vs
Side-by-side financial comparison of SAUL CENTERS, INC. (BFS) 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 $75.1M, roughly 2.0× SAUL CENTERS, INC.). SAUL CENTERS, INC. runs the higher net margin — 8.7% vs 5.5%, a 3.2% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs 10.6%). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs 6.2%).
Saul Centers, Inc. is a self-administered real estate investment trust (REIT) headquartered in the United States. It primarily owns, operates, and develops high-quality shopping centers, mixed-use properties, and multifamily residential assets, with its core portfolio concentrated in the Washington D.C. metropolitan area and other select high-growth U.S. regional markets.
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.
BFS vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $148.3M |
| Net Profit | $6.5M | $8.1M |
| Gross Margin | — | 31.6% |
| Operating Margin | 65.4% | 11.7% |
| Net Margin | 8.7% | 5.5% |
| Revenue YoY | 10.6% | 38.6% |
| Net Profit YoY | -19.6% | 3.9% |
| EPS (diluted) | $0.15 | $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 | $75.1M | $148.3M | ||
| Q3 25 | $72.0M | $135.8M | ||
| Q2 25 | $70.8M | $110.8M | ||
| Q1 25 | $71.9M | $80.4M | ||
| Q4 24 | $67.9M | $107.0M | ||
| Q3 24 | $67.3M | $102.2M | ||
| Q2 24 | $66.9M | $99.2M | ||
| Q1 24 | $66.7M | $90.8M |
| Q4 25 | $6.5M | $8.1M | ||
| Q3 25 | $10.5M | $11.9M | ||
| Q2 25 | $10.7M | $13.9M | ||
| Q1 25 | $9.8M | $-282.0K | ||
| Q4 24 | $8.1M | $7.8M | ||
| Q3 24 | $14.5M | $-267.0K | ||
| Q2 24 | $14.4M | $11.8M | ||
| Q1 24 | $13.6M | $4.8M |
| Q4 25 | — | 31.6% | ||
| Q3 25 | — | 37.0% | ||
| Q2 25 | — | 37.2% | ||
| Q1 25 | — | 35.0% | ||
| Q4 24 | — | 37.6% | ||
| Q3 24 | 73.6% | 24.8% | ||
| Q2 24 | 74.2% | 40.3% | ||
| Q1 24 | 72.8% | 40.2% |
| Q4 25 | 65.4% | 11.7% | ||
| Q3 25 | 69.1% | 13.7% | ||
| Q2 25 | 68.7% | 14.4% | ||
| Q1 25 | 66.5% | 5.4% | ||
| Q4 24 | 82.9% | 15.4% | ||
| Q3 24 | 72.8% | 4.4% | ||
| Q2 24 | 75.0% | 18.7% | ||
| Q1 24 | 72.4% | 12.8% |
| Q4 25 | 8.7% | 5.5% | ||
| Q3 25 | 14.6% | 8.7% | ||
| Q2 25 | 15.1% | 12.5% | ||
| Q1 25 | 13.6% | -0.4% | ||
| Q4 24 | 11.9% | 7.3% | ||
| Q3 24 | 21.5% | -0.3% | ||
| Q2 24 | 21.6% | 11.9% | ||
| Q1 24 | 20.4% | 5.3% |
| Q4 25 | $0.15 | $0.05 | ||
| Q3 25 | $0.32 | $0.07 | ||
| Q2 25 | $0.33 | $0.08 | ||
| Q1 25 | $0.29 | $0.00 | ||
| Q4 24 | $0.22 | $0.04 | ||
| Q3 24 | $0.48 | $0.00 | ||
| Q2 24 | $0.48 | $0.07 | ||
| Q1 24 | $0.45 | $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 | $8.7M | $7.3M |
| Total DebtLower is stronger | $468.4M | — |
| Stockholders' EquityBook value | $307.8M | $600.0M |
| Total Assets | $2.2B | $904.1M |
| Debt / EquityLower = less leverage | 1.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.7M | $7.3M | ||
| Q3 25 | $11.8M | $8.6M | ||
| Q2 25 | $5.3M | $4.7M | ||
| Q1 25 | $6.5M | $35.6M | ||
| Q4 24 | $10.3M | $23.5M | ||
| Q3 24 | $7.2M | $11.1M | ||
| Q2 24 | $6.9M | $3.2M | ||
| Q1 24 | $7.1M | $15.2M |
| Q4 25 | $468.4M | — | ||
| Q3 25 | $1.6B | — | ||
| Q2 25 | $1.6B | — | ||
| Q1 25 | $1.5B | $141.8M | ||
| Q4 24 | $455.8M | $141.8M | ||
| Q3 24 | $1.5B | $141.8M | ||
| Q2 24 | $1.4B | $146.8M | ||
| Q1 24 | $1.4B | $168.8M |
| Q4 25 | $307.8M | $600.0M | ||
| Q3 25 | $316.6M | $589.6M | ||
| Q2 25 | $322.4M | $575.4M | ||
| Q1 25 | $328.4M | $558.9M | ||
| Q4 24 | $335.8M | $556.8M | ||
| Q3 24 | $341.8M | $545.2M | ||
| Q2 24 | $345.7M | $544.6M | ||
| Q1 24 | $347.1M | $554.0M |
| Q4 25 | $2.2B | $904.1M | ||
| Q3 25 | $2.2B | $851.8M | ||
| Q2 25 | $2.1B | $795.0M | ||
| Q1 25 | $2.1B | $788.4M | ||
| Q4 24 | $2.1B | $793.1M | ||
| Q3 24 | $2.1B | $801.3M | ||
| Q2 24 | $2.1B | $788.4M | ||
| Q1 24 | $2.0B | $825.3M |
| Q4 25 | 1.52× | — | ||
| Q3 25 | 5.02× | — | ||
| Q2 25 | 4.85× | — | ||
| Q1 25 | 4.70× | 0.25× | ||
| Q4 24 | 1.36× | 0.25× | ||
| Q3 24 | 4.37× | 0.26× | ||
| Q2 24 | 4.17× | 0.27× | ||
| Q1 24 | 4.06× | 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 | $99.8M | $-4.1M |
| Free Cash FlowOCF − Capex | — | $-11.3M |
| FCF MarginFCF / Revenue | — | -7.6% |
| Capex IntensityCapex / Revenue | — | 4.8% |
| Cash ConversionOCF / Net Profit | 15.35× | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $99.8M | $-4.1M | ||
| Q3 25 | $20.6M | $19.4M | ||
| Q2 25 | $26.6M | $-13.8M | ||
| Q1 25 | $30.4M | $15.6M | ||
| Q4 24 | $121.2M | $14.0M | ||
| Q3 24 | $26.5M | $15.7M | ||
| Q2 24 | $32.1M | $37.8M | ||
| Q1 24 | $33.8M | $12.9M |
| Q4 25 | — | $-11.3M | ||
| Q3 25 | — | $9.0M | ||
| Q2 25 | — | $-26.0M | ||
| Q1 25 | — | $12.3M | ||
| Q4 24 | — | $12.5M | ||
| Q3 24 | $-28.3M | $13.3M | ||
| Q2 24 | $-12.5M | $35.8M | ||
| Q1 24 | $-11.7M | $10.4M |
| Q4 25 | — | -7.6% | ||
| Q3 25 | — | 6.6% | ||
| Q2 25 | — | -23.5% | ||
| Q1 25 | — | 15.4% | ||
| Q4 24 | — | 11.6% | ||
| Q3 24 | -42.1% | 13.0% | ||
| Q2 24 | -18.7% | 36.1% | ||
| Q1 24 | -17.6% | 11.4% |
| Q4 25 | — | 4.8% | ||
| Q3 25 | — | 7.7% | ||
| Q2 25 | — | 11.0% | ||
| Q1 25 | — | 4.0% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | 81.5% | 2.3% | ||
| Q2 24 | 66.7% | 2.0% | ||
| Q1 24 | 68.3% | 2.7% |
| Q4 25 | 15.35× | -0.50× | ||
| Q3 25 | 1.97× | 1.63× | ||
| Q2 25 | 2.48× | -1.00× | ||
| Q1 25 | 3.10× | — | ||
| Q4 24 | 14.98× | 1.79× | ||
| Q3 24 | 1.83× | — | ||
| Q2 24 | 2.22× | 3.21× | ||
| Q1 24 | 2.48× | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFS
Segment breakdown not available.
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
