Array Technologies Inc (ARRY) Fair Value & Analysis
Technology · US · Market cap $1.2B · ISIN US04271T1007
What is Array Technologies Inc really worth?
Array Technologies Inc
ARRY · US
A solid business, but trading 36% above our fair value of $3.35.
Risks
Fair value as of: Aug 30, 2026
From 7 valuation models · updated 6 days ago
Share price −24.5% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The model range is unusually wide ($1.33 to $5.38). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.
How to read this chart
60‑month range $3.98 – $27.09 · fair‑value band $1.33 – $5.38 · the $4.54 price screens above the $3.35 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 30, 2026.
Analysis
Array Technologies Inc (ARRY) currently trades at $4.54, while our model-based Fair Value estimate is $3.35, implying the stock looks roughly 35.5% overvalued today. The Quality Score stands at 55/100 (solid quality), in the Technology sector. Bull case: the Growth DCF group reads highest at a median of $7.81 per share, and 5 of the 7 models we run sit above the $4.54 price. Bear case: the Asset-Based group reads lowest at $1.13, and 2 of the 7 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, Array Technologies Inc generated revenue of $1.2B at a net margin of −5.6%. Revenue declined 26.1% year over year. It earns a return on equity of −22.7%. Net debt stands at $522M. Fundamentals as of Aug 30, 2026
Our scenario range runs from $1.33 (bear case) to $5.38 (bull case); at $4.54, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 63% below its 52-week high, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at −6% fair-value upside, at −26%, ARRY screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 7 models by family
Widest divergence: Growth DCF ($7.81) versus Asset-Based ($1.13). Highest evidence: FCF DCF (71).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 51 · Market factors (momentum, volatility) 1
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Array Technologies, Inc. engages in the manufacture and sale of solar tracking technology products in the United States, Spain, Brazil, Australia, and internationally. It operates through two segments, Array Legacy Operations and STI Operations.
Full company description
Array Technologies, Inc. engages in the manufacture and sale of solar tracking technology products in the United States, Spain, Brazil, Australia, and internationally. It operates through two segments, Array Legacy Operations and STI Operations. The company's products portfolio includes DuraTrack HZ V3, a single axis tracker; Array STI H250, a dual-row tracker system; Array OmniTrack; Array SkyLink, a photovoltaic-powered control tracker system; and SmarTrack, a software and control-based product. Array Technologies, Inc. was incorporated in 1987 and is headquartered in Albuquerque, New Mexico.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Array Technologies Inc reported revenue of $1.3B in FY2025 versus $853M in FY2021, a compound +10.8%/yr. Reported net income was −$52.2M in FY2025.
ARRY screens 36% overvalued. Compare with First Solar, Inc →
Peer Group
Solar · 109 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Solar median · lower = cheaper
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Solar stocks, each showing price versus our Fair Value estimate (as of Aug 30, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| First Solar, Inc FSLR | $210.10 | $392.12 | +87% |
| Nextpower Inc NXT | $103.67 | $69.61 | −33% |
| Waaree Energies Limited WAAREEENER | ₹2,624 | ₹2,709 | +3% |
| Tongwei Co 600438 | ¥12.89 | ¥12.13 | −6% |
| Jinko Solar Co 688223 | ¥4.16 | ¥6.47 | +56% |
| Enphase Energy, Inc ENPH | $39.25 | $24.15 | −38% |
| CSI Solar Co 688472 | ¥10.28 | ¥6.76 | −34% |
| Hengdian Group 002056 | ¥21.53 | ¥31.86 | +48% |
| Premier Energies Limited PREMIERENE | ₹1,017 | ₹648.94 | −36% |
| Trina Solar Co 688599 | ¥12.77 | ¥7.97 | −38% |
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