Symbols / SHLS Stock $7.94 +2.19% Shoals Technologies Group, Inc.

Technology • Solar • United States • NGM
SHLS (Stock) Chart
O: — H: — L: — C: — V: —
SMA 20: — SMA 50: — SMA 200: —
Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Technology
Industry Solar
CEO Mr. Brandon Moss
Exch · Country NGM · United States
Market Cap 1.33B
Enterprise Value 1.50B
Income 33.57M
Sales 475.33M
FCF (ttm) -9.89M
Book/sh 3.58
Cash/sh 0.04
Employees 1,480
Insider 10d —
IPO Jan 28, 2021
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 0.00%
P/E 39.70
Forward P/E 15.47
PEG 0.80
P/S 2.80
P/B 2.22
P/C —
EV/EBITDA 16.93
EV/Sales 3.15
Quick Ratio 1.24
Current Ratio 2.02
Debt/Eq 29.77
LT Debt/Eq —
EPS (ttm) 0.20
EPS next Y 0.51
EPS Growth 21.00%
Revenue Growth 38.60%
EPS Gr Q/Q 3.90%
Rev Gr Q/Q —
Earnings (next) 2026-05-05
Earnings (prior) 2026-02-24
ROA 5.50%
ROE 5.80%
ROIC —
Gross Margin 35.03%
Oper. Margin 16.07%
Profit Margin 7.06%
Shs Outstand 167.77M
Shs Float 166.41M
Insider Own 1.02%
Instit Own 119.99%
Short Float 13.00%
Short Ratio 3.96
Short Interest 16.51M
52W High 11.36
vs 52W High -30.11%
52W Low 3.50
vs 52W Low 127.18%
Beta 1.64
Impl. Vol. 0.78%
Rel Volume 0.56
Avg Volume 5.45M
Volume 3.05M
Target (mean) $9.61
Tgt Median $9.00
Tgt Low $8.00
Tgt High $12.00
# Analysts 18
Recom Buy
Prev Close $7.77
Price $7.94
Change 2.19%
About

Shoals Technologies Group, Inc. provides electrical balance of system (EBOS) solutions and components in the United States and internationally. The company designs, manufactures, and sells various products used by the solar and battery storage industries, including solar big lead assembly (BLA) solutions; homeruns, interconnection, and extension solutions; combiners and re-combiners; load break disconnects and transition solutions; wireless performance monitoring; and battery energy storage solutions (BESS). It also offers original equipment manufacturer (OEM) components; and technical support services during installation and the transition to operations and maintenance. The company sells its products to engineering, procurement, and construction firms that build solar energy projects; utilities; solar developers, independent power producers; solar module manufacturers; and charge point operators. Shoals Technologies Group, Inc. was founded in 1996 and is headquartered in Portland, Tennessee.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$9.61
Mean price target
2. Current target
$7.94
Latest analyst target
3. DCF / Fair value
$-1.06
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$7.94
Low
$8.00
High
$12.00
Mean
$9.61

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-04-16 main JP Morgan Overweight → Overweight $9
2026-03-11 main Jefferies Buy → Buy $8
2026-02-26 main Citigroup Neutral → Neutral $9
2026-02-25 main UBS Buy → Buy $11
2026-02-25 main Barclays Overweight → Overweight $9
2026-02-25 main RBC Capital Outperform → Outperform $9
2026-02-25 main Morgan Stanley Equal-Weight → Equal-Weight $9
2026-02-25 main Roth Capital Buy → Buy $10
2026-02-25 main Wells Fargo Equal-Weight → Equal-Weight $9
2026-02-25 main Guggenheim Buy → Buy $11
2026-02-25 main Needham Buy → Buy $12
2025-12-16 down Morgan Stanley Overweight → Equal-Weight $10
2025-11-11 main Guggenheim Buy → Buy $12
2025-11-06 main Wells Fargo Equal-Weight → Equal-Weight $10
2025-11-05 main UBS Buy → Buy $12
2025-11-05 reit Roth Capital Buy → Buy $15
2025-11-05 main Goldman Sachs Buy → Buy $11
2025-10-22 init Needham — → Buy $12
2025-10-16 main Morgan Stanley Overweight → Overweight $11
2025-10-16 main JP Morgan Overweight → Overweight $11
News
RSS: Latest SHLS news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-02-17 BARDOS DOMINIC Chief Financial Officer — 64,253 $0.00 $0
2026-02-17 TOLNAR JEFFERY President — 56,075 $0.00 $0
2026-02-17 MOSS BRANDON Chief Executive Officer — 205,608 $0.00 $0
2026-02-17 KING BOBBIE LEE JR Officer — 28,038 $0.00 $0
2026-02-17 VAN BIBBER DAVID SEAN Officer — 10,515 $0.00 $0
2025-12-05 BARDOS DOMINIC Chief Financial Officer — 4,170 $7.83 $32,651
2025-12-05 TOLNAR JEFFERY President — 2,450 $7.85 $19,232
2025-06-16 KING BOBBIE LEE JR Officer — 93,634 $0.00 $0
2025-05-01 MILLS JEANNETTE M. Director — 47,746 $0.00 $0
2025-05-01 SUNDBERG LORI S. Director — 47,746 $0.00 $0
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
475.33
+19.07%
399.21
-18.35%
488.94
+49.55%
326.94
Operating Revenue
475.33
+19.07%
399.21
-18.35%
488.94
+49.55%
326.94
Cost Of Revenue
308.82
+20.08%
257.19
-19.79%
320.63
+63.90%
195.63
Reconciled Cost Of Revenue
303.61
+19.93%
253.16
-20.56%
318.66
+64.09%
194.19
Gross Profit
166.51
+17.25%
142.02
-15.62%
168.30
+28.17%
131.31
Operating Expense
110.12
+21.22%
90.84
+1.77%
89.27
+37.38%
64.98
Selling General And Administration
101.52
+23.43%
82.25
+1.90%
80.72
+44.38%
55.91
General And Administrative Expense
101.52
+23.43%
82.25
+1.90%
80.72
+44.38%
55.91
Other Gand A
101.52
+23.43%
82.25
+1.90%
80.72
+44.38%
55.91
Total Expenses
418.95
+20.37%
348.04
-15.09%
409.90
+57.29%
260.61
Operating Income
56.38
+10.19%
51.17
-35.25%
79.03
+19.15%
66.33
Total Operating Income As Reported
56.38
+10.19%
51.17
-35.25%
79.03
+19.15%
66.33
EBITDA
72.33
+12.46%
64.32
-28.19%
89.56
-50.53%
181.05
Normalized EBITDA
70.51
+9.63%
64.32
-28.19%
89.56
-50.53%
181.05
Reconciled Depreciation
13.82
+9.43%
12.63
+19.92%
10.53
+0.19%
10.51
EBIT
58.51
+13.20%
51.69
-34.60%
79.03
-53.66%
170.54
Total Unusual Items
1.82
0.00
0.00
0.00
Total Unusual Items Excluding Goodwill
1.82
0.00
0.00
0.00
Special Income Charges
1.83
0.00
0.00
0.00
Other Special Charges
—
—
—
—
Net Income
33.57
+39.16%
24.13
-39.64%
39.97
-68.68%
127.61
Pretax Income
48.52
+28.14%
37.86
-31.08%
54.94
-63.86%
152.00
Net Non Operating Interest Income Expense
-9.69
+27.20%
-13.31
+44.78%
-24.10
-30.00%
-18.54
Interest Expense Non Operating
9.99
-27.72%
13.83
-42.63%
24.10
+30.00%
18.54
Net Interest Income
-9.69
+27.20%
-13.31
+44.78%
-24.10
-30.00%
-18.54
Interest Expense
9.99
-27.72%
13.83
-42.63%
24.10
+30.00%
18.54
Interest Income Non Operating
0.30
-41.12%
0.52
0.00
0.00
Interest Income
0.30
-41.12%
0.52
0.00
0.00
Other Income Expense
1.82
—
—
104.21
Other Non Operating Income Expenses
—
—
—
104.21
Gain On Sale Of Security
-0.01
—
—
—
Tax Provision
14.94
+8.79%
13.74
+11.91%
12.27
+36.58%
8.99
Tax Rate For Calcs
0.00
-15.10%
0.00
+62.37%
0.00
+277.89%
0.00
Tax Effect Of Unusual Items
0.56
0.00
0.00
0.00
Net Income Including Noncontrolling Interests
33.57
+39.16%
24.13
-43.44%
42.66
-70.17%
143.01
Net Income From Continuing Operation Net Minority Interest
33.57
+39.16%
24.13
-39.64%
39.97
-68.68%
127.61
Net Income From Continuing And Discontinued Operation
33.57
+39.16%
24.13
-39.64%
39.97
-68.68%
127.61
Net Income Continuous Operations
33.57
+39.16%
24.13
-43.44%
42.66
-70.17%
143.01
Minority Interests
0.00
0.00
+100.00%
-2.69
+82.55%
-15.40
Normalized Income
32.31
+33.93%
24.13
-39.64%
39.97
-68.68%
127.61
Net Income Common Stockholders
33.57
+39.16%
24.13
-39.64%
39.97
-68.68%
127.61
Diluted EPS
0.20
+42.86%
0.14
-41.67%
0.24
-71.76%
0.85
Basic EPS
0.20
+42.86%
0.14
-41.67%
0.24
-78.38%
1.11
Basic Average Shares
167.26
-0.78%
168.57
+2.68%
164.16
+43.38%
114.50
Diluted Average Shares
168.38
-0.21%
168.72
+2.57%
164.50
-1.87%
167.63
Diluted NI Availto Com Stockholders
33.57
+39.16%
24.13
-39.64%
39.97
-68.68%
127.61
Depreciation Amortization Depletion Income Statement
8.60
+0.09%
8.59
+0.48%
8.55
-5.76%
9.07
Depreciation And Amortization In Income Statement
8.60
+0.09%
8.59
+0.48%
8.55
-5.76%
9.07
Gain On Sale Of PPE
1.83
0.00
0.00
—
Line Item Trend 2025-12-31 2024-12-31
Total Assets
904.10
+14.00%
793.08
Current Assets
257.89
+36.92%
188.35
Cash Cash Equivalents And Short Term Investments
7.32
-68.87%
23.51
Cash And Cash Equivalents
7.32
-68.87%
23.51
Receivables
150.93
+52.43%
99.02
Accounts Receivable
128.79
+64.74%
78.18
Gross Accounts Receivable
129.29
+64.33%
78.68
Allowance For Doubtful Accounts Receivable
-0.50
+0.00%
-0.50
Other Receivables
22.13
+6.24%
20.83
Inventory
89.88
+60.56%
55.98
Raw Materials
86.77
+69.32%
51.25
Work In Process
2.84
+22.71%
2.32
Finished Goods
0.27
-88.90%
2.42
Other Current Assets
9.76
-0.88%
9.85
Total Non Current Assets
646.22
+6.86%
604.73
Net PPE
99.35
+231.07%
30.01
Gross PPE
116.83
+171.27%
43.07
Accumulated Depreciation
-17.49
-33.88%
-13.06
Properties
0.00
0.00
Land And Improvements
0.61
-27.38%
0.84
Buildings And Improvements
30.23
+120.85%
13.69
Machinery Furniture Equipment
27.26
+19.62%
22.79
Construction In Progress
12.69
+219.83%
3.97
Leases
46.04
+2478.05%
1.79
Goodwill And Other Intangible Assets
103.44
-6.83%
111.02
Goodwill
69.94
+0.00%
69.94
Other Intangible Assets
33.50
-18.46%
41.08
Non Current Deferred Assets
438.03
-3.55%
454.16
Non Current Deferred Taxes Assets
438.03
-3.55%
454.16
Other Non Current Assets
5.40
-43.35%
9.54
Total Liabilities Net Minority Interest
304.13
+28.72%
236.28
Current Liabilities
127.32
+57.36%
80.91
Payables And Accrued Expenses
80.56
+192.22%
27.57
Payables
64.88
+223.86%
20.03
Accounts Payable
64.88
+223.86%
20.03
Current Accrued Expenses
15.68
+108.11%
7.54
Pensionand Other Post Retirement Benefit Plans Current
6.53
+30.51%
5.00
Current Debt And Capital Lease Obligation
—
—
Current Debt
—
—
Other Current Borrowings
—
—
Current Deferred Liabilities
37.03
+97.64%
18.74
Current Deferred Revenue
37.03
+97.64%
18.74
Other Current Liabilities
3.20
-89.18%
29.60
Total Non Current Liabilities Net Minority Interest
176.81
+13.80%
155.37
Long Term Debt And Capital Lease Obligation
175.41
+22.68%
142.99
Long Term Debt
136.75
-3.53%
141.75
Long Term Capital Lease Obligation
38.66
+3030.45%
1.24
Tradeand Other Payables Non Current
—
—
Other Non Current Liabilities
1.39
-88.74%
12.38
Stockholders Equity
599.97
+7.75%
556.80
Common Stock Equity
599.97
+7.75%
556.80
Capital Stock
0.00
+0.00%
0.00
Common Stock
0.00
+0.00%
0.00
Preferred Stock
0.00
0.00
Share Issued
171.36
+0.40%
170.67
Ordinary Shares Number
167.45
+0.41%
166.76
Treasury Shares Number
3.91
+0.00%
3.91
Additional Paid In Capital
493.09
+1.97%
483.55
Retained Earnings
132.15
+34.06%
98.58
Treasury Stock
25.27
-0.23%
25.33
Minority Interest
—
—
Total Equity Gross Minority Interest
599.97
+7.75%
556.80
Total Capitalization
736.72
+5.46%
698.55
Working Capital
130.56
+21.52%
107.44
Invested Capital
736.72
+5.46%
698.55
Total Debt
175.41
+22.68%
142.99
Net Debt
129.43
+9.46%
118.24
Capital Lease Obligations
38.66
+3030.45%
1.24
Net Tangible Assets
496.53
+11.39%
445.78
Tangible Book Value
496.53
+11.39%
445.78
Interest Payable
0.65
+152.12%
0.26
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
17.07
-78.77%
80.39
-12.58%
91.95
+133.06%
39.45
Cash Flow From Continuing Operating Activities
17.07
-78.77%
80.39
-12.58%
91.95
+133.06%
39.45
Net Income From Continuing Operations
33.57
+39.16%
24.13
-43.44%
42.66
-70.17%
143.01
Depreciation Amortization Depletion
13.82
+9.43%
12.63
+19.92%
10.53
+0.19%
10.51
Depreciation
6.20
+23.83%
5.01
+91.69%
2.61
+40.58%
1.86
Amortization Cash Flow
7.60
-0.25%
7.62
-3.76%
7.92
-8.48%
8.65
Depreciation And Amortization
13.82
+9.43%
12.63
+19.92%
10.53
+0.19%
10.51
Amortization Of Intangibles
7.60
-0.25%
7.62
-3.76%
7.92
-8.48%
8.65
Other Non Cash Items
1.67
-45.97%
3.09
+42.86%
2.17
+102.11%
-102.84
Stock Based Compensation
9.90
-30.41%
14.23
-31.79%
20.86
+29.51%
16.11
Provisionand Write Offof Assets
1.73
-90.33%
17.87
-72.46%
64.89
+2190.61%
2.83
Deferred Tax
16.13
+14.94%
14.04
+23.83%
11.33
+34.83%
8.41
Deferred Income Tax
16.13
+14.94%
14.04
+23.83%
11.33
+34.83%
8.41
Operating Gains Losses
—
—
—
—
Change In Working Capital
-59.76
-967.85%
-5.60
+90.75%
-60.49
-56.83%
-38.57
Change In Receivables
-51.91
-207.61%
48.24
+160.10%
-80.26
-258.52%
-22.39
Changes In Account Receivables
-50.61
-274.90%
28.94
+150.91%
-56.84
-195.93%
-19.21
Change In Inventory
-35.11
-500.84%
-5.84
-138.93%
15.01
+140.65%
-36.93
Change In Payables And Accrued Expense
48.11
+957.42%
-5.61
-158.19%
9.64
+1149.18%
-0.92
Change In Accrued Expense
4.79
+142.59%
-11.25
-351.55%
4.47
-55.78%
10.11
Change In Payable
43.32
+668.63%
5.64
+8.99%
5.17
+146.89%
-11.03
Change In Account Payable
43.32
+668.63%
5.64
+8.99%
5.17
+146.89%
-11.03
Change In Other Working Capital
18.29
+624.03%
-3.49
-238.60%
-1.03
-104.81%
21.42
Change In Other Current Assets
1.82
+118.65%
-9.77
-820.81%
1.35
+455.33%
0.24
Change In Other Current Liabilities
-40.97
-40.66%
-29.12
-459.84%
-5.20
0.00
Investing Cash Flow
-27.95
-233.08%
-8.39
+22.62%
-10.85
-196.61%
-3.66
Cash Flow From Continuing Investing Activities
-27.95
-233.08%
-8.39
+22.62%
-10.85
-196.61%
-3.66
Net PPE Purchase And Sale
-27.95
-233.08%
-8.39
+20.66%
-10.58
-235.38%
-3.15
Purchase Of PPE
-33.04
-293.70%
-8.39
+20.66%
-10.58
-235.38%
-3.15
Sale Of PPE
5.09
0.00
0.00
—
Capital Expenditure
-33.04
-293.70%
-8.39
+20.66%
-10.58
-235.38%
-3.15
Net Business Purchase And Sale
—
—
0.00
0.00
Purchase Of Business
—
—
0.00
0.00
Net Other Investing Changes
—
—
-0.27
+46.52%
-0.50
Financing Cash Flow
-5.30
+92.55%
-71.19
-5.99%
-67.17
-83.57%
-36.59
Cash Flow From Continuing Financing Activities
-5.30
+92.55%
-71.19
-5.99%
-67.17
-83.57%
-36.59
Net Issuance Payments Of Debt
-5.00
+88.10%
-42.00
+29.41%
-59.50
-550.98%
-9.14
Issuance Of Debt
60.00
-59.66%
148.75
+230.56%
45.00
-2.17%
46.00
Repayment Of Debt
-65.00
+65.92%
-190.75
-82.54%
-104.50
-89.52%
-55.14
Long Term Debt Issuance
60.00
-59.66%
148.75
+230.56%
45.00
-2.17%
46.00
Long Term Debt Payments
-65.00
+65.92%
-190.75
-82.54%
-104.50
-89.52%
-55.14
Net Long Term Debt Issuance
-5.00
+88.10%
-42.00
+29.41%
-59.50
-550.98%
-9.14
Short Term Debt Issuance
—
—
45.00
-2.17%
46.00
Short Term Debt Payments
—
—
-53.00
+0.26%
-53.14
Net Short Term Debt Issuance
—
—
-8.00
-12.04%
-7.14
Net Common Stock Issuance
0.00
+100.00%
-25.33
0.00
-100.00%
42.94
Common Stock Payments
0.00
+100.00%
-25.33
0.00
0.00
Repurchase Of Capital Stock
0.00
+100.00%
-25.33
0.00
0.00
Net Other Financing Charges
-0.30
+92.15%
-3.86
+49.65%
-7.67
+89.11%
-70.39
Changes In Cash
-16.19
-2113.81%
0.80
-94.23%
13.94
+1862.45%
-0.79
Beginning Cash Position
23.51
+3.54%
22.71
+159.03%
8.77
-8.28%
9.56
End Cash Position
7.32
-68.87%
23.51
+3.54%
22.71
+159.03%
8.77
Free Cash Flow
-15.98
-122.19%
72.00
-11.53%
81.38
+124.17%
36.30
Interest Paid Supplemental Data
9.11
-44.07%
16.29
-29.51%
23.10
+79.94%
12.84
Income Tax Paid Supplemental Data
—
0.11
-91.77%
1.32
+68.45%
0.79
Common Stock Issuance
—
0.00
0.00
-100.00%
42.94
Issuance Of Capital Stock
—
0.00
0.00
-100.00%
42.94
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Trades
Date User Broker Pattern Type Position Size Entry Price Trade P&L Status
Posts
Published Title Author Category