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Side-by-side financial comparison of PATHWARD FINANCIAL, INC. (CASH) and Shoals Technologies Group, Inc. (SHLS). Click either name above to swap in a different company.
PATHWARD FINANCIAL, INC. is the larger business by last-quarter revenue ($276.3M vs $148.3M, roughly 1.9× Shoals Technologies Group, Inc.). PATHWARD FINANCIAL, INC. runs the higher net margin — 26.4% vs 5.5%, a 20.9% gap on every dollar of revenue. Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs 21.0%).
Pathward Financial, Inc. is a U.S.-based banking and financial services company. It adopted its current name in 2022 after its parent, Meta Financial Group, sold the "Meta" trademark to Meta Platforms.
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.
CASH vs SHLS — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $276.3M | $148.3M |
| Net Profit | $72.9M | $8.1M |
| Gross Margin | — | 31.6% |
| Operating Margin | — | 11.7% |
| Net Margin | 26.4% | 5.5% |
| Revenue YoY | — | 38.6% |
| Net Profit YoY | — | 3.9% |
| EPS (diluted) | $3.35 | $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 | $276.3M | — | ||
| Q4 25 | $173.1M | $148.3M | ||
| Q3 25 | $186.7M | $135.8M | ||
| Q2 25 | $195.8M | $110.8M | ||
| Q1 25 | $274.8M | $80.4M | ||
| Q4 24 | $182.6M | $107.0M | ||
| Q3 24 | $179.5M | $102.2M | ||
| Q2 24 | $188.6M | $99.2M |
| Q1 26 | $72.9M | — | ||
| Q4 25 | $35.2M | $8.1M | ||
| Q3 25 | $38.8M | $11.9M | ||
| Q2 25 | $42.1M | $13.9M | ||
| Q1 25 | $75.0M | $-282.0K | ||
| Q4 24 | $30.0M | $7.8M | ||
| Q3 24 | $33.5M | $-267.0K | ||
| Q2 24 | $44.9M | $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 | — | — | ||
| Q4 25 | 24.6% | 11.7% | ||
| Q3 25 | 25.9% | 13.7% | ||
| Q2 25 | 24.1% | 14.4% | ||
| Q1 25 | 33.2% | 5.4% | ||
| Q4 24 | 19.8% | 15.4% | ||
| Q3 24 | 20.9% | 4.4% | ||
| Q2 24 | 27.1% | 18.7% |
| Q1 26 | 26.4% | — | ||
| Q4 25 | 20.3% | 5.5% | ||
| Q3 25 | 20.8% | 8.7% | ||
| Q2 25 | 21.5% | 12.5% | ||
| Q1 25 | 27.3% | -0.4% | ||
| Q4 24 | 16.4% | 7.3% | ||
| Q3 24 | 18.7% | -0.3% | ||
| Q2 24 | 23.8% | 11.9% |
| Q1 26 | $3.35 | — | ||
| Q4 25 | $1.57 | $0.05 | ||
| Q3 25 | $1.69 | $0.07 | ||
| Q2 25 | $1.81 | $0.08 | ||
| Q1 25 | $3.14 | $0.00 | ||
| Q4 24 | $1.23 | $0.04 | ||
| Q3 24 | $1.34 | $0.00 | ||
| Q2 24 | $1.78 | $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 | $157.6M | $7.3M |
| Total DebtLower is stronger | $59.5M | — |
| Stockholders' EquityBook value | $850.7M | $600.0M |
| Total Assets | $7.1B | $904.1M |
| Debt / EquityLower = less leverage | 0.07× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $157.6M | — | ||
| Q4 25 | $331.2M | $7.3M | ||
| Q3 25 | $120.6M | $8.6M | ||
| Q2 25 | $258.3M | $4.7M | ||
| Q1 25 | $254.2M | $35.6M | ||
| Q4 24 | $597.4M | $23.5M | ||
| Q3 24 | $158.3M | $11.1M | ||
| Q2 24 | $298.9M | $3.2M |
| Q1 26 | $59.5M | — | ||
| Q4 25 | $33.5M | — | ||
| Q3 25 | $33.5M | — | ||
| Q2 25 | $33.4M | — | ||
| Q1 25 | $33.4M | $141.8M | ||
| Q4 24 | $33.4M | $141.8M | ||
| Q3 24 | $33.4M | $141.8M | ||
| Q2 24 | $33.3M | $146.8M |
| Q1 26 | $850.7M | — | ||
| Q4 25 | $854.5M | $600.0M | ||
| Q3 25 | $858.0M | $589.6M | ||
| Q2 25 | $819.0M | $575.4M | ||
| Q1 25 | $814.7M | $558.9M | ||
| Q4 24 | $758.3M | $556.8M | ||
| Q3 24 | $822.5M | $545.2M | ||
| Q2 24 | $748.4M | $544.6M |
| Q1 26 | $7.1B | — | ||
| Q4 25 | $7.6B | $904.1M | ||
| Q3 25 | $7.2B | $851.8M | ||
| Q2 25 | $7.2B | $795.0M | ||
| Q1 25 | $7.0B | $788.4M | ||
| Q4 24 | $7.6B | $793.1M | ||
| Q3 24 | $7.5B | $801.3M | ||
| Q2 24 | $7.5B | $788.4M |
| Q1 26 | 0.07× | — | ||
| Q4 25 | 0.04× | — | ||
| Q3 25 | 0.04× | — | ||
| Q2 25 | 0.04× | — | ||
| Q1 25 | 0.04× | 0.25× | ||
| Q4 24 | 0.04× | 0.25× | ||
| Q3 24 | 0.04× | 0.26× | ||
| Q2 24 | 0.04× | 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 | — | 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 | $108.3M | $-4.1M | ||
| Q3 25 | $303.7M | $19.4M | ||
| Q2 25 | $30.4M | $-13.8M | ||
| Q1 25 | $188.3M | $15.6M | ||
| Q4 24 | $-71.7M | $14.0M | ||
| Q3 24 | $143.1M | $15.7M | ||
| Q2 24 | $113.2M | $37.8M |
| Q1 26 | — | — | ||
| Q4 25 | $104.1M | $-11.3M | ||
| Q3 25 | $300.3M | $9.0M | ||
| Q2 25 | $27.7M | $-26.0M | ||
| Q1 25 | $184.7M | $12.3M | ||
| Q4 24 | $-73.8M | $12.5M | ||
| Q3 24 | $138.8M | $13.3M | ||
| Q2 24 | $111.0M | $35.8M |
| Q1 26 | — | — | ||
| Q4 25 | 60.1% | -7.6% | ||
| Q3 25 | 160.9% | 6.6% | ||
| Q2 25 | 14.1% | -23.5% | ||
| Q1 25 | 67.2% | 15.4% | ||
| Q4 24 | -40.4% | 11.6% | ||
| Q3 24 | 77.3% | 13.0% | ||
| Q2 24 | 58.8% | 36.1% |
| Q1 26 | — | — | ||
| Q4 25 | 2.4% | 4.8% | ||
| Q3 25 | 1.8% | 7.7% | ||
| Q2 25 | 1.4% | 11.0% | ||
| Q1 25 | 1.3% | 4.0% | ||
| Q4 24 | 1.1% | 1.4% | ||
| Q3 24 | 2.4% | 2.3% | ||
| Q2 24 | 1.2% | 2.0% |
| Q1 26 | — | — | ||
| Q4 25 | 3.08× | -0.50× | ||
| Q3 25 | 7.83× | 1.63× | ||
| Q2 25 | 0.72× | -1.00× | ||
| Q1 25 | 2.51× | — | ||
| Q4 24 | -2.39× | 1.79× | ||
| Q3 24 | 4.27× | — | ||
| Q2 24 | 2.52× | 3.21× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CASH
| Noninterest Income | $151.2M | 55% |
| Net Interest Income | $125.1M | 45% |
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
