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Side-by-side financial comparison of Shoals Technologies Group, Inc. (SHLS) and TRIMAS CORP (TRS). Click either name above to swap in a different company.
TRIMAS CORP is the larger business by last-quarter revenue ($256.5M vs $148.3M, roughly 1.7× Shoals Technologies Group, Inc.). TRIMAS CORP runs the higher net margin — 31.9% vs 5.5%, a 26.4% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs 3.8%). TRIMAS CORP produced more free cash flow last quarter ($36.8M vs $-11.3M). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs 3.3%).
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.
Trimas Corp is a diversified industrial manufacturing enterprise that designs, produces and distributes a wide portfolio of engineered products, including specialized fasteners, aerospace components, custom packaging solutions, and consumer & industrial hardware. It primarily serves aerospace, automotive, construction, consumer goods and industrial sectors, with core operations across North America and selected global markets.
SHLS vs TRS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $148.3M | $256.5M |
| Net Profit | $8.1M | $81.7M |
| Gross Margin | 31.6% | 12.8% |
| Operating Margin | 11.7% | 5.7% |
| Net Margin | 5.5% | 31.9% |
| Revenue YoY | 38.6% | 3.8% |
| Net Profit YoY | 3.9% | 236.9% |
| EPS (diluted) | $0.05 | $2.03 |
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 | — | $256.5M | ||
| Q4 25 | $148.3M | $-140.0M | ||
| Q3 25 | $135.8M | $269.3M | ||
| Q2 25 | $110.8M | $274.8M | ||
| Q1 25 | $80.4M | $241.7M | ||
| Q4 24 | $107.0M | $-66.2M | ||
| Q3 24 | $102.2M | $229.4M | ||
| Q2 24 | $99.2M | $240.5M |
| Q1 26 | — | $81.7M | ||
| Q4 25 | $8.1M | $81.7M | ||
| Q3 25 | $11.9M | $9.3M | ||
| Q2 25 | $13.9M | $16.7M | ||
| Q1 25 | $-282.0K | $12.4M | ||
| Q4 24 | $7.8M | $5.6M | ||
| Q3 24 | $-267.0K | $2.5M | ||
| Q2 24 | $11.8M | $10.9M |
| Q1 26 | — | 12.8% | ||
| Q4 25 | 31.6% | — | ||
| Q3 25 | 37.0% | 12.8% | ||
| Q2 25 | 37.2% | 13.8% | ||
| Q1 25 | 35.0% | 13.6% | ||
| Q4 24 | 37.6% | — | ||
| Q3 24 | 24.8% | 15.4% | ||
| Q2 24 | 40.3% | 14.4% |
| Q1 26 | — | 5.7% | ||
| Q4 25 | 11.7% | — | ||
| Q3 25 | 13.7% | 6.2% | ||
| Q2 25 | 14.4% | 9.9% | ||
| Q1 25 | 5.4% | 9.0% | ||
| Q4 24 | 15.4% | — | ||
| Q3 24 | 4.4% | 3.6% | ||
| Q2 24 | 18.7% | 7.4% |
| Q1 26 | — | 31.9% | ||
| Q4 25 | 5.5% | -58.4% | ||
| Q3 25 | 8.7% | 3.5% | ||
| Q2 25 | 12.5% | 6.1% | ||
| Q1 25 | -0.4% | 5.1% | ||
| Q4 24 | 7.3% | -8.5% | ||
| Q3 24 | -0.3% | 1.1% | ||
| Q2 24 | 11.9% | 4.5% |
| Q1 26 | — | $2.03 | ||
| Q4 25 | $0.05 | $2.01 | ||
| Q3 25 | $0.07 | $0.23 | ||
| Q2 25 | $0.08 | $0.41 | ||
| Q1 25 | $0.00 | $0.30 | ||
| Q4 24 | $0.04 | $0.14 | ||
| Q3 24 | $0.00 | $0.06 | ||
| Q2 24 | $0.07 | $0.27 |
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 | $30.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $600.0M | $705.6M |
| Total Assets | $904.1M | $1.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $30.0M | ||
| Q4 25 | $7.3M | $30.0M | ||
| Q3 25 | $8.6M | $33.6M | ||
| Q2 25 | $4.7M | $30.3M | ||
| Q1 25 | $35.6M | $32.7M | ||
| Q4 24 | $23.5M | $23.1M | ||
| Q3 24 | $11.1M | $26.9M | ||
| Q2 24 | $3.2M | $35.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $469.2M | ||
| Q3 25 | — | $407.1M | ||
| Q2 25 | — | $424.5M | ||
| Q1 25 | $141.8M | $434.2M | ||
| Q4 24 | $141.8M | $398.1M | ||
| Q3 24 | $141.8M | $409.9M | ||
| Q2 24 | $146.8M | $427.4M |
| Q1 26 | — | $705.6M | ||
| Q4 25 | $600.0M | $705.6M | ||
| Q3 25 | $589.6M | $725.0M | ||
| Q2 25 | $575.4M | $715.3M | ||
| Q1 25 | $558.9M | $686.6M | ||
| Q4 24 | $556.8M | $667.3M | ||
| Q3 24 | $545.2M | $682.8M | ||
| Q2 24 | $544.6M | $675.9M |
| Q1 26 | — | $1.5B | ||
| Q4 25 | $904.1M | $1.5B | ||
| Q3 25 | $851.8M | $1.4B | ||
| Q2 25 | $795.0M | $1.4B | ||
| Q1 25 | $788.4M | $1.4B | ||
| Q4 24 | $793.1M | $1.3B | ||
| Q3 24 | $801.3M | $1.4B | ||
| Q2 24 | $788.4M | $1.4B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.66× | ||
| Q3 25 | — | 0.56× | ||
| Q2 25 | — | 0.59× | ||
| Q1 25 | 0.25× | 0.63× | ||
| Q4 24 | 0.25× | 0.60× | ||
| Q3 24 | 0.26× | 0.60× | ||
| Q2 24 | 0.27× | 0.63× |
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 | $117.5M |
| Free Cash FlowOCF − Capex | $-11.3M | $36.8M |
| FCF MarginFCF / Revenue | -7.6% | 14.4% |
| Capex IntensityCapex / Revenue | 4.8% | 18.9% |
| Cash ConversionOCF / Net Profit | -0.50× | 1.44× |
| TTM Free Cash FlowTrailing 4 quarters | $-16.0M | $109.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $117.5M | ||
| Q4 25 | $-4.1M | $41.5M | ||
| Q3 25 | $19.4M | $36.5M | ||
| Q2 25 | $-13.8M | $30.3M | ||
| Q1 25 | $15.6M | $9.2M | ||
| Q4 24 | $14.0M | $27.1M | ||
| Q3 24 | $15.7M | $22.0M | ||
| Q2 24 | $37.8M | $18.4M |
| Q1 26 | — | $36.8M | ||
| Q4 25 | $-11.3M | $36.8M | ||
| Q3 25 | $9.0M | $22.8M | ||
| Q2 25 | $-26.0M | $13.2M | ||
| Q1 25 | $12.3M | $-3.8M | ||
| Q4 24 | $12.5M | $12.1M | ||
| Q3 24 | $13.3M | $10.2M | ||
| Q2 24 | $35.8M | $7.5M |
| Q1 26 | — | 14.4% | ||
| Q4 25 | -7.6% | -26.3% | ||
| Q3 25 | 6.6% | 8.5% | ||
| Q2 25 | -23.5% | 4.8% | ||
| Q1 25 | 15.4% | -1.6% | ||
| Q4 24 | 11.6% | -18.3% | ||
| Q3 24 | 13.0% | 4.4% | ||
| Q2 24 | 36.1% | 3.1% |
| Q1 26 | — | 18.9% | ||
| Q4 25 | 4.8% | -3.4% | ||
| Q3 25 | 7.7% | 5.1% | ||
| Q2 25 | 11.0% | 6.2% | ||
| Q1 25 | 4.0% | 5.4% | ||
| Q4 24 | 1.4% | -22.6% | ||
| Q3 24 | 2.3% | 5.2% | ||
| Q2 24 | 2.0% | 4.5% |
| Q1 26 | — | 1.44× | ||
| Q4 25 | -0.50× | 0.51× | ||
| Q3 25 | 1.63× | 3.92× | ||
| Q2 25 | -1.00× | 1.81× | ||
| Q1 25 | — | 0.74× | ||
| Q4 24 | 1.79× | 4.80× | ||
| Q3 24 | — | 8.71× | ||
| Q2 24 | 3.21× | 1.68× |
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% |
TRS
Segment breakdown not available.
