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Side-by-side financial comparison of Shoals Technologies Group, Inc. (SHLS) and T1 Energy Inc. (TE). Click either name above to swap in a different company.
T1 Energy Inc. is the larger business by last-quarter revenue ($210.5M vs $148.3M, roughly 1.4× Shoals Technologies Group, Inc.). Shoals Technologies Group, Inc. runs the higher net margin — 5.5% vs -62.0%, a 67.5% gap on every dollar of revenue. T1 Energy Inc. produced more free cash flow last quarter ($55.0M vs $-11.3M).
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.
Sony Energy Devices Corporation , is a Japanese multinational company specializing in a variety of areas in the energy industry, and is a wholly owned subsidiary and part of the Devices Group of Sony. The company was established in February 1975 in Fukushima, Japan.
SHLS vs TE — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $148.3M | $210.5M |
| Net Profit | $8.1M | $-130.6M |
| Gross Margin | 31.6% | 10.0% |
| Operating Margin | 11.7% | -45.0% |
| Net Margin | 5.5% | -62.0% |
| Revenue YoY | 38.6% | — |
| Net Profit YoY | 3.9% | -375.2% |
| EPS (diluted) | $0.05 | $-0.87 |
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 | — | ||
| Q3 25 | $135.8M | $210.5M | ||
| Q2 25 | $110.8M | $132.8M | ||
| Q1 25 | $80.4M | $53.5M | ||
| Q4 24 | $107.0M | — | ||
| Q3 24 | $102.2M | $0 | ||
| Q2 24 | $99.2M | $0 | ||
| Q1 24 | $90.8M | $0 |
| Q4 25 | $8.1M | — | ||
| Q3 25 | $11.9M | $-130.6M | ||
| Q2 25 | $13.9M | $-31.9M | ||
| Q1 25 | $-282.0K | $-16.2M | ||
| Q4 24 | $7.8M | — | ||
| Q3 24 | $-267.0K | $-27.5M | ||
| Q2 24 | $11.8M | $-27.0M | ||
| Q1 24 | $4.8M | $-28.5M |
| Q4 25 | 31.6% | — | ||
| Q3 25 | 37.0% | 10.0% | ||
| Q2 25 | 37.2% | 24.7% | ||
| Q1 25 | 35.0% | 33.3% | ||
| Q4 24 | 37.6% | — | ||
| Q3 24 | 24.8% | — | ||
| Q2 24 | 40.3% | — | ||
| Q1 24 | 40.2% | — |
| Q4 25 | 11.7% | — | ||
| Q3 25 | 13.7% | -45.0% | ||
| Q2 25 | 14.4% | -22.0% | ||
| Q1 25 | 5.4% | -44.2% | ||
| Q4 24 | 15.4% | — | ||
| Q3 24 | 4.4% | — | ||
| Q2 24 | 18.7% | — | ||
| Q1 24 | 12.8% | — |
| Q4 25 | 5.5% | — | ||
| Q3 25 | 8.7% | -62.0% | ||
| Q2 25 | 12.5% | -24.0% | ||
| Q1 25 | -0.4% | -30.4% | ||
| Q4 24 | 7.3% | — | ||
| Q3 24 | -0.3% | — | ||
| Q2 24 | 11.9% | — | ||
| Q1 24 | 5.3% | — |
| Q4 25 | $0.05 | — | ||
| Q3 25 | $0.07 | $-0.87 | ||
| Q2 25 | $0.08 | $-0.21 | ||
| Q1 25 | $0.00 | $-0.11 | ||
| Q4 24 | $0.04 | — | ||
| Q3 24 | $0.00 | $-0.20 | ||
| Q2 24 | $0.07 | $-0.19 | ||
| Q1 24 | $0.03 | $-0.20 |
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 | $34.1M |
| Total DebtLower is stronger | — | $547.3M |
| Stockholders' EquityBook value | $600.0M | $96.9M |
| Total Assets | $904.1M | $1.4B |
| Debt / EquityLower = less leverage | — | 5.65× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.3M | — | ||
| Q3 25 | $8.6M | $34.1M | ||
| Q2 25 | $4.7M | $8.5M | ||
| Q1 25 | $35.6M | $48.9M | ||
| Q4 24 | $23.5M | — | ||
| Q3 24 | $11.1M | $181.9M | ||
| Q2 24 | $3.2M | $219.6M | ||
| Q1 24 | $15.2M | $249.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | $547.3M | ||
| Q2 25 | — | $591.2M | ||
| Q1 25 | $141.8M | $603.2M | ||
| Q4 24 | $141.8M | — | ||
| Q3 24 | $141.8M | — | ||
| Q2 24 | $146.8M | — | ||
| Q1 24 | $168.8M | $602.3M |
| Q4 25 | $600.0M | — | ||
| Q3 25 | $589.6M | $96.9M | ||
| Q2 25 | $575.4M | $183.9M | ||
| Q1 25 | $558.9M | $201.9M | ||
| Q4 24 | $556.8M | — | ||
| Q3 24 | $545.2M | $538.7M | ||
| Q2 24 | $544.6M | $561.6M | ||
| Q1 24 | $554.0M | $582.3M |
| Q4 25 | $904.1M | — | ||
| Q3 25 | $851.8M | $1.4B | ||
| Q2 25 | $795.0M | $1.4B | ||
| Q1 25 | $788.4M | $1.4B | ||
| Q4 24 | $793.1M | — | ||
| Q3 24 | $801.3M | $615.0M | ||
| Q2 24 | $788.4M | $644.4M | ||
| Q1 24 | $825.3M | $670.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | 5.65× | ||
| Q2 25 | — | 3.21× | ||
| Q1 25 | 0.25× | 2.99× | ||
| Q4 24 | 0.25× | — | ||
| Q3 24 | 0.26× | — | ||
| Q2 24 | 0.27× | — | ||
| Q1 24 | 0.30× | 1.03× |
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 | $63.9M |
| Free Cash FlowOCF − Capex | $-11.3M | $55.0M |
| FCF MarginFCF / Revenue | -7.6% | 26.1% |
| Capex IntensityCapex / Revenue | 4.8% | 4.2% |
| Cash ConversionOCF / Net Profit | -0.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-16.0M | $-42.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-4.1M | — | ||
| Q3 25 | $19.4M | $63.9M | ||
| Q2 25 | $-13.8M | $33.4M | ||
| Q1 25 | $15.6M | $-44.8M | ||
| Q4 24 | $14.0M | — | ||
| Q3 24 | $15.7M | $-28.4M | ||
| Q2 24 | $37.8M | $-28.0M | ||
| Q1 24 | $12.9M | $-16.2M |
| Q4 25 | $-11.3M | — | ||
| Q3 25 | $9.0M | $55.0M | ||
| Q2 25 | $-26.0M | $10.6M | ||
| Q1 25 | $12.3M | $-74.0M | ||
| Q4 24 | $12.5M | — | ||
| Q3 24 | $13.3M | $-34.0M | ||
| Q2 24 | $35.8M | $-35.6M | ||
| Q1 24 | $10.4M | $-37.7M |
| Q4 25 | -7.6% | — | ||
| Q3 25 | 6.6% | 26.1% | ||
| Q2 25 | -23.5% | 8.0% | ||
| Q1 25 | 15.4% | -138.4% | ||
| Q4 24 | 11.6% | — | ||
| Q3 24 | 13.0% | — | ||
| Q2 24 | 36.1% | — | ||
| Q1 24 | 11.4% | — |
| Q4 25 | 4.8% | — | ||
| Q3 25 | 7.7% | 4.2% | ||
| Q2 25 | 11.0% | 17.2% | ||
| Q1 25 | 4.0% | 54.5% | ||
| Q4 24 | 1.4% | — | ||
| Q3 24 | 2.3% | — | ||
| Q2 24 | 2.0% | — | ||
| Q1 24 | 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
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
TE
| Related Party | $120.1M | 57% |
| Nonrelated Party | $90.4M | 43% |
