SHLS
Shoals Technologies Group Inc
NASDAQ: SHLS · TECHNOLOGY · SOLAR
$7.34
-4.05% today
Updated 2026-04-29
Market cap
$1.23B
P/E ratio
36.70
P/S ratio
2.59x
EPS (TTM)
$0.20
Dividend yield
—
52W range
$4 – $11
Volume
5.6M
Shoals Technologies Group Inc (SHLS) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $103.75M | $144.50M | $175.52M | $213.21M | $326.94M | $488.94M | $399.21M | $475.33M |
| Revenue growth (YoY) | — | +39.3% | +21.5% | +21.5% | +53.3% | +49.6% | -18.4% | +19.1% |
| Cost of revenue | $75.58M | $100.28M | $108.97M | $130.57M | $195.63M | $320.63M | $257.19M | $308.82M |
| Gross profit | $28.17M | $44.21M | $66.55M | $82.64M | $131.31M | $168.30M | $142.02M | $166.51M |
| Gross margin | 27.1% | 30.6% | 37.9% | 38.8% | 40.2% | 34.4% | 35.6% | 35.0% |
| R&D | — | — | — | — | — | — | — | — |
| SG&A | $8.90M | $9.06M | $21.01M | $37.89M | $55.91M | $80.72M | $82.25M | $101.52M |
| Operating income | $11.09M | $26.93M | $37.28M | $36.23M | $66.33M | $79.03M | $51.17M | $56.38M |
| Operating margin | 10.7% | 18.6% | 21.2% | 17.0% | 20.3% | 16.2% | 12.8% | 11.9% |
| EBITDA | $20.08M | $36.09M | $46.68M | $28.63M | $181.05M | $89.56M | $64.32M | $67.11M |
| EBITDA margin | 19.4% | 25.0% | 26.6% | 13.4% | 55.4% | 18.3% | 16.1% | 14.1% |
| EBIT | $11.09M | $26.93M | $37.28M | $18.58M | $170.54M | $79.03M | $51.69M | $58.51M |
| Interest expense | $2.44M | $1.79M | $3.51M | $14.55M | $18.54M | $24.10M | $13.83M | $9.99M |
| Income tax | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $8.65M | $25.14M | $33.77M | $2.35M | $127.61M | $39.97M | $24.13M | $33.57M |
| Net income growth (YoY) | — | +190.8% | +34.3% | -93.0% | +5334.9% | -68.7% | -39.6% | +39.2% |
| Profit margin | 8.3% | 17.4% | 19.2% | 1.1% | 39.0% | 8.2% | 6.0% | 7.1% |