Company Valuation: Array Technologies, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 2,119 2,909 2,540 917.7 1,408 1,041 - -
Change - 37.31% -12.67% -63.87% 53.46% -26.09% - -
Enterprise Value (EV) 1 2,472 3,545 3,022 1,232 1,408 1,361 1,225 1,115
Change - 43.38% -14.75% -59.23% 14.31% -3.34% -10.04% -8.94%
P/E ratio -30.8x -66.7x 30x -3.1x -12.6x 26.2x 17.1x 16.2x
PBR 12.1x 23.3x 9.8x -7.77x - 2.73x 2.83x 2.63x
PEG - 1.5x -0x 0x 0.2x -0x 0.3x 2.85x
Capitalization / Revenue 2.48x 1.78x 1.61x 1x 1.1x 0.71x 0.66x 0.62x
EV / Revenue 2.9x 2.16x 1.92x 1.35x 1.1x 0.93x 0.78x 0.67x
EV / EBITDA 57.2x 27.5x 10.5x 7.1x 7.51x 6.23x 4.82x 4.03x
EV / EBIT -99.9x -195x 14.1x -5.43x -48.6x 9.59x 6.95x 5.55x
EV / FCF -9.27x 27.1x 14.1x 9.1x - 11.6x 8.39x 8.37x
FCF Yield -10.8% 3.69% 7.11% 11% - 8.62% 11.9% 11.9%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -0.51 -0.29 0.56 -1.95 -0.73 0.2599 0.399 0.4216
Distribution rate - - - - - - - -
Net sales 1 853.3 1,638 1,577 915.8 1,284 1,459 1,572 1,666
EBITDA 1 43.22 128.7 288.1 173.6 187.6 218.6 254.2 276.5
EBIT 1 -24.74 -18.13 214.1 -227 -29 141.9 176.3 200.9
Net income 1 -66.12 -43.62 85.55 -296.1 -112 39.21 72.43 86.2
Net Debt 1 353.6 635.7 481.4 314.3 - 320.3 183.7 74.19
Reference price 2 15.690 19.330 16.800 6.040 9.220 6.810 6.810 6.810
Nbr of stocks (in thousands) 1,35,027 1,50,491 1,51,216 1,51,943 1,52,748 1,52,849 - -
Announcement Date 05/04/22 21/03/23 27/02/24 27/02/25 25/02/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
26.2x0.93x6.23x-.--% 104.09Cr
38.93x2.77x19.16x1.14% 15TCr
20.18x3.06x15.03x0.98% 4.46TCr
40.55x1.21x16.67x1.29% 633.66Cr
-7.11x0.98x54.53x-.--% 606.2Cr
107.82x - - 0.19% 326.68Cr
24.92x - - 0.85% 211.18Cr
Average 35.93x 1.79x 22.32x 0.63% 3.03TCr
Weighted average by Cap. 34.58x 2.72x 19.16x 1.05%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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