(SHLS) Shoals Technologies - Overview
Sector: Technology | Industry: Solar | Exchange: NASDAQ (USA) | Market Cap: 2.047m USD | Total Return: 173% in 12m
Avg Turnover: 53.3M
EPS Trend: -78.9%
Qual. Beats: 0
Rev. Trend: 15.1%
Qual. Beats: 6
Warnings
Extended 1w
Tailwinds
Rs Leader, Idiosyncratic Leader, Confidence
Shoals Technologies Group (SHLS) specializes in Electrical Balance of System (EBOS) solutions for solar energy, battery storage, and electric vehicle charging infrastructure. The company’s primary product line includes Big Lead Assembly (BLA) systems, combiners, and wireless monitoring tools designed to integrate solar panels with power inverters and the electrical grid.
The EBOS segment represents a critical niche within the renewables sector, accounting for the components that carry electric current throughout a project. Shoals utilizes a plug-and-play proprietary design intended to reduce on-site labor costs and eliminate the need for specialized electricians during the installation of large-scale solar arrays.
The company serves a diverse client base consisting of engineering firms (EPCs), utilities, and independent power producers. Investors may find it useful to evaluate the companys long-term valuation trends on ValueRay. Founded in 1996 and headquartered in Tennessee, Shoals operates within the broader Industrials sector, focusing on the transition toward decentralized energy infrastructure.
- Domestic solar utility demand drives Big Lead Assembly revenue growth
- Patent litigation outcomes impact competitive positioning and market share protection
- High interest rates and financing costs delay utility-scale project timelines
- Gross margin expansion depends on manufacturing efficiency and labor-saving product adoption
| Net Income: 33.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.08 > 0.02 and ΔFCF/TA -16.89 > 1.0 |
| NWC/Revenue: 32.54% < 20% (prev 27.64%; Δ 4.89% < -1%) |
| CFO/TA -0.04 > 3% & CFO -39.9m > Net Income 33.6m |
| Net Debt (255.5m) to EBITDA (74.7m): 3.42 < 3 |
| Current Ratio: 1.84 > 1.5 & < 3 |
| Outstanding Shares: last quarter (167.6m) vs 12m ago 0.36% < -2% |
| Gross Margin: 33.50% > 18% (prev 0.34%; Δ 3.32k% > 0.5%) |
| Asset Turnover: 58.87% > 50% (prev 49.31%; Δ 9.56% > 0%) |
| Interest Coverage Ratio: 5.91 > 6 (EBITDA TTM 74.7m / Interest Expense TTM 10.4m) |
| A: 0.17 (Total Current Assets 382.5m - Total Current Liabilities 208.3m) / Total Assets 1.03b |
| B: 0.13 (Retained Earnings 131.9m / Total Assets 1.03b) |
| C: 0.07 (EBIT TTM 61.8m / Avg Total Assets 909.7m) |
| D: 0.31 (Book Value of Equity 131.9m / Total Liabilities 429.2m) |
| Altman-Z'' = 2.30 = BBB |
| DSRI: 1.34 (Receivables 144.3m/78.1m, Revenue 535.5m/388.8m) |
| GMI: 1.03 (GM 33.50% / 34.39%) |
| AQI: 0.73 (AQ_t 0.53 / AQ_t-1 0.72) |
| SGI: 1.38 (Revenue 535.5m / 388.8m) |
| TATA: 0.07 (NI 33.6m - CFO -39.9m) / TA 1.03b) |
| Beneish M = -2.54 (Cap -4..+1) = A |
As of June 01, 2026, the stock is trading at USD 12.45 with a total of 5,764,850 shares traded.
Over the past week, the price has changed by +30.37%,
over one month by +56.80%,
over three months by +108.89% and
over the past year by +173.03%.
Shoals Technologies has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy SHLS.
- StrongBuy: 9
- Buy: 4
- Hold: 7
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 9.9 | -20.6% |
P/E Trailing = 61.0
P/E Forward = 25.974
P/S = 3.9004
P/B = 3.4773
P/EG = 1.0825
Revenue TTM = 535.5m USD
EBIT TTM = 61.8m USD
EBITDA TTM = 74.7m USD
Long Term Debt = 181.8m USD (from longTermDebt, last quarter)
Short Term Debt = unknown (none)
Debt = 257.4m USD (from shortLongTermDebtTotal, last quarter) + Leases 37.8m
Net Debt = 255.5m USD (calculated: Debt 257.4m - CCE 1.88m)
Enterprise Value = 2.30b USD (2.05b + Debt 257.4m - CCE 1.88m)
Interest Coverage Ratio = 5.91 (Ebit TTM 61.8m / Interest Expense TTM 10.4m)
EV/FCF = -29.74x (Enterprise Value 2.30b / FCF TTM -77.4m)
FCF Yield = -3.36% (FCF TTM -77.4m / Enterprise Value 2.30b)
FCF Margin = -14.46% (FCF TTM -77.4m / Revenue TTM 535.5m)
Net Margin = 6.27% (Net Income TTM 33.6m / Revenue TTM 535.5m)
Gross Margin = 33.50% ((Revenue TTM 535.5m - Cost of Revenue TTM 356.1m) / Revenue TTM)
Gross Margin QoQ = 29.18% (prev 31.63%)
Tobins Q-Ratio = 2.23 (Enterprise Value 2.30b / Total Assets 1.03b)
Interest Expense / Debt = 4.06% (Interest Expense 10.4m / Debt 257.4m)
Taxrate = 30.80% (14.9m / 48.5m)
NOPAT = 42.7m (EBIT 61.8m * (1 - 30.80%))
Current Ratio = 1.84 (Total Current Assets 382.5m / Total Current Liabilities 208.3m)
Debt / Equity = 0.43 (Debt 257.4m / totalStockholderEquity, last quarter 601.6m)
Debt / EBITDA = 3.42 (Net Debt 255.5m / EBITDA 74.7m)
Debt / FCF = -3.30 (negative FCF - burning cash) (Net Debt 255.5m / FCF TTM -77.4m)
Total Stockholder Equity = 591.7m (last 4 quarters mean from totalStockholderEquity)
RoA = 3.69% (Net Income 33.6m / Total Assets 1.03b)
RoE = 5.67% (Net Income TTM 33.6m / Total Stockholder Equity 591.7m)
RoCE = 7.99% (EBIT 61.8m / Capital Employed (Equity 591.7m + L.T.Debt 181.8m))
RoIC = 5.20% (NOPAT 42.7m / Invested Capital 822.6m)
WACC = 11.67% (E(2.05b)/V(2.30b) * Re(12.78%) + D(257.4m)/V(2.30b) * Rd(4.06%) * (1-Tc(0.31)))
Discount Rate = 12.78% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -4.71 | Cagr: 0.80%
[DCF] Fair Price = unknown (Cash Flow -77.4m)
EPS Correlation: -78.91 | EPS CAGR: -21.77% | SUE: 0.50 | # QB: 0
Revenue Correlation: 15.10 | Revenue CAGR: 1.64% | SUE: 4.0 | # QB: 6
EPS current Quarter (2026-06-30): EPS=0.10 | Chg30d=+8.72% | Revisions=+41% | Analysts=16
EPS next Quarter (2026-09-30): EPS=0.12 | Chg30d=-2.46% | Revisions=-6% | Analysts=16
EPS current Year (2026-12-31): EPS=0.41 | Chg30d=+1.82% | Revisions=+5% | GrowthEPS=+15.0% | GrowthRev=+31.0%
EPS next Year (2027-12-31): EPS=0.51 | Chg30d=+0.42% | Revisions=+26% | GrowthEPS=+22.6% | GrowthRev=+9.0%
[Analyst] Revisions Ratio: +41%