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Side-by-side financial comparison of ROGERS CORP (ROG) and Shoals Technologies Group, Inc. (SHLS). Click either name above to swap in a different company.
ROGERS CORP is the larger business by last-quarter revenue ($200.5M vs $148.3M, roughly 1.4× Shoals Technologies Group, Inc.). Shoals Technologies Group, Inc. runs the higher net margin — 5.5% vs 2.2%, a 3.2% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs 5.2%). ROGERS CORP produced more free cash flow last quarter ($1.1M vs $-11.3M). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs -3.3%).
Rogers Corporation is a specialty engineered materials company headquartered in Chandler, Arizona.
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.
ROG vs SHLS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $200.5M | $148.3M |
| Net Profit | $4.5M | $8.1M |
| Gross Margin | 32.2% | 31.6% |
| Operating Margin | — | 11.7% |
| Net Margin | 2.2% | 5.5% |
| Revenue YoY | 5.2% | 38.6% |
| Net Profit YoY | 421.4% | 3.9% |
| EPS (diluted) | $0.25 | $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.
| Q1 26 | $200.5M | — | ||
| Q4 25 | $201.5M | $148.3M | ||
| Q3 25 | $216.0M | $135.8M | ||
| Q2 25 | $202.8M | $110.8M | ||
| Q1 25 | $190.5M | $80.4M | ||
| Q4 24 | $192.2M | $107.0M | ||
| Q3 24 | $210.3M | $102.2M | ||
| Q2 24 | $214.2M | $99.2M |
| Q1 26 | $4.5M | — | ||
| Q4 25 | $4.6M | $8.1M | ||
| Q3 25 | $8.6M | $11.9M | ||
| Q2 25 | $-73.6M | $13.9M | ||
| Q1 25 | $-1.4M | $-282.0K | ||
| Q4 24 | $-500.0K | $7.8M | ||
| Q3 24 | $10.7M | $-267.0K | ||
| Q2 24 | $8.1M | $11.8M |
| Q1 26 | 32.2% | — | ||
| Q4 25 | 31.5% | 31.6% | ||
| Q3 25 | 33.5% | 37.0% | ||
| Q2 25 | 31.6% | 37.2% | ||
| Q1 25 | 29.9% | 35.0% | ||
| Q4 24 | 32.1% | 37.6% | ||
| Q3 24 | 35.2% | 24.8% | ||
| Q2 24 | 34.1% | 40.3% |
| Q1 26 | — | — | ||
| Q4 25 | 3.5% | 11.7% | ||
| Q3 25 | 7.3% | 13.7% | ||
| Q2 25 | -33.3% | 14.4% | ||
| Q1 25 | -0.2% | 5.4% | ||
| Q4 24 | -6.6% | 15.4% | ||
| Q3 24 | 6.9% | 4.4% | ||
| Q2 24 | 5.3% | 18.7% |
| Q1 26 | 2.2% | — | ||
| Q4 25 | 2.3% | 5.5% | ||
| Q3 25 | 4.0% | 8.7% | ||
| Q2 25 | -36.3% | 12.5% | ||
| Q1 25 | -0.7% | -0.4% | ||
| Q4 24 | -0.3% | 7.3% | ||
| Q3 24 | 5.1% | -0.3% | ||
| Q2 24 | 3.8% | 11.9% |
| Q1 26 | $0.25 | — | ||
| Q4 25 | $0.20 | $0.05 | ||
| Q3 25 | $0.48 | $0.07 | ||
| Q2 25 | $-4.00 | $0.08 | ||
| Q1 25 | $-0.08 | $0.00 | ||
| Q4 24 | $-0.04 | $0.04 | ||
| Q3 24 | $0.58 | $0.00 | ||
| Q2 24 | $0.44 | $0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $195.8M | $7.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.2B | $600.0M |
| Total Assets | $1.4B | $904.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $195.8M | — | ||
| Q4 25 | $197.0M | $7.3M | ||
| Q3 25 | $167.8M | $8.6M | ||
| Q2 25 | $157.2M | $4.7M | ||
| Q1 25 | $175.6M | $35.6M | ||
| Q4 24 | $159.8M | $23.5M | ||
| Q3 24 | $146.4M | $11.1M | ||
| Q2 24 | $119.9M | $3.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $141.8M | ||
| Q4 24 | — | $141.8M | ||
| Q3 24 | — | $141.8M | ||
| Q2 24 | — | $146.8M |
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.2B | $600.0M | ||
| Q3 25 | $1.2B | $589.6M | ||
| Q2 25 | $1.2B | $575.4M | ||
| Q1 25 | $1.3B | $558.9M | ||
| Q4 24 | $1.3B | $556.8M | ||
| Q3 24 | $1.3B | $545.2M | ||
| Q2 24 | $1.3B | $544.6M |
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.4B | $904.1M | ||
| Q3 25 | $1.4B | $851.8M | ||
| Q2 25 | $1.5B | $795.0M | ||
| Q1 25 | $1.5B | $788.4M | ||
| Q4 24 | $1.5B | $793.1M | ||
| Q3 24 | $1.5B | $801.3M | ||
| Q2 24 | $1.5B | $788.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.25× | ||
| Q4 24 | — | 0.25× | ||
| Q3 24 | — | 0.26× | ||
| Q2 24 | — | 0.27× |
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 | $1.1M | $-11.3M |
| FCF MarginFCF / Revenue | 0.5% | -7.6% |
| Capex IntensityCapex / Revenue | 2.3% | 4.8% |
| Cash ConversionOCF / Net Profit | 1.29× | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | $70.1M | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $5.8M | — | ||
| Q4 25 | $46.9M | $-4.1M | ||
| Q3 25 | $28.9M | $19.4M | ||
| Q2 25 | $13.7M | $-13.8M | ||
| Q1 25 | $11.7M | $15.6M | ||
| Q4 24 | $33.7M | $14.0M | ||
| Q3 24 | $42.4M | $15.7M | ||
| Q2 24 | $22.9M | $37.8M |
| Q1 26 | $1.1M | — | ||
| Q4 25 | $42.2M | $-11.3M | ||
| Q3 25 | $21.2M | $9.0M | ||
| Q2 25 | $5.6M | $-26.0M | ||
| Q1 25 | $2.1M | $12.3M | ||
| Q4 24 | $18.3M | $12.5M | ||
| Q3 24 | $25.2M | $13.3M | ||
| Q2 24 | $8.8M | $35.8M |
| Q1 26 | 0.5% | — | ||
| Q4 25 | 20.9% | -7.6% | ||
| Q3 25 | 9.8% | 6.6% | ||
| Q2 25 | 2.8% | -23.5% | ||
| Q1 25 | 1.1% | 15.4% | ||
| Q4 24 | 9.5% | 11.6% | ||
| Q3 24 | 12.0% | 13.0% | ||
| Q2 24 | 4.1% | 36.1% |
| Q1 26 | 2.3% | — | ||
| Q4 25 | 2.3% | 4.8% | ||
| Q3 25 | 3.6% | 7.7% | ||
| Q2 25 | 4.0% | 11.0% | ||
| Q1 25 | 5.0% | 4.0% | ||
| Q4 24 | 8.0% | 1.4% | ||
| Q3 24 | 8.2% | 2.3% | ||
| Q2 24 | 6.6% | 2.0% |
| Q1 26 | 1.29× | — | ||
| Q4 25 | 10.20× | -0.50× | ||
| Q3 25 | 3.36× | 1.63× | ||
| Q2 25 | — | -1.00× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.79× | ||
| Q3 24 | 3.96× | — | ||
| Q2 24 | 2.83× | 3.21× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ROG
Segment breakdown not available.
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
