What is Array Digital Infrastructure, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on Array Digital Infrastructure, Inc.'s reported free cash flow gives $15.21 per share. The share price was $28.94 on November 10, 2026, 90% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | -10.0% | 10.0% | $7.81 | -73% |
| Base | -5.0% | 9.0% | $15.21 | -47% |
| Bull | 0.0% | 8.0% | $28.99 | +0% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $20.13 | $21.58 | $23.34 | $25.56 | $28.40 |
| 8.0% | $16.50 | $17.44 | $18.55 | $19.88 | $21.50 |
| 9.0% | $13.82 | $14.47 | $15.21 | $16.07 | $17.09 |
| 10.0% | $11.77 | $12.23 | $12.74 | $13.34 | $14.02 |
| 11.0% | $10.14 | $10.48 | $10.85 | $11.27 | $11.75 |
Where the presets come from
Base: years 1 to 5 grow at Array Digital Infrastructure, Inc.'s revenue growth rate over the last 5 fiscal years (-47.4% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions