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Side-by-side financial comparison of AerSale Corp (ASLE) 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 $90.9M, roughly 1.6× AerSale Corp). AerSale Corp runs the higher net margin — 5.9% vs 5.5%, a 0.5% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs -4.0%). AerSale Corp produced more free cash flow last quarter ($9.8M vs $-11.3M). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs 0.2%).
AerSale, Inc. is a Doral, Florida-based global supplier of aftermarket commercial jet aircraft, engines, used materials, and aeronautical engineering services to passenger and cargo airlines, government, multinational original equipment manufacturers, and independent MROs. AerSale is a member of the Aircraft Fleet Recycling Association.
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.
ASLE vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $90.9M | $148.3M |
| Net Profit | $5.4M | $8.1M |
| Gross Margin | 34.1% | 31.6% |
| Operating Margin | 7.8% | 11.7% |
| Net Margin | 5.9% | 5.5% |
| Revenue YoY | -4.0% | 38.6% |
| Net Profit YoY | 99.7% | 3.9% |
| EPS (diluted) | $0.10 | $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 | $90.9M | $148.3M | ||
| Q3 25 | $71.2M | $135.8M | ||
| Q2 25 | $107.4M | $110.8M | ||
| Q1 25 | $65.8M | $80.4M | ||
| Q4 24 | $94.7M | $107.0M | ||
| Q3 24 | $82.7M | $102.2M | ||
| Q2 24 | $77.1M | $99.2M | ||
| Q1 24 | $90.5M | $90.8M |
| Q4 25 | $5.4M | $8.1M | ||
| Q3 25 | $-120.0K | $11.9M | ||
| Q2 25 | $8.6M | $13.9M | ||
| Q1 25 | $-5.3M | $-282.0K | ||
| Q4 24 | $2.7M | $7.8M | ||
| Q3 24 | $509.0K | $-267.0K | ||
| Q2 24 | $-3.6M | $11.8M | ||
| Q1 24 | $6.3M | $4.8M |
| Q4 25 | 34.1% | 31.6% | ||
| Q3 25 | 30.2% | 37.0% | ||
| Q2 25 | 32.9% | 37.2% | ||
| Q1 25 | 27.3% | 35.0% | ||
| Q4 24 | 31.4% | 37.6% | ||
| Q3 24 | 28.6% | 24.8% | ||
| Q2 24 | 28.2% | 40.3% | ||
| Q1 24 | 31.8% | 40.2% |
| Q4 25 | 7.8% | 11.7% | ||
| Q3 25 | 4.0% | 13.7% | ||
| Q2 25 | 11.7% | 14.4% | ||
| Q1 25 | -10.1% | 5.4% | ||
| Q4 24 | 5.2% | 15.4% | ||
| Q3 24 | 2.4% | 4.4% | ||
| Q2 24 | -2.4% | 18.7% | ||
| Q1 24 | 5.2% | 12.8% |
| Q4 25 | 5.9% | 5.5% | ||
| Q3 25 | -0.2% | 8.7% | ||
| Q2 25 | 8.0% | 12.5% | ||
| Q1 25 | -8.0% | -0.4% | ||
| Q4 24 | 2.9% | 7.3% | ||
| Q3 24 | 0.6% | -0.3% | ||
| Q2 24 | -4.7% | 11.9% | ||
| Q1 24 | 6.9% | 5.3% |
| Q4 25 | $0.10 | $0.05 | ||
| Q3 25 | $0.00 | $0.07 | ||
| Q2 25 | $0.18 | $0.08 | ||
| Q1 25 | $-0.10 | $0.00 | ||
| Q4 24 | $0.05 | $0.04 | ||
| Q3 24 | $0.01 | $0.00 | ||
| Q2 24 | $-0.07 | $0.07 | ||
| Q1 24 | $0.12 | $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 | $4.4M | $7.3M |
| Total DebtLower is stronger | $1.3M | — |
| Stockholders' EquityBook value | $424.4M | $600.0M |
| Total Assets | $640.5M | $904.1M |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.4M | $7.3M | ||
| Q3 25 | $5.3M | $8.6M | ||
| Q2 25 | $5.7M | $4.7M | ||
| Q1 25 | $4.7M | $35.6M | ||
| Q4 24 | $4.7M | $23.5M | ||
| Q3 24 | $9.8M | $11.1M | ||
| Q2 24 | $4.3M | $3.2M | ||
| Q1 24 | $2.6M | $15.2M |
| Q4 25 | $1.3M | — | ||
| Q3 25 | $1.5M | — | ||
| Q2 25 | $907.0K | — | ||
| Q1 25 | $1.1M | $141.8M | ||
| Q4 24 | $1.2M | $141.8M | ||
| Q3 24 | $376.0K | $141.8M | ||
| Q2 24 | $522.0K | $146.8M | ||
| Q1 24 | $3.5M | $168.8M |
| Q4 25 | $424.4M | $600.0M | ||
| Q3 25 | $417.1M | $589.6M | ||
| Q2 25 | $415.9M | $575.4M | ||
| Q1 25 | $406.5M | $558.9M | ||
| Q4 24 | $455.6M | $556.8M | ||
| Q3 24 | $451.5M | $545.2M | ||
| Q2 24 | $449.8M | $544.6M | ||
| Q1 24 | $452.0M | $554.0M |
| Q4 25 | $640.5M | $904.1M | ||
| Q3 25 | $646.3M | $851.8M | ||
| Q2 25 | $646.7M | $795.0M | ||
| Q1 25 | $646.1M | $788.4M | ||
| Q4 24 | $604.7M | $793.1M | ||
| Q3 24 | $601.5M | $801.3M | ||
| Q2 24 | $598.7M | $788.4M | ||
| Q1 24 | $571.7M | $825.3M |
| Q4 25 | 0.00× | — | ||
| Q3 25 | 0.00× | — | ||
| Q2 25 | 0.00× | — | ||
| Q1 25 | 0.00× | 0.25× | ||
| Q4 24 | 0.00× | 0.25× | ||
| Q3 24 | 0.00× | 0.26× | ||
| Q2 24 | 0.00× | 0.27× | ||
| Q1 24 | 0.01× | 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 | $11.4M | $-4.1M |
| Free Cash FlowOCF − Capex | $9.8M | $-11.3M |
| FCF MarginFCF / Revenue | 10.8% | -7.6% |
| Capex IntensityCapex / Revenue | 1.7% | 4.8% |
| Cash ConversionOCF / Net Profit | 2.11× | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | $-29.1M | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $11.4M | $-4.1M | ||
| Q3 25 | $-8.9M | $19.4M | ||
| Q2 25 | $19.8M | $-13.8M | ||
| Q1 25 | $-45.2M | $15.6M | ||
| Q4 24 | $37.5M | $14.0M | ||
| Q3 24 | $10.4M | $15.7M | ||
| Q2 24 | $-15.3M | $37.8M | ||
| Q1 24 | $-21.5M | $12.9M |
| Q4 25 | $9.8M | $-11.3M | ||
| Q3 25 | $-9.8M | $9.0M | ||
| Q2 25 | $18.6M | $-26.0M | ||
| Q1 25 | $-47.6M | $12.3M | ||
| Q4 24 | $32.3M | $12.5M | ||
| Q3 24 | $8.9M | $13.3M | ||
| Q2 24 | $-18.9M | $35.8M | ||
| Q1 24 | $-25.0M | $10.4M |
| Q4 25 | 10.8% | -7.6% | ||
| Q3 25 | -13.8% | 6.6% | ||
| Q2 25 | 17.3% | -23.5% | ||
| Q1 25 | -72.4% | 15.4% | ||
| Q4 24 | 34.0% | 11.6% | ||
| Q3 24 | 10.7% | 13.0% | ||
| Q2 24 | -24.6% | 36.1% | ||
| Q1 24 | -27.7% | 11.4% |
| Q4 25 | 1.7% | 4.8% | ||
| Q3 25 | 1.3% | 7.7% | ||
| Q2 25 | 1.1% | 11.0% | ||
| Q1 25 | 3.7% | 4.0% | ||
| Q4 24 | 5.6% | 1.4% | ||
| Q3 24 | 1.9% | 2.3% | ||
| Q2 24 | 4.7% | 2.0% | ||
| Q1 24 | 3.9% | 2.7% |
| Q4 25 | 2.11× | -0.50× | ||
| Q3 25 | — | 1.63× | ||
| Q2 25 | 2.31× | -1.00× | ||
| Q1 25 | — | — | ||
| Q4 24 | 13.89× | 1.79× | ||
| Q3 24 | 20.52× | — | ||
| Q2 24 | — | 3.21× | ||
| Q1 24 | -3.42× | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ASLE
| Products | $57.8M | 64% |
| Maintenance | $23.2M | 26% |
| Leasing Arrangements | $9.9M | 11% |
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
