Array Digital Infrastructure, Inc. (AD)

Radiotelephone Communications

Latest Price

$32.35

TTM P/E

5.22

Normalized P/E

20.22

TTM Div Yield

Fwd Div Yield

Book Value

14.63

P/B Ratio

2.21

Valuation metrics

EPS: $0.56

Book value / share: $29.72

Formula: √(22.5 × EPS × BVPS)

Graham Number

$19.35

42% downside

Norm. op. income: $112M (median of 7yr)

Tax rate: 28%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$2.87

91% downside

Base FCF: $230M (median of recent 5yr)

Growth: 19%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$117.84

+252% upside

EPS: $0.56

Target P/E: 21×

Formula: EPS × P/E

P/E Fair Value

$11.76

65% downside

31.5% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
Dimensional Fund Advisors LP	2.27M	$82.0M	4.25%	-30.4K	2026-06-30
Hawk Ridge Capital Management LP	1.82M	$65.0M	3.40%	--	2026-06-30
Jericho Capital Asset Management L.P.	1.82M	$65.0M	3.40%	--	2026-06-30
Madison Avenue Partners, LP	1.11M	$40.0M	2.08%	--	2026-06-30
American Century Companies Inc	766.1K	$27.0M	1.43%	+159.4K	2026-06-30
Bank of America Corp	740.6K	$26.0M	1.39%	-1.79M	2026-06-30
Loomis Sayles & Co L P	707.4K	$25.0M	1.32%	-33.0K	2026-06-30
Oaktree Capital Management LP	696.9K	$25.0M	1.30%	-27.6K	2026-06-30
Vanguard Capital Management LLC	695.4K	$25.0M	1.30%	+13.2K	2026-06-30
Vanguard Portfolio Management LLC	657.5K	$23.0M	1.23%	-9.8K	2026-06-30