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Side-by-side financial comparison of Palomar Holdings, Inc. (PLMR) and Shoals Technologies Group, Inc. (SHLS). Click either name above to swap in a different company.
Palomar Holdings, Inc. is the larger business by last-quarter revenue ($253.4M vs $148.3M, roughly 1.7× Shoals Technologies Group, Inc.). On growth, Palomar Holdings, Inc. posted the faster year-over-year revenue change (62.7% vs 38.6%). Palomar Holdings, Inc. produced more free cash flow last quarter ($409.0M vs $-11.3M). Over the past eight quarters, Palomar Holdings, Inc.'s revenue compounded faster (46.2% CAGR vs 27.8%).
Palomar Holdings, Inc. is a specialty insurance holding company that primarily provides property insurance products for catastrophe-exposed residential and commercial assets. It mainly operates across the United States, focusing on core segments including earthquake, flood, and windstorm coverage to meet high-risk property protection demands of customers.
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.
PLMR vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $253.4M | $148.3M |
| Net Profit | — | $8.1M |
| Gross Margin | — | 31.6% |
| Operating Margin | 28.7% | 11.7% |
| Net Margin | — | 5.5% |
| Revenue YoY | 62.7% | 38.6% |
| Net Profit YoY | — | 3.9% |
| EPS (diluted) | $2.05 | $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 | $253.4M | $148.3M | ||
| Q3 25 | $244.7M | $135.8M | ||
| Q2 25 | $203.3M | $110.8M | ||
| Q1 25 | $174.6M | $80.4M | ||
| Q4 24 | $155.8M | $107.0M | ||
| Q3 24 | $148.5M | $102.2M | ||
| Q2 24 | $131.1M | $99.2M | ||
| Q1 24 | $118.5M | $90.8M |
| Q4 25 | — | $8.1M | ||
| Q3 25 | $51.5M | $11.9M | ||
| Q2 25 | $46.5M | $13.9M | ||
| Q1 25 | $42.9M | $-282.0K | ||
| Q4 24 | — | $7.8M | ||
| Q3 24 | $30.5M | $-267.0K | ||
| Q2 24 | $25.7M | $11.8M | ||
| Q1 24 | $26.4M | $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 | 28.7% | 11.7% | ||
| Q3 25 | 27.4% | 13.7% | ||
| Q2 25 | 29.5% | 14.4% | ||
| Q1 25 | 30.8% | 5.4% | ||
| Q4 24 | 28.9% | 15.4% | ||
| Q3 24 | 25.9% | 4.4% | ||
| Q2 24 | 25.5% | 18.7% | ||
| Q1 24 | 29.0% | 12.8% |
| Q4 25 | — | 5.5% | ||
| Q3 25 | 21.0% | 8.7% | ||
| Q2 25 | 22.9% | 12.5% | ||
| Q1 25 | 24.6% | -0.4% | ||
| Q4 24 | — | 7.3% | ||
| Q3 24 | 20.5% | -0.3% | ||
| Q2 24 | 19.6% | 11.9% | ||
| Q1 24 | 22.3% | 5.3% |
| Q4 25 | $2.05 | $0.05 | ||
| Q3 25 | $1.87 | $0.07 | ||
| Q2 25 | $1.68 | $0.08 | ||
| Q1 25 | $1.57 | $0.00 | ||
| Q4 24 | $1.29 | $0.04 | ||
| Q3 24 | $1.15 | $0.00 | ||
| Q2 24 | $1.00 | $0.07 | ||
| Q1 24 | $1.04 | $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 | $106.9M | $7.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $942.7M | $600.0M |
| Total Assets | $3.1B | $904.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $106.9M | $7.3M | ||
| Q3 25 | $111.7M | $8.6M | ||
| Q2 25 | $81.3M | $4.7M | ||
| Q1 25 | $119.3M | $35.6M | ||
| Q4 24 | $80.4M | $23.5M | ||
| Q3 24 | $86.5M | $11.1M | ||
| Q2 24 | $47.8M | $3.2M | ||
| Q1 24 | $61.4M | $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 | $942.7M | $600.0M | ||
| Q3 25 | $878.1M | $589.6M | ||
| Q2 25 | $847.2M | $575.4M | ||
| Q1 25 | $790.4M | $558.9M | ||
| Q4 24 | $729.0M | $556.8M | ||
| Q3 24 | $703.3M | $545.2M | ||
| Q2 24 | $532.6M | $544.6M | ||
| Q1 24 | $501.7M | $554.0M |
| Q4 25 | $3.1B | $904.1M | ||
| Q3 25 | $2.9B | $851.8M | ||
| Q2 25 | $2.8B | $795.0M | ||
| Q1 25 | $2.4B | $788.4M | ||
| Q4 24 | $2.3B | $793.1M | ||
| Q3 24 | $2.3B | $801.3M | ||
| Q2 24 | $2.0B | $788.4M | ||
| Q1 24 | $1.9B | $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 | $409.1M | $-4.1M |
| Free Cash FlowOCF − Capex | $409.0M | $-11.3M |
| FCF MarginFCF / Revenue | 161.4% | -7.6% |
| Capex IntensityCapex / Revenue | 0.1% | 4.8% |
| Cash ConversionOCF / Net Profit | — | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | $700.6M | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $409.1M | $-4.1M | ||
| Q3 25 | $83.6M | $19.4M | ||
| Q2 25 | $120.9M | $-13.8M | ||
| Q1 25 | $87.2M | $15.6M | ||
| Q4 24 | $261.2M | $14.0M | ||
| Q3 24 | $100.3M | $15.7M | ||
| Q2 24 | $55.1M | $37.8M | ||
| Q1 24 | $33.1M | $12.9M |
| Q4 25 | $409.0M | $-11.3M | ||
| Q3 25 | $83.6M | $9.0M | ||
| Q2 25 | $120.8M | $-26.0M | ||
| Q1 25 | $87.1M | $12.3M | ||
| Q4 24 | $260.9M | $12.5M | ||
| Q3 24 | $100.1M | $13.3M | ||
| Q2 24 | — | $35.8M | ||
| Q1 24 | — | $10.4M |
| Q4 25 | 161.4% | -7.6% | ||
| Q3 25 | 34.2% | 6.6% | ||
| Q2 25 | 59.4% | -23.5% | ||
| Q1 25 | 49.9% | 15.4% | ||
| Q4 24 | 167.5% | 11.6% | ||
| Q3 24 | 67.4% | 13.0% | ||
| Q2 24 | — | 36.1% | ||
| Q1 24 | — | 11.4% |
| Q4 25 | 0.1% | 4.8% | ||
| Q3 25 | 0.0% | 7.7% | ||
| Q2 25 | 0.0% | 11.0% | ||
| Q1 25 | 0.0% | 4.0% | ||
| Q4 24 | 0.2% | 1.4% | ||
| Q3 24 | 0.1% | 2.3% | ||
| Q2 24 | 0.0% | 2.0% | ||
| Q1 24 | 0.0% | 2.7% |
| Q4 25 | — | -0.50× | ||
| Q3 25 | 1.63× | 1.63× | ||
| Q2 25 | 2.60× | -1.00× | ||
| Q1 25 | 2.03× | — | ||
| Q4 24 | — | 1.79× | ||
| Q3 24 | 3.29× | — | ||
| Q2 24 | 2.14× | 3.21× | ||
| Q1 24 | 1.26× | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PLMR
Segment breakdown not available.
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
