SHLS - Shoals Technologies Group, Inc.
Price:
--
--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$8.75
DETAILS
HIGH:
$9.50
LOW:
$8.00
MEDIAN:
$8.75
CONSENSUS:
$8.75
DOWNSIDE:
11.71%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||
| Revenue | 475.3 | 399.2 | 488.9 | 326.9 | 213.2 | 175.5 | 144.5 | 103.8 |
| Cost of Revenue | 308.8 | 257.2 | 320.6 | 195.6 | 130.6 | 109.0 | 100.3 | 75.6 |
| Gross Profit | 166.5 | 142.0 | 168.3 | 131.3 | 82.6 | 66.5 | 44.2 | 28.2 |
| Operating Expenses | ||||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | 101.5 | 82.3 | 80.7 | 55.9 | 37.9 | 21.0 | 9.1 | 8.9 |
| Other Expenses | 8.6 | 8.6 | 8.6 | 9.1 | 8.5 | 8.3 | 8.2 | 8.2 |
| Operating Expenses | 110.1 | 90.8 | 89.3 | 65.0 | 46.4 | 29.3 | 17.3 | 17.1 |
| Operating Income | ||||||||
| Operating Income | 56.4 | 51.2 | 79.0 | 66.3 | 36.2 | 37.3 | 26.9 | 11.1 |
| Interest Expense | 10.0 | 13.8 | 24.1 | 18.5 | 14.5 | 3.5 | 1.8 | 2.4 |
| Interest Income | 0.3 | 0.5 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profitability | ||||||||
| EBITDA | 67.1 | 64.3 | 89.6 | 181.0 | 28.6 | 46.7 | 36.1 | 20.1 |
| EBIT | 58.5 | 51.7 | 79.0 | 170.5 | 18.6 | 37.3 | 26.9 | 11.1 |
| Income Before Tax | 48.5 | 37.9 | 54.9 | 152 | 4.0 | 33.8 | 25.1 | 8.6 |
| Income Tax Expense | 14.9 | 13.7 | 12.3 | 9.0 | 0.1 | 0 | 0 | 0 |
| Net Income | 33.6 | 24.1 | 40.0 | 127.6 | 2.3 | 33.8 | 25.1 | 8.6 |
| Per Share Data | ||||||||
| EPS (Basic) | 0.20 | 0.14 | 0.24 | 1.11 | 0.02 | 0.21 | 0.15 | 0.05 |
| EPS (Diluted) | 0.20 | 0.14 | 0.24 | 0.85 | 0.02 | 0.21 | 0.15 | 0.05 |
| Shares Outstanding | 167.3 | 168.6 | 164.2 | 114.5 | 112.0 | 160.3 | 160.3 | 160.3 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||
| Cash & Cash Equivalents | 7.3 | 23.5 | 22.7 | 8.8 | 5.0 | 10.1 | 7.1 | 0.1 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 150.9 | 99.0 | 147.3 | 67.3 | 45.0 | 30.8 | 29.8 | 26.0 |
| Inventory | 89.9 | 56.0 | 52.8 | 72.9 | 38.4 | 15.1 | 8.8 | 9.9 |
| Other Current Assets | 9.8 | 9.8 | 4.4 | 4.6 | 5.0 | 0.2 | 0.8 | 0.9 |
| Total Current Assets | 257.9 | 188.4 | 227.2 | 153.5 | 93.4 | 56.1 | 46.5 | 37.0 |
| Non-Current Assets | ||||||||
| Property, Plant & Equipment | 99.3 | 28.2 | 24.8 | 16.9 | 15.6 | 12.8 | 10.9 | 10.4 |
| Goodwill | 69.9 | 69.9 | 69.9 | 69.9 | 69.4 | 50.2 | 50.2 | 50.2 |
| Intangible Assets | 33.5 | 41.1 | 48.7 | 56.6 | 65.2 | 72.0 | 80.0 | 88.0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 5.4 | 11.3 | 5.2 | 6.3 | 5.8 | 4.2 | 0 | 0 |
| Total Non-Current Assets | 646.2 | 604.7 | 616.8 | 441.4 | 333.0 | 139.2 | 141.1 | 148.5 |
| Total Assets | 904.1 | 793.1 | 844.0 | 594.9 | 426.4 | 195.3 | 187.6 | 185.5 |
| Current Liabilities | ||||||||
| Account Payables | 64.9 | 20.0 | 14.4 | 9.5 | 20.0 | 14.6 | 10.4 | 6.2 |
| Short-Term Debt | 0 | 0 | 2 | 2 | 2 | 3.5 | 12.9 | 3.5 |
| Deferred Revenue | 37.0 | 18.7 | 22.2 | 23.3 | 1.8 | 0 | 0 | 0 |
| Other Current Liabilities | 25.4 | 34.6 | 41.9 | 5.5 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 127.3 | 80.9 | 92.6 | 52.6 | 31.6 | 24.1 | 24.5 | 11.2 |
| Non-Current Liabilities | ||||||||
| Long-Term Debt | 175.4 | 141.8 | 179.4 | 237.1 | 245.1 | 355.3 | 13.2 | 36.0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1.4 | 13.6 | 26.9 | 4.2 | 157.3 | 0 | 0 | 0 |
| Total Non-Current Liabilities | 176.8 | 155.4 | 206.4 | 241.3 | 402.4 | 355.3 | 13.2 | 36.0 |
| Total Liabilities | 304.1 | 236.3 | 299.0 | 293.9 | 433.9 | 379.4 | 37.7 | 47.3 |
| Stockholders' Equity | ||||||||
| Common Stock | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0 | 0 | 138.3 |
| Retained Earnings | 132.2 | 98.6 | 74.5 | 34.5 | (93.1) | 0 | 0 | 0 |
| Accumulated Other Comprehensive Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (1.5) |
| Total Stockholders' Equity | 600.0 | 556.8 | 545.0 | 291.4 | 2.6 | (184.1) | 149.9 | 138.3 |
| Total Liabilities & Equity | 904.1 | 793.1 | 844.0 | 594.9 | 426.4 | 195.3 | 187.6 | 185.5 |
| Debt Metrics | ||||||||
| Total Debt | 175.4 | 141.8 | 181.4 | 239.1 | 247.1 | 358.8 | 26.1 | 39.5 |
| Net Debt | 168.1 | 118.2 | 158.7 | 230.3 | 242.0 | 348.8 | 19.0 | 39.4 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | 33.6 | 24.1 | 42.7 | 143.0 | 3.9 | 33.8 | 25.1 | 8.6 |
| Depreciation & Amortization | 14.4 | 12.6 | 10.5 | 10.5 | 10.1 | 9.4 | 9.2 | 9.0 |
| Stock-Based Compensation | 9.9 | 14.2 | 20.9 | 16.1 | 11.3 | 8.3 | 0 | 0 |
| Change in Working Capital | (59.8) | (5.6) | (60.5) | (38.0) | (34.2) | 2.1 | 1.5 | (14.6) |
| Other Non-Cash Items | 2.8 | 21.0 | 67.1 | (100.6) | 6.3 | 0.5 | 0.3 | (0.0) |
| Operating Cash Flow | 17.1 | 80.4 | 92.0 | 39.5 | (4.1) | 54.1 | 36.2 | 3.0 |
| Investing Activities | ||||||||
| Capital Expenditure | (33.0) | (8.4) | (10.6) | (3.2) | (4.1) | (3.2) | (1.7) | (1.4) |
| Acquisitions | 5.1 | 0 | 0 | 0 | (12.9) | 0 | 0 | 0 |
| Purchases of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Sales/Maturities of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing Activities | 0 | 0 | (0.3) | (0.5) | 0 | 0 | 0 | 0 |
| Investing Cash Flow | (28.0) | (8.4) | (10.8) | (3.7) | (17.0) | (3.2) | (1.7) | (1.4) |
| Financing Activities | ||||||||
| Net Debt Issuance | (5) | (42) | (59.5) | (9.1) | (119.1) | 343.8 | (13.5) | (8.5) |
| Stock Repurchased | (0.4) | (25.3) | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | (376.0) | (14.0) | (10.7) |
| Other Financing Activities | 0.1 | (3.9) | (7.7) | (26.2) | (420.1) | (15.6) | 0 | 0 |
| Financing Cash Flow | (5.3) | (71.2) | (67.2) | (36.6) | 20.6 | (47.9) | (27.5) | (19.2) |
| Cash Position | ||||||||
| Net Change in Cash | (16.2) | 0.8 | 13.9 | (0.8) | (0.5) | 3.0 | 7.0 | (17.6) |
| Cash at Beginning | 23.5 | 22.7 | 8.8 | 9.6 | 10.1 | 7.1 | 0.1 | 17.7 |
| Cash at End | 7.3 | 23.5 | 22.7 | 8.8 | 9.6 | 10.1 | 7.1 | 0.1 |
| Free Cash Flow | (16.0) | 72.0 | 81.4 | 36.3 | (8.2) | 50.8 | 34.5 | 1.6 |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 475.3 | 399.2 | 488.9 | 326.9 | 213.2 | 175.5 | 144.5 | 103.8 |
| Gross Profit | 166.5 | 142.0 | 168.3 | 131.3 | 82.6 | 66.5 | 44.2 | 28.2 |
| Operating Income | 56.4 | 51.2 | 79.0 | 66.3 | 36.2 | 37.3 | 26.9 | 11.1 |
| Net Income | 33.6 | 24.1 | 40.0 | 127.6 | 2.3 | 33.8 | 25.1 | 8.6 |
| EPS (Diluted) | 0.20 | 0.14 | 0.24 | 0.85 | 0.02 | 0.21 | 0.15 | 0.05 |
| Balance Sheet | ||||||||
| Cash & Equivalents | 7.3 | 23.5 | 22.7 | 8.8 | 5.0 | 10.1 | 7.1 | 0.1 |
| Total Assets | 904.1 | 793.1 | 844.0 | 594.9 | 426.4 | 195.3 | 187.6 | 185.5 |
| Total Debt | 175.4 | 141.8 | 181.4 | 239.1 | 247.1 | 358.8 | 26.1 | 39.5 |
| Stockholders' Equity | 600.0 | 556.8 | 545.0 | 291.4 | 2.6 | (184.1) | 149.9 | 138.3 |
| Cash Flow | ||||||||
| Operating Cash Flow | 17.1 | 80.4 | 92.0 | 39.5 | (4.1) | 54.1 | 36.2 | 3.0 |
| Capital Expenditure | (33.0) | (8.4) | (10.6) | (3.2) | (4.1) | (3.2) | (1.7) | (1.4) |
| Free Cash Flow | (16.0) | 72.0 | 81.4 | 36.3 | (8.2) | 50.8 | 34.5 | 1.6 |