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Side-by-side financial comparison of BRC Group Holdings, Inc. (RILY) and Shoals Technologies Group, Inc. (SHLS). Click either name above to swap in a different company.
BRC Group Holdings, Inc. is the larger business by last-quarter revenue ($188.3M vs $148.3M, roughly 1.3× Shoals Technologies Group, Inc.). BRC Group Holdings, Inc. runs the higher net margin — 47.9% vs 5.5%, a 42.5% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs -21.9%). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs -15.4%).
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.
RILY vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $188.3M | $148.3M |
| Net Profit | $90.3M | $8.1M |
| Gross Margin | 79.5% | 31.6% |
| Operating Margin | 32.3% | 11.7% |
| Net Margin | 47.9% | 5.5% |
| Revenue YoY | -21.9% | 38.6% |
| Net Profit YoY | 1710.8% | 3.9% |
| EPS (diluted) | $2.78 | $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 | $188.3M | $148.3M | ||
| Q3 25 | $215.3M | $135.8M | ||
| Q2 25 | $188.2M | $110.8M | ||
| Q1 25 | $197.2M | $80.4M | ||
| Q4 24 | $241.0M | $107.0M | ||
| Q3 24 | $225.5M | $102.2M | ||
| Q2 24 | $256.0M | $99.2M | ||
| Q1 24 | $263.4M | $90.8M |
| Q4 25 | $90.3M | $8.1M | ||
| Q3 25 | $91.1M | $11.9M | ||
| Q2 25 | $139.5M | $13.9M | ||
| Q1 25 | $-10.0M | $-282.0K | ||
| Q4 24 | $-5.6M | $7.8M | ||
| Q3 24 | $-284.4M | $-267.0K | ||
| Q2 24 | $-433.6M | $11.8M | ||
| Q1 24 | $-49.2M | $4.8M |
| Q4 25 | 79.5% | 31.6% | ||
| Q3 25 | 83.7% | 37.0% | ||
| Q2 25 | 81.3% | 37.2% | ||
| Q1 25 | 81.4% | 35.0% | ||
| Q4 24 | 79.8% | 37.6% | ||
| Q3 24 | 82.1% | 24.8% | ||
| Q2 24 | 84.5% | 40.3% | ||
| Q1 24 | 85.3% | 40.2% |
| Q4 25 | 32.3% | 11.7% | ||
| Q3 25 | 30.4% | 13.7% | ||
| Q2 25 | 5.7% | 14.4% | ||
| Q1 25 | -31.2% | 5.4% | ||
| Q4 24 | -69.2% | 15.4% | ||
| Q3 24 | -36.4% | 4.4% | ||
| Q2 24 | -90.8% | 18.7% | ||
| Q1 24 | -6.1% | 12.8% |
| Q4 25 | 47.9% | 5.5% | ||
| Q3 25 | 42.3% | 8.7% | ||
| Q2 25 | 74.1% | 12.5% | ||
| Q1 25 | -5.1% | -0.4% | ||
| Q4 24 | -2.3% | 7.3% | ||
| Q3 24 | -126.1% | -0.3% | ||
| Q2 24 | -169.4% | 11.9% | ||
| Q1 24 | -18.7% | 5.3% |
| Q4 25 | $2.78 | $0.05 | ||
| Q3 25 | $2.91 | $0.07 | ||
| Q2 25 | $4.50 | $0.08 | ||
| Q1 25 | $-0.39 | $0.00 | ||
| Q4 24 | $-0.01 | $0.04 | ||
| Q3 24 | $-9.39 | $0.00 | ||
| Q2 24 | $-14.35 | $0.07 | ||
| Q1 24 | $-1.71 | $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 | $226.6M | $7.3M |
| Total DebtLower is stronger | $1.4B | — |
| Stockholders' EquityBook value | $-171.5M | $600.0M |
| Total Assets | $1.7B | $904.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $226.6M | $7.3M | ||
| Q3 25 | $184.2M | $8.6M | ||
| Q2 25 | $267.4M | $4.7M | ||
| Q1 25 | $138.3M | $35.6M | ||
| Q4 24 | $146.9M | $23.5M | ||
| Q3 24 | $159.2M | $11.1M | ||
| Q2 24 | $236.9M | $3.2M | ||
| Q1 24 | $190.7M | $15.2M |
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.4B | $141.8M | ||
| Q4 24 | $1.5B | $141.8M | ||
| Q3 24 | — | $141.8M | ||
| Q2 24 | — | $146.8M | ||
| Q1 24 | — | $168.8M |
| Q4 25 | $-171.5M | $600.0M | ||
| Q3 25 | $-260.5M | $589.6M | ||
| Q2 25 | $-351.7M | $575.4M | ||
| Q1 25 | $-496.8M | $558.9M | ||
| Q4 24 | $-488.2M | $556.8M | ||
| Q3 24 | $-497.6M | $545.2M | ||
| Q2 24 | $-218.3M | $544.6M | ||
| Q1 24 | $228.4M | $554.0M |
| Q4 25 | $1.7B | $904.1M | ||
| Q3 25 | $1.7B | $851.8M | ||
| Q2 25 | $1.5B | $795.0M | ||
| Q1 25 | $1.5B | $788.4M | ||
| Q4 24 | $1.8B | $793.1M | ||
| Q3 24 | $2.2B | $801.3M | ||
| Q2 24 | $3.2B | $788.4M | ||
| Q1 24 | $5.0B | $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 | $26.2M | $-4.1M |
| Free Cash FlowOCF − Capex | — | $-11.3M |
| FCF MarginFCF / Revenue | — | -7.6% |
| Capex IntensityCapex / Revenue | — | 4.8% |
| Cash ConversionOCF / Net Profit | 0.29× | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.2M | $-4.1M | ||
| Q3 25 | $-60.6M | $19.4M | ||
| Q2 25 | $-25.6M | $-13.8M | ||
| Q1 25 | $184.0K | $15.6M | ||
| Q4 24 | $-2.7M | $14.0M | ||
| Q3 24 | $19.5M | $15.7M | ||
| Q2 24 | $111.5M | $37.8M | ||
| Q1 24 | $135.4M | $12.9M |
| Q4 25 | — | $-11.3M | ||
| Q3 25 | — | $9.0M | ||
| Q2 25 | — | $-26.0M | ||
| Q1 25 | — | $12.3M | ||
| Q4 24 | — | $12.5M | ||
| Q3 24 | — | $13.3M | ||
| Q2 24 | — | $35.8M | ||
| Q1 24 | — | $10.4M |
| Q4 25 | — | -7.6% | ||
| Q3 25 | — | 6.6% | ||
| Q2 25 | — | -23.5% | ||
| Q1 25 | — | 15.4% | ||
| Q4 24 | — | 11.6% | ||
| Q3 24 | — | 13.0% | ||
| Q2 24 | — | 36.1% | ||
| Q1 24 | — | 11.4% |
| Q4 25 | — | 4.8% | ||
| Q3 25 | — | 7.7% | ||
| Q2 25 | — | 11.0% | ||
| Q1 25 | — | 4.0% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 2.3% | ||
| Q2 24 | — | 2.0% | ||
| Q1 24 | — | 2.7% |
| Q4 25 | 0.29× | -0.50× | ||
| Q3 25 | -0.66× | 1.63× | ||
| Q2 25 | -0.18× | -1.00× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.79× | ||
| Q3 24 | — | — | ||
| 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
RILY
| Transferred At Point In Time | $101.4M | 54% |
| Wealth Management Segment | $30.7M | 16% |
| Corporate Finance Consulting And Investment Banking Fees | $27.1M | 14% |
| Services And Fees | $24.8M | 13% |
| Commissions Fees And Reimbursed Expenses | $4.8M | 3% |
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
