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Side-by-side financial comparison of FIRST MID BANCSHARES, INC. (FMBH) 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 $88.2M, roughly 1.7× FIRST MID BANCSHARES, INC.). FIRST MID BANCSHARES, INC. runs the higher net margin — 26.8% vs 5.5%, a 21.4% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs 3.4%). FIRST MID BANCSHARES, INC. produced more free cash flow last quarter ($124.0M vs $-11.3M). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs 5.0%).
First Mid Bancshares Inc. is a U.S.-headquartered regional financial services holding company. It provides full-range retail and commercial banking products, wealth management, insurance solutions, and agricultural financing, mainly serving individual consumers, small and medium-sized enterprises, and agricultural clients across multiple Midwestern states including Illinois, Missouri, and Indiana.
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.
FMBH vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $88.2M | $148.3M |
| Net Profit | $23.7M | $8.1M |
| Gross Margin | — | 31.6% |
| Operating Margin | 34.0% | 11.7% |
| Net Margin | 26.8% | 5.5% |
| Revenue YoY | 3.4% | 38.6% |
| Net Profit YoY | 23.5% | 3.9% |
| EPS (diluted) | $0.98 | $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 | $88.2M | $148.3M | ||
| Q3 25 | $89.3M | $135.8M | ||
| Q2 25 | $87.5M | $110.8M | ||
| Q1 25 | $84.3M | $80.4M | ||
| Q4 24 | $85.3M | $107.0M | ||
| Q3 24 | $80.6M | $102.2M | ||
| Q2 24 | $79.2M | $99.2M | ||
| Q1 24 | $79.9M | $90.8M |
| Q4 25 | $23.7M | $8.1M | ||
| Q3 25 | $22.5M | $11.9M | ||
| Q2 25 | $23.4M | $13.9M | ||
| Q1 25 | $22.2M | $-282.0K | ||
| Q4 24 | $19.2M | $7.8M | ||
| Q3 24 | $19.5M | $-267.0K | ||
| Q2 24 | $19.7M | $11.8M | ||
| Q1 24 | $20.5M | $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 | 34.0% | 11.7% | ||
| Q3 25 | 32.2% | 13.7% | ||
| Q2 25 | 34.4% | 14.4% | ||
| Q1 25 | 33.4% | 5.4% | ||
| Q4 24 | 29.7% | 15.4% | ||
| Q3 24 | 31.5% | 4.4% | ||
| Q2 24 | 33.7% | 18.7% | ||
| Q1 24 | 33.7% | 12.8% |
| Q4 25 | 26.8% | 5.5% | ||
| Q3 25 | 25.2% | 8.7% | ||
| Q2 25 | 26.8% | 12.5% | ||
| Q1 25 | 26.3% | -0.4% | ||
| Q4 24 | 22.5% | 7.3% | ||
| Q3 24 | 24.2% | -0.3% | ||
| Q2 24 | 24.9% | 11.9% | ||
| Q1 24 | 25.6% | 5.3% |
| Q4 25 | $0.98 | $0.05 | ||
| Q3 25 | $0.94 | $0.07 | ||
| Q2 25 | $0.98 | $0.08 | ||
| Q1 25 | $0.93 | $0.00 | ||
| Q4 24 | $0.81 | $0.04 | ||
| Q3 24 | $0.81 | $0.00 | ||
| Q2 24 | $0.82 | $0.07 | ||
| Q1 24 | $0.86 | $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 | $354.5M | — |
| Stockholders' EquityBook value | $958.7M | $600.0M |
| Total Assets | $8.0B | $904.1M |
| Debt / EquityLower = less leverage | 0.37× | — |
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 | $354.5M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $141.8M | ||
| Q4 24 | — | $141.8M | ||
| Q3 24 | — | $141.8M | ||
| Q2 24 | — | $146.8M | ||
| Q1 24 | — | $168.8M |
| Q4 25 | $958.7M | $600.0M | ||
| Q3 25 | $932.2M | $589.6M | ||
| Q2 25 | $894.1M | $575.4M | ||
| Q1 25 | $870.9M | $558.9M | ||
| Q4 24 | $846.4M | $556.8M | ||
| Q3 24 | $858.5M | $545.2M | ||
| Q2 24 | $813.6M | $544.6M | ||
| Q1 24 | $798.0M | $554.0M |
| Q4 25 | $8.0B | $904.1M | ||
| Q3 25 | $7.8B | $851.8M | ||
| Q2 25 | $7.7B | $795.0M | ||
| Q1 25 | $7.6B | $788.4M | ||
| Q4 24 | $7.5B | $793.1M | ||
| Q3 24 | $7.6B | $801.3M | ||
| Q2 24 | $7.6B | $788.4M | ||
| Q1 24 | $7.7B | $825.3M |
| Q4 25 | 0.37× | — | ||
| 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 | $130.9M | $-4.1M |
| Free Cash FlowOCF − Capex | $124.0M | $-11.3M |
| FCF MarginFCF / Revenue | 140.6% | -7.6% |
| Capex IntensityCapex / Revenue | 7.8% | 4.8% |
| Cash ConversionOCF / Net Profit | 5.53× | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | $207.9M | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $130.9M | $-4.1M | ||
| Q3 25 | $33.0M | $19.4M | ||
| Q2 25 | $7.7M | $-13.8M | ||
| Q1 25 | $47.9M | $15.6M | ||
| Q4 24 | $124.4M | $14.0M | ||
| Q3 24 | $33.1M | $15.7M | ||
| Q2 24 | $24.0M | $37.8M | ||
| Q1 24 | $29.0M | $12.9M |
| Q4 25 | $124.0M | $-11.3M | ||
| Q3 25 | $31.9M | $9.0M | ||
| Q2 25 | $6.0M | $-26.0M | ||
| Q1 25 | $46.0M | $12.3M | ||
| Q4 24 | $119.5M | $12.5M | ||
| Q3 24 | $32.0M | $13.3M | ||
| Q2 24 | $22.9M | $35.8M | ||
| Q1 24 | $27.6M | $10.4M |
| Q4 25 | 140.6% | -7.6% | ||
| Q3 25 | 35.8% | 6.6% | ||
| Q2 25 | 6.8% | -23.5% | ||
| Q1 25 | 54.5% | 15.4% | ||
| Q4 24 | 140.0% | 11.6% | ||
| Q3 24 | 39.7% | 13.0% | ||
| Q2 24 | 28.9% | 36.1% | ||
| Q1 24 | 34.5% | 11.4% |
| Q4 25 | 7.8% | 4.8% | ||
| Q3 25 | 1.2% | 7.7% | ||
| Q2 25 | 2.0% | 11.0% | ||
| Q1 25 | 2.3% | 4.0% | ||
| Q4 24 | 5.8% | 1.4% | ||
| Q3 24 | 1.4% | 2.3% | ||
| Q2 24 | 1.4% | 2.0% | ||
| Q1 24 | 1.9% | 2.7% |
| Q4 25 | 5.53× | -0.50× | ||
| Q3 25 | 1.47× | 1.63× | ||
| Q2 25 | 0.33× | -1.00× | ||
| Q1 25 | 2.16× | — | ||
| Q4 24 | 6.49× | 1.79× | ||
| Q3 24 | 1.70× | — | ||
| Q2 24 | 1.21× | 3.21× | ||
| Q1 24 | 1.42× | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FMBH
Segment breakdown not available.
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
