Financials Array Technologies, Inc.

Equities

ARRY

US04271T1007

Renewable Energy Equipment & Services

Market Closed - Nasdaq 04:00:00 2024-02-20 pm EST 5-day change 1st Jan Change
14.25 USD -2.80% Intraday chart for Array Technologies, Inc. -1.11% -15.18%

Valuation

Fiscal Period: December 2020 2021 2022 2023 2024 2025
Capitalization 1 5,479 2,119 2,909 2,217 2,217 -
Enterprise Value (EV) 1 5,798 2,472 3,545 2,751 2,532 2,297
P/E ratio 88 x -30.8 x -66.7 x 29.7 x 16.9 x 11.5 x
Yield - - - - - -
Capitalization / Revenue 6.28 x 2.48 x 1.78 x 1.43 x 1.18 x 1 x
EV / Revenue 6.64 x 2.9 x 2.16 x 1.77 x 1.35 x 1.03 x
EV / EBITDA 36.1 x 57.2 x 27.5 x 9.7 x 7.31 x 5.52 x
EV / FCF -46.9 x -9.27 x 27.1 x 12.9 x 14.9 x 8.71 x
FCF Yield -2.13% -10.8% 3.69% 7.74% 6.7% 11.5%
Price to Book -67.7 x 12.1 x 23.3 x 5.22 x 3.85 x 2.82 x
Nbr of stocks (in thousands) 126,994 135,027 150,491 151,216 151,216 -
Reference price 2 43.14 15.69 19.33 14.66 14.66 14.66
Announcement Date 3/9/21 4/5/22 3/21/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 647.9 872.7 853.3 1,638 1,551 1,878 2,221
EBITDA 1 - 160.5 43.22 128.7 283.7 346.6 416.4
EBIT 1 - 133.1 -24.74 -18.13 211.5 269.6 347.3
Operating Margin - 15.25% -2.9% -1.11% 13.63% 14.36% 15.64%
Earnings before Tax (EBT) 1 - 77.78 -61.12 -4.952 171.4 228.7 313.8
Net income 1 39.74 59.07 -66.12 -43.62 74.99 122.7 187.4
Net margin 6.13% 6.77% -7.75% -2.66% 4.83% 6.54% 8.44%
EPS 2 - 0.4900 -0.5100 -0.2900 0.4933 0.8665 1.278
Free Cash Flow 1 - -123.5 -266.5 130.9 212.8 169.5 263.6
FCF margin - -14.16% -31.24% 7.99% 13.72% 9.03% 11.87%
FCF Conversion (EBITDA) - - - 101.66% 75.03% 48.92% 63.3%
FCF Conversion (Net income) - - - - 283.84% 138.14% 140.66%
Dividend per Share 2 - - - - - - -
Announcement Date 10/8/20 3/9/21 4/5/22 3/21/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 202.8 192.1 219.9 300.6 424.9 515 402.1 376.8 507.7 350.4 316.1 398.1 496.1 519.7 495.4
EBITDA 1 16.17 -0.504 0.453 0.737 25.94 55.42 51.7 66.97 115.6 57.39 44.48 72.09 96.42 95.8 84.45
EBIT 1 9.688 -16.13 -20.01 -32.16 -6.844 18.52 16.35 47.46 96.24 40.2 27.6 51.27 77.12 79.16 66.47
Operating Margin 4.78% -8.4% -9.1% -10.7% -1.61% 3.6% 4.07% 12.6% 18.96% 11.47% 8.73% 12.88% 15.54% 15.23% 13.42%
Earnings before Tax (EBT) 1 -1.067 -29.54 -27.13 -34.5 -16.97 51.97 8.548 36.01 87.21 30.44 18.74 35.49 62.9 69.75 59.26
Net income 1 -0.017 -31.03 -32.14 -33.66 -14.96 28.56 -17.26 13.65 52.02 10.12 0.8418 16.42 38.33 38.56 31.32
Net margin -0.01% -16.16% -14.62% -11.2% -3.52% 5.55% -4.29% 3.62% 10.25% 2.89% 0.27% 4.12% 7.73% 7.42% 6.32%
EPS 2 - -0.2400 -0.2500 -0.2300 -0.1000 0.1900 -0.1100 0.0900 0.3400 0.0700 0.001950 0.1280 0.2676 0.2545 0.2168
Dividend per Share 2 - - - - - - - - - - - - - - -
Announcement Date 8/11/21 11/11/21 4/5/22 5/10/22 8/9/22 11/8/22 3/21/23 5/9/23 8/8/23 11/7/23 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 - 320 354 636 534 315 79.7
Net Cash position 1 - - - - - - -
Leverage (Debt/EBITDA) - 1.992 x 8.182 x 4.938 x 1.883 x 0.9101 x 0.1914 x
Free Cash Flow 1 - -124 -267 131 213 170 264
ROE (net income / shareholders' equity) - 100% 20% 208% 61.5% 40.5% 33.5%
ROA (Net income/ Total Assets) - 14.2% 0.97% 4.02% 9% 12.7% 16.9%
Assets 1 - 415.1 -6,812 -1,085 833.1 968.8 1,110
Book Value Per Share 2 - -0.6400 1.290 0.8300 2.810 3.810 5.190
Cash Flow per Share 2 - -1.010 -2.020 0.9400 1.250 1.660 2.090
Capex 1 - 1.34 3.36 10.6 14.9 16.5 17.3
Capex / Sales - 0.15% 0.39% 0.65% 0.96% 0.88% 0.78%
Announcement Date 10/8/20 3/9/21 4/5/22 3/21/23 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
D+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
25
Last Close Price
14.66 USD
Average target price
24.54 USD
Spread / Average Target
+67.41%
Consensus
+229% on MICROSOFT CORPORATION since our purchase on January 11, 2019
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