Shoals Technologies Group (SHLS) Financials

$3.33 +0.04 (+1.22%)

As of 04:00 PM Eastern

Annual Income Statements for Shoals Technologies Group

This table shows Shoals Technologies Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	128	40	24
Consolidated Net Income / (Loss)	143	43	24
Net Income / (Loss) Continuing Operations	143	43	24
Total Pre-Tax Income	152	55	38
Total Operating Income	66	79	51
Total Gross Profit	131	168	142
Total Revenue	327	489	399
Operating Revenue	327	489	399
Total Cost of Revenue	196	321	257
Operating Cost of Revenue	196	321	257
Total Operating Expenses	65	89	91
Selling, General & Admin Expense	56	81	82
Depreciation Expense	9.07	8.55	8.59
Other Special Charges / (Income)	-	0.00	0.00
Total Other Income / (Expense), net	86	-24	-13
Interest Expense	19	24	14
Interest & Investment Income	0.00	0.00	0.52
Other Income / (Expense), net	104	0.00	0.00
Income Tax Expense	8.99	12	14
Net Income / (Loss) Attributable to Noncontrolling Interest	15	2.69	0.00
Basic Earnings per Share	$1.11	$0.48	$0.28
Weighted Average Basic Shares Outstanding	114.50M	328.33M	337.14M
Diluted Earnings per Share	$0.85	$0.48	$0.28
Weighted Average Diluted Shares Outstanding	167.63M	329.01M	337.45M
Weighted Average Basic & Diluted Shares Outstanding	169.54M	170.33M	166.99M

This table shows Shoals Technologies Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	7.96	113	14	19	-9.83	17	4.77	12	-0.27	7.82
Consolidated Net Income / (Loss)	13	118	17	19	-9.83	17	4.77	12	-0.27	7.82
Net Income / (Loss) Continuing Operations	13	118	17	19	-9.83	17	4.77	12	-0.27	7.82
Total Pre-Tax Income	15	122	20	25	-16	26	7.22	16	1.44	14
Total Operating Income	20	23	26	32	-11	32	12	19	4.52	16
Total Gross Profit	36	40	48	51	14	55	36	40	25	40
Total Revenue	91	95	105	119	134	130	91	99	102	107
Operating Revenue	91	95	105	119	134	130	91	99	102	107
Total Cost of Revenue	55	54	57	69	120	75	54	59	77	67
Operating Cost of Revenue	55	54	57	69	120	75	54	59	77	67
Total Operating Expenses	16	17	22	19	25	24	25	21	21	24
Selling, General & Admin Expense	14	15	20	17	23	21	23	19	19	22
Depreciation Expense	2.23	2.13	2.17	2.16	2.17	2.06	2.10	2.20	2.11	2.18
Total Other Income / (Expense), net	-4.75	98	-6.00	-6.51	-5.90	-5.70	-4.36	-3.06	-3.09	-2.80
Interest Expense	4.75	5.78	6.00	6.51	5.90	5.70	4.36	3.06	3.09	3.31
Income Tax Expense	2.45	3.50	3.12	6.21	-6.64	9.59	2.45	3.72	1.70	5.87
Basic Earnings per Share	$0.14	$0.91	$0.10	$0.11	($0.06)	$0.33	$0.03	$0.07	$0.00	$0.18
Weighted Average Basic Shares Outstanding	225.95M	114.50M	146.41M	169.89M	169.97M	328.33M	170.28M	169.99M	167.32M	337.14M
Diluted Earnings per Share	$0.14	$0.65	$0.10	$0.11	($0.06)	$0.33	$0.03	$0.07	$0.00	$0.18
Weighted Average Diluted Shares Outstanding	227.17M	167.63M	147.11M	170.24M	169.97M	329.01M	170.51M	170.10M	167.38M	337.45M
Weighted Average Basic & Diluted Shares Outstanding	167.32M	169.54M	169.82M	169.94M	170.06M	170.33M	170.42M	166.65M	166.70M	166.99M

This table details how cash moves in and out of Shoals Technologies Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Change in Cash & Equivalents	-0.79	14	0.80
Net Cash From Operating Activities	39	92	80
Net Cash From Continuing Operating Activities	39	92	80
Net Income / (Loss) Continuing Operations	143	43	24
Consolidated Net Income / (Loss)	143	43	24
Depreciation Expense	11	11	13
Amortization Expense	1.37	2.17	3.09
Non-Cash Adjustments To Reconcile Net Income	-95	57	22
Changes in Operating Assets and Liabilities, net	-20	-21	18
Net Cash From Investing Activities	-3.66	-11	-8.39
Net Cash From Continuing Investing Activities	-3.66	-11	-8.39
Purchase of Property, Plant & Equipment	-3.15	-11	-8.39
Other Investing Activities, net	-0.50	-0.27	0.00
Net Cash From Financing Activities	-37	-67	-71
Net Cash From Continuing Financing Activities	-37	-67	-71
Repayment of Debt	-55	-105	-193
Repurchase of Common Equity	-1.46	-1.16	-25
Payment of Dividends	-7.76	-2.63	0.00
Issuance of Debt	46	45	149
Issuance of Common Equity	43	0.00	0.00
Other Financing Activities, net	-61	-3.88	-1.22
Cash Interest Paid	13	23	16
Cash Income Taxes Paid	0.79	1.32	0.11

This table details how cash moves in and out of Shoals Technologies Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	7.81	-23	-2.31	-0.60	3.36	13	-7.47	-12	7.92	12
Net Cash From Operating Activities	12	34	9.91	28	28	26	13	38	16	14
Net Cash From Continuing Operating Activities	12	34	9.91	28	28	26	13	38	16	14
Net Income / (Loss) Continuing Operations	13	118	17	19	-9.83	17	4.77	12	-0.27	7.82
Consolidated Net Income / (Loss)	13	118	17	19	-9.83	17	4.77	12	-0.27	7.82
Depreciation Expense	2.60	2.51	2.51	2.59	2.65	2.79	3.00	3.18	3.15	3.29
Amortization Expense	0.34	0.34	0.35	0.34	0.34	1.13	2.63	0.16	0.16	0.16
Non-Cash Adjustments To Reconcile Net Income	9.46	-115	7.05	12	46	-8.13	19	6.48	13	-16
Changes in Operating Assets and Liabilities, net	-13	28	-17	-6.41	-11	14	-16	16	-0.30	19
Net Cash From Investing Activities	-0.75	-0.76	-2.00	-2.37	-3.53	-2.94	-2.48	-2.00	-2.38	-1.53
Net Cash From Continuing Investing Activities	-0.75	-0.76	-2.00	-2.37	-3.53	-2.94	-2.48	-2.00	-2.38	-1.53
Purchase of Property, Plant & Equipment	-0.24	-0.76	-2.00	-2.37	-3.27	-2.94	-2.48	-2.00	-2.38	-1.53
Net Cash From Financing Activities	-3.20	-57	-10	-26	-21	-10	-18	-48	-5.41	-0.05
Net Cash From Continuing Financing Activities	-3.20	-57	-10	-26	-21	-10	-18	-48	-5.41	-0.05
Other Financing Activities, net	-	-60	-3.53	-0.04	-0.28	-0.03	-0.82	-0.05	-0.31	-0.05
Cash Interest Paid	2.25	4.46	5.19	6.11	6.08	5.72	7.30	3.27	2.89	2.84
Cash Income Taxes Paid	0.06	0.02	0.18	0.68	0.13	0.33	0.06	0.06	-0.01	0.00

This table presents Shoals Technologies Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Total Assets	595	844	793
Total Current Assets	154	227	188
Cash & Equivalents	8.77	23	24
Accounts Receivable	67	147	99
Inventories, net	73	53	56
Other Current Assets	4.63	4.42	9.85
Plant, Property, & Equipment, net	17	25	28
Total Noncurrent Assets	424	592	577
Goodwill	70	70	70
Intangible Assets	57	49	41
Noncurrent Deferred & Refundable Income Taxes	292	468	454
Other Noncurrent Operating Assets	6.33	5.17	11
Total Liabilities & Shareholders' Equity	595	844	793
Total Liabilities	294	299	236
Total Current Liabilities	53	93	81
Short-Term Debt	2.00	2.00	0.00
Accounts Payable	9.48	14	20
Accrued Expenses	18	54	42
Current Deferred Revenue	23	22	19
Total Noncurrent Liabilities	241	206	155
Long-Term Debt	237	179	142
Other Noncurrent Operating Liabilities	4.22	27	14
Commitments & Contingencies	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	301	545	557
Total Preferred & Common Equity	291	545	557
Preferred Stock	0.00	0.00	0.00
Total Common Equity	291	545	557
Common Stock	257	471	484
Retained Earnings	34	74	99
Treasury Stock	-	0.00	-25

This table presents Shoals Technologies Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	530	809	819	840	825	788	801
Total Current Assets	183	183	200	214	208	177	191
Cash & Equivalents	11	6.46	5.86	9.22	15	3.19	11
Accounts Receivable	83	95	119	137	127	109	109
Inventories, net	81	74	68	61	60	60	66
Other Current Assets	7.61	8.09	7.18	6.66	6.87	4.78	4.72
Plant, Property, & Equipment, net	17	18	20	23	26	27	28
Total Noncurrent Assets	330	607	599	603	591	584	582
Goodwill	70	70	70	70	70	70	70
Intangible Assets	59	55	53	51	47	45	43
Noncurrent Deferred & Refundable Income Taxes	177	476	470	477	466	462	460
Other Noncurrent Operating Assets	24	6.07	5.70	5.54	8.20	7.76	9.55
Total Liabilities & Shareholders' Equity	530	809	819	840	825	788	801
Total Liabilities	507	303	289	316	271	244	256
Total Current Liabilities	70	65	77	84	80	78	92
Short-Term Debt	2.00	2.00	2.00	2.00	0.00	0.00	0.00
Accounts Payable	21	22	16	17	16	16	24
Accrued Expenses	43	17	28	39	42	41	48
Current Deferred Revenue	-	23	31	27	22	21	21
Total Noncurrent Liabilities	437	238	212	231	192	166	164
Long-Term Debt	275	234	209	188	169	147	142
Other Noncurrent Operating Liabilities	162	3.92	3.62	43	23	19	22
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	23	506	529	525	554	545	545
Total Preferred & Common Equity	26	506	529	525	554	545	545
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	26	506	529	525	554	545	545
Common Stock	105	457	462	467	475	469	480
Retained Earnings	-78	49	68	58	79	91	91
Treasury Stock	-	-	-	-	-	-15	-25

This table displays calculated financial ratios and metrics derived from Shoals Technologies Group's official financial filings.

Metric	2022	2023	2024
Growth Metrics	-	-	-
Revenue Growth	53.34%	49.55%	-18.35%
EBITDA Growth	260.56%	-49.71%	-27.08%
EBIT Growth	393.33%	-53.66%	-35.25%
NOPAT Growth	76.00%	-1.65%	-46.87%
Net Income Growth	3,526.09%	-70.17%	-43.44%
EPS Growth	0.00%	-43.53%	-41.67%
Operating Cash Flow Growth	1,066.32%	133.06%	-12.58%
Free Cash Flow Firm Growth	-256.56%	52.60%	155.19%
Invested Capital Growth	126.51%	32.46%	-4.08%
Revenue Q/Q Growth	16.62%	7.90%	-5.55%
EBITDA Q/Q Growth	216.44%	11.64%	-19.16%
EBIT Q/Q Growth	273.69%	12.04%	-23.12%
NOPAT Q/Q Growth	89.46%	-9.26%	-25.01%
Net Income Q/Q Growth	533.95%	-70.45%	-26.65%
EPS Q/Q Growth	553.85%	-40.00%	-34.88%
Operating Cash Flow Q/Q Growth	418.46%	-8.00%	-13.42%
Free Cash Flow Firm Q/Q Growth	-722.32%	68.24%	-16.53%
Invested Capital Q/Q Growth	84.22%	-0.29%	-0.12%
Profitability Metrics	-	-	-
Gross Margin	40.16%	34.42%	35.57%
EBITDA Margin	55.79%	18.76%	16.76%
Operating Margin	20.29%	16.16%	12.82%
EBIT Margin	52.16%	16.16%	12.82%
Profit (Net Income) Margin	43.74%	8.73%	6.04%
Tax Burden Percent	94.09%	77.66%	63.72%
Interest Burden Percent	89.13%	69.51%	73.99%
Effective Tax Rate	5.91%	22.34%	36.28%
Return on Invested Capital (ROIC)	16.30%	9.94%	4.73%
ROIC Less NNEP Spread (ROIC-NNEP)	50.43%	0.32%	-1.39%
Return on Net Nonoperating Assets (RNNOA)	81.16%	0.15%	-0.35%
Return on Equity (ROE)	97.46%	10.09%	4.38%
Cash Return on Invested Capital (CROIC)	-61.20%	-17.99%	8.89%
Operating Return on Assets (OROA)	33.40%	10.99%	6.25%
Return on Assets (ROA)	28.01%	5.93%	2.95%
Return on Common Equity (ROCE)	97.60%	9.97%	4.38%
Return on Equity Simple (ROE_SIMPLE)	49.08%	7.83%	4.33%
Net Operating Profit after Tax (NOPAT)	62	61	33
NOPAT Margin	19.09%	12.55%	8.17%
Net Nonoperating Expense Percent (NNEP)	-34.13%	9.62%	6.12%
Return On Investment Capital (ROIC_SIMPLE)	11.56%	8.45%	4.67%
Cost of Revenue to Revenue	59.84%	65.58%	64.43%
SG&A Expenses to Revenue	17.10%	16.51%	20.60%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	19.88%	18.26%	22.76%
Earnings before Interest and Taxes (EBIT)	171	79	51
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	182	92	67
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	14.17	4.85	1.66
Price to Tangible Book Value (P/TBV)	25.04	6.20	2.07
Price to Revenue (P/Rev)	12.63	5.41	2.31
Price to Earnings (P/E)	32.35	66.11	38.21
Dividend Yield	0.00%	0.00%	0.00%
Earnings Yield	3.09%	1.51%	2.62%
Enterprise Value to Invested Capital (EV/IC)	8.22	3.98	1.54
Enterprise Value to Revenue (EV/Rev)	13.36	5.73	2.61
Enterprise Value to EBITDA (EV/EBITDA)	23.94	30.54	15.55
Enterprise Value to EBIT (EV/EBIT)	25.61	35.45	20.33
Enterprise Value to NOPAT (EV/NOPAT)	69.99	45.64	31.90
Enterprise Value to Operating Cash Flow (EV/OCF)	110.70	30.47	12.94
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	16.97
Leverage & Solvency	-	-	-
Debt to Equity	0.79	0.33	0.25
Long-Term Debt to Equity	0.79	0.33	0.25
Financial Leverage	1.61	0.46	0.25
Leverage Ratio	3.48	1.70	1.49
Compound Leverage Factor	3.10	1.18	1.10
Debt to Total Capital	44.27%	24.98%	20.29%
Short-Term Debt to Total Capital	0.37%	0.28%	0.00%
Long-Term Debt to Total Capital	43.90%	24.70%	20.29%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.78%	0.00%	0.00%
Common Equity to Total Capital	53.95%	75.02%	79.71%
Debt to EBITDA	1.31	1.98	2.12
Net Debt to EBITDA	1.26	1.73	1.77
Long-Term Debt to EBITDA	1.30	1.96	2.12
Debt to NOPAT	3.83	2.96	4.35
Net Debt to NOPAT	3.69	2.59	3.63
Long-Term Debt to NOPAT	3.80	2.92	4.35
Altman Z-Score	10.21	6.51	3.39
Noncontrolling Interest Sharing Ratio	-0.15%	1.14%	0.00%
Liquidity Ratios	-	-	-
Current Ratio	2.92	2.45	2.33
Quick Ratio	1.45	1.83	1.51
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	-234	-111	61
Operating Cash Flow to CapEx	1,250.95%	869.30%	957.80%
Free Cash Flow to Firm to Interest Expense	-12.64	-4.61	4.43
Operating Cash Flow to Interest Expense	2.13	3.82	5.81
Operating Cash Flow Less CapEx to Interest Expense	1.96	3.38	5.21
Efficiency Ratios	-	-	-
Asset Turnover	0.64	0.68	0.49
Accounts Receivable Turnover	5.82	4.56	3.24
Inventory Turnover	3.52	5.10	4.73
Fixed Asset Turnover	20.15	23.45	15.05
Accounts Payable Turnover	13.28	26.86	14.94
Days Sales Outstanding (DSO)	62.70	80.08	112.58
Days Inventory Outstanding (DIO)	103.76	71.52	77.19
Days Payable Outstanding (DPO)	27.49	13.59	24.43
Cash Conversion Cycle (CCC)	138.97	138.01	165.34
Capital & Investment Metrics	-	-	-
Invested Capital	531	704	675
Invested Capital Turnover	0.85	0.79	0.58
Increase / (Decrease) in Invested Capital	297	172	-29
Enterprise Value (EV)	4,368	2,801	1,040
Market Capitalization	4,128	2,643	922
Book Value per Share	$1.74	$3.20	$3.34
Tangible Book Value per Share	$0.99	$2.51	$2.67
Total Capital	540	726	699
Total Debt	239	181	142
Total Long-Term Debt	237	179	142
Net Debt	230	159	118
Capital Expenditures (CapEx)	3.15	11	8.39
Debt-free, Cash-free Net Working Capital (DFCFNWC)	94	114	84
Debt-free Net Working Capital (DFNWC)	103	137	107
Net Working Capital (NWC)	101	135	107
Net Nonoperating Expense (NNE)	-81	19	8.48
Net Nonoperating Obligations (NNO)	230	159	118
Total Depreciation and Amortization (D&A)	12	13	16
Debt-free, Cash-free Net Working Capital to Revenue	28.80%	23.28%	21.02%
Debt-free Net Working Capital to Revenue	31.48%	27.93%	26.91%
Net Working Capital to Revenue	30.87%	27.52%	26.91%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$1.11	$0.48	$0.28
Adjusted Weighted Average Basic Shares Outstanding	114.50M	328.33M	337.14M
Adjusted Diluted Earnings per Share	$0.85	$0.48	$0.28
Adjusted Weighted Average Diluted Shares Outstanding	167.63M	329.01M	337.45M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	169.54M	170.33M	166.99M
Normalized Net Operating Profit after Tax (NOPAT)	62	61	33
Normalized NOPAT Margin	19.09%	12.55%	8.17%
Pre Tax Income Margin	46.49%	11.24%	9.48%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	9.20	3.28	3.70
NOPAT to Interest Expense	3.37	2.55	2.36
EBIT Less CapEx to Interest Expense	9.03	2.84	3.09
NOPAT Less CapEx to Interest Expense	3.20	2.11	1.75
Payout Ratios	-	-	-
Dividend Payout Ratio	5.43%	6.16%	0.00%
Augmented Payout Ratio	6.45%	8.88%	104.99%

This table displays calculated financial ratios and metrics derived from Shoals Technologies Group's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	51.78%	97.00%	54.59%	62.21%	47.77%	37.81%	-13.59%	-16.74%	-23.88%	-17.98%
EBITDA Growth	121.01%	362.91%	123.14%	114.68%	-133.09%	36.47%	-40.56%	-36.59%	203.33%	-44.30%
EBIT Growth	164.47%	772.16%	160.82%	143.65%	-152.95%	36.35%	-55.62%	-41.27%	142.80%	-48.28%
NOPAT Growth	31.67%	516.07%	192.46%	121.44%	-144.19%	-11.05%	-65.27%	-40.68%	88.63%	-53.38%
Net Income Growth	141.83%	5,597.30%	265.30%	159.13%	-177.03%	-85.98%	-71.89%	-37.63%	97.28%	-52.85%
EPS Growth	600.00%	1,028.57%	400.00%	175.00%	-142.86%	-49.23%	-70.00%	-36.36%	100.00%	-45.45%
Operating Cash Flow Growth	58.13%	1,226.69%	138.33%	46.06%	135.38%	-23.21%	29.73%	35.53%	-43.27%	-47.11%
Free Cash Flow Firm Growth	79.14%	-351.98%	-409.77%	-515.07%	-850.54%	44.44%	108.18%	113.81%	106.85%	125.03%
Invested Capital Growth	27.07%	126.51%	164.70%	166.96%	144.73%	32.46%	-3.80%	-6.27%	-4.24%	-4.08%
Revenue Q/Q Growth	23.59%	4.21%	11.02%	13.44%	12.58%	-2.81%	-30.38%	9.30%	2.94%	4.72%
EBITDA Q/Q Growth	42.25%	14.50%	10.42%	19.36%	-121.93%	572.20%	-51.91%	27.32%	-64.27%	154.54%
EBIT Q/Q Growth	53.77%	17.07%	11.66%	21.21%	-133.41%	401.49%	-63.65%	60.40%	-75.65%	264.35%
NOPAT Q/Q Growth	55.67%	35.56%	-2.88%	8.05%	-131.06%	372.90%	-62.08%	84.55%	-105.95%	1,219.29%
Net Income Q/Q Growth	74.71%	827.20%	-85.64%	11.43%	-151.93%	268.72%	-71.21%	147.21%	-102.26%	3,028.09%
EPS Q/Q Growth	250.00%	364.29%	-84.62%	10.00%	-154.55%	650.00%	-92.31%	133.33%	-100.00%	0.00%
Operating Cash Flow Q/Q Growth	-38.50%	192.94%	-71.22%	181.66%	-0.88%	-4.43%	-51.37%	194.25%	-58.51%	-10.90%
Free Cash Flow Firm Q/Q Growth	36.86%	-513.19%	-58.94%	0.05%	2.42%	64.16%	123.40%	68.82%	-51.59%	30.90%
Invested Capital Q/Q Growth	4.87%	84.22%	38.43%	-0.18%	-3.86%	-0.29%	0.53%	-2.73%	-1.79%	-0.12%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	39.69%	42.66%	45.92%	42.38%	10.54%	42.46%	40.15%	40.30%	24.84%	37.56%
EBITDA Margin	25.22%	27.71%	27.56%	28.99%	-5.65%	27.44%	18.95%	22.08%	7.67%	18.63%
Operating Margin	21.98%	24.69%	24.84%	26.54%	-7.88%	24.43%	12.76%	18.72%	4.43%	15.41%
EBIT Margin	21.98%	24.69%	24.84%	26.54%	-7.88%	24.43%	12.76%	18.72%	4.43%	15.41%
Profit (Net Income) Margin	14.05%	124.99%	16.16%	15.87%	-7.32%	12.71%	5.26%	11.89%	-0.26%	7.31%
Tax Burden Percent	83.88%	97.12%	84.48%	75.30%	59.67%	63.36%	66.10%	76.05%	-18.59%	57.12%
Interest Burden Percent	76.19%	521.11%	77.03%	79.44%	155.80%	82.11%	62.34%	83.52%	31.74%	83.04%
Effective Tax Rate	16.12%	2.88%	15.52%	24.70%	0.00%	36.64%	33.90%	23.95%	118.59%	42.88%
Return on Invested Capital (ROIC)	20.06%	20.48%	15.08%	16.23%	-5.03%	12.26%	5.55%	9.10%	-0.50%	5.10%
ROIC Less NNEP Spread (ROIC-NNEP)	18.48%	60.96%	13.08%	14.15%	-6.11%	10.40%	4.04%	7.77%	-0.14%	3.94%
Return on Net Nonoperating Assets (RNNOA)	806.46%	98.11%	13.19%	12.40%	-4.99%	4.78%	1.46%	2.52%	-0.04%	0.99%
Return on Equity (ROE)	826.52%	118.58%	28.26%	28.63%	-10.02%	17.04%	7.01%	11.62%	-0.54%	6.09%
Cash Return on Invested Capital (CROIC)	-11.06%	-61.20%	-75.09%	-72.65%	-70.36%	-17.99%	10.35%	11.67%	10.63%	8.89%
Operating Return on Assets (OROA)	13.50%	15.81%	14.09%	16.53%	-5.21%	16.61%	7.41%	10.59%	2.28%	7.51%
Return on Assets (ROA)	8.63%	80.02%	9.17%	9.89%	-4.84%	8.64%	3.05%	6.73%	-0.13%	3.56%
Return on Common Equity (ROCE)	1,952.13%	118.76%	28.79%	28.99%	-10.09%	16.85%	7.01%	11.62%	-0.54%	6.09%
Return on Equity Simple (ROE_SIMPLE)	85.42%	0.00%	30.70%	31.54%	27.52%	0.00%	5.50%	4.28%	6.03%	0.00%
Net Operating Profit after Tax (NOPAT)	17	23	22	24	-7.40	20	7.66	14	-0.84	9.42
NOPAT Margin	18.44%	23.98%	20.98%	19.98%	-5.51%	15.48%	8.43%	14.24%	-0.82%	8.80%
Net Nonoperating Expense Percent (NNEP)	1.58%	-40.48%	1.99%	2.08%	1.09%	1.86%	1.51%	1.34%	-0.37%	1.15%
Return On Investment Capital (ROIC_SIMPLE)	-	4.20%	-	-	-	2.78%	-	-	-	1.35%
Cost of Revenue to Revenue	60.31%	57.34%	54.08%	57.62%	89.46%	57.54%	59.85%	59.70%	75.16%	62.44%
SG&A Expenses to Revenue	15.25%	15.71%	19.02%	14.03%	16.80%	16.45%	25.08%	19.36%	18.35%	20.12%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	17.71%	17.97%	21.08%	15.84%	18.42%	18.02%	27.39%	21.58%	20.41%	22.15%
Earnings before Interest and Taxes (EBIT)	20	23	26	32	-11	32	12	19	4.52	16
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	23	26	29	35	-7.58	36	17	22	7.83	20
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	136.44	14.17	7.63	8.20	5.91	4.85	3.43	1.95	1.71	1.66
Price to Tangible Book Value (P/TBV)	0.00	25.04	10.13	10.67	7.67	6.20	4.35	2.47	2.16	2.07
Price to Revenue (P/Rev)	12.85	12.63	10.61	10.59	6.84	5.41	4.01	2.34	2.21	2.31
Price to Earnings (P/E)	273.74	32.35	27.74	28.22	22.80	66.11	62.43	45.58	28.42	38.21
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.37%	3.09%	3.60%	3.54%	4.39%	1.51%	1.60%	2.19%	3.52%	2.62%
Enterprise Value to Invested Capital (EV/IC)	13.40	8.22	5.57	6.19	4.65	3.98	2.90	1.75	1.58	1.54
Enterprise Value to Revenue (EV/Rev)	13.79	13.36	11.24	11.09	7.24	5.73	4.33	2.65	2.52	2.61
Enterprise Value to EBITDA (EV/EBITDA)	67.05	23.94	43.46	40.35	39.95	30.54	25.69	17.92	12.88	15.55
Enterprise Value to EBIT (EV/EBIT)	84.70	25.61	49.66	44.97	46.54	35.45	31.85	23.45	16.01	20.33
Enterprise Value to NOPAT (EV/NOPAT)	117.34	69.99	53.04	49.09	48.53	45.64	43.98	32.61	24.50	31.90
Enterprise Value to Operating Cash Flow (EV/OCF)	507.91	110.70	54.41	54.09	32.84	30.47	21.65	11.51	11.48	12.94
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	27.51	14.54	14.51	16.97
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	12.22	0.79	0.47	0.40	0.36	0.33	0.30	0.27	0.26	0.25
Long-Term Debt to Equity	12.13	0.79	0.46	0.39	0.36	0.33	0.30	0.27	0.26	0.25
Financial Leverage	43.65	1.61	1.01	0.88	0.82	0.46	0.36	0.32	0.29	0.25
Leverage Ratio	79.07	3.48	2.54	2.45	2.50	1.70	1.54	1.50	1.53	1.49
Compound Leverage Factor	60.24	18.13	1.96	1.94	3.90	1.40	0.96	1.25	0.49	1.23
Debt to Total Capital	92.43%	44.27%	31.79%	28.46%	26.63%	24.98%	23.35%	21.23%	20.63%	20.29%
Short-Term Debt to Total Capital	0.67%	0.37%	0.27%	0.27%	0.28%	0.28%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	91.77%	43.90%	31.52%	28.19%	26.35%	24.70%	23.35%	21.23%	20.63%	20.29%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	-1.25%	1.78%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	8.81%	53.95%	68.21%	71.54%	73.37%	75.02%	76.65%	78.77%	79.37%	79.71%
Debt to EBITDA	4.80	1.31	2.50	1.87	2.32	1.98	2.11	2.18	1.71	2.12
Net Debt to EBITDA	4.61	1.26	2.44	1.82	2.20	1.73	1.92	2.13	1.58	1.77
Long-Term Debt to EBITDA	4.77	1.30	2.48	1.85	2.29	1.96	2.11	2.18	1.71	2.12
Debt to NOPAT	8.41	3.83	3.06	2.27	2.81	2.96	3.61	3.97	3.26	4.35
Net Debt to NOPAT	8.07	3.69	2.97	2.21	2.68	2.59	3.29	3.88	3.00	3.63
Long-Term Debt to NOPAT	8.35	3.80	3.03	2.25	2.79	2.92	3.61	3.97	3.26	4.35
Altman Z-Score	4.96	9.39	8.48	9.92	6.68	6.32	5.15	3.58	3.04	3.25
Noncontrolling Interest Sharing Ratio	-136.19%	-0.15%	-1.85%	-1.25%	-0.68%	1.14%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.60	2.92	2.83	2.59	2.54	2.45	2.62	2.26	2.08	2.33
Quick Ratio	1.34	1.45	1.57	1.61	1.74	1.83	1.78	1.44	1.31	1.51
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-45	-274	-436	-435	-425	-152	36	60	29	38
Operating Cash Flow to CapEx	4,818.44%	4,525.76%	494.91%	1,176.12%	847.60%	900.78%	517.92%	1,890.16%	660.45%	913.65%
Free Cash Flow to Firm to Interest Expense	-9.40	-47.43	-72.64	-66.92	-72.01	-26.71	8.17	19.63	9.43	11.50
Operating Cash Flow to Interest Expense	2.47	5.96	1.65	4.29	4.69	4.64	2.95	12.35	5.08	4.22
Operating Cash Flow Less CapEx to Interest Expense	2.42	5.83	1.32	3.93	4.14	4.12	2.38	11.70	4.31	3.76
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.61	0.64	0.57	0.62	0.66	0.68	0.58	0.57	0.52	0.49
Accounts Receivable Turnover	4.05	5.82	4.33	4.29	4.11	4.56	4.28	3.99	3.43	3.24
Inventory Turnover	3.18	3.52	3.42	3.52	4.22	5.10	4.77	4.81	4.19	4.73
Fixed Asset Turnover	18.11	20.15	21.15	22.13	23.01	23.45	21.28	19.30	16.63	15.05
Accounts Payable Turnover	8.66	13.28	10.59	11.58	15.78	26.86	16.89	19.04	13.15	14.94
Days Sales Outstanding (DSO)	90.07	62.70	84.28	85.14	88.84	80.08	85.31	91.53	106.43	112.58
Days Inventory Outstanding (DIO)	114.66	103.76	106.68	103.69	86.50	71.52	76.46	75.86	87.19	77.19
Days Payable Outstanding (DPO)	42.13	27.49	34.47	31.51	23.13	13.59	21.61	19.17	27.75	24.43
Cash Conversion Cycle (CCC)	162.60	138.97	156.48	157.32	152.22	138.01	140.17	148.21	165.87	165.34
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	288	531	735	734	706	704	707	688	676	675
Invested Capital Turnover	1.09	0.85	0.72	0.81	0.91	0.79	0.66	0.64	0.61	0.58
Increase / (Decrease) in Invested Capital	61	297	458	459	417	172	-28	-46	-30	-29
Enterprise Value (EV)	3,865	4,368	4,093	4,545	3,283	2,801	2,055	1,207	1,066	1,040
Market Capitalization	3,603	4,128	3,864	4,341	3,101	2,643	1,901	1,063	935	922
Book Value per Share	$0.16	$1.74	$2.99	$3.12	$3.09	$3.20	$3.25	$3.20	$3.27	$3.34
Tangible Book Value per Share	($0.61)	$0.99	$2.25	$2.40	$2.38	$2.51	$2.57	$2.52	$2.59	$2.67
Total Capital	300	540	742	740	715	726	723	691	687	699
Total Debt	277	239	236	211	190	181	169	147	142	142
Total Long-Term Debt	275	237	234	209	188	179	169	147	142	142
Net Debt	266	230	229	205	181	159	154	144	131	118
Capital Expenditures (CapEx)	0.24	0.76	2.00	2.37	3.27	2.94	2.48	2.00	2.38	1.53
Debt-free, Cash-free Net Working Capital (DFCFNWC)	104	94	114	119	123	114	114	96	88	84
Debt-free Net Working Capital (DFNWC)	115	103	121	125	132	137	129	99	99	107
Net Working Capital (NWC)	113	101	119	123	130	135	129	99	99	107
Net Nonoperating Expense (NNE)	3.99	-96	5.07	4.90	2.43	3.61	2.88	2.33	-0.57	1.60
Net Nonoperating Obligations (NNO)	266	230	229	205	181	159	154	144	131	118
Total Depreciation and Amortization (D&A)	2.94	2.85	2.86	2.93	2.99	3.92	5.63	3.33	3.31	3.45
Debt-free, Cash-free Net Working Capital to Revenue	36.96%	28.80%	31.35%	29.06%	27.06%	23.28%	23.94%	21.07%	20.76%	21.02%
Debt-free Net Working Capital to Revenue	40.95%	31.48%	33.12%	30.49%	29.09%	27.93%	27.15%	21.77%	23.39%	26.91%
Net Working Capital to Revenue	40.24%	30.87%	32.58%	30.00%	28.65%	27.52%	27.15%	21.77%	23.39%	26.91%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.14	$0.91	$0.10	$0.11	($0.12)	$0.33	$0.03	$0.07	$0.00	$0.18
Adjusted Weighted Average Basic Shares Outstanding	225.95M	114.50M	146.41M	169.89M	339.93M	328.33M	170.28M	169.99M	167.32M	337.14M
Adjusted Diluted Earnings per Share	$0.14	$0.65	$0.10	$0.11	($0.12)	$0.33	$0.03	$0.07	$0.00	$0.18
Adjusted Weighted Average Diluted Shares Outstanding	227.17M	167.63M	147.11M	170.24M	339.93M	329.01M	170.51M	170.10M	167.38M	337.45M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	167.32M	169.54M	169.82M	169.94M	170.06M	170.33M	170.42M	166.65M	166.70M	166.99M
Normalized Net Operating Profit after Tax (NOPAT)	17	23	22	24	-7.40	20	7.66	14	3.17	9.42
Normalized NOPAT Margin	18.44%	23.98%	20.98%	19.98%	-5.51%	15.48%	8.43%	14.24%	3.10%	8.80%
Pre Tax Income Margin	16.75%	128.69%	19.13%	21.08%	-12.27%	20.06%	7.95%	15.64%	1.41%	12.79%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.20	4.05	4.35	4.86	-1.79	5.59	2.66	6.07	1.47	4.97
NOPAT to Interest Expense	3.52	3.93	3.68	3.66	-1.25	3.54	1.76	4.61	-0.27	2.84
EBIT Less CapEx to Interest Expense	4.15	3.91	4.02	4.50	-2.35	5.08	2.09	5.41	0.70	4.51
NOPAT Less CapEx to Interest Expense	3.47	3.80	3.34	3.30	-1.81	3.03	1.19	3.96	-1.04	2.38
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	585.46%	5.43%	4.80%	3.49%	1.82%	6.16%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	585.46%	6.45%	4.80%	3.49%	1.82%	8.88%	0.00%	113.12%	80.54%	104.99%

Frequently Asked Questions About Shoals Technologies Group's Financials

When does Shoals Technologies Group's financial year end?

According to the most recent income statement we have on file, Shoals Technologies Group's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Shoals Technologies Group's net income changed over the last 2 years?

Shoals Technologies Group's net income appears to be on a downward trend, with a most recent value of $24.13 million in 2024, falling from $143.01 million in 2022. The previous period was $42.66 million in 2023.

What is Shoals Technologies Group's operating income?

Shoals Technologies Group's total operating income in 2024 was $51.17 million, based on the following breakdown:

Total Gross Profit: $142.02 million
Total Operating Expenses: $90.85 million

How has Shoals Technologies Group revenue changed over the last 2 years?

Over the last 2 years, Shoals Technologies Group's total revenue changed from $326.94 million in 2022 to $399.21 million in 2024, a change of 22.1%.

How much debt does Shoals Technologies Group have?

Shoals Technologies Group's total liabilities were at $236.28 million at the end of 2024, a 21.0% decrease from 2023, and a 19.6% decrease since 2022.

How much cash does Shoals Technologies Group have?

In the past 2 years, Shoals Technologies Group's cash and equivalents has ranged from $8.77 million in 2022 to $23.51 million in 2024, and is currently $23.51 million as of their latest financial filing in 2024.

How has Shoals Technologies Group's book value per share changed over the last 2 years?

Over the last 2 years, Shoals Technologies Group's book value per share changed from 1.74 in 2022 to 3.34 in 2024, a change of 91.8%.

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This page (NASDAQ:SHLS) was last updated on 4/16/2025 by MarketBeat.com Staff

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Shoals Technologies Group (SHLS) Financials

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