Array Digital Infrastructure (AD) Stock Overview
Owns and operates shared wireless communications infrastructure in the United States. More details
| Snowflake Score | |
|---|---|
| Valuation | 3/6 |
| Future Growth | 0/6 |
| Past Performance | 1/6 |
| Financial Health | 3/6 |
| Dividends | 2/6 |
Rewards
Risk Analysis
AD Community Fair Values
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Analyst Price Targets
Array Digital Infrastructure, Inc. Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$38.86 |
| 52 Week High | US$79.17 |
| 52 Week Low | US$38.40 |
| Beta | 0.20 |
| 1 Month Change | -23.31% |
| 3 Month Change | -16.89% |
| 1 Year Change | -35.36% |
| 3 Year Change | 141.22% |
| 5 Year Change | 5.51% |
| Change since IPO | 159.07% |
Recent News & Updates
Seeking Alpha • Jun 19
Array Digital Infrastructure's Bonds Are Cheap As Investment-Grade Telephone and Data Systems To Take Over
Summary Array Digital Infrastructure's baby bonds are trading at record discounts, offering compelling yields amid an imminent acquisition by Telephone and Data Systems. Post-acquisition, AD's baby bonds will be backed by TDS's investment-grade balance sheet, with TDS currently holding $1.37 billion in cash, with a net cash position of $686 million. UZE, the 5.50% Senior Notes, currently yield 8.14% and trade at a 32.56% discount to par, far above typical investment-grade spreads. I rate AD's baby bonds as a strong buy, expecting price appreciation as the acquisition closes and credit profile strengthens. Read the full article on Seeking Alpha
Narrative Update • Jun 08
AD: Spectrum Sale And Special Dividend Will Ultimately Expose Stretched Earnings Multiple
Array Digital Infrastructure's analyst price target remains at $45.00, with analysts citing updated assumptions for revenue growth, profit margins, and future P/E as key reasons for maintaining their view. What's in the News Array Digital Infrastructure completed the sale of select spectrum assets totaling approximately US$1.17b, including about US$1.0b to Verizon and US$168m to T-Mobile, as part of its plan to monetize remaining spectrum following the sale of its T-Mobile wireless operations.Recent updates
Seeking Alpha • Jun 19
Array Digital Infrastructure's Bonds Are Cheap As Investment-Grade Telephone and Data Systems To Take Over
Summary Array Digital Infrastructure's baby bonds are trading at record discounts, offering compelling yields amid an imminent acquisition by Telephone and Data Systems. Post-acquisition, AD's baby bonds will be backed by TDS's investment-grade balance sheet, with TDS currently holding $1.37 billion in cash, with a net cash position of $686 million. UZE, the 5.50% Senior Notes, currently yield 8.14% and trade at a 32.56% discount to par, far above typical investment-grade spreads. I rate AD's baby bonds as a strong buy, expecting price appreciation as the acquisition closes and credit profile strengthens. Read the full article on Seeking AlphaNarrative Update • Jun 08
AD: Spectrum Sale And Special Dividend Will Ultimately Expose Stretched Earnings Multiple
Array Digital Infrastructure's analyst price target remains at $45.00, with analysts citing updated assumptions for revenue growth, profit margins, and future P/E as key reasons for maintaining their view. What's in the News Array Digital Infrastructure completed the sale of select spectrum assets totaling approximately US$1.17b, including about US$1.0b to Verizon and US$168m to T-Mobile, as part of its plan to monetize remaining spectrum following the sale of its T-Mobile wireless operations.Narrative Update • May 24
AD: Proposed Buyout Terms Will Likely Expose Rich Earnings Multiple
Analysts have reduced their price target on Array Digital Infrastructure from $59.32 to $45.00, citing updated assumptions around discount rates, revenue growth, profit margins, and a much higher future P/E as the main drivers of the change. What's in the News Telephone and Data Systems, Inc.
Narrative Update • May 06
AD: Guidance Stability And Governance Changes Will Shape Future Return Potential
Analysts have maintained Array Digital Infrastructure's fair value estimate at $53.83 per share, with only minor model tweaks to the discount rate, revenue growth, profit margin, and future P/E assumptions guiding this narrative update to the price target rationale. What's in the News Array Digital Infrastructure, Inc.
Narrative Update • Apr 21
AD: Officer Exculpation Vote And Carrier Deals Will Drive Future Upside
Analysts have nudged their price target on Array Digital Infrastructure higher to $60.00, reflecting refreshed assumptions around slightly stronger revenue growth expectations, a modestly lower profit margin forecast, and a marginally higher future P/E multiple. What's in the News Array Digital Infrastructure is asking shareholders to approve amendments to its Restated Certificate of Incorporation to add exculpation provisions for certain corporate officers regarding monetary damages tied to breaches of the fiduciary duty of care, subject to limitations, with a vote planned at the 2026 annual meeting on May 19, 2026 (company bylaws filing).Narrative Update • Apr 07
AD: Spectrum Sale And Special Dividend Will Drive Future Upside Potential
Analysts have adjusted the Array Digital Infrastructure price target from $63.00 to $60.00, citing updated views on revenue growth, profit margins, and future P/E assumptions. What's in the News Array Digital Infrastructure issued 2026 earnings guidance, projecting total revenue in a range of $200 million to $215 million (Corporate Guidance).Narrative Update • Mar 23
AD: Spectrum Sale Cash And Special Dividend Will Drive Future Upside
Analysts have revised their price target for Array Digital Infrastructure to $53.83, reflecting updated assumptions for revenue growth, profit margins and future P/E, which together shape a more balanced view of the company’s potential risk and reward profile. What's in the News Array Digital Infrastructure issued earnings guidance for 2026, with expected total revenue in a range of $200 million to $215 million, giving investors a concrete top line reference point for the year (Corporate guidance).Narrative Update • Mar 09
AD: Spectrum Sale Cash And Special Dividend Will Balance Future Uncertainty
Analysts have trimmed their price target on Array Digital Infrastructure from about $58.17 to $53.83, citing updated assumptions for fair value, revenue growth, profit margins, and future P/E estimates. What's in the News Array Digital Infrastructure issued 2026 earnings guidance, with total revenue expected in a range of US$200m to US$215m.Narrative Update • Feb 23
AD: Spectrum Sale Cash And Special Dividend Will Drive Future Upside
Analysts now place Array Digital Infrastructure's price target at about $58.17, up slightly from roughly $57.71, reflecting updated views on its projected profit margin, P/E multiple, and discount rate. What's in the News Array Digital Infrastructure issued earnings guidance for 2026, targeting total revenue between $200 million and $215 million.Narrative Update • Feb 09
AD: Spectrum Sale And Special Dividend Will Reframe Future Earnings Profile
Analysts have maintained their fair value estimate for Array Digital Infrastructure at $63.00. This reflects updated views on the discount rate, revenue growth, profit margin and future P/E assumptions, while keeping the overall price target unchanged.Narrative Update • Jan 25
AD: Spectrum Sale Windfall And Special Dividend Will Drive Future Upside
Analysts have raised their price target for Array Digital Infrastructure from US$54.50 to about US$57.71, citing updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E as the main drivers of this change. What's in the News Array Digital Infrastructure closed a previously announced agreement with AT&T to sell a portion of its retained spectrum licenses for total consideration of US$1.018b, providing a significant cash inflow for the company (Key Developments).Narrative Update • Jan 11
AD: New Leadership Transition Will Reshape Tower And Spectrum Prospects
Analysts have cut their fair value estimate for Array Digital Infrastructure from US$85.00 to US$63.00, reflecting updated assumptions for revenue growth, profit margins and a higher discount rate, along with a much higher future P/E multiple estimate. What's in the News Array Digital Infrastructure reported that between July 1, 2025 and September 30, 2025, it repurchased 0 shares for US$0 million, with the overall buyback program, announced on November 18, 2009, now totaling 9,741,893 shares, or 11.38%, for US$381.03 million (Key Developments).Narrative Update • Dec 25
AD: Leadership Transition And T-Mobile Deal Will Shape Future Risk Reward Balance
Analysts have maintained their price target on Array Digital Infrastructure at 54.50 dollars, reflecting unchanged fair value assumptions, a steady discount rate, and consistent long term expectations for growth, margins, and valuation multiples. What's in the News Array Digital Infrastructure appointed Anthony Carlson, currently Vice President of Organizational Transformation at TDS Telecom and former senior leader at UScellular, as CEO effective November 16, 2025.Narrative Update • Dec 11
AD: New CEO And T-Mobile Deal Will Shape Balanced Future Prospects
Analysts have modestly reiterated their price target on Array Digital Infrastructure at approximately 54.50 dollars. This reflects largely unchanged views on its long term fair value, discount rate, and profitability outlook, despite recent revisions to growth and valuation inputs.Narrative Update • Nov 27
AD: Leadership Change And T-Mobile Deal Will Drive Upside Momentum
Analysts have lowered their price target on Array Digital Infrastructure from $68.80 to $54.50, citing more conservative outlooks on revenue growth and profit margins. What's in the News Anthony Carlson, age 39, will become CEO of Array Digital Infrastructure on November 16, 2025.Narrative Update • Nov 10
AD: Leadership Transition And T-Mobile Deal Signal Upside Ahead
Analysts have lowered their price target for Array Digital Infrastructure from $72.80 to $68.80. They cite recent adjustments to discount rates and downward revisions in projected profit margins.Narrative Update • Oct 27
T-Mobile Deal And Tower Agreements Will Drive Digital Infrastructure Transition
Analysts have revised their price target for Array Digital Infrastructure down from $75.50 to $72.80. They cited minor adjustments to discount rates and projected future earnings multiples as key drivers behind the updated valuation.Narrative Update • Aug 27
T-Mobile Partnership And Fiber Expansion Will Fuel Future Prospects
The sharp decline in consensus revenue growth forecasts, despite a significant improvement in net profit margin, has driven analysts to lower Array Digital Infrastructure’s fair value estimate from $80.75 to $75.50. What's in the News United States Cellular Corporation is changing its name to Array Digital Infrastructure, Inc.Analysis Article • Jun 13
Investor Optimism Abounds United States Cellular Corporation (NYSE:USM) But Growth Is Lacking
With a median price-to-sales (or "P/S") ratio of close to 1.2x in the Wireless Telecom industry in the United States...Analysis Article • May 14
Shareholders Will Probably Hold Off On Increasing United States Cellular Corporation's (NYSE:USM) CEO Compensation For The Time Being
Key Insights United States Cellular will host its Annual General Meeting on 20th of May CEO LT Therivel's total...Analysis Article • Mar 17
These 4 Measures Indicate That United States Cellular (NYSE:USM) Is Using Debt Extensively
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Analysis Article • Feb 17
United States Cellular Corporation's (NYSE:USM) Business Is Yet to Catch Up With Its Share Price
When you see that almost half of the companies in the Wireless Telecom industry in the United States have...Analysis Article • Nov 29
Is United States Cellular (NYSE:USM) A Risky Investment?
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Seeking Alpha • Nov 02
United States Cellular Q3 Earnings: 2 Very Different Paths
Summary US Cellular's Q3 earnings were disappointing with misses on both EPS and Revenue. If the sale to T-Mobile is approved, US Cellular shareholders are likely to see significant upside from the sale price, additional spectrum sales, and remaining assets. If the sale is not approved, shareholders are left with a struggling and underinvested telecom business. Read the full article on Seeking AlphaSeeking Alpha • Oct 23
United States Cellular Exits Wireless Business: What The T-Mobile And Verizon Deals Mean For Investors
Summary United States Cellular plans to sell its wireless operations and 30% of its spectrum to T-Mobile for $4.4 billion, exiting the wireless business by mid-2025. U.S. Cellular will retain 70% of its spectrum, 4,400 towers, and key investments, focusing on fiber infrastructure and fixed wireless broadband solutions. Combined, the $1 billion spectrum sale to Verizon and the T-Mobile deal will boost USM's cash by $3.4 billion and reduce debt by $2 billion. Despite revenue declines, USM stock's valuation remains attractive with a potential book value increase to $8 billion, justifying a "Buy" rating. My main cause for concern is the uncertainty regarding the actual details of the deals themselves and how they'll ultimately shape UScellular's balance sheet post-transaction. Read the full article on Seeking AlphaAnalysis Article • Sep 16
Revenues Not Telling The Story For United States Cellular Corporation (NYSE:USM)
With a median price-to-sales (or "P/S") ratio of close to 0.8x in the Wireless Telecom industry in the United States...
New Narrative • Aug 31
Monetizing Spectrum And Expanding 5G To Propel Growth Amidst Competitive Challenges
Enhanced network capacity with mid-band 5G deployment aimed at handling significant data traffic, hinting at better customer satisfaction and subscriber growth.Analysis Article • Jul 24
Here's Why United States Cellular (NYSE:USM) Has A Meaningful Debt Burden
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Analysis Article • Jun 01
Subdued Growth No Barrier To United States Cellular Corporation (NYSE:USM) With Shares Advancing 53%
United States Cellular Corporation ( NYSE:USM ) shareholders have had their patience rewarded with a 53% share price...Analysis Article • May 14
Returns On Capital At United States Cellular (NYSE:USM) Have Hit The Brakes
Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...Shareholder Returns
| AD | US Wireless Telecom | US Market | |
|---|---|---|---|
| 7D | -4.7% | -4.1% | 1.4% |
| 1Y | -35.4% | -13.8% | 25.7% |
Return vs Industry: AD underperformed the US Wireless Telecom industry which returned -13.8% over the past year.
Return vs Market: AD underperformed the US Market which returned 25.7% over the past year.
Price Volatility
| AD volatility | |
|---|---|
| AD Average Weekly Movement | 8.6% |
| Wireless Telecom Industry Average Movement | 6.5% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in US Market | 16.8% |
| 10% least volatile stocks in US Market | 3.1% |
Stable Share Price: AD has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: AD's weekly volatility (9%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1983 | 60 | Anthony J. Carlson | www.arrayinc.com |
Array Digital Infrastructure, Inc. owns and operates shared wireless communications infrastructure in the United States. The company deploys 5G and other wireless technologies through its 4,400 cell towers. It also leases tower space to tenants.
Array Digital Infrastructure, Inc. Fundamentals Summary
| AD fundamental statistics | |
|---|---|
| Market cap | US$3.36b |
| Earnings (TTM) | US$344.80m |
| Revenue (TTM) | US$187.99m |
9.7x
P/E Ratio17.9x
P/S RatioIs AD overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| AD income statement (TTM) | |
|---|---|
| Revenue | US$187.99m |
| Cost of Revenue | US$84.80m |
| Gross Profit | US$103.19m |
| Other Expenses | -US$241.61m |
| Earnings | US$344.80m |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 3.99 |
| Gross Margin | 54.89% |
| Net Profit Margin | 183.41% |
| Debt/Equity Ratio | 36.2% |
How did AD perform over the long term?
See historical performance and comparisonDividends
113.9%
Current Dividend Yieldn/a
Payout RatioDoes AD pay a reliable dividends?
See AD dividend history and benchmarks| Array Digital Infrastructure dividend dates | |
|---|---|
| Ex Dividend Date | Jun 11 2026 |
| Dividend Pay Date | Jun 25 2026 |
| Days until Ex dividend | 10 days |
| Days until Dividend pay date | 4 days |
Does AD pay a reliable dividends?
See AD dividend history and benchmarksCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/21 09:14 |
| End of Day Share Price | 2026/06/18 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Array Digital Infrastructure, Inc. is covered by 14 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| William Power | Baird |
| Zachary Silver | B. Riley Securities, Inc. |
| Michael Rollins | Citigroup Inc |