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Side-by-side financial comparison of Janus International Group, Inc. (JBI) and Shoals Technologies Group, Inc. (SHLS). Click either name above to swap in a different company.
Janus International Group, Inc. is the larger business by last-quarter revenue ($219.3M vs $148.3M, roughly 1.5× Shoals Technologies Group, Inc.). Janus International Group, Inc. runs the higher net margin — 6.9% vs 5.5%, a 1.5% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs -4.7%). Janus International Group, Inc. produced more free cash flow last quarter ($8.3M vs $-11.3M). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs -8.8%).
Janus Henderson is a British-American global asset management group headquartered in the City of London, United Kingdom. It offers a range of financial products to individuals, intermediary advisors, and institutional investors globally under the trade name Janus Henderson Investors.
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.
JBI vs SHLS — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $219.3M | $148.3M |
| Net Profit | $15.2M | $8.1M |
| Gross Margin | 39.1% | 31.6% |
| Operating Margin | 13.4% | 11.7% |
| Net Margin | 6.9% | 5.5% |
| Revenue YoY | -4.7% | 38.6% |
| Net Profit YoY | 28.8% | 3.9% |
| EPS (diluted) | $0.11 | $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 | — | $148.3M | ||
| Q3 25 | $219.3M | $135.8M | ||
| Q2 25 | $228.1M | $110.8M | ||
| Q1 25 | $210.5M | $80.4M | ||
| Q4 24 | $230.8M | $107.0M | ||
| Q3 24 | $230.1M | $102.2M | ||
| Q2 24 | $248.4M | $99.2M | ||
| Q1 24 | $254.5M | $90.8M |
| Q4 25 | — | $8.1M | ||
| Q3 25 | $15.2M | $11.9M | ||
| Q2 25 | $20.7M | $13.9M | ||
| Q1 25 | $10.8M | $-282.0K | ||
| Q4 24 | $300.0K | $7.8M | ||
| Q3 24 | $11.8M | $-267.0K | ||
| Q2 24 | $27.6M | $11.8M | ||
| Q1 24 | $30.7M | $4.8M |
| Q4 25 | — | 31.6% | ||
| Q3 25 | 39.1% | 37.0% | ||
| Q2 25 | 40.9% | 37.2% | ||
| Q1 25 | 38.9% | 35.0% | ||
| Q4 24 | 37.8% | 37.6% | ||
| Q3 24 | 39.6% | 24.8% | ||
| Q2 24 | 43.9% | 40.3% | ||
| Q1 24 | 43.4% | 40.2% |
| Q4 25 | — | 11.7% | ||
| Q3 25 | 13.4% | 13.7% | ||
| Q2 25 | 15.8% | 14.4% | ||
| Q1 25 | 12.0% | 5.4% | ||
| Q4 24 | 5.5% | 15.4% | ||
| Q3 24 | 11.6% | 4.4% | ||
| Q2 24 | 20.8% | 18.7% | ||
| Q1 24 | 21.8% | 12.8% |
| Q4 25 | — | 5.5% | ||
| Q3 25 | 6.9% | 8.7% | ||
| Q2 25 | 9.1% | 12.5% | ||
| Q1 25 | 5.1% | -0.4% | ||
| Q4 24 | 0.1% | 7.3% | ||
| Q3 24 | 5.1% | -0.3% | ||
| Q2 24 | 11.1% | 11.9% | ||
| Q1 24 | 12.1% | 5.3% |
| Q4 25 | — | $0.05 | ||
| Q3 25 | $0.11 | $0.07 | ||
| Q2 25 | $0.15 | $0.08 | ||
| Q1 25 | $0.08 | $0.00 | ||
| Q4 24 | $0.01 | $0.04 | ||
| Q3 24 | $0.08 | $0.00 | ||
| Q2 24 | $0.19 | $0.07 | ||
| Q1 24 | $0.21 | $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 | — | — |
| Stockholders' EquityBook value | $560.8M | $600.0M |
| Total Assets | $1.3B | $904.1M |
| Debt / EquityLower = less leverage | — | — |
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 | $102.1M | $11.1M | ||
| Q2 24 | $110.1M | $3.2M | ||
| Q1 24 | — | $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 | — | $600.0M | ||
| Q3 25 | $560.8M | $589.6M | ||
| Q2 25 | $543.8M | $575.4M | ||
| Q1 25 | $526.8M | $558.9M | ||
| Q4 24 | $518.8M | $556.8M | ||
| Q3 24 | $526.6M | $545.2M | ||
| Q2 24 | $556.3M | $544.6M | ||
| Q1 24 | $535.4M | $554.0M |
| Q4 25 | — | $904.1M | ||
| Q3 25 | $1.3B | $851.8M | ||
| Q2 25 | $1.3B | $795.0M | ||
| Q1 25 | $1.3B | $788.4M | ||
| Q4 24 | $1.3B | $793.1M | ||
| Q3 24 | $1.3B | $801.3M | ||
| Q2 24 | $1.3B | $788.4M | ||
| Q1 24 | $1.4B | $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 | $15.0M | $-4.1M |
| Free Cash FlowOCF − Capex | $8.3M | $-11.3M |
| FCF MarginFCF / Revenue | 3.8% | -7.6% |
| Capex IntensityCapex / Revenue | 3.1% | 4.8% |
| Cash ConversionOCF / Net Profit | 0.99× | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | $140.1M | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-4.1M | ||
| Q3 25 | $15.0M | $19.4M | ||
| Q2 25 | $51.4M | $-13.8M | ||
| Q1 25 | $48.3M | $15.6M | ||
| Q4 24 | $51.4M | $14.0M | ||
| Q3 24 | $43.0M | $15.7M | ||
| Q2 24 | $31.0M | $37.8M | ||
| Q1 24 | $28.6M | $12.9M |
| Q4 25 | — | $-11.3M | ||
| Q3 25 | $8.3M | $9.0M | ||
| Q2 25 | $44.6M | $-26.0M | ||
| Q1 25 | $41.9M | $12.3M | ||
| Q4 24 | $45.3M | $12.5M | ||
| Q3 24 | $39.3M | $13.3M | ||
| Q2 24 | $25.3M | $35.8M | ||
| Q1 24 | $24.0M | $10.4M |
| Q4 25 | — | -7.6% | ||
| Q3 25 | 3.8% | 6.6% | ||
| Q2 25 | 19.6% | -23.5% | ||
| Q1 25 | 19.9% | 15.4% | ||
| Q4 24 | 19.6% | 11.6% | ||
| Q3 24 | 17.1% | 13.0% | ||
| Q2 24 | 10.2% | 36.1% | ||
| Q1 24 | 9.4% | 11.4% |
| Q4 25 | — | 4.8% | ||
| Q3 25 | 3.1% | 7.7% | ||
| Q2 25 | 3.0% | 11.0% | ||
| Q1 25 | 3.0% | 4.0% | ||
| Q4 24 | 2.6% | 1.4% | ||
| Q3 24 | 1.6% | 2.3% | ||
| Q2 24 | 2.3% | 2.0% | ||
| Q1 24 | 1.8% | 2.7% |
| Q4 25 | — | -0.50× | ||
| Q3 25 | 0.99× | 1.63× | ||
| Q2 25 | 2.48× | -1.00× | ||
| Q1 25 | 4.47× | — | ||
| Q4 24 | 171.33× | 1.79× | ||
| Q3 24 | 3.64× | — | ||
| Q2 24 | 1.12× | 3.21× | ||
| Q1 24 | 0.93× | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
JBI
| Self Storage New Construction | $72.3M | 33% |
| Commercial And Others | $65.5M | 30% |
| Self Storage R3 | $54.0M | 25% |
| Transferred At Point In Time | $15.5M | 7% |
| Transferred Over Time | $12.8M | 6% |
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
