vs
Side-by-side financial comparison of Nextpower Inc. (NXT) and Shoals Technologies Group, Inc. (SHLS). Click either name above to swap in a different company.
Nextpower Inc. is the larger business by last-quarter revenue ($909.4M vs $148.3M, roughly 6.1× Shoals Technologies Group, Inc.). Nextpower Inc. runs the higher net margin — 14.4% vs 5.5%, a 9.0% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs 33.9%). Nextpower Inc. produced more free cash flow last quarter ($118.5M vs $-11.3M). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs 11.1%).
Nextpower Inc. (NXT) is a global energy technology provider based in Fremont, California.
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.
NXT vs SHLS — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $909.4M | $148.3M |
| Net Profit | $131.2M | $8.1M |
| Gross Margin | 31.7% | 31.6% |
| Operating Margin | 19.4% | 11.7% |
| Net Margin | 14.4% | 5.5% |
| Revenue YoY | 33.9% | 38.6% |
| Net Profit YoY | 13.8% | 3.9% |
| EPS (diluted) | $0.85 | $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 | $909.4M | $148.3M | ||
| Q3 25 | $905.3M | $135.8M | ||
| Q2 25 | $864.3M | $110.8M | ||
| Q1 25 | $924.3M | $80.4M | ||
| Q4 24 | $679.4M | $107.0M | ||
| Q3 24 | $635.6M | $102.2M | ||
| Q2 24 | $719.9M | $99.2M | ||
| Q1 24 | $736.5M | $90.8M |
| Q4 25 | $131.2M | $8.1M | ||
| Q3 25 | $146.9M | $11.9M | ||
| Q2 25 | $157.2M | $13.9M | ||
| Q1 25 | $156.8M | $-282.0K | ||
| Q4 24 | $115.3M | $7.8M | ||
| Q3 24 | $115.4M | $-267.0K | ||
| Q2 24 | $121.7M | $11.8M | ||
| Q1 24 | $205.2M | $4.8M |
| Q4 25 | 31.7% | 31.6% | ||
| Q3 25 | 32.4% | 37.0% | ||
| Q2 25 | 32.6% | 37.2% | ||
| Q1 25 | 33.1% | 35.0% | ||
| Q4 24 | 35.5% | 37.6% | ||
| Q3 24 | 35.4% | 24.8% | ||
| Q2 24 | 33.0% | 40.3% | ||
| Q1 24 | 46.2% | 40.2% |
| Q4 25 | 19.4% | 11.7% | ||
| Q3 25 | 20.0% | 13.7% | ||
| Q2 25 | 21.5% | 14.4% | ||
| Q1 25 | 21.1% | 5.4% | ||
| Q4 24 | 22.1% | 15.4% | ||
| Q3 24 | 21.0% | 4.4% | ||
| Q2 24 | 22.2% | 18.7% | ||
| Q1 24 | 36.8% | 12.8% |
| Q4 25 | 14.4% | 5.5% | ||
| Q3 25 | 16.2% | 8.7% | ||
| Q2 25 | 18.2% | 12.5% | ||
| Q1 25 | 17.0% | -0.4% | ||
| Q4 24 | 17.0% | 7.3% | ||
| Q3 24 | 18.2% | -0.3% | ||
| Q2 24 | 16.9% | 11.9% | ||
| Q1 24 | 27.9% | 5.3% |
| Q4 25 | $0.85 | $0.05 | ||
| Q3 25 | $0.97 | $0.07 | ||
| Q2 25 | $1.04 | $0.08 | ||
| Q1 25 | $1.05 | $0.00 | ||
| Q4 24 | $0.79 | $0.04 | ||
| Q3 24 | $0.79 | $0.00 | ||
| Q2 24 | $0.84 | $0.07 | ||
| Q1 24 | $1.52 | $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 | $952.6M | $7.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.2B | $600.0M |
| Total Assets | $3.8B | $904.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $952.6M | $7.3M | ||
| Q3 25 | $845.3M | $8.6M | ||
| Q2 25 | $743.4M | $4.7M | ||
| Q1 25 | $766.1M | $35.6M | ||
| Q4 24 | $693.5M | $23.5M | ||
| Q3 24 | $561.9M | $11.1M | ||
| Q2 24 | $471.9M | $3.2M | ||
| Q1 24 | $474.1M | $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 | $2.2B | $600.0M | ||
| Q3 25 | $2.0B | $589.6M | ||
| Q2 25 | $1.8B | $575.4M | ||
| Q1 25 | $1.6B | $558.9M | ||
| Q4 24 | $1.4B | $556.8M | ||
| Q3 24 | $1.3B | $545.2M | ||
| Q2 24 | $1.1B | $544.6M | ||
| Q1 24 | $961.0M | $554.0M |
| Q4 25 | $3.8B | $904.1M | ||
| Q3 25 | $3.7B | $851.8M | ||
| Q2 25 | $3.4B | $795.0M | ||
| Q1 25 | $3.2B | $788.4M | ||
| Q4 24 | $3.0B | $793.1M | ||
| Q3 24 | $2.8B | $801.3M | ||
| Q2 24 | $2.6B | $788.4M | ||
| Q1 24 | $2.5B | $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 | $123.3M | $-4.1M |
| Free Cash FlowOCF − Capex | $118.5M | $-11.3M |
| FCF MarginFCF / Revenue | 13.0% | -7.6% |
| Capex IntensityCapex / Revenue | 0.5% | 4.8% |
| Cash ConversionOCF / Net Profit | 0.94× | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | $587.3M | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $123.3M | $-4.1M | ||
| Q3 25 | $186.9M | $19.4M | ||
| Q2 25 | $81.3M | $-13.8M | ||
| Q1 25 | $237.3M | $15.6M | ||
| Q4 24 | $143.8M | $14.0M | ||
| Q3 24 | $153.8M | $15.7M | ||
| Q2 24 | $120.8M | $37.8M | ||
| Q1 24 | $111.5M | $12.9M |
| Q4 25 | $118.5M | $-11.3M | ||
| Q3 25 | $171.4M | $9.0M | ||
| Q2 25 | $70.1M | $-26.0M | ||
| Q1 25 | $227.2M | $12.3M | ||
| Q4 24 | $134.9M | $12.5M | ||
| Q3 24 | $141.8M | $13.3M | ||
| Q2 24 | $118.0M | $35.8M | ||
| Q1 24 | $109.2M | $10.4M |
| Q4 25 | 13.0% | -7.6% | ||
| Q3 25 | 18.9% | 6.6% | ||
| Q2 25 | 8.1% | -23.5% | ||
| Q1 25 | 24.6% | 15.4% | ||
| Q4 24 | 19.9% | 11.6% | ||
| Q3 24 | 22.3% | 13.0% | ||
| Q2 24 | 16.4% | 36.1% | ||
| Q1 24 | 14.8% | 11.4% |
| Q4 25 | 0.5% | 4.8% | ||
| Q3 25 | 1.7% | 7.7% | ||
| Q2 25 | 1.3% | 11.0% | ||
| Q1 25 | 1.1% | 4.0% | ||
| Q4 24 | 1.3% | 1.4% | ||
| Q3 24 | 1.9% | 2.3% | ||
| Q2 24 | 0.4% | 2.0% | ||
| Q1 24 | 0.3% | 2.7% |
| Q4 25 | 0.94× | -0.50× | ||
| Q3 25 | 1.27× | 1.63× | ||
| Q2 25 | 0.52× | -1.00× | ||
| Q1 25 | 1.51× | — | ||
| Q4 24 | 1.25× | 1.79× | ||
| Q3 24 | 1.33× | — | ||
| Q2 24 | 0.99× | 3.21× | ||
| Q1 24 | 0.54× | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NXT
| Transferred Over Time | $763.9M | 84% |
| Transferred At Point In Time | $145.4M | 16% |
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
