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Side-by-side financial comparison of Shoals Technologies Group, Inc. (SHLS) and STONERIDGE INC (SRI). Click either name above to swap in a different company.
STONERIDGE INC is the larger business by last-quarter revenue ($205.2M vs $148.3M, roughly 1.4× Shoals Technologies Group, Inc.). On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs -6.0%). STONERIDGE INC produced more free cash flow last quarter ($2.6M vs $-11.3M). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs -7.4%).
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.
Stoneridge Inc is a global designer and manufacturer of advanced electrical and electronic components, integrated systems, and sensor solutions. It serves automotive, commercial vehicle, off-highway, and aerospace sectors, delivering products that boost vehicle safety, efficiency, connectivity, and environmental performance across key global markets.
SHLS vs SRI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $148.3M | $205.2M |
| Net Profit | $8.1M | — |
| Gross Margin | 31.6% | 16.2% |
| Operating Margin | 11.7% | -14.4% |
| Net Margin | 5.5% | — |
| Revenue YoY | 38.6% | -6.0% |
| Net Profit YoY | 3.9% | — |
| EPS (diluted) | $0.05 | $-2.76 |
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 | $148.3M | $205.2M | ||
| Q3 25 | $135.8M | $210.3M | ||
| Q2 25 | $110.8M | $228.0M | ||
| Q1 25 | $80.4M | $217.9M | ||
| Q4 24 | $107.0M | $218.2M | ||
| Q3 24 | $102.2M | $213.8M | ||
| Q2 24 | $99.2M | $237.1M | ||
| Q1 24 | $90.8M | $239.2M |
| Q4 25 | $8.1M | — | ||
| Q3 25 | $11.9M | $-9.4M | ||
| Q2 25 | $13.9M | $-9.4M | ||
| Q1 25 | $-282.0K | $-7.2M | ||
| Q4 24 | $7.8M | — | ||
| Q3 24 | $-267.0K | $-7.1M | ||
| Q2 24 | $11.8M | $2.8M | ||
| Q1 24 | $4.8M | $-6.1M |
| Q4 25 | 31.6% | 16.2% | ||
| Q3 25 | 37.0% | 20.3% | ||
| Q2 25 | 37.2% | 21.5% | ||
| Q1 25 | 35.0% | 21.2% | ||
| Q4 24 | 37.6% | 19.5% | ||
| Q3 24 | 24.8% | 20.8% | ||
| Q2 24 | 40.3% | 22.7% | ||
| Q1 24 | 40.2% | 20.2% |
| Q4 25 | 11.7% | -14.4% | ||
| Q3 25 | 13.7% | -1.6% | ||
| Q2 25 | 14.4% | -1.1% | ||
| Q1 25 | 5.4% | -1.5% | ||
| Q4 24 | 15.4% | -2.0% | ||
| Q3 24 | 4.4% | 0.1% | ||
| Q2 24 | 18.7% | 1.4% | ||
| Q1 24 | 12.8% | 0.1% |
| Q4 25 | 5.5% | — | ||
| Q3 25 | 8.7% | -4.5% | ||
| Q2 25 | 12.5% | -4.1% | ||
| Q1 25 | -0.4% | -3.3% | ||
| Q4 24 | 7.3% | — | ||
| Q3 24 | -0.3% | -3.3% | ||
| Q2 24 | 11.9% | 1.2% | ||
| Q1 24 | 5.3% | -2.6% |
| Q4 25 | $0.05 | $-2.76 | ||
| Q3 25 | $0.07 | $-0.34 | ||
| Q2 25 | $0.08 | $-0.34 | ||
| Q1 25 | $0.00 | $-0.26 | ||
| Q4 24 | $0.04 | $-0.22 | ||
| Q3 24 | $0.00 | $-0.26 | ||
| Q2 24 | $0.07 | $0.10 | ||
| Q1 24 | $0.03 | $-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 | $66.3M |
| Total DebtLower is stronger | — | $180.9M |
| Stockholders' EquityBook value | $600.0M | $179.8M |
| Total Assets | $904.1M | $551.2M |
| Debt / EquityLower = less leverage | — | 1.01× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.3M | $66.3M | ||
| Q3 25 | $8.6M | $54.0M | ||
| Q2 25 | $4.7M | $49.8M | ||
| Q1 25 | $35.6M | $79.1M | ||
| Q4 24 | $23.5M | $71.8M | ||
| Q3 24 | $11.1M | $54.1M | ||
| Q2 24 | $3.2M | $42.1M | ||
| Q1 24 | $15.2M | $48.4M |
| Q4 25 | — | $180.9M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $141.8M | — | ||
| Q4 24 | $141.8M | $201.6M | ||
| Q3 24 | $141.8M | — | ||
| Q2 24 | $146.8M | — | ||
| Q1 24 | $168.8M | — |
| Q4 25 | $600.0M | $179.8M | ||
| Q3 25 | $589.6M | $251.2M | ||
| Q2 25 | $575.4M | $260.5M | ||
| Q1 25 | $558.9M | $253.1M | ||
| Q4 24 | $556.8M | $245.3M | ||
| Q3 24 | $545.2M | $271.4M | ||
| Q2 24 | $544.6M | $270.5M | ||
| Q1 24 | $554.0M | $277.3M |
| Q4 25 | $904.1M | $551.2M | ||
| Q3 25 | $851.8M | $632.1M | ||
| Q2 25 | $795.0M | $639.4M | ||
| Q1 25 | $788.4M | $657.4M | ||
| Q4 24 | $793.1M | $621.6M | ||
| Q3 24 | $801.3M | $662.5M | ||
| Q2 24 | $788.4M | $666.7M | ||
| Q1 24 | $825.3M | $675.4M |
| Q4 25 | — | 1.01× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.25× | — | ||
| Q4 24 | 0.25× | 0.82× | ||
| 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 | $-4.1M | $8.8M |
| Free Cash FlowOCF − Capex | $-11.3M | $2.6M |
| FCF MarginFCF / Revenue | -7.6% | 1.3% |
| Capex IntensityCapex / Revenue | 4.8% | 3.0% |
| Cash ConversionOCF / Net Profit | -0.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-16.0M | $12.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-4.1M | $8.8M | ||
| Q3 25 | $19.4M | $3.6M | ||
| Q2 25 | $-13.8M | $10.7M | ||
| Q1 25 | $15.6M | $10.9M | ||
| Q4 24 | $14.0M | $19.2M | ||
| Q3 24 | $15.7M | $10.8M | ||
| Q2 24 | $37.8M | $8.7M | ||
| Q1 24 | $12.9M | $9.1M |
| Q4 25 | $-11.3M | $2.6M | ||
| Q3 25 | $9.0M | $-2.7M | ||
| Q2 25 | $-26.0M | $7.4M | ||
| Q1 25 | $12.3M | $4.8M | ||
| Q4 24 | $12.5M | $14.0M | ||
| Q3 24 | $13.3M | $4.6M | ||
| Q2 24 | $35.8M | $1.5M | ||
| Q1 24 | $10.4M | $3.3M |
| Q4 25 | -7.6% | 1.3% | ||
| Q3 25 | 6.6% | -1.3% | ||
| Q2 25 | -23.5% | 3.3% | ||
| Q1 25 | 15.4% | 2.2% | ||
| Q4 24 | 11.6% | 6.4% | ||
| Q3 24 | 13.0% | 2.2% | ||
| Q2 24 | 36.1% | 0.6% | ||
| Q1 24 | 11.4% | 1.4% |
| Q4 25 | 4.8% | 3.0% | ||
| Q3 25 | 7.7% | 3.0% | ||
| Q2 25 | 11.0% | 1.4% | ||
| Q1 25 | 4.0% | 2.8% | ||
| Q4 24 | 1.4% | 2.4% | ||
| Q3 24 | 2.3% | 2.9% | ||
| Q2 24 | 2.0% | 3.0% | ||
| Q1 24 | 2.7% | 2.4% |
| Q4 25 | -0.50× | — | ||
| Q3 25 | 1.63× | — | ||
| Q2 25 | -1.00× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.79× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 3.21× | 3.11× | ||
| Q1 24 | 2.69× | — |
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% |
SRI
| Control Devices | $51.7M | 25% |
| Electronics | $38.0M | 19% |
| EE | $34.2M | 17% |
| SE | $28.6M | 14% |
| NL | $24.5M | 12% |
| Stoneridge Brazil | $14.1M | 7% |
| Asia Pacific | $13.1M | 6% |
