The Short Answer
ARRY is doubtful under the current filing-backed screen. Solar-tracker manufacturing is generally permissible, but debt/assets fails all three examined asset-based methods.
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-13.
679.464 / 1,475.027
200.702 / 1,475.027
493.029 / 1,475.027
2.387 / 223.412
- Financial
- Fails
- Overall
- Fails
Debt/assets is 46.06%, above the 33.333% limit; liquidity/assets is 13.61%, receivables plus cash/assets is 33.43% and interest income/revenue is 1.07%.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 46.06% and receivables plus cash/assets is 33.43%, above the examined MSCI limits; liquidity/assets is below its limit.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 46.06%, above the examined Malaysia SAC limit; liquidity/assets is below its limit.
- Financial
- Not calculated
- Overall
- Fails
No licensed historical market-cap series is stored; the asset-based financial screens fail on debt/assets.
Business-activity disclosure
Array Technologies designs and manufactures utility-scale solar tracker systems. Solar hardware is generally permissible, while acquisition leverage and downstream customer use remain qualitative context.
Limitation: The filing does not allocate revenue into a universal prohibited-activity numerator, so no percentage is invented.
Purification
The filing discloses $2.387 million of interest income; ZakatInvest does not prescribe a fixed scholar-approved purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from Array Technologies' March 31, 2026 Form 10-Q.
- Debt uses reported principal of term loans, notes and other debt; receivables include the filing's unbilled receivables.
- Quarterly revenue was $223.412 million and disclosed interest income was $2.387 million.
- Array designs utility-scale solar trackers; the filing does not provide a universal prohibited-revenue numerator.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
Business activity
Array designs and manufactures ground-mounted single-axis trackers for utility-scale solar plants. The hardware business is generally permissible. Utility-scale demand, trade policy and customers that are conventional utilities are context rather than a finding that the hardware itself is prohibited.
What the filing changes
The March 31, 2026 filing reports $679.5 million of debt against $1,475.0 million of assets, or 46.06%. Receivables plus cash/assets is 33.43%, just above the examined MSCI limit; disclosed interest income was $2.387 million.
Bottom line
ARRY remains doubtful. Check the next filing and apply the methodology and school used by your adviser.