QualityDipStocks / Telecommunications · Telecommunications Equipment
Array Digital Infrastructure AD
Outside our quality screen, so we don’t track its dips. It’s 44% below its 52-week high.
Outside our quality screen, 4% under its Market Value. No fair value estimate for now: its free cash flow is negative.
Worth knowing
- Lowest close since Feb 2024
From the data on this page, as of the last close. How we pick these
- Fair value est.
- n/a
- Market Value
- $35.16price −4%
- Off 52-wk high
- −44%
- Risk vs market
- Lowbeta 0.16
5 bullish · 5 bearish See why
Repriced or dip?
Mixed signals
The price is 44% below its 52-week high (Jan 22), but the business held up: earnings per share +3225.1%, net cash (cash minus debt) +3.1% of market cap since the high, shares outstanding fewer shares, each owns more.
Some numbers held up (earnings per share +3225.1%, net cash (cash minus debt) +3.1% of market cap since the high, shares outstanding fewer shares, each owns more), others slipped (revenue −94.4%). The price is 44% below its 52-week high.
The price is 44% below its 52-week high, and the business changed too: revenue −94.4%.
Within 10% of its 52-week high, so there is no dip to judge yet.
The evidence 7 numbers, high vs now
- Revenue, last 12 months$3.8B → $214M (−94.4%)changed
- Earnings per share, 12 months$0.19 → $6.21 (+3225.1%)held up
- Shares outstanding−0.8% (fewer shares, each owns more)held up
- Net cash (cash minus debt)+3.1% of market cap since the highheld up
- Stock vs its sector (Telecommunications)stock −44%, sector median −9% since Jan 22changed
- Price fall vs business numbersprice −44%, revenue/EPS/FCF median +1565% (shown, not scored)
- Valuation multipleP/E 322.6× at the high → 5.4× now (shown, not scored)
Business numbers as reported at the high (12 months to Sep 30, 2025) vs the latest filing (12 months to Jun 30, 2026). Each measure is scored from −1 (business changed) to +1 (business intact) and weighted: revenue, earnings per share, free cash flow, operating margin, revenue growth rate, share count, net cash and the move vs its sector. 60 or more reads as a dip, 40 or less as a repricing. Analyst estimates are not in our data, so they are not used. How to read it
Data-based read, not advice.
Priced in
How much growth the market assumed at the 52-week high, the low and today (a reverse DCF).
52-wk high: P/E 322.6×; 52-wk low: P/E 5.1×; now: P/E 5.4×.
| High | Low | Now | |
|---|---|---|---|
| Price | $60.28Jan 22 | $31.80Oct 28 | $33.65 |
| Implied growth | n/a | n/a | n/a |
| P/E | 322.6× | 5.1× | 5.4× |
| EV/Sales | 1.5× | 14.1× | 14.8× |
What this means: a lower P/E than at the high means you pay less for each dollar of profit than buyers did then.
How it’s computed
Reverse DCF: the same 10-year free-cash-flow model as our fair value estimate (9.5% discount rate, growth for years 1–5 fading to 3% by year 10, 3% after), solved for the growth that makes it equal the market value at each price. For the high and the low we use only the filings that were public on that day, so nothing from a later report leaks back. Market value = that close × diluted shares. P/E = market value / 12-month net income; Price / FCF = market value / 12-month free cash flow; EV / Sales = (market value + debt − cash) / 12-month revenue. Hidden when the share count moved over 20% (split, merger), free cash flow is negative, or the company reports in another currency.
Valuation
What we estimate it's worth, and how it ranks on value vs every stock we cover.
Fair value estimate
No estimate for AD: negative free cash flow. We’d rather show nothing than a made-up number.
Risk vs market
How risk vs market is measured
One year of daily returns (Oct 31 to Nov 2, 252 sessions). Beta = how much AD moved for each 1% move in the S&P 500 (SPY); 1.0 moves with the market. Volatility is the yearly standard deviation of daily returns. Past behavior, not a forecast.
Has moved mostly independently of the market, but its own price swings are 3.3× the S&P 500’s (it moves on its own news).
- Beta vs S&P 500
- 0.16
- Volatility
- 43% vs 13% SPY
- Correlation SPY
- 0.05
- Correlation QQQ
- −0.01
How it ranks
Where AD stands vs every one of the 1,996 stocks we cover that has the number. Longer bar = better.
Top quarter on 1 of 3 measures
- Free cash flow yield−12% · free cash flow vs market capLowest 2%of 1,391
- Dividends + buybacks yield5.2% · cash paid out or used to retire shares, vs market capTop 25%of 1,836
- Return on invested capital28% · profit per dollar of capitalTop 12%of 838
From SEC filings and our fair value estimate model. A ranking, not advice.
Valuation details
MV $35.16
Fundamentals
The business itself: sales, profits, cash and debt, from SEC filings.
Bull vs bear
Rule-based from the data on this page, strongest first. Not advice.
Top bullish points 5 of 5
ProfitabilityGross margin widened to 51.2% in FY2025 from 32.4% in FY2023 (SEC filings).
ProfitabilityOperating margin widened to −56.8% in FY2025 from −111.7% in FY2023 (SEC filings).
ValuationP/E of 5.4× vs a 14.4× median for the 26 Telecommunications companies we cover.
Balance sheetPaid down debt: $674M at FY2025, 78% less than at FY2023.
ValuationTrades 4.3% below its Market Value of $35.16, the average price paid since the Aug 7 filing.
Top bearish points 5 of 5
ValuationFree cash flow is negative (−$338M over the last 12 months), so there’s no cash-flow value under the price.
ValuationFree-cash-flow yield of −12%, below the 11% median for the 31 Telecommunications companies we cover.
ValuationPrice / book of 2.3×, above the 2.0× median for the 29 Telecommunications companies we cover.
QualityDoesn’t pass our quality screen: no positive free cash flow; net debt 14.7× EBITDA (limit 3×).
RiskReports earnings Nov 6 (consensus EPS $0.07): results can move the price sharply and reset Market Value.
All fundamentals
P/E 5.4 · FCF yield -11.7% · ROE 18%
Valuation
- P/E
- 5.4×Telecommunications median 14.4×
- Price / FCF
- n/anegative free cash flow
- FCF yield
- −11.7%
- EV / EBITDA
- 5.7×
- Price / sales
- n/aneeds total revenue: the SEC revenue tag covers only part of this company's revenue (it is under 1.5x net income)
- Price / book
- 2.29×
- Market cap
- $2.9Blisted
- Enterprise value
- $3.2B
Growth
- Revenue, 12 months
- n/athe SEC revenue tag covers only part of this company's revenue (it is under 1.5x net income)
- Sales growth, 12 months
- n/aneeds total revenue: the SEC revenue tag covers only part of this company's revenue (it is under 1.5x net income)
- Sales growth, 3 yrs
- n/aneeds total revenue: the SEC revenue tag covers only part of this company's revenue (it is under 1.5x net income)
- Diluted EPS, 12 months
- $6.19
- EPS growth, last FY
- n/afewer than two years of diluted EPS
- Net income, 12 months
- $536M
- Net income growth
- n/anot reported in its SEC filings
Profitability
- Gross margin
- 58.4%
- Operating margin
- n/an/m
- Net margin
- n/aneeds total revenue: the SEC revenue tag covers only part of this company's revenue (it is under 1.5x net income)
- FCF margin
- −158.3%
- Return on equity
- 18%
- Return on invested capital
- 28%
Balance sheet
- Cash & short-term inv.
- $416M
- Total debt
- $675M
- Net cash
- −$258M
- Debt / equity
- 0.53×
- Interest coverage
- 13.3×operating income / interest
Cash flow & returns
- Free cash flow, 12 months
- −$338M
- FCF growth, 12 months
- n/anot reported in its SEC filings
- Dividend yield
- 5.17%$150M paid
- Payout ratio
- 28%
- Buybacks, 12 months
- $0
- Share count, 1 year
- −1.5%diluted shares vs a year ago
- Stock-based comp
- $665,000
Trailing 12 months to Jun 30, 2026; balance sheet at Jun 30, 2026. From Array Digital Infrastructure’s SEC filings. Sparklines show up to six fiscal years. n/a means we don’t hold that number, with the reason. How each is computed.
The business
FCF $-0.3B · Sales +90%
- Free cash flow, 12 months−$0.3B
- Free-cash-flow yield-11.7%
- Gross margin58%
- Operating margin−12%
- Return on invested capital−1%
- Return on equity23%
- Sales growth (latest quarter vs year-ago quarter)+90%
- Net debt / EBITDA14.7×
Chart & levels
Where the price is vs its key levels and trends.
Key levels
Every level vs today’s $33.65
- 52-wk lowlowest close, 1 year$31.80−5.5%
- PriceMon Nov 2 close$33.65you are here
- Market Valueavg paid since Aug 7$35.16+4.5%
- 52-wk highhighest close, 1 year$60.28+79.1%
Momentum & 52-week range
RSI 50 · 5 days +0.7%
Signals
Reversal signal setups, the public ledger and the next earnings date.
Setup & signals
No setup armed
No setup armed, so there’s no trigger or stop to track yet. Reversal signal rules only run on companies that pass our quality screen.
Next report
Nov 6
- DateFri Nov 6, before the open
- Consensus EPS$0.07
- Year-ago EPS$0.97
- QuarterSep/2026
From Nasdaq’s earnings calendar. A report resets Market Value.
AD is outside our quality screen
One text when a published rule fires on one of the 332 quality companies we track: the ticker, the price, the stop and a link to the numbers. Nothing else.
Voices & buzz
Who is talking about it, and how it compares with peers.
Who’s talking about it
Notable investors, executives, analysts and public figures on Array Digital Infrastructure in the last 48 hours. Headlines as published, each linked. Their words, not ours.
No notable mentions in the last 48 hours. Checked Nov 3, 1:01 PM ET.
Compare with peers
Closest in size in Telecommunications Equipment
Information only, not investment advice. Fair value estimates and talking points are rule-based model output from public data and can be wrong; stop levels are reference points, not orders. How every number is computed.