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Side-by-side financial comparison of LXP Industrial Trust (LXP) 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 $86.7M, roughly 1.7× LXP Industrial Trust). LXP Industrial Trust runs the higher net margin — 33.2% vs 5.5%, a 27.7% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs -14.0%). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs 0.3%).
LXP Industrial Trust is a publicly traded real estate investment trust (REIT) that owns, operates, and invests in high-quality industrial real estate assets, primarily distribution centers, logistics facilities, and light industrial properties across key markets in the United States. Its tenant base covers e-commerce, third-party logistics, and advanced manufacturing sectors, delivering stable long-term returns for its 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.
LXP vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $86.7M | $148.3M |
| Net Profit | $28.8M | $8.1M |
| Gross Margin | 81.5% | 31.6% |
| Operating Margin | 34.6% | 11.7% |
| Net Margin | 33.2% | 5.5% |
| Revenue YoY | -14.0% | 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.
| Q4 25 | $86.7M | $148.3M | ||
| Q3 25 | $86.9M | $135.8M | ||
| Q2 25 | $87.7M | $110.8M | ||
| Q1 25 | $88.9M | $80.4M | ||
| Q4 24 | $100.9M | $107.0M | ||
| Q3 24 | $85.6M | $102.2M | ||
| Q2 24 | $85.8M | $99.2M | ||
| Q1 24 | $86.3M | $90.8M |
| Q4 25 | $28.8M | $8.1M | ||
| Q3 25 | $36.3M | $11.9M | ||
| Q2 25 | $29.1M | $13.9M | ||
| Q1 25 | $19.0M | $-282.0K | ||
| Q4 24 | — | $7.8M | ||
| Q3 24 | $6.3M | $-267.0K | ||
| Q2 24 | $5.4M | $11.8M | ||
| Q1 24 | $-269.0K | $4.8M |
| Q4 25 | 81.5% | 31.6% | ||
| Q3 25 | 82.3% | 37.0% | ||
| Q2 25 | 81.9% | 37.2% | ||
| Q1 25 | 80.7% | 35.0% | ||
| Q4 24 | 85.3% | 37.6% | ||
| Q3 24 | 82.5% | 24.8% | ||
| Q2 24 | 82.0% | 40.3% | ||
| Q1 24 | 82.4% | 40.2% |
| Q4 25 | 34.6% | 11.7% | ||
| Q3 25 | 50.4% | 13.7% | ||
| Q2 25 | 33.7% | 14.4% | ||
| Q1 25 | 21.8% | 5.4% | ||
| Q4 24 | — | 15.4% | ||
| Q3 24 | 7.9% | 4.4% | ||
| Q2 24 | 6.9% | 18.7% | ||
| Q1 24 | 1.0% | 12.8% |
| Q4 25 | 33.2% | 5.5% | ||
| Q3 25 | 41.7% | 8.7% | ||
| Q2 25 | 33.2% | 12.5% | ||
| Q1 25 | 21.4% | -0.4% | ||
| Q4 24 | — | 7.3% | ||
| Q3 24 | 7.4% | -0.3% | ||
| Q2 24 | 6.3% | 11.9% | ||
| Q1 24 | -0.3% | 5.3% |
| Q4 25 | — | $0.05 | ||
| Q3 25 | $0.12 | $0.07 | ||
| Q2 25 | $0.09 | $0.08 | ||
| Q1 25 | $0.06 | $0.00 | ||
| Q4 24 | — | $0.04 | ||
| Q3 24 | $0.02 | $0.00 | ||
| Q2 24 | $0.01 | $0.07 | ||
| Q1 24 | $-0.01 | $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 | $170.4M | $7.3M |
| Total DebtLower is stronger | $1.4B | — |
| Stockholders' EquityBook value | $2.0B | $600.0M |
| Total Assets | $3.5B | $904.1M |
| Debt / EquityLower = less leverage | 0.66× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $170.4M | $7.3M | ||
| Q3 25 | $229.7M | $8.6M | ||
| Q2 25 | $71.0M | $4.7M | ||
| Q1 25 | $70.9M | $35.6M | ||
| Q4 24 | $101.8M | $23.5M | ||
| Q3 24 | $55.0M | $11.1M | ||
| Q2 24 | $48.7M | $3.2M | ||
| Q1 24 | $293.8M | $15.2M |
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.5B | $141.8M | ||
| Q4 24 | $1.6B | $141.8M | ||
| Q3 24 | — | $141.8M | ||
| Q2 24 | — | $146.8M | ||
| Q1 24 | — | $168.8M |
| Q4 25 | $2.0B | $600.0M | ||
| Q3 25 | $2.1B | $589.6M | ||
| Q2 25 | $2.1B | $575.4M | ||
| Q1 25 | $2.1B | $558.9M | ||
| Q4 24 | $2.1B | $556.8M | ||
| Q3 24 | $2.1B | $545.2M | ||
| Q2 24 | $2.1B | $544.6M | ||
| Q1 24 | $2.2B | $554.0M |
| Q4 25 | $3.5B | $904.1M | ||
| Q3 25 | $3.7B | $851.8M | ||
| Q2 25 | $3.7B | $795.0M | ||
| Q1 25 | $3.8B | $788.4M | ||
| Q4 24 | $3.8B | $793.1M | ||
| Q3 24 | $3.9B | $801.3M | ||
| Q2 24 | $3.9B | $788.4M | ||
| Q1 24 | $4.2B | $825.3M |
| Q4 25 | 0.66× | — | ||
| Q3 25 | 0.72× | — | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 0.73× | 0.25× | ||
| Q4 24 | 0.75× | 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 | $188.7M | $-4.1M |
| Free Cash FlowOCF − Capex | — | $-11.3M |
| FCF MarginFCF / Revenue | — | -7.6% |
| Capex IntensityCapex / Revenue | — | 4.8% |
| Cash ConversionOCF / Net Profit | 6.56× | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $188.7M | $-4.1M | ||
| Q3 25 | $63.5M | $19.4M | ||
| Q2 25 | $44.3M | $-13.8M | ||
| Q1 25 | $39.0M | $15.6M | ||
| Q4 24 | $211.2M | $14.0M | ||
| Q3 24 | $64.6M | $15.7M | ||
| Q2 24 | $38.5M | $37.8M | ||
| Q1 24 | $38.9M | $12.9M |
| 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 24 | — | $10.4M |
| 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 24 | — | 11.4% |
| 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 24 | — | 2.7% |
| Q4 25 | 6.56× | -0.50× | ||
| Q3 25 | 1.75× | 1.63× | ||
| Q2 25 | 1.52× | -1.00× | ||
| Q1 25 | 2.05× | — | ||
| Q4 24 | — | 1.79× | ||
| Q3 24 | 10.18× | — | ||
| Q2 24 | 7.09× | 3.21× | ||
| Q1 24 | — | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LXP
Segment breakdown not available.
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
