SHLS
$7.17-7.60%
Shoals Technologies Group Inc.Stock · TechnologyRussell 2000 0.05%Nasdaq Composite 0.007%US Stock Market 0.002%Russell 3000 0.002%
SHLS financial statements
The full income statement, balance sheet, and cash-flow statement for Shoals Technologies Group Inc. (SHLS), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 170.1M2024-09 167.4M2024-12 166.8M2025-03 167.0M2025-06 167.6M2025-09 168.8M2025-12 167.5M2026-03 167.8M2026-06 168.3M-1.1% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 475M+19.1% | 399M-18.4% | 489M+49.6% | 327M+53.3% | 213M+21.5% | |
| 167M+17.2% | 142M-15.6% | 168M+28.2% | 131M+58.9% | 82.6M+24.2% | ||
| Cost of revenue | 309M+20.1% | 257M-19.8% | 321M+63.9% | 196M+49.8% | 131M+19.8% | |
| 110M+21.2% | 90.8M+1.8% | 89.3M+37.4% | 65.0M+40.0% | 46.4M+58.6% | ||
| Selling, general & administrative | 102M+23.4% | 82.3M+1.9% | 80.7M+44.4% | 55.9M+47.5% | 37.9M+80.4% | |
| General & administrative | 102M+23.4% | 82.3M+1.9% | 80.7M+44.4% | 55.9M+47.5% | 37.9M+80.4% | |
| Amortization of intangibles | 7.60M+0.0% | 7.60M-3.8% | 7.90M-9.2% | 8.70M+3.6% | 8.40M+5.0% | |
| Provision for credit losses | 0.00 | 0.00-100.0% | 296K+48.0% | 200K | 0.00 | |
| Operating income | 56.4M+10.2% | 51.2M-35.3% | 79.0M+19.2% | 66.3M+83.1% | 36.2M-2.8% | |
| Interest expense | 9.99M-27.7% | 13.8M-42.6% | 24.1M+30.0% | 18.5M+27.4% | 14.5M+314.5% | |
| Interest & investment income | 305K-41.1% | 518K | 0.00 | 0.00 | — | |
| Pre-tax income | 48.5M+28.1% | 37.9M-31.1% | 54.9M-63.9% | 152M+3671.7% | 4.03M | |
| Income tax | 14.9M+8.8% | 13.7M+11.9% | 12.3M+36.6% | 8.99M+10350.0% | 86.0K | |
| 33.6M+39.2% | 24.1M-39.6% | 40.0M-68.7% | 128M+5334.9% | 2.35M-93.0% | ||
| Net income to non-controlling interest | 0.00 | 0.00-100.0% | 2.69M-82.6% | 15.4M+865.0% | 1.60M | |
| Net income to common | 33.6M+39.2% | 24.1M-39.6% | 40.0M-68.7% | 128M | — | |
| $0.20+42.9% | $0.14-41.7% | $0.24-71.8% | $0.85 | — | ||
| EPS (basic) | $0.20+42.9% | $0.14-41.7% | $0.24-78.4% | $1.11 | — | |
| Weighted-avg shares (basic) | 167M-0.8% | 169M+2.7% | 164M+43.4% | 114M | — | |
| Weighted-avg shares (diluted) | 168M-0.2% | 169M+2.6% | 165M-1.9% | 168M | — | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 258M+36.9% | 188M-17.1% | 227M+48.0% | 154M+64.3% | 93.4M+66.4% | ||
| Cash & equivalents | 7.32M-68.9% | 23.5M+3.5% | 22.7M+159.0% | 8.77M+75.1% | 5.01M-50.3% | |
| Accounts receivable | 129M+64.7% | 78.2M-27.0% | 107M+111.8% | 50.6M+60.6% | 31.5M+16.6% | |
| Inventory | 89.9M+60.6% | 56.0M+6.0% | 52.8M-27.5% | 72.9M+89.9% | 38.4M+153.7% | |
| Other current assets | 9.76M-0.9% | 9.85M+122.8% | 4.42M-4.6% | 4.63M-8.1% | 5.04M+3152.9% | |
| 904M+14.0% | 793M-6.0% | 844M+41.9% | 595M+39.5% | 426M+118.3% | ||
| Property, plant & equipment | 53.3M+88.9% | 28.2M+13.6% | 24.8M+47.2% | 16.9M+8.3% | 15.6M+22.0% | |
| Operating lease right-of-use | 46.0M+2478.1% | 1.79M-37.8% | 2.87M-29.3% | 4.06M | — | |
| Goodwill | 69.9M+0.0% | 69.9M+0.0% | 69.9M+0.0% | 69.9M+0.7% | 69.4M+38.4% | |
| Intangible assets | 33.5M-18.5% | 41.1M-15.6% | 48.7M-14.0% | 56.6M-13.3% | 65.2M-9.4% | |
| Deferred tax assets | 438M-3.6% | 454M-3.0% | 468M+60.5% | 292M+64.8% | 177M | |
| Other non-current assets | 5.40M-43.4% | 9.54M+84.6% | 5.17M-18.3% | 6.33M+9.8% | 5.76M+36.0% | |
| 127M+57.4% | 80.9M-12.7% | 92.6M+76.0% | 52.6M+66.8% | 31.6M+30.9% | ||
| Accounts payable | 64.9M+223.9% | 20.0M+39.1% | 14.4M+51.8% | 9.48M-52.6% | 20.0M+36.6% | |
| Accrued liabilities | — | — | — | — | 9.57M+60.4% | |
| Deferred revenue | 37.0M+97.6% | 18.7M-15.6% | 22.2M-4.7% | 23.3M+1165.6% | 1.84M | |
| Short-term & current debt | — | 0.00-100.0% | 2.00M+0.0% | 2.00M+0.0% | 2.00M-42.9% | |
| Current lease liability | 3.22M+265.2% | 881K-22.7% | 1.14M-1.9% | 1.16M | 0.00 | |
| 304M+28.7% | 236M-21.0% | 299M+1.7% | 294M-32.3% | 434M+14.4% | ||
| Long-term debt | — | 142M-21.0% | 179M-24.3% | 237M-3.3% | 245M-31.0% | |
| Non-current lease liability | 38.7M+3030.4% | 1.24M-41.6% | 2.12M-35.0% | 3.26M | — | |
| Operating lease liability (total) | 41.9M+1879.1% | 2.12M-35.0% | 3.26M-26.3% | 4.42M | — | |
| Other non-current liabilities | 991K+0.0% | 991K-68.1% | 3.11M-26.4% | 4.22M+353.4% | 931K | |
| 600M+7.8% | 557M+2.2% | 545M+87.0% | 291M+11313.0% | 2.55M+101.4% | ||
| Preferred stock | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Additional paid-in capital | 493M+2.0% | 484M+2.8% | 471M+83.2% | 257M+168.5% | 95.7M | |
| Retained earnings | 132M+34.1% | 98.6M+32.4% | 74.5M+115.9% | 34.5M+137.0% | -93.1M | |
| Treasury stock | 25.3M-0.2% | 25.3M | 0.00 | — | — | |
| Non-controlling interest | — | — | 0.00-100.0% | 9.62M+195.7% | -10.1M | |
| Total equity incl. non-controlling | 600M+7.8% | 557M+2.2% | 545M+81.1% | 301M+4114.3% | -7.50M+95.9% | |
| Total liabilities & equity | 904M+14.0% | 793M-6.0% | 844M+41.9% | 595M+39.5% | 426M+118.3% | |
| Common shares outstanding | 167M+0.4% | 167M-2.0% | 170M+0.5% | 169M | — | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 17.1M-78.8% | 80.4M-12.6% | 92.0M+133.1% | 39.5M+1066.3% | -4.08M-107.5% | ||
| Depreciation & amortization | 13.8M+9.4% | 12.6M+19.9% | 10.5M+0.2% | 10.5M+4.5% | 10.1M+6.9% | |
| Intangible amortization | 7.60M+0.0% | 7.60M-3.8% | 7.90M-9.2% | 8.70M+3.6% | 8.40M+5.0% | |
| Share-based compensation | 9.90M-30.4% | 14.2M-31.8% | 20.9M+29.5% | 16.1M+42.7% | 11.3M+36.8% | |
| Deferred income taxes | 16.1M+14.9% | 14.0M+23.8% | 11.3M+34.8% | 8.41M+669.5% | -1.48M | |
| Change in receivables | 50.6M+274.9% | -28.9M-150.9% | 56.8M+195.9% | 19.2M+2448.0% | -818K-184.0% | |
| Change in inventory | 35.1M+500.8% | 5.84M+138.9% | -15.0M-140.6% | 36.9M+114.8% | 17.2M+165.5% | |
| Change in payables | 43.3M+668.6% | 5.64M+9.0% | 5.17M+146.9% | -11.0M-184.5% | -3.88M-191.2% | |
| Other operating activities | 1.05M | 0.00 | 0.00 | — | — | |
| -28.0M-233.1% | -8.39M+22.6% | -10.8M-196.6% | -3.66M+78.5% | -17.0M-426.4% | ||
| Capital expenditure | 33.0M+293.7% | 8.39M-20.7% | 10.6M+235.4% | 3.15M-23.6% | 4.13M+27.5% | |
| Free cash flow | -16.0M-122.2% | 72.0M-11.5% | 81.4M+124.2% | 36.3M+542.2% | -8.21M-116.1% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00-100.0% | 12.9M | |
| Proceeds from sale of PP&E | 5.09M | 0.00 | 0.00 | — | — | |
| Other investing activities | 0.00 | 0.00-100.0% | 269K-46.5% | 503K | 0.00 | |
| -5.30M+92.6% | -71.2M-6.0% | -67.2M-83.6% | -36.6M-277.6% | 20.6M+143.1% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00-100.0% | 42.9M-84.7% | 281M | |
| Common stock repurchased | 0.00-100.0% | 25.3M | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net change in cash | -16.2M-2113.8% | 804K-94.2% | 13.9M+1862.5% | -791K-53.3% | -516K-117.3% | |
| Interest paid | 9.11M-44.1% | 16.3M-29.5% | 23.1M+79.9% | 12.8M+18.8% | 10.8M+256.4% | |
| Income taxes paid | -183K-267.9% | 109K-91.8% | 1.32M+68.4% | 786K-33.9% | 1.19M | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 1.42B+54.3% | 922M-65.1% | 2.64B-5.7% | 2.80B | — | |
| P/E | 42.4×+10.9% | 38.2×+96.8% | 19.4×-90.9% | 212.9×-27.8% | 294.7× | |
| P/S | 3.0×+29.6% | 2.3×-60.4% | 5.8×-41.7% | 10.0× | — | |
| P/B | 2.4×+43.2% | 1.7×-67.1% | 5.0×-95.3% | 106.1× | — | |
| P/FCF | — | 12.8×-55.6% | 28.9×-96.3% | 784.0× | — | |
| Earnings yield | 2.4%-9.8% | 2.6%-49.2% | 5.1%+996.1% | 0.47%+38.4% | 0.34% | |
| FCF yield | — | 7.8%+125.2% | 3.5%+2617.4% | 0.13% | — | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: SHLS’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all SHLS filings on SEC EDGAR → Not investment advice.