What is Array Technologies, Inc.'s net debt / EBITDA?

Array Technologies, Inc. (ARRY) reported net debt / EBITDA of 141.8× in Q3 2025.

What is the long-term trend for Array Technologies, Inc.'s net debt / EBITDA?

Over 2 years (2020 to 2023), Array Technologies, Inc.'s net debt / EBITDA has grown at a -18.8% compound annual growth rate (CAGR), from 2.7× to 1.8×.

What does net debt / EBITDA mean?

Net debt (total debt minus cash) divided by trailing-twelve-month EBITDA. Expresses leverage in years — roughly how long it would take to repay net debt out of operating cash earnings.

Array Technologies, Inc. ARRY Net debt / EBITDA

Net debt / EBITDA at other companies

Gibraltar IndustriesROCK

10.5×+10.4×

Shoals Technologies Group, Inc.SHLS

0.5×-1.4×

Nextpower Inc. NXT

-1.4×+0.5×

SolarEdge TechnologiesSEDG

-1.4×-0.4×

Solaris Energy InfrastructureSEI

1.5×-1.0×

Enphase EnergyENPH

0.6×-3.1×

Other financials

Income statement

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Revenue$223.4M-26.1%

Gross profit$63.0M-17.6%

Operating income$7.1M-73.9%

Net income$2.0M-88.1%

EPS (diluted)-$0.09-550%

Balance sheet

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Cash & equivalents$202.0M-42.2%

Total debt$763.2M+12.4%

Total equity-$214.4M-119%

Total assets$1.5B+3.5%

Cash flow

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Operating cash flow-$29.4M-125%

CapEx$7.5M+219%

Free cash flow-$36.9M-140%

Valuation

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Market cap$1.18B+4.8%

Enterprise value$1.74B+19.6%

P/S1×-0.1×

Profitability

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Gross margin23.7%-6.3pp

Operating margin-4.1%-1.8pp

Net margin-5.6%-2.4pp

FCF margin4.8%-3.3pp

Returns & leverage

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Return on equity-64.1%—

Debt / equity10.5×+7.4×

Current ratio2.3×-0.1×

Where this comes from

Calculated from Array Technologies, Inc.’s reported figures.

net debt/ebitda=141.8×

Based on the most recent quarter.

The official record: Array Technologies, Inc.’s 10-Q, filed November 5, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Array Technologies, Inc.'s net debt / EBITDA?: Array Technologies, Inc. (ARRY) reported net debt / EBITDA of 141.8× in Q3 2025.
What is the long-term trend for Array Technologies, Inc.'s net debt / EBITDA?: Over 2 years (2020 to 2023), Array Technologies, Inc.'s net debt / EBITDA has grown at a -18.8% compound annual growth rate (CAGR), from 2.7× to 1.8×.
What does net debt / EBITDA mean?: Net debt (total debt minus cash) divided by trailing-twelve-month EBITDA. Expresses leverage in years — roughly how long it would take to repay net debt out of operating cash earnings.