Shoals Technologies Group, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $475.3M | $399.2M | $488.9M | $326.9M | $213.2M |
| Cost of revenue | $308.8M | $257.2M | $320.6M | $195.6M | $130.6M |
| Gross profit | $166.5M | $142.0M | $168.3M | $131.3M | $82.6M |
| Operating expenses | $110.1M | $90.8M | $89.3M | $65.0M | $46.4M |
| Operating income | $56.4M | $51.2M | $79.0M | $66.3M | $36.2M |
| Interest expense | $10.0M | $13.8M | $24.1M | $18.5M | $14.5M |
| Pretax income | $48.5M | $37.9M | $54.9M | $152.0M | $4.0M |
| Income tax expense | $14.9M | $13.7M | $12.3M | $9.0M | $86,000 |
| Net income | $33.6M | $24.1M | $40.0M | $127.6M | $2.3M |
| Balance Sheet | |||||
| Cash and equivalents | $7.3M | $23.5M | $22.7M | $8.8M | $5.0M |
| Current assets | $257.9M | $188.4M | $227.2M | $153.5M | $93.4M |
| Total assets | $904.1M | $793.1M | $844.0M | $594.9M | $426.4M |
| Current liabilities | $127.3M | $80.9M | $92.6M | $52.6M | $31.6M |
| Total liabilities | $304.1M | $236.3M | $299.0M | $293.9M | $433.9M |
| Total debt | $136.8M | $141.8M | $183.8M | $243.2M | $252.4M |
| Stockholders' equity | $600.0M | $556.8M | $545.0M | $291.4M | $2.6M |
| Cash Flow Statement | |||||
| Cash from operations | $17.1M | $80.4M | $92.0M | $39.5M | -$4.1M |
| Depreciation and amortization | $13.8M | $12.6M | $10.5M | $10.5M | $10.1M |
| Stock-based compensation | $9.9M | $14.2M | $20.9M | $16.1M | $11.3M |
| Capital expenditure | $33.0M | $8.4M | $10.6M | $3.2M | $4.1M |
| Free cash flow | -$16.0M | $72.0M | $81.4M | $36.3M | -$8.2M |
| Share repurchases | $0 | $25.3M | $0 | $0 | $281.1M |
| Impairments | $0 | $0 | $0 | $0 | $0 |
Shares outstanding 167.8M · Free float 95.6%
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.