What is Array Technologies, Inc.'s earnings per share (EPS)?

Array Technologies, Inc. (ARRY) reported diluted earnings per share of -$0.73 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 Technologies, Inc. Financials

ARRY

FY2025 annual

Revenue $1.3B +40.2% YoY

Net Income -$52.2M +78.3% YoY

EPS (Diluted) -$0.73 YoY not available

Free Cash Flow $79.8M -45.6% YoY

Source SEC Filings (10-K/10-Q) Data as of Jun 30, 2026 Currency USD FYE December

Array Technologies, Inc. (ARRY) reported $1.3B in revenue for fiscal year 2025, up 40.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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 ARRY FY2025 2026-05-06

Array's recent reset shows a margin-sensitive model where cash generation depends more on working capital than on reported profit.

FY2025 revenue rebounded 40.2% from FY2024, but gross profit stayed near $299M. That leaves gross profit well below FY2023's $415.6M, suggesting a lower-value sales mix or thinner project economics rather than a full earnings recovery. Because inventory fell to $150.4M and free cash flow stayed positive at $79.8M, the cash story looks healthier than the margin story.

The balance sheet shows a liquidity/solvency split: a 2.3x current ratio and $244.4M of cash support day-to-day operations. At the same time, liabilities exceeded assets by $206.3M in FY2025, so the company is still operating with a leveraged capital structure rather than accumulated equity.

With capital spending of only $22.0M against operating cash flow of $101.8M, most cash earnings survived to free cash flow, which points to a low capital-intensity model. That matters because earnings quality is mixed: FY2025 still showed a net loss, yet cash remained positive, so non-cash charges and working-capital movements are shaping reported profit more than cash outflow.

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 Technologies, Inc.'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 Technologies, Inc. has an operating margin of -2.3%, meaning the company loses $2 on every $100 of revenue. This results in a profitability score of 23/100. This is up from -24.8% the prior year.

Growth

Array Technologies, Inc.'s revenue surged 40.2% year-over-year to $1.3B, reflecting rapid business expansion. This strong growth earns a score of 11/100.

Leverage

Liquidity

With a current ratio of 2.31, Array Technologies, Inc. holds $2.31 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 65/100.

Cash Flow

Array Technologies, Inc. converts 6.2% of revenue into free cash flow ($79.8M). This strong cash generation earns a score of 69/100.

Returns

Altman Z-Score Distress

1.08

Array Technologies, Inc. scores 1.08, below the 1.81 distress threshold. 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 Partial

5/8

Array Technologies, Inc. passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Mixed

N/A

Array Technologies, Inc. reported a net loss of $52.2M while generating $101.8M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

Array Technologies, Inc. reported an operating loss of $29.0M against $27.3M 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

$1.3B

YoY+40.2%

5Y CAGR+8.0%

Array Technologies, Inc. generated $1.3B in revenue in fiscal year 2025. This represents an increase of 40.2% from the prior year.

EBITDA

-$2.8M

YoY+98.5%

Array Technologies, Inc.'s EBITDA was -$2.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 98.5% from the prior year.

Net Income

-$52.2M

YoY+78.3%

Array Technologies, Inc. reported -$52.2M in net income in fiscal year 2025. This represents an increase of 78.3% from the prior year.

EPS (Diluted)

-$0.73

Array Technologies, Inc. earned -$0.73 per diluted share (EPS) in fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow

$79.8M

YoY-45.6%

Array Technologies, Inc. generated $79.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 45.6% from the prior year.

Cash & Debt

$244.4M

YoY-32.7%

5Y CAGR+17.6%

Array Technologies, Inc. held $244.4M in cash against $658.7M in long-term debt as of fiscal year 2025.

Dividends Per Share

Not reported for fiscal year 2025.

Shares Outstanding

Not reported for fiscal year 2025.

Margins & Returns

Gross Margin

23.3%

YoY-9.3pp

5Y CAGR0.0pp

Array Technologies, Inc.'s gross margin was 23.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 9.3 percentage points from the prior year.

Operating Margin

-2.3%

YoY+22.5pp

5Y CAGR-13.2pp

Array Technologies, Inc.'s operating margin was -2.3% in fiscal year 2025, reflecting core business profitability. This is up 22.5 percentage points from the prior year.

Net Margin

-4.1%

YoY+22.2pp

5Y CAGR-10.8pp

Array Technologies, Inc.'s net profit margin was -4.1% in fiscal year 2025, showing the share of revenue converted to profit. This is up 22.2 percentage points from the prior year.

Return on Equity

Not reported for fiscal year 2025.

Capital Allocation

R&D Spending

$9.9M

YoY+47.8%

Array Technologies, Inc. invested $9.9M in research and development in fiscal year 2025. This represents an increase of 47.8% from the prior year.

Capital Expenditures

$22.0M

YoY+200.8%

5Y CAGR+75.0%

Array Technologies, Inc. invested $22.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 200.8% from the prior year.

Share Buybacks

Not reported for fiscal year 2025.

ARRY Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

ARRY annual income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Revenue	$1.2B	$1.3B+40.2%	$915.8M-41.9%	$1.6B-3.7%	$1.6B+91.9%	$853.3M-2.2%	$872.7M+34.7%	$647.9M+122.8%	$290.8M
Cost of Revenue	$897.4M	$985.6M+59.4%	$618.1M-46.8%	$1.2B-18.5%	$1.4B+81.5%	$785.0M+17.2%	$669.9M+34.7%	$497.1M+78.0%	$279.2M
Gross Profit	$287.6M	$298.6M+0.3%	$297.7M-28.4%	$415.6M+95.4%	$212.7M+211.4%	$68.3M-66.3%	$202.8M+34.5%	$150.8M+1204.7%	$11.6M
R&D Expenses	$13.0M	$9.9M+47.8%	$6.7M-21.2%	$8.5M+102.4%	$4.2M	N/A	N/A	N/A	N/A
SG&A Expenses	$214.4M	$198.6M+23.7%	$160.6M+0.6%	$159.5M+5.8%	$150.8M+86.2%	$81.0M+45.5%	$55.6M+35.0%	$41.2M-12.1%	$46.9M
Operating Income	-$60.8M	-$29.0M+87.2%	-$227.0M-206.0%	$214.1M+1280.9%	-$18.1M+26.7%	-$24.7M-126.0%	$95.2M+14.2%	$83.4M+236.3%	-$61.2M
Interest Expense	$21.9M	$27.3M-21.5%	$34.8M-21.3%	$44.2M+20.5%	$36.7M+2.8%	$35.7M+135.9%	$15.1M-19.5%	$18.8M-1.3%	$19.0M
Income Tax	$12.4M	$23.0M+326.1%	-$10.2M-125.5%	$39.9M+525.4%	-$9.4M+12.4%	-$10.7M-157.3%	$18.7M-24.7%	$24.8M+224.6%	-$19.9M
Net Income	-$85.9M	-$52.2M+78.3%	-$240.4M-275.2%	$137.2M+2996.6%	$4.4M+108.8%	-$50.4M-185.3%	$59.1M+48.6%	$39.7M+165.4%	-$60.8M
EPS (Diluted)	—	-$0.73	-$1.95	$0.56+293.1%	-$0.29+43.1%	-$0.51-204.1%	$0.49+48.5%	$0.33+164.7%	-$0.51

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$342.1M+53.1%	$223.4M-1.2%	$226.0M-42.6%	$393.5M+8.6%	$362.2M+19.8%	$302.4M+9.9%	$275.2M+18.9%	$231.4M
Cost of Revenue	$242.5M+51.2%	$160.4M-22.4%	$206.7M-28.2%	$287.8M+8.6%	$265.1M+17.3%	$225.9M+14.7%	$196.9M+28.6%	$153.1M
Gross Profit	$99.6M+58.1%	$63.0M+225.9%	$19.3M-81.7%	$105.7M+8.8%	$97.1M+27.1%	$76.4M-2.4%	$78.3M0.0%	$78.3M
R&D Expenses	$5.0M+66.7%	$3.0M+11.1%	$2.7M+17.4%	$2.3M-8.0%	$2.5M+4.2%	$2.4M+71.4%	$1.4M-12.5%	$1.6M
SG&A Expenses	$54.3M+7.8%	$50.4M-12.3%	$57.5M+10.0%	$52.2M+16.2%	$45.0M+2.3%	$43.9M-3.8%	$45.7M+13.7%	$40.1M
Operating Income	$34.8M+389.0%	$7.1M+104.8%	-$148.1M-425.9%	$45.5M-2.0%	$46.4M+70.0%	$27.3M+119.2%	-$142.3M-7.3%	-$132.7M
Interest Expense	$5.8M+4.0%	$5.6M+1.5%	$5.5M+8.6%	$5.0M-42.4%	$8.8M+9.1%	$8.0M-10.8%	$9.0M+9.0%	$8.3M
Income Tax	$7.4M+246.7%	$2.1M+130.1%	-$7.1M-171.2%	$9.9M-27.0%	$13.6M+108.4%	$6.5M+128.2%	-$23.1M-701.2%	$3.9M
Net Income	$24.3M+1119.1%	$2.0M+101.4%	-$145.7M-535.0%	$33.5M-22.6%	$43.3M+158.3%	$16.7M+113.2%	-$126.9M+10.2%	-$141.4M
EPS (Diluted)	$0.05+155.6%	-$0.09	N/A	$0.12-36.8%	$0.19	$0.02	N/A	-$1.02

TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.

ARRY Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

ARRY annual balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Total Assets	$1.5B+1.8%	$1.4B-16.4%	$1.7B0.0%	$1.7B+49.3%	$1.1B+74.2%	$656.0M-29.0%	$923.6M	N/A
Current Assets	$869.0M-13.0%	$998.7M+20.0%	$832.3M+0.1%	$831.2M-2.4%	$852.0M+127.1%	$375.2M-39.5%	$619.7M	N/A
Cash & Equivalents	$244.4M-32.7%	$363.0M+45.7%	$249.1M+86.0%	$133.9M-63.6%	$367.7M+239.1%	$108.4M-65.0%	$310.3M+660.0%	$40.8M
Inventory	$150.4M-25.1%	$200.8M+24.0%	$162.0M-30.5%	$233.2M+13.4%	$205.7M+73.6%	$118.5M-20.0%	$148.0M	N/A
Accounts Receivable	$271.6M-1.5%	$275.8M-17.0%	$332.2M-21.1%	$421.2M+78.5%	$236.0M+98.8%	$118.7M+23.3%	$96.3M	N/A
Goodwill	$135.2M-15.6%	$160.2M-63.2%	$435.6M+4.7%	$416.2M+496.9%	$69.7M0.0%	$69.7M0.0%	$69.7M	N/A
Total Liabilities	$1.7B+7.4%	$1.5B+6.7%	$1.4B+12.9%	$1.3B+5.8%	$1.2B+64.5%	$736.9M+19.2%	$618.4M	N/A
Current Liabilities	$377.0M-13.9%	$437.8M+30.4%	$335.7M-27.8%	$465.3M+89.7%	$245.3M-15.1%	$289.1M-51.1%	$590.6M	N/A
Long-Term Debt	$658.7M+1.9%	$646.6M-2.2%	$660.9M-8.2%	$720.4M+1.3%	$711.1M+67.7%	$424.0M	$0	N/A
Total Equity	-$206.3M-74.7%	-$118.1M-145.6%	$259.2M+108.6%	$124.3M+279.6%	-$69.2M+14.5%	-$80.9M-126.5%	$305.2M	N/A
Retained Earnings	-$422.9M-14.1%	-$370.6M-184.6%	-$130.2M+51.3%	-$267.5M+1.6%	-$271.9M-22.8%	-$221.5M	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$1.5B+4.0%	$1.5B+1.6%	$1.5B-9.9%	$1.6B+4.5%	$1.5B+8.2%	$1.4B0.0%	$1.4B-8.8%	$1.6B
Current Assets	$891.8M+1.4%	$879.4M+1.2%	$869.0M+0.3%	$866.5M-16.6%	$1.0B+6.4%	$976.3M-2.2%	$998.7M+10.7%	$902.3M
Cash & Equivalents	$307.3M+53.1%	$200.7M-17.9%	$244.4M+10.3%	$221.5M-41.3%	$377.3M+8.3%	$348.3M-4.0%	$363.0M+9.2%	$332.4M
Inventory	$156.5M-6.8%	$168.0M+11.7%	$150.4M-16.9%	$180.9M+1.6%	$178.0M-4.8%	$186.9M-6.9%	$200.8M+2.6%	$195.7M
Accounts Receivable	$323.4M+10.6%	$292.3M+7.6%	$271.6M-28.3%	$378.6M+3.1%	$367.2M+29.9%	$282.6M+2.4%	$275.8M-2.2%	$282.1M
Goodwill	$135.2M0.0%	$135.2M0.0%	$135.2M-44.9%	$245.2M+42.1%	$172.6M+5.1%	$164.2M+2.5%	$160.2M-36.1%	$250.9M
Total Liabilities	$1.7B+2.8%	$1.7B+1.9%	$1.7B0.0%	$1.7B+2.8%	$1.6B+5.9%	$1.5B-1.3%	$1.5B+3.0%	$1.5B
Current Liabilities	$405.8M+3.9%	$390.4M+3.6%	$377.0M-17.8%	$458.5M-2.1%	$468.3M+14.6%	$408.5M-6.7%	$437.8M+16.8%	$374.9M
Long-Term Debt	$657.7M+0.1%	$657.0M-0.3%	$658.7M0.0%	$658.4M+0.1%	$657.6M+2.0%	$644.5M-0.3%	$646.6M-0.3%	$648.3M
Total Equity	-$202.1M+5.7%	-$214.4M-3.9%	-$206.3M-341.7%	-$46.7M+34.1%	-$70.9M+27.5%	-$97.8M+17.2%	-$118.1M-283.1%	$64.5M
Retained Earnings	-$396.5M+5.8%	-$420.9M+0.5%	-$422.9M-52.6%	-$277.1M+10.8%	-$310.6M+12.2%	-$353.9M+4.5%	-$370.6M-52.1%	-$243.7M

ARRY Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

ARRY annual cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Operating Cash Flow	$162.9M	$101.8M-33.9%	$154.0M-33.6%	$232.0M+63.9%	$141.5M+153.8%	-$263.2M-115.4%	-$122.2M-131.7%	$386.1M+3392.2%	-$11.7M
Capital Expenditures	$28.1M	$22.0M+200.8%	$7.3M-57.0%	$17.0M+60.0%	$10.6M+216.3%	$3.4M+150.9%	$1.3M-21.2%	$1.7M-18.1%	$2.1M
Free Cash Flow	$134.7M	$79.8M-45.6%	$146.7M-31.8%	$215.0M+64.3%	$130.9M+149.1%	-$266.5M-115.7%	-$123.5M-132.1%	$384.4M+2885.3%	-$13.8M
Investing Cash Flow	-$194.0M	-$187.9M-1862.9%	-$9.6M+43.1%	-$16.8M+95.6%	-$384.4M-2407.4%	-$15.3M-1045.9%	-$1.3M+21.2%	-$1.7M+73.6%	-$6.4M
Financing Cash Flow	-$42.4M	-$38.1M-221.3%	-$11.8M+88.4%	-$101.8M-1305.7%	$8.4M-98.4%	$537.7M+516.0%	-$129.3M-102.2%	-$63.9M-225.7%	$50.9M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	$121.3M+512.2%	-$29.4M-167.4%	$43.6M+59.5%	$27.4M-37.6%	$43.8M+435.7%	-$13.1M-122.7%	$57.6M+28.2%	$44.9M
Capital Expenditures	$7.6M+1.6%	$7.5M+0.5%	$7.5M+35.6%	$5.5M-16.9%	$6.6M+181.9%	$2.4M+38.3%	$1.7M+57.9%	$1.1M
Free Cash Flow	$113.6M+407.7%	-$36.9M-202.1%	$36.2M+65.5%	$21.9M-41.3%	$37.2M+341.5%	-$15.4M-127.6%	$55.9M+27.4%	$43.9M
Investing Cash Flow	-$7.6M-1.6%	-$7.5M+11.4%	-$8.5M+95.0%	-$170.4M-2470.2%	-$6.6M-181.9%	-$2.4M+85.3%	-$16.0M-246.7%	$10.9M
Financing Cash Flow	-$9.5M-25.0%	-$7.6M+39.3%	-$12.5M+1.6%	-$12.7M-15.3%	-$11.1M-540.6%	-$1.7M-534.5%	$397K+104.9%	-$8.1M

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

ARRY Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

ARRY annual financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Gross Margin	23.3%-9.3pp	32.5%+6.1pp	26.4%+13.4pp	13.0%+5.0pp	8.0%-15.2pp	23.2%0.0pp	23.3%+19.3pp	4.0%
Operating Margin	-2.3%+22.5pp	-24.8%-38.4pp	13.6%+14.7pp	-1.1%+1.8pp	-2.9%-13.8pp	10.9%-2.0pp	12.9%+33.9pp	-21.1%
Net Margin	-4.1%+22.2pp	-26.3%-35.0pp	8.7%+8.4pp	0.3%+6.2pp	-5.9%-12.7pp	6.8%+0.6pp	6.1%+27.0pp	-20.9%
Return on Equity	N/A	N/A	52.9%+49.4pp	3.6%	N/A	N/A	13.0%	N/A
Return on Assets	-3.6%+13.3pp	-16.9%-24.9pp	8.0%+7.8pp	0.3%+4.7pp	-4.4%-13.4pp	9.0%+4.7pp	4.3%	N/A
Current Ratio	2.310.0x	2.28-0.2x	2.48+0.7x	1.79-1.7x	3.47+2.2x	1.30+0.2x	1.05	N/A
Debt-to-Equity	N/A	N/A	2.55-3.2x	5.80	N/A	N/A	0.00	N/A
FCF Margin	6.2%-9.8pp	16.0%+2.4pp	13.6%+5.6pp	8.0%+39.2pp	-31.2%-17.1pp	-14.2%-73.5pp	59.3%+64.1pp	-4.8%

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	29.1%+0.9pp	28.2%+19.6pp	8.6%-18.3pp	26.9%0.0pp	26.8%+1.5pp	25.3%-3.2pp	28.5%-5.4pp	33.8%
Operating Margin	10.2%+7.0pp	3.2%+68.7pp	-65.5%-77.1pp	11.6%-1.2pp	12.8%+3.8pp	9.0%+60.7pp	-51.7%+5.6pp	-57.3%
Net Margin	7.1%+6.2pp	0.9%+65.4pp	-64.5%-73.0pp	8.5%-3.4pp	11.9%+6.4pp	5.5%+51.6pp	-46.1%+15.0pp	-61.1%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-219.2%
Return on Assets	1.6%+1.5pp	0.1%+10.2pp	-10.0%-12.1pp	2.1%-0.7pp	2.8%+1.6pp	1.2%+10.1pp	-8.9%+0.1pp	-9.0%
Current Ratio	2.20-0.1x	2.25-0.1x	2.31+0.4x	1.89-0.3x	2.22-0.2x	2.39+0.1x	2.28-0.1x	2.41
Debt-to-Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	10.05
FCF Margin	33.2%+49.8pp	-16.5%-32.5pp	16.0%+10.5pp	5.5%-4.7pp	10.3%+15.4pp	-5.1%-25.4pp	20.3%+1.4pp	18.9%

Note: Shareholder equity is negative (-$206.3M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

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Where Array Technologies, Inc. Ranks

Frequently Asked Questions

What is Array Technologies, Inc.'s annual revenue?

Array Technologies, Inc. (ARRY) reported $1.3B in total revenue for fiscal year 2025. This represents a 40.2% 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 Technologies, Inc.'s revenue growing?

Array Technologies, Inc. (ARRY) revenue grew by 40.2% year-over-year, from $915.8M to $1.3B in fiscal year 2025.

Is Array Technologies, Inc. profitable?

No, Array Technologies, Inc. (ARRY) reported a net income of -$52.2M in fiscal year 2025, with a net profit margin of -4.1%.

What is Array Technologies, Inc.'s EBITDA?

Array Technologies, Inc. (ARRY) had EBITDA of -$2.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Array Technologies, Inc. have?

As of fiscal year 2025, Array Technologies, Inc. (ARRY) had $244.4M in cash and equivalents against $658.7M in long-term debt.

What is Array Technologies, Inc.'s gross margin?

Array Technologies, Inc. (ARRY) had a gross margin of 23.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Array Technologies, Inc.'s operating margin?

Array Technologies, Inc. (ARRY) had an operating margin of -2.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Array Technologies, Inc.'s net profit margin?

Array Technologies, Inc. (ARRY) had a net profit margin of -4.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Array Technologies, Inc.'s free cash flow?

Array Technologies, Inc. (ARRY) generated $79.8M in free cash flow during fiscal year 2025. This represents a -45.6% 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 Technologies, Inc.'s operating cash flow?

Array Technologies, Inc. (ARRY) generated $101.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Array Technologies, Inc.'s total assets?

Array Technologies, Inc. (ARRY) had $1.5B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Array Technologies, Inc.'s capital expenditures?

Array Technologies, Inc. (ARRY) invested $22.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Array Technologies, Inc. spend on research and development?

Array Technologies, Inc. (ARRY) invested $9.9M in research and development during fiscal year 2025.

What is Array Technologies, Inc.'s current ratio?

Array Technologies, Inc. (ARRY) had a current ratio of 2.31 as of fiscal year 2025, which is generally considered healthy.

What is Array Technologies, Inc.'s return on assets (ROA)?

Array Technologies, Inc. (ARRY) had a return on assets of -3.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Why is Array Technologies, Inc.'s debt-to-equity ratio negative or not reported?

Array Technologies, Inc. (ARRY) has negative shareholder equity of -$206.3M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Array Technologies, Inc.'s Altman Z-Score?

Array Technologies, Inc. (ARRY) has an Altman Z-Score of 1.08, 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 Technologies, Inc.'s Piotroski F-Score?

Array Technologies, Inc. (ARRY) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 Technologies, Inc.'s earnings high quality?

Array Technologies, Inc. (ARRY) reported a net loss of $52.2M while generating $101.8M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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 Technologies, Inc. cover its interest payments?

Array Technologies, Inc. (ARRY) reported an operating loss of $29.0M against $27.3M 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 Technologies, Inc.?

Array Technologies, Inc. (ARRY) 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.