SPRU
Spruce Power Holding Corporation
Solar
Market Cap$63M
5Y Perf.-97.7%
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Stock Comparison
SPRU vs SHLS
Revenue, margins, valuation, and 5-year total return — side by side.
SHLS
Shoals Technologies Group, Inc.
Solar
Market Cap$1.32B
5Y Perf.-76.9%
SPRU vs SHLS — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | SPRU | SHLS |
|---|---|---|
| Industry | Solar | Solar |
| Market Cap | $63M | $1.32B |
| Revenue (TTM) | $108M | $536M |
| Net Income (TTM) | $-25M | $34M |
| Gross Margin | 61.3% | 33.5% |
| Operating Margin | 8.5% | 11.2% |
| Forward P/E | — | 19.4x |
| Total Debt | $711M | $175M |
| Cash & Equiv. | $73M | $7M |
SPRU vs SHLS — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
SPRU
SHLS
| Stock | Jan 21 | May 26 | Return |
|---|---|---|---|
| Spruce Power Holdin… (SPRU) | 100 | 2.3 | -97.7% |
| Shoals Technologies… (SHLS) | 100 | 23.1 | -76.9% |
Price return only. Dividends and distributions are not included.
Quick Verdict: SPRU vs SHLS
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: SHLS leads in 3 of 6 categories, making it the strongest pick for growth and revenue expansion and profitability and margin quality. Spruce Power Holding Corporation is the stronger pick specifically for capital preservation and lower volatility and recent price momentum and sentiment. As sector peers, any of these can serve as alternatives in the same allocation.
SPRU
Spruce Power Holding Corporation
The Income Pick
SPRU is the clearest fit if your priority is income & stability and sleep-well-at-night.
- Dividend streak 1 yrs, beta 0.33
- Lower volatility, beta 0.33, current ratio 2.29x
- Beta 0.33, current ratio 2.29x
Best for: income & stability and sleep-well-at-night
SHLS
Shoals Technologies Group, Inc.
The Growth Play
SHLS carries the broadest edge in this set and is the clearest fit for growth exposure and long-term compounding.
- Rev growth 19.1%, EPS growth 42.9%, 3Y rev CAGR 13.3%
- -74.7% 10Y total return vs SPRU's -95.6%
- 19.1% revenue growth vs SPRU's 2.8%
Best for: growth exposure and long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | SHLS | 19.1% revenue growth vs SPRU's 2.8% |
| Quality / Margins | SHLS | 6.3% margin vs SPRU's -23.2% |
| Stability / Safety | SPRU | Beta 0.33 vs SHLS's 2.08 |
| Dividends | Tie | Neither stock pays a meaningful dividend |
| Momentum (1Y) | SPRU | +97.7% vs SHLS's +66.5% |
| Efficiency (ROA) | SHLS | 3.7% ROA vs SPRU's -2.9%, ROIC 5.9% vs -5.1% |
SPRU vs SHLS — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2024
FY 2025
SPRU vs SHLS — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLSHLSLAGGINGSPRU
SPRUSpruce Power Holding …
1leads
SHLSShoals Technologies G…
3leads
6 Total Categories
CATEGORYLEADERvs SPRUMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
SHLS4/5
Valuation MetricsMultiples, price ratios, and targets
SPRU3/3
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
SHLS9/9
Total Returns1Y, 3Y, 5Y total returns with dividends
Tied
—
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
SHLS1/1
Income & Cash Flow (Last 12 Months)
SHLS leads this category, winning 4 of 5 comparable metrics.
Income & Cash Flow (Last 12 Months)
SHLS is the larger business by revenue, generating $536M annually — 5.0x SPRU's $108M. SHLS is the more profitable business, keeping 6.3% of every revenue dollar as net income compared to SPRU's -23.2%. On growth, SHLS holds the edge at +74.9% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | SPRUSpruce Power Hold… | SHLSShoals Technologi… |
|---|---|---|
| RevenueTrailing 12 months | $108M | $536M |
| EBITDAEarnings before interest/tax | $36M | $73M |
| Net IncomeAfter-tax profit | -$25M | $34M |
| Free Cash FlowCash after capex | -$25M | -$77M |
| Gross MarginGross profit ÷ Revenue | +61.3% | +33.5% |
| Operating MarginEBIT ÷ Revenue | +8.5% | +11.2% |
| Net MarginNet income ÷ Revenue | -23.2% | +6.3% |
| FCF MarginFCF ÷ Revenue | -23.4% | -14.5% |
| Rev. Growth (YoY)Latest quarter vs prior year | +43.7% | +74.9% |
| EPS Growth (YoY)Latest quarter vs prior year | +98.3% | — |
SHLS leads this category, winning 4 of 5 comparable metrics.
Valuation Metrics
SPRU leads this category, winning 3 of 3 comparable metrics.
Valuation Metrics
| Metric | SPRUSpruce Power Hold… | SHLSShoals Technologi… |
|---|---|---|
| Market CapShares × price | $63M | $1.3B |
| Enterprise ValueMkt cap + debt − cash | $701M | $1.5B |
| Trailing P/EPrice ÷ TTM EPS | -0.91x | 39.20x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 19.40x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | — | 22.83x |
| Price / SalesMarket cap ÷ Revenue | 0.77x | 2.77x |
| Price / BookPrice ÷ Book value/share | 0.44x | 2.20x |
| Price / FCFMarket cap ÷ FCF | — | — |
SPRU leads this category, winning 3 of 3 comparable metrics.
Profitability & Efficiency
SHLS leads this category, winning 9 of 9 comparable metrics.
Profitability & Efficiency
SHLS delivers a 5.7% return on equity — every $100 of shareholder capital generates $6 in annual profit, vs $-20 for SPRU. SHLS carries lower financial leverage with a 0.29x debt-to-equity ratio, signaling a more conservative balance sheet compared to SPRU's 4.87x. On the Piotroski fundamental quality scale (0–9), SHLS scores 5/9 vs SPRU's 2/9, reflecting solid financial health.
| Metric | SPRUSpruce Power Hold… | SHLSShoals Technologi… |
|---|---|---|
| ROE (TTM)Return on equity | -19.7% | +5.7% |
| ROA (TTM)Return on assets | -2.9% | +3.7% |
| ROICReturn on invested capital | -5.1% | +5.9% |
| ROCEReturn on capital employed | -6.1% | +7.6% |
| Piotroski ScoreFundamental quality 0–9 | 2 | 5 |
| Debt / EquityFinancial leverage | 4.87x | 0.29x |
| Net DebtTotal debt minus cash | $638M | $168M |
| Cash & Equiv.Liquid assets | $73M | $7M |
| Total DebtShort + long-term debt | $711M | $175M |
| Interest CoverageEBIT ÷ Interest expense | 0.52x | 5.91x |
SHLS leads this category, winning 9 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
Evenly matched — SPRU and SHLS each lead in 3 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in SHLS five years ago would be worth $2,724 today (with dividends reinvested), compared to $704 for SPRU. Over the past 12 months, SPRU leads with a +97.7% total return vs SHLS's +66.5%. The 3-year compound annual growth rate (CAGR) favors SPRU at -13.7% vs SHLS's -26.5% — a key indicator of consistent wealth creation.
| Metric | SPRUSpruce Power Hold… | SHLSShoals Technologi… |
|---|---|---|
| YTD ReturnYear-to-date | -34.3% | -13.8% |
| 1-Year ReturnPast 12 months | +97.7% | +66.5% |
| 3-Year ReturnCumulative with dividends | -35.7% | -60.2% |
| 5-Year ReturnCumulative with dividends | -93.0% | -72.8% |
| 10-Year ReturnCumulative with dividends | -95.6% | -74.7% |
| CAGR (3Y)Annualised 3-year return | -13.7% | -26.5% |
Evenly matched — SPRU and SHLS each lead in 3 of 6 comparable metrics.
Risk & Volatility
Evenly matched — SPRU and SHLS each lead in 1 of 2 comparable metrics.
Risk & Volatility
SPRU is the less volatile stock with a 0.33 beta — it tends to amplify market swings less than SHLS's 2.08 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. SHLS currently trades 69.0% from its 52-week high vs SPRU's 51.6% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | SPRUSpruce Power Hold… | SHLSShoals Technologi… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.33x | 2.08x |
| 52-Week HighHighest price in past year | $6.75 | $11.36 |
| 52-Week LowLowest price in past year | $1.13 | $3.81 |
| % of 52W HighCurrent price vs 52-week peak | +51.6% | +69.0% |
| RSI (14)Momentum oscillator 0–100 | 41.9 | 63.2 |
| Avg Volume (50D)Average daily shares traded | 44K | 5.1M |
Evenly matched — SPRU and SHLS each lead in 1 of 2 comparable metrics.
Analyst Outlook
SHLS leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
| Metric | SPRUSpruce Power Hold… | SHLSShoals Technologi… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Buy |
| Price TargetConsensus 12-month target | — | $9.83 |
| # AnalystsCovering analysts | — | 23 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | 1 | 3 |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +1.3% | +0.0% |
SHLS leads this category, winning 1 of 1 comparable metric.
Key Takeaway
SHLS leads in 3 of 6 categories (Income & Cash Flow, Profitability & Efficiency). SPRU leads in 1 (Valuation Metrics). 2 tied.
Best OverallShoals Technologies Group, … (SHLS)Leads 3 of 6 categories
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SPRU vs SHLS: Frequently Asked Questions
8 questions · data-driven answers · updated daily
01Is SPRU or SHLS a better buy right now?
For growth investors, Shoals Technologies Group, Inc.
(SHLS) is the stronger pick with 19. 1% revenue growth year-over-year, versus 2. 8% for Spruce Power Holding Corporation (SPRU). Shoals Technologies Group, Inc. (SHLS) offers the better valuation at 39. 2x trailing P/E (19. 4x forward), making it the more compelling value choice. Analysts rate Shoals Technologies Group, Inc. (SHLS) a "Buy" — based on 23 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — SPRU or SHLS?
Over the past 5 years, Shoals Technologies Group, Inc.
(SHLS) delivered a total return of -72. 8%, compared to -93. 0% for Spruce Power Holding Corporation (SPRU). Over 10 years, the gap is even starker: SHLS returned -74. 7% versus SPRU's -95. 6%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — SPRU or SHLS?
By beta (market sensitivity over 5 years), Spruce Power Holding Corporation (SPRU) is the lower-risk stock at 0.
33β versus Shoals Technologies Group, Inc. 's 2. 08β — meaning SHLS is approximately 535% more volatile than SPRU relative to the S&P 500. On balance sheet safety, Shoals Technologies Group, Inc. (SHLS) carries a lower debt/equity ratio of 29% versus 5% for Spruce Power Holding Corporation — giving it more financial flexibility in a downturn.
04Which is growing faster — SPRU or SHLS?
By revenue growth (latest reported year), Shoals Technologies Group, Inc.
(SHLS) is pulling ahead at 19. 1% versus 2. 8% for Spruce Power Holding Corporation (SPRU). On earnings-per-share growth, the picture is similar: Shoals Technologies Group, Inc. grew EPS 42. 9% year-over-year, compared to -6. 7% for Spruce Power Holding Corporation. Over a 3-year CAGR, SPRU leads at 73. 9% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
05Which has better profit margins — SPRU or SHLS?
Shoals Technologies Group, Inc.
(SHLS) is the more profitable company, earning 7. 1% net margin versus -85. 9% for Spruce Power Holding Corporation — meaning it keeps 7. 1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: SHLS leads at 11. 9% versus -61. 4% for SPRU. At the gross margin level — before operating expenses — SPRU leads at 51. 3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Which pays a better dividend — SPRU or SHLS?
None of the stocks in this comparison currently pay a material dividend.
All are effectively zero-yield and should be held for capital appreciation rather than income.
07Is SPRU or SHLS better for a retirement portfolio?
For long-horizon retirement investors, Spruce Power Holding Corporation (SPRU) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
33)). Shoals Technologies Group, Inc. (SHLS) carries a higher beta of 2. 08 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (SPRU: -95. 6%, SHLS: -74. 7%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
08What are the main differences between SPRU and SHLS?
Both stocks operate in the Energy sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: SPRU is a small-cap quality compounder stock; SHLS is a small-cap high-growth stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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