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Array Inc (3664) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Array Inc stock TWD 6.14, price TWD 8.05, that is 23.8% below the price, quality 22 out of 100. Rating: overvalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

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Technology TW · Based in US

AI Array Inc logo Thin data Nov 7, 2026

Array Inc

3664 · TWO
Expensive, weak quality

Our calculation puts a fair price 24% below what the stock costs today.

Low debt
Mixed vs. peers (4/10)
Revenue last quarter 34% below a year ago.
Fair value 6.14 TWD · Overvalued
Quality 22/100
Weak Growth (revenue 5y +1.2 %/yr in TWD)
Loss-making · -71.4% net margin (TTM)
Negative free cash flow
Narrow moat 22/100
Thin data
⚠ Dilution
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

41.90 TWD 4.88 TWD Fair Value 6.14 TWD May 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.

How to read this chart

60‑month range 4.88 TWD – 41.90 TWD · fair‑value band 4.74 TWD – 9.21 TWD · the 8.05 TWD price screens above the 6.14 TWD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.

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Company profile

Array Inc. engages in the research, manufacturing, and sale of application delivery controllers, high-end SSL VPN systems, remote desktop access solutions, and application acceleration and WAN optimization controllers.

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The company also offers network functions platform; and Zentry for modernizing secure access, which helps customers migrate to zero trust security model from perimeter model, such as firewall and VPN. It operates in the Unites States, India, Japan, China, and internationally.

Array Inc. was incorporated in 2008 and is based in Milpitas, California. Array Inc. is a subsidiary of Softstar Entertainment Inc.

Stock analysis

Array Inc (3664) currently trades at 8.05 TWD, while our model-based Fair Value estimate is 6.14 TWD, 24% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the data coverage at low.

Scenario range: 4.74 TWD (bear) to 9.21 TWD (bull), the price of 8.05 TWD sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 22/100 (below-average quality), in the Technology sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Array Inc reported revenue of 538M TWD in FY2025 versus 433M TWD in FY2021, a compound +5.5%/yr. Reported net income was −357M TWD in FY2025.

Key figures

Market cap 610M TWD (≈ $18.6M) Micro · P/S ratio 1.49 · EPS (TTM) −7.21 TWD · Net margin −66.3% · Return on equity −152% · Return on assets (EBIT) −11.0% (5-year average) · Operating margin 16.5% · Revenue (TTM) 431M TWD.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 22 out of 100 (medium confidence).

What moves the price

The share trades about 57% below its 52-week high and 65% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −45% fair-value upside, at −24%, 3664 screens cheaper than that median.

Fair Value models

Bear 4.74 TWD Fair Value 6.14 TWD Bull 9.21 TWD
Price 8.05 TWD · Downside -23.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
NCAV (Graham) 5.58 TWD 7.22 TWD 10.83 TWD 54
All 1 models by family
Asset-Based
NCAV (Graham) 5.58 TWD 7.22 TWD 10.83 TWD 54

The fair value above starts from this blend and is adjusted for dilution from new shares.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 22/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 27
How much profit the company makes from its sales and capital
Quality Growth 15
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 18
Debt, balance sheet and risk of trouble
Investment 98
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Price momentum 46
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 11
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 8/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−24.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1.2%
Start year 2020 (pandemic)
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.1%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−13.3% (2020) → −34.2% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

3664 screens overvalued: fair value 24% below the price. Compare with Cisco Systems, Inc →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Communication Equipment · 303 stocks

Beats the industry median on 3/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 22 · Bottom 25%
Fair Value upside −23.8% · Above median
Profitability
Return on assets −49.3% · Bottom 25%
Net margin (12 months) −71.4% · Bottom 25%
Operating margin (12 months) 16.5% · Top 25%
Growth and dividend
Revenue growth (quarter YoY) −33.5% · Bottom 25%

Valuation Multiplesvs Communication Equipment median · lower = cheaper

P/B 6.67× · Priciest 25%
P/S (12 months) 1.42× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)2 · sector 0
FUTURE (revenue growth)0 · sector 57
PAST (return on equity)0 · sector 21
HEALTH (low debt)100 · sector 98
DIVIDEND (yield)0 · sector 24

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Communication Equipment stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Cisco Systems, Inc CSCO $93.85 $103.24 +10% vs 3664
Eoptolink Technology Inc 300502 ¥172.10 ¥189.31 +10% vs 3664
Ubiquiti Inc UI $592.84 $652.12 +10% vs 3664
Zhongji Innolight Co 300308 ¥448.00 ¥342.18 −24% vs 3664
Nokia Oyj NOKIA €6.98 €3.87 −45% vs 3664
Motorola Solutions, Inc MSI $514.51 $249.63 −51% vs 3664
Foxconn Industrial Internet Co 601138 ¥40.71 ¥13.93 −66% vs 3664
Ciena Corporation CIEN $243.39 $74.58 −69% vs 3664
Yangtze Optical Fibre And Cable Joint Stock Limited 601869 ¥240.00 ¥59.92 −75% vs 3664
Lumentum Holdings LITE $538.59 $85.88 −84% vs 3664

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Array Inc: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Array Inc Fair Value". https://www.fairvalue-calculator.com/stock/3664

Frequently asked questions

Is Array Inc (3664) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 6.14 TWD versus a price of 8.05 TWD, about 24% lower (overvalued).
What is the fair value of 3664?
Our model-based fair value for Array Inc is 6.14 TWD (as of Nov 7, 2026), built from audited fundamentals. The current price: 8.05 TWD.
What is the quality score of 3664?
Array Inc has a Quality Score of 22/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Array Inc (3664)?
Our model-based price target is the fair value of 6.14 TWD (as of Nov 7, 2026) from 1 valuation models. Cautious scenario 4.74 TWD, optimistic scenario 9.21 TWD. It is a calculation from audited fundamentals, not an analyst target.
What is the Array Inc stock forecast for 2026?
Our models put fair value at 6.14 TWD, about 24% lower versus a price of 8.05 TWD (overvalued). Cautious scenario 4.74 TWD, optimistic scenario 9.21 TWD. The calculation is refreshed regularly with new filings.
What is the revenue of Array Inc (3664)?
Array Inc reported trailing-twelve-month revenue of about 431M TWD (latest available figure, as of Nov 7, 2026).
What is the intrinsic value of Array Inc (3664)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Array Inc it is 6.14 TWD per share (as of Nov 7, 2026), against a price of 8.05 TWD. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Array Inc stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 3664 trades above its calculated fair value: price 8.05 TWD, fair value 6.14 TWD, a gap of about −24% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 3664?
No. The price is what the market pays today (8.05 TWD); the fair value is what the company's own numbers justify (6.14 TWD). For Array Inc the two are 1.91 TWD per share apart. That gap is exactly why we show both numbers side by side.
How much is Array Inc worth?
The market values Array Inc at about 610M TWD (market capitalisation, as of Nov 7, 2026). Per share that is 8.05 TWD; our models calculate a fair value of 6.14 TWD per share.
What do the bullish and bearish scenarios say about 3664?
Our models span a range for Array Inc: cautious scenario 4.74 TWD, base 6.14 TWD, optimistic 9.21 TWD per share (as of Nov 7, 2026, price 8.05 TWD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Array Inc (3664)?
Balance-sheet figures for Array Inc (as of Nov 7, 2026): return on equity −152.3%. They feed the Quality Score of 22/100, which measures business quality independently of the share price.
How far is 3664 from its 52-week high?
Array Inc trades at 8.05 TWD, about 57% below its 52-week high of 18.55 TWD and 65% above the low of 4.88 TWD (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 6.14 TWD is for.
Which stocks are comparable to Array Inc?
From the same area (Technology) we also value Cisco Systems, Inc, Foxconn Industrial Internet Co, Zhongji Innolight Co, Motorola Solutions, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Array Inc stock attractive at the current price?
The data as of Nov 7, 2026: price 8.05 TWD, calculated fair value 6.14 TWD (−24%), Quality Score 22/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 3664 calculated?
We run Array Inc through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of 6.14 TWD builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Array Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Array Inc (3664)?
The closing price on Nov 6, 2026 was 8.05 TWD. Our model-based fair value is 6.14 TWD, about 24% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Array Inc right now?
Weak quality (22/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range (4.74 TWD to 9.21 TWD) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Array Inc

How large is the market capitalisation of Array Inc (3664)?
The market capitalisation of Array Inc is 610M TWD (≈ $18.6M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Array Inc (3664)?
The price-to-sales ratio of Array Inc is 1.49 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Array Inc (3664)?
Earnings per share at Array Inc are −7.21 TWD. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Array Inc (3664)?
The net margin of Array Inc is −66.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Array Inc (3664)?
The return on equity (ROE) of Array Inc is −152% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Array Inc (3664)?
On an EBIT basis the return on assets of Array Inc is −11.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Array Inc (3664)?
The operating margin of Array Inc is 16.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Array Inc (3664)?
Revenue at Array Inc is growing −33.5% versus a year earlier (3y avg +5.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Array Inc (3664)?
Earnings per share at Array Inc are growing +25.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Array Inc (3664) generate?
The free cash flow of Array Inc is −117M TWD (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Array Inc (3664) carry?
The net debt of Array Inc is 59.4M TWD (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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