Array Technologies (FRA:9AY) EBIT: €-19 Mil (TTM As of Mar. 2026)


FRA:9AY Array Technologies Inc FRA:9AY
74 GF Score
Price €6.02
GF Value €8.21
Valuation Modestly Undervalued
! 3 Warning Signs
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What is Array Technologies EBIT?

Array Technologies FRA:9AY -3.22% 74 EBIT is €-19 Mil as of Mar. 2026. GuruFocus rates FRA:9AY with a GF Score™ of 74/100 and a GF Value™ of €8.21 (Modestly Undervalued). The stock has 3 warning signs investors should review.

Array Technologies's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was €8 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was €-19 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Array Technologies's annualized ROC % for the quarter that ended in Mar. 2026 was 0.86%. Array Technologies's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 8.83%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Array Technologies's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -1.03%.


Array Technologies  (FRA:9AY) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Array Technologies's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=15.648 * ( 1 - 51.6% )/( (848.526 + 920.093)/ 2 )
=7.573632/884.3095
=0.86 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1239.83 - 182.597 - ( 208.707 - max(0, 321.968 - 742.164+208.707))
=848.526

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1275.898 - 182.198 - ( 173.607 - max(0, 337.699 - 760.697+173.607))
=920.093

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Array Technologies's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=33.52/( ( (132.637 + max(226.841, 0)) + (135.517 + max(264.14, 0)) )/ 2 )
=33.52/( ( 359.478 + 399.657 )/ 2 )
=33.52/379.5675
=8.83 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(231.928 + 128.419 + 173.11) - (182.597 + 109.682 + 14.337)
=226.841

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(252.863 + 145.297 + 188.93) - (182.198 + 119.826 + 20.926)
=264.14

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Array Technologies's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=-19.218/1858.920
=-1.03 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Array Technologies EBIT Related Terms


Array Technologies EBIT Historical Data

* Premium members only.

The historical data trend for Array Technologies's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Array Technologies EBIT Chart

Array Technologies Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial -22.51 29.96 203.01 -206.04 -1.61

Array Technologies Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 28.97 56.92 41.31 -125.83 8.38

FRA:9AY vs CSIQ, JKS, SHLS: EBIT Comparison

For the Solar subindustry, Array Technologies's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Array Technologies EV-to-EBIT vs Semiconductors Industry

For the Semiconductors industry and Technology sector, Array Technologies's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Array Technologies's EV-to-EBIT falls into.


FRA:9AY
74GF Score
Array Technologies Inc FRA:9AY
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Array Technologies EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €-19 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of €-19 Mil mean?
Array Technologies (FRA:9AY) has a EBIT of €-19 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Array Technologies.
Is Array Technologies' EBIT too high?
Array Technologies' current EBIT is €-19 Mil. Overall, Array Technologies has a GF Score™ of 74/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Array Technologies' EBIT compare to CSIQ and JKS?
Array Technologies' EBIT of €-19 Mil can be compared against companies in the Semiconductors industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a Semiconductors company?
A good EBIT depends on the Semiconductors industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Array Technologies. Array Technologies's current EBIT is €-19 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Array Technologies stock overvalued right now?
Based on GuruFocus' analysis, Array Technologies (FRA:9AY) is currently considered Modestly Undervalued. The stock's GF Value™ is €8.21, compared to a current price of €6.02 — trading 26.7% below its estimated fair value. The current EBIT is €-19 Mil. Array Technologies' overall GF Score™ is 74/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Array Technologies (FRA:9AY), the current EBIT is €-19 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Array Technologies (FRA:9AY) Overvalued in 2026?

Based on GuruFocus' analysis, Array Technologies stock appears to be undervalued. The current stock price of €6.02 is trading 26.7% below its estimated GF Value™ of €8.21. GuruFocus considers Array Technologies to be Modestly Undervalued.

Key valuation signals for FRA:9AY:

  • EBIT: €-19 Mil
  • GF Value™: €8.21 vs. price of €6.02 (26.7% below fair value)
  • GF Score™: 74/100 with 3 warning signs

No single metric tells the full story. See the FRA:9AY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Array Technologies Business Description

Other Exchanges ARRY:USA9AY:Germany
Address 3901 Midway Place NE, Albuquerque, NM, USA, 87109
Array Technologies Inc manufacturer of ground-mounting systems used in solar energy projects. The company's segments include: the Array legacy operating segment (Array Legacy Operations) and the STI Operations operating segment (STI Operations). It derives maximum revenue from the Array legacy operating segment. Its product is an integrated system of steel supports, electric motors, gearboxes, and electronic controllers referred to as a single-axis tracker that moves solar panels throughout the day to maintain an optimal orientation to the sun, which increases their energy production. Geographically, the company's operations are in the United States, Australia, Spain, Brazil, and the rest of the world, with the United States deriving the majority of the revenue.
74GF Score

Get the complete analysis for FRA:9AY

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€6.02
Price
€8.21
GF Value