Shoals Technologies (SHLS)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
Fundamental grade
Five factors scored 1 to 9 from SHLS's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Shoals Technologies's 10-K filings. Ten years of the full income statement, balance sheet and cash flow.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $213M | $327M | $489M | $399M | $475M |
| Net income | $2M | $128M | $40M | $24M | $34M |
| Free cash flow | -$8M | $36M | $81M | $72M | -$16M |
| EPS (diluted) | — | $0.85 | $0.24 | $0.14 | $0.20 |
| Operating margin | 17.0% | 20.3% | 16.2% | 12.8% | 11.9% |
Where the revenue comes from
Revenue by products, fiscal 2025. Every breakdown, year by year.
Superinvestors who own SHLS
From each investor's latest 13F filing (what a 13F shows). 3 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Will Nasgovitz Heartland Advisors |
Added | $15M | 0.65% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Added | $12M | 0.00% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
Held | $242,253 | 0.00% | Q2 2026 |
Insider buying
Open-market purchases by Shoals Technologies's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
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In the full deep dive
Questions
Are Shoals Technologies insiders buying the stock?
No open-market insider purchases of SHLS in the last 12 months, according to SEC Form 4 filings.
Which superinvestors own Shoals Technologies?
3 of the superinvestors Investingly tracks hold SHLS in their latest 13F, including Will Nasgovitz, Cliff Asness, Joel Greenblatt.
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Prices and ratios as of Oct 11, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.