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Array Technologies, Inc. cash flow statement

In fiscal 2025, Array Technologies, Inc.'s operations generated $102m of cash; it spent $22.0m on capital projects, leaving free cash flow of $79.8m.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations−12386−122−263141232154102163
Depreciation and amortisation2827272610139362631
Stock-based pay015141515101617
Capital spending2213111772228
Free cash flow−14384−124−26713121514780135
Free cash flow after stock pay−14384−128−28011620013664117
Shares issued—01461211600——

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Array Technologies, Inc.'s SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Array Technologies, Inc.