Array Technologies (ARRY) Return on Invested Capital [ROIC] (2020 - 2026)
Array Technologies (ARRY) recorded Return on Invested Capital [ROIC] of -13.39% in Q2 2026, up 20.05 percentage points from -33.44% a year earlier but down 2.64 percentage points from the prior quarter.
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Analysis
Array Technologies (ARRY) Return on Invested Capital [ROIC] (2020 - 2026) Analysis & Trends
For FY2025, Array Technologies reported Return on Invested Capital [ROIC] of -5.68%, up 23.35 percentage points from FY2024.
- Annual Return on Invested Capital [ROIC] has a five-year change of -24.95 percentage points (FY2020 to FY2025).
- Across earlier years, Return on Invested Capital [ROIC] came in at -29.02% in FY2024 (-47.20 pp), 18.18% in FY2023 (+18.18 pp), 0.00% in FY2022 (+4.11 pp) and -4.11% in FY2021 (-23.38 pp).
- Quarterly Return on Invested Capital [ROIC] has ranged from -35.72% in Q1 2025 to 17.75% in Q4 2023 over the past five years.
- On a year-over-year basis, Return on Invested Capital [ROIC] has increased for four consecutive quarters, with an average year-over-year change of -11.28 percentage points over the last eight quarters.
- Peak year-over-year performance for Return on Invested Capital [ROIC] in the last five years was a gain of 28.22 percentage points in Q4 2025, against a drop of 51.25 percentage points in Q4 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at -10.75% (Q1 2026), -5.29% (Q4 2025) and -3.70% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 206.05 Bn | 157.15 Bn | 3.11 Bn | 18.10% |
| 2 | Bloom Energy | 51.10 Bn | 41.00 Bn | 417.10 Mn | 31.22% |
| 3 | First Solar | 21.63 Bn | 12.99 Bn | 713.06 Mn | 17.06% |
| 4 | Nextpower | 15.87 Bn | 11.57 Bn | 345.32 Mn | - |
| 5 | BWX Technologies | 10.96 Bn | 8.77 Bn | 227.14 Mn | 10.85% |
| 6 | Generac Holdings | 10.36 Bn | 9.10 Bn | 516.04 Mn | 8.39% |
| 7 | EnerSys | 5.36 Bn | 3.55 Bn | 313.36 Mn | 13.79% |
| 8 | Mirion Technologies | 4.35 Bn | 2.71 Bn | 131.50 Mn | 2.11% |
| 9 | Enphase Energy | 3.78 Bn | -535.47 Mn | 127.12 Mn | 2.84% |
| 10 | Array Technologies | 900.89 Mn | -73.02 Mn | 99.60 Mn | -13.39% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -13.39% |
| Mar 31, 2026 | -10.75% |
| Dec 31, 2025 | -5.29% |
| Sep 30, 2025 | -3.70% |
| Jun 30, 2025 | -33.44% |
| Mar 31, 2025 | -35.72% |
| Dec 31, 2024 | -33.51% |
| Sep 30, 2024 | -6.71% |
| Jun 30, 2024 | 10.36% |
| Mar 31, 2024 | 14.53% |
| Dec 31, 2023 | 17.75% |
| Sep 30, 2023 | 14.49% |
| Jun 30, 2023 | 13.38% |
| Mar 31, 2023 | 6.18% |
| Dec 31, 2022 | 0.00% |
| Sep 30, 2022 | -1.78% |
| Jun 30, 2022 | -6.05% |
| Mar 31, 2022 | -7.15% |
| Dec 31, 2021 | -4.29% |
| Sep 30, 2021 | -1.69% |
API Access
Array Technologies Return on Invested Capital [ROIC] API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=return-on-invested-capital-%5Broic%5D&ticker=ARRY&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "ticker": "ARRY", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=return-on-invested-capital-%5Broic%5D&ticker=ARRY&period=max&api_key=YOUR_API_KEY");
const data = await res.json();