Company Analysis

Shoals Technologies Group, Inc. (SHLS)

Nasdaq: SHLS · Semiconductors & Related Devices · Portland, TN · filing with the SEC since 2020
Grade5.1
◀ Past 5.4● Present 5.5▶ Future 4.3

The grade of Shoals Technologies Group, Inc.

Nine metrics read from its own filings, by tense
Headline grade
5.1/10
◀ Past5.435% of the headline
● Present5.538% of the headline
▶ Future4.328% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

All nine metrics read as filed from the record.

◀ Past

What did they actually do?

5.4/1035% of the headline grade · 3 of 3 filed

Surviving crises

as filed
2.9/10

Has it survived what it has been through?

2 warning events since 2020; the latest 2025-03-12.

weight 39% of this tense · 29th percentile among 99 sector filers · read for itself

From the record

Shoals Technologies Group, Inc.'s filings since 2020 show 2 warning events of 2 kinds: an auditor change (8-K item 4.01, the latest 2025-03-12); a late-report notice (Form NT 10-K or NT 10-Q, the latest 2022-08-16) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
7.9/10

What has it actually done, year after year?

+21.9% a year over 7 filed years; profitable in 7 of 7.

weight 39% of this tense · 79th percentile among 93 sector filers · read for its customers

From the record

Shoals Technologies Group, Inc.'s 7 filed years say what it did: revenue went from $144 million in fiscal 2019 to $475 million in fiscal 2025, up 21.9% a year; it rose in 5 of 6 years; the deepest fall was 18% from fiscal 2023 to fiscal 2024; net income was positive in 7 of 7 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span21.9%top 19% of its family
  • the share of years revenue rosetop 19% of its family
  • the share of filed years with a profittop 13% of its family
  • the deepest fall from a revenue peak18.4%top 34% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed
5.4/10

How has it treated the people who own it?

Share count grew 0.1% a year. 13% of cash flow returned. Insiders: 4 sales, 0 purchases.

weight 22% of this tense · 54th percentile among 67 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, Shoals Technologies Group, Inc.'s diluted share count grew about 0.1% a year, and dividends and buybacks returned about 13% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 4 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).

What it rests on

  • the share count over the yearstop 35% of its family
  • cash returned against operating cash flowbottom 43% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

5.5/1038% of the headline grade · 3 of 3 filed

Financial health

as filed
5.8/10

Is it financially healthy right now?

ROE 6%: 6¢ of profit per shareholder dollar. Leverage 34%: owes 34¢ per asset dollar.

weight 45% of this tense · 58th percentile among 95 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Shoals Technologies Group, Inc. earned about 6 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 18 cents per dollar of everything the company owns. Leverage: it owed about 34 cents per dollar of assets, and net share issuance: its share count shrank 0.2% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 48% of its family
  • return on equitytop 43% of its family
  • gross profit against assetsbottom 49% of its family
  • the share count against the year beforetop 25% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
5.9/10

How strong is its position in its industry?

top 41% of 97 in its family; net margin 7.1%.

weight 33% of this tense · 59th percentile among 97 sector filers · read for its customers

From the record

Shoals Technologies Group, Inc.'s standing among 97 graded names in its industry family: revenue of $475 million in fiscal 2025 ranks in the bottom 42% by size; a net margin of 7.1% ranks in the top 37%; revenue growth of 13.3% a year over the last 3 filed years ranks in the top 28% (its annual reports).

What it rests on

  • revenue against the family$475Mbottom 42% of its family
  • net margin7.1%top 37% of its family
  • three-year revenue growth13.3%top 28% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
4.2/10

What are the people in charge doing?

bottom 42% of 67 in its family for leadership; chief executive since 2023.

weight 22% of this tense · 42nd percentile among 67 sector filers · read for its shareholders

From the record

Shoals Technologies Group, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Moss, Brandon (Chief Executive Officer, as filed), filing under that title since 2023-07-17, 3.3 years (bottom 43% of its family); the 14 officers and directors filing in the last fifteen months have been on the record a median of 4 years (bottom 13%); 5 officer or director changes were reported on Form 8-K since 2023-11-13, against the 14 people in charge now (top 30%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge5 in three years among 14 peopletop 30% of its family
  • the median years the people in charge have filed4.0 yearsbottom 13% of its family
  • the chief executive's years on the record3.3 yearsbottom 43% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

4.3/1028% of the headline grade · 3 of 3 filed

Room to expand

as filed
3.5/10

How much room does it have to grow?

bottom 35% of 94 in its family for room to expand.

weight 34% of this tense · 35th percentile among 94 sector filers · read for itself

From the record

Shoals Technologies Group, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $7 million against no long-term debt tagged leaves 0.8% of its assets as net cash, bottom 28% of its family; cash from operations less capital spending is -3.4% of revenue (bottom 35%); a gross margin of 35% (bottom 41%) (its annual report).

What it rests on

  • cash less debt against assets0.8%bottom 28% of its family
  • cash from operations less capital spending against revenue-3.4%bottom 35% of its family
  • gross margin35.0%bottom 41% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
6.4/10

What could actually drive growth from here?

top 36% of 93 in its family for growth drivers.

weight 33% of this tense · 64th percentile among 93 sector filers · read for its customers

From the record

Shoals Technologies Group, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 13.3% a year over the last three filed years against 21.9% over all 7, slowing (bottom 39% of its family); the newest year grew 19.1% (top 42%); capital spending grew 118.8% a year (top 5%) (its annual reports). Shoals Technologies Group, Inc. reported 2 product lines in fiscal 2025: System Solutions at $374 million (79%), Components at $101 million (21%); 2 of 2 grew against the year before (its annual report).

What it rests on

  • three-year growth against the whole span-8.7 points a yearbottom 39% of its family
  • the newest year's revenue growth19.1%top 42% of its family
  • three-year growth of capital spending118.8%top 5% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
3.1/10

Did its newest year beat what its own record pointed to?

bottom 31% of 88 in its family for expectations against reality.

weight 34% of this tense · 31st percentile among 88 sector filers · read for its shareholders

From the record

Shoals Technologies Group, Inc.'s newest year against its own record: revenue of $475 million in fiscal 2025 came in 7.8% above the $441 million its prior three years' pace pointed to (bottom 39% of its family); net income of $34 million against a prior three-year average of $64 million (bottom 32%); a net margin of 7.1% against 17.8% before (bottom 21%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace7.8%bottom 39% of its family
  • net income against the prior three years' average-48%bottom 32% of its family
  • net margin against its prior average-10.7 pointsbottom 21% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton SHLS · research, not advice