ARRY vs TOYO vs WNDW Stock Comparison

Array Technologies, Toyo and SolarWindow Technologies Prices as of Oct 29, 2026 Peers: Industry group
TOYO TOYO Co., Ltd
$4.70 +10.3% 1M -34.3% 1Y
Market cap
$134.91M
P/E
2.7x
Revenue (TTM)
$400.07M
Div. yield
–
Solar Equipment Industrials
4 wins

Head to Head

9 decided of 12

Toyo leads on 4 of the 12 questions below (Toyo 4, SolarWindow Technologies 3, Array Technologies 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionARRYTOYOWNDWLeader
Larger companyMarket capitalisation $516.22M $134.91M $83.54M ARRY
Cheaper on earningsLower P/E, profitable companies only -3.5x 2.7x -35.4x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS 4.5x 2.3x — TOYO
Faster revenue growthRevenue growth, trailing twelve months +1.2% — +61.8% WNDW
More profitableNet margin, trailing twelve months -12.5% 12.3% -1,517.3% TOYO
Better return on capitalReturn on invested capital -13.4% 26.6% — TOYO
Less leveragedLower net debt / EBITDA -302.9x — — –
Higher dividend yieldTrailing dividend yield 0.00% 0.00% 0.00% –
Better 1-year returnPrice return, last 12 months -60.1% -34.3% +150.0% WNDW
Better 5-year returnAnnualised price return, 5 years -30.1%/yr — -27.5%/yr WNDW
Less volatileAnnualised volatility, 1 year 79.1% 98.6% 173.2% ARRY
Higher overall scoreMean of the five percentile scores vs peers 56/100 86/100 47/100 TOYO

Percentile Scorecard

ARRYTOYOWNDW

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisARRYTOYOWNDW
Valuation 95 #4 of 62 100 #1 of 62 43 #36 of 62
Growth 28 #43 of 59 – 41 #35 of 59
Profitability 67 #19 of 55 98 #2 of 55 9 #50 of 55
Financial Health 35 #47 of 72 59 #30 of 72 96 #4 of 72
Shareholder Returns – – –
Overall 56 86 47
  • ARRY ranked among 72 companies in Clean Energy Equipment
  • TOYO ranked among 72 companies in Clean Energy Equipment
  • WNDW ranked among 72 companies in Clean Energy Equipment

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodARRYTOYOWNDWSPY
1 month -10.8%+10.3%-31.6% +0.7%
3 months -29.9%-9.1%+400.0% +3.7%
6 months -54.0%-60.0%+282.4% +7.1%
Year to date -61.4%-19.8%+209.5% +12.8%
1 year -60.1%-34.3%+150.0% +11.9%
3 years -79.3%-56.5%+54.8% +85.2%
3 years, per year -40.8%-24.2%+15.7% +22.8%
5 years -83.3%—-79.9% +67.6%
5 years, per year -30.1%—-27.5% +10.9%
10 years ——-64.5% +262.0%
10 years, per year ——-9.8% +13.7%

Risk

MeasureARRYTOYOWNDWSPY
Volatility, 1Y 79.1%98.6%173.2% 12.7%
Downside volatility, 1Y 88.6%110.5%149.3% 12.6%
Beta vs S&P 500, 1Y 3.131.381.33 1.00
Return / volatility, 1Y -0.76-0.350.87 0.94
Max drawdown, 5Y -88.4%-86.3%-99.7% -25.4%
From 52-week high -70.2%-72.3%-36.6% -1.2%
52-week high $11.96$16.99$2.05 $779.14
52-week low $3.15$3.81$0.25 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleARRYTOYOWNDW
P/E now vs peer median -3.7xmedian 26.6x 2.9xmedian 26.6x -36.2xmedian 26.6x
P/S now vs peer median 0.5xmedian 2.6x 0.4xmedian 2.6x 549.3xmedian 2.6x
EV/EBITDA now vs peer median -776.8xmedian 18.9x —median 18.9x -32.5xmedian 18.9x
P/FCF now vs peer median 4.1xmedian 30.1x 6.7xmedian 30.1x -38.3xmedian 30.1x
P/B now vs peer median -2.7xmedian 1.9x 0.8xmedian 1.9x 18.6xmedian 1.9x
PEG now vs peer median 0.07median 0.97 —median 0.97 -4.81median 0.97

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsARRYTOYOWNDW
Revenue $1.19B $400.07M $155.68K
Gross profit $287.61M $107.81M –
Operating income -$60.78M $68.50M -$2.50M
Net income -$85.90M $48.32M -$2.39M
Free cash flow $134.73M $26.58M -$2.23M
R&D – – $637.23K
EPS (diluted) $-0.95 $1.62 $-0.04
Cash & equivalents $307.30M $103.47M $4.79M
Total debt $657.75M $132.75M –
Shares (diluted) 155.69M 30.33M 65.78M
Enterprise value -$457.69M -$129.05M $78.75M

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricARRYTOYOWNDW
P/E -3.7x 2.9x -36.2x
P/FCF 4.1x 6.7x -38.3x
P/Operating cash flow 3.4x 1.7x -38.3x
P/S 0.5x 0.4x 549.3x
P/B -2.7x 0.8x 18.6x
P/Tangible book -1.3x 0.8x 18.6x
EV/EBITDA -776.8x – -32.5x
EV/EBIT -14.8x 1.5x -32.3x
EV/Revenue 0.8x 0.2x 518.5x
EV/FCF 6.7x 3.8x -36.1x
EV/Operating cash flow 5.5x 1.0x -36.1x
PEG (3Y EPS CAGR) 0.07 – -4.81

Growth

14 metrics
MetricARRYTOYOWNDW
Revenue growth (1Y) 1.2% – 61.8%
Revenue CAGR (3Y) -13.0% – 9.4%
Gross profit growth (1Y) -12.9% – –
Gross profit CAGR (3Y) -10.2% – –
Operating income growth (1Y) 69.8% – -0.2%
Operating income CAGR (3Y) -32.8% – -1.4%
Net income growth (1Y) 58.8% – -0.6%
Net income CAGR (3Y) -38.6% – 40.0%
EPS growth (1Y) 45.3% – 20.3%
EPS CAGR (3Y) -55.9% – 7.5%
Operating cash flow growth (1Y) 22.2% – -40.0%
Operating cash flow CAGR (3Y) -15.4% – 1.6%
Free cash flow growth (1Y) 22.2% – -40.0%
Free cash flow CAGR (3Y) -18.9% – -2.1%

Profitability

14 metrics
MetricARRYTOYOWNDW
Gross margin 24.3% 26.9% –
EBITDA margin -0.1% – -1,597%
Operating margin -5.1% 17.1% -1,607%
Pretax margin -6.2% 15.3% -1,607%
Net margin -12.5% 12.3% -1,517%
FCF margin 11.4% 6.6% -1,435%
Operating cash flow margin 13.7% 25.4% -1,435%
Return on equity – 27.6% -48.4%
Return on assets -5.7% 9.5% -45.7%
Return on invested capital -13.4% 26.6% –
Return on capital employed -5.5% 25.8% -50.8%
Asset turnover 0.8x 0.8x 0.0x
Cash conversion (OCF / net income) -1.9x 2.1x 0.9x
Stock comp / revenue 1.5% – –

Financial Health

11 metrics
MetricARRYTOYOWNDW
Debt / assets 42.9% 4.8% –
Debt / equity -3.3x 0.1x –
Net debt / EBITDA -302.9x – –
Debt / FCF 4.9x 1.0x –
Liabilities / assets 113.2% 61.0% 6.3%
Equity / assets -13.2% 39.0% 93.7%
Interest coverage -2.8x 30.0x –
Current ratio 2.2x 1.1x 15.8x
Quick ratio 1.8x 0.5x 15.6x
Cash ratio 0.8x 0.4x 15.6x
Altman Z-score 0.85 1.91 143.23

Shareholder Returns

7 metrics
MetricARRYTOYOWNDW
Dividend yield – – –
Net buyback yield – – –
Shareholder yield – – –
Payout ratio (earnings) – – –
Payout ratio (FCF) – – –
Dividend growth (1Y) – – –
Dividend CAGR (3Y) – – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusARRYTOYOWNDW
Forward P/E 4.5xFY2026 2.3xFY2026 –
EPS, next fiscal year $0.79FY2026 $2.02FY2026 –
EPS growth, next FY +17.9%FY2026 +106.1%FY2026 –
EPS growth, the year after +7.6% +73.8% –
Revenue, next fiscal year $1.41BFY2026 $585.65MFY2026 –
Revenue growth, next FY +9.8%FY2026 +37.0%FY2026 –
Revenue growth, the year after +18.4% +71.3% –

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersARRYTOYOWNDW
Held by institutions 100.0% 16.1% –
Institutions holding 259 48 –
Change in shares held, QoQ +7.3% +1,004.6% –
Institutions buying 134 44 –
Institutions selling 80 4 –
Buyers to sellers 1.68 11.00 –

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

ARRYTOYOWNDW
ARRY 1.00 0.18 -0.03
TOYO 0.18 1.00 -0.04
WNDW -0.03 -0.04 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, ARRY, TOYO and WNDW?

Array Technologies (ARRY) is the largest by market capitalisation: Array Technologies (ARRY) $516.22M, Toyo (TOYO) $134.91M, SolarWindow Technologies (WNDW) $83.54M.

Which company is growing faster?

SolarWindow Technologies (WNDW) grew revenue fastest over the trailing twelve months: Array Technologies (ARRY) +1.2%, SolarWindow Technologies (WNDW) +61.8%.

Which company is more profitable?

Toyo (TOYO) has the highest net margin (Array Technologies (ARRY) -12.5%, Toyo (TOYO) 12.3%, SolarWindow Technologies (WNDW) -1,517.3%). On return on invested capital, Toyo (TOYO) leads (Array Technologies (ARRY) -13.4%, Toyo (TOYO) 26.6%).

Which stock has performed better?

Over the past year SolarWindow Technologies (WNDW) returned the most: Array Technologies (ARRY) -60.1%, Toyo (TOYO) -34.3%, SolarWindow Technologies (WNDW) +150.0%. Over five years, SolarWindow Technologies (WNDW) compounded fastest (Array Technologies (ARRY) -30.1%/yr, SolarWindow Technologies (WNDW) -27.5%/yr). Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, Array Technologies (ARRY) has been the steadiest (Array Technologies (ARRY) 79.1%, Toyo (TOYO) 98.6%, SolarWindow Technologies (WNDW) 173.2%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, ARRY, TOYO and WNDW?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Toyo (TOYO) leads on 4. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.