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Stocks · Technology · Semiconductors & Related Devices

Array Technologies, Inc.

ARRY Clue Score37
United States Fiscal year ends December CIK 0001820721
$3.68 -1.87% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $3.68 −80.80% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 15 Oct 2020. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2018Revenue290.8Operating income−61.2Net income−60.8EPS, diluted−0.51Fiscal year 2019Revenue647.9 +122.8%Operating income83.4Net income39.7EPS, diluted0.33Fiscal year 2020Revenue872.7 +34.7%Operating income95.2Net income59.1 +48.6%EPS, diluted0.49 +48.5%Fiscal year 2021Revenue853.3 −2.2%Operating income−24.7Net income−50.4 −185.3%EPS, diluted−0.51 −204.1%Fiscal year 2022Revenue1,637.5 +91.9%Operating income−18.1Net income4.4EPS, diluted−0.29Fiscal year 2023Revenue1,576.6 −3.7%Operating income214.1Net income137.2 +2,996.6%EPS, diluted0.56Fiscal year 2024Revenue915.8 −41.9%Operating income−227.0Net income−240.4 −275.2%EPS, diluted−1.95 −448.2%Fiscal year 2025Revenue1,284.1 +40.2%Operating income−29.0Net income−52.2EPS, diluted−0.73
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 290.8 647.9 872.7 853.3 1,637.5 1,576.6 915.8 1,284.1
Growth +122.8% +34.7% −2.2% +91.9% −3.7% −41.9% +40.2%
Operating income −61.2 83.4 95.2 −24.7 −18.1 214.1 −227.0 −29.0
Net income −60.8 39.7 59.1 −50.4 4.4 137.2 −240.4 −52.2
Growth +48.6% −185.3% +2,996.6% −275.2%
EPS, diluted −0.51 0.33 0.49 −0.51 −0.29 0.56 −1.95 −0.73
Growth +48.5% −204.1% −448.2%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2018Gross margin4.0%Operating margin−21.0%Net margin−20.9%Free cash flow margin−4.7%Fiscal year 2019Gross margin23.3%Operating margin12.9%Net margin6.1%Free cash flow margin59.3%Fiscal year 2020Gross margin23.2%Operating margin10.9%Net margin6.8%Free cash flow margin−14.2%Fiscal year 2021Gross margin8.0%Operating margin−2.9%Net margin−5.9%Free cash flow margin−31.2%Fiscal year 2022Gross margin13.0%Operating margin−1.1%Net margin0.3%Free cash flow margin8.0%Fiscal year 2023Gross margin26.4%Operating margin13.6%Net margin8.7%Free cash flow margin13.6%Fiscal year 2024Gross margin32.5%Operating margin−24.8%Net margin−26.2%Free cash flow margin16.0%Fiscal year 2025Gross margin23.2%Operating margin−2.3%Net margin−4.1%Free cash flow margin6.2%
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 4.0% 23.3% 23.2% 8.0% 13.0% 26.4% 32.5% 23.2%
Operating margin −21.0% 12.9% 10.9% −2.9% −1.1% 13.6% −24.8% −2.3%
Net margin −20.9% 6.1% 6.8% −5.9% 0.3% 8.7% −26.2% −4.1%
Free cash flow margin −4.7% 59.3% −14.2% −31.2% 8.0% 13.6% 16.0% 6.2%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2018Operating cash flow−11.7Capital expenditure−2.1Free cash flow−13.8Fiscal year 2019Operating cash flow386.1Capital expenditure−1.7Free cash flow384.4Fiscal year 2020Operating cash flow−122.2Capital expenditure−1.3Free cash flow−123.5 −132.1%Fiscal year 2021Operating cash flow−263.2Capital expenditure−3.4Free cash flow−266.5Fiscal year 2022Operating cash flow141.5Capital expenditure−10.6Free cash flow130.9Fiscal year 2023Operating cash flow232.0Capital expenditure−17.0Free cash flow215.0 +64.3%Fiscal year 2024Operating cash flow154.0Capital expenditure−7.3Free cash flow146.7 −31.8%Fiscal year 2025Operating cash flow101.8Capital expenditure−22.0Free cash flow79.8 −45.6%
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −11.7 386.1 −122.2 −263.2 141.5 232.0 154.0 101.8
Capital expenditure −2.1 −1.7 −1.3 −3.4 −10.6 −17.0 −7.3 −22.0
Free cash flow −13.8 384.4 −123.5 −266.5 130.9 215.0 146.7 79.8
Growth −132.1% +64.3% −31.8% −45.6%

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2018Cash40.8Fiscal year 2019Cash310.3Total debt55.9Net cash (debt)254.3Shareholders’ equity305.2Debt to equity0.18Fiscal year 2020Cash108.4Total debt428.3Net cash (debt)−319.8Shareholders’ equity−80.9Fiscal year 2021Cash367.7Total debt715.4Net cash (debt)−347.7Shareholders’ equity−69.2Fiscal year 2022Cash133.9Total debt759.0Net cash (debt)−625.1Shareholders’ equity124.3Debt to equity6.11Fiscal year 2023Cash249.1Total debt682.4Net cash (debt)−433.3Shareholders’ equity259.2Debt to equity2.63Fiscal year 2024Cash363.0Total debt677.3Net cash (debt)−314.3Shareholders’ equity−118.1Fiscal year 2025Cash244.4Total debt669.0Net cash (debt)−424.6Shareholders’ equity−206.3
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 40.8 310.3 108.4 367.7 133.9 249.1 363.0 244.4
Total debt n/a 55.9 428.3 715.4 759.0 682.4 677.3 669.0
Net cash (debt) n/a 254.3 −319.8 −347.7 −625.1 −433.3 −314.3 −424.6
Shareholders’ equity n/a 305.2 −80.9 −69.2 124.3 259.2 −118.1 −206.3
Debt to equity n/a 0.18 n/a n/a 6.11 2.63 n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
290.8 647.9 872.7 853.3 1,637.5 1,576.6 915.8 1,284.1
Growth +122.8% +34.7% −2.2% +91.9% −3.7% −41.9% +40.2%
279.2 497.1 669.9 785.0 1,424.8 1,161.0 618.1 985.6
11.6 150.8 202.8 68.3 212.7 415.6 297.7 298.6
Growth +1,204.7% +34.5% −66.3% +211.4% +95.4% −28.4% +0.3%
n/a n/a n/a n/a 4.2 8.5 6.7 9.9
46.9 41.2 55.6 81.0 150.8 159.5 160.6 198.6
−61.2 83.4 95.2 −24.7 −18.1 214.1 −227.0 −29.0
Growth +14.2% −126.0% −206.0%
−80.7 64.6 77.8 −61.1 −5.0 177.2 −250.6 −29.2
−19.9 24.8 18.7 −10.7 −9.4 39.9 −10.2 23.0
−60.8 39.7 59.1 −50.4 4.4 137.2 −240.4 −52.2
Growth +48.6% −185.3% +2,996.6% −275.2%
Per share
−0.51 0.33 0.49 −0.51 −0.29 0.57 −1.95 −0.73
−0.51 0.33 0.49 −0.51 −0.29 0.56 −1.95 −0.73
Growth +48.5% −204.1% −448.2%
120.0 120.0 121.5 130.0 149.8 150.9 151.8 152.5
120.0 120.0 121.5 130.0 149.8 152.0 151.8 152.5
Growth +0.0% +1.3% +7.0% +15.3% +1.5% −0.2% +0.5%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 8.0% a year over five years.
  • The diluted share count rose 25.5% in five years, which is dilution.
  • Operating margin is down 13.2 points on five years ago, at -2.3%.
  • A net loss in 4 of 8 years on file.