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Side-by-side financial comparison of Commercial Vehicle Group, Inc. (CVGI) and Shoals Technologies Group, Inc. (SHLS). Click either name above to swap in a different company.
Commercial Vehicle Group, Inc. is the larger business by last-quarter revenue ($154.8M vs $148.3M, roughly 1.0× Shoals Technologies Group, Inc.). On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs -5.2%). Commercial Vehicle Group, Inc. produced more free cash flow last quarter ($8.7M vs $-11.3M). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs -10.8%).
WABCO Holdings, Inc. was a U.S.-based provider of electronic braking, stability, suspension and transmission automation systems for heavy-duty commercial vehicles. In 2007, the Vehicle Control Systems was spun off as WABCO Holdings Inc., an American provider of electronic braking, stability, suspension and transmission automation systems for heavy-duty commercial vehicles. Their products are present in many commercial vehicles such as trucks, buses, trailers and off-highway vehicles but they ...
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.
CVGI vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $154.8M | $148.3M |
| Net Profit | — | $8.1M |
| Gross Margin | 9.7% | 31.6% |
| Operating Margin | -1.2% | 11.7% |
| Net Margin | — | 5.5% |
| Revenue YoY | -5.2% | 38.6% |
| Net Profit YoY | — | 3.9% |
| EPS (diluted) | — | $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 | $154.8M | $148.3M | ||
| Q3 25 | $152.5M | $135.8M | ||
| Q2 25 | $172.0M | $110.8M | ||
| Q1 25 | $169.8M | $80.4M | ||
| Q4 24 | $163.3M | $107.0M | ||
| Q3 24 | $171.8M | $102.2M | ||
| Q2 24 | $193.7M | $99.2M | ||
| Q1 24 | $194.6M | $90.8M |
| Q4 25 | — | $8.1M | ||
| Q3 25 | $-7.1M | $11.9M | ||
| Q2 25 | $-4.8M | $13.9M | ||
| Q1 25 | $-4.3M | $-282.0K | ||
| Q4 24 | — | $7.8M | ||
| Q3 24 | $9.5M | $-267.0K | ||
| Q2 24 | $-1.6M | $11.8M | ||
| Q1 24 | $2.9M | $4.8M |
| Q4 25 | 9.7% | 31.6% | ||
| Q3 25 | 10.5% | 37.0% | ||
| Q2 25 | 11.4% | 37.2% | ||
| Q1 25 | 10.5% | 35.0% | ||
| Q4 24 | 8.0% | 37.6% | ||
| Q3 24 | 9.6% | 24.8% | ||
| Q2 24 | 10.6% | 40.3% | ||
| Q1 24 | 11.9% | 40.2% |
| Q4 25 | -1.2% | 11.7% | ||
| Q3 25 | -0.7% | 13.7% | ||
| Q2 25 | 0.5% | 14.4% | ||
| Q1 25 | 0.8% | 5.4% | ||
| Q4 24 | -3.2% | 15.4% | ||
| Q3 24 | -0.6% | 4.4% | ||
| Q2 24 | 0.5% | 18.7% | ||
| Q1 24 | 2.3% | 12.8% |
| Q4 25 | — | 5.5% | ||
| Q3 25 | -4.6% | 8.7% | ||
| Q2 25 | -2.8% | 12.5% | ||
| Q1 25 | -2.5% | -0.4% | ||
| Q4 24 | — | 7.3% | ||
| Q3 24 | 5.5% | -0.3% | ||
| Q2 24 | -0.8% | 11.9% | ||
| Q1 24 | 1.5% | 5.3% |
| Q4 25 | — | $0.05 | ||
| Q3 25 | — | $0.07 | ||
| Q2 25 | — | $0.08 | ||
| Q1 25 | — | $0.00 | ||
| Q4 24 | — | $0.04 | ||
| Q3 24 | — | $0.00 | ||
| Q2 24 | $-0.05 | $0.07 | ||
| Q1 24 | $0.09 | $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 | — | $7.3M |
| Total DebtLower is stronger | $104.9M | — |
| Stockholders' EquityBook value | $133.4M | $600.0M |
| Total Assets | $391.7M | $904.1M |
| Debt / EquityLower = less leverage | 0.79× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $7.3M | ||
| Q3 25 | — | $8.6M | ||
| Q2 25 | — | $4.7M | ||
| Q1 25 | — | $35.6M | ||
| Q4 24 | — | $23.5M | ||
| Q3 24 | — | $11.1M | ||
| Q2 24 | — | $3.2M | ||
| Q1 24 | — | $15.2M |
| Q4 25 | $104.9M | — | ||
| Q3 25 | $108.2M | — | ||
| Q2 25 | $118.2M | — | ||
| Q1 25 | $117.4M | $141.8M | ||
| Q4 24 | $135.5M | $141.8M | ||
| Q3 24 | $128.8M | $141.8M | ||
| Q2 24 | $142.0M | $146.8M | ||
| Q1 24 | $155.7M | $168.8M |
| Q4 25 | $133.4M | $600.0M | ||
| Q3 25 | $136.5M | $589.6M | ||
| Q2 25 | $142.6M | $575.4M | ||
| Q1 25 | $136.7M | $558.9M | ||
| Q4 24 | $135.6M | $556.8M | ||
| Q3 24 | $179.3M | $545.2M | ||
| Q2 24 | $169.6M | $544.6M | ||
| Q1 24 | $175.5M | $554.0M |
| Q4 25 | $391.7M | $904.1M | ||
| Q3 25 | $400.3M | $851.8M | ||
| Q2 25 | $429.8M | $795.0M | ||
| Q1 25 | $419.8M | $788.4M | ||
| Q4 24 | $424.6M | $793.1M | ||
| Q3 24 | $495.3M | $801.3M | ||
| Q2 24 | $503.2M | $788.4M | ||
| Q1 24 | $509.2M | $825.3M |
| Q4 25 | 0.79× | — | ||
| Q3 25 | 0.79× | — | ||
| Q2 25 | 0.83× | — | ||
| Q1 25 | 0.86× | 0.25× | ||
| Q4 24 | 1.00× | 0.25× | ||
| Q3 24 | 0.72× | 0.26× | ||
| Q2 24 | 0.84× | 0.27× | ||
| Q1 24 | 0.89× | 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 | $12.3M | $-4.1M |
| Free Cash FlowOCF − Capex | $8.7M | $-11.3M |
| FCF MarginFCF / Revenue | 5.6% | -7.6% |
| Capex IntensityCapex / Revenue | 2.3% | 4.8% |
| Cash ConversionOCF / Net Profit | — | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | $34.0M | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.3M | $-4.1M | ||
| Q3 25 | $-1.7M | $19.4M | ||
| Q2 25 | $18.9M | $-13.8M | ||
| Q1 25 | $15.2M | $15.6M | ||
| Q4 24 | $-26.6M | $14.0M | ||
| Q3 24 | $-17.1M | $15.7M | ||
| Q2 24 | $12.6M | $37.8M | ||
| Q1 24 | $-2.4M | $12.9M |
| Q4 25 | $8.7M | $-11.3M | ||
| Q3 25 | $-3.5M | $9.0M | ||
| Q2 25 | $17.4M | $-26.0M | ||
| Q1 25 | $11.4M | $12.3M | ||
| Q4 24 | $-30.6M | $12.5M | ||
| Q3 24 | $-20.3M | $13.3M | ||
| Q2 24 | $6.4M | $35.8M | ||
| Q1 24 | $-7.4M | $10.4M |
| Q4 25 | 5.6% | -7.6% | ||
| Q3 25 | -2.3% | 6.6% | ||
| Q2 25 | 10.1% | -23.5% | ||
| Q1 25 | 6.7% | 15.4% | ||
| Q4 24 | -18.7% | 11.6% | ||
| Q3 24 | -11.8% | 13.0% | ||
| Q2 24 | 3.3% | 36.1% | ||
| Q1 24 | -3.8% | 11.4% |
| Q4 25 | 2.3% | 4.8% | ||
| Q3 25 | 1.2% | 7.7% | ||
| Q2 25 | 0.9% | 11.0% | ||
| Q1 25 | 2.2% | 4.0% | ||
| Q4 24 | 2.4% | 1.4% | ||
| Q3 24 | 1.9% | 2.3% | ||
| Q2 24 | 3.2% | 2.0% | ||
| Q1 24 | 2.6% | 2.7% |
| Q4 25 | — | -0.50× | ||
| Q3 25 | — | 1.63× | ||
| Q2 25 | — | -1.00× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.79× | ||
| Q3 24 | -1.79× | — | ||
| Q2 24 | — | 3.21× | ||
| Q1 24 | -0.80× | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CVGI
| Global Seating | $70.7M | 46% |
| Global Electrical Systems | $49.7M | 32% |
| Trim Systems And Components | $34.4M | 22% |
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
