Saturday 17 October 2026
Export SHLS’s income statement to Excel — free account
Shoals Technologies Group, Inc.
SHLS Technology Solar
Shoals Technologies Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $475.3 million, up 19.1% from fiscal 2024. In the quarter to June 2026, revenue grew 47.4%, EPS fell 12.5%, free cash flow grew 99.0% and total debt rose 49.3%, each against the same quarter a year earlier.
7.17
0.59
−7.60%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | |
|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
6 | 5 | 5 | 5 | 5 | 7 | — | — | — |
P/E ratio |
42.86 | 37.26 | 60.68 | 22.37 | 0.00 | 1,100.00 | 1,100.00 | 1,100.00 | — |
Altman Z-Score |
3.91 | 3.42 | 6.32 | 6.97 | 3.98 | — | — | — | — |
P/S ratio |
2.99 | 2.34 | 5.09 | 8.38 | 11.31 | 28.29 | 28.29 | 28.29 | — |
Altman Z″-Score (non-manufacturers) |
3.91 | 4.20 | 3.88 | 3.13 | 0.79 | — | — | — | — |
P/FCF ratio |
0.00 | 12.95 | 30.60 | 75.51 | 0.00 | 97.66 | 97.66 | 97.66 | — |
P/Operating CF |
(347.86) | 66.64 | 94.17 | 79.59 | 929.21 | 310.98 | 310.98 | 310.98 | — |
Beneish M-Score |
(1.94) | (3.15) | (1.66) | (1.13) | (1.85) | (6.03) | (2.54) | — | — |
P/B ratio |
2.37 | 1.67 | 4.57 | 9.11 | 0.00 | 0.00 | 0.00 | 0.00 | — |
Price to Tangible BV |
2.86 | 2.09 | 5.84 | 15.71 | 0.00 | 0.00 | 0.00 | 0.00 | — |
EV/Sales |
3.27 | 2.64 | 5.42 | 9.09 | 12.45 | 30.28 | 30.28 | 30.28 | — |
EV/EBITDA |
21.93 | 15.73 | 28.88 | 37.99 | 50.80 | 112.99 | 112.99 | 112.99 | — |
EV/Operating CF |
91.00 | 13.09 | 28.81 | 75.31 | (650.08) | 98.26 | 98.26 | 98.26 | — |
EV/FCF |
(142.64) | 14.62 | 32.55 | 81.85 | (323.34) | 104.52 | 104.52 | 104.52 | — |
Quick Ratio |
1.24 | 1.51 | 1.83 | 1.45 | 1.59 | 1.70 | 1.50 | 2.32 | — |
Current Ratio |
2.03 | 2.33 | 2.45 | 2.92 | 2.96 | 2.33 | 1.90 | 3.29 | — |
Net Debt/EBITDA |
1.83 | 1.77 | 1.73 | 2.94 | 4.63 | 7.42 | 0.53 | 1.96 | — |
Debt/Assets |
15.13% | 17.87% | 21.50% | 40.19% | 57.94% | 183.72% | 13.89% | 21.30% | 0.00% |
Debt/Equity |
0.23 | 0.25 | 0.33 | 0.79 | (32.95) | (1.95) | 0.17 | 0.29 | — |
Asset Turnover |
0.56 | 0.49 | 0.68 | 0.64 | 0.69 | 0.92 | 0.77 | 1.12 | — |
Operating CF/Net income |
0.51 | 3.33 | 2.30 | 0.31 | (1.74) | 1.60 | 1.44 | 0.35 | — |
Capex/Depreciation |
(1.94) | (0.53) | (0.83) | (0.27) | (0.26) | (0.33) | (0.19) | (0.16) | — |
Interest Coverage |
5.64 | 3.70 | 3.28 | 3.58 | 2.49 | 10.62 | 15.07 | 4.54 | — |
| 5.80% | 4.38% | 9.45% | 86.96% | (2.45%) | (197.36%) | 17.45% | 6.00% | — | |
| 3.96% | 2.95% | 5.56% | 24.99% | 0.76% | 17.64% | 13.48% | 9.32% | — | |
ROIC |
4.83% | 4.74% | 7.02% | 7.80% | 9.65% | 14.15% | 9.97% | 3.90% | — |
Return on Tangible Assets |
18.26% | 17.78% | 25.08% | 108.34% | 3.03% | 75.36% | 76.38% | 23.91% | — |
Average Days of Receivables |
115.89 | 90.53 | 109.93 | 75.12 | 77.09 | 64.05 | 75.27 | 91.50 | — |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
Selling, General and Administrative Expense of Revenue |
21.36% | 20.60% | 16.51% | 17.10% | 17.77% | 11.97% | 6.27% | 8.58% | — |
Intangible Assets out of Total Assets |
0.11 | 0.14 | 0.14 | 0.21 | 0.32 | 0.63 | 0.69 | 0.74 | 0.00 |
Share Based Compensation of Revenue |
2.08% | 3.56% | 4.27% | 4.93% | 5.29% | 4.70% | 0.00% | 0.00% | — |
Graham Net Nets |
(0.03) | (0.05) | (0.03) | (0.05) | (0.14) | (0.07) | (0.07) | (0.07) | — |
Graham Number |
4.00 | 3.32 | 4.32 | 7.96 | 0.26 | 0.00 | 0.00 | 0.00 | — |
Earnings Yield |
2.33% | 2.68% | 1.65% | 4.47% | (0.16%) | 0.09% | 0.09% | 0.09% | — |
Free Cash Flow Yield |
(0.77%) | 7.72% | 3.27% | 1.32% | (0.34%) | 1.02% | 1.02% | 1.02% | — |
Revenue per Share |
2.84 | 2.37 | 2.98 | 2.86 | 2.15 | 1.10 | 1.61 | 1.15 | — |
Operating CF per Share |
0.10 | 0.48 | 0.56 | 0.34 | (0.04) | 0.34 | 0.40 | 0.03 | — |
Capex per Share |
(0.17) | (0.05) | (0.06) | (0.03) | (0.04) | (0.02) | (0.02) | (0.02) | — |
Free Cash Flow per Share |
(0.07) | 0.43 | 0.50 | 0.32 | (0.08) | 0.32 | 0.38 | 0.02 | — |
Cash per Share |
0.04 | 0.14 | 0.14 | 0.08 | 0.05 | 0.06 | 0.08 | 0.00 | — |
Shareholders Equity per Share |
3.59 | 3.30 | 3.32 | 2.63 | (0.08) | (1.15) | 1.67 | 1.54 | — |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — |
Book value per Share |
3.59 | 3.30 | 3.32 | 2.63 | (0.08) | (1.15) | 1.67 | 1.54 | — |
Free Cash Flow |
(10.89) | 72.00 | 81.38 | 36.30 | (8.21) | 50.85 | 34.46 | 1.60 | — |
Working Capital |
130.56 | 107.44 | 134.56 | 100.92 | 61.89 | 32.05 | 21.97 | 25.76 | — |
Capital Expenditures |
(27.95) | (8.39) | (10.58) | (3.15) | (4.13) | (3.24) | (1.72) | (1.40) | — |
Net Current Asset Value |
(46.24) | (47.93) | (71.81) | (140.37) | (340.46) | (323.29) | 8.81 | (10.26) | — |
EV/EBIT |
27.54 | 20.57 | 33.52 | 44.80 | 73.26 | 142.56 | 142.56 | 142.56 | — |
Capex to Sales |
0.06 | 0.02 | 0.02 | 0.01 | 0.02 | 0.02 | 0.01 | 0.01 | — |
Price to Operating Income |
25.21 | 18.22 | 31.51 | 41.32 | 66.58 | 133.21 | 133.21 | 133.21 | — |
| Other line items | |||||||||
Depreciation/Fixed assets |
0.27 | 0.56 | 0.51 | 0.70 | 1.03 | 0.76 | 0.84 | 0.87 | — |
Cash ROIC |
(1.46%) | 9.97% | 10.86% | 6.61% | (3.36%) | 27.52% | 18.83% | 0.90% | — |
Accounts Receivable Turnover |
3.80 | 3.24 | 4.56 | 5.82 | 5.62 | 5.79 | 5.18 | 3.72 | — |
Accounts Payable Turnover |
7.27 | 14.94 | 26.86 | 13.28 | 7.54 | 8.71 | 12.10 | 9.12 | — |
Inventory Turnover |
4.23 | 4.73 | 5.10 | 3.52 | 4.88 | 9.10 | 10.68 | 8.05 | — |
Average Days of Payables |
76.68 | 28.43 | 16.39 | 17.69 | 55.87 | 49.02 | 37.79 | 29.88 | — |
Days of Inventory on Hand |
106.23 | 79.44 | 60.11 | 135.93 | 107.26 | 50.65 | 32.15 | 48.01 | — |
Average Receivables |
124.97 | 123.13 | 107.27 | 56.16 | 37.92 | 30.30 | 27.90 | 27.90 | — |
Average Payables |
42.45 | 17.21 | 11.94 | 14.73 | 17.31 | 12.51 | 8.29 | 8.29 | — |
Average Inventory |
72.93 | 54.39 | 62.83 | 55.61 | 26.74 | 11.98 | 9.39 | 9.39 | — |
Average Assets |
848.59 | 818.54 | 719.44 | 510.65 | 310.86 | 191.46 | 186.57 | 92.77 | — |
Average Common Equity |
578.39 | 550.90 | 422.99 | 146.75 | (95.81) | (17.11) | 144.09 | 144.09 | — |
Columns are period end dates