ARRY
Array Technologies, Inc.

Array Technologies, Inc.ARRY

Technology · Solar
3.96USD
-2.70%
Sep 23, 2026
ARRY overview ready
Direct supplier of solar tracker systems optimizing utility-scale solar deployment
ARRAY is a direct supplier of utility-scale solar tracker systems and has expanded its offering into fixed-tilt, foundations, software/control systems, field services, and related balance-of-system products.
Narrative is still early
Exposed to the Utility-Scale Solar Deployment narrative through Solar Tracker and Balance-of-System Optimization — pure play.
Price trend is broken
Longer-term context reads damaged structure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
Fair valuation
The price broadly reflects the cash the business actually produces, with upside and risk reasonably balanced.
Solid fundamentals
Free cash flow yield is strong.
Primary risk
Decline in solar project installations.
Market Sep 22Price action Sep 22Research Aug 28

Conviction Level

NarrativeHeat5.0ThemeHeat6.3PriceAction1.4Valuation3.5CompanyPosition7.3
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads damaged structure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
EntryDamaged / breakdown

The technical structure itself is broken across timeframes — the weakest entry profile.

Key Financials

Market Cap
$625.1M
Avg Volume (60D)
6.7M
60 sessions
Revenue Growth YoY
+1.2%
Trailing twelve months
Gross Margin
+26.8%
Operating Margin
+3.6%
Trailing twelve months
Free Cash Flow Yield
+21.1%
Distance from 200DMA
-48.4%
Next Earnings
2026-11-04
P/E
N/M
EV / EBITDA
9.0x
EV / Sales
0.9x
Market metrics as of Sep 22, 2026

Fundamentals & Valuation

All three valuation perspectives agree this company is cheap. The published stance is held at fair because net debt above 60% of market capitalisation — refinancing risk may explain the price.
Array Technologies, Inc. has a Fair valuation stance because the price broadly reflects the cash the business actually produces, with upside and risk reasonably balanced.

Company Research

Thesis
ARRAY is a direct supplier of utility-scale solar tracker systems and has expanded its offering into fixed-tilt, foundations, software/control systems, field services, and related balance-of-system products.
Opportunity
Moderate opportunity
Utility-scale solar developers' spending on tracking, foundations, controls, and related balance-of-system equipment that raises energy yield, reduces site-preparation and installation costs, and improves project execution.
Key risk
Decline in solar project installations.

Narrative & Theme

Utility-Scale Solar Deployment
Part of Solar Tracker and Balance-of-System Optimization, with strong fit.
ARRY has a specific, direct, revenue-linked exposure to utility-scale solar construction rather than a generic renewable-energy adjacency. U.S.
Narrative HeatNeutral5.0 / 10
Theme HeatNeutral6.3 / 10
This is the company’s own research reading. The canonical heat measurement for this story has not run.

Business & Markets

Technology · Solar
What they do

Array Technologies manufactures and sells solar tracking technology products globally, operating through two segments: Array Legacy Operations and STI Operations.

How it earns

The company generates revenue primarily through transactional sales of solar tracking hardware and related software products.

Products & services
DuraTrack HZ V3 single axis tracker
Array STI H250 dual-row tracker system
Array OmniTrack
Array SkyLink control tracker system
SmarTrack software and control product
Customers & end markets
Solar power project developers
Solar power plant operators
Market position

A leading provider of solar tracking systems with a significant presence in multiple international markets.

Demand drivers
Medium cyclicality

Demand is influenced by solar project development cycles and renewable energy policy changes.