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Makes electrical balance-of-system components—combiner boxes and cabling—for utility-scale solar power plants.
Makes electrical balance-of-system components—combiner boxes and cabling—for utility-scale solar power plants.
Sells its products to the engineering and construction contractors who build solar plants, so a few large contractors place a big share of its orders and sales follow when solar projects are built. Its pre-assembled wiring is chosen at the project planning stage, which makes orders lumpy.
Moat: narrow (IP / patents, installed base). Plug-and-play wiring system reduces solar-farm installation labor, a design advantage over legacy wiring methods.
Headquarters: Portland, Tennessee, US · Founded: 1996 · Employees: 1,480
Size Shoals Technologies (SHLS) is a United States Information Technology company (Semiconductors) with a market value of $1.70B, the 1906th largest of 3,117 United States companies the cockpit tracks. Shares closed at $10.08 on 6 Nov 2026.
Performance Over six months the shares gained 14.0%, against -20.6% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 49.2% over the last twelve months (peer median +21.3%); the operating margin is 11.2% (peer median 4.3%).
Valuation It trades at 18.3× forward earnings against a peer median of 29.8× (5th cheapest of 14).
Capital Return on invested capital runs 6.3 points below its cost of capital (13.2% WACC).
Short interest Short interest is 10.0% of the free float (15 Oct 2026).
Next results Next results expected around 2 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $648M | $475M | $399M | $489M | $327M |
| Revenue growth | — | +19% | -18% | +50% | — |
| Gross profit | $189M | $157M | $132M | $159M | $122M |
| EBITDA | $90.4M | $70.2M | $63.8M | $89.6M | $76.9M |
| Net income | $37.8M | $33.6M | $24.1M | $40.0M | $128M |
| Free cash flow | -$34.5M | -$16.0M | $72.0M | $81.4M | $36.3M |
| Capital expenditure | $24.7M | $33.0M | $8.39M | $10.6M | $3.15M |
| Total debt | $200M | $179M | $144M | $185M | $243M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Shoals Technologies SHLS | $1.70B | +14% | +49% | 11% | 18.3× | n/a |
| Amphenol APH | $184B | +21% | +58% | 29% | 21.6× | 15.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | SHLS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +19.7% | -20.4% | 2nd highest of 21 |
| 6-month return | +14.0% | -20.6% | 2nd highest of 21 |
| Distance from 52-week high | -23.5% | -49.7% | highest of 21 |
| Revenue growth (TTM) | +49.2% | +21.3% | 6th highest of 21 |
| Operating margin | 11.2% | 4.3% | 7th highest of 21 |
| Forward P/E | 18.3× | 29.8× | 5th cheapest of 14 |
| ROIC minus cost of capital | -6.3 pp | -7.5 pp | 9th highest of 20 |
| EV / EBITDA | 20.9× | 7.4× | 4th most expensive of 9 |
| Net debt / EBITDA | 2.1× | -0.9× | 2nd most indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shoals Technologies SHLS | United States | $1.70B | +14% | +49% | 11% | 18.3× | n/a | n/a |
| Risen Energy 300118.SZ | China | $1.71B | -42% | -52% | -39% | n/a | 38.4% | -4.7% |
| Changzhou Fusion New Material 688503.SS | China | $1.71B | -53% | +41% | 2% | 37.6× | n/a | n/a |
| Greatek Electronics 2441.TW | Taiwan | $1.68B | +4% | +24% | 21% | 13.2× | 1.6% | +2.7% |
| Shanghai Anlogic Infotech 688107.SS | China | $1.67B | -26% | +70% | -25% | n/a | n/a | n/a |
| Shenzhen Injoinic Technology 688209.SS | China | $1.64B | +5% | +13% | 11% | n/a | n/a | n/a |
| Aerospace Nanhu Electronic Information Technology 688552.SS | China | $1.64B | -19% | +19% | -6% | 231.3× | 35.8% | +1.0% |
| Shanghai New Vision Microelectronics 688593.SS | China | $1.76B | -22% | +7% | -4% | 643.2× | n/a | n/a |
| Tekscend Photomask 429A.T | Japan | $1.64B | -36% | +10% | 22% | 9.9× | 6.4% | +8.7% |
| Thinkon Semiconductor Jinzhou 688233.SS | China | $1.62B | -11% | +12% | 18% | 59.7× | 44.7% | +18.0% |
| ams-OSRAM AMS.SW | Switzerland | $1.78B | -16% | -3% | 8% | n/a | n/a | n/a |
| Elite Semiconductor Microelectronics Technology 3006.TW | Taiwan | $1.79B | +14% | +273% | 49% | 1.6× | n/a | n/a |
| NSING Technologies 300077.SZ | China | $1.61B | -32% | +47% | 1% | n/a | n/a | n/a |
| Taiwan Surface Mounting Technology 6278.TW | Taiwan | $1.60B | -2% | +5% | 7% | 16.1× | 6.5% | +3.8% |
| Wonik 030530.KS | South Korea | $1.59B | -14% | -14% | 1% | n/a | n/a | n/a |
| BOE HC SemiTek 300323.SZ | China | $1.81B | -38% | +23% | -8% | 53.6× | n/a | n/a |
| Shanghai V-Test Semiconductor Tech 688372.SS | China | $1.82B | -53% | +53% | 18% | 29.2× | n/a | n/a |
| Cohu COHU | United States | $1.82B | -22% | +34% | -2% | 19.3× | 21.5% | -6.6% |
| ISC 095340.KS | South Korea | $1.82B | -50% | +61% | 30% | 29.8× | 10.5% | +12.6% |
| Jiangsu HHCK Advanced Materials 688535.SS | China | $1.58B | -19% | +154% | 7% | 134.5× | n/a | n/a |
| Cosmo Electronics 2466.TW | Taiwan | $1.57B | +449% | -19% | -20% | n/a | n/a | n/a |