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Side-by-side financial comparison of OPKO HEALTH, INC. (OPK) and Shoals Technologies Group, Inc. (SHLS). Click either name above to swap in a different company.
OPKO HEALTH, INC. is the larger business by last-quarter revenue ($148.5M vs $148.3M, roughly 1.0× Shoals Technologies Group, Inc.). Shoals Technologies Group, Inc. runs the higher net margin — 5.5% vs -21.1%, a 26.5% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs -19.2%). Shoals Technologies Group, Inc. produced more free cash flow last quarter ($-11.3M vs $-28.6M). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs -7.5%).
OPKO Health, Inc. is a medical test and medication company focused on diagnostics and pharmaceuticals. The company is a publicly traded company on NASDAQ and TASE under the symbol "OPK".
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.
OPK vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $148.5M | $148.3M |
| Net Profit | $-31.3M | $8.1M |
| Gross Margin | 43.1% | 31.6% |
| Operating Margin | -25.8% | 11.7% |
| Net Margin | -21.1% | 5.5% |
| Revenue YoY | -19.2% | 38.6% |
| Net Profit YoY | -322.8% | 3.9% |
| EPS (diluted) | $-0.04 | $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 | $148.5M | $148.3M | ||
| Q3 25 | $151.7M | $135.8M | ||
| Q2 25 | $156.8M | $110.8M | ||
| Q1 25 | $150.0M | $80.4M | ||
| Q4 24 | $183.6M | $107.0M | ||
| Q3 24 | $173.6M | $102.2M | ||
| Q2 24 | $182.2M | $99.2M | ||
| Q1 24 | $173.7M | $90.8M |
| Q4 25 | $-31.3M | $8.1M | ||
| Q3 25 | $21.6M | $11.9M | ||
| Q2 25 | $-148.4M | $13.9M | ||
| Q1 25 | $-67.6M | $-282.0K | ||
| Q4 24 | $14.0M | $7.8M | ||
| Q3 24 | $24.9M | $-267.0K | ||
| Q2 24 | $-10.3M | $11.8M | ||
| Q1 24 | $-81.8M | $4.8M |
| Q4 25 | 43.1% | 31.6% | ||
| Q3 25 | 32.9% | 37.0% | ||
| Q2 25 | 31.5% | 37.2% | ||
| Q1 25 | 28.4% | 35.0% | ||
| Q4 24 | 46.1% | 37.6% | ||
| Q3 24 | 23.1% | 24.8% | ||
| Q2 24 | 28.4% | 40.3% | ||
| Q1 24 | 24.2% | 40.2% |
| Q4 25 | -25.8% | 11.7% | ||
| Q3 25 | 31.7% | 13.7% | ||
| Q2 25 | -38.3% | 14.4% | ||
| Q1 25 | -44.8% | 5.4% | ||
| Q4 24 | -18.0% | 15.4% | ||
| Q3 24 | 8.2% | 4.4% | ||
| Q2 24 | -33.9% | 18.7% | ||
| Q1 24 | -41.2% | 12.8% |
| Q4 25 | -21.1% | 5.5% | ||
| Q3 25 | 14.3% | 8.7% | ||
| Q2 25 | -94.7% | 12.5% | ||
| Q1 25 | -45.1% | -0.4% | ||
| Q4 24 | 7.6% | 7.3% | ||
| Q3 24 | 14.3% | -0.3% | ||
| Q2 24 | -5.7% | 11.9% | ||
| Q1 24 | -47.1% | 5.3% |
| Q4 25 | $-0.04 | $0.05 | ||
| Q3 25 | $0.03 | $0.07 | ||
| Q2 25 | $-0.19 | $0.08 | ||
| Q1 25 | $-0.10 | $0.00 | ||
| Q4 24 | $0.02 | $0.04 | ||
| Q3 24 | $0.03 | $0.00 | ||
| Q2 24 | $-0.01 | $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 | $364.4M | $7.3M |
| Total DebtLower is stronger | $344.0M | — |
| Stockholders' EquityBook value | $1.3B | $600.0M |
| Total Assets | $1.9B | $904.1M |
| Debt / EquityLower = less leverage | 0.27× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $364.4M | $7.3M | ||
| Q3 25 | $412.0M | $8.6M | ||
| Q2 25 | $267.3M | $4.7M | ||
| Q1 25 | $428.8M | $35.6M | ||
| Q4 24 | $426.6M | $23.5M | ||
| Q3 24 | $400.1M | $11.1M | ||
| Q2 24 | $40.6M | $3.2M | ||
| Q1 24 | $75.6M | $15.2M |
| Q4 25 | $344.0M | — | ||
| Q3 25 | $344.2M | — | ||
| Q2 25 | $343.3M | — | ||
| Q1 25 | $439.2M | $141.8M | ||
| Q4 24 | $437.2M | $141.8M | ||
| Q3 24 | $441.0M | $141.8M | ||
| Q2 24 | $201.9M | $146.8M | ||
| Q1 24 | $350.1M | $168.8M |
| Q4 25 | $1.3B | $600.0M | ||
| Q3 25 | $1.3B | $589.6M | ||
| Q2 25 | $1.3B | $575.4M | ||
| Q1 25 | $1.3B | $558.9M | ||
| Q4 24 | $1.4B | $556.8M | ||
| Q3 24 | $1.4B | $545.2M | ||
| Q2 24 | $1.4B | $544.6M | ||
| Q1 24 | $1.3B | $554.0M |
| Q4 25 | $1.9B | $904.1M | ||
| Q3 25 | $2.0B | $851.8M | ||
| Q2 25 | $2.0B | $795.0M | ||
| Q1 25 | $2.1B | $788.4M | ||
| Q4 24 | $2.2B | $793.1M | ||
| Q3 24 | $2.3B | $801.3M | ||
| Q2 24 | $2.0B | $788.4M | ||
| Q1 24 | $2.0B | $825.3M |
| Q4 25 | 0.27× | — | ||
| Q3 25 | 0.26× | — | ||
| Q2 25 | 0.26× | — | ||
| Q1 25 | 0.33× | 0.25× | ||
| Q4 24 | 0.32× | 0.25× | ||
| Q3 24 | 0.31× | 0.26× | ||
| Q2 24 | 0.14× | 0.27× | ||
| Q1 24 | 0.28× | 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 | $-25.9M | $-4.1M |
| Free Cash FlowOCF − Capex | $-28.6M | $-11.3M |
| FCF MarginFCF / Revenue | -19.3% | -7.6% |
| Capex IntensityCapex / Revenue | 1.8% | 4.8% |
| Cash ConversionOCF / Net Profit | — | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | $-190.8M | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-25.9M | $-4.1M | ||
| Q3 25 | $-34.6M | $19.4M | ||
| Q2 25 | $-83.4M | $-13.8M | ||
| Q1 25 | $-34.6M | $15.6M | ||
| Q4 24 | $-44.4M | $14.0M | ||
| Q3 24 | $-77.1M | $15.7M | ||
| Q2 24 | $-26.4M | $37.8M | ||
| Q1 24 | $-35.6M | $12.9M |
| Q4 25 | $-28.6M | $-11.3M | ||
| Q3 25 | $-37.8M | $9.0M | ||
| Q2 25 | $-86.7M | $-26.0M | ||
| Q1 25 | $-37.7M | $12.3M | ||
| Q4 24 | $-49.8M | $12.5M | ||
| Q3 24 | $-85.0M | $13.3M | ||
| Q2 24 | $-33.7M | $35.8M | ||
| Q1 24 | $-40.0M | $10.4M |
| Q4 25 | -19.3% | -7.6% | ||
| Q3 25 | -24.9% | 6.6% | ||
| Q2 25 | -55.3% | -23.5% | ||
| Q1 25 | -25.2% | 15.4% | ||
| Q4 24 | -27.1% | 11.6% | ||
| Q3 24 | -49.0% | 13.0% | ||
| Q2 24 | -18.5% | 36.1% | ||
| Q1 24 | -23.0% | 11.4% |
| Q4 25 | 1.8% | 4.8% | ||
| Q3 25 | 2.1% | 7.7% | ||
| Q2 25 | 2.1% | 11.0% | ||
| Q1 25 | 2.1% | 4.0% | ||
| Q4 24 | 2.9% | 1.4% | ||
| Q3 24 | 4.6% | 2.3% | ||
| Q2 24 | 4.0% | 2.0% | ||
| Q1 24 | 2.6% | 2.7% |
| Q4 25 | — | -0.50× | ||
| Q3 25 | -1.60× | 1.63× | ||
| Q2 25 | — | -1.00× | ||
| Q1 25 | — | — | ||
| Q4 24 | -3.17× | 1.79× | ||
| Q3 24 | -3.10× | — | ||
| Q2 24 | — | 3.21× | ||
| Q1 24 | — | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
OPK
| Services | $71.1M | 48% |
| Transfer Of Intellectual Property And Other | $33.7M | 23% |
| IE | $22.1M | 15% |
| Rayaldee | $8.8M | 6% |
| Barda Agreement | $6.8M | 5% |
| MX | $6.3M | 4% |
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
