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Side-by-side financial comparison of Employers Holdings, Inc. (EIG) and Shoals Technologies Group, Inc. (SHLS). Click either name above to swap in a different company.
Employers Holdings, Inc. is the larger business by last-quarter revenue ($170.5M vs $148.3M, roughly 1.1× Shoals Technologies Group, Inc.). On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs -21.3%). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs -11.4%).
Employers Holdings, Inc. is a U.S.-headquartered insurance holding company that specializes in offering workers' compensation insurance and customized risk management services primarily for small and medium-sized enterprises across the United States. It mainly serves clients in low-to-medium hazard industries, helping them mitigate workplace safety risks and meet relevant regulatory requirements for employee protection.
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.
EIG vs SHLS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $170.5M | $148.3M |
| Net Profit | — | $8.1M |
| Gross Margin | — | 31.6% |
| Operating Margin | — | 11.7% |
| Net Margin | — | 5.5% |
| Revenue YoY | -21.3% | 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.
| Q1 26 | $170.5M | — | ||
| Q4 25 | $188.5M | $148.3M | ||
| Q3 25 | $239.3M | $135.8M | ||
| Q2 25 | $246.3M | $110.8M | ||
| Q1 25 | $202.6M | $80.4M | ||
| Q4 24 | $216.6M | $107.0M | ||
| Q3 24 | $224.0M | $102.2M | ||
| Q2 24 | $217.0M | $99.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $8.1M | ||
| Q3 25 | $-8.3M | $11.9M | ||
| Q2 25 | $29.7M | $13.9M | ||
| Q1 25 | $12.8M | $-282.0K | ||
| Q4 24 | — | $7.8M | ||
| Q3 24 | $30.3M | $-267.0K | ||
| Q2 24 | $31.7M | $11.8M |
| Q1 26 | — | — | ||
| 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 | — | — | ||
| Q4 25 | — | 11.7% | ||
| Q3 25 | -4.7% | 13.7% | ||
| Q2 25 | 15.0% | 14.4% | ||
| Q1 25 | 7.8% | 5.4% | ||
| Q4 24 | — | 15.4% | ||
| Q3 24 | 16.4% | 4.4% | ||
| Q2 24 | 18.4% | 18.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | 5.5% | ||
| Q3 25 | -3.5% | 8.7% | ||
| Q2 25 | 12.1% | 12.5% | ||
| Q1 25 | 6.3% | -0.4% | ||
| Q4 24 | — | 7.3% | ||
| Q3 24 | 13.5% | -0.3% | ||
| Q2 24 | 14.6% | 11.9% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.93 | $0.05 | ||
| Q3 25 | $-0.36 | $0.07 | ||
| Q2 25 | $1.23 | $0.08 | ||
| Q1 25 | $0.52 | $0.00 | ||
| Q4 24 | $1.14 | $0.04 | ||
| Q3 24 | $1.21 | $0.00 | ||
| Q2 24 | $1.25 | $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 | $169.9M | $7.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $955.7M | $600.0M |
| Total Assets | $3.4B | $904.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $169.9M | — | ||
| Q4 25 | $169.9M | $7.3M | ||
| Q3 25 | $172.4M | $8.6M | ||
| Q2 25 | $78.1M | $4.7M | ||
| Q1 25 | $100.4M | $35.6M | ||
| Q4 24 | $68.4M | $23.5M | ||
| Q3 24 | $173.9M | $11.1M | ||
| Q2 24 | $126.4M | $3.2M |
| Q1 26 | — | — | ||
| Q4 25 | $19.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $141.8M | ||
| Q4 24 | $0 | $141.8M | ||
| Q3 24 | — | $141.8M | ||
| Q2 24 | — | $146.8M |
| Q1 26 | $955.7M | — | ||
| Q4 25 | $955.7M | $600.0M | ||
| Q3 25 | $1.0B | $589.6M | ||
| Q2 25 | $1.1B | $575.4M | ||
| Q1 25 | $1.1B | $558.9M | ||
| Q4 24 | $1.1B | $556.8M | ||
| Q3 24 | $1.1B | $545.2M | ||
| Q2 24 | $1.0B | $544.6M |
| Q1 26 | $3.4B | — | ||
| Q4 25 | $3.4B | $904.1M | ||
| Q3 25 | $3.5B | $851.8M | ||
| Q2 25 | $3.5B | $795.0M | ||
| Q1 25 | $3.6B | $788.4M | ||
| Q4 24 | $3.5B | $793.1M | ||
| Q3 24 | $3.6B | $801.3M | ||
| Q2 24 | $3.5B | $788.4M |
| Q1 26 | — | — | ||
| Q4 25 | 0.02× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.25× | ||
| Q4 24 | 0.00× | 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 | — | $-4.1M |
| Free Cash FlowOCF − Capex | — | $-11.3M |
| FCF MarginFCF / Revenue | — | -7.6% |
| Capex IntensityCapex / Revenue | — | 4.8% |
| Cash ConversionOCF / Net Profit | — | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $44.7M | $-4.1M | ||
| Q3 25 | $29.4M | $19.4M | ||
| Q2 25 | $0 | $-13.8M | ||
| Q1 25 | $14.6M | $15.6M | ||
| Q4 24 | $76.4M | $14.0M | ||
| Q3 24 | $51.0M | $15.7M | ||
| Q2 24 | $11.7M | $37.8M |
| Q1 26 | — | — | ||
| Q4 25 | $44.6M | $-11.3M | ||
| Q3 25 | — | $9.0M | ||
| Q2 25 | — | $-26.0M | ||
| Q1 25 | — | $12.3M | ||
| Q4 24 | $76.3M | $12.5M | ||
| Q3 24 | — | $13.3M | ||
| Q2 24 | — | $35.8M |
| Q1 26 | — | — | ||
| Q4 25 | 23.7% | -7.6% | ||
| Q3 25 | — | 6.6% | ||
| Q2 25 | — | -23.5% | ||
| Q1 25 | — | 15.4% | ||
| Q4 24 | 35.2% | 11.6% | ||
| Q3 24 | — | 13.0% | ||
| Q2 24 | — | 36.1% |
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 4.8% | ||
| Q3 25 | — | 7.7% | ||
| Q2 25 | — | 11.0% | ||
| Q1 25 | — | 4.0% | ||
| Q4 24 | 0.0% | 1.4% | ||
| Q3 24 | — | 2.3% | ||
| Q2 24 | — | 2.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | -0.50× | ||
| Q3 25 | — | 1.63× | ||
| Q2 25 | 0.00× | -1.00× | ||
| Q1 25 | 1.14× | — | ||
| Q4 24 | — | 1.79× | ||
| Q3 24 | 1.68× | — | ||
| Q2 24 | 0.37× | 3.21× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EIG
Segment breakdown not available.
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
