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Side-by-side financial comparison of ACADIA REALTY TRUST (AKR) 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 $103.0M, roughly 1.4× ACADIA REALTY TRUST). ACADIA REALTY TRUST runs the higher net margin — 135.1% vs 5.5%, a 129.6% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs -1.3%). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs 7.0%).
Acadia Realty Trust is a publicly traded real estate investment trust (REIT) that specializes in owning, operating, and redeveloping high-quality retail and mixed-use properties, primarily in dense, high-barrier-to-entry U.S. markets. Its portfolio includes neighborhood shopping centers, urban street retail assets, and community-focused mixed-use developments.
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.
AKR vs SHLS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $103.0M | $148.3M |
| Net Profit | $139.1M | $8.1M |
| Gross Margin | — | 31.6% |
| Operating Margin | 153.9% | 11.7% |
| Net Margin | 135.1% | 5.5% |
| Revenue YoY | -1.3% | 38.6% |
| Net Profit YoY | -58.2% | 3.9% |
| EPS (diluted) | — | $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.
| Q1 26 | $103.0M | — | ||
| Q4 25 | — | $148.3M | ||
| Q3 25 | — | $135.8M | ||
| Q2 25 | — | $110.8M | ||
| Q1 25 | — | $80.4M | ||
| Q4 24 | $93.3M | $107.0M | ||
| Q3 24 | $87.7M | $102.2M | ||
| Q2 24 | $87.3M | $99.2M |
| Q1 26 | $139.1M | — | ||
| Q4 25 | — | $8.1M | ||
| Q3 25 | — | $11.9M | ||
| Q2 25 | — | $13.9M | ||
| Q1 25 | — | $-282.0K | ||
| Q4 24 | $1.2M | $7.8M | ||
| Q3 24 | $12.3M | $-267.0K | ||
| Q2 24 | $1.6M | $11.8M |
| Q1 26 | — | — | ||
| 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 26 | 153.9% | — | ||
| Q4 25 | — | 11.7% | ||
| Q3 25 | — | 13.7% | ||
| Q2 25 | — | 14.4% | ||
| Q1 25 | — | 5.4% | ||
| Q4 24 | 17.5% | 15.4% | ||
| Q3 24 | 19.9% | 4.4% | ||
| Q2 24 | 20.4% | 18.7% |
| Q1 26 | 135.1% | — | ||
| Q4 25 | — | 5.5% | ||
| Q3 25 | — | 8.7% | ||
| Q2 25 | — | 12.5% | ||
| Q1 25 | — | -0.4% | ||
| Q4 24 | 1.2% | 7.3% | ||
| Q3 24 | 14.0% | -0.3% | ||
| Q2 24 | 1.8% | 11.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | $0.05 | ||
| Q3 25 | — | $0.07 | ||
| Q2 25 | — | $0.08 | ||
| Q1 25 | — | $0.00 | ||
| Q4 24 | $0.08 | $0.04 | ||
| Q3 24 | $0.07 | $0.00 | ||
| Q2 24 | $0.01 | $0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $31.4M | $7.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.6B | $600.0M |
| Total Assets | $4.5B | $904.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $31.4M | — | ||
| Q4 25 | — | $7.3M | ||
| Q3 25 | — | $8.6M | ||
| Q2 25 | — | $4.7M | ||
| Q1 25 | — | $35.6M | ||
| Q4 24 | $16.8M | $23.5M | ||
| Q3 24 | $46.2M | $11.1M | ||
| Q2 24 | $31.9M | $3.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $141.8M | ||
| Q4 24 | $1.5B | $141.8M | ||
| Q3 24 | $1.6B | $141.8M | ||
| Q2 24 | $1.7B | $146.8M |
| Q1 26 | $2.6B | — | ||
| Q4 25 | — | $600.0M | ||
| Q3 25 | — | $589.6M | ||
| Q2 25 | — | $575.4M | ||
| Q1 25 | — | $558.9M | ||
| Q4 24 | $2.1B | $556.8M | ||
| Q3 24 | $1.9B | $545.2M | ||
| Q2 24 | $1.8B | $544.6M |
| Q1 26 | $4.5B | — | ||
| Q4 25 | — | $904.1M | ||
| Q3 25 | — | $851.8M | ||
| Q2 25 | — | $795.0M | ||
| Q1 25 | — | $788.4M | ||
| Q4 24 | $4.4B | $793.1M | ||
| Q3 24 | $4.3B | $801.3M | ||
| Q2 24 | $4.3B | $788.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.25× | ||
| Q4 24 | 0.74× | 0.25× | ||
| Q3 24 | 0.82× | 0.26× | ||
| Q2 24 | 0.95× | 0.27× |
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 | — | $-4.1M |
| Free Cash FlowOCF − Capex | — | $-11.3M |
| FCF MarginFCF / Revenue | — | -7.6% |
| Capex IntensityCapex / Revenue | 1.7% | 4.8% |
| Cash ConversionOCF / Net Profit | — | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $-4.1M | ||
| Q3 25 | — | $19.4M | ||
| Q2 25 | — | $-13.8M | ||
| Q1 25 | — | $15.6M | ||
| Q4 24 | $140.4M | $14.0M | ||
| Q3 24 | $44.6M | $15.7M | ||
| Q2 24 | $32.0M | $37.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-11.3M | ||
| Q3 25 | — | $9.0M | ||
| Q2 25 | — | $-26.0M | ||
| Q1 25 | — | $12.3M | ||
| Q4 24 | — | $12.5M | ||
| Q3 24 | — | $13.3M | ||
| Q2 24 | — | $35.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | -7.6% | ||
| Q3 25 | — | 6.6% | ||
| Q2 25 | — | -23.5% | ||
| Q1 25 | — | 15.4% | ||
| Q4 24 | — | 11.6% | ||
| Q3 24 | — | 13.0% | ||
| Q2 24 | — | 36.1% |
| Q1 26 | 1.7% | — | ||
| Q4 25 | — | 4.8% | ||
| Q3 25 | — | 7.7% | ||
| Q2 25 | — | 11.0% | ||
| Q1 25 | — | 4.0% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 2.3% | ||
| Q2 24 | — | 2.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | -0.50× | ||
| Q3 25 | — | 1.63× | ||
| Q2 25 | — | -1.00× | ||
| Q1 25 | — | — | ||
| Q4 24 | 121.08× | 1.79× | ||
| Q3 24 | 3.64× | — | ||
| Q2 24 | 20.25× | 3.21× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AKR
| Rental | $98.6M | 96% |
| Other | $4.4M | 4% |
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
