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Side-by-side financial comparison of FEDERAL AGRICULTURAL MORTGAGE CORP (AGM) and Shoals Technologies Group, Inc. (SHLS). Click either name above to swap in a different company.
Shoals Technologies Group, Inc. is the larger business by last-quarter revenue ($148.3M vs $107.5M, roughly 1.4× FEDERAL AGRICULTURAL MORTGAGE CORP). On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs 6.1%). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs 7.1%).
The Federal Agricultural Mortgage Corporation, also known as Farmer Mac, is a stockholder-owned, federally chartered corporation established by the U.S. Congress in 1988 under the Agricultural Credit Act of 1987. It was created to establish a secondary market for agricultural real estate and housing mortgage loans, to increase liquidity and the availability of long-term, stable credit for farmers, ranchers, and rural communities.
Shoals Technologies Group is a leading provider of electrical balance of systems solutions for renewable energy and e-mobility. It supplies connectivity components for solar projects, energy storage systems and EV charging infrastructure, serving clients across North America, Europe and Asia-Pacific.
AGM vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $107.5M | $148.3M |
| Net Profit | — | $8.1M |
| Gross Margin | — | 31.6% |
| Operating Margin | 56.3% | 11.7% |
| Net Margin | — | 5.5% |
| Revenue YoY | 6.1% | 38.6% |
| Net Profit YoY | — | 3.9% |
| EPS (diluted) | $3.69 | $0.05 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $107.5M | $148.3M | ||
| Q3 25 | $104.0M | $135.8M | ||
| Q2 25 | $102.6M | $110.8M | ||
| Q1 25 | $94.3M | $80.4M | ||
| Q4 24 | $101.3M | $107.0M | ||
| Q3 24 | $90.3M | $102.2M | ||
| Q2 24 | $89.9M | $99.2M | ||
| Q1 24 | $93.7M | $90.8M |
| Q4 25 | — | $8.1M | ||
| Q3 25 | $55.0M | $11.9M | ||
| Q2 25 | $54.8M | $13.9M | ||
| Q1 25 | $49.7M | $-282.0K | ||
| Q4 24 | $56.5M | $7.8M | ||
| Q3 24 | $49.8M | $-267.0K | ||
| Q2 24 | $47.1M | $11.8M | ||
| Q1 24 | $53.7M | $4.8M |
| Q4 25 | — | 31.6% | ||
| Q3 25 | — | 37.0% | ||
| Q2 25 | — | 37.2% | ||
| Q1 25 | — | 35.0% | ||
| Q4 24 | — | 37.6% | ||
| Q3 24 | — | 24.8% | ||
| Q2 24 | — | 40.3% | ||
| Q1 24 | — | 40.2% |
| Q4 25 | 56.3% | 11.7% | ||
| Q3 25 | 64.1% | 13.7% | ||
| Q2 25 | 63.8% | 14.4% | ||
| Q1 25 | 66.9% | 5.4% | ||
| Q4 24 | 67.5% | 15.4% | ||
| Q3 24 | 69.0% | 4.4% | ||
| Q2 24 | 65.9% | 18.7% | ||
| Q1 24 | 72.8% | 12.8% |
| Q4 25 | — | 5.5% | ||
| Q3 25 | 52.9% | 8.7% | ||
| Q2 25 | 53.4% | 12.5% | ||
| Q1 25 | 52.6% | -0.4% | ||
| Q4 24 | 55.8% | 7.3% | ||
| Q3 24 | 55.2% | -0.3% | ||
| Q2 24 | 52.4% | 11.9% | ||
| Q1 24 | 57.4% | 5.3% |
| Q4 25 | $3.69 | $0.05 | ||
| Q3 25 | $4.44 | $0.07 | ||
| Q2 25 | $4.48 | $0.08 | ||
| Q1 25 | $4.01 | $0.00 | ||
| Q4 24 | $4.62 | $0.04 | ||
| Q3 24 | $3.86 | $0.00 | ||
| Q2 24 | $3.68 | $0.07 | ||
| Q1 24 | $4.28 | $0.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $7.3M |
| Total DebtLower is stronger | $30.8B | — |
| Stockholders' EquityBook value | $1.7B | $600.0M |
| Total Assets | $35.4B | $904.1M |
| Debt / EquityLower = less leverage | 17.93× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $7.3M | ||
| Q3 25 | — | $8.6M | ||
| Q2 25 | — | $4.7M | ||
| Q1 25 | — | $35.6M | ||
| Q4 24 | — | $23.5M | ||
| Q3 24 | $842.1M | $11.1M | ||
| Q2 24 | $923.0M | $3.2M | ||
| Q1 24 | $745.1M | $15.2M |
| Q4 25 | $30.8B | — | ||
| Q3 25 | $29.2B | — | ||
| Q2 25 | $28.9B | — | ||
| Q1 25 | $28.0B | $141.8M | ||
| Q4 24 | $27.5B | $141.8M | ||
| Q3 24 | $27.2B | $141.8M | ||
| Q2 24 | $26.8B | $146.8M | ||
| Q1 24 | $26.8B | $168.8M |
| Q4 25 | $1.7B | $600.0M | ||
| Q3 25 | $1.7B | $589.6M | ||
| Q2 25 | $1.5B | $575.4M | ||
| Q1 25 | $1.5B | $558.9M | ||
| Q4 24 | $1.5B | $556.8M | ||
| Q3 24 | $1.5B | $545.2M | ||
| Q2 24 | $1.5B | $544.6M | ||
| Q1 24 | $1.5B | $554.0M |
| Q4 25 | $35.4B | $904.1M | ||
| Q3 25 | $33.4B | $851.8M | ||
| Q2 25 | $33.0B | $795.0M | ||
| Q1 25 | $31.8B | $788.4M | ||
| Q4 24 | $31.3B | $793.1M | ||
| Q3 24 | $30.6B | $801.3M | ||
| Q2 24 | $30.2B | $788.4M | ||
| Q1 24 | $29.8B | $825.3M |
| Q4 25 | 17.93× | — | ||
| Q3 25 | 17.31× | — | ||
| Q2 25 | 18.70× | — | ||
| Q1 25 | 18.39× | 0.25× | ||
| Q4 24 | 18.48× | 0.25× | ||
| Q3 24 | 18.60× | 0.26× | ||
| Q2 24 | 17.87× | 0.27× | ||
| Q1 24 | 18.11× | 0.30× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $80.1M | $-4.1M |
| Free Cash FlowOCF − Capex | — | $-11.3M |
| FCF MarginFCF / Revenue | — | -7.6% |
| Capex IntensityCapex / Revenue | 0.0% | 4.8% |
| Cash ConversionOCF / Net Profit | — | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $80.1M | $-4.1M | ||
| Q3 25 | $74.2M | $19.4M | ||
| Q2 25 | $-47.7M | $-13.8M | ||
| Q1 25 | $-49.8M | $15.6M | ||
| Q4 24 | $612.6M | $14.0M | ||
| Q3 24 | $-44.4M | $15.7M | ||
| Q2 24 | $56.1M | $37.8M | ||
| Q1 24 | $233.3M | $12.9M |
| Q4 25 | — | $-11.3M | ||
| Q3 25 | — | $9.0M | ||
| Q2 25 | — | $-26.0M | ||
| Q1 25 | — | $12.3M | ||
| Q4 24 | $607.4M | $12.5M | ||
| Q3 24 | $-44.4M | $13.3M | ||
| Q2 24 | $52.6M | $35.8M | ||
| Q1 24 | $231.7M | $10.4M |
| Q4 25 | — | -7.6% | ||
| Q3 25 | — | 6.6% | ||
| Q2 25 | — | -23.5% | ||
| Q1 25 | — | 15.4% | ||
| Q4 24 | 599.8% | 11.6% | ||
| Q3 24 | -49.2% | 13.0% | ||
| Q2 24 | 58.5% | 36.1% | ||
| Q1 24 | 247.3% | 11.4% |
| Q4 25 | 0.0% | 4.8% | ||
| Q3 25 | 0.0% | 7.7% | ||
| Q2 25 | 0.0% | 11.0% | ||
| Q1 25 | 0.0% | 4.0% | ||
| Q4 24 | 5.2% | 1.4% | ||
| Q3 24 | 0.1% | 2.3% | ||
| Q2 24 | 4.0% | 2.0% | ||
| Q1 24 | 1.7% | 2.7% |
| Q4 25 | — | -0.50× | ||
| Q3 25 | 1.35× | 1.63× | ||
| Q2 25 | -0.87× | -1.00× | ||
| Q1 25 | -1.00× | — | ||
| Q4 24 | 10.84× | 1.79× | ||
| Q3 24 | -0.89× | — | ||
| Q2 24 | 1.19× | 3.21× | ||
| Q1 24 | 4.34× | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AGM
Segment breakdown not available.
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
