Income Statement Shoals Technologies Group, Inc.

Equities

SHLS

US82489W1071

Electrical Components & Equipment

Market Closed - Nasdaq Other stock markets 04:00:00 2026-04-10 pm EDT			5-day change	1st Jan Change
6.980 ^USD	+0.14%		+2.35%	-17.88%

Mar. 31	Shoals Technologies Group, Inc. - Special Call
Feb. 25	UBS Adjusts Price Target on Shoals Technologies Group to $11 From $12, Maintains Buy Rating	MT

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Published financial data: SHOALS TECHNOLOGIES GROUP, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	213M	327M	489M	399M	475M
Total Revenues	213M	327M	489M	399M	475M
Cost of Goods Sold, Total	131M	196M	321M	257M	309M
Gross Profit	82.64M	131M	168M	142M	167M
Selling General & Admin Expenses, Total	35.54M	55.91M	80.72M	74.96M	83.18M
Depreciation & Amortization - (IS)	8.52M	9.07M	8.55M	8.59M	8.6M
Other Operating Expenses	-	-	-	-	-
Other Operating Expenses, Total	44.06M	64.98M	89.27M	83.55M	91.78M
Operating Income	38.58M	66.33M	79.04M	58.46M	74.73M
Interest Expense, Total	-14.55M	-18.54M	-24.1M	-13.83M	-9.99M
Interest And Investment Income	-	-	-	518K	305K
Net Interest Expenses	-14.55M	-18.54M	-24.1M	-13.31M	-9.69M
Currency Exchange Gains (Loss)	-	-	-	-	-13K
EBT, Excl. Unusual Items	24.03M	47.79M	54.94M	45.16M	65.02M
Merger & Related Restructuring Charges	-2.35M	-	-	-	-
Gain (Loss) On Sale Of Assets	-	-	-	-	1.84M
Legal Settlements	-	-	-	-7.29M	-18.34M
Other Unusual Items	-17.65M	104M	-	-	-
EBT, Incl. Unusual Items	4.03M	152M	54.94M	37.86M	48.52M
Income Tax Expense	86K	8.99M	12.27M	13.74M	14.94M
Earnings From Continuing Operations	3.94M	143M	42.66M	24.13M	33.57M
Net Income to Company	3.94M	143M	42.66M	24.13M	33.57M
Minority Interest	-1.6M	-15.4M	-2.69M	-	-
Net Income - (IS)	2.35M	128M	39.97M	24.13M	33.57M
Net Income to Common Incl Extra Items	2.35M	128M	39.97M	24.13M	33.57M
Net Income to Common Excl. Extra Items	2.35M	128M	39.97M	24.13M	33.57M
Per Share Items
Net EPS - Basic	0.02	1.11	0.24	0.14	0.2
Basic EPS - Continuing Operations	0.02	1.11	0.24	0.14	0.2
Basic Weighted Average Shares Outstanding	99.27M	114M	164M	169M	167M
Net EPS - Diluted	0.02	0.85	0.24	0.14	0.2
Diluted EPS - Continuing Operations	0.02	0.85	0.24	0.14	0.2
Diluted Weighted Average Shares Outstanding	99.27M	168M	165M	169M	168M
Normalized Basic EPS	0.14	0.13	0.19	0.17	0.24
Normalized Diluted EPS	0.14	0.09	0.19	0.17	0.24
Payout Ratio	-	-	-	-	-
Supplemental Items
EBITDA	48.63M	76.84M	89.56M	71.09M	88.54M
EBITA	46.98M	74.98M	86.95M	66.08M	82.34M
EBIT	38.58M	66.33M	79.04M	58.46M	74.73M
EBITDAR	49.03M	78.28M	90.98M	72.45M	91.77M
Effective Tax Rate - (Ratio)	2.13	5.91	22.34	36.28	30.8
Current Domestic Taxes	631K	554K	915K	-299K	-1.19M
Total Current Taxes	631K	554K	915K	-299K	-1.19M
Deferred Domestic Taxes	-1.48M	8.41M	11.33M	14.04M	16.13M
Total Deferred Taxes	-1.48M	8.41M	11.33M	14.04M	16.13M
Normalized Net Income	13.42M	14.47M	31.65M	28.22M	40.64M
Interest on Long-Term Debt	-	-	-	-	-
Supplemental Operating Expense Items
General and Administrative Expenses	35.14M	54.46M	79.3M	74.96M	83.18M
Net Rental Expense, Total	400K	1.44M	1.42M	1.36M	3.23M
Imputed Operating Lease Interest Expense	154K	874K	1.28M	914K	1.6M
Imputed Operating Lease Depreciation	246K	571K	141K	443K	1.63M
Stock-Based Comp., G&A Exp. (Total)	-	-	-	-	9.9M
Stock-Based Comp., Other (Total)	11.29M	16.11M	20.86M	14.23M	-
Total Stock-Based Compensation	11.29M	16.11M	20.86M	14.23M	9.9M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	5.01M	8.77M	22.71M	23.51M	7.32M
Total Cash And Short Term Investments	5.01M	8.77M	22.71M	23.51M	7.32M
Accounts Receivable, Total	45.03M	67.29M	147M	99.02M	151M
Total Receivables	45.03M	67.29M	147M	99.02M	151M
Inventory	38.37M	72.85M	52.8M	55.98M	89.88M
Other Current Assets, Total	5.04M	4.63M	4.42M	9.85M	9.76M
Total Current Assets	93.45M	154M	227M	188M	258M
Gross Property Plant And Equipment	21.17M	28.21M	37.26M	43.07M	117M
Accumulated Depreciation	-5.6M	-7.28M	-9.56M	-13.06M	-17.49M
Net Property Plant And Equipment	15.57M	20.93M	27.71M	30.01M	99.35M
Goodwill	69.44M	69.94M	69.94M	69.94M	69.94M
Other Intangibles, Total	65.24M	56.58M	48.67M	41.08M	33.5M
Accounts Receivable Long-Term	-	-	-	4.25M	-
Deferred Tax Assets Long-Term	177M	292M	468M	454M	438M
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	5.76M	2.26M	2.3M	5.28M	5.4M
Total Assets	426M	595M	844M	793M	904M
Liabilities
Accounts Payable, Total	19.98M	9.48M	14.4M	20.03M	64.88M
Accrued Expenses, Total	9.57M	16.72M	21.77M	11.66M	19M
Current Portion of Long-Term Debt	2M	2M	2M	-	-
Current Portion of Leases	-	1.16M	1.14M	881K	3.22M
Unearned Revenue Current, Total	-	23.26M	22.23M	18.74M	37.03M
Other Current Liabilities	-	-	31.1M	29.6M	3.2M
Total Current Liabilities	31.55M	52.62M	92.63M	80.91M	127M
Long-Term Debt	245M	237M	179M	142M	137M
Long-Term Leases	-	3.26M	2.12M	1.24M	38.66M
Other Non Current Liabilities	157M	965K	24.81M	12.38M	1.39M
Total Liabilities	434M	294M	299M	236M	304M
Common Stock, Total	2K	2K	2K	2K	2K
Additional Paid In Capital	95.68M	257M	471M	484M	493M
Retained Earnings	-93.13M	34.48M	74.45M	98.58M	132M
Treasury Stock	-	-	-	-25.33M	-25.27M
Total Common Equity	2.55M	291M	545M	557M	600M
Minority Interest	-10.05M	9.62M	-	-	-
Total Equity	-7.5M	301M	545M	557M	600M
Total Liabilities And Equity	426M	595M	844M	793M	904M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	112M	138M	170M	167M	167M
ECS Total Common Shares Outstanding	112M	138M	170M	167M	167M
Book Value / Share	0.02	2.11	3.2	3.34	3.58
Tangible Book Value	-132M	165M	426M	446M	497M
Tangible Book Value Per Share	-1.18	1.2	2.51	2.67	2.97
Total Debt	247M	243M	185M	144M	179M
Net Debt	242M	235M	162M	120M	171M
Debt Equivalent Oper. Leases	3.2M	11.56M	11.34M	10.86M	25.82M
Minority Interest, Total (Incl. Fin. Div)	-10.05M	9.62M	-	-	-
Account Code - Inventory Valuation	6	5	5	5	5
Inventories - Raw Materials, Total	39.26M	75.78M	57.61M	55.7M	90.69M
Inventories - Work In Process, Total	-	-	1.11M	2.32M	2.84M
Inventories - Finished Goods, Total	-	-	654K	2.42M	268K
Land - (BS)	840K	840K	840K	840K	610K
Buildings, Total	7.8M	9.03M	13.13M	13.95M	30.23M
Machinery, Total	12.53M	14.28M	20.42M	26.5M	27.26M
Full Time Employees	697	835	1.31K	1.29K	1.48K
Accumulated Allowance for Doubtful Accounts (Supple)	516K	486K	759K	496K	496K
Order Backlog	299M	429M	631M	635M	748M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	2.35M	128M	39.97M	24.13M	33.57M
Depreciation & Amortization - CF	1.65M	1.86M	2.61M	5.01M	6.21M
Amortization of Goodwill and Intangible Assets - (CF)	8.4M	8.65M	7.92M	7.62M	7.61M
Depreciation & Amortization, Total	10.05M	10.51M	10.53M	12.63M	13.82M
Amortization of Deferred Charges, Total - (CF)	5.97M	1.36M	2.16M	3.09M	622K
(Gain) Loss From Sale Of Asset	52K	-	-	-	-
Stock-Based Compensation (CF)	11.29M	16.11M	20.86M	14.23M	9.9M
Provision and Write-off of Bad Debts	-	200K	296K	-	-
Other Operating Activities, Total	365K	-78.33M	78.62M	31.91M	18.91M
Change In Accounts Receivable	-8.92M	-22.39M	-80.26M	48.24M	-51.91M
Change In Inventories	-17.19M	-36.93M	15.01M	-5.84M	-35.11M
Change In Accounts Payable	-3.88M	-11.03M	5.17M	5.64M	43.32M
Change in Unearned Revenues	-	21.42M	-1.03M	-3.49M	18.29M
Change in Other Net Operating Assets	-4.17M	10.91M	624K	-50.14M	-34.35M
Cash from Operations	-4.08M	39.46M	91.96M	80.39M	17.07M
Capital Expenditure	-4.13M	-3.15M	-10.58M	-8.39M	-33.04M
Sale of Property, Plant, and Equipment	-	-	-	-	5.09M
Cash Acquisitions	-12.91M	-	-	-	-
Other Investing Activities, Total	-	-503K	-269K	-	-
Cash from Investing	-17.04M	-3.66M	-10.85M	-8.39M	-27.96M
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	49.14M	46M	45M	149M	60M
Total Debt Issued	49.14M	46M	45M	149M	60M
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-168M	-55.14M	-104M	-191M	-65M
Total Debt Repaid	-168M	-55.14M	-104M	-191M	-65M
Issuance of Common Stock	560M	42.94M	-	-	-
Repurchase of Common Stock	-137K	-1.3M	-3.88M	-26.55M	-362K
Common Dividends Paid	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-	-	-	-	-
Special Dividend Paid	-	-	-	-	-
Other Financing Activities, Total	-420M	-69.1M	-3.79M	-2.64M	59K
Cash from Financing	20.6M	-36.59M	-67.17M	-71.19M	-5.3M
Net Change in Cash	-516K	-791K	13.94M	804K	-16.19M
Supplemental Items
Cash Interest Paid	10.81M	12.84M	23.1M	16.29M	9.11M
Cash Income Tax Paid (Refund)	1.19M	786K	1.32M	109K	-183K
Levered Free Cash Flow	4.79M	18.27M	37.64M	79.63M	-9.89M
Unlevered Free Cash Flow	7.91M	28.49M	50.53M	85.18M	-4.27M
Change In Net Working Capital	33.42M	36.43M	19.68M	-30.18M	41.65M
Net Debt Issued / Repaid	-119M	-9.14M	-59.5M	-42M	-5M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	7.76	8.12	6.87	4.46	5.5
Return on Total Capital	11.64	10.58	7.75	5.11	6.31
Return On Equity %	-4.12	97.46	10.09	4.38	5.8
Return on Common Equity	-2.59	86.83	9.56	4.38	5.8
Margin Analysis
Gross Profit Margin %	38.76	40.16	34.42	35.57	35.03
SG&A Margin	16.67	17.1	16.51	18.78	17.5
EBITDA Margin %	22.81	23.5	18.32	17.81	18.63
EBITA Margin %	22.03	22.93	17.78	16.55	17.32
EBIT Margin %	18.1	20.29	16.16	14.64	15.72
Income From Continuing Operations Margin %	1.85	43.74	8.73	6.04	7.06
Net Income Margin %	1.1	39.03	8.18	6.04	7.06
Net Avail. For Common Margin %	1.1	39.03	8.18	6.04	7.06
Normalized Net Income Margin	6.3	4.43	6.47	7.07	8.55
Levered Free Cash Flow Margin	2.25	5.59	7.7	19.95	-2.08
Unlevered Free Cash Flow Margin	3.71	8.72	10.34	21.34	-0.9
Asset Turnover
Asset Turnover	0.69	0.64	0.68	0.49	0.56
Fixed Assets Turnover	15.05	17.91	20.11	13.83	7.35
Receivables Turnover (Average Receivables)	5.62	5.82	4.56	3.24	3.8
Inventory Turnover (Average Inventory)	4.88	3.52	5.1	4.73	4.23
Short Term Liquidity
Current Ratio	2.96	2.92	2.45	2.33	2.03
Quick Ratio	1.59	1.45	1.83	1.51	1.24
Operating Cash Flow to Current Liabilities	-0.13	0.75	0.99	0.99	0.13
Days Sales Outstanding (Average Receivables)	64.91	62.7	80.08	112.89	95.96
Days Outstanding Inventory (Average Inventory)	74.76	103.76	71.52	77.4	86.19
Average Days Payable Outstanding	41.08	23.37	14.5	24.2	45.21
Cash Conversion Cycle (Average Days)	98.6	143.09	137.1	166.09	136.94
Long Term Solvency
Total Debt/Equity	-3.29K	80.89	33.89	25.84	29.77
Total Debt / Total Capital	103.13	44.72	25.31	20.53	22.94
LT Debt/Equity	-3.27K	79.84	33.31	25.68	29.24
Long-Term Debt / Total Capital	102.3	44.14	24.88	20.41	22.53
Total Liabilities / Total Assets	101.76	49.4	35.43	29.79	33.64
EBIT / Interest Expense	2.65	3.58	3.28	4.23	7.48
EBITDA / Interest Expense	3.34	4.22	3.78	5.24	9.18
(EBITDA - Capex) / Interest Expense	3.06	4.05	3.34	4.63	5.88
Total Debt / EBITDA	5.08	3.11	2.03	1.99	1.95
Net Debt / EBITDA	4.98	3	1.78	1.66	1.87
Total Debt / (EBITDA - Capex)	5.55	3.24	2.3	2.25	3.04
Net Debt / (EBITDA - Capex)	5.44	3.12	2.01	1.88	2.92
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	21.48	53.34	49.55	-18.35	19.07
Gross Profit, 1 Yr. Growth %	19.52	58.89	28.17	-15.62	17.25
EBITDA, 1 Yr. Growth %	-1.91	57.99	16.56	-21.73	24.55
EBITA, 1 Yr. Growth %	-2.48	59.76	15.97	-25.09	24.6
EBIT, 1 Yr. Growth %	-3.97	71.92	19.15	-27.19	27.82
Earnings From Cont. Operations, 1 Yr. Growth %	-88.32	3.53K	-70.17	-43.44	39.16
Net Income, 1 Yr. Growth %	-93.05	5.33K	-68.68	-39.64	39.16
Normalized Net Income, 1 Yr. Growth %	-41.42	7.78	118.74	-12.99	44
Diluted EPS Before Extra, 1 Yr. Growth %	-88.77	-26K	-71.87	-41.67	42.86
Accounts Receivable, 1 Yr. Growth %	46.22	49.42	118.84	-32.76	52.43
Inventory, 1 Yr. Growth %	153.74	89.88	-27.52	6.01	60.56
Net Property, Plant and Equip., 1 Yr. Growth %	22.02	34.39	32.38	8.3	231.06
Total Assets, 1 Yr. Growth %	118.33	39.51	41.87	-6.03	14
Tangible Book Value, 1 Yr. Growth %	-56.86	-224.77	158.65	4.55	11.39
Common Equity, 1 Yr. Growth %	-101.39	11.31K	87.04	2.17	7.75
Cash From Operations, 1 Yr. Growth %	-107.55	-1.07K	133.06	-12.58	-78.77
Capital Expenditures, 1 Yr. Growth %	27.5	-23.56	235.38	-20.66	293.7
Levered Free Cash Flow, 1 Yr. Growth %	-88.03	281.7	105.98	107.24	-112.42
Unlevered Free Cash Flow, 1 Yr. Growth %	-81.09	260.17	77.36	65.97	-105.01
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	21.47	36.48	51.43	10.5	-1.4
Gross Profit, 2 Yr. CAGR %	36.72	40.47	42.7	4	-0.54
EBITDA, 2 Yr. CAGR %	16.08	28.3	35.71	-3.81	-1.26
EBITA, 2 Yr. CAGR %	15.97	28.71	36.11	-6.12	-3.39
EBIT, 2 Yr. CAGR %	19.69	33.4	43.13	-6.12	-3.53
Earnings From Cont. Operations, 2 Yr. CAGR %	-60.39	105.8	228.89	-58.93	-11.29
Net Income, 2 Yr. CAGR %	-69.44	94.4	312.61	-56.52	-8.35
Normalized Net Income, 2 Yr. CAGR %	-7.57	-17.2	53.54	39.67	11.94
Diluted EPS Before Extra, 2 Yr. CAGR %	-61.17	101.24	753.58	-59.49	-8.71
Accounts Receivable, 2 Yr. CAGR %	22.93	47.81	80.83	21.31	1.24
Inventory, 2 Yr. CAGR %	108.4	119.5	17.31	-12.34	30.46
Net Property, Plant and Equip., 2 Yr. CAGR %	19.28	28.06	33.38	19.74	89.36
Total Assets, 2 Yr. CAGR %	50.76	74.53	40.69	15.46	3.5
Tangible Book Value, 2 Yr. CAGR %	158.6	-26.64	79.65	64.44	7.91
Common Equity, 2 Yr. CAGR %	-86.95	25.8	1.36K	38.24	4.92
Cash From Operations, 2 Yr. CAGR %	-66.41	-14.59	374.57	42.74	-56.92
Capital Expenditures, 2 Yr. CAGR %	54.93	-1.28	60.12	63.13	76.74
Levered Free Cash Flow, 2 Yr. CAGR %	-55.86	-30.82	180.4	108.76	-49.26
Unlevered Free Cash Flow, 2 Yr. CAGR %	-44.46	-15.63	152.74	72.9	-71.16
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	27.14	31.28	40.71	23.25	13.29
Gross Profit, 3 Yr. CAGR %	43.16	43.74	36.25	19.78	8.24
EBITDA, 3 Yr. CAGR %	34.3	28.64	24.26	13.49	4.84
EBITA, 3 Yr. CAGR %	35.06	29	24.31	12.08	3.17
EBIT, 3 Yr. CAGR %	51.54	35.05	28.47	14.86	4.05
Earnings From Cont. Operations, 3 Yr. CAGR %	-23.02	78.51	8.11	82.89	-38.31
Net Income, 3 Yr. CAGR %	-35.24	71.85	5.79	117.4	-35.92
Normalized Net Income, 3 Yr. CAGR %	35.43	-2.72	14.46	28.11	41.1
Diluted EPS Before Extra, 3 Yr. CAGR %	-24.03	75.86	4.44	248.98	-38.34
Accounts Receivable, 3 Yr. CAGR %	20.08	31.2	68.47	30.03	30.9
Inventory, 3 Yr. CAGR %	56.86	102.04	51.72	13.42	7.25
Net Property, Plant and Equip., 3 Yr. CAGR %	14.39	24.12	29.48	24.44	68.06
Total Assets, 3 Yr. CAGR %	31.97	46.91	62.88	22.98	14.97
Tangible Book Value, 3 Yr. CAGR %	862.87	102.82	11.66	49.99	44.42
Common Equity, 3 Yr. CAGR %	-73.57	24.8	43.58	501.93	27.22
Cash From Operations, 3 Yr. CAGR %	10.81	2.93	19.36	170.02	-24.37
Capital Expenditures, 3 Yr. CAGR %	43.2	22.42	48.41	26.71	118.81
Levered Free Cash Flow, 3 Yr. CAGR %	-	-9.39	-0.48	155.28	-18.49
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	3.58	8.08	120.82	-46.89
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	36.35	22.54	22.05
Gross Profit, 5 Yr. CAGR %	-	-	42.98	26.29	20.13
EBITDA, 5 Yr. CAGR %	-	-	34.86	14.52	13.66
EBITA, 5 Yr. CAGR %	-	-	35.45	13.6	12.71
EBIT, 5 Yr. CAGR %	-	-	48.12	16.77	14.92
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	37.6	-0.82	-0.11
Net Income, 5 Yr. CAGR %	-	-	35.83	-0.82	-0.11
Normalized Net Income, 5 Yr. CAGR %	-	-	42.4	12.42	14
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	34.79	-2.25	-1.03
Accounts Receivable, 5 Yr. CAGR %	-	-	41.45	27.15	37.42
Inventory, 5 Yr. CAGR %	-	-	39.65	44.67	42.83
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	21.64	22.35	50.74
Total Assets, 5 Yr. CAGR %	-	-	35.39	33.42	35.86
Tangible Book Value, 5 Yr. CAGR %	-	-	391.94	86.5	10.14
Common Equity, 5 Yr. CAGR %	-	-	31.56	30.01	26.65
Cash From Operations, 5 Yr. CAGR %	-	-	98.27	17.31	-20.6
Capital Expenditures, 5 Yr. CAGR %	-	-	49.74	37.32	59.15
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	-	26.52	-23.67
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-	27.14	-36.08