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Side-by-side financial comparison of MONRO, INC. (MNRO) and Shoals Technologies Group, Inc. (SHLS). Click either name above to swap in a different company.
MONRO, INC. is the larger business by last-quarter revenue ($293.4M vs $148.3M, roughly 2.0× Shoals Technologies Group, Inc.). Shoals Technologies Group, Inc. runs the higher net margin — 5.5% vs 3.8%, a 1.7% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs -4.0%). MONRO, 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 -2.7%).
Monro, Inc. is an automotive services company founded and headquartered in Rochester, New York, U.S. As of 2025, Monro has 1,260 locations making them the second-largest automotive services company in North America after Driven Brands by number of locations and by 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.
MNRO vs SHLS — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $293.4M | $148.3M |
| Net Profit | $11.1M | $8.1M |
| Gross Margin | 34.9% | 31.6% |
| Operating Margin | 6.3% | 11.7% |
| Net Margin | 3.8% | 5.5% |
| Revenue YoY | -4.0% | 38.6% |
| Net Profit YoY | 143.1% | 3.9% |
| EPS (diluted) | $0.35 | $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 | $293.4M | $148.3M | ||
| Q3 25 | $288.9M | $135.8M | ||
| Q2 25 | $301.0M | $110.8M | ||
| Q1 25 | $295.0M | $80.4M | ||
| Q4 24 | $305.8M | $107.0M | ||
| Q3 24 | $301.4M | $102.2M | ||
| Q2 24 | $293.2M | $99.2M | ||
| Q1 24 | $310.1M | $90.8M |
| Q4 25 | $11.1M | $8.1M | ||
| Q3 25 | $5.7M | $11.9M | ||
| Q2 25 | $-8.1M | $13.9M | ||
| Q1 25 | $-21.3M | $-282.0K | ||
| Q4 24 | $4.6M | $7.8M | ||
| Q3 24 | $5.6M | $-267.0K | ||
| Q2 24 | $5.9M | $11.8M | ||
| Q1 24 | $3.7M | $4.8M |
| Q4 25 | 34.9% | 31.6% | ||
| Q3 25 | 35.7% | 37.0% | ||
| Q2 25 | 35.5% | 37.2% | ||
| Q1 25 | 33.0% | 35.0% | ||
| Q4 24 | 34.3% | 37.6% | ||
| Q3 24 | 35.3% | 24.8% | ||
| Q2 24 | 37.2% | 40.3% | ||
| Q1 24 | 35.5% | 40.2% |
| Q4 25 | 6.3% | 11.7% | ||
| Q3 25 | 4.4% | 13.7% | ||
| Q2 25 | -2.0% | 14.4% | ||
| Q1 25 | -8.1% | 5.4% | ||
| Q4 24 | 3.3% | 15.4% | ||
| Q3 24 | 4.4% | 4.4% | ||
| Q2 24 | 4.5% | 18.7% | ||
| Q1 24 | 3.3% | 12.8% |
| Q4 25 | 3.8% | 5.5% | ||
| Q3 25 | 2.0% | 8.7% | ||
| Q2 25 | -2.7% | 12.5% | ||
| Q1 25 | -7.2% | -0.4% | ||
| Q4 24 | 1.5% | 7.3% | ||
| Q3 24 | 1.9% | -0.3% | ||
| Q2 24 | 2.0% | 11.9% | ||
| Q1 24 | 1.2% | 5.3% |
| Q4 25 | $0.35 | $0.05 | ||
| Q3 25 | $0.18 | $0.07 | ||
| Q2 25 | $-0.28 | $0.08 | ||
| Q1 25 | $-0.74 | $0.00 | ||
| Q4 24 | $0.15 | $0.04 | ||
| Q3 24 | $0.18 | $0.00 | ||
| Q2 24 | $0.19 | $0.07 | ||
| Q1 24 | $0.12 | $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 | $4.9M | $7.3M |
| Total DebtLower is stronger | $45.0M | — |
| Stockholders' EquityBook value | $604.9M | $600.0M |
| Total Assets | $1.6B | $904.1M |
| Debt / EquityLower = less leverage | 0.07× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9M | $7.3M | ||
| Q3 25 | $10.5M | $8.6M | ||
| Q2 25 | $7.8M | $4.7M | ||
| Q1 25 | $20.8M | $35.6M | ||
| Q4 24 | $10.2M | $23.5M | ||
| Q3 24 | $20.9M | $11.1M | ||
| Q2 24 | $18.7M | $3.2M | ||
| Q1 24 | $6.6M | $15.2M |
| Q4 25 | $45.0M | — | ||
| Q3 25 | $60.0M | — | ||
| Q2 25 | $71.5M | — | ||
| Q1 25 | $61.3M | $141.8M | ||
| Q4 24 | $59.3M | $141.8M | ||
| Q3 24 | $62.0M | $141.8M | ||
| Q2 24 | $112.0M | $146.8M | ||
| Q1 24 | $102.0M | $168.8M |
| Q4 25 | $604.9M | $600.0M | ||
| Q3 25 | $601.7M | $589.6M | ||
| Q2 25 | $604.9M | $575.4M | ||
| Q1 25 | $620.8M | $558.9M | ||
| Q4 24 | $648.9M | $556.8M | ||
| Q3 24 | $651.9M | $545.2M | ||
| Q2 24 | $654.4M | $544.6M | ||
| Q1 24 | $656.8M | $554.0M |
| Q4 25 | $1.6B | $904.1M | ||
| Q3 25 | $1.6B | $851.8M | ||
| Q2 25 | $1.6B | $795.0M | ||
| Q1 25 | $1.6B | $788.4M | ||
| Q4 24 | $1.7B | $793.1M | ||
| Q3 24 | $1.7B | $801.3M | ||
| Q2 24 | $1.7B | $788.4M | ||
| Q1 24 | $1.7B | $825.3M |
| Q4 25 | 0.07× | — | ||
| Q3 25 | 0.10× | — | ||
| Q2 25 | 0.12× | — | ||
| Q1 25 | 0.10× | 0.25× | ||
| Q4 24 | 0.09× | 0.25× | ||
| Q3 24 | 0.10× | 0.26× | ||
| Q2 24 | 0.17× | 0.27× | ||
| Q1 24 | 0.16× | 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 | $17.8M | $-4.1M |
| Free Cash FlowOCF − Capex | $9.1M | $-11.3M |
| FCF MarginFCF / Revenue | 3.1% | -7.6% |
| Capex IntensityCapex / Revenue | 3.0% | 4.8% |
| Cash ConversionOCF / Net Profit | 1.60× | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | $49.6M | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $17.8M | $-4.1M | ||
| Q3 25 | $32.3M | $19.4M | ||
| Q2 25 | $-1.9M | $-13.8M | ||
| Q1 25 | $28.9M | $15.6M | ||
| Q4 24 | $14.8M | $14.0M | ||
| Q3 24 | $62.6M | $15.7M | ||
| Q2 24 | $25.6M | $37.8M | ||
| Q1 24 | $-5.3M | $12.9M |
| Q4 25 | $9.1M | $-11.3M | ||
| Q3 25 | $26.6M | $9.0M | ||
| Q2 25 | $-9.3M | $-26.0M | ||
| Q1 25 | $23.2M | $12.3M | ||
| Q4 24 | $7.9M | $12.5M | ||
| Q3 24 | $57.6M | $13.3M | ||
| Q2 24 | $16.8M | $35.8M | ||
| Q1 24 | $-11.9M | $10.4M |
| Q4 25 | 3.1% | -7.6% | ||
| Q3 25 | 9.2% | 6.6% | ||
| Q2 25 | -3.1% | -23.5% | ||
| Q1 25 | 7.9% | 15.4% | ||
| Q4 24 | 2.6% | 11.6% | ||
| Q3 24 | 19.1% | 13.0% | ||
| Q2 24 | 5.7% | 36.1% | ||
| Q1 24 | -3.8% | 11.4% |
| Q4 25 | 3.0% | 4.8% | ||
| Q3 25 | 2.0% | 7.7% | ||
| Q2 25 | 2.5% | 11.0% | ||
| Q1 25 | 1.9% | 4.0% | ||
| Q4 24 | 2.2% | 1.4% | ||
| Q3 24 | 1.6% | 2.3% | ||
| Q2 24 | 3.0% | 2.0% | ||
| Q1 24 | 2.1% | 2.7% |
| Q4 25 | 1.60× | -0.50× | ||
| Q3 25 | 5.71× | 1.63× | ||
| Q2 25 | — | -1.00× | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.23× | 1.79× | ||
| Q3 24 | 11.08× | — | ||
| Q2 24 | 4.37× | 3.21× | ||
| Q1 24 | -1.42× | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MNRO
| Tires | $150.2M | 51% |
| Maintenance | $73.5M | 25% |
| Brakes | $35.1M | 12% |
| Steering | $24.9M | 8% |
| Batteries | $6.2M | 2% |
| Exhaust | $3.2M | 1% |
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
