Array Technologies (FRA:9AY) ROCE %: 3.61% (As of Mar. 2026)

What is Array Technologies ROCE %?

Array Technologies FRA:9AY -3.22% 74 ROCE % is 3.61% 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.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Array Technologies's annualized ROCE % for the quarter that ended in Mar. 2026 was 3.61%.

Array Technologies (FRA:9AY) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Array Technologies ROCE % Related Terms

Array Technologies ROCE % Historical Data

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The historical data trend for Array Technologies's ROCE % 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 ROCE % Chart

Array Technologies Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

ROCE %

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-4.11

3.05

16.72

-18.72

-0.17

Array Technologies Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
ROCE %	Get a 7-Day Free Trial															12.30	24.32	17.28	-52.98	3.61

74GF Score

Array Technologies Inc FRA:9AY

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Array Technologies ROCE % Calculation

Array Technologies's annualized ROCE % for the fiscal year that ended in Dec. 2025 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2025 )		(A: Dec. 2024 )		(A: Dec. 2025 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2025 )		(A: Dec. 2024 )		(A: Dec. 2025 )
	=	-1.611	/	( ( (1361.829 - 418.112)	+	(1239.83 - 321.968) )	/ 2 )
	=	-1.611	/	( (943.717	+	917.862)	/ 2 )
	=	-1.611	/	930.7895
	=	-0.17 %

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

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Mar. 2026 )		(Q: Dec. 2025 )		(Q: Mar. 2026 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Mar. 2026 )		(Q: Dec. 2025 )		(Q: Mar. 2026 )
	=	33.52	/	( ( (1239.83 - 321.968)	+	(1275.898 - 337.699) )	/ 2 )
	=	33.52	/	( ( 917.862	+	938.199 )	/ 2 )
	=	33.52	/	928.0305
	=	3.61 %

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

Frequently Asked Questions Learn more about ROCE % →

What does a ROCE % of 3.61% mean?

Array Technologies (FRA:9AY) has a ROCE % of 3.61% as of Mar. 2026.

Is Array Technologies' ROCE % too high?

Array Technologies' current ROCE % is 3.61%. The Semiconductors industry median ROCE % is 4.84. Array Technologies' value of 3.61% is 25.4% below this industry median. 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' ROCE % compare to CSIQ and JKS?

Array Technologies' ROCE % of 3.61% can be compared against companies in the Semiconductors industry. The industry median ROCE % is 4.84. Array Technologies' value of 3.61% is 25.4% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good ROCE % for a Semiconductors company?

The median ROCE % among Semiconductors companies is 4.84, based on 1,015 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Array Technologies's current ROCE % of 3.61% is 25.4% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high ROCE % mean?

A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Semiconductors industry, the median ROCE % is 4.84 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Array Technologies's current ROCE % is 3.61%. 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 ROCE % is 3.61% and 25.4% below the Semiconductors industry median of 4.84. 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 ROCE % calculated?

ROCE % is calculated from a company's financial statements. For Array Technologies (FRA:9AY), the current ROCE % is 3.61% 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:

ROCE %: 3.61%
GF Value™: €8.21 vs. price of €6.02 (26.7% below fair value)
GF Score™: 74/100 with 3 warning signs
Industry Position: 25.4% below the Semiconductors median

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

Industry Technology Semiconductors

Comparable Companies CSIQ JKS SHLS TOYO TYGO HYSR SPWR FTCI PN SPRU FSLR NXT NSE:WAAREEENER SHSE:600438 SZSE:002056 SHSE:688223 ENPH SHSE:688472 NSE:PREMIERENE SHSE:688599

Other Exchanges ARRY:USA 9AY:Germany

Address 3901 Midway Place NE, Albuquerque, NM, USA, 87109

Website https://www.arraytechinc.com

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

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

€6.02

Price

€8.21

GF Value

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