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Side-by-side financial comparison of Metallus Inc. (MTUS) and Shoals Technologies Group, Inc. (SHLS). Click either name above to swap in a different company.
Metallus Inc. is the larger business by last-quarter revenue ($308.3M vs $148.3M, roughly 2.1× Shoals Technologies Group, Inc.). Shoals Technologies Group, Inc. runs the higher net margin — 5.5% vs 1.8%, a 3.7% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs 9.9%). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs 2.3%).
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.
MTUS vs SHLS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $308.3M | $148.3M |
| Net Profit | $5.4M | $8.1M |
| Gross Margin | 8.1% | 31.6% |
| Operating Margin | — | 11.7% |
| Net Margin | 1.8% | 5.5% |
| Revenue YoY | 9.9% | 38.6% |
| Net Profit YoY | 315.4% | 3.9% |
| EPS (diluted) | $0.13 | $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.
| Q1 26 | $308.3M | — | ||
| Q4 25 | $267.3M | $148.3M | ||
| Q3 25 | $305.9M | $135.8M | ||
| Q2 25 | $304.6M | $110.8M | ||
| Q1 25 | $280.5M | $80.4M | ||
| Q4 24 | $240.5M | $107.0M | ||
| Q3 24 | $227.2M | $102.2M | ||
| Q2 24 | $294.7M | $99.2M |
| Q1 26 | $5.4M | — | ||
| Q4 25 | $-14.3M | $8.1M | ||
| Q3 25 | $8.1M | $11.9M | ||
| Q2 25 | $3.7M | $13.9M | ||
| Q1 25 | $1.3M | $-282.0K | ||
| Q4 24 | $-21.4M | $7.8M | ||
| Q3 24 | $-5.9M | $-267.0K | ||
| Q2 24 | $4.6M | $11.8M |
| Q1 26 | 8.1% | — | ||
| Q4 25 | 2.2% | 31.6% | ||
| Q3 25 | 11.4% | 37.0% | ||
| Q2 25 | 10.6% | 37.2% | ||
| Q1 25 | 7.8% | 35.0% | ||
| Q4 24 | 4.5% | 37.6% | ||
| Q3 24 | 5.3% | 24.8% | ||
| Q2 24 | 8.2% | 40.3% |
| Q1 26 | — | — | ||
| Q4 25 | -7.7% | 11.7% | ||
| Q3 25 | 3.6% | 13.7% | ||
| Q2 25 | 2.8% | 14.4% | ||
| Q1 25 | 1.0% | 5.4% | ||
| Q4 24 | -10.1% | 15.4% | ||
| Q3 24 | -3.1% | 4.4% | ||
| Q2 24 | 2.1% | 18.7% |
| Q1 26 | 1.8% | — | ||
| Q4 25 | -5.3% | 5.5% | ||
| Q3 25 | 2.6% | 8.7% | ||
| Q2 25 | 1.2% | 12.5% | ||
| Q1 25 | 0.5% | -0.4% | ||
| Q4 24 | -8.9% | 7.3% | ||
| Q3 24 | -2.6% | -0.3% | ||
| Q2 24 | 1.6% | 11.9% |
| Q1 26 | $0.13 | — | ||
| Q4 25 | $-0.34 | $0.05 | ||
| Q3 25 | $0.19 | $0.07 | ||
| Q2 25 | $0.09 | $0.08 | ||
| Q1 25 | $0.03 | $0.00 | ||
| Q4 24 | $-0.46 | $0.04 | ||
| Q3 24 | $-0.13 | $0.00 | ||
| Q2 24 | $0.10 | $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 | $104.0M | $7.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $683.0M | $600.0M |
| Total Assets | $1.1B | $904.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $104.0M | — | ||
| Q4 25 | $156.7M | $7.3M | ||
| Q3 25 | $191.5M | $8.6M | ||
| Q2 25 | $190.8M | $4.7M | ||
| Q1 25 | $180.3M | $35.6M | ||
| Q4 24 | $240.7M | $23.5M | ||
| Q3 24 | $254.6M | $11.1M | ||
| Q2 24 | $272.8M | $3.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $0 | — | ||
| Q2 25 | $0 | — | ||
| Q1 25 | $5.4M | $141.8M | ||
| Q4 24 | $5.4M | $141.8M | ||
| Q3 24 | $13.2M | $141.8M | ||
| Q2 24 | $13.2M | $146.8M |
| Q1 26 | $683.0M | — | ||
| Q4 25 | $686.0M | $600.0M | ||
| Q3 25 | $697.7M | $589.6M | ||
| Q2 25 | $690.0M | $575.4M | ||
| Q1 25 | $686.1M | $558.9M | ||
| Q4 24 | $690.5M | $556.8M | ||
| Q3 24 | $712.7M | $545.2M | ||
| Q2 24 | $736.3M | $544.6M |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $904.1M | ||
| Q3 25 | $1.2B | $851.8M | ||
| Q2 25 | $1.1B | $795.0M | ||
| Q1 25 | $1.1B | $788.4M | ||
| Q4 24 | $1.1B | $793.1M | ||
| Q3 24 | $1.1B | $801.3M | ||
| Q2 24 | $1.1B | $788.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 0.00× | — | ||
| Q2 25 | 0.00× | — | ||
| Q1 25 | 0.01× | 0.25× | ||
| Q4 24 | 0.01× | 0.25× | ||
| Q3 24 | 0.02× | 0.26× | ||
| Q2 24 | 0.02× | 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 | — | $-4.1M |
| Free Cash FlowOCF − Capex | — | $-11.3M |
| FCF MarginFCF / Revenue | — | -7.6% |
| Capex IntensityCapex / Revenue | 0.0% | 4.8% |
| Cash ConversionOCF / Net Profit | — | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-1.9M | $-4.1M | ||
| Q3 25 | $22.0M | $19.4M | ||
| Q2 25 | $34.8M | $-13.8M | ||
| Q1 25 | $-38.9M | $15.6M | ||
| Q4 24 | $13.9M | $14.0M | ||
| Q3 24 | $-15.3M | $15.7M | ||
| Q2 24 | $8.3M | $37.8M |
| Q1 26 | — | — | ||
| Q4 25 | $-37.2M | $-11.3M | ||
| Q3 25 | $-6.4M | $9.0M | ||
| Q2 25 | $17.0M | $-26.0M | ||
| Q1 25 | $-66.4M | $12.3M | ||
| Q4 24 | $-1.3M | $12.5M | ||
| Q3 24 | $-32.9M | $13.3M | ||
| Q2 24 | $-5.8M | $35.8M |
| Q1 26 | — | — | ||
| Q4 25 | -13.9% | -7.6% | ||
| Q3 25 | -2.1% | 6.6% | ||
| Q2 25 | 5.6% | -23.5% | ||
| Q1 25 | -23.7% | 15.4% | ||
| Q4 24 | -0.5% | 11.6% | ||
| Q3 24 | -14.5% | 13.0% | ||
| Q2 24 | -2.0% | 36.1% |
| Q1 26 | 0.0% | — | ||
| Q4 25 | 13.2% | 4.8% | ||
| Q3 25 | 9.3% | 7.7% | ||
| Q2 25 | 5.8% | 11.0% | ||
| Q1 25 | 9.8% | 4.0% | ||
| Q4 24 | 6.3% | 1.4% | ||
| Q3 24 | 7.7% | 2.3% | ||
| Q2 24 | 4.8% | 2.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | -0.50× | ||
| Q3 25 | 2.72× | 1.63× | ||
| Q2 25 | 9.41× | -1.00× | ||
| Q1 25 | -29.92× | — | ||
| Q4 24 | — | 1.79× | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.80× | 3.21× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MTUS
Segment breakdown not available.
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
