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Side-by-side financial comparison of BALCHEM CORP (BCPC) and Shoals Technologies Group, Inc. (SHLS). Click either name above to swap in a different company.
BALCHEM CORP is the larger business by last-quarter revenue ($263.6M vs $148.3M, roughly 1.8× Shoals Technologies Group, Inc.). BALCHEM CORP runs the higher net margin — 14.9% vs 5.5%, a 9.4% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs 9.8%). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs 4.9%).
Balchem Corp is a global specialty chemicals and nutritional ingredients provider that develops, manufactures and distributes application-specific products for human nutrition, animal health, pharmaceutical and industrial end markets, serving customers across North America, Europe and Asia Pacific.
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.
BCPC vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $263.6M | $148.3M |
| Net Profit | $39.2M | $8.1M |
| Gross Margin | 35.6% | 31.6% |
| Operating Margin | 19.8% | 11.7% |
| Net Margin | 14.9% | 5.5% |
| Revenue YoY | 9.8% | 38.6% |
| Net Profit YoY | 16.8% | 3.9% |
| EPS (diluted) | $1.21 | $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 | $263.6M | $148.3M | ||
| Q3 25 | $267.6M | $135.8M | ||
| Q2 25 | $255.5M | $110.8M | ||
| Q1 25 | $250.5M | $80.4M | ||
| Q4 24 | $240.0M | $107.0M | ||
| Q3 24 | $239.9M | $102.2M | ||
| Q2 24 | $234.1M | $99.2M | ||
| Q1 24 | $239.7M | $90.8M |
| Q4 25 | $39.2M | $8.1M | ||
| Q3 25 | $40.3M | $11.9M | ||
| Q2 25 | $38.3M | $13.9M | ||
| Q1 25 | $37.1M | $-282.0K | ||
| Q4 24 | $33.6M | $7.8M | ||
| Q3 24 | $33.8M | $-267.0K | ||
| Q2 24 | $32.1M | $11.8M | ||
| Q1 24 | $29.0M | $4.8M |
| Q4 25 | 35.6% | 31.6% | ||
| Q3 25 | 35.7% | 37.0% | ||
| Q2 25 | 36.4% | 37.2% | ||
| Q1 25 | 35.2% | 35.0% | ||
| Q4 24 | 36.0% | 37.6% | ||
| Q3 24 | 35.6% | 24.8% | ||
| Q2 24 | 35.5% | 40.3% | ||
| Q1 24 | 34.0% | 40.2% |
| Q4 25 | 19.8% | 11.7% | ||
| Q3 25 | 20.4% | 13.7% | ||
| Q2 25 | 20.1% | 14.4% | ||
| Q1 25 | 20.4% | 5.4% | ||
| Q4 24 | 19.8% | 15.4% | ||
| Q3 24 | 20.0% | 4.4% | ||
| Q2 24 | 19.6% | 18.7% | ||
| Q1 24 | 17.4% | 12.8% |
| Q4 25 | 14.9% | 5.5% | ||
| Q3 25 | 15.1% | 8.7% | ||
| Q2 25 | 15.0% | 12.5% | ||
| Q1 25 | 14.8% | -0.4% | ||
| Q4 24 | 14.0% | 7.3% | ||
| Q3 24 | 14.1% | -0.3% | ||
| Q2 24 | 13.7% | 11.9% | ||
| Q1 24 | 12.1% | 5.3% |
| Q4 25 | $1.21 | $0.05 | ||
| Q3 25 | $1.24 | $0.07 | ||
| Q2 25 | $1.17 | $0.08 | ||
| Q1 25 | $1.13 | $0.00 | ||
| Q4 24 | $1.03 | $0.04 | ||
| Q3 24 | $1.03 | $0.00 | ||
| Q2 24 | $0.98 | $0.07 | ||
| Q1 24 | $0.89 | $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 | $74.6M | $7.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.3B | $600.0M |
| Total Assets | $1.7B | $904.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $74.6M | $7.3M | ||
| Q3 25 | $65.1M | $8.6M | ||
| Q2 25 | $65.4M | $4.7M | ||
| Q1 25 | $49.9M | $35.6M | ||
| Q4 24 | $49.5M | $23.5M | ||
| Q3 24 | $73.7M | $11.1M | ||
| Q2 24 | $63.7M | $3.2M | ||
| Q1 24 | $60.3M | $15.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $141.8M | ||
| Q4 24 | — | $141.8M | ||
| Q3 24 | — | $141.8M | ||
| Q2 24 | — | $146.8M | ||
| Q1 24 | — | $168.8M |
| Q4 25 | $1.3B | $600.0M | ||
| Q3 25 | $1.3B | $589.6M | ||
| Q2 25 | $1.3B | $575.4M | ||
| Q1 25 | $1.2B | $558.9M | ||
| Q4 24 | $1.1B | $556.8M | ||
| Q3 24 | $1.2B | $545.2M | ||
| Q2 24 | $1.1B | $544.6M | ||
| Q1 24 | $1.1B | $554.0M |
| Q4 25 | $1.7B | $904.1M | ||
| Q3 25 | $1.7B | $851.8M | ||
| Q2 25 | $1.7B | $795.0M | ||
| Q1 25 | $1.6B | $788.4M | ||
| Q4 24 | $1.6B | $793.1M | ||
| Q3 24 | $1.6B | $801.3M | ||
| Q2 24 | $1.6B | $788.4M | ||
| Q1 24 | $1.6B | $825.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.25× | ||
| Q4 24 | — | 0.25× | ||
| Q3 24 | — | 0.26× | ||
| Q2 24 | — | 0.27× | ||
| Q1 24 | — | 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 | $67.3M | $-4.1M |
| Free Cash FlowOCF − Capex | — | $-11.3M |
| FCF MarginFCF / Revenue | — | -7.6% |
| Capex IntensityCapex / Revenue | — | 4.8% |
| Cash ConversionOCF / Net Profit | 1.72× | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $67.3M | $-4.1M | ||
| Q3 25 | $65.6M | $19.4M | ||
| Q2 25 | $47.3M | $-13.8M | ||
| Q1 25 | $36.5M | $15.6M | ||
| Q4 24 | $52.3M | $14.0M | ||
| Q3 24 | $51.3M | $15.7M | ||
| Q2 24 | $45.0M | $37.8M | ||
| Q1 24 | $33.4M | $12.9M |
| 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 24 | — | $10.4M |
| 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 24 | — | 11.4% |
| 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 24 | — | 2.7% |
| Q4 25 | 1.72× | -0.50× | ||
| Q3 25 | 1.63× | 1.63× | ||
| Q2 25 | 1.23× | -1.00× | ||
| Q1 25 | 0.98× | — | ||
| Q4 24 | 1.56× | 1.79× | ||
| Q3 24 | 1.52× | — | ||
| Q2 24 | 1.40× | 3.21× | ||
| Q1 24 | 1.15× | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BCPC
| Human Nutrition And Health | $166.1M | 63% |
| Animal Nutrition And Health | $61.2M | 23% |
| Specialty Products | $34.8M | 13% |
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
