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Side-by-side financial comparison of MEDIFAST INC (MED) 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 $75.1M, roughly 2.0× MEDIFAST INC). On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs -36.9%). MEDIFAST INC produced more free cash flow last quarter ($-6.6M vs $-11.3M). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs -34.4%).
Medifast, Inc. is an American nutrition and weight loss company based in Baltimore, Maryland. Medifast produces, distributes, and sells weight loss and health-related products through websites, multi-level marketing, telemarketing, and franchised weight loss clinics.
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.
MED vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $148.3M |
| Net Profit | — | $8.1M |
| Gross Margin | 69.4% | 31.6% |
| Operating Margin | -10.4% | 11.7% |
| Net Margin | — | 5.5% |
| Revenue YoY | -36.9% | 38.6% |
| Net Profit YoY | — | 3.9% |
| EPS (diluted) | $-1.64 | $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 | $75.1M | $148.3M | ||
| Q3 25 | $89.4M | $135.8M | ||
| Q2 25 | $105.6M | $110.8M | ||
| Q1 25 | $115.7M | $80.4M | ||
| Q4 24 | $119.0M | $107.0M | ||
| Q3 24 | $140.2M | $102.2M | ||
| Q2 24 | $168.6M | $99.2M | ||
| Q1 24 | $174.7M | $90.8M |
| Q4 25 | — | $8.1M | ||
| Q3 25 | $-2.3M | $11.9M | ||
| Q2 25 | $2.5M | $13.9M | ||
| Q1 25 | $-772.0K | $-282.0K | ||
| Q4 24 | — | $7.8M | ||
| Q3 24 | $1.1M | $-267.0K | ||
| Q2 24 | $-8.2M | $11.8M | ||
| Q1 24 | $8.3M | $4.8M |
| Q4 25 | 69.4% | 31.6% | ||
| Q3 25 | 69.5% | 37.0% | ||
| Q2 25 | 72.6% | 37.2% | ||
| Q1 25 | 72.8% | 35.0% | ||
| Q4 24 | 74.1% | 37.6% | ||
| Q3 24 | 75.4% | 24.8% | ||
| Q2 24 | 73.2% | 40.3% | ||
| Q1 24 | 72.8% | 40.2% |
| Q4 25 | -10.4% | 11.7% | ||
| Q3 25 | -4.6% | 13.7% | ||
| Q2 25 | -1.0% | 14.4% | ||
| Q1 25 | -1.1% | 5.4% | ||
| Q4 24 | 0.6% | 15.4% | ||
| Q3 24 | 1.5% | 4.4% | ||
| Q2 24 | -4.7% | 18.7% | ||
| Q1 24 | 4.5% | 12.8% |
| Q4 25 | — | 5.5% | ||
| Q3 25 | -2.5% | 8.7% | ||
| Q2 25 | 2.3% | 12.5% | ||
| Q1 25 | -0.7% | -0.4% | ||
| Q4 24 | — | 7.3% | ||
| Q3 24 | 0.8% | -0.3% | ||
| Q2 24 | -4.8% | 11.9% | ||
| Q1 24 | 4.8% | 5.3% |
| Q4 25 | $-1.64 | $0.05 | ||
| Q3 25 | $-0.21 | $0.07 | ||
| Q2 25 | $0.22 | $0.08 | ||
| Q1 25 | $-0.07 | $0.00 | ||
| Q4 24 | $0.08 | $0.04 | ||
| Q3 24 | $0.10 | $0.00 | ||
| Q2 24 | $-0.75 | $0.07 | ||
| Q1 24 | $0.76 | $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 | $167.3M | $7.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $198.9M | $600.0M |
| Total Assets | $248.0M | $904.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $167.3M | $7.3M | ||
| Q3 25 | $173.5M | $8.6M | ||
| Q2 25 | $162.7M | $4.7M | ||
| Q1 25 | $164.6M | $35.6M | ||
| Q4 24 | $162.3M | $23.5M | ||
| Q3 24 | $170.0M | $11.1M | ||
| Q2 24 | $163.5M | $3.2M | ||
| Q1 24 | $156.4M | $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 | $198.9M | $600.0M | ||
| Q3 25 | $214.7M | $589.6M | ||
| Q2 25 | $216.0M | $575.4M | ||
| Q1 25 | $211.0M | $558.9M | ||
| Q4 24 | $210.1M | $556.8M | ||
| Q3 24 | $207.3M | $545.2M | ||
| Q2 24 | $205.3M | $544.6M | ||
| Q1 24 | $211.0M | $554.0M |
| Q4 25 | $248.0M | $904.1M | ||
| Q3 25 | $268.2M | $851.8M | ||
| Q2 25 | $269.3M | $795.0M | ||
| Q1 25 | $280.0M | $788.4M | ||
| Q4 24 | $284.2M | $793.1M | ||
| Q3 24 | $291.2M | $801.3M | ||
| Q2 24 | $293.5M | $788.4M | ||
| Q1 24 | $302.8M | $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 | $-5.3M | $-4.1M |
| Free Cash FlowOCF − Capex | $-6.6M | $-11.3M |
| FCF MarginFCF / Revenue | -8.8% | -7.6% |
| Capex IntensityCapex / Revenue | 1.8% | 4.8% |
| Cash ConversionOCF / Net Profit | — | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | $1.2M | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-5.3M | $-4.1M | ||
| Q3 25 | $12.1M | $19.4M | ||
| Q2 25 | $-3.4M | $-13.8M | ||
| Q1 25 | $3.4M | $15.6M | ||
| Q4 24 | $-4.9M | $14.0M | ||
| Q3 24 | $9.1M | $15.7M | ||
| Q2 24 | $13.1M | $37.8M | ||
| Q1 24 | $7.3M | $12.9M |
| Q4 25 | $-6.6M | $-11.3M | ||
| Q3 25 | $10.8M | $9.0M | ||
| Q2 25 | $-4.8M | $-26.0M | ||
| Q1 25 | $1.9M | $12.3M | ||
| Q4 24 | $-7.2M | $12.5M | ||
| Q3 24 | $7.7M | $13.3M | ||
| Q2 24 | $11.1M | $35.8M | ||
| Q1 24 | $5.4M | $10.4M |
| Q4 25 | -8.8% | -7.6% | ||
| Q3 25 | 12.0% | 6.6% | ||
| Q2 25 | -4.5% | -23.5% | ||
| Q1 25 | 1.6% | 15.4% | ||
| Q4 24 | -6.1% | 11.6% | ||
| Q3 24 | 5.5% | 13.0% | ||
| Q2 24 | 6.6% | 36.1% | ||
| Q1 24 | 3.1% | 11.4% |
| Q4 25 | 1.8% | 4.8% | ||
| Q3 25 | 1.5% | 7.7% | ||
| Q2 25 | 1.3% | 11.0% | ||
| Q1 25 | 1.3% | 4.0% | ||
| Q4 24 | 1.9% | 1.4% | ||
| Q3 24 | 1.0% | 2.3% | ||
| Q2 24 | 1.1% | 2.0% | ||
| Q1 24 | 1.1% | 2.7% |
| Q4 25 | — | -0.50× | ||
| Q3 25 | — | 1.63× | ||
| Q2 25 | -1.36× | -1.00× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.79× | ||
| Q3 24 | 8.04× | — | ||
| Q2 24 | — | 3.21× | ||
| Q1 24 | 0.88× | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MED
Segment breakdown not available.
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
