Shoals Technologies Group, Inc. (SHLS) Financial Ratios
8 years of historical data (2018–2025) · Energy · Solar
EV/EBITDA
↓
22.83
↓-41% vs avg
5yr avg: 38.46
30Y Low16.5·High64.1
P/FCF
↓
N/A
—
5yr avg: 52.77
30Y Low13.0·High113.9
P/B Ratio
↓
2.20
↓-61% vs avg
5yr avg: 5.62
30Y Low1.7·High13.7
ROE
↓
5.8%
↑-78% vs avg
5yr avg: 26.6%
30Y Low4%·High87%
Debt/EBITDA
↓
2.70
↓-12% vs avg
5yr avg: 3.08
30Y Low0.7·High7.7
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
SHLS Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Shoals Technologies Group, Inc. trades at 39.2x earnings, 85% below its 5-year average of 266.6x, sitting at the 25th percentile of its historical range. Compared to the Energy sector median P/E of 16.8x, the stock trades at a premium of 134%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.3B | $1.4B | $933M | $2.6B | $4.1B | $2.7B | — | — | — |
| Enterprise Value | $1.5B | $1.6B | $1.1B | $2.7B | $4.4B | $3.0B | — | — | — |
| P/E Ratio → | 39.20 | 42.50 | 39.50 | 64.75 | 29.02 | 1157.14 | — | — | — |
| P/S Ratio | 2.77 | 3.01 | 2.34 | 5.23 | 12.65 | 12.77 | — | — | — |
| P/B Ratio | 2.20 | 2.39 | 1.68 | 4.69 | 13.74 | — | — | — | — |
| P/FCF | — | — | 12.96 | 31.41 | 113.92 | — | — | — | — |
| P/OCF | 77.07 | 83.86 | 11.61 | 27.80 | 104.81 | — | — | — | — |
P/E links to full P/E history page with 30-year chart
SHLS EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Shoals Technologies Group, Inc.'s enterprise value stands at 22.8x EBITDA, 41% below its 5-year average of 38.5x. The Energy sector median is 8.1x, placing the stock at a 183% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.36 | 2.63 | 5.55 | 13.35 | 13.91 | — | — | — |
| EV / EBITDA | 22.83 | 24.61 | 16.48 | 30.31 | 56.82 | 64.06 | — | — | — |
| EV / EBIT | 26.31 | 27.33 | 20.34 | 34.35 | 25.60 | 159.58 | — | — | — |
| EV / FCF | — | — | 14.60 | 33.36 | 120.27 | — | — | — | — |
SHLS Profitability
Margins and return-on-capital ratios measuring operating efficiency
Shoals Technologies Group, Inc. earns an operating margin of 11.9%, below the Energy sector average of 14.3%. Operating margins have compressed from 16.2% to 11.9% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 5.8% is modest, trailing the sector median of 7.8%. ROIC of 5.9% represents adequate returns on invested capital versus a sector median of 6.3%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 35.0% | 35.0% | 35.6% | 34.4% | 40.2% | 38.8% | 37.9% | 30.6% | 27.1% |
| Operating Margin | 11.9% | 11.9% | 12.8% | 16.2% | 20.3% | 17.0% | 21.2% | 18.6% | 10.7% |
| Net Profit Margin | 7.1% | 7.1% | 6.0% | 8.2% | 39.0% | 1.1% | 19.2% | 17.4% | 8.3% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.8% | 5.8% | 4.4% | 9.5% | 87.0% | — | — | 17.4% | 6.3% |
| ROA | 4.0% | 4.0% | 2.9% | 5.6% | 25.0% | 0.8% | 17.6% | 13.5% | 4.7% |
| ROIC | 5.9% | 5.9% | 5.6% | 9.6% | 13.0% | 13.6% | 16.8% | 11.7% | — |
| ROCE | 7.6% | 7.6% | 7.0% | 12.2% | 14.2% | 12.8% | 22.3% | 16.0% | 6.4% |
SHLS Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Shoals Technologies Group, Inc. carries a Debt/EBITDA ratio of 2.7x, which is moderately leveraged (11% above the sector average of 2.4x). Net debt stands at $168M ($175M total debt minus $7M cash). Interest coverage of 5.9x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.29 | 0.29 | 0.25 | 0.33 | 0.79 | — | — | 0.17 | 0.29 |
| Debt / EBITDA | 2.70 | 2.70 | 2.22 | 2.03 | 3.11 | 5.34 | 7.69 | 0.72 | 1.97 |
| Net Debt / Equity | — | 0.28 | 0.21 | 0.29 | 0.77 | — | — | 0.13 | 0.28 |
| Net Debt / EBITDA | 2.59 | 2.59 | 1.85 | 1.77 | 3.00 | 5.23 | 7.47 | 0.53 | 1.96 |
| Debt / FCF | — | — | 1.64 | 1.95 | 6.34 | — | 6.86 | 0.55 | 24.69 |
| Interest Coverage | 5.85 | 5.85 | 3.74 | 3.28 | 9.20 | 1.28 | 10.62 | 15.07 | 4.54 |
SHLS Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Shoals Technologies Group, Inc.'s current ratio of 2.03x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 1.32x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 2.45x to 2.03x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.03 | 2.03 | 2.33 | 2.45 | 2.92 | 2.96 | 2.33 | 1.90 | 3.29 |
| Quick Ratio | 1.32 | 1.32 | 1.64 | 1.88 | 1.53 | 1.75 | 1.70 | 1.54 | 2.41 |
| Cash Ratio | 0.06 | 0.06 | 0.29 | 0.25 | 0.17 | 0.16 | 0.42 | 0.29 | 0.01 |
| Asset Turnover | — | 0.53 | 0.50 | 0.58 | 0.55 | 0.50 | 0.90 | 0.77 | 0.56 |
| Inventory Turnover | 3.44 | 3.44 | 4.59 | 6.07 | 2.69 | 3.40 | 7.21 | 11.35 | 7.60 |
| Days Sales Outstanding | — | 115.89 | 90.53 | 109.93 | 75.12 | 77.09 | 64.05 | 75.27 | 91.50 |
SHLS Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Shoals Technologies Group, Inc. returns 0.0% to shareholders annually primarily through share buybacks. The earnings yield of 2.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | 1113.7% | 55.6% | 123.3% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.6% | 2.4% | 2.5% | 1.5% | 3.4% | 0.1% | — | — | — |
| FCF Yield | — | — | 7.7% | 3.2% | 0.9% | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 2.7% | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 2.7% | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $168M | $169M | $165M | $168M | $112M | $160M | $167M | $167M |
Peer Comparison
Compare SHLS with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 SHLSYou | $1B | 39.2 | 22.8 | — | 35.0% | 11.9% | 5.8% | 5.9% | 2.7 |
 GNRC | $16B | 99.2 | 34.4 | 58.4 | 38.3% | 6.9% | 6.2% | 5.9% | 2.8 |
 REZI | $6B | -10.7 | 10.7 | — | 29.4% | 8.1% | -16.9% | 9.0% | 3.9 |
 ARRY | $1B | -11.2 | 13.5 | 15.7 | 21.2% | 6.6% | -19.0% | 9.0% | 5.8 |
 FTCI | $68M | -0.8 | — | — | 1.1% | -33.5% | — | — | — |
 ENPH | $5B | 27.5 | 22.2 | 48.7 | 46.6% | 11.2% | 17.9% | 6.8% | 5.1 |
 SEDG | $2B | -5.6 | — | 29.1 | 15.3% | -24.1% | -74.7% | -29.5% | — |
 FSLR | $23B | 15.1 | 9.4 | 19.4 | 40.6% | 32.3% | 17.4% | 17.6% | 0.2 |
 SPWR | $866M | -15.2 | — | — | 48.5% | -2.0% | — | -5.3% | — |
 RUN | $3B | 8.1 | 24.3 | — | 26.8% | -4.3% | 9.8% | -0.5% | 21.4 |
 NEE | $195B | 28.4 | 18.7 | — | 62.8% | 30.1% | 10.7% | 4.1% | 6.2 |
| Energy Median | — | 16.8 | 8.1 | 14.3 | 31.9% | 14.3% | 7.8% | 6.3% | 2.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 8 years · Updated daily
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Start ComparisonSHLS — Frequently Asked Questions
Quick answers to the most common questions about buying SHLS stock.
What is Shoals Technologies Group, Inc.'s P/E ratio?
Shoals Technologies Group, Inc.'s current P/E ratio is 39.2x. The historical average is 43.9x. This places it at the 25th percentile of its historical range.
What is Shoals Technologies Group, Inc.'s EV/EBITDA?
Shoals Technologies Group, Inc.'s current EV/EBITDA is 22.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 38.5x.
What is Shoals Technologies Group, Inc.'s ROE?
Shoals Technologies Group, Inc.'s return on equity (ROE) is 5.8%. The historical average is 21.7%.
Is SHLS stock overvalued?
Based on historical data, Shoals Technologies Group, Inc. is trading at a P/E of 39.2x. This is at the 25th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Shoals Technologies Group, Inc.'s profit margins?
Shoals Technologies Group, Inc. has 35.0% gross margin and 11.9% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Shoals Technologies Group, Inc. have?
Shoals Technologies Group, Inc.'s Debt/EBITDA ratio is 2.7x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.