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Side-by-side financial comparison of DENNY'S Corp (DENN) 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 $113.2M, roughly 1.3× DENNY'S Corp). Shoals Technologies Group, Inc. runs the higher net margin — 5.5% vs 0.6%, a 4.9% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs 1.3%). DENNY'S Corp produced more free cash flow last quarter ($16.0M vs $-11.3M). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs -0.9%).
Denny's is an American table service diner-style restaurant chain. It operates over 1,400 restaurants in the United States, Canada, México, Puerto Rico, and several other international locations.
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.
DENN vs SHLS — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $113.2M | $148.3M |
| Net Profit | $632.0K | $8.1M |
| Gross Margin | — | 31.6% |
| Operating Margin | 9.2% | 11.7% |
| Net Margin | 0.6% | 5.5% |
| Revenue YoY | 1.3% | 38.6% |
| Net Profit YoY | -90.3% | 3.9% |
| EPS (diluted) | $0.01 | $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 | — | $148.3M | ||
| Q3 25 | $113.2M | $135.8M | ||
| Q2 25 | $117.7M | $110.8M | ||
| Q1 25 | $111.6M | $80.4M | ||
| Q4 24 | $114.7M | $107.0M | ||
| Q3 24 | $111.8M | $102.2M | ||
| Q2 24 | $115.9M | $99.2M | ||
| Q1 24 | $110.0M | $90.8M |
| Q4 25 | — | $8.1M | ||
| Q3 25 | $632.0K | $11.9M | ||
| Q2 25 | $2.5M | $13.9M | ||
| Q1 25 | $326.0K | $-282.0K | ||
| Q4 24 | $6.8M | $7.8M | ||
| Q3 24 | $6.5M | $-267.0K | ||
| Q2 24 | $3.6M | $11.8M | ||
| Q1 24 | $4.7M | $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 | — | 11.7% | ||
| Q3 25 | 9.2% | 13.7% | ||
| Q2 25 | 7.3% | 14.4% | ||
| Q1 25 | 4.7% | 5.4% | ||
| Q4 24 | 12.6% | 15.4% | ||
| Q3 24 | 10.5% | 4.4% | ||
| Q2 24 | 7.9% | 18.7% | ||
| Q1 24 | 9.1% | 12.8% |
| Q4 25 | — | 5.5% | ||
| Q3 25 | 0.6% | 8.7% | ||
| Q2 25 | 2.1% | 12.5% | ||
| Q1 25 | 0.3% | -0.4% | ||
| Q4 24 | 5.9% | 7.3% | ||
| Q3 24 | 5.8% | -0.3% | ||
| Q2 24 | 3.1% | 11.9% | ||
| Q1 24 | 4.3% | 5.3% |
| Q4 25 | — | $0.05 | ||
| Q3 25 | $0.01 | $0.07 | ||
| Q2 25 | $0.05 | $0.08 | ||
| Q1 25 | $0.01 | $0.00 | ||
| Q4 24 | $0.13 | $0.04 | ||
| Q3 24 | $0.12 | $0.00 | ||
| Q2 24 | $0.07 | $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 | — | — |
| Stockholders' EquityBook value | $-32.7M | $600.0M |
| Total Assets | $502.9M | $904.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $7.3M | ||
| Q3 25 | — | $8.6M | ||
| Q2 25 | — | $4.7M | ||
| Q1 25 | $1.1M | $35.6M | ||
| Q4 24 | $100.0K | $23.5M | ||
| Q3 24 | $2.9M | $11.1M | ||
| Q2 24 | $2.8M | $3.2M | ||
| Q1 24 | $2.8M | $15.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $141.8M | ||
| Q4 24 | $270.6M | $141.8M | ||
| Q3 24 | — | $141.8M | ||
| Q2 24 | — | $146.8M | ||
| Q1 24 | — | $168.8M |
| Q4 25 | — | $600.0M | ||
| Q3 25 | $-32.7M | $589.6M | ||
| Q2 25 | $-34.6M | $575.4M | ||
| Q1 25 | $-36.4M | $558.9M | ||
| Q4 24 | $-34.0M | $556.8M | ||
| Q3 24 | $-54.5M | $545.2M | ||
| Q2 24 | $-53.2M | $544.6M | ||
| Q1 24 | $-55.7M | $554.0M |
| Q4 25 | — | $904.1M | ||
| Q3 25 | $502.9M | $851.8M | ||
| Q2 25 | $491.1M | $795.0M | ||
| Q1 25 | $488.1M | $788.4M | ||
| Q4 24 | $496.3M | $793.1M | ||
| Q3 24 | $461.6M | $801.3M | ||
| Q2 24 | $459.9M | $788.4M | ||
| Q1 24 | $460.4M | $825.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.25× | ||
| Q4 24 | — | 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 | $16.0M | $-4.1M |
| Free Cash FlowOCF − Capex | $16.0M | $-11.3M |
| FCF MarginFCF / Revenue | 14.1% | -7.6% |
| Capex IntensityCapex / Revenue | 0.0% | 4.8% |
| Cash ConversionOCF / Net Profit | 25.28× | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-4.1M | ||
| Q3 25 | $16.0M | $19.4M | ||
| Q2 25 | $9.4M | $-13.8M | ||
| Q1 25 | $5.0M | $15.6M | ||
| Q4 24 | $8.5M | $14.0M | ||
| Q3 24 | $6.6M | $15.7M | ||
| Q2 24 | $14.2M | $37.8M | ||
| Q1 24 | $215.0K | $12.9M |
| Q4 25 | — | $-11.3M | ||
| Q3 25 | $16.0M | $9.0M | ||
| Q2 25 | — | $-26.0M | ||
| Q1 25 | — | $12.3M | ||
| Q4 24 | — | $12.5M | ||
| Q3 24 | — | $13.3M | ||
| Q2 24 | — | $35.8M | ||
| Q1 24 | — | $10.4M |
| Q4 25 | — | -7.6% | ||
| Q3 25 | 14.1% | 6.6% | ||
| Q2 25 | — | -23.5% | ||
| Q1 25 | — | 15.4% | ||
| Q4 24 | — | 11.6% | ||
| Q3 24 | — | 13.0% | ||
| Q2 24 | — | 36.1% | ||
| Q1 24 | — | 11.4% |
| Q4 25 | — | 4.8% | ||
| Q3 25 | 0.0% | 7.7% | ||
| Q2 25 | — | 11.0% | ||
| Q1 25 | — | 4.0% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | 0.0% | 2.3% | ||
| Q2 24 | — | 2.0% | ||
| Q1 24 | — | 2.7% |
| Q4 25 | — | -0.50× | ||
| Q3 25 | 25.28× | 1.63× | ||
| Q2 25 | 3.79× | -1.00× | ||
| Q1 25 | 15.38× | — | ||
| Q4 24 | 1.26× | 1.79× | ||
| Q3 24 | 1.01× | — | ||
| Q2 24 | 3.97× | 3.21× | ||
| Q1 24 | 0.05× | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DENN
| Franchisor Owned Outlet | $57.4M | 51% |
| Royalty | $27.7M | 25% |
| Advertising | $18.6M | 16% |
| Occupancy | $7.7M | 7% |
| Initial And Other Fees | $1.7M | 1% |
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
