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Side-by-side financial comparison of DMC Global Inc. (BOOM) 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 $143.5M, roughly 1.0× DMC Global Inc.). Shoals Technologies Group, Inc. runs the higher net margin — 5.5% vs -7.8%, a 13.3% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs -5.8%). DMC Global Inc. produced more free cash flow last quarter ($9.6M vs $-11.3M). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs -7.3%).
DMC Mining Services is a mining services contractor founded in 1980 operating in Canada, the United States, Chile, and Mongolia
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.
BOOM vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $143.5M | $148.3M |
| Net Profit | $-11.2M | $8.1M |
| Gross Margin | 17.1% | 31.6% |
| Operating Margin | -7.8% | 11.7% |
| Net Margin | -7.8% | 5.5% |
| Revenue YoY | -5.8% | 38.6% |
| Net Profit YoY | -3871.6% | 3.9% |
| EPS (diluted) | $-0.60 | $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 | $143.5M | $148.3M | ||
| Q3 25 | $151.5M | $135.8M | ||
| Q2 25 | $155.5M | $110.8M | ||
| Q1 25 | $159.3M | $80.4M | ||
| Q4 24 | $152.4M | $107.0M | ||
| Q3 24 | $152.4M | $102.2M | ||
| Q2 24 | $171.2M | $99.2M | ||
| Q1 24 | $166.9M | $90.8M |
| Q4 25 | $-11.2M | $8.1M | ||
| Q3 25 | $-3.1M | $11.9M | ||
| Q2 25 | $116.0K | $13.9M | ||
| Q1 25 | $677.0K | $-282.0K | ||
| Q4 24 | $296.0K | $7.8M | ||
| Q3 24 | $-101.3M | $-267.0K | ||
| Q2 24 | $4.0M | $11.8M | ||
| Q1 24 | $2.6M | $4.8M |
| Q4 25 | 17.1% | 31.6% | ||
| Q3 25 | 21.7% | 37.0% | ||
| Q2 25 | 23.6% | 37.2% | ||
| Q1 25 | 25.9% | 35.0% | ||
| Q4 24 | 20.8% | 37.6% | ||
| Q3 24 | 19.8% | 24.8% | ||
| Q2 24 | 27.1% | 40.3% | ||
| Q1 24 | 25.4% | 40.2% |
| Q4 25 | -7.8% | 11.7% | ||
| Q3 25 | 0.4% | 13.7% | ||
| Q2 25 | 2.5% | 14.4% | ||
| Q1 25 | 4.1% | 5.4% | ||
| Q4 24 | -0.5% | 15.4% | ||
| Q3 24 | -97.7% | 4.4% | ||
| Q2 24 | 6.8% | 18.7% | ||
| Q1 24 | 4.0% | 12.8% |
| Q4 25 | -7.8% | 5.5% | ||
| Q3 25 | -2.0% | 8.7% | ||
| Q2 25 | 0.1% | 12.5% | ||
| Q1 25 | 0.4% | -0.4% | ||
| Q4 24 | 0.2% | 7.3% | ||
| Q3 24 | -66.5% | -0.3% | ||
| Q2 24 | 2.3% | 11.9% | ||
| Q1 24 | 1.5% | 5.3% |
| Q4 25 | $-0.60 | $0.05 | ||
| Q3 25 | $-0.10 | $0.07 | ||
| Q2 25 | $-0.24 | $0.08 | ||
| Q1 25 | $0.04 | $0.00 | ||
| Q4 24 | $-0.18 | $0.04 | ||
| Q3 24 | $-8.27 | $0.00 | ||
| Q2 24 | $0.24 | $0.07 | ||
| Q1 24 | $0.01 | $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 | $31.9M | $7.3M |
| Total DebtLower is stronger | $50.6M | — |
| Stockholders' EquityBook value | $242.1M | $600.0M |
| Total Assets | $635.8M | $904.1M |
| Debt / EquityLower = less leverage | 0.21× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $31.9M | $7.3M | ||
| Q3 25 | $26.4M | $8.6M | ||
| Q2 25 | $12.4M | $4.7M | ||
| Q1 25 | $14.7M | $35.6M | ||
| Q4 24 | $14.3M | $23.5M | ||
| Q3 24 | $14.5M | $11.1M | ||
| Q2 24 | $14.6M | $3.2M | ||
| Q1 24 | $20.4M | $15.2M |
| Q4 25 | $50.6M | — | ||
| Q3 25 | $56.5M | — | ||
| Q2 25 | $58.7M | — | ||
| Q1 25 | $72.4M | $141.8M | ||
| Q4 24 | $70.8M | $141.8M | ||
| Q3 24 | $74.2M | $141.8M | ||
| Q2 24 | $84.1M | $146.8M | ||
| Q1 24 | $88.0M | $168.8M |
| Q4 25 | $242.1M | $600.0M | ||
| Q3 25 | $253.0M | $589.6M | ||
| Q2 25 | $253.9M | $575.4M | ||
| Q1 25 | $253.9M | $558.9M | ||
| Q4 24 | $251.0M | $556.8M | ||
| Q3 24 | $256.5M | $545.2M | ||
| Q2 24 | $416.0M | $544.6M | ||
| Q1 24 | $409.9M | $554.0M |
| Q4 25 | $635.8M | $904.1M | ||
| Q3 25 | $644.1M | $851.8M | ||
| Q2 25 | $645.0M | $795.0M | ||
| Q1 25 | $670.6M | $788.4M | ||
| Q4 24 | $671.3M | $793.1M | ||
| Q3 24 | $702.0M | $801.3M | ||
| Q2 24 | $869.5M | $788.4M | ||
| Q1 24 | $860.0M | $825.3M |
| Q4 25 | 0.21× | — | ||
| Q3 25 | 0.22× | — | ||
| Q2 25 | 0.23× | — | ||
| Q1 25 | 0.29× | 0.25× | ||
| Q4 24 | 0.28× | 0.25× | ||
| Q3 24 | 0.29× | 0.26× | ||
| Q2 24 | 0.20× | 0.27× | ||
| Q1 24 | 0.21× | 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 | $15.2M | $-4.1M |
| Free Cash FlowOCF − Capex | $9.6M | $-11.3M |
| FCF MarginFCF / Revenue | 6.7% | -7.6% |
| Capex IntensityCapex / Revenue | 3.9% | 4.8% |
| Cash ConversionOCF / Net Profit | — | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | $37.0M | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.2M | $-4.1M | ||
| Q3 25 | $18.6M | $19.4M | ||
| Q2 25 | $15.2M | $-13.8M | ||
| Q1 25 | $4.5M | $15.6M | ||
| Q4 24 | $11.8M | $14.0M | ||
| Q3 24 | $19.0M | $15.7M | ||
| Q2 24 | $2.3M | $37.8M | ||
| Q1 24 | $13.4M | $12.9M |
| Q4 25 | $9.6M | $-11.3M | ||
| Q3 25 | $14.4M | $9.0M | ||
| Q2 25 | $12.3M | $-26.0M | ||
| Q1 25 | $709.0K | $12.3M | ||
| Q4 24 | $6.1M | $12.5M | ||
| Q3 24 | $12.9M | $13.3M | ||
| Q2 24 | $-204.0K | $35.8M | ||
| Q1 24 | $10.5M | $10.4M |
| Q4 25 | 6.7% | -7.6% | ||
| Q3 25 | 9.5% | 6.6% | ||
| Q2 25 | 7.9% | -23.5% | ||
| Q1 25 | 0.4% | 15.4% | ||
| Q4 24 | 4.0% | 11.6% | ||
| Q3 24 | 8.5% | 13.0% | ||
| Q2 24 | -0.1% | 36.1% | ||
| Q1 24 | 6.3% | 11.4% |
| Q4 25 | 3.9% | 4.8% | ||
| Q3 25 | 2.8% | 7.7% | ||
| Q2 25 | 1.9% | 11.0% | ||
| Q1 25 | 2.4% | 4.0% | ||
| Q4 24 | 3.7% | 1.4% | ||
| Q3 24 | 4.0% | 2.3% | ||
| Q2 24 | 1.5% | 2.0% | ||
| Q1 24 | 1.8% | 2.7% |
| Q4 25 | — | -0.50× | ||
| Q3 25 | — | 1.63× | ||
| Q2 25 | 131.43× | -1.00× | ||
| Q1 25 | 6.63× | — | ||
| Q4 24 | 39.90× | 1.79× | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.58× | 3.21× | ||
| Q1 24 | 5.24× | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BOOM
| Dyna Energetics Segment | $68.9M | 48% |
| Other | $57.0M | 40% |
| Nobel Clad Segment | $17.7M | 12% |
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
