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Side-by-side financial comparison of PAMT CORP (PAMT) 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 $141.3M, roughly 1.0× PAMT CORP). Shoals Technologies Group, Inc. runs the higher net margin — 5.5% vs -20.7%, a 26.2% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs -15.1%). Shoals Technologies Group, Inc. produced more free cash flow last quarter ($-11.3M vs $-25.0M). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs -12.0%).
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.
PAMT vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $141.3M | $148.3M |
| Net Profit | $-29.3M | $8.1M |
| Gross Margin | — | 31.6% |
| Operating Margin | -27.0% | 11.7% |
| Net Margin | -20.7% | 5.5% |
| Revenue YoY | -15.1% | 38.6% |
| Net Profit YoY | 7.4% | 3.9% |
| EPS (diluted) | $-1.38 | $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 | $141.3M | $148.3M | ||
| Q3 25 | $150.3M | $135.8M | ||
| Q2 25 | $151.1M | $110.8M | ||
| Q1 25 | $155.3M | $80.4M | ||
| Q4 24 | $166.5M | $107.0M | ||
| Q3 24 | $182.6M | $102.2M | ||
| Q2 24 | $182.9M | $99.2M | ||
| Q1 24 | $182.6M | $90.8M |
| Q4 25 | $-29.3M | $8.1M | ||
| Q3 25 | $-5.6M | $11.9M | ||
| Q2 25 | $-9.6M | $13.9M | ||
| Q1 25 | $-8.1M | $-282.0K | ||
| Q4 24 | $-31.6M | $7.8M | ||
| Q3 24 | $2.4M | $-267.0K | ||
| Q2 24 | $-2.9M | $11.8M | ||
| Q1 24 | $281.0K | $4.8M |
| Q4 25 | — | 31.6% | ||
| Q3 25 | — | 37.0% | ||
| Q2 25 | — | 37.2% | ||
| Q1 25 | — | 35.0% | ||
| Q4 24 | — | 37.6% | ||
| Q3 24 | — | 24.8% | ||
| Q2 24 | — | 40.3% | ||
| Q1 24 | — | 40.2% |
| Q4 25 | -27.0% | 11.7% | ||
| Q3 25 | -3.8% | 13.7% | ||
| Q2 25 | -7.3% | 14.4% | ||
| Q1 25 | -5.9% | 5.4% | ||
| Q4 24 | -22.6% | 15.4% | ||
| Q3 24 | 1.3% | 4.4% | ||
| Q2 24 | -0.4% | 18.7% | ||
| Q1 24 | -0.4% | 12.8% |
| Q4 25 | -20.7% | 5.5% | ||
| Q3 25 | -3.7% | 8.7% | ||
| Q2 25 | -6.4% | 12.5% | ||
| Q1 25 | -5.2% | -0.4% | ||
| Q4 24 | -19.0% | 7.3% | ||
| Q3 24 | 1.3% | -0.3% | ||
| Q2 24 | -1.6% | 11.9% | ||
| Q1 24 | 0.2% | 5.3% |
| Q4 25 | $-1.38 | $0.05 | ||
| Q3 25 | $-0.27 | $0.07 | ||
| Q2 25 | $-0.46 | $0.08 | ||
| Q1 25 | $-0.37 | $0.00 | ||
| Q4 24 | $-1.44 | $0.04 | ||
| Q3 24 | $0.11 | $0.00 | ||
| Q2 24 | $-0.13 | $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 | $83.7M | $7.3M |
| Total DebtLower is stronger | $333.9M | — |
| Stockholders' EquityBook value | $210.5M | $600.0M |
| Total Assets | $697.9M | $904.1M |
| Debt / EquityLower = less leverage | 1.59× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $83.7M | $7.3M | ||
| Q3 25 | $115.6M | $8.6M | ||
| Q2 25 | $117.3M | $4.7M | ||
| Q1 25 | $102.7M | $35.6M | ||
| Q4 24 | $110.7M | $23.5M | ||
| Q3 24 | $92.3M | $11.1M | ||
| Q2 24 | $114.0M | $3.2M | ||
| Q1 24 | $125.8M | $15.2M |
| Q4 25 | $333.9M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $141.8M | ||
| Q4 24 | $325.6M | $141.8M | ||
| Q3 24 | — | $141.8M | ||
| Q2 24 | — | $146.8M | ||
| Q1 24 | — | $168.8M |
| Q4 25 | $210.5M | $600.0M | ||
| Q3 25 | $239.5M | $589.6M | ||
| Q2 25 | $244.9M | $575.4M | ||
| Q1 25 | $269.6M | $558.9M | ||
| Q4 24 | $277.5M | $556.8M | ||
| Q3 24 | $308.9M | $545.2M | ||
| Q2 24 | $306.7M | $544.6M | ||
| Q1 24 | $314.6M | $554.0M |
| Q4 25 | $697.9M | $904.1M | ||
| Q3 25 | $715.2M | $851.8M | ||
| Q2 25 | $707.9M | $795.0M | ||
| Q1 25 | $712.6M | $788.4M | ||
| Q4 24 | $741.7M | $793.1M | ||
| Q3 24 | $756.7M | $801.3M | ||
| Q2 24 | $733.5M | $788.4M | ||
| Q1 24 | $746.4M | $825.3M |
| Q4 25 | 1.59× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.25× | ||
| Q4 24 | 1.17× | 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 | $-5.8M | $-4.1M |
| Free Cash FlowOCF − Capex | $-25.0M | $-11.3M |
| FCF MarginFCF / Revenue | -17.7% | -7.6% |
| Capex IntensityCapex / Revenue | 13.6% | 4.8% |
| Cash ConversionOCF / Net Profit | — | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | $-23.4M | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-5.8M | $-4.1M | ||
| Q3 25 | $5.9M | $19.4M | ||
| Q2 25 | $12.2M | $-13.8M | ||
| Q1 25 | $5.0M | $15.6M | ||
| Q4 24 | $15.2M | $14.0M | ||
| Q3 24 | $15.5M | $15.7M | ||
| Q2 24 | $18.7M | $37.8M | ||
| Q1 24 | $9.6M | $12.9M |
| Q4 25 | $-25.0M | $-11.3M | ||
| Q3 25 | $2.5M | $9.0M | ||
| Q2 25 | $5.9M | $-26.0M | ||
| Q1 25 | $-6.8M | $12.3M | ||
| Q4 24 | $-39.9M | $12.5M | ||
| Q3 24 | $-33.6M | $13.3M | ||
| Q2 24 | $4.1M | $35.8M | ||
| Q1 24 | $-12.2M | $10.4M |
| Q4 25 | -17.7% | -7.6% | ||
| Q3 25 | 1.7% | 6.6% | ||
| Q2 25 | 3.9% | -23.5% | ||
| Q1 25 | -4.4% | 15.4% | ||
| Q4 24 | -24.0% | 11.6% | ||
| Q3 24 | -18.4% | 13.0% | ||
| Q2 24 | 2.2% | 36.1% | ||
| Q1 24 | -6.7% | 11.4% |
| Q4 25 | 13.6% | 4.8% | ||
| Q3 25 | 2.3% | 7.7% | ||
| Q2 25 | 4.2% | 11.0% | ||
| Q1 25 | 7.6% | 4.0% | ||
| Q4 24 | 33.1% | 1.4% | ||
| Q3 24 | 26.9% | 2.3% | ||
| Q2 24 | 8.0% | 2.0% | ||
| Q1 24 | 12.0% | 2.7% |
| Q4 25 | — | -0.50× | ||
| Q3 25 | — | 1.63× | ||
| Q2 25 | — | -1.00× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.79× | ||
| Q3 24 | 6.44× | — | ||
| Q2 24 | — | 3.21× | ||
| Q1 24 | 34.11× | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PAMT
| Freight Transportation Service | $123.1M | 87% |
| Fuel Surcharge | $18.2M | 13% |
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
