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Side-by-side financial comparison of Shoals Technologies Group, Inc. (SHLS) and TANGER INC. (SKT). Click either name above to swap in a different company.
TANGER INC. is the larger business by last-quarter revenue ($150.4M vs $148.3M, roughly 1.0× Shoals Technologies Group, Inc.). TANGER INC. runs the higher net margin — 19.6% vs 5.5%, a 14.1% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs 11.1%). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs 8.0%).
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.
Tanger Inc. is a real estate investment trust headquartered in Greensboro, North Carolina, that invests in open air outlet and lifestyle shopping centers in the United States and Canada.
SHLS vs SKT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $148.3M | $150.4M |
| Net Profit | $8.1M | $29.4M |
| Gross Margin | 31.6% | — |
| Operating Margin | 11.7% | — |
| Net Margin | 5.5% | 19.6% |
| Revenue YoY | 38.6% | 11.1% |
| Net Profit YoY | 3.9% | 47.1% |
| EPS (diluted) | $0.05 | $1.05 |
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 | — | $150.4M | ||
| Q4 25 | $148.3M | $151.0M | ||
| Q3 25 | $135.8M | $145.2M | ||
| Q2 25 | $110.8M | $140.7M | ||
| Q1 25 | $80.4M | $135.4M | ||
| Q4 24 | $107.0M | $132.2M | ||
| Q3 24 | $102.2M | $133.0M | ||
| Q2 24 | $99.2M | $129.0M |
| Q1 26 | — | $29.4M | ||
| Q4 25 | $8.1M | — | ||
| Q3 25 | $11.9M | $32.0M | ||
| Q2 25 | $13.9M | $30.1M | ||
| Q1 25 | $-282.0K | $19.2M | ||
| Q4 24 | $7.8M | — | ||
| Q3 24 | $-267.0K | $24.9M | ||
| Q2 24 | $11.8M | $24.8M |
| Q1 26 | — | — | ||
| Q4 25 | 31.6% | — | ||
| Q3 25 | 37.0% | — | ||
| Q2 25 | 37.2% | — | ||
| Q1 25 | 35.0% | — | ||
| Q4 24 | 37.6% | — | ||
| Q3 24 | 24.8% | — | ||
| Q2 24 | 40.3% | — |
| Q1 26 | — | — | ||
| Q4 25 | 11.7% | — | ||
| Q3 25 | 13.7% | 20.1% | ||
| Q2 25 | 14.4% | 20.1% | ||
| Q1 25 | 5.4% | 13.0% | ||
| Q4 24 | 15.4% | — | ||
| Q3 24 | 4.4% | 17.8% | ||
| Q2 24 | 18.7% | 17.8% |
| Q1 26 | — | 19.6% | ||
| Q4 25 | 5.5% | — | ||
| Q3 25 | 8.7% | 22.1% | ||
| Q2 25 | 12.5% | 21.4% | ||
| Q1 25 | -0.4% | 14.2% | ||
| Q4 24 | 7.3% | — | ||
| Q3 24 | -0.3% | 18.7% | ||
| Q2 24 | 11.9% | 19.3% |
| Q1 26 | — | $1.05 | ||
| Q4 25 | $0.05 | — | ||
| Q3 25 | $0.07 | $0.28 | ||
| Q2 25 | $0.08 | $0.26 | ||
| Q1 25 | $0.00 | $0.17 | ||
| Q4 24 | $0.04 | — | ||
| Q3 24 | $0.00 | $0.22 | ||
| Q2 24 | $0.07 | $0.22 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $7.3M | $227.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $600.0M | $697.8M |
| Total Assets | $904.1M | $2.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $227.4M | ||
| Q4 25 | $7.3M | $18.1M | ||
| Q3 25 | $8.6M | $13.0M | ||
| Q2 25 | $4.7M | $9.7M | ||
| Q1 25 | $35.6M | $10.2M | ||
| Q4 24 | $23.5M | $47.0M | ||
| Q3 24 | $11.1M | $11.1M | ||
| Q2 24 | $3.2M | $11.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $1.6B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | $141.8M | $1.6B | ||
| Q4 24 | $141.8M | $1.4B | ||
| Q3 24 | $141.8M | $1.4B | ||
| Q2 24 | $146.8M | $1.5B |
| Q1 26 | — | $697.8M | ||
| Q4 25 | $600.0M | — | ||
| Q3 25 | $589.6M | $703.6M | ||
| Q2 25 | $575.4M | $635.2M | ||
| Q1 25 | $558.9M | $633.9M | ||
| Q4 24 | $556.8M | $652.4M | ||
| Q3 24 | $545.2M | $568.3M | ||
| Q2 24 | $544.6M | $553.7M |
| Q1 26 | — | $2.8B | ||
| Q4 25 | $904.1M | — | ||
| Q3 25 | $851.8M | $2.6B | ||
| Q2 25 | $795.0M | $2.5B | ||
| Q1 25 | $788.4M | $2.5B | ||
| Q4 24 | $793.1M | $2.4B | ||
| Q3 24 | $801.3M | $2.3B | ||
| Q2 24 | $788.4M | $2.3B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 2.29× | ||
| Q2 25 | — | 2.40× | ||
| Q1 25 | 0.25× | 2.47× | ||
| Q4 24 | 0.25× | 2.18× | ||
| Q3 24 | 0.26× | 2.51× | ||
| Q2 24 | 0.27× | 2.64× |
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 | $-4.1M | — |
| Free Cash FlowOCF − Capex | $-11.3M | — |
| FCF MarginFCF / Revenue | -7.6% | — |
| Capex IntensityCapex / Revenue | 4.8% | 6.6% |
| Cash ConversionOCF / Net Profit | -0.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-16.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-4.1M | — | ||
| Q3 25 | $19.4M | $74.3M | ||
| Q2 25 | $-13.8M | $82.0M | ||
| Q1 25 | $15.6M | $41.4M | ||
| Q4 24 | $14.0M | — | ||
| Q3 24 | $15.7M | $65.2M | ||
| Q2 24 | $37.8M | $72.8M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | 6.6% | ||
| 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 26 | — | — | ||
| Q4 25 | -0.50× | — | ||
| Q3 25 | 1.63× | 2.32× | ||
| Q2 25 | -1.00× | 2.73× | ||
| Q1 25 | — | 2.16× | ||
| Q4 24 | 1.79× | — | ||
| Q3 24 | — | 2.62× | ||
| Q2 24 | 3.21× | 2.93× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
SKT
| Rental revenue | $143.5M | 95% |
| Other revenue | $4.7M | 3% |
| Management, leasing and other services | $2.2M | 1% |
