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Side-by-side financial comparison of SOLAREDGE TECHNOLOGIES, INC. (SEDG) and Shoals Technologies Group, Inc. (SHLS). Click either name above to swap in a different company.
SOLAREDGE TECHNOLOGIES, INC. is the larger business by last-quarter revenue ($335.4M vs $148.3M, roughly 2.3× Shoals Technologies Group, Inc.). Shoals Technologies Group, Inc. runs the higher net margin — 5.5% vs -39.4%, a 44.9% gap on every dollar of revenue. On growth, SOLAREDGE TECHNOLOGIES, INC. posted the faster year-over-year revenue change (70.9% vs 38.6%). SOLAREDGE TECHNOLOGIES, INC. produced more free cash flow last quarter ($43.3M vs $-11.3M). Over the past eight quarters, SOLAREDGE TECHNOLOGIES, INC.'s revenue compounded faster (28.1% CAGR vs 27.8%).
SolarEdge Technologies, Inc. is an Israeli company that developed a DC optimized inverter system.
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.
SEDG vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $335.4M | $148.3M |
| Net Profit | $-132.1M | $8.1M |
| Gross Margin | 22.2% | 31.6% |
| Operating Margin | -14.4% | 11.7% |
| Net Margin | -39.4% | 5.5% |
| Revenue YoY | 70.9% | 38.6% |
| Net Profit YoY | 54.0% | 3.9% |
| EPS (diluted) | $-2.21 | $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 | $335.4M | $148.3M | ||
| Q3 25 | $340.2M | $135.8M | ||
| Q2 25 | $289.4M | $110.8M | ||
| Q1 25 | $219.5M | $80.4M | ||
| Q4 24 | $196.2M | $107.0M | ||
| Q3 24 | $235.4M | $102.2M | ||
| Q2 24 | $265.4M | $99.2M | ||
| Q1 24 | $204.4M | $90.8M |
| Q4 25 | $-132.1M | $8.1M | ||
| Q3 25 | $-50.1M | $11.9M | ||
| Q2 25 | $-124.7M | $13.9M | ||
| Q1 25 | $-98.5M | $-282.0K | ||
| Q4 24 | $-287.4M | $7.8M | ||
| Q3 24 | $-1.2B | $-267.0K | ||
| Q2 24 | $-130.8M | $11.8M | ||
| Q1 24 | $-157.3M | $4.8M |
| Q4 25 | 22.2% | 31.6% | ||
| Q3 25 | 21.2% | 37.0% | ||
| Q2 25 | 11.1% | 37.2% | ||
| Q1 25 | 8.0% | 35.0% | ||
| Q4 24 | -57.2% | 37.6% | ||
| Q3 24 | -309.1% | 24.8% | ||
| Q2 24 | -4.1% | 40.3% | ||
| Q1 24 | -12.8% | 40.2% |
| Q4 25 | -14.4% | 11.7% | ||
| Q3 25 | -10.3% | 13.7% | ||
| Q2 25 | -39.9% | 14.4% | ||
| Q1 25 | -46.8% | 5.4% | ||
| Q4 24 | -134.4% | 15.4% | ||
| Q3 24 | -471.8% | 4.4% | ||
| Q2 24 | -60.4% | 18.7% | ||
| Q1 24 | -85.0% | 12.8% |
| Q4 25 | -39.4% | 5.5% | ||
| Q3 25 | -14.7% | 8.7% | ||
| Q2 25 | -43.1% | 12.5% | ||
| Q1 25 | -44.9% | -0.4% | ||
| Q4 24 | -146.5% | 7.3% | ||
| Q3 24 | -522.8% | -0.3% | ||
| Q2 24 | -49.3% | 11.9% | ||
| Q1 24 | -77.0% | 5.3% |
| Q4 25 | $-2.21 | $0.05 | ||
| Q3 25 | $-0.84 | $0.07 | ||
| Q2 25 | $-2.13 | $0.08 | ||
| Q1 25 | $-1.70 | $0.00 | ||
| Q4 24 | $-5.00 | $0.04 | ||
| Q3 24 | $-21.58 | $0.00 | ||
| Q2 24 | $-2.31 | $0.07 | ||
| Q1 24 | $-2.75 | $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 | $493.2M | $7.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $427.5M | $600.0M |
| Total Assets | $2.2B | $904.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $493.2M | $7.3M | ||
| Q3 25 | $498.6M | $8.6M | ||
| Q2 25 | $758.0M | $4.7M | ||
| Q1 25 | $651.6M | $35.6M | ||
| Q4 24 | $585.9M | $23.5M | ||
| Q3 24 | $678.8M | $11.1M | ||
| Q2 24 | $689.8M | $3.2M | ||
| Q1 24 | $680.6M | $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 | $427.5M | $600.0M | ||
| Q3 25 | $479.8M | $589.6M | ||
| Q2 25 | $513.2M | $575.4M | ||
| Q1 25 | $594.2M | $558.9M | ||
| Q4 24 | $658.3M | $556.8M | ||
| Q3 24 | $930.9M | $545.2M | ||
| Q2 24 | $2.1B | $544.6M | ||
| Q1 24 | $2.2B | $554.0M |
| Q4 25 | $2.2B | $904.1M | ||
| Q3 25 | $2.2B | $851.8M | ||
| Q2 25 | $2.5B | $795.0M | ||
| Q1 25 | $2.5B | $788.4M | ||
| Q4 24 | $2.6B | $793.1M | ||
| Q3 24 | $2.8B | $801.3M | ||
| Q2 24 | $3.9B | $788.4M | ||
| Q1 24 | $4.2B | $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 | $52.6M | $-4.1M |
| Free Cash FlowOCF − Capex | $43.3M | $-11.3M |
| FCF MarginFCF / Revenue | 12.9% | -7.6% |
| Capex IntensityCapex / Revenue | 2.8% | 4.8% |
| Cash ConversionOCF / Net Profit | — | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | $80.8M | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $52.6M | $-4.1M | ||
| Q3 25 | $25.6M | $19.4M | ||
| Q2 25 | $-7.8M | $-13.8M | ||
| Q1 25 | $33.8M | $15.6M | ||
| Q4 24 | $37.8M | $14.0M | ||
| Q3 24 | $-89.3M | $15.7M | ||
| Q2 24 | $-44.8M | $37.8M | ||
| Q1 24 | $-217.0M | $12.9M |
| Q4 25 | $43.3M | $-11.3M | ||
| Q3 25 | $22.8M | $9.0M | ||
| Q2 25 | $-9.1M | $-26.0M | ||
| Q1 25 | $23.7M | $12.3M | ||
| Q4 24 | $25.5M | $12.5M | ||
| Q3 24 | $-136.7M | $13.3M | ||
| Q2 24 | $-67.0M | $35.8M | ||
| Q1 24 | $-243.4M | $10.4M |
| Q4 25 | 12.9% | -7.6% | ||
| Q3 25 | 6.7% | 6.6% | ||
| Q2 25 | -3.1% | -23.5% | ||
| Q1 25 | 10.8% | 15.4% | ||
| Q4 24 | 13.0% | 11.6% | ||
| Q3 24 | -58.1% | 13.0% | ||
| Q2 24 | -25.2% | 36.1% | ||
| Q1 24 | -119.1% | 11.4% |
| Q4 25 | 2.8% | 4.8% | ||
| Q3 25 | 0.8% | 7.7% | ||
| Q2 25 | 0.4% | 11.0% | ||
| Q1 25 | 4.6% | 4.0% | ||
| Q4 24 | 6.2% | 1.4% | ||
| Q3 24 | 20.1% | 2.3% | ||
| Q2 24 | 8.4% | 2.0% | ||
| Q1 24 | 12.9% | 2.7% |
| Q4 25 | — | -0.50× | ||
| Q3 25 | — | 1.63× | ||
| Q2 25 | — | -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
SEDG
| Other | $197.7M | 59% |
| Europe Except Netherlands | $99.4M | 30% |
| Others | $38.2M | 11% |
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
