ARRAY DIGITAL INFRASTRUCTURE, INC. (AD)
Communication Services · Communication Infrastructure · NYSE
Array Digital Infrastructure is a communication infrastructure provider focused on site leasing and spectrum management.
What ARRAY DIGITAL INFRASTRUCTURE, INC. does
Array Digital Infrastructure provides site rental and associated services for communication infrastructure. The company generates revenue primarily through the leasing of tower and communication sites, supplemented by service offerings and spectrum-related activities.
Themes: telecom infrastructure, wireless infrastructure, spectrum management
Fundamentals
- Price$33.16 as of 2026-10-20 close
- Market cap$2.9B as of 2026-06-30 (share count; price 2026-10-20)
- 1-year return-33.7% 2025-10-20 close $49.99 → 2026-10-20 close $33.16
- P/E5.36 as of 2026-10-20
- Net margin+29.9% FY2025, SEC XBRL
- ROE+1.9% FY2025, SEC XBRL
- ROICn/a No figure: its filing reports debt only together with finance leases, and ROIC's debt excludes leases.
- Debt / equity0.53 borrowings incl. finance leases / equity — 10-Q/10-K balance sheet 2026-06-30
- Revenue growth (YoY)+58.3% FY2025, SEC XBRL
- Revenue CAGR (3y)-66.1% SEC XBRL
- Beta0.56 as of 2026-09-03
- Last reported earnings2026-08-07 SEC EDGAR Form 8-K (Item 2.02)
Dividend: at least 1 years of non-decreasing per-share dividends (SEC XBRL) — we do not hold the year before it, so the real streak may be longer.
How AD compares in its sector
- price-to-earnings ratiobottom 10% 61 covered Communication Services peers, as of 2026-10-20
- net profit margintop 10% 128 covered Communication Services peers, as of 2026-09-03
- operating marginbottom 10% 124 covered Communication Services peers, as of 2026-09-03
- return on equitymiddle range 114 covered Communication Services peers, as of 2026-09-03
- 3-year revenue CAGRbottom 10% 123 covered Communication Services peers
- free cash flow (absolute dollars, latest fiscal year)middle range 117 covered Communication Services peers, as of FY2025
Position among covered Communication Services companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.
Dividend coverage (FY2025)
Exceeded at least one reported measure. In FY2025, AD's dividend exceeded at least one reported measure of what it earned or generated (earnings payout 4075%, free-cash-flow payout 1144%). A payout above 100% in one year is not necessarily unsustainable, but it is not fully covered by that measure.
- Earnings payout4075% dividends / net income
- Free-cash-flow payout1144% dividends / (operating cash flow − capex)
Coverage derived from reported SEC EDGAR XBRL figures for FY2025 (dividends paid vs. net income and free cash flow, same fiscal year). This describes PAST coverage for one fiscal year — it does not predict whether a dividend will be maintained, raised, or cut, and a one-year payout ratio can be distorted by non-recurring items. Informational only — not financial advice.
Quarterly results
| Quarter | Revenue | Operating income | Net income | Diluted EPS | Operating cash flow | Capex |
|---|---|---|---|---|---|---|
| Q2 FY2026 2026-06-30 | $54M | $399M | $359M | $4.15 | -$43M† | $6M† |
| Q1 FY2026 2026-03-31 | $52M | $161M | $178M | $2.06 | $24M | $14M |
| Q4 FY2025 2025-12-31 | $60M† | $9M† | $37M† | $0.43† | -$202M† | $9M† |
| Q3 FY2025 2025-09-30 | $47M | -$53M | -$38M | -$0.44 | -$82M† | $7M† |
| Q2 FY2025 2025-06-30 | $29M | -$18M | $31M | $0.36 | $325M† | $4M† |
| Q1 FY2025 2025-03-31 | $27M | -$30M | $18M | $0.21 | $159M | $8M |
| Q4 FY2024 2024-12-31 | $26M† | -$29M† | $5M† | $0.05† | $121M† | $5M† |
| Q3 FY2024 2024-09-30 | $26M | -$160M | -$79M | -$0.92 | $245M† | -$257M† |
† Not filed as a discrete quarter: derived from the company's own year-to-date figures (for example the fourth quarter as the fiscal year minus the first nine months). A derived per-share figure is approximate, because the share count moves within the year.
Balance sheet at 2026-06-30
- Cash and equivalents$416M
- Total debt$675M borrowings incl. finance leases (not tagged separately)
- Net debt$258M total debt − cash − short-term investments
From the company's own SEC 10-Q and 10-K filings (XBRL), re-read every week. Figures in US dollars as filed; informational only — not financial advice.
How ARRAY DIGITAL INFRASTRUCTURE, INC. looks technically
ARRAY DIGITAL INFRASTRUCTURE, INC. (AD) is trading 23.8% below its 200-day average, the long-term trend line — a long-term downtrend. Its 50-day average crossed below its 200-day average about 89 trading days ago — a "death cross", a bearish long-term signal. A strong downtrend is in place — ADX, a 0–100 trend-strength gauge, is 28, with sellers in control. Momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 35, neither overbought (above 70) nor oversold (below 30). It made a new 20-day low about 2 trading days ago. It is 1.5% above its 52-week low (its lowest price of the past year). Trading volume is unusually light — only about 49% of its 30-day average.
Trend
8
| Distance from the 200-day | it is trading 23.8% below its 200-day average, the long-term trend line — a long-term downtrend | -23.8% |
|---|---|---|
| 50-day moving average | its average price over the last 50 trading days — a short-term trend line — is $35.48 | $35.48 |
| 200-day moving average | its average price over the last 200 trading days — the long-term trend line — is $43.53 | $43.53 |
| Swing structure | each recent peak has been lower than the one before it and each dip deeper — the pattern chart-watchers call a downtrend, which describes where price has already been and not where it goes next | lower highs and lower lows |
| Last swing turn | its last significant turn was a swing low 11 calendar days ago — the swings before that are what the structure reading is measured on | 11 sessions |
| Wave structure | its recent swings can be read as a completed three-part downward correction — a pullback in the A-B-C shape Elliott-wave chartists use; the labelling fails if price closes below 32.68. It is the only labelling that fits, though not with textbook proportions, and it describes the swings already printed, not what comes next. | possible three-wave downward correction, complete (atypical proportions) |
| Since the 50/200 cross | its 50-day average crossed below its 200-day average about 89 trading days ago — a "death cross", a bearish long-term signal | 89 sessions |
| Trend strength (14-day ADX) | a strong downtrend is in place — ADX, a 0–100 trend-strength gauge, is 28, with sellers in control | 27.8 |
Momentum
3
| 14-day RSI | momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 35, neither overbought (above 70) nor oversold (below 30) | 35.0 |
|---|---|---|
| Position in its 14-day range | it is trading near the bottom of its 14-day range ($32.66 to $35.20) — its "stochastic" reading is 20 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been climbing within that range over the last few sessions. | 19.7 |
| Since the MACD crossed zero | MACD, a trend-momentum gauge, is in negative territory (momentum leaning bearish) | 24 sessions |
Range
12
| 52-week high | its highest closing price over the past year (about 252 trading days) was $60.82 | $60.82 |
|---|---|---|
| From the 52-week high | it is 45.5% below its 52-week high (its highest price of the past year) | -45.5% |
| Above the 52-week low | it is 1.5% above its 52-week low (its lowest price of the past year) | +1.5% |
| Below the 52-week high | it is 45.5% below its highest point of the past year | 45.5% |
| Since a 20-day breakout | it made a new 20-day low about 2 trading days ago | 2 sessions |
| Since a 55-day breakout | it made a new 55-day low about 2 trading days ago | 2 sessions |
| All-time high | its highest closing price on record is $125.75 (set on 1999-11-29) | $125.75 |
| Given back of the 52-week move | over the past year its closes ranged ($32.74 to $60.28), and it has recovered essentially none of its fall from last year’s high — 2% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $49.76 to $50.64. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast. | 1.5% |
| From the all-time high | it is 73.6% below its all-time high | -73.6% |
| Nearest price level | it is trading 0.8% above a support level at $32.90 — a price it turned at twice since 2026-09-29, most recently on 2026-10-09. Since 2024-10-21 it has 1 such level below the current price and 13 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go. | -0.8% |
| All-time low | its lowest closing price on record is $12.75 (set on 1990-10-30) | $12.75 |
| Above the all-time low | it is 160.1% above its all-time low | +160.1% |
Volatility
5
| Band width vs its own 6 months | day-to-day price swings are narrower than usual versus its own recent 6-month history (tighter than about 74% of it) | 26th percentile |
|---|---|---|
| Typical daily range | in a typical session it travels about $0.8246 between its high and its low — about 2.5% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was | $0.8246 |
| Bollinger bands (20-day, ±2σ) | most of its recent trading has stayed between about $32.80 and $34.93 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles | $32.80 – $33.86 – $34.93 |
| Typical daily range (% of price) | its price moves about 2.5% in a typical session — calmer than most companies we cover. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price | 2.5% |
| Stretch from the 200-day average | it is trading 12.6 daily ranges below its 200-day average price (23.8% below it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale | 12.6 daily ranges below its 200-day average |
Volume
1
| Volume vs its 30-day average | trading volume is unusually light — only about 49% of its 30-day average | 0.49× |
|---|
Analyst
2
| Change in the average price target | analysts' average price target is unchanged from the prior reading | 0.0% |
|---|---|---|
| Change in the consensus rating | not available for this company yet | n/a |
Candlestick patterns
3
| Since a doji | 9 sessions ago it opened and closed at almost the same price after trading through a wider range — a "doji", the classic picture of buyers and sellers finishing the session level | 9 sessions ago |
|---|---|---|
| Since a hammer | 7 sessions ago, after a stretch of decline, it sold off hard during the session and then closed back near its high — a "hammer", the long lower wick showing the drop was bought back before the close | 7 sessions ago |
| Since a bullish engulfing | 6 sessions ago it opened below the previous session's close and finished above that session's open — a "bullish engulfing" pair, where one up day more than undid the down day before it | 6 sessions ago |
Price gaps
2
| Gap at the open | it opened on 2026-10-20 0.6% above the previous session's close — an overnight gap, the part of the move that happened while the market was shut, and traded back through that level before the close | +0.6% |
|---|---|---|
| Gap filled | a 3.1% gap up opened on 2026-08-07 has been "filled" 51 sessions ago — price traded back through the level the gap left behind, and it closed again during the very session that opened it | 51 sessions ago |
Price streaks
1
| Closing streak | it closed higher in its latest session, after a session that did not close higher — a single up day rather than a run | 1 session up |
|---|
Relative strength
4
| vs market, 1 month | over the past 1 month this stock lagged the market by 7.8 percentage points (the stock lost 6.8% while the market gained 1.0%) | -7.8% |
|---|---|---|
| vs market, 3 months | over the past 3 months this stock lagged the market by 7.8 percentage points (the stock lost 4.1% while the market gained 3.6%) | -7.8% |
| vs market, 6 months | over the past 6 months this stock lagged the market by 41.6 percentage points (the stock lost 33.1% while the market gained 8.5%) | -41.6% |
| vs market, 12 months | over the past 12 months this stock lagged the market by 48.2 percentage points (the stock lost 33.7% while the market gained 14.6%) | -48.2% |
Signal agreement
2
| Bullish technical signals | 1 of the 9 technical signals we can compute for it is currently in a bullish state: near the bottom of its 14-day range (oversold) — these describe past price behaviour, not a forecast | 1 of 9 |
|---|---|---|
| Bearish technical signals | 7 of the 9 technical signals we can compute for it are currently in a bearish state: a "death cross" — its 50-day average is below its 200-day, trading below its 200-day average, a fresh 20-day low, MACD momentum is negative, a strong downtrend, with sellers in control, lagging the market over 6 months, trading below the Ichimoku cloud — these describe past price behaviour, not a forecast | 7 of 9 |
Trend (Ichimoku cloud)
1
| Vs the Ichimoku cloud | trading 8.8% below the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-09-14 and projected forward over today's price, the side traders read as an established downtrend, with the band above acting as the level that would have to be cleared. The band itself is moderate, spanning 2.6% of the share price. | -8.8% |
|---|
Volume-weighted price
2
| Vs this year’s average price paid | the price is 25% below the average price paid so far this year, so the typical buyer over that stretch is under water. That average is $44.31 — a volume-weighted average of daily closes over 200 sessions, not a true tick-by-tick VWAP. | -25.2% |
|---|---|---|
| Vs the average paid since it last reported | the price is 7% below the average price paid since it last reported on 2026-08-07 (its 10-Q), so the typical buyer over that stretch is under water. That average is $35.65 — a volume-weighted average of daily closes over 52 sessions, not a true tick-by-tick VWAP. | -7.0% |
Price levels it has turned at before
AD last closed at $33.16 on 2026-10-20. Since 2024-10-21 it has turned at 1 price below its last close and 13 above; the nearest below and the 3 nearest above are listed, nearest first.
| Level | Side | Distance | Evidence |
|---|---|---|---|
| $32.90 | Support | 0.8% below the last close | turned there twice · 2026-09-29 to 2026-10-09 |
| $45.23 | Resistance | 36.4% above the last close | turned there twice · 2026-03-20 to 2026-03-30 |
| $46.95 | Resistance | 41.6% above the last close | turned there three times · 2025-09-25 to 2026-04-22 |
| $48.73 | Resistance | 46.9% above the last close | turned there twice · 2025-10-08 to 2025-12-16 |
A level is a price this company reversed or paused at more than once — they describe past behaviour, not a forecast of where the price will go.
Wave structure
Its recent swings can be read as a three-part downward correction — the A-B-C shape chartists use for a pullback — now complete.
This labelling fails — stops being a possible reading at all — if it closes below $32.68.
It is the only labelling that fits these swings, though its proportions are not the textbook ones.
This reading has stood for 1 trading day, since 2026-10-20.
Read from daily closes as of 2026-10-20.
An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.
Screens: Trading below the 200-day moving average · Trading below the 50-day moving average · Near the 52-week low · Pulled back from the 12-month high · Broke down to a new 20-day low · lagging the market | Learn: moving average · golden cross · adx · rsi · breakout · fifty two week high low · volume and relative volume
Based on daily closing prices as of 2026-10-20. Describes past price behavior only — informational, not financial advice.
Analyst consensus
- Consensus ratingBuy (2.25 mean, 1=Strong Buy…5=Strong Sell) — 3 analysts
- Mean price target$43.33 range $40.00 – $45.00; median $45.00
Analyst estimates, as of 2026-10-18. These are third-party analyst opinions and price targets, aggregated — not a recommendation, prediction, or advice from stocks-llm. Informational only.
Analyst EPS estimate for AD
- Consensus EPS estimate$0.38 next reporting period, as of 2026-10-18
- Estimate change, 30 days$0.00 (0.0%) from $0.38, on 2026-09-18, 30-day window
- Readings revised upward0% of 8 comparable readings
The consensus estimate for the next reporting period, and how it has moved between readings of that SAME period. A change is measured only between readings estimating one period — when a company reports, the consensus moves to the next quarter and the two numbers are not comparable. Informational only, not a forecast and not advice.
Key risks (from latest filing)
["Uncertainty related to the pending non-binding acquisition proposal from TDS could divert management attention and cause stock price volatility.","Fluctuations in market interest rates impact the fair value of fixed-rate debt and interest expense on variable-rate debt."]
What changed in the latest 10-Q
AI-assisted comparison of AD's 10-Q filed 2026-08-07 against the prior one filed 2026-05-08.
Risk Factors
- Reworded:
- The newer filing (2026-08-07) states the market risk disclosure as of June 30, 2026, while the older filing (2026-05-08) states it as of March 31, 2026.
- The newer filing (2026-08-07) presents consolidated statement of operations data for the three and six months ended June 30, 2026 and 2025, while the older filing (2026-05-08) presents data only for the three months ended March 31, 2026 and 2025.
- The newer filing (2026-08-07) includes 'Depreciation, amortization and accretion' as a combined line item in the consolidated statement of operations, while the older filing (2026-05-08) presents 'Depreciation and accretion' without amortization.
- The newer filing (2026-08-07) includes interest and dividend income of $6,431 (three months) and $10,653 (six months), while the older filing (2026-05-08) includes interest and dividend income of $4,223 for the three months ended March 31, 2026.
- The newer filing (2026-08-07) includes short-term imputed spectrum lease income of $23,770 for the three months and $57,970 for the six months ended June 30, 2026, while the older filing (2026-05-08) includes $34,200 for the three months ended March 31, 2026.
- The newer filing (2026-08-07) includes income tax expense of $115,870 and $168,268 for the three and six months ended June 30, 2026, while the older filing (2026-05-08) includes income tax expense of $52,398 for the three months ended March 31, 2026.
- The newer filing (2026-08-07) includes net income from discontinued operations of $25,114 and $23,077 for the three and six months ended June 30, 2026, while the older filing (2026-05-08) includes net income (loss) from discontinued operations of ($2,036) for the three months ended March 31, 2026.
- The newer filing (2026-08-07) includes earnings per share figures for three and six months ended June 30, 2026 and 2025, while the older filing (2026-05-08) includes earnings per share figures only for the three months ended March 31, 2026 and 2025.
- The newer filing (2026-08-07) consolidated statement of cash flows covers the six months ended June 30, 2026 and 2025, while the older filing (2026-05-08) covers the three months ended March 31, 2026 and 2025.
- The newer filing (2026-08-07) includes 'Distributions from unconsolidated entities' of $66,553 for the six months ended June 30, 2026, while the older filing (2026-05-08) includes $18,373 for the three months ended March 31, 2026.
- The newer filing (2026-08-07) includes bad debts expense of $196 for the six months ended June 30, 2026, while the older filing (2026-05-08) includes bad debts expense of ($264) for the three months ended March 31, 2026.
- Notes:
- The provided newer text appears truncated in the consolidated statement of cash flows section, ending mid-sentence at 'Accounts re'.
- The provided older text appears truncated in the consolidated statement of cash flows section, ending mid-sentence at 'Net cash used in inv'.
AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.
Insider activity (SEC Form 4)
0 open-market purchases and 2 open-market sales by insiders in the last 90 days, of which we have read Form 4 filings through 2026-10-16. The 5 days since 2026-10-16 have not been checked yet.
- Last 90 days · read to 2026-10-160 buys · 2 sells ($260909) — 1 selling insider
- Last 180 days · read to 2026-10-160 buys · 2 sells ($260909) — 1 selling insider
Activity heuristic: net selling (a transparent product heuristic from the counts above, not a prediction or advice)
Most recent open-market transaction: 2026-09-11. Based on Form 4 filings read through 2026-10-16; anything filed since is not yet included.
View full insider trading history → View SEC Form 3/4/5 filingsAsk about AD's insider activity →
Only open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.
Institutional ownership (13F)
4 institutional 13F filers reported holding AD as of 2026-06-30 (quarter-end position, filed within 45 days).
- Distinct 13F filers 4
- Reported shares held 875,674
- Reported value $31,751,948
reported quarterly holdings change (2026-03-31 → 2026-06-30): 0 new, 4 increased, 0 decreased, 0 exited. Change counts cover only managers that filed 13F reports in BOTH quarters, derived between two quarter-end snapshots — not same-day trades; a single manager is never said to have "bought" or "sold".
Institutional holdings are quarter-end long positions reported on SEC Form 13F-HR, filed up to 45 days after the quarter ends — they are delayed, are not real-time trades, exclude short positions and most non-US securities, and are not investment advice. Any increase/decrease is a reported change between two quarterly snapshots, not a same-day purchase or sale. These are quarter-end snapshots from the 13F filings on SEC EDGAR, filed within 45 days — not real-time, and any change is a difference between two quarterly reports, not a same-day trade. Informational only — not financial advice.
Ask about AD's institutional holders → See what each manager we track holds →
Short interest (FINRA)
AD had 1,274,380 shares of reported short interest as of the 2026-09-30 FINRA settlement date (delayed, bi-monthly; not real-time).
Short interest as a percent of shares outstanding is not shown for AD because we do not hold a verified share count to divide it by. The reported figures above are unaffected.
- Reported short interest (shares) 1,274,380
- Prior settlement (shares) 1,279,643
- Reported change -0.41%
- Days to cover (reported) 4.05
Reported to FINRA as of the 2026-09-30 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.
ARRAY DIGITAL INFRASTRUCTURE, INC. is found in…
Frequently asked questions
What does ARRAY DIGITAL INFRASTRUCTURE, INC. (AD) do?
Array Digital Infrastructure provides site rental and associated services for communication infrastructure. The company generates revenue primarily through the leasing of tower and communication sites, supplemented by service offerings and spectrum-related activities.
What sector is ARRAY DIGITAL INFRASTRUCTURE, INC. (AD) in?
ARRAY DIGITAL INFRASTRUCTURE, INC. (AD) is classified in the Communication Services sector. Its industry is Communication Infrastructure. It trades on NYSE.
Does AD pay a dividend?
Yes — ARRAY DIGITAL INFRASTRUCTURE, INC. (AD) pays a dividend, with at least 1 years of non-decreasing per-share dividends (SEC EDGAR XBRL) — we do not hold the year before it, so the real streak may be longer (market data, as of 2026-09-03). Informational only — not financial advice.
Is ARRAY DIGITAL INFRASTRUCTURE, INC. (AD) overbought or oversold right now?
ARRAY DIGITAL INFRASTRUCTURE, INC. (AD) is currently neither overbought nor oversold — its 14-day RSI (a 0–100 momentum gauge) is 35, in the neutral middle (as of 2026-10-20). RSI describes recent price momentum, not a forecast — informational only, not financial advice.
Where does stocks-llm's data on AD come from?
Fundamentals come from SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-03 for the rest; prices are market data, as of 2026-09-03; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.
Fundamentals: SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-03 for the rest. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-10-20.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.