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Side-by-side financial comparison of OLAPLEX HOLDINGS, INC. (OLPX) 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 $105.1M, roughly 1.4× OLAPLEX HOLDINGS, INC.). Shoals Technologies Group, Inc. runs the higher net margin — 5.5% vs -12.5%, a 17.9% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs 4.3%). OLAPLEX HOLDINGS, INC. produced more free cash flow last quarter ($32.6M vs $-11.3M). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs 3.1%).
Olaplex Holdings, Inc. is a specialty beauty company developing and selling patented bond-repair hair care products. It runs three core segments: professional salon distribution, direct-to-consumer sales, and third-party retail, serving customers across North America, Europe, and Asia-Pacific with products that repair and protect damaged hair.
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.
OLPX vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $105.1M | $148.3M |
| Net Profit | $-13.1M | $8.1M |
| Gross Margin | 68.0% | 31.6% |
| Operating Margin | -4.3% | 11.7% |
| Net Margin | -12.5% | 5.5% |
| Revenue YoY | 4.3% | 38.6% |
| Net Profit YoY | -48.9% | 3.9% |
| EPS (diluted) | $-0.02 | $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 | $105.1M | $148.3M | ||
| Q3 25 | $114.6M | $135.8M | ||
| Q2 25 | $106.3M | $110.8M | ||
| Q1 25 | $97.0M | $80.4M | ||
| Q4 24 | $100.7M | $107.0M | ||
| Q3 24 | $119.1M | $102.2M | ||
| Q2 24 | $103.9M | $99.2M | ||
| Q1 24 | $98.9M | $90.8M |
| Q4 25 | $-13.1M | $8.1M | ||
| Q3 25 | $11.1M | $11.9M | ||
| Q2 25 | $-7.7M | $13.9M | ||
| Q1 25 | $465.0K | $-282.0K | ||
| Q4 24 | $-8.8M | $7.8M | ||
| Q3 24 | $14.8M | $-267.0K | ||
| Q2 24 | $5.8M | $11.8M | ||
| Q1 24 | $7.7M | $4.8M |
| Q4 25 | 68.0% | 31.6% | ||
| Q3 25 | 69.1% | 37.0% | ||
| Q2 25 | 71.2% | 37.2% | ||
| Q1 25 | 69.5% | 35.0% | ||
| Q4 24 | 66.3% | 37.6% | ||
| Q3 24 | 68.6% | 24.8% | ||
| Q2 24 | 69.7% | 40.3% | ||
| Q1 24 | 72.1% | 40.2% |
| Q4 25 | -4.3% | 11.7% | ||
| Q3 25 | 3.7% | 13.7% | ||
| Q2 25 | -1.1% | 14.4% | ||
| Q1 25 | 8.7% | 5.4% | ||
| Q4 24 | 3.0% | 15.4% | ||
| Q3 24 | 23.5% | 4.4% | ||
| Q2 24 | 15.7% | 18.7% | ||
| Q1 24 | 19.8% | 12.8% |
| Q4 25 | -12.5% | 5.5% | ||
| Q3 25 | 9.7% | 8.7% | ||
| Q2 25 | -7.3% | 12.5% | ||
| Q1 25 | 0.5% | -0.4% | ||
| Q4 24 | -8.7% | 7.3% | ||
| Q3 24 | 12.4% | -0.3% | ||
| Q2 24 | 5.6% | 11.9% | ||
| Q1 24 | 7.8% | 5.3% |
| Q4 25 | $-0.02 | $0.05 | ||
| Q3 25 | $0.02 | $0.07 | ||
| Q2 25 | $-0.01 | $0.08 | ||
| Q1 25 | $0.00 | $0.00 | ||
| Q4 24 | $-0.01 | $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 | $318.7M | $7.3M |
| Total DebtLower is stronger | $352.3M | — |
| Stockholders' EquityBook value | $879.4M | $600.0M |
| Total Assets | $1.5B | $904.1M |
| Debt / EquityLower = less leverage | 0.40× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $318.7M | $7.3M | ||
| Q3 25 | $286.4M | $8.6M | ||
| Q2 25 | $289.3M | $4.7M | ||
| Q1 25 | $580.9M | $35.6M | ||
| Q4 24 | $586.0M | $23.5M | ||
| Q3 24 | $538.8M | $11.1M | ||
| Q2 24 | $507.9M | $3.2M | ||
| Q1 24 | $507.5M | $15.2M |
| Q4 25 | $352.3M | — | ||
| Q3 25 | $352.1M | — | ||
| Q2 25 | $351.9M | — | ||
| Q1 25 | $649.1M | $141.8M | ||
| Q4 24 | $650.5M | $141.8M | ||
| Q3 24 | $651.8M | $141.8M | ||
| Q2 24 | $653.1M | $146.8M | ||
| Q1 24 | $654.4M | $168.8M |
| Q4 25 | $879.4M | $600.0M | ||
| Q3 25 | $888.7M | $589.6M | ||
| Q2 25 | $874.2M | $575.4M | ||
| Q1 25 | $878.3M | $558.9M | ||
| Q4 24 | $874.4M | $556.8M | ||
| Q3 24 | $879.7M | $545.2M | ||
| Q2 24 | $863.3M | $544.6M | ||
| Q1 24 | $855.7M | $554.0M |
| Q4 25 | $1.5B | $904.1M | ||
| Q3 25 | $1.5B | $851.8M | ||
| Q2 25 | $1.5B | $795.0M | ||
| Q1 25 | $1.8B | $788.4M | ||
| Q4 24 | $1.8B | $793.1M | ||
| Q3 24 | $1.8B | $801.3M | ||
| Q2 24 | $1.8B | $788.4M | ||
| Q1 24 | $1.8B | $825.3M |
| Q4 25 | 0.40× | — | ||
| Q3 25 | 0.40× | — | ||
| Q2 25 | 0.40× | — | ||
| Q1 25 | 0.74× | 0.25× | ||
| Q4 24 | 0.74× | 0.25× | ||
| Q3 24 | 0.74× | 0.26× | ||
| Q2 24 | 0.76× | 0.27× | ||
| Q1 24 | 0.76× | 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 | $32.7M | $-4.1M |
| Free Cash FlowOCF − Capex | $32.6M | $-11.3M |
| FCF MarginFCF / Revenue | 31.0% | -7.6% |
| Capex IntensityCapex / Revenue | 0.1% | 4.8% |
| Cash ConversionOCF / Net Profit | — | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | $58.3M | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $32.7M | $-4.1M | ||
| Q3 25 | $8.0M | $19.4M | ||
| Q2 25 | $20.9M | $-13.8M | ||
| Q1 25 | $-2.9M | $15.6M | ||
| Q4 24 | $49.7M | $14.0M | ||
| Q3 24 | $33.5M | $15.7M | ||
| Q2 24 | $16.2M | $37.8M | ||
| Q1 24 | $43.7M | $12.9M |
| Q4 25 | $32.6M | $-11.3M | ||
| Q3 25 | $7.9M | $9.0M | ||
| Q2 25 | $20.8M | $-26.0M | ||
| Q1 25 | $-3.0M | $12.3M | ||
| Q4 24 | $49.2M | $12.5M | ||
| Q3 24 | $33.3M | $13.3M | ||
| Q2 24 | $16.1M | $35.8M | ||
| Q1 24 | $43.3M | $10.4M |
| Q4 25 | 31.0% | -7.6% | ||
| Q3 25 | 6.9% | 6.6% | ||
| Q2 25 | 19.6% | -23.5% | ||
| Q1 25 | -3.1% | 15.4% | ||
| Q4 24 | 48.9% | 11.6% | ||
| Q3 24 | 28.0% | 13.0% | ||
| Q2 24 | 15.5% | 36.1% | ||
| Q1 24 | 43.7% | 11.4% |
| Q4 25 | 0.1% | 4.8% | ||
| Q3 25 | 0.1% | 7.7% | ||
| Q2 25 | 0.1% | 11.0% | ||
| Q1 25 | 0.0% | 4.0% | ||
| Q4 24 | 0.4% | 1.4% | ||
| Q3 24 | 0.1% | 2.3% | ||
| Q2 24 | 0.1% | 2.0% | ||
| Q1 24 | 0.5% | 2.7% |
| Q4 25 | — | -0.50× | ||
| Q3 25 | 0.72× | 1.63× | ||
| Q2 25 | — | -1.00× | ||
| Q1 25 | -6.27× | — | ||
| Q4 24 | — | 1.79× | ||
| Q3 24 | 2.26× | — | ||
| Q2 24 | 2.81× | 3.21× | ||
| Q1 24 | 5.64× | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
OLPX
| Sales Channel Directly To Consumer | $43.6M | 42% |
| Sales Channel Through Intermediary Professional | $36.8M | 35% |
| Sales Channel Through Intermediary Specialty Retail | $24.7M | 23% |
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
