Array Technologies, Inc.

NasdaqGM:ARRY Stock Report

Market Cap: US$723.8m

Array Technologies Valuation

Is ARRY undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ARRY when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

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Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: ARRY ($4.48) is trading below our estimate of future cash flow value ($8.1)

Significantly Below Future Cash Flow Value: ARRY is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ARRY?

Key metric: As ARRY is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for ARRY. This is calculated by dividing ARRY's market cap by their current revenue.
What is ARRY's PS Ratio?
PS Ratio0.6x
SalesUS$1.19b
Market CapUS$723.84m

Price to Sales Ratio vs Peers

How does ARRY's PS Ratio compare to its peers?

The above table shows the PS ratio for ARRY vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average7.4x
ADSE ADS-TEC Energy
23.7xn/aUS$869.8m
LYTS LSI Industries
1x10.54%US$708.0m
SHLS Shoals Technologies Group
2x8.04%US$1.2b
ALNT Allient
2.8x7.13%US$1.6b
ARRY Array Technologies
0.6x8.68%US$723.8m

Price-To-Sales vs Peers: ARRY is good value based on its Price-To-Sales Ratio (0.6x) compared to the peer average (7.4x).

Historical Price to Sales Ratio

Historical Price to Sales Ratio compares a stock's price to its sales over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Sales Ratio vs Industry

How does ARRY's PS Ratio compare vs other companies in the US Electrical Industry?

30 CompaniesPrice / SalesEstimated GrowthMarket Cap
EAF GrafTech International
0.3x9.86%US$164.38m
CBAT CBAK Energy Technology
0.4x38.10%US$88.64m
SPWR SunPower
0.2x13.59%US$69.74m
APWC Asia Pacific Wire & Cable
0.1xn/aUS$57.73m
ARRY 0.6xIndustry Avg. 2.0xNo. of Companies30PS0246810+
30 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: ARRY is good value based on its Price-To-Sales Ratio (0.6x) compared to the US Electrical industry average (2x).

Price to Sales Ratio vs Fair Ratio

What is ARRY's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ARRY PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.6x
Fair PS Ratio1.2x

Price-To-Sales vs Fair Ratio: ARRY is good value based on its Price-To-Sales Ratio (0.6x) compared to the estimated Fair Price-To-Sales Ratio (1.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ARRY forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$4.48
US$8.92
+99.12%
22.57%US$13.00US$5.00n/a22
Sep ’27US$4.36
US$9.11
+108.88%
20.48%US$13.00US$6.00n/a21
Aug ’27US$5.22
US$9.82
+88.06%
22.46%US$16.00US$6.00n/a21
Jul ’27US$7.17
US$10.27
+43.27%
18.43%US$16.00US$8.00n/a22
Jun ’27US$8.82
US$10.23
+15.96%
18.57%US$16.00US$8.00n/a22
May ’27US$7.84
US$9.86
+25.81%
20.80%US$16.00US$7.00n/a22
Apr ’27US$7.55
US$10.04
+33.03%
21.47%US$16.00US$6.00n/a23
Mar ’27US$7.58
US$10.55
+39.24%
19.64%US$16.00US$8.00n/a24
Feb ’27US$11.33
US$11.05
-2.39%
19.70%US$15.00US$6.00n/a24
Jan ’27US$9.22
US$10.97
+19.00%
18.93%US$15.00US$8.00n/a25
Dec ’26US$7.47
US$10.93
+46.35%
19.08%US$15.00US$8.00n/a25
Nov ’26US$8.66
US$10.22
+18.02%
22.40%US$15.00US$6.00n/a24
Oct ’26US$9.11
US$9.31
+2.25%
23.17%US$13.00US$6.00n/a24
Sep ’26US$9.01
US$9.25
+2.69%
25.53%US$13.00US$6.00US$4.3622
Aug ’26US$6.06
US$9.13
+50.69%
24.39%US$13.00US$5.00US$5.2222
Jul ’26US$6.64
US$8.95
+34.79%
26.47%US$13.00US$5.00US$7.1722
Jun ’26US$6.60
US$8.73
+32.35%
26.47%US$13.00US$5.00US$8.8223
May ’26US$5.15
US$8.01
+55.58%
28.39%US$13.00US$4.50US$7.8424
Apr ’26US$4.86
US$8.60
+76.87%
23.41%US$13.00US$6.00US$7.5524
Mar ’26US$5.28
US$9.43
+78.69%
34.21%US$22.00US$6.00US$7.5823
Feb ’26US$7.33
US$10.10
+37.79%
33.95%US$22.00US$4.50US$11.3325
Jan ’26US$6.04
US$10.22
+69.21%
32.87%US$22.00US$4.50US$9.2225
Dec ’25US$6.71
US$10.42
+55.29%
34.43%US$22.00US$4.50US$7.4725
Nov ’25US$6.70
US$12.00
+79.10%
30.73%US$22.00US$7.00US$8.6626
Oct ’25US$6.80
US$13.50
+98.53%
31.36%US$23.00US$8.00US$9.1126
Sep ’25US$6.71
US$13.44
+100.36%
30.97%US$23.00US$8.00US$9.0127
US$8.92
Fair Value
49.8% undervalued intrinsic discount
22
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/09 05:10
End of Day Share Price 2026/09/09 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Array Technologies, Inc. is covered by 32 analysts. 18 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Benjamin KalloBaird
Christine ChoBarclays
Ameet ThakkarBMO Capital Markets Equity Research