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Side-by-side financial comparison of INFINITY NATURAL RESOURCES, INC. (INR) 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 $115.5M, roughly 1.2× INFINITY NATURAL RESOURCES, INC.). INFINITY NATURAL RESOURCES, INC. runs the higher net margin — 17.3% vs -0.2%, a 17.5% gap on every dollar of revenue.
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.
INR vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $115.5M | $140.6M |
| Net Profit | $20.0M | $-297.0K |
| Gross Margin | — | 29.2% |
| Operating Margin | 47.0% | 5.5% |
| Net Margin | 17.3% | -0.2% |
| Revenue YoY | — | 74.9% |
| Net Profit YoY | — | -5.3% |
| EPS (diluted) | $1.33 | $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 | $115.5M | $148.3M | ||
| Q3 25 | $78.3M | $135.8M | ||
| Q2 25 | $72.5M | $110.8M | ||
| Q1 25 | $84.2M | $80.4M | ||
| Q4 24 | — | $107.0M | ||
| Q3 24 | — | $102.2M | ||
| Q2 24 | — | $99.2M |
| Q1 26 | — | $-297.0K | ||
| Q4 25 | $20.0M | $8.1M | ||
| Q3 25 | $10.4M | $11.9M | ||
| Q2 25 | $18.0M | $13.9M | ||
| Q1 25 | $-34.6M | $-282.0K | ||
| Q4 24 | — | $7.8M | ||
| Q3 24 | — | $-267.0K | ||
| Q2 24 | — | $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 | 47.0% | 11.7% | ||
| Q3 25 | 30.5% | 13.7% | ||
| Q2 25 | 29.9% | 14.4% | ||
| Q1 25 | -104.5% | 5.4% | ||
| Q4 24 | — | 15.4% | ||
| Q3 24 | — | 4.4% | ||
| Q2 24 | — | 18.7% |
| Q1 26 | — | -0.2% | ||
| Q4 25 | 17.3% | 5.5% | ||
| Q3 25 | 13.3% | 8.7% | ||
| Q2 25 | 24.8% | 12.5% | ||
| Q1 25 | -41.1% | -0.4% | ||
| Q4 24 | — | 7.3% | ||
| Q3 24 | — | -0.3% | ||
| Q2 24 | — | 11.9% |
| Q1 26 | — | $0.00 | ||
| Q4 25 | $1.33 | $0.05 | ||
| Q3 25 | $0.65 | $0.07 | ||
| Q2 25 | $1.18 | $0.08 | ||
| Q1 25 | $-2.27 | $0.00 | ||
| Q4 24 | — | $0.04 | ||
| Q3 24 | — | $0.00 | ||
| Q2 24 | — | $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 | $2.8M | $1.9M |
| Total DebtLower is stronger | $55.0K | — |
| Stockholders' EquityBook value | $307.1M | $601.6M |
| Total Assets | $1.2B | $1.0B |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.9M | ||
| Q4 25 | $2.8M | $7.3M | ||
| Q3 25 | $4.6M | $8.6M | ||
| Q2 25 | $6.3M | $4.7M | ||
| Q1 25 | $4.9M | $35.6M | ||
| Q4 24 | — | $23.5M | ||
| Q3 24 | — | $11.1M | ||
| Q2 24 | — | $3.2M |
| Q1 26 | — | — | ||
| Q4 25 | $55.0K | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $123.0K | $141.8M | ||
| Q4 24 | — | $141.8M | ||
| Q3 24 | — | $141.8M | ||
| Q2 24 | — | $146.8M |
| Q1 26 | — | $601.6M | ||
| Q4 25 | $307.1M | $600.0M | ||
| Q3 25 | $288.6M | $589.6M | ||
| Q2 25 | $10.1M | $575.4M | ||
| Q1 25 | $-52.2M | $558.9M | ||
| Q4 24 | — | $556.8M | ||
| Q3 24 | — | $545.2M | ||
| Q2 24 | — | $544.6M |
| Q1 26 | — | $1.0B | ||
| Q4 25 | $1.2B | $904.1M | ||
| Q3 25 | $1.1B | $851.8M | ||
| Q2 25 | $1.0B | $795.0M | ||
| Q1 25 | $953.9M | $788.4M | ||
| Q4 24 | — | $793.1M | ||
| Q3 24 | — | $801.3M | ||
| Q2 24 | — | $788.4M |
| Q1 26 | — | — | ||
| Q4 25 | 0.00× | — | ||
| 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 | $75.1M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 3.75× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $75.1M | $-4.1M | ||
| Q3 25 | $42.1M | $19.4M | ||
| Q2 25 | $70.4M | $-13.8M | ||
| Q1 25 | $74.2M | $15.6M | ||
| Q4 24 | — | $14.0M | ||
| Q3 24 | — | $15.7M | ||
| Q2 24 | — | $37.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-11.3M | ||
| Q3 25 | — | $9.0M | ||
| Q2 25 | — | $-26.0M | ||
| Q1 25 | — | $12.3M | ||
| Q4 24 | — | $12.5M | ||
| Q3 24 | — | $13.3M | ||
| Q2 24 | — | $35.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | -7.6% | ||
| Q3 25 | — | 6.6% | ||
| Q2 25 | — | -23.5% | ||
| Q1 25 | — | 15.4% | ||
| Q4 24 | — | 11.6% | ||
| Q3 24 | — | 13.0% | ||
| Q2 24 | — | 36.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.8% | ||
| Q3 25 | — | 7.7% | ||
| Q2 25 | — | 11.0% | ||
| Q1 25 | — | 4.0% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 2.3% | ||
| Q2 24 | — | 2.0% |
| Q1 26 | — | — | ||
| Q4 25 | 3.75× | -0.50× | ||
| Q3 25 | 4.04× | 1.63× | ||
| Q2 25 | 3.91× | -1.00× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 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
INR
| Oil Reserves | $54.0M | 47% |
| Natural Gas Reserves | $46.8M | 41% |
| Natural Gas Liquids Reserves | $14.7M | 13% |
SHLS
Segment breakdown not available.
