
Debt-free, Cash-free Net Working Capital to Revenue
23.98% 24.97% 22.90% 23.63% 16.81% 17.15% 20.11% 19.79% 16.60% 16.61% 23.61%
Debt-free Net Working Capital to Revenue
56.80% 64.73% 56.74% 49.26% 38.07% 32.95% 30.74% 28.45% 25.22% 24.78% 27.92%
Net Working Capital to Revenue
53.33% 61.25% 53.70% 46.44% 36.27% 31.50% 28.26% 26.27% 23.11% 22.35% 24.65%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$0.02 ($0.94) ($1.02) $0.08 ($0.07) $0.05 $0.07 $0.34 $0.09 ($0.12) $0.19
Adjusted Weighted Average Basic Shares Outstanding
152.08M 151.75M 151.92M 151.80M 151.35M 150.94M 151.07M 150.92M 150.61M 149.82M 150.32M
Adjusted Diluted Earnings per Share
$0.02 ($0.94) ($1.02) $0.08 ($0.07) $0.04 $0.07 $0.34 $0.09 ($0.12) $0.19
Adjusted Weighted Average Diluted Shares Outstanding
152.78M 151.75M 151.92M 152.21M 151.35M 152.02M 152.32M 152.13M 151.80M 149.82M 151.38M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
152.55M 152.01M 151.94M 151.93M 151.77M 151.29M 151.22M 151.07M 150.85M 150.77M 150.49M
Normalized Net Operating Profit after Tax (NOPAT)
20 -99 21 31 4.79 27 31 73 38 12 13
Normalized NOPAT Margin
6.46% -36.10% 8.86% 12.03% 3.12% 7.84% 8.78% 14.38% 10.11% 3.10% 2.59%
Pre Tax Income Margin
7.70% -54.52% -59.42% 13.10% 2.26% 6.54% 8.65% 17.04% 10.07% 2.13% 9.83%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
3.48 -16.11 -16.15 4.33 0.98 3.27 3.06 8.35 4.42 1.48 6.65
NOPAT to Interest Expense
2.44 -11.06 -11.24 3.53 0.59 2.95 2.34 6.26 3.45 -0.78 1.56
EBIT Less CapEx to Interest Expense
3.19 -17.56 -16.28 4.09 0.71 2.67 2.89 7.87 4.06 1.17 6.33
NOPAT Less CapEx to Interest Expense
2.15 -12.51 -11.37 3.28 0.32 2.35 2.18 5.78 3.09 -1.08 1.25
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 421.25% -218.70%
Augmented Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 421.25% -218.70%

Frequently Asked Questions About Array Technologies' Financials

When does Array Technologies's financial year end?

According to the most recent income statement we have on file, Array Technologies' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Array Technologies' net income changed over the last 2 years?

Array Technologies' net income appears to be on an upward trend, with a most recent value of -$240.39 million in 2024, falling from $4.43 million in 2022. The previous period was $137.24 million in 2023. See where experts think Array Technologies is headed by visiting Array Technologies' forecast page.

What is Array Technologies's operating income?
Array Technologies's total operating income in 2024 was -$227.01 million, based on the following breakdown:
  • Total Gross Profit: $297.68 million
  • Total Operating Expenses: $524.68 million
How has Array Technologies revenue changed over the last 2 years?

Over the last 2 years, Array Technologies' total revenue changed from $1.64 billion in 2022 to $915.81 million in 2024, a change of -44.1%.

How much debt does Array Technologies have?

Array Technologies' total liabilities were at $1.14 billion at the end of 2024, a 3.7% increase from 2023, and a 11.3% decrease since 2022.

How much cash does Array Technologies have?

In the past 2 years, Array Technologies' cash and equivalents has ranged from $133.90 million in 2022 to $362.99 million in 2024, and is currently $362.99 million as of their latest financial filing in 2024.

How has Array Technologies' book value per share changed over the last 2 years?

Over the last 2 years, Array Technologies' book value per share changed from 0.83 in 2022 to -0.78 in 2024, a change of -194.1%.



This page (NASDAQ:ARRY) was last updated on 5/28/2025 by MarketBeat.com Staff
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