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Side-by-side financial comparison of Hippo Holdings Inc. (HIPO) 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 $120.4M, roughly 1.2× Hippo Holdings Inc.). Shoals Technologies Group, Inc. runs the higher net margin — 5.5% vs 5.0%, a 0.5% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs 18.2%). Hippo Holdings Inc. produced more free cash flow last quarter ($9.1M vs $-11.3M). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs 18.9%).
Hippo Valley Estate is a sugar estate found near the town of Chiredzi in Chiredzi District of southeastern Zimbabwe, on the Runde River near the border with Mozambique.
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.
HIPO vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $120.4M | $148.3M |
| Net Profit | $6.0M | $8.1M |
| Gross Margin | — | 31.6% |
| Operating Margin | 5.6% | 11.7% |
| Net Margin | 5.0% | 5.5% |
| Revenue YoY | 18.2% | 38.6% |
| Net Profit YoY | -86.4% | 3.9% |
| EPS (diluted) | $0.31 | $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 | $120.4M | $148.3M | ||
| Q3 25 | $120.6M | $135.8M | ||
| Q2 25 | $117.3M | $110.8M | ||
| Q1 25 | $110.3M | $80.4M | ||
| Q4 24 | $101.9M | $107.0M | ||
| Q3 24 | $95.5M | $102.2M | ||
| Q2 24 | $89.6M | $99.2M | ||
| Q1 24 | $85.1M | $90.8M |
| Q4 25 | $6.0M | $8.1M | ||
| Q3 25 | $98.1M | $11.9M | ||
| Q2 25 | $1.3M | $13.9M | ||
| Q1 25 | $-47.7M | $-282.0K | ||
| Q4 24 | $44.2M | $7.8M | ||
| Q3 24 | $-8.5M | $-267.0K | ||
| Q2 24 | $-40.5M | $11.8M | ||
| Q1 24 | $-35.7M | $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 | 5.6% | 11.7% | ||
| Q3 25 | 81.3% | 13.7% | ||
| Q2 25 | 3.4% | 14.4% | ||
| Q1 25 | -41.3% | 5.4% | ||
| Q4 24 | 46.3% | 15.4% | ||
| Q3 24 | -5.4% | 4.4% | ||
| Q2 24 | -40.7% | 18.7% | ||
| Q1 24 | -38.7% | 12.8% |
| Q4 25 | 5.0% | 5.5% | ||
| Q3 25 | 81.3% | 8.7% | ||
| Q2 25 | 1.1% | 12.5% | ||
| Q1 25 | -43.2% | -0.4% | ||
| Q4 24 | 43.4% | 7.3% | ||
| Q3 24 | -8.9% | -0.3% | ||
| Q2 24 | -45.2% | 11.9% | ||
| Q1 24 | -42.0% | 5.3% |
| Q4 25 | $0.31 | $0.05 | ||
| Q3 25 | $3.77 | $0.07 | ||
| Q2 25 | $0.05 | $0.08 | ||
| Q1 25 | $-1.91 | $0.00 | ||
| Q4 24 | $1.81 | $0.04 | ||
| Q3 24 | $-0.34 | $0.00 | ||
| Q2 24 | $-1.64 | $0.07 | ||
| Q1 24 | $-1.47 | $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 | $218.3M | $7.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $436.1M | $600.0M |
| Total Assets | $1.9B | $904.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $218.3M | $7.3M | ||
| Q3 25 | $247.7M | $8.6M | ||
| Q2 25 | $198.9M | $4.7M | ||
| Q1 25 | $140.9M | $35.6M | ||
| Q4 24 | $197.6M | $23.5M | ||
| Q3 24 | $191.2M | $11.1M | ||
| Q2 24 | $175.9M | $3.2M | ||
| Q1 24 | $223.4M | $15.2M |
| Q4 25 | — | — | ||
| 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 | $436.1M | $600.0M | ||
| Q3 25 | $421.5M | $589.6M | ||
| Q2 25 | $332.5M | $575.4M | ||
| Q1 25 | $322.8M | $558.9M | ||
| Q4 24 | $362.1M | $556.8M | ||
| Q3 24 | $326.4M | $545.2M | ||
| Q2 24 | $322.6M | $544.6M | ||
| Q1 24 | $351.2M | $554.0M |
| Q4 25 | $1.9B | $904.1M | ||
| Q3 25 | $1.9B | $851.8M | ||
| Q2 25 | $1.7B | $795.0M | ||
| Q1 25 | $1.5B | $788.4M | ||
| Q4 24 | $1.5B | $793.1M | ||
| Q3 24 | $1.5B | $801.3M | ||
| Q2 24 | $1.5B | $788.4M | ||
| Q1 24 | $1.5B | $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 | $9.2M | $-4.1M |
| Free Cash FlowOCF − Capex | $9.1M | $-11.3M |
| FCF MarginFCF / Revenue | 7.6% | -7.6% |
| Capex IntensityCapex / Revenue | 0.1% | 4.8% |
| Cash ConversionOCF / Net Profit | 1.53× | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | $14.8M | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $9.2M | $-4.1M | ||
| Q3 25 | $16.9M | $19.4M | ||
| Q2 25 | $24.7M | $-13.8M | ||
| Q1 25 | $-35.6M | $15.6M | ||
| Q4 24 | $47.5M | $14.0M | ||
| Q3 24 | $46.8M | $15.7M | ||
| Q2 24 | $-10.6M | $37.8M | ||
| Q1 24 | $17.7M | $12.9M |
| Q4 25 | $9.1M | $-11.3M | ||
| Q3 25 | $16.8M | $9.0M | ||
| Q2 25 | $24.6M | $-26.0M | ||
| Q1 25 | $-35.7M | $12.3M | ||
| Q4 24 | $47.2M | $12.5M | ||
| Q3 24 | — | $13.3M | ||
| Q2 24 | $-10.7M | $35.8M | ||
| Q1 24 | $17.6M | $10.4M |
| Q4 25 | 7.6% | -7.6% | ||
| Q3 25 | 13.9% | 6.6% | ||
| Q2 25 | 21.0% | -23.5% | ||
| Q1 25 | -32.4% | 15.4% | ||
| Q4 24 | 46.3% | 11.6% | ||
| Q3 24 | — | 13.0% | ||
| Q2 24 | -11.9% | 36.1% | ||
| Q1 24 | 20.7% | 11.4% |
| Q4 25 | 0.1% | 4.8% | ||
| Q3 25 | 0.1% | 7.7% | ||
| Q2 25 | 0.1% | 11.0% | ||
| Q1 25 | 0.1% | 4.0% | ||
| Q4 24 | 0.3% | 1.4% | ||
| Q3 24 | 0.0% | 2.3% | ||
| Q2 24 | 0.1% | 2.0% | ||
| Q1 24 | 0.1% | 2.7% |
| Q4 25 | 1.53× | -0.50× | ||
| Q3 25 | 0.17× | 1.63× | ||
| Q2 25 | 19.00× | -1.00× | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.07× | 1.79× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.21× | ||
| Q1 24 | — | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HIPO
Segment breakdown not available.
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
