Shoals Technologies Group Inc (SHLS)
🔔 Watch stock
symbol.quality_heading
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
No going-concern qualification, an Altman Z around 6.6 and an order book that can turn the inventory mountain back into money in the second half of 2026 — but a liquidity buffer of only $17.3 million forgives no disruption: a customer default, a project delay or a faster subsidy phase-out would hit the cash line directly, and then the answer would be a capital increase or more expensive credit. Whoever steps in should read the cash flow line of the coming quarterly reports, not the revenue line. The decision is yours.
symbol.quality_note
Shoals Technologies builds the nervous system of large solar farms: the complete wiring between solar module and inverter. The order book is fuller than ever at $758 million, revenue jumped 74.9 percent in the first quarter of 2026 — and still the stock shows up in our warning scanner "Insolvency Radar: Cash Running Out". We read the annual report (10-K) for 2025 and the quarterly report (10-Q) as of March 31, 2026: $1.9 million in cash, $181.8 of the $200 million credit line drawn, a worked-off $73 million warranty drama, a $70 million settlement with its own shareholders — and a tax law that stamps an expiry date on U.S. solar subsidies. Not investment advice — just the look behind the shop window before you step into the store.
Read the analysis
Stock Watch
This analysis is as of July 15, 2026. Stock Watch will tell you what's changed at SHLS since then.
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Appears in These Scanners
This stock currently matches 11 of our scanner strategies — each hit links to the scanner.
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners
Trading Day
Key levels of the most recently completed trading day — not a live quote.
52-Week Range
Current price 8.70 $ — 51% of the range above the low.
Lowest and highest closing price over the last 52 weeks. The marker shows where the current price sits within that range: close to the high speaks for strength, close to the low for weakness.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 08/03/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
AI Rating
NeutralGeprüft am 14.07.2026 gegen die Geschäftsberichte (10-K) für 2025 (eingereicht 24.02.2026) und 2024 (25.02.2025) sowie die vier jüngsten Quartalsberichte (10-Q, zuletzt zum 31.03.2026): In den ausgewerteten SEC-Filings von Shoals findet sich kein KI-Produkt, kein dokumentierter operativer KI-Einsatz und kein konkretes KI-Geschäftsrisiko fürs eigene Modell. KI erscheint ausschließlich als Endmarkt-Nachfragetreiber — der 10-K 2025 beschreibt im Business-Teil, dass die beschleunigte KI-Nutzung den Strombedarf mit jedem neuen Rechenzentrum „beispiellos“ steigen lässt („we are seeing an acceleration of artificial intelligence (AI) adoption, driving an unprecedented increase in energy demand as each new data center gets built“) und Shoals deshalb EBOS-Lösungen für Rechenzentrums-Strominfrastruktur anbietet; die Risk Factors behandeln KI nur spiegelbildlich (Risiko, dass sich die Rechenzentrums-/KI-Nachfrage langsamer entwickelt als erhofft) plus eine generische Cyber-Floskel zu KI-gestützten Angriffen. Verkabelung für Solarparks und Rechenzentren ist ein KI-nahes Endmarkt-Narrativ, kein Verkauf eigener KI-Produkte — nach dem Kriterienkatalog bleibt es bei „neutral“ (Endmarkt-Exponierung allein begründet kein „verkauft“, Boilerplate-Cyber-Risiken kein „bedroht“). In den vier ausgewerteten 10-Q finden sich keinerlei KI-Treffer.
View the full file — quotes, sources, reviewed filings
Filings Reviewed: 10-Q 2026-05-05 · 10-Q 2025-11-04 · 10-Q 2025-08-05 · 10-Q 2025-05-06 · 10-K 2026-02-24 · 10-K 2025-02-25
Rated on July 14, 2026 · How the Rating Is Built
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Analysts & Price Target
The price target sits 27.0% above the current price.
- Consensus
- Sell
- Analyst Ratings
- 21
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 0.42 | 0.28 – 0.50 | 624 | 15.3% | 18 |
| 12/31/2027 | 0.51 | 0.40 – 0.68 | 681 | 23.9% | 18 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Next Reporting Date
- Expected Earnings per Share
- 0.09 $
Expected date of the next quarterly or annual figures. Dates do shift occasionally — only the invitation issued by the company is binding.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.05 | -51.90 | 107 | -18.00 | 7.30 | 14 | 13 |
| 2025: Q1 | 0.00 | -106.00 | 80 | -11.50 | -0.40 | 16 | 12 |
| 2025: Q2 | 0.08 | 19.20 | 111 | 11.70 | 12.50 | -14 | -26 |
| 2025: Q3 | 0.07 | 275.40 | 136 | 32.90 | 8.70 | 19 | 9 |
| 2025: Q4 | 0.05 | 2.20 | 148 | 38.60 | 5.50 | -4 | -11 |
| 2026: Q1 | 0.00 | – | 141 | 74.90 | -0.20 | -41 | -49 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Annual Figures
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2018 | 104 | 11 | 9 | 0.05 | 3 | 138 | 186 |
| 2019 | 145 | 27 | 25 | 0.15 | 36 | 150 | 188 |
| 2020 | 176 | 37 | 34 | 0.21 | 54 | -184 | 195 |
| 2021 | 213 | 36 | 2 | 0.02 | -4 | 3 | 426 |
| 2022 | 327 | 66 | 128 | 0.76 | 39 | 291 | 595 |
| 2023 | 489 | 79 | 40 | 0.24 | 92 | 545 | 844 |
| 2024 | 399 | 51 | 24 | 0.14 | 80 | 557 | 793 |
| 2025 | 475 | 56 | 34 | 0.20 | 17 | 600 | 904 |
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Assessment: Opportunities & Risks
Leading specialist for solar EBOS with the patented Big Lead Assembly system and expansion into battery storage and data centers: a $758.0 million order book as of March 31, 2026 (plus 17.5 percent year over year), 78.8 percent of revenue from system solutions, customer deposits of 10 to 20 percent (quarterly report 10-Q).
Revenue plus 74.9 percent in the first quarter of 2026, net income of $33.6 million in 2025 — but the adjusted gross margin fell from 47.0 (2023) to 35.0 percent (2025) and a reported 29.2 percent in Q1 2026, pressed by tariffs and expressly price-driven market-share gains; Piotroski F-Score 2 of 9.
$1.9 million in cash and $15.4 million of available credit line (March 31, 2026) against minus $41.4 million of operating cash flow in the quarter ($69.6 million inventory build-up); the $200 million credit line is 91 percent drawn. No going-concern qualification, the credit line runs until March 2029 — but the buffer is wafer-thin.
The $73 million warranty drama is paid to the tune of $69.7 million (remaining provision $1.6 million), the $70 million shareholder settlement is insured for $64.8 million (final hearing September 2026). Open: the derivative suit, possible further shrinkback cases, no product-warranty insurance — and, as an unbooked opportunity, the Prysmian lawsuit plus the ITC patent win against Voltage.
H.R. 1 ends the solar tax credits for facilities placed in service after 2027 — part of the boom is presumably pulled-forward demand; the FEOC rules are still unfinished. Add 19.1 percent of revenue on the largest customer (top 5: 53.7 percent) and tariff pressure on the margin (annual report 10-K for 2025).
Shoals is the opposite of a zombie company: profitable, growing, with a record order book, positive equity and worked-off legacy burdens. The radar hit is still no false alarm but to be taken literally: $1.9 million in cash, 91 percent of the credit line drawn, minus $41.4 million of operating cash flow in one quarter — Shoals finances its own boom on the edge, while the margin falls and Washington has stamped an expiry date on solar subsidies. Not investment advice.
- Scanner membership shifts daily: in the data set of July 8, 2026 SHLS was not yet in the Insolvency Radar; on July 14, 2026 (verified live) the row is included, because the Q1 figures pushed the four-quarter sum of operating cash flow below zero.
- Price and valuation figures dated July 8, 2026 (about $9.90, about $1.76 billion market value); short interest and scanner screenshot dated July 14, 2026. Analyses are evergreen, daily prices are not a buy argument.
- The class-action settlement ($70.0 million, of which $64.8 million insured) has preliminary court approval; the final hearing is set for September 2026.
About the Company
Shoals Technologies Group, Inc. bietet Lösungen und Komponenten für das elektrische Balance of System (EBOS) in den USA und international an.
| Employees | 1,480 |
|---|---|
| Headquarters | Portland, TN |
| Address | 1500 Shoals Way, 37148 Portland, United States |
| Phone | 615 451 1400 |
| Website | shoals.com |
| IPO Date | 27. Jan 2021 |
| ISIN | US82489W1071 |
Management
| Name | Title | Birth Year |
|---|---|---|
| Brandon Moss | CEO & Director | 1980 |
| Jeffery Tolnar | President | 1964 |
| Dominic Bardos | Chief Financial Officer | 1966 |
| Bobbie L. King Jr. | Chief Legal Officer & Corporate Secretary | 1986 |
| Kirsten Moen | Chief Operations Officer | 1976 |
| David Sean Van Bibber | Chief Accounting Officer | 1971 |
| Matthew Tractenberg | Vice President of Finance & Investor Relations | – |
| Lindsey Williams | Vice President of Marketing | – |
| Karen Bazela | Vice President of Sales | – |
| James Hart | Chief People Officer | 1981 |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Insider Transactions
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| 17. Jul 2026 | Moss Brandon | Chief Executive Officer | Other | 9,133 | 10.30 | 94,070 |
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
View all insider transactions →Chart
Interactive price chart (TradingView).
Data as of: July 31, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.