Shoals Technologies Group (SHLS) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Shoals Technologies Group

NasdaqGM•Technology•Solar

$7.13+0.10(0.01%)Market closed

Market Cap

$1.28B

P/E

40.1x

P/S

2.2x

P/B

2.1x

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.

How this company scores

GoodMetricSide Score: 60/100

Strongest: Growth (24/25); weakest: Cash & Earnings Quality (4/25).

Profitability16/25

Growth24/25

Balance Sheet & Red Flags16/25

Cash & Earnings Quality4/25

Strengths

Growing revenueRising earningsLow leverageConsistent growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 40.1x5y range 22.8x – 1138.6x

Currently near its 19-quarter median.

P/S · 2.2x5y range 1.4x – 12.5x

Currently below its 19-quarter median.

P/B · 2.1x5y range 1.0x – 255.2x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Earnings Quality

Red Flag

Free cash flow has been negative in 4 of the last 8 quarters — earnings are not translating to cash.

Leverage Risk

Watch

Debt-to-equity has risen 39.2% recently — increasing financial risk even if the current ratio is manageable.

Price & Volume

Market Cap $1.28B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $588.06M
Q. Revenue: $163.37M
TTM EBITDA: $71.45M
TTM Op. Income: $62.52M
Q. Op. Income: $18.72M
TTM Net Income: $31.84M
Q. Net Income: $12.14M
EPS: $0.07
Shares Out.: $168.06M

$588.06M in TTM revenue grew 46.9% YoY, reaching $163.37M last quarter. TTM EBITDA of $71.45M and TTM operating income of $62.52M show growth is flowing through to the bottom line. TTM net income of $31.84M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 5 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 30.3%
EBITDA Margin: 12.9%
Op. Margin: 11.5%
Net Margin: 7.4%

Op. margin of 11.5% is down 3.0% YoY — costs are rising relative to revenue. Net margin at 7.4% and gross margin of 30.3% show how much of each revenue dollar survives to profit. Over the past year, operating margin is down 21% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 40.1x
P/S Ratio: 2.2x
P/B Ratio: 2.1x

At 40.1x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 2.2x and P/B of 2.1x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 19% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $1.02B
Cash: $15.72M
Long-Term Debt: $196.75M
Book Value: $617.22M
D/E Ratio: 0.3
Debt/EBITDA: 9.3

With $1.02B in assets and $196.75M in long-term debt, D/E is 0.3and book value is $617.22M — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has risen for 3 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $6.81M
TTM Free Cash Flow: $-51.59M
FCF Margin: -8.8%
FCF / Net Income: -1.6

TTM FCF of $-51.59M on $6.81M in operating cash flow. The FCF / Net Income ratio of -1.6x means the business consumes cash — it is not yet self-funding. Over the past year, free cash flow is down 527% — an improving trend.