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Side-by-side financial comparison of Civeo Corp (CVEO) and Shoals Technologies Group, Inc. (SHLS). Click either name above to swap in a different company.
Civeo Corp is the larger business by last-quarter revenue ($161.6M vs $148.3M, roughly 1.1× Shoals Technologies Group, Inc.). Shoals Technologies Group, Inc. runs the higher net margin — 5.5% vs -4.0%, a 9.5% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs 7.1%). Civeo Corp produced more free cash flow last quarter ($14.5M vs $-11.3M). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs -1.4%).
The Civeo Corporation is an American accommodation services multinational corporation. It is a spin-off of Oil States International. It is a public company listed on the New York Stock Exchange.
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.
CVEO vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $161.6M | $148.3M |
| Net Profit | $-6.5M | $8.1M |
| Gross Margin | 22.7% | 31.6% |
| Operating Margin | -0.1% | 11.7% |
| Net Margin | -4.0% | 5.5% |
| Revenue YoY | 7.1% | 38.6% |
| Net Profit YoY | 58.1% | 3.9% |
| EPS (diluted) | $-0.58 | $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 | $161.6M | $148.3M | ||
| Q3 25 | $170.5M | $135.8M | ||
| Q2 25 | $162.7M | $110.8M | ||
| Q1 25 | $144.0M | $80.4M | ||
| Q4 24 | $151.0M | $107.0M | ||
| Q3 24 | $176.3M | $102.2M | ||
| Q2 24 | $188.7M | $99.2M | ||
| Q1 24 | $166.1M | $90.8M |
| Q4 25 | $-6.5M | $8.1M | ||
| Q3 25 | $-455.0K | $11.9M | ||
| Q2 25 | $-3.3M | $13.9M | ||
| Q1 25 | $-9.8M | $-282.0K | ||
| Q4 24 | $-15.4M | $7.8M | ||
| Q3 24 | $-5.1M | $-267.0K | ||
| Q2 24 | $8.2M | $11.8M | ||
| Q1 24 | $-5.1M | $4.8M |
| Q4 25 | 22.7% | 31.6% | ||
| Q3 25 | 25.7% | 37.0% | ||
| Q2 25 | 25.3% | 37.2% | ||
| Q1 25 | 20.4% | 35.0% | ||
| Q4 24 | 18.6% | 37.6% | ||
| Q3 24 | 21.4% | 24.8% | ||
| Q2 24 | 25.4% | 40.3% | ||
| Q1 24 | 21.5% | 40.2% |
| Q4 25 | -0.1% | 11.7% | ||
| Q3 25 | 4.1% | 13.7% | ||
| Q2 25 | 1.7% | 14.4% | ||
| Q1 25 | -3.8% | 5.4% | ||
| Q4 24 | -6.7% | 15.4% | ||
| Q3 24 | 0.0% | 4.4% | ||
| Q2 24 | 6.9% | 18.7% | ||
| Q1 24 | -1.1% | 12.8% |
| Q4 25 | -4.0% | 5.5% | ||
| Q3 25 | -0.3% | 8.7% | ||
| Q2 25 | -2.0% | 12.5% | ||
| Q1 25 | -6.8% | -0.4% | ||
| Q4 24 | -10.2% | 7.3% | ||
| Q3 24 | -2.9% | -0.3% | ||
| Q2 24 | 4.4% | 11.9% | ||
| Q1 24 | -3.1% | 5.3% |
| Q4 25 | $-0.58 | $0.05 | ||
| Q3 25 | $-0.04 | $0.07 | ||
| Q2 25 | $-0.25 | $0.08 | ||
| Q1 25 | $-0.72 | $0.00 | ||
| Q4 24 | $-1.04 | $0.04 | ||
| Q3 24 | $-0.36 | $0.00 | ||
| Q2 24 | $0.56 | $0.07 | ||
| Q1 24 | $-0.35 | $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 | $14.4M | $7.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $174.4M | $600.0M |
| Total Assets | $477.4M | $904.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $14.4M | $7.3M | ||
| Q3 25 | $12.0M | $8.6M | ||
| Q2 25 | $14.6M | $4.7M | ||
| Q1 25 | $28.4M | $35.6M | ||
| Q4 24 | $5.2M | $23.5M | ||
| Q3 24 | $17.9M | $11.1M | ||
| Q2 24 | $7.4M | $3.2M | ||
| Q1 24 | $16.8M | $15.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $141.8M | ||
| Q4 24 | $43.3M | $141.8M | ||
| Q3 24 | — | $141.8M | ||
| Q2 24 | — | $146.8M | ||
| Q1 24 | — | $168.8M |
| Q4 25 | $174.4M | $600.0M | ||
| Q3 25 | $182.5M | $589.6M | ||
| Q2 25 | $209.4M | $575.4M | ||
| Q1 25 | $220.7M | $558.9M | ||
| Q4 24 | $236.4M | $556.8M | ||
| Q3 24 | $282.2M | $545.2M | ||
| Q2 24 | $297.4M | $544.6M | ||
| Q1 24 | $297.4M | $554.0M |
| Q4 25 | $477.4M | $904.1M | ||
| Q3 25 | $491.1M | $851.8M | ||
| Q2 25 | $508.8M | $795.0M | ||
| Q1 25 | $423.8M | $788.4M | ||
| Q4 24 | $405.1M | $793.1M | ||
| Q3 24 | $477.6M | $801.3M | ||
| Q2 24 | $483.2M | $788.4M | ||
| Q1 24 | $513.1M | $825.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.25× | ||
| Q4 24 | 0.18× | 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 | $19.3M | $-4.1M |
| Free Cash FlowOCF − Capex | $14.5M | $-11.3M |
| FCF MarginFCF / Revenue | 8.9% | -7.6% |
| Capex IntensityCapex / Revenue | 3.0% | 4.8% |
| Cash ConversionOCF / Net Profit | — | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | $2.1M | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $19.3M | $-4.1M | ||
| Q3 25 | $13.8M | $19.4M | ||
| Q2 25 | $-2.3M | $-13.8M | ||
| Q1 25 | $-8.4M | $15.6M | ||
| Q4 24 | $9.5M | $14.0M | ||
| Q3 24 | $35.7M | $15.7M | ||
| Q2 24 | $32.4M | $37.8M | ||
| Q1 24 | $6.0M | $12.9M |
| Q4 25 | $14.5M | $-11.3M | ||
| Q3 25 | $8.2M | $9.0M | ||
| Q2 25 | $-6.8M | $-26.0M | ||
| Q1 25 | $-13.7M | $12.3M | ||
| Q4 24 | $1.8M | $12.5M | ||
| Q3 24 | $28.2M | $13.3M | ||
| Q2 24 | $27.0M | $35.8M | ||
| Q1 24 | $372.0K | $10.4M |
| Q4 25 | 8.9% | -7.6% | ||
| Q3 25 | 4.8% | 6.6% | ||
| Q2 25 | -4.2% | -23.5% | ||
| Q1 25 | -9.5% | 15.4% | ||
| Q4 24 | 1.2% | 11.6% | ||
| Q3 24 | 16.0% | 13.0% | ||
| Q2 24 | 14.3% | 36.1% | ||
| Q1 24 | 0.2% | 11.4% |
| Q4 25 | 3.0% | 4.8% | ||
| Q3 25 | 3.3% | 7.7% | ||
| Q2 25 | 2.8% | 11.0% | ||
| Q1 25 | 3.7% | 4.0% | ||
| Q4 24 | 5.1% | 1.4% | ||
| Q3 24 | 4.2% | 2.3% | ||
| Q2 24 | 2.8% | 2.0% | ||
| Q1 24 | 3.4% | 2.7% |
| Q4 25 | — | -0.50× | ||
| Q3 25 | — | 1.63× | ||
| Q2 25 | — | -1.00× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.79× | ||
| Q3 24 | — | — | ||
| Q2 24 | 3.93× | 3.21× | ||
| Q1 24 | — | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CVEO
Segment breakdown not available.
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
