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Side-by-side financial comparison of CPI Card Group Inc. (PMTS) and Shoals Technologies Group, Inc. (SHLS). Click either name above to swap in a different company.
CPI Card Group Inc. is the larger business by last-quarter revenue ($153.1M vs $148.3M, roughly 1.0× Shoals Technologies Group, Inc.). Shoals Technologies Group, Inc. runs the higher net margin — 5.5% vs 4.8%, a 0.7% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs 22.3%). CPI Card Group Inc. produced more free cash flow last quarter ($35.2M vs $-11.3M). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs 16.9%).
CPI Card Group Inc. is a leading provider of payment card production and associated solutions, including contactless and contact credit/debit cards, prepaid cards, and card personalization services. It primarily serves financial institutions, fintech firms, and retail brands across its core North American market.
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.
PMTS vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $153.1M | $148.3M |
| Net Profit | $7.3M | $8.1M |
| Gross Margin | 31.5% | 31.6% |
| Operating Margin | 12.0% | 11.7% |
| Net Margin | 4.8% | 5.5% |
| Revenue YoY | 22.3% | 38.6% |
| Net Profit YoY | 8.5% | 3.9% |
| EPS (diluted) | $0.62 | $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 | $153.1M | $148.3M | ||
| Q3 25 | $138.0M | $135.8M | ||
| Q2 25 | $129.8M | $110.8M | ||
| Q1 25 | $122.8M | $80.4M | ||
| Q4 24 | $125.1M | $107.0M | ||
| Q3 24 | $124.8M | $102.2M | ||
| Q2 24 | $118.8M | $99.2M | ||
| Q1 24 | $111.9M | $90.8M |
| Q4 25 | $7.3M | $8.1M | ||
| Q3 25 | $2.3M | $11.9M | ||
| Q2 25 | $518.0K | $13.9M | ||
| Q1 25 | $4.8M | $-282.0K | ||
| Q4 24 | $6.8M | $7.8M | ||
| Q3 24 | $1.3M | $-267.0K | ||
| Q2 24 | $6.0M | $11.8M | ||
| Q1 24 | $5.5M | $4.8M |
| Q4 25 | 31.5% | 31.6% | ||
| Q3 25 | 29.7% | 37.0% | ||
| Q2 25 | 30.9% | 37.2% | ||
| Q1 25 | 33.2% | 35.0% | ||
| Q4 24 | 34.1% | 37.6% | ||
| Q3 24 | 35.8% | 24.8% | ||
| Q2 24 | 35.7% | 40.3% | ||
| Q1 24 | 37.1% | 40.2% |
| Q4 25 | 12.0% | 11.7% | ||
| Q3 25 | 9.4% | 13.7% | ||
| Q2 25 | 7.3% | 14.4% | ||
| Q1 25 | 11.5% | 5.4% | ||
| Q4 24 | 12.7% | 15.4% | ||
| Q3 24 | 14.3% | 4.4% | ||
| Q2 24 | 12.5% | 18.7% | ||
| Q1 24 | 12.6% | 12.8% |
| Q4 25 | 4.8% | 5.5% | ||
| Q3 25 | 1.7% | 8.7% | ||
| Q2 25 | 0.4% | 12.5% | ||
| Q1 25 | 3.9% | -0.4% | ||
| Q4 24 | 5.4% | 7.3% | ||
| Q3 24 | 1.0% | -0.3% | ||
| Q2 24 | 5.1% | 11.9% | ||
| Q1 24 | 4.9% | 5.3% |
| Q4 25 | $0.62 | $0.05 | ||
| Q3 25 | $0.19 | $0.07 | ||
| Q2 25 | $0.04 | $0.08 | ||
| Q1 25 | $0.40 | $0.00 | ||
| Q4 24 | $0.56 | $0.04 | ||
| Q3 24 | $0.11 | $0.00 | ||
| Q2 24 | $0.51 | $0.07 | ||
| Q1 24 | $0.46 | $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 | $21.7M | $7.3M |
| Total DebtLower is stronger | $286.7M | — |
| Stockholders' EquityBook value | $-17.3M | $600.0M |
| Total Assets | $403.2M | $904.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.7M | $7.3M | ||
| Q3 25 | $16.0M | $8.6M | ||
| Q2 25 | $17.1M | $4.7M | ||
| Q1 25 | $31.5M | $35.6M | ||
| Q4 24 | $33.5M | $23.5M | ||
| Q3 24 | $14.7M | $11.1M | ||
| Q2 24 | $7.5M | $3.2M | ||
| Q1 24 | $17.1M | $15.2M |
| Q4 25 | $286.7M | — | ||
| Q3 25 | $308.4M | — | ||
| Q2 25 | $310.9M | — | ||
| Q1 25 | $280.7M | $141.8M | ||
| Q4 24 | $280.4M | $141.8M | ||
| Q3 24 | $280.2M | $141.8M | ||
| Q2 24 | $269.7M | $146.8M | ||
| Q1 24 | $265.3M | $168.8M |
| Q4 25 | $-17.3M | $600.0M | ||
| Q3 25 | $-25.7M | $589.6M | ||
| Q2 25 | $-29.0M | $575.4M | ||
| Q1 25 | $-29.7M | $558.9M | ||
| Q4 24 | $-35.6M | $556.8M | ||
| Q3 24 | $-42.8M | $545.2M | ||
| Q2 24 | $-44.6M | $544.6M | ||
| Q1 24 | $-48.5M | $554.0M |
| Q4 25 | $403.2M | $904.1M | ||
| Q3 25 | $407.1M | $851.8M | ||
| Q2 25 | $399.8M | $795.0M | ||
| Q1 25 | $351.9M | $788.4M | ||
| Q4 24 | $349.7M | $793.1M | ||
| Q3 24 | $342.3M | $801.3M | ||
| Q2 24 | $321.4M | $788.4M | ||
| Q1 24 | $319.8M | $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 | $39.6M | $-4.1M |
| Free Cash FlowOCF − Capex | $35.2M | $-11.3M |
| FCF MarginFCF / Revenue | 23.0% | -7.6% |
| Capex IntensityCapex / Revenue | 2.9% | 4.8% |
| Cash ConversionOCF / Net Profit | 5.39× | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | $41.3M | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $39.6M | $-4.1M | ||
| Q3 25 | $10.0M | $19.4M | ||
| Q2 25 | $4.3M | $-13.8M | ||
| Q1 25 | $5.6M | $15.6M | ||
| Q4 24 | $26.7M | $14.0M | ||
| Q3 24 | $12.5M | $15.7M | ||
| Q2 24 | $-4.8M | $37.8M | ||
| Q1 24 | $8.9M | $12.9M |
| Q4 25 | $35.2M | $-11.3M | ||
| Q3 25 | $5.3M | $9.0M | ||
| Q2 25 | $533.0K | $-26.0M | ||
| Q1 25 | $292.0K | $12.3M | ||
| Q4 24 | $21.6M | $12.5M | ||
| Q3 24 | $11.1M | $13.3M | ||
| Q2 24 | $-6.0M | $35.8M | ||
| Q1 24 | $7.4M | $10.4M |
| Q4 25 | 23.0% | -7.6% | ||
| Q3 25 | 3.8% | 6.6% | ||
| Q2 25 | 0.4% | -23.5% | ||
| Q1 25 | 0.2% | 15.4% | ||
| Q4 24 | 17.3% | 11.6% | ||
| Q3 24 | 8.9% | 13.0% | ||
| Q2 24 | -5.0% | 36.1% | ||
| Q1 24 | 6.6% | 11.4% |
| Q4 25 | 2.9% | 4.8% | ||
| Q3 25 | 3.4% | 7.7% | ||
| Q2 25 | 2.9% | 11.0% | ||
| Q1 25 | 4.3% | 4.0% | ||
| Q4 24 | 4.0% | 1.4% | ||
| Q3 24 | 1.2% | 2.3% | ||
| Q2 24 | 1.0% | 2.0% | ||
| Q1 24 | 1.3% | 2.7% |
| Q4 25 | 5.39× | -0.50× | ||
| Q3 25 | 4.32× | 1.63× | ||
| Q2 25 | 8.39× | -1.00× | ||
| Q1 25 | 1.17× | — | ||
| Q4 24 | 3.94× | 1.79× | ||
| Q3 24 | 9.70× | — | ||
| Q2 24 | -0.79× | 3.21× | ||
| Q1 24 | 1.63× | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PMTS
| US Debit And Credit | $128.9M | 84% |
| US Prepaid Debit | $24.4M | 16% |
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
