ARRY vs TOYO Stock Comparison

Array Technologies and Toyo Prices as of Oct 26, 2026 Peers: Industry group
TOYO TOYO Co., Ltd
$3.84 -14.1% 1M -46.2% 1Y
Market cap
$144.99M
P/E
2.4x
Revenue (TTM)
$400.07M
Div. yield
–
Solar Equipment Industrials
5 wins

Head to Head

7 decided of 12

Toyo leads on 5 of the 12 questions below (Toyo 5, Array Technologies 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionARRYTOYOLeader
Larger companyMarket capitalisation $485.12M $144.99M ARRY
Cheaper on earningsLower P/E, profitable companies only -3.3x 2.4x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS 4.0x 1.9x TOYO
Faster revenue growthRevenue growth, trailing twelve months +1.2% — –
More profitableNet margin, trailing twelve months -12.5% 12.3% 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 — — –
Better 1-year returnPrice return, last 12 months -64.8% -46.2% TOYO
Better 5-year returnAnnualised price return, 5 years -29.7%/yr — –
Less volatileAnnualised volatility, 1 year 78.8% 96.6% ARRY
Higher overall scoreMean of the five percentile scores vs peers 61/100 87/100 TOYO

Percentile Scorecard

ARRYTOYO

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

AxisARRYTOYO
Valuation 87 #4 of 24 100 #1 of 24
Growth 33 #15 of 22 –
Profitability 79 #5 of 20 95 #2 of 20
Financial Health 44 #19 of 33 66 #12 of 33
Shareholder Returns – –
Overall 61 87
  • ARRY ranked among 33 companies in Clean Energy Equipment
  • TOYO ranked among 33 companies in Clean Energy Equipment

Price Performance

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

Returns

PeriodARRYTOYOSPY
1 month -21.8%-14.1% -0.8%
3 months -42.8%-20.3% +3.5%
6 months -60.5%-66.0% +7.0%
Year to date -65.8%-34.5% +12.2%
1 year -64.8%-46.2% +13.0%
3 years -81.5%-64.4% +86.3%
3 years, per year -43.1%-29.2% +23.1%
5 years -82.8%— +68.6%
5 years, per year -29.7%— +11.0%

Risk

MeasureARRYTOYOSPY
Volatility, 1Y 78.8%96.6% 12.7%
Downside volatility, 1Y 88.4%110.5% 12.7%
Beta vs S&P 500, 1Y 3.101.44 1.00
Return / volatility, 1Y -0.82-0.48 1.02
Max drawdown, 5Y -88.4%-86.3% -25.4%
From 52-week high -73.7%-77.4% -1.8%
52-week high $11.96$16.99 $779.14
52-week low $3.15$3.84 $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.

MultipleARRYTOYO
P/E now vs peer median -3.3xmedian 21.4x 2.4xmedian 21.4x
P/S now vs peer median 0.4xmedian 3.4x 0.4xmedian 3.4x
EV/EBITDA now vs peer median -722.2xmedian 9.0x —median 9.0x
P/FCF now vs peer median 3.6xmedian 12.0x 5.5xmedian 12.0x
P/B now vs peer median -2.4xmedian 1.3x 0.7xmedian 1.3x
PEG now vs peer median 0.06median 0.53 —median 0.53

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 monthsARRYTOYO
Revenue $1.19B $400.07M
Gross profit $287.61M $107.81M
Operating income -$60.78M $68.50M
Net income -$85.90M $48.32M
Free cash flow $134.73M $26.58M
EPS (diluted) $-0.95 $1.62
Cash & equivalents $307.30M $103.47M
Total debt $657.75M $132.75M
Shares (diluted) 155.69M 30.33M
Enterprise value -$488.78M -$118.97M

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
MetricARRYTOYO
P/E -3.3x 2.4x
P/FCF 3.6x 5.5x
P/Operating cash flow 3.0x 1.4x
P/S 0.4x 0.4x
P/B -2.4x 0.7x
P/Tangible book -1.2x 0.7x
EV/EBITDA -722.2x –
EV/EBIT -13.7x 1.0x
EV/Revenue 0.7x 0.2x
EV/FCF 6.2x 2.5x
EV/Operating cash flow 5.1x 0.7x
PEG (3Y EPS CAGR) 0.06 –

Growth

14 metrics
MetricARRYTOYO
Revenue growth (1Y) 1.2% –
Revenue CAGR (3Y) -13.0% –
Gross profit growth (1Y) -12.9% –
Gross profit CAGR (3Y) -10.2% –
Operating income growth (1Y) 69.8% –
Operating income CAGR (3Y) -32.8% –
Net income growth (1Y) 58.8% –
Net income CAGR (3Y) -38.6% –
EPS growth (1Y) 45.3% –
EPS CAGR (3Y) -55.9% –
Operating cash flow growth (1Y) 22.2% –
Operating cash flow CAGR (3Y) -15.4% –
Free cash flow growth (1Y) 22.2% –
Free cash flow CAGR (3Y) -18.9% –

Profitability

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

Financial Health

11 metrics
MetricARRYTOYO
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%
Equity / assets -13.2% 39.0%
Interest coverage -2.8x 30.0x
Current ratio 2.2x 1.1x
Quick ratio 1.8x 0.5x
Cash ratio 0.8x 0.4x
Altman Z-score 0.83 1.85

Shareholder Returns

7 metrics
MetricARRYTOYO
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.

ConsensusARRYTOYO
Forward P/E 4.0xFY2026 1.9xFY2026
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
HoldersARRYTOYO
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.

ARRYTOYO
ARRY 1.00 0.19
TOYO 0.19 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, ARRY and TOYO?

Array Technologies (ARRY) is the largest by market capitalisation: Array Technologies (ARRY) $485.12M, Toyo (TOYO) $144.99M.

Which company is more profitable?

Toyo (TOYO) has the highest net margin (Array Technologies (ARRY) -12.5%, Toyo (TOYO) 12.3%). 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 Toyo (TOYO) returned the most: Array Technologies (ARRY) -64.8%, Toyo (TOYO) -46.2%. 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) 78.8%, Toyo (TOYO) 96.6%). Volatility measures how widely the price swings, not the risk of the business.

Do ARRY and TOYO move together?

Their daily returns over the past year have a correlation of 0.19, a weak relationship. Holding both diversifies more than two closely linked stocks would.

Which is the better stock, ARRY and TOYO?

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 5. 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.