What is Array Digital's earnings per share (EPS)?

Array Digital (AD) reported diluted earnings per share of $0.56 for fiscal year 2025. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Array Digital (AD) Financials

FY2025 annual

Revenue $163.0M -95.6% YoY

Net Income $69.2M +319.1% YoY

EPS (Diluted) $0.56 YoY not available

Free Cash Flow $173.6M -79.9% YoY

Market Cap $3.3B as of Sep 10, 2026

Price / Sales 20.4x on $163.0M revenue, FY2025

Price / Earnings 48.0x on $69.2M net income, FY2025

Price / Book 2.6x on $1.3B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 7, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 7, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the AD SEC filings page.

Array Digital (AD) reported $163.0M in revenue for fiscal year 2025, down 95.6% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI AD FY2025 2026-08-29

Balance-sheet contraction cut debt to $670M, while current liabilities exceeded current assets, weakening short-term liquidity.

Cash generation diverges from reported earnings: in FY2024, operating cash flow was $882M despite a -$32M net loss, and FY2025 still produced $201M against $69M of net income. Because free cash flow stayed close to operating cash flow—$864M and $174M respectively—capital spending was not the main constraint; noncash items, working-capital movements, or other cash-flow adjustments are carrying more weight than headline profit.

The FY2025 revenue base of $163M is far below FY2024’s $3.7B, while assets also fell from $10.4B to $4.7B. That scale shift makes revenue-based margins less useful than examining how the remaining assets and liabilities are financed.

Solvency and liquidity point in different directions: debt-to-equity remained near 0.3x, but the current ratio fell from 1.5x in FY2024 to 0.7x in FY2025. The balance sheet therefore shows materially lower long-term debt alongside a tighter ability to match near-term obligations with current assets.

Financial Health Signals

Financial Health Score 36/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Array Digital's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Array Digital has an operating margin of -56.8%, meaning the company loses $57 on every $100 of revenue. This results in a profitability score of 11/100. This is down from -7.1% the prior year.

Growth

Array Digital's revenue declined 95.6% year-over-year, from $3.7B to $163.0M. This contraction results in a growth score of 1/100.

Leverage

Array Digital carries a low D/E ratio of 0.26, meaning only $0.26 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 72/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Array Digital's current ratio of 0.72 is below the typical benchmark, resulting in a score of 9/100. However, the company holds substantial cash reserves (57% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.

Cash Flow

Array Digital's reported free cash flow margin for fiscal year 2025 is above the highest share of revenue this page publishes, so the figure is not shown here. This dimension scores 99/100.

Returns

Array Digital generates a 2.7% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 24/100. This is up from -0.7% the prior year.

Altman Z-Score Distress

1.13

Array Digital scores 1.13, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($3.3B) relative to total liabilities ($2.1B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral

4/9

Array Digital passes 4 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Cash-Backed

2.90x

For every $1 of reported earnings, Array Digital generates $2.90 in operating cash flow ($200.8M OCF vs $69.2M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage At Risk

N/A

Array Digital reported an operating loss of $92.5M against $28.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

Revenue

$54.1M

YoY-93.9%

QoQ+4.0%

Array Digital generated $54.1M in revenue in Q2 2026. This represents a decrease of 93.9% from the same quarter a year earlier. Against the prior quarter it is up 4.0%.

EBITDA

$413.7M

YoY+6782.1%

QoQ+138.6%

Array Digital's EBITDA was $413.7M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 6782.1% from the same quarter a year earlier. Against the prior quarter it is up 138.6%.

Net Income

$358.7M

YoY+1038.9%

QoQ+101.7%

Array Digital reported $358.7M in net income in Q2 2026. This represents an increase of 1038.9% from the same quarter a year earlier. Against the prior quarter it is up 101.7%.

EPS (Diluted)

$4.15

YoY+1052.8%

QoQ+101.5%

5Y CAGR+60.5%

10Y CAGR+29.2%

Array Digital earned $4.15 per diluted share (EPS) in Q2 2026. This represents an increase of 1052.8% from the same quarter a year earlier. Against the prior quarter it is up 101.5%.

Cash & Balance Sheet

Free Cash Flow

-$48.6M

YoY-115.1%

QoQ-586.0%

Array Digital recorded an outflow of $48.6M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 115.1% from the same quarter a year earlier. Against the prior quarter it is down 586.0%.

Cash & Debt

$416.4M

YoY+7.9%

QoQ+64.2%

5Y CAGR+9.3%

10Y CAGR-3.9%

Array Digital held $416.4M in cash against $666.8M in long-term debt as of Q2 2026.

Dividends Per Share

$11.00

QoQ+7.3%

Array Digital paid $11.00 per share in dividends in Q2 2026. Against the prior quarter it is up 7.3%.

Shares Outstanding

86M

YoY+0.6%

QoQ0.0%

5Y CAGR-0.1%

10Y CAGR+0.2%

Array Digital had 86M shares outstanding in Q2 2026. This represents an increase of 0.6% from the same quarter a year earlier. It is unchanged from the prior quarter.

Margins & Returns

Gross Margin

56.5%

YoY-41.3pp

QoQ-1.9pp

Array Digital's gross margin was 56.5% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 41.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.9 percentage points.

Return on Equity

28.3%

YoY+27.7pp

QoQ+18.8pp

Array Digital's ROE was 28.3% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 27.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 18.8 percentage points.

Operating Margin

Not shown for Q2 2026: the reported ratio is above 100.0% of revenue, so it does not read as a share of revenue.

Net Margin

Not shown for Q2 2026: the reported ratio is above 100.0% of revenue, so it does not read as a share of revenue.

Capital Allocation

Share Buybacks

Array Digital repurchased no shares in Q2 2026.

Capital Expenditures

$5.8M

YoY+47.0%

QoQ-58.0%

5Y CAGR-47.7%

10Y CAGR-22.5%

Array Digital invested $5.8M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 47.0% from the same quarter a year earlier. Against the prior quarter it is down 58.0%.

R&D Spending

Not reported for Q2 2026.

AD Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AD quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	N/A	$163.0M-95.6%	$3.7B-3.6%	$3.8B-8.7%	$4.2B+1.1%	$4.1B+2.1%	$4.0B+0.4%	$4.0B+1.4%	$4.0B+2.0%	$3.9B-2.5%	$4.0B-1.0%	$4.0B+3.3%	$3.9B-0.4%	$3.9B-12.0%	$4.5B+2.5%	$4.3B
Cost of Revenue	N/A	$79.5M+8.9%	$73.0M+7.5%	$67.9M	N/A	N/A	N/A	N/A	N/A	$1.1B-0.9%	$1.1B+2.7%	$1.1B-11.7%	$1.2B+19.4%	$999.0M+6.7%	$935.9M+18.2%	$791.8M
Gross Profit	N/A	$83.5M-97.7%	$3.6B-3.8%	$3.7B	N/A	N/A	N/A	N/A	N/A	$2.8B-3.1%	$2.9B-2.3%	$3.0B+9.9%	$2.7B-7.2%	$2.9B-17.0%	$3.5B-1.0%	$3.6B
SG&A Expenses	N/A	$84.4M-17.7%	$102.6M+1.1%	$101.4M-92.8%	$1.4B+4.7%	$1.3B-1.7%	$1.4B-2.7%	$1.4B+1.3%	$1.4B-1.7%	$1.4B-4.6%	$1.5B-0.9%	$1.5B-6.2%	$1.6B-5.1%	$1.7B-5.0%	$1.8B-0.3%	$1.8B
Operating Income	N/A	-$92.5M+64.5%	-$260.3M-132.0%	-$112.2M-262.6%	$69.0M-59.4%	$170.0M-1.7%	$173.0M+54.5%	$112.0M-29.1%	$158.0M+152.0%	-$304.0M-733.3%	$48.0M-86.2%	$347.0M+359.0%	-$134.0M-191.2%	$146.9M-6.3%	$156.7M-44.2%	$280.8M
EBITDA	N/A	-$53.4M+75.9%	-$221.5M-214.1%	-$70.5M-109.4%	$751.0M-9.7%	$832.0M-1.2%	$842.0M+5.1%	$801.0M+2.0%	$785.0M+161.7%	$300.0M-54.2%	$655.0M-30.5%	$943.0M+105.4%	$459.0M-51.1%	$938.0M+24.3%	$754.4M-10.8%	$845.9M
Interest Expense	N/A	$28.2M+127.5%	$12.4M-15.1%	$14.6M-91.0%	$163.0M-6.9%	$175.0M+56.3%	$112.0M+1.8%	$110.0M-5.2%	$116.0M+2.7%	$113.0M0.0%	$113.0M+31.4%	$86.0M+50.9%	$57.0M+29.7%	$44.0M+3.7%	$42.4M-35.4%	$65.6M
Income Tax	N/A	-$31.1M-61.8%	-$19.3M-158.6%	$32.9M-11.2%	$37.0M+85.0%	$20.0M+17.6%	$17.0M-67.3%	$52.0M+2.0%	$51.0M+117.8%	-$287.0M-969.7%	$33.0M-79.0%	$157.0M+1408.3%	-$12.0M-110.6%	$113.1M+76.8%	$64.0M-43.9%	$114.1M
Net Income	N/A	$69.2M+319.1%	-$31.6M-154.5%	$57.9M+66.6%	$34.8M-78.2%	$159.8M-30.2%	$229.0M+80.3%	$127.0M-15.3%	$150.0M+1150.0%	$12.0M-75.0%	$48.0M-80.1%	$241.0M+660.5%	-$43.0M-130.7%	$140.0M+26.2%	$111.0M-36.6%	$175.0M
EPS (Basic)	N/A	$0.57+223.9%	-$0.46-171.9%	$0.64+82.9%	$0.35-80.6%	$1.80-32.3%	$2.66+81.0%	$1.47-16.0%	$1.75+1150.0%	$0.14-75.0%	$0.56-80.4%	$2.86+660.8%	-$0.51-130.5%	$1.67+27.5%	$1.31-36.4%	$2.06
EPS (Diluted)	$6.20	$0.56	-$0.46-173.0%	$0.63+80.0%	$0.35-80.2%	$1.77-32.4%	$2.62+81.9%	$1.44-16.3%	$1.72+1128.6%	$0.14-75.0%	$0.56-80.3%	$2.84+656.9%	-$0.51-130.9%	$1.65+26.9%	$1.30-36.6%	$2.05
Diluted Shares (Avg)	N/A	87M	86M-1.3%	87M+0.9%	86M-1.1%	87M0.0%	87M-1.1%	88M+1.1%	87M+1.2%	86M+1.2%	85M0.0%	85M+1.2%	84M-0.9%	85M-0.6%	85M-0.3%	85M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$54.1M-93.9%	$52.0M-94.0%	N/A	$47.1M-94.7%	$888.0M-4.2%	$864.0M-9.1%	$894.0M-0.6%	$896.0M-7.0%
Cost of Revenue	$23.5M+21.1%	$21.6M+32.7%	N/A	$21.0M+14.9%	$19.4M	$16.3M	N/A	$18.3M
Gross Profit	$30.6M-96.5%	$30.4M-96.4%	N/A	$26.1M-97.0%	$868.6M	$847.7M	N/A	$877.7M
SG&A Expenses	$22.9M+18.5%	$12.7M-56.4%	N/A	$20.5M-3.1%	$19.3M-94.0%	$29.2M-91.2%	-$571.6M+37.7%	$21.2M-93.6%
Operating Income	$399.3M+2295.0%	$160.8M+642.7%	N/A	-$53.3M+66.7%	-$18.2M-150.5%	-$29.6M-158.1%	-$187.2M+18.3%	-$160.2M-381.0%
EBITDA	$413.7M+6782.1%	$173.4M+1083.3%	N/A	-$41.4M+72.0%	-$6.2M-103.1%	-$17.6M-108.2%	-$490.6M+27.6%	-$147.9M-168.5%
Interest Expense	$10.9M+192.6%	$7.2M+95.8%	N/A	$8.9M+108.8%	$3.7M-91.8%	$3.7M-91.5%	-$79.8M+40.2%	$4.2M-91.5%
Income Tax	$115.9M+1276.9%	$52.4M+27390.6%	N/A	-$62.7M-184.4%	$8.4M-39.9%	-$192K-100.7%	-$39.2M-62.4%	-$22.0M-181.7%
Net Income	$358.7M+1038.9%	$177.8M+874.4%	N/A	-$38.5M+51.4%	$31.5M+85.3%	$18.2M+1.4%	$12.6M-25.7%	-$79.2M-444.1%
EPS (Basic)	$4.15+1021.6%	$2.06+881.0%	$0.44+780.0%	-$0.45+51.1%	$0.37+85.0%	$0.210.0%	$0.05-70.6%	-$0.92-453.8%
EPS (Diluted)	$4.15+1052.8%	$2.06+881.0%	$0.43+760.0%	-$0.44+52.2%	$0.36+80.0%	$0.21+5.0%	$0.05	-$0.92-453.8%
Diluted Shares (Avg)	87M-1.5%	86M-1.9%	N/A	87M+1.2%	88M-0.2%	88M+0.2%	N/A	86M-0.2%

Not reported in any period shown, so not listed: R&D Expenses.

AD Balance Sheet

AD quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$4.7B-55.2%	$10.4B-2.8%	$10.8B-3.3%	$11.1B+7.5%	$10.3B+6.8%	$9.7B+18.6%	$8.2B+12.2%	$7.3B+6.3%	$6.8B-3.8%	$7.1B+0.7%	$7.1B+9.2%	$6.5B+0.3%	$6.4B-2.2%	$6.6B+4.1%	$6.3B
Current Assets	$144.8M-89.2%	$1.3B-3.9%	$1.4B-18.7%	$1.7B+7.4%	$1.6B-38.8%	$2.6B+66.8%	$1.6B-13.2%	$1.8B+22.2%	$1.5B-4.8%	$1.6B-6.8%	$1.7B+30.7%	$1.3B-8.7%	$1.4B+17.1%	$1.2B-7.5%	$1.3B
Cash & Equivalents	$113.4M-21.1%	$143.7M-4.2%	$150.0M-45.1%	$273.0M+75.0%	$156.0M-87.7%	$1.3B+346.0%	$285.0M-50.9%	$580.0M+64.8%	$352.0M-39.9%	$586.0M-18.0%	$715.0M+237.3%	$212.0M-38.0%	$342.0M-9.6%	$378.4M-10.8%	$424.2M
Short-Term Investments	$0	$0	$0	$0	$0-100.0%	$3.0M	$0-100.0%	$17.0M-66.0%	$50.0M	$0	$0	$0-100.0%	$50.1M-50.2%	$100.7M-20.8%	$127.0M
Inventory	N/A	$179.0M-10.1%	$199.0M-23.8%	$261.0M+50.9%	$173.0M+18.5%	$146.0M-9.9%	$162.0M+14.1%	$142.0M+2.9%	$138.0M0.0%	$138.0M-7.4%	$149.0M-44.2%	$267.1M+12.1%	$238.2M+52.8%	$155.9M+22.7%	$127.1M
Accounts Receivable	N/A	$905.0M+0.6%	$900.0M-8.6%	$985.0M+0.9%	$976.0M+6.7%	$915.0M-0.4%	$919.0M+1.2%	$908.0M+17.2%	$775.0M+17.8%	$658.0M+8.2%	$608.0M+30.5%	$466.0M-0.3%	$467.3M+33.7%	$349.4M+2.3%	$341.4M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0-100.0%	$2.1B+2.1%	$2.1B+3983.6%	$50.3M+67.4%	$30.1M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0-100.0%	$370.0M0.0%	$370.0M0.0%	$370.2M-4.5%	$387.5M-8.1%	$421.7M-14.8%	$494.7M
Total Liabilities	$2.1B-64.1%	$5.9B-4.1%	$6.1B-6.7%	$6.6B+13.3%	$5.8B+9.9%	$5.3B+32.8%	$4.0B+23.3%	$3.2B+1.7%	$3.2B-9.0%	$3.5B-0.7%	$3.5B+10.7%	$3.2B+3.5%	$3.1B+7.0%	$2.9B+5.4%	$2.7B
Current Liabilities	$200.0M-77.4%	$883.8M-1.9%	$901.0M-24.6%	$1.2B+32.3%	$903.0M+3.7%	$871.0M+16.1%	$750.0M+8.5%	$691.0M-5.7%	$733.0M+2.1%	$718.0M-4.0%	$748.0M-12.7%	$856.9M-14.8%	$1.0B+33.3%	$755.0M+4.5%	$722.3M
Non-Current Liabilities	$1.9B-61.7%	$5.0B-4.5%	$5.2B-2.7%	$5.4B+9.8%	$4.9B+11.2%	$4.4B+36.7%	$3.2B+27.4%	$2.5B+3.9%	$2.4B-11.9%	$2.8B+0.3%	$2.8B+19.4%	$2.3B+12.5%	$2.0B-2.4%	$2.1B+5.7%	$2.0B
Long-Term Debt	$670.3M-44.2%	$1.2B-60.5%	$3.0B-4.5%	$3.2B+16.8%	$2.7B+9.6%	$2.5B+65.7%	$1.5B-6.4%	$1.6B-1.0%	$1.6B+0.2%	$1.6B-0.7%	$1.6B+44.6%	$1.1B+28.3%	$878.0M-0.1%	$878.9M-0.2%	$880.3M
Total Equity	$2.6B-43.9%	$4.6B-1.1%	$4.6B+1.6%	$4.6B+0.2%	$4.5B+3.1%	$4.4B+5.1%	$4.2B+3.5%	$4.1B+10.3%	$3.7B+1.2%	$3.6B+2.0%	$3.6B+7.8%	$3.3B-2.6%	$3.4B-9.2%	$3.7B+3.1%	$3.6B
Retained Earnings	$769.8M-72.7%	$2.8B-2.6%	$2.9B+1.1%	$2.9B+0.4%	$2.8B+4.0%	$2.7B+7.4%	$2.5B+4.3%	$2.4B+13.3%	$2.2B-0.1%	$2.2B+1.3%	$2.1B+11.6%	$1.9B-6.5%	$2.0B-14.8%	$2.4B+4.4%	$2.3B

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$3.4B-67.5%	$4.0B-61.7%	$4.7B-55.2%	$4.9B-53.2%	$10.4B-2.5%	$10.4B-3.2%	$10.4B-2.8%	$10.5B-2.2%
Current Assets	$438.7M-70.9%	$274.1M-80.0%	$144.8M-89.2%	$352.2M-75.3%	$1.5B+9.8%	$1.4B-1.6%	$1.3B-3.9%	$1.4B+2.4%
Cash & Equivalents	$416.4M+7.9%	$253.6M+39.4%	$113.4M-21.1%	$325.6M+19.7%	$386.0M+97.9%	$182.0M-1.6%	$143.7M-4.2%	$272.0M+77.8%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	N/A	N/A	N/A	N/A	$126.0M-11.9%	$178.0M+1.7%	$179.0M-10.1%	$161.0M-8.0%
Accounts Receivable	N/A	N/A	N/A	N/A	$861.0M-3.4%	$863.0M-1.6%	$905.0M+0.6%	$871.0M-2.1%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$2.1B-63.5%	$2.1B-63.6%	$2.1B-64.1%	$2.4B-59.7%	$5.8B-3.1%	$5.8B-4.4%	$5.9B-4.1%	$5.9B-3.4%
Current Liabilities	$461.7M-42.9%	$265.6M-67.1%	$200.0M-77.4%	$539.0M-40.7%	$808.0M-8.8%	$807.0M-3.6%	$883.8M-1.9%	$909.0M-11.8%
Non-Current Liabilities	$1.6B-66.9%	$1.8B-63.0%	$1.9B-61.7%	$1.8B-63.2%	$5.0B-2.1%	$5.0B-4.5%	$5.0B-4.5%	$5.0B-1.8%
Long-Term Debt	$666.8M-76.3%	$668.5M-76.4%	$670.3M-44.2%	$671.9M-76.7%	$2.8B-2.4%	$2.8B-6.6%	$1.2B-60.5%	$2.9B-0.7%
Total Equity	$1.3B-72.5%	$1.9B-59.5%	$2.6B-43.9%	$2.5B-44.8%	$4.6B-1.6%	$4.6B-1.6%	$4.6B-1.1%	$4.6B-0.5%
Retained Earnings	-$534.8M-119.1%	$59.3M-97.9%	$769.8M-72.7%	$732.3M-74.0%	$2.8B-3.1%	$2.8B-3.0%	$2.8B-2.6%	$2.8B-2.3%

Not reported in any period shown, so not listed: Goodwill.

AD Cash Flow Statement

AD quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	-$302.7M	$200.8M-77.2%	$882.5M+1.8%	$866.9M+4.2%	$832.0M+3.7%	$802.0M-35.2%	$1.2B+70.9%	$724.0M+2.1%	$709.0M+51.2%	$469.0M-6.4%	$501.0M-9.7%	$555.0M+222.7%	$172.0M-40.9%	$290.9M-67.7%	$899.3M-9.0%	$987.9M
Depreciation & Amortization	N/A	$39.1M+0.8%	$38.8M-7.0%	$41.7M-93.9%	$682.0M+3.0%	$662.0M-1.0%	$669.0M-2.9%	$689.0M+9.9%	$627.0M+3.8%	$604.0M-0.5%	$607.0M+1.8%	$596.0M+0.5%	$593.0M-25.0%	$791.1M+32.4%	$597.7M+5.8%	$565.1M
Stock-Based Compensation	N/A	$1.8M-33.3%	$2.7M+137.6%	$1.1M-95.2%	$24.0M-11.1%	$27.0M-15.6%	$32.0M-22.0%	$41.0M+10.8%	$37.0M+23.3%	$30.0M+15.4%	$26.0M+4.0%	$25.0M+13.6%	$22.0M+38.9%	$15.8M-26.2%	$21.5M+6.4%	$20.2M
Capital Expenditures	$35.4M	$27.2M+47.3%	$18.5M-54.6%	$40.6M-93.2%	$602.0M-16.9%	$724.0M-26.8%	$989.0M+52.2%	$650.0M+27.0%	$512.0M+10.1%	$465.0M+5.0%	$443.0M-23.8%	$581.0M-4.0%	$605.0M-15.7%	$717.9M-13.1%	$826.4M+7.1%	$771.8M
Free Cash Flow	-$338.1M	$173.6M-79.9%	$864.0M+4.6%	$826.2M+259.2%	$230.0M+194.9%	$78.0M-68.5%	$248.0M+235.1%	$74.0M-62.4%	$197.0M+4825.0%	$4.0M-93.1%	$58.0M+323.1%	-$26.0M+94.0%	-$433.0M-1.4%	-$427.0M-685.8%	$72.9M-66.3%	$216.1M
Investing Cash Flow	$4.8B	$2.4B+538.3%	-$556.2M+22.8%	-$720.9M+38.9%	-$1.2B+42.1%	-$2.0B-75.1%	-$1.2B-34.6%	-$864.0M-86.2%	-$464.0M+32.1%	-$683.0M-10.5%	-$618.0M-12.4%	-$550.0M	N/A	N/A	-$896.6M-18.0%	-$759.6M
Financing Cash Flow	-$4.4B	-$2.7B-673.6%	-$347.0M-26.5%	-$274.3M-160.2%	$456.0M+221.1%	$142.0M-84.7%	$926.0M+709.2%	-$152.0M-985.7%	-$14.0M+30.0%	-$20.0M-66.7%	-$12.0M-102.4%	$497.0M	N/A	N/A	-$48.5M+40.2%	-$81.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$482.3M	N/A	N/A
Share Buybacks	$0	$21.4M-60.5%	$54.1M	$0-100.0%	$43.0M+38.7%	$31.0M+34.8%	$23.0M+9.5%	$21.0M	$0	$0-100.0%	$5.0M-16.7%	$6.0M-68.4%	$19.0M+2.5%	$18.5M-7.5%	$20.0M-67.8%	$62.3M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	-$42.8M-113.2%	$23.8M-85.0%	-$202.1M-267.0%	-$81.7M-133.3%	$325.3M+3.9%	$159.3M-21.5%	$121.0M-18.2%	$245.5M-25.4%
Depreciation & Amortization	$14.4M+20.2%	$12.6M+5.1%	N/A	$11.9M-3.0%	$12.0M-92.7%	$12.0M-92.7%	-$303.4M+32.3%	$12.2M-92.3%
Stock-Based Compensation	N/A	$227K-78.1%	N/A	N/A	N/A	$1.0M-92.0%	N/A	N/A
Capital Expenditures	$5.8M+47.0%	$13.8M+84.0%	$8.6M+68.9%	$7.1M-97.2%	$4.0M-97.1%	$7.5M-94.4%	$5.1M-98.8%	-$256.6M+149.2%
Free Cash Flow	-$48.6M-115.1%	$10.0M-93.4%	-$210.7M-281.8%	-$88.8M-696.8%	$321.4M+82.6%	$151.8M+116.8%	$115.9M+143.6%	-$11.1M-104.9%
Investing Cash Flow	$1.2B+1630.0%	$1.0B+1458.5%	-$8.6M+93.9%	$2.6B+2081.7%	-$75.9M+45.8%	-$73.9M+48.7%	-$141.2M+45.0%	-$131.0M-10.1%
Financing Cash Flow	-$956.3M-1852.7%	-$887.8M-1918.1%	-$1.6M+98.6%	-$2.6B-6050.8%	-$49.0M+70.8%	-$44.0M-57.1%	-$108.9M-205.0%	-$42.1M+83.1%
Share Buybacks	$0	$0-100.0%	$0-100.0%	$0-100.0%	$0	$21.4M	$28.5M	$25.6M

Not reported in any period shown, so not listed: Dividends Paid.

AD Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AD quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	51.2%-46.8pp	98.0%-0.2pp	98.2%	N/A	N/A	N/A	N/A	N/A	72.5%-0.4pp	72.9%-1.0pp	73.9%+4.4pp	69.4%-5.1pp	74.5%-4.5pp	79.0%-2.8pp	81.8%
Operating Margin	-56.8%-49.7pp	-7.1%-4.1pp	-2.9%-4.6pp	1.7%-2.5pp	4.1%-0.2pp	4.3%+1.5pp	2.8%-1.2pp	4.0%+11.8pp	-7.8%-9.0pp	1.2%-7.4pp	8.6%+12.0pp	-3.4%-7.2pp	3.8%+0.2pp	3.5%-2.9pp	6.5%
Net Margin	42.5%+43.3pp	-0.9%-2.4pp	1.5%+0.7pp	0.8%-3.0pp	3.9%-1.8pp	5.7%+2.5pp	3.2%-0.6pp	3.8%+3.5pp	0.3%-0.9pp	1.2%-4.8pp	6.0%+7.1pp	-1.1%-4.7pp	3.6%+1.1pp	2.5%-1.5pp	4.0%
Return on Equity	2.7%+3.4pp	-0.7%-1.9pp	1.3%+0.5pp	0.8%-2.8pp	3.5%-1.7pp	5.2%+2.2pp	3.0%-0.7pp	3.7%+3.4pp	0.3%-1.0pp	1.3%-5.4pp	6.8%+8.1pp	-1.3%-5.4pp	4.1%+1.2pp	3.0%-1.9pp	4.8%
Return on Assets	1.5%+1.8pp	-0.3%-0.8pp	0.5%+0.2pp	0.3%-1.2pp	1.6%-0.8pp	2.4%+0.8pp	1.6%-0.5pp	2.1%+1.9pp	0.2%-0.5pp	0.7%-2.7pp	3.4%+4.1pp	-0.7%-2.8pp	2.2%+0.5pp	1.7%-1.1pp	2.8%
Current Ratio	0.72-0.8x	1.520.0x	1.55+0.1x	1.44-0.3x	1.78-1.2x	3.01+0.9x	2.10-0.5x	2.62+0.6x	2.02-0.1x	2.17-0.1x	2.24+0.7x	1.49+0.1x	1.39-0.2x	1.58-0.2x	1.79
Debt-to-Equity	0.260.0x	0.26-0.4x	0.660.0x	0.70+0.1x	0.600.0x	0.56+0.2x	0.360.0x	0.400.0x	0.440.0x	0.450.0x	0.46+0.1x	0.34+0.1x	0.260.0x	0.240.0x	0.24
Asset Turnover	0.03-0.3x	0.350.0x	0.350.0x	0.370.0x	0.400.0x	0.42-0.1x	0.49-0.1x	0.550.0x	0.570.0x	0.560.0x	0.570.0x	0.600.0x	0.61-0.1x	0.680.0x	0.69
FCF Margin	106.5%	23.6%+1.9pp	21.7%+16.2pp	5.5%+3.6pp	1.9%-4.3pp	6.1%+4.3pp	1.8%-3.1pp	5.0%+4.9pp	0.1%-1.4pp	1.5%+2.1pp	-0.7%+10.4pp	-11.1%-0.2pp	-10.9%-12.5pp	1.6%-3.3pp	5.0%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	56.5%-41.3pp	58.5%-39.7pp	N/A	55.5%-42.5pp	97.8%	98.1%	N/A	98.0%
Operating Margin	738.4%	309.1%	N/A	-113.1%	-2.1%-5.9pp	-3.4%-8.8pp	-20.9%+4.6pp	-17.9%-23.8pp
Net Margin	663.4%	341.8%	N/A	-81.6%-72.8pp	3.5%+1.7pp	2.1%+0.2pp	1.4%-0.5pp	-8.8%-11.2pp
Return on Equity	28.3%+27.7pp	9.6%+9.2pp	N/A	-1.5%+0.2pp	0.7%+0.3pp	0.4%0.0pp	0.3%-0.1pp	-1.7%-2.2pp
Return on Assets	10.6%+10.3pp	4.5%+4.3pp	N/A	-0.8%0.0pp	0.3%+0.1pp	0.2%0.0pp	0.1%0.0pp	-0.8%-1.0pp
Current Ratio	0.95-0.9x	1.03-0.7x	0.72-0.8x	0.65-0.9x	1.87+0.3x	1.700.0x	1.520.0x	1.57+0.2x
Debt-to-Equity	0.53-0.1x	0.36-0.3x	0.260.0x	0.27-0.4x	0.610.0x	0.620.0x	0.26-0.4x	0.630.0x
Asset Turnover	0.02-0.1x	0.01-0.1x	N/A	0.01-0.1x	0.090.0x	0.080.0x	0.090.0x	0.090.0x
FCF Margin	-89.9%-126.1pp	19.2%+1.7pp	N/A	-188.5%	36.2%+17.2pp	17.6%+10.2pp	13.0%+42.5pp	-1.2%-24.7pp

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.

Note: The current ratio is below 1.0 (0.72), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Array Digital AD	FY2025	$163.0M	$69.2M	42.5%	$3.3B	36/100
Telephone & Data Sys Inc TDS	FY2025	$1.2B	$20.2M	1.7%	$4.4B	47/100
Liberty Global Plc LBTYA	FY2025	$4.9B	-$7.1B	N/A	$3.6B	36/100
Liberty Global LBTYB	FY2025	$4.9B	-$7.1B	N/A	$4.5B	36/100

Where Array Digital Ranks

Frequently Asked Questions

What is Array Digital's annual revenue?

Array Digital (AD) reported $163.0M in total revenue for fiscal year 2025. This represents a -95.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Array Digital's revenue growing?

Array Digital (AD) revenue declined by 95.6% year-over-year, from $3.7B to $163.0M in fiscal year 2025.

Is Array Digital profitable?

Yes, Array Digital (AD) reported a net income of $69.2M in fiscal year 2025, with a net profit margin of 42.5%.

What is Array Digital's EBITDA?

Array Digital (AD) had EBITDA of -$53.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Array Digital have?

As of fiscal year 2025, Array Digital (AD) had $113.4M in cash and equivalents against $670.3M in long-term debt.

What is Array Digital's gross margin?

Array Digital (AD) had a gross margin of 51.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Array Digital's operating margin?

Array Digital (AD) had an operating margin of -56.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Array Digital's net profit margin?

Array Digital (AD) had a net profit margin of 42.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Array Digital pay dividends?

Yes, Array Digital (AD) paid $23.00 per share in dividends during fiscal year 2025.

What is Array Digital's return on equity (ROE)?

Array Digital (AD) has a return on equity of 2.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Array Digital's free cash flow?

Array Digital (AD) generated $173.6M in free cash flow during fiscal year 2025. This represents a -79.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Array Digital's operating cash flow?

Array Digital (AD) generated $200.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Array Digital's total assets?

Array Digital (AD) had $4.7B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Array Digital's capital expenditures?

Array Digital (AD) invested $27.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Array Digital buy back shares?

Yes, Array Digital (AD) spent $21.4M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Array Digital have outstanding?

Array Digital (AD) had 86M shares outstanding as of fiscal year 2025.

What is Array Digital's current ratio?

Array Digital (AD) had a current ratio of 0.72 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Array Digital's debt-to-equity ratio?

Array Digital (AD) had a debt-to-equity ratio of 0.26 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Array Digital's return on assets (ROA)?

Array Digital (AD) had a return on assets of 1.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Array Digital's P/E ratio?

Array Digital (AD) trades at 48.0x earnings, its market capitalization divided by net income of $69.2M net income, FY2025. The market capitalization is $3.3B as of Sep 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Array Digital's price-to-sales ratio?

Array Digital (AD) trades at 20.4x sales, its market capitalization divided by revenue of $163.0M revenue, FY2025. The market capitalization is $3.3B as of Sep 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Array Digital's Altman Z-Score?

Array Digital (AD) has an Altman Z-Score of 1.13, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Array Digital's Piotroski F-Score?

Array Digital (AD) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Array Digital's earnings high quality?

Array Digital (AD) has an earnings quality ratio of 2.90x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Array Digital cover its interest payments?

Array Digital (AD) reported an operating loss of $92.5M against $28.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Array Digital?

Array Digital (AD) scores 36 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.