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Side-by-side financial comparison of Claritev Corp (CTEV) and Shoals Technologies Group, Inc. (SHLS). Click either name above to swap in a different company.
Claritev Corp is the larger business by last-quarter revenue ($246.6M vs $148.3M, roughly 1.7× Shoals Technologies Group, Inc.). Shoals Technologies Group, Inc. runs the higher net margin — 5.5% vs -32.7%, a 38.2% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs 6.2%). Claritev Corp produced more free cash flow last quarter ($36.4M vs $-11.3M). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs 2.5%).
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.
CTEV vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $246.6M | $148.3M |
| Net Profit | $-80.6M | $8.1M |
| Gross Margin | — | 31.6% |
| Operating Margin | -3.1% | 11.7% |
| Net Margin | -32.7% | 5.5% |
| Revenue YoY | 6.2% | 38.6% |
| Net Profit YoY | 41.6% | 3.9% |
| EPS (diluted) | $-4.88 | $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 | $246.6M | $148.3M | ||
| Q3 25 | $246.0M | $135.8M | ||
| Q2 25 | $241.6M | $110.8M | ||
| Q1 25 | $231.3M | $80.4M | ||
| Q4 24 | $232.1M | $107.0M | ||
| Q3 24 | $230.5M | $102.2M | ||
| Q2 24 | $233.5M | $99.2M | ||
| Q1 24 | $234.5M | $90.8M |
| Q4 25 | $-80.6M | $8.1M | ||
| Q3 25 | $-69.8M | $11.9M | ||
| Q2 25 | $-62.6M | $13.9M | ||
| Q1 25 | $-71.3M | $-282.0K | ||
| Q4 24 | $-138.0M | $7.8M | ||
| Q3 24 | $-391.4M | $-267.0K | ||
| Q2 24 | $-576.7M | $11.8M | ||
| Q1 24 | $-539.7M | $4.8M |
| 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 24 | — | 40.2% |
| Q4 25 | -3.1% | 11.7% | ||
| Q3 25 | 4.1% | 13.7% | ||
| Q2 25 | 6.9% | 14.4% | ||
| Q1 25 | 4.2% | 5.4% | ||
| Q4 24 | -17.8% | 15.4% | ||
| Q3 24 | -146.7% | 4.4% | ||
| Q2 24 | -224.4% | 18.7% | ||
| Q1 24 | -207.4% | 12.8% |
| Q4 25 | -32.7% | 5.5% | ||
| Q3 25 | -28.4% | 8.7% | ||
| Q2 25 | -25.9% | 12.5% | ||
| Q1 25 | -30.8% | -0.4% | ||
| Q4 24 | -59.4% | 7.3% | ||
| Q3 24 | -169.8% | -0.3% | ||
| Q2 24 | -247.0% | 11.9% | ||
| Q1 24 | -230.1% | 5.3% |
| Q4 25 | $-4.88 | $0.05 | ||
| Q3 25 | $-4.23 | $0.07 | ||
| Q2 25 | $-3.81 | $0.08 | ||
| Q1 25 | $-4.38 | $0.00 | ||
| Q4 24 | $-8.49 | $0.04 | ||
| Q3 24 | $-24.25 | $0.00 | ||
| Q2 24 | $-35.78 | $0.07 | ||
| Q1 24 | $-33.40 | $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 | $16.8M | $7.3M |
| Total DebtLower is stronger | $4.6B | — |
| Stockholders' EquityBook value | $-173.9M | $600.0M |
| Total Assets | $4.9B | $904.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $16.8M | $7.3M | ||
| Q3 25 | $39.2M | $8.6M | ||
| Q2 25 | $56.4M | $4.7M | ||
| Q1 25 | $23.1M | $35.6M | ||
| Q4 24 | $16.8M | $23.5M | ||
| Q3 24 | $86.6M | $11.1M | ||
| Q2 24 | $48.8M | $3.2M | ||
| Q1 24 | $58.7M | $15.2M |
| Q4 25 | $4.6B | — | ||
| Q3 25 | $4.5B | — | ||
| Q2 25 | $4.5B | — | ||
| Q1 25 | $4.5B | $141.8M | ||
| Q4 24 | $4.5B | $141.8M | ||
| Q3 24 | $4.5B | $141.8M | ||
| Q2 24 | $4.5B | $146.8M | ||
| Q1 24 | $4.5B | $168.8M |
| Q4 25 | $-173.9M | $600.0M | ||
| Q3 25 | $-101.8M | $589.6M | ||
| Q2 25 | $-39.9M | $575.4M | ||
| Q1 25 | $14.8M | $558.9M | ||
| Q4 24 | $84.0M | $556.8M | ||
| Q3 24 | $207.6M | $545.2M | ||
| Q2 24 | $603.4M | $544.6M | ||
| Q1 24 | $1.2B | $554.0M |
| Q4 25 | $4.9B | $904.1M | ||
| Q3 25 | $5.0B | $851.8M | ||
| Q2 25 | $5.1B | $795.0M | ||
| Q1 25 | $5.1B | $788.4M | ||
| Q4 24 | $5.2B | $793.1M | ||
| Q3 24 | $5.3B | $801.3M | ||
| Q2 24 | $5.7B | $788.4M | ||
| Q1 24 | $6.4B | $825.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 304.87× | 0.25× | ||
| Q4 24 | 53.67× | 0.25× | ||
| Q3 24 | 21.73× | 0.26× | ||
| Q2 24 | 7.48× | 0.27× | ||
| Q1 24 | 3.85× | 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 | $66.3M | $-4.1M |
| Free Cash FlowOCF − Capex | $36.4M | $-11.3M |
| FCF MarginFCF / Revenue | 14.8% | -7.6% |
| Capex IntensityCapex / Revenue | 12.1% | 4.8% |
| Cash ConversionOCF / Net Profit | — | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | $-12.3M | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.3M | $-4.1M | ||
| Q3 25 | $19.9M | $19.4M | ||
| Q2 25 | $61.2M | $-13.8M | ||
| Q1 25 | $-30.1M | $15.6M | ||
| Q4 24 | $-33.4M | $14.0M | ||
| Q3 24 | $72.8M | $15.7M | ||
| Q2 24 | $18.5M | $37.8M | ||
| Q1 24 | $49.7M | $12.9M |
| Q4 25 | $36.4M | $-11.3M | ||
| Q3 25 | $-16.3M | $9.0M | ||
| Q2 25 | $36.6M | $-26.0M | ||
| Q1 25 | $-68.9M | $12.3M | ||
| Q4 24 | $-63.8M | $12.5M | ||
| Q3 24 | $41.1M | $13.3M | ||
| Q2 24 | $-7.0M | $35.8M | ||
| Q1 24 | $19.2M | $10.4M |
| Q4 25 | 14.8% | -7.6% | ||
| Q3 25 | -6.6% | 6.6% | ||
| Q2 25 | 15.2% | -23.5% | ||
| Q1 25 | -29.8% | 15.4% | ||
| Q4 24 | -27.5% | 11.6% | ||
| Q3 24 | 17.8% | 13.0% | ||
| Q2 24 | -3.0% | 36.1% | ||
| Q1 24 | 8.2% | 11.4% |
| Q4 25 | 12.1% | 4.8% | ||
| Q3 25 | 14.7% | 7.7% | ||
| Q2 25 | 10.2% | 11.0% | ||
| Q1 25 | 16.8% | 4.0% | ||
| Q4 24 | 13.1% | 1.4% | ||
| Q3 24 | 13.8% | 2.3% | ||
| Q2 24 | 10.9% | 2.0% | ||
| Q1 24 | 13.0% | 2.7% |
| Q4 25 | — | -0.50× | ||
| Q3 25 | — | 1.63× | ||
| Q2 25 | — | -1.00× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.79× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.21× | ||
| Q1 24 | — | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CTEV
Segment breakdown not available.
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
