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Side-by-side financial comparison of Smith Douglas Homes Corp. (SDHC) and Shoals Technologies Group, Inc. (SHLS). Click either name above to swap in a different company.
Smith Douglas Homes Corp. is the larger business by last-quarter revenue ($260.4M vs $148.3M, roughly 1.8× Shoals Technologies Group, Inc.). Shoals Technologies Group, Inc. runs the higher net margin — 5.5% vs 1.4%, a 4.1% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs -9.4%). Smith Douglas Homes Corp. produced more free cash flow last quarter ($8.7M vs $-11.3M). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs 17.3%).
Smith & Wesson Brands, Inc. (S&W) is an American firearm manufacturer headquartered in Maryville, Tennessee, United States.
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.
SDHC vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $260.4M | $148.3M |
| Net Profit | $3.5M | $8.1M |
| Gross Margin | 19.9% | 31.6% |
| Operating Margin | 6.5% | 11.7% |
| Net Margin | 1.4% | 5.5% |
| Revenue YoY | -9.4% | 38.6% |
| Net Profit YoY | -14.3% | 3.9% |
| EPS (diluted) | $0.39 | $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 | $260.4M | $148.3M | ||
| Q3 25 | $262.0M | $135.8M | ||
| Q2 25 | $223.9M | $110.8M | ||
| Q1 25 | $224.7M | $80.4M | ||
| Q4 24 | $287.5M | $107.0M | ||
| Q3 24 | $277.8M | $102.2M | ||
| Q2 24 | $220.9M | $99.2M | ||
| Q1 24 | $189.2M | $90.8M |
| Q4 25 | $3.5M | $8.1M | ||
| Q3 25 | $2.1M | $11.9M | ||
| Q2 25 | $2.4M | $13.9M | ||
| Q1 25 | $2.7M | $-282.0K | ||
| Q4 24 | $4.1M | $7.8M | ||
| Q3 24 | $5.3M | $-267.0K | ||
| Q2 24 | $3.6M | $11.8M | ||
| Q1 24 | $3.0M | $4.8M |
| Q4 25 | 19.9% | 31.6% | ||
| Q3 25 | 21.0% | 37.0% | ||
| Q2 25 | 23.2% | 37.2% | ||
| Q1 25 | 23.8% | 35.0% | ||
| Q4 24 | 25.5% | 37.6% | ||
| Q3 24 | 26.5% | 24.8% | ||
| Q2 24 | 26.7% | 40.3% | ||
| Q1 24 | 26.1% | 40.2% |
| Q4 25 | 6.5% | 11.7% | ||
| Q3 25 | 6.6% | 13.7% | ||
| Q2 25 | 7.7% | 14.4% | ||
| Q1 25 | 8.7% | 5.4% | ||
| Q4 24 | 10.4% | 15.4% | ||
| Q3 24 | 14.2% | 4.4% | ||
| Q2 24 | 11.7% | 18.7% | ||
| Q1 24 | 11.3% | 12.8% |
| Q4 25 | 1.4% | 5.5% | ||
| Q3 25 | 0.8% | 8.7% | ||
| Q2 25 | 1.1% | 12.5% | ||
| Q1 25 | 1.2% | -0.4% | ||
| Q4 24 | 1.4% | 7.3% | ||
| Q3 24 | 1.9% | -0.3% | ||
| Q2 24 | 1.7% | 11.9% | ||
| Q1 24 | 1.6% | 5.3% |
| Q4 25 | $0.39 | $0.05 | ||
| Q3 25 | $0.24 | $0.07 | ||
| Q2 25 | $0.26 | $0.08 | ||
| Q1 25 | $0.30 | $0.00 | ||
| Q4 24 | $0.50 | $0.04 | ||
| Q3 24 | $0.58 | $0.00 | ||
| Q2 24 | $0.40 | $0.07 | ||
| Q1 24 | $0.33 | $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 | $12.7M | $7.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $86.7M | $600.0M |
| Total Assets | $557.6M | $904.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.7M | $7.3M | ||
| Q3 25 | $14.8M | $8.6M | ||
| Q2 25 | $16.8M | $4.7M | ||
| Q1 25 | $12.7M | $35.6M | ||
| Q4 24 | $22.4M | $23.5M | ||
| Q3 24 | $23.7M | $11.1M | ||
| Q2 24 | $17.3M | $3.2M | ||
| Q1 24 | $32.8M | $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 | $86.7M | $600.0M | ||
| Q3 25 | $82.2M | $589.6M | ||
| Q2 25 | $80.0M | $575.4M | ||
| Q1 25 | $76.9M | $558.9M | ||
| Q4 24 | $73.6M | $556.8M | ||
| Q3 24 | $68.4M | $545.2M | ||
| Q2 24 | $62.1M | $544.6M | ||
| Q1 24 | $59.7M | $554.0M |
| Q4 25 | $557.6M | $904.1M | ||
| Q3 25 | $571.6M | $851.8M | ||
| Q2 25 | $570.2M | $795.0M | ||
| Q1 25 | $513.9M | $788.4M | ||
| Q4 24 | $475.9M | $793.1M | ||
| Q3 24 | $460.1M | $801.3M | ||
| Q2 24 | $429.3M | $788.4M | ||
| Q1 24 | $401.3M | $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 | $9.8M | $-4.1M |
| Free Cash FlowOCF − Capex | $8.7M | $-11.3M |
| FCF MarginFCF / Revenue | 3.4% | -7.6% |
| Capex IntensityCapex / Revenue | 0.4% | 4.8% |
| Cash ConversionOCF / Net Profit | 2.77× | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | $-36.9M | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $9.8M | $-4.1M | ||
| Q3 25 | $22.8M | $19.4M | ||
| Q2 25 | $-28.9M | $-13.8M | ||
| Q1 25 | $-34.9M | $15.6M | ||
| Q4 24 | $5.5M | $14.0M | ||
| Q3 24 | $22.9M | $15.7M | ||
| Q2 24 | $39.0K | $37.8M | ||
| Q1 24 | $-9.3M | $12.9M |
| Q4 25 | $8.7M | $-11.3M | ||
| Q3 25 | $21.4M | $9.0M | ||
| Q2 25 | $-31.1M | $-26.0M | ||
| Q1 25 | $-35.9M | $12.3M | ||
| Q4 24 | $4.8M | $12.5M | ||
| Q3 24 | $22.3M | $13.3M | ||
| Q2 24 | $-2.1M | $35.8M | ||
| Q1 24 | $-9.7M | $10.4M |
| Q4 25 | 3.4% | -7.6% | ||
| Q3 25 | 8.2% | 6.6% | ||
| Q2 25 | -13.9% | -23.5% | ||
| Q1 25 | -16.0% | 15.4% | ||
| Q4 24 | 1.7% | 11.6% | ||
| Q3 24 | 8.0% | 13.0% | ||
| Q2 24 | -1.0% | 36.1% | ||
| Q1 24 | -5.1% | 11.4% |
| Q4 25 | 0.4% | 4.8% | ||
| Q3 25 | 0.5% | 7.7% | ||
| Q2 25 | 0.9% | 11.0% | ||
| Q1 25 | 0.5% | 4.0% | ||
| Q4 24 | 0.2% | 1.4% | ||
| Q3 24 | 0.2% | 2.3% | ||
| Q2 24 | 1.0% | 2.0% | ||
| Q1 24 | 0.2% | 2.7% |
| Q4 25 | 2.77× | -0.50× | ||
| Q3 25 | 10.70× | 1.63× | ||
| Q2 25 | -12.24× | -1.00× | ||
| Q1 25 | -13.01× | — | ||
| Q4 24 | 1.33× | 1.79× | ||
| Q3 24 | 4.28× | — | ||
| Q2 24 | 0.01× | 3.21× | ||
| Q1 24 | -3.12× | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SDHC
| Southeast | $164.7M | 63% |
| Central | $95.8M | 37% |
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
