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Side-by-side financial comparison of Shoals Technologies Group, Inc. (SHLS) and STAG Industrial, Inc. (STAG). Click either name above to swap in a different company.
STAG Industrial, Inc. is the larger business by last-quarter revenue ($224.2M vs $148.3M, roughly 1.5× Shoals Technologies Group, Inc.). STAG Industrial, Inc. runs the higher net margin — 27.6% vs 5.5%, a 22.2% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs 9.1%). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs 8.7%).
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.
Stag Arms is a firearms manufacturer founded in May 2003 and located in Cheyenne, Wyoming. Stag Arms is a manufacturer of the AR-15 type rifle, marketed as Stag-15 rifles. Stag advertises that all their weapons and accessories are made in the United States. They are best known for their left-handed AR-15 rifles, which use a mirror imaged upper receiver and have the ejection port reversed for left-handed shooters and the safety selector control on the right side of the lower receiver.
SHLS vs STAG — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $148.3M | $224.2M |
| Net Profit | $8.1M | $62.0M |
| Gross Margin | 31.6% | — |
| Operating Margin | 11.7% | — |
| Net Margin | 5.5% | 27.6% |
| Revenue YoY | 38.6% | 9.1% |
| Net Profit YoY | 3.9% | — |
| EPS (diluted) | $0.05 | $0.32 |
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 | — | $224.2M | ||
| Q4 25 | $148.3M | $220.9M | ||
| Q3 25 | $135.8M | $211.1M | ||
| Q2 25 | $110.8M | $207.6M | ||
| Q1 25 | $80.4M | $205.6M | ||
| Q4 24 | $107.0M | $199.3M | ||
| Q3 24 | $102.2M | $190.7M | ||
| Q2 24 | $99.2M | $189.8M |
| Q1 26 | — | $62.0M | ||
| Q4 25 | $8.1M | $83.5M | ||
| Q3 25 | $11.9M | $48.6M | ||
| Q2 25 | $13.9M | $50.0M | ||
| Q1 25 | $-282.0K | $91.4M | ||
| Q4 24 | $7.8M | $51.0M | ||
| Q3 24 | $-267.0K | $41.9M | ||
| Q2 24 | $11.8M | $59.8M |
| 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% | — | ||
| Q2 25 | 14.4% | — | ||
| Q1 25 | 5.4% | — | ||
| Q4 24 | 15.4% | — | ||
| Q3 24 | 4.4% | — | ||
| Q2 24 | 18.7% | — |
| Q1 26 | — | 27.6% | ||
| Q4 25 | 5.5% | 37.8% | ||
| Q3 25 | 8.7% | 23.0% | ||
| Q2 25 | 12.5% | 24.1% | ||
| Q1 25 | -0.4% | 44.5% | ||
| Q4 24 | 7.3% | 25.6% | ||
| Q3 24 | -0.3% | 21.9% | ||
| Q2 24 | 11.9% | 31.5% |
| Q1 26 | — | $0.32 | ||
| Q4 25 | $0.05 | — | ||
| Q3 25 | $0.07 | — | ||
| Q2 25 | $0.08 | — | ||
| Q1 25 | $0.00 | — | ||
| Q4 24 | $0.04 | — | ||
| Q3 24 | $0.00 | — | ||
| Q2 24 | $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 | $7.3M | $8.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $600.0M | $3.6B |
| Total Assets | $904.1M | $7.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $8.9M | ||
| Q4 25 | $7.3M | $14.9M | ||
| Q3 25 | $8.6M | $17.3M | ||
| Q2 25 | $4.7M | $15.4M | ||
| Q1 25 | $35.6M | $9.3M | ||
| Q4 24 | $23.5M | $36.3M | ||
| Q3 24 | $11.1M | $70.0M | ||
| Q2 24 | $3.2M | $33.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | $3.1B | ||
| Q2 25 | — | $3.0B | ||
| Q1 25 | $141.8M | $3.0B | ||
| Q4 24 | $141.8M | $3.0B | ||
| Q3 24 | $141.8M | $2.9B | ||
| Q2 24 | $146.8M | $2.8B |
| Q1 26 | — | $3.6B | ||
| Q4 25 | $600.0M | $3.6B | ||
| Q3 25 | $589.6M | $3.4B | ||
| Q2 25 | $575.4M | $3.4B | ||
| Q1 25 | $558.9M | $3.5B | ||
| Q4 24 | $556.8M | $3.5B | ||
| Q3 24 | $545.2M | $3.3B | ||
| Q2 24 | $544.6M | $3.3B |
| Q1 26 | — | $7.2B | ||
| Q4 25 | $904.1M | $7.2B | ||
| Q3 25 | $851.8M | $6.9B | ||
| Q2 25 | $795.0M | $6.8B | ||
| Q1 25 | $788.4M | $6.8B | ||
| Q4 24 | $793.1M | $6.8B | ||
| Q3 24 | $801.3M | $6.6B | ||
| Q2 24 | $788.4M | $6.4B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.91× | ||
| Q3 25 | — | 0.91× | ||
| Q2 25 | — | 0.88× | ||
| Q1 25 | 0.25× | 0.87× | ||
| Q4 24 | 0.25× | 0.88× | ||
| Q3 24 | 0.26× | 0.89× | ||
| Q2 24 | 0.27× | 0.84× |
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% | 3.9% |
| 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 | $104.5M | ||
| Q3 25 | $19.4M | $143.5M | ||
| Q2 25 | $-13.8M | $111.9M | ||
| Q1 25 | $15.6M | $103.5M | ||
| Q4 24 | $14.0M | $104.9M | ||
| Q3 24 | $15.7M | $128.0M | ||
| Q2 24 | $37.8M | $122.2M |
| Q1 26 | — | — | ||
| Q4 25 | $-11.3M | $43.8M | ||
| Q3 25 | $9.0M | $95.5M | ||
| Q2 25 | $-26.0M | $62.3M | ||
| Q1 25 | $12.3M | $57.2M | ||
| Q4 24 | $12.5M | $37.6M | ||
| Q3 24 | $13.3M | $86.7M | ||
| Q2 24 | $35.8M | $105.0M |
| Q1 26 | — | — | ||
| Q4 25 | -7.6% | 19.8% | ||
| Q3 25 | 6.6% | 45.2% | ||
| Q2 25 | -23.5% | 30.0% | ||
| Q1 25 | 15.4% | 27.8% | ||
| Q4 24 | 11.6% | 18.8% | ||
| Q3 24 | 13.0% | 45.5% | ||
| Q2 24 | 36.1% | 55.3% |
| Q1 26 | — | 3.9% | ||
| Q4 25 | 4.8% | 27.4% | ||
| Q3 25 | 7.7% | 22.7% | ||
| Q2 25 | 11.0% | 23.9% | ||
| Q1 25 | 4.0% | 22.5% | ||
| Q4 24 | 1.4% | 33.8% | ||
| Q3 24 | 2.3% | 21.6% | ||
| Q2 24 | 2.0% | 9.1% |
| Q1 26 | — | — | ||
| Q4 25 | -0.50× | 1.25× | ||
| Q3 25 | 1.63× | 2.95× | ||
| Q2 25 | -1.00× | 2.24× | ||
| Q1 25 | — | 1.13× | ||
| Q4 24 | 1.79× | 2.06× | ||
| Q3 24 | — | 3.06× | ||
| Q2 24 | 3.21× | 2.04× |
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% |
STAG
Segment breakdown not available.
