SHLS · Shoals Technologies Group, Inc.

$7.14 -0.28 (-3.77%) At close · Aug 28

Russell 2000 member Rebalance outlook locked

Market Cap

$1.21B

168.30M

Income-statement, balance-sheet and cash-flow figures extracted from the company's SEC filings — 10-K annual and 10-Q quarterly reports — and standardised for comparison across periods.

Revenue

$475.33M +19.1%

FY2025

Net Income

$33.57M +39.2%

FY2025

Gross Margin

35.03% -0.5pp

FY2025

Operating Margin

11.86% -1pp

FY2025

Diluted EPS

$0.20 +42.9%

FY2025

Operating Cash Flow

$17.07M -78.8%

FY2025

Chart any reported metric, KPI or segment over time — the full statement history lives here

Income Statement Balance Sheet Cash Flow Adjusted All Metrics

Annual Quarterly

Line Item	3Y	5Y	10Y	FY2026 (G)	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Revenue	+13.3%	+22.0%	—	$600M – $640M	$588.06M	$475.33M^G	$399.21M^G	$488.94M^G	$326.94M^G	$213.21M	$175.52M	$144.5M
Cost of Revenue	+16.4%	+23.2%	—	—	$400.36M	$308.82M	$257.19M	$320.64M	$195.63M	$130.57M	$108.97M	$100.28M
Gross Profit	+8.2%	+20.1%	—	—	$187.7M	$166.51M	$142.02M	$168.3M	$131.31M	$82.65M	$66.55M	$44.21M
Gross Margin	—	—	—	—	—	35.03%	35.57%	34.42%	40.16%	38.76%	37.91%	30.6%
General & Administrative	+22.0%	+37.0%	—	—	$116.25M	$101.52M	$82.25M	$80.72M	$55.91M	$37.89M	$21.01M	$9.07M
Amortization of Intangibles	-4.4%	-1.0%	—	—	$7.6M	$7.6M	$7.6M	$7.9M	$8.7M	$8.4M	$8M	$8M
Depreciation & Amortization	+9.6%	+8.0%	—	—	$14.83M	$13.82M	$12.63M	$10.53M	$10.51M	$10.05M	$9.41M	$9.16M
Total Operating Expenses	+19.2%	+30.3%	—	—	$125.19M	$110.12M	$90.85M	$89.27M	$64.98M	$46.41M	$29.27M	$17.28M
Operating Income	-5.3%	+8.6%	—	—	$62.52M	$56.39M	$51.17M	$79.04M	$66.33M	$36.23M	$37.28M	$26.93M
Operating Margin	—	—	—	—	—	11.86%	12.82%	16.16%	20.29%	16.99%	21.24%	18.64%
EBITDA	-3.0%	+8.5%	—	—	$77.34M	$70.2M	$63.8M	$89.56M	$76.84M	$46.29M	$46.68M	$36.09M
Interest Expense	-18.6%	+23.3%	—	—	$11.72M	$9.99M	$13.83M	$24.1M	$18.54M	$14.55M	$3.51M	$1.79M
Interest Income	—	—	—	—	$438K	$305K	$518K	$0	$0	—	—	—
Pretax Income	-31.7%	—	—	—	—	$48.52M	$37.86M	$54.94M	$152M	$4.03M	—	—
Income Tax	+18.5%	—	—	—	$12.8M	$14.94M	$13.74M	$12.27M	$8.99M	$86K	$0	$0
Net Income	-35.9%	-0.1%	—	—	$31.84M	$33.57M	$24.13M	$39.97M	$127.61M	$2.35M	$33.77M	$25.14M
Net Margin	—	—	—	—	—	7.06%	6.04%	8.18%	39.03%	1.1%	19.24%	17.4%
Net Income Attributable to Noncontrolling Interests	—	—	—	—	—	$0	$0	$2.69M	$15.4M	$1.6M	$0	$0
Net Income Available to Common Stockholders	-35.9%	—	—	—	$31.84M	$33.57M	$24.13M	$39.97M	$127.61M	—	—	—
EPS (Basic) USD/shares	-43.5%	—	—	—	$0.19	$0.20	$0.14	$0.24	$1.11	—	—	—
EPS (Diluted) USD/shares	-38.3%	—	—	—	$0.19	$0.20	$0.14	$0.24	$0.85	—	—	—
Shares Outstanding (Basic Avg) shares	+13.5%	—	—	—	—	167.26M	168.57M	164.17M	114.5M	—	—	—
Shares Outstanding (Diluted Avg) shares	+0.1%	—	—	—	—	168.38M	168.73M	164.5M	167.63M	—	—	—

Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing. TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative. (G): the company's own guidance — a (G) column is a guided period not yet reported; a G marker shows how the reported figure landed against the guided range. Non-GAAP-basis guidance (*) is shown as stated and never judged against GAAP actuals.

Capital Returned to Shareholders

Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2022–FY2025: $25.33M in buybacks.

Price & Valuation

Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.

Valuation

EV/Revenue

2.23×

Solar median 1.05×

EV/EBIT

21.01×

Solar median 47.43×

P/E (TTM)

37.76×

Solar median 17.88×

EV/Adj. EBITDA (FY2025)

13.20×

EV/Adj. EBITDA uses the company-stated “Adjusted EBITDA”, extracted from the reconciliation in its SEC filings — the company's own non-GAAP definition, not an XBRL-tagged figure.

Valuation over time computed as of each quarter's filing date

EV/Adj. EBITDA uses the company-stated “Adjusted EBITDA”, extracted from the reconciliation in its SEC filings as it existed at each sample date — the company's own non-GAAP definition, not an XBRL-tagged figure. Each point's tooltip names its TTM or fiscal-year basis.

Revenue Breakdown

Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.

Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.

By Segment (USD)

Component	FY2025	FY2024	FY2023	FY2022
Electrical Balance of System EBOS Solutions and Components	$475,331,000	$399,208,000	$488,939,000	$326,940,000

By Product & Service (USD)

Component	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
System Solutions	$374,189,000	$306,145,000	$398,384,000	$254,415,000	$155,818,000	$116,720,000	$74,207,000
Components	$101,142,000	$93,063,000	$90,555,000	$72,525,000	$57,394,000	$58,798,000	—
Solar Components	—	—	—	—	—	—	$70,289,000

Segment Operating Income

Annual operating income by business segment, as tagged in the company's own XBRL filings. Segments need not sum to the consolidated figure — corporate costs and eliminations are typically unallocated.

By Segment (USD)

Component	FY2025	FY2024	FY2023	FY2022
Electrical Balance of System EBOS Solutions and Components	$56,385,000	$51,172,000	$79,035,000	$66,330,000

Operating Margin by Segment (%)

Component	FY2025	FY2024	FY2023	FY2022
Electrical Balance of System EBOS Solutions and Components	11.9%	12.8%	16.2%	20.3%

Key facts CIK 1831651 CUSIP 82489W107 13F (30d) 249 filings 238 filers Visit website Investor relations