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Side-by-side financial comparison of Emerald Holding, Inc. (EEX) 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 ($140.6M vs $132.7M, roughly 1.1× Emerald Holding, Inc.). Shoals Technologies Group, Inc. runs the higher net margin — -0.2% vs -22.8%, a 22.5% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (74.9% vs 24.3%). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (19.0% CAGR vs -0.3%).
TVS Emerald Haven Realty Limited is an Indian real estate development company headquartered in Chennai, Tamil Nadu. A subsidiary of TVS Holdings, it specializes in sustainable residential communities and urban development projects.
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.
EEX vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $132.7M | $140.6M |
| Net Profit | $-30.2M | $-297.0K |
| Gross Margin | — | 29.2% |
| Operating Margin | -11.8% | 5.5% |
| Net Margin | -22.8% | -0.2% |
| Revenue YoY | 24.3% | 74.9% |
| Net Profit YoY | -692.2% | -5.3% |
| EPS (diluted) | $-0.15 | $0.00 |
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 | — | $140.6M | ||
| Q4 25 | $132.7M | $148.3M | ||
| Q3 25 | $77.5M | $135.8M | ||
| Q2 25 | $105.5M | $110.8M | ||
| Q1 25 | $147.7M | $80.4M | ||
| Q4 24 | $106.8M | $107.0M | ||
| Q3 24 | $72.6M | $102.2M | ||
| Q2 24 | $86.0M | $99.2M |
| Q1 26 | — | $-297.0K | ||
| Q4 25 | $-30.2M | $8.1M | ||
| Q3 25 | $-14.4M | $11.9M | ||
| Q2 25 | $-1.4M | $13.9M | ||
| Q1 25 | $15.3M | $-282.0K | ||
| Q4 24 | $5.1M | $7.8M | ||
| Q3 24 | $-11.1M | $-267.0K | ||
| Q2 24 | $-2.8M | $11.8M |
| Q1 26 | — | 29.2% | ||
| 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 | — | 5.5% | ||
| Q4 25 | -11.8% | 11.7% | ||
| Q3 25 | -10.1% | 13.7% | ||
| Q2 25 | 9.7% | 14.4% | ||
| Q1 25 | 24.2% | 5.4% | ||
| Q4 24 | 19.5% | 15.4% | ||
| Q3 24 | -6.5% | 4.4% | ||
| Q2 24 | 7.4% | 18.7% |
| Q1 26 | — | -0.2% | ||
| Q4 25 | -22.8% | 5.5% | ||
| Q3 25 | -18.6% | 8.7% | ||
| Q2 25 | -1.3% | 12.5% | ||
| Q1 25 | 10.4% | -0.4% | ||
| Q4 24 | 4.8% | 7.3% | ||
| Q3 24 | -15.3% | -0.3% | ||
| Q2 24 | -3.3% | 11.9% |
| Q1 26 | — | $0.00 | ||
| Q4 25 | $-0.15 | $0.05 | ||
| Q3 25 | $-0.07 | $0.07 | ||
| Q2 25 | $-0.01 | $0.08 | ||
| Q1 25 | $0.08 | $0.00 | ||
| Q4 24 | $0.01 | $0.04 | ||
| Q3 24 | $-0.05 | $0.00 | ||
| Q2 24 | $-0.03 | $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 | $100.9M | $1.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $338.8M | $601.6M |
| Total Assets | $1.2B | $1.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.9M | ||
| Q4 25 | $100.9M | $7.3M | ||
| Q3 25 | $95.4M | $8.6M | ||
| Q2 25 | $156.4M | $4.7M | ||
| Q1 25 | $276.8M | $35.6M | ||
| Q4 24 | $194.8M | $23.5M | ||
| Q3 24 | $188.9M | $11.1M | ||
| Q2 24 | $193.2M | $3.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $141.8M | ||
| Q4 24 | — | $141.8M | ||
| Q3 24 | — | $141.8M | ||
| Q2 24 | — | $146.8M |
| Q1 26 | — | $601.6M | ||
| Q4 25 | $338.8M | $600.0M | ||
| Q3 25 | $369.5M | $589.6M | ||
| Q2 25 | $389.4M | $575.4M | ||
| Q1 25 | $392.1M | $558.9M | ||
| Q4 24 | $385.9M | $556.8M | ||
| Q3 24 | $391.1M | $545.2M | ||
| Q2 24 | $407.6M | $544.6M |
| Q1 26 | — | $1.0B | ||
| Q4 25 | $1.2B | $904.1M | ||
| Q3 25 | $1.2B | $851.8M | ||
| Q2 25 | $1.2B | $795.0M | ||
| Q1 25 | $1.2B | $788.4M | ||
| Q4 24 | $1.0B | $793.1M | ||
| Q3 24 | $1.1B | $801.3M | ||
| Q2 24 | $1.1B | $788.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.25× | ||
| Q4 24 | — | 0.25× | ||
| Q3 24 | — | 0.26× | ||
| Q2 24 | — | 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 | $12.3M | — |
| Free Cash FlowOCF − Capex | $11.7M | — |
| FCF MarginFCF / Revenue | 8.8% | — |
| Capex IntensityCapex / Revenue | 0.5% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $41.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $12.3M | $-4.1M | ||
| Q3 25 | $1.8M | $19.4M | ||
| Q2 25 | $15.9M | $-13.8M | ||
| Q1 25 | $12.6M | $15.6M | ||
| Q4 24 | $20.6M | $14.0M | ||
| Q3 24 | $9.1M | $15.7M | ||
| Q2 24 | $9.8M | $37.8M |
| Q1 26 | — | — | ||
| Q4 25 | $11.7M | $-11.3M | ||
| Q3 25 | $1.5M | $9.0M | ||
| Q2 25 | $15.8M | $-26.0M | ||
| Q1 25 | $12.4M | $12.3M | ||
| Q4 24 | $19.9M | $12.5M | ||
| Q3 24 | $9.0M | $13.3M | ||
| Q2 24 | $9.6M | $35.8M |
| Q1 26 | — | — | ||
| Q4 25 | 8.8% | -7.6% | ||
| Q3 25 | 1.9% | 6.6% | ||
| Q2 25 | 15.0% | -23.5% | ||
| Q1 25 | 8.4% | 15.4% | ||
| Q4 24 | 18.6% | 11.6% | ||
| Q3 24 | 12.4% | 13.0% | ||
| Q2 24 | 11.2% | 36.1% |
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 4.8% | ||
| Q3 25 | 0.4% | 7.7% | ||
| Q2 25 | 0.1% | 11.0% | ||
| Q1 25 | 0.1% | 4.0% | ||
| Q4 24 | 0.7% | 1.4% | ||
| Q3 24 | 0.1% | 2.3% | ||
| Q2 24 | 0.2% | 2.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | -0.50× | ||
| Q3 25 | — | 1.63× | ||
| Q2 25 | — | -1.00× | ||
| Q1 25 | 0.82× | — | ||
| Q4 24 | 4.04× | 1.79× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.21× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EEX
| Connections Segment | $121.9M | 92% |
| Commerce Segment | $5.5M | 4% |
| Content | $5.3M | 4% |
SHLS
Segment breakdown not available.
