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MARKETS / NYSE / AD
NYSE · RADIOTELEPHONE COMMUNICATIONS · LARGE CAP

Array Digital Infrastructure, Inc. AD

18 fiscal years on record · USD · FY2025 reported · SEC filings only
$163.0M
▲ 58.3% YoY
$48.8M
$173.6M
▼ 79.9% YoY
In brief

What this company does

Array Digital Infrastructure, Inc. leases tower space to tenants and provides ancillary services. It also holds noncontrolling interests in primarily wireless operating companies and holds certain wireless spectrum licenses. As of December 31, 2025, it owned 4,450 towers in 19 states. It had approximately 60 full-time and part-time associates as of December 31, 2025. As of December 31, 2025, it was an 82.0%-owned subsidiary of Telephone and Data Systems, Inc. On August 1, 2025, United States Cellular Corporation changed its name to Array Digital Infrastructure, Inc.

Written from the business description in ARRAY DIGITAL INFRASTRUCTURE, INC.'s annual report to the U.S. Securities and Exchange Commission, filed 20 February 2026. Every sentence was checked against that document before publication.

Growth
USD 163.0M
Revenue, FY2025 · full 18-year series below
Revenue $B Net income $B
FY2025 · Revenue 0.2 · Net income 0.0
2B4B2008201120142017202020232025
Compound annual growth
−65.8%
−47.2%
−27.4%
−19.4%
+17.6%
−26.6%
−14.8%
−6.6%
+17.0%
−26.6%
−15.0%
−6.6%
−21.7%
−2.2%
−6.1%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at −47.2% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
42 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating -56.8% · Net 42.5%
20%40%-100%-200%2008201120142017202020232025
ROE
FY2025 · ROE 1.4%
2.0%4.0%6.0%-0.5%-1.0%2008201120142017202020232025

Each USD of equity produced 1 cents of profit this year.

Cash & shareholders
USD 20.6M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 173.6
400M800M-200M-400M2008201120142017202020232025
Net buybacks $M Dividends $M
FY2025 · Dividends — · Net buybacks 20.6
200M400M2008201120142017202020232025

USD 20.6M in buybacks — 42% of the year's profit went back to shareholders.

Total assetsUSD 4.7B
EquityUSD 2.6B
CashUSD 113.4M
Gross debtUSD 670.3M
Net debtUSD 556.9M
Current ratio0.72×

Net debt stands at 22% of equity.

The 18-year record
18 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 202520242023202220212020201920182017201620152014201320122011201020092008
Revenue $B0.20.10.14.14.04.03.93.93.94.04.03.93.94.54.34.24.24.2
Operating income $B−0.1−0.3−0.10.10.20.20.10.2−0.30.00.3−0.10.10.20.30.20.30.0
EBITDA $B−0.1−0.2−0.10.80.80.80.80.80.30.70.90.50.90.80.80.80.90.6
Income tax $B−0.0−0.00.00.00.00.00.10.1−0.30.00.2−0.00.10.10.10.10.10.0
Net income $B0.0−0.00.10.00.20.20.10.10.00.00.2−0.00.10.10.20.10.20.0
Free cash flow $B0.20.90.80.20.10.20.10.20.00.1−0.0−0.4−0.40.10.20.30.30.3
EPS, diluted $0.56−0.460.630.351.772.621.441.720.140.562.84−0.511.651.302.051.572.400.38
Dividend / sh $23.00···········5.75·····
Payout %············344·····
ROE %1.4−0.91.20.73.55.33.13.90.31.37.0−1.33.93.04.94.06.2·
Shares out B0.090.090.090.090.090.090.090.090.090.090.080.080.080.080.080.090.09·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

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Provenance
Company facts, as filed
How we verify · 0 failures in 70 reconciliationsAUDITED

Reconciled in 18 of 19 fiscal years. 12 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityRadiotelephone Communications
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2008

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