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Side-by-side financial comparison of Shoals Technologies Group, Inc. (SHLS) and Vital Farms, Inc. (VITL). Click either name above to swap in a different company.
Vital Farms, Inc. is the larger business by last-quarter revenue ($213.6M vs $148.3M, roughly 1.4× Shoals Technologies Group, Inc.). Vital Farms, Inc. runs the higher net margin — 7.6% vs 5.5%, a 2.2% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs 28.7%). Shoals Technologies Group, Inc. produced more free cash flow last quarter ($-11.3M vs $-32.1M). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs 20.2%).
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.
Vital Tomosi Dairy Limited is a dairy processing company in Uganda. The company is a joint venture between Vital Capital Fund, "an impact investing fund primarily focused on Sub-Saharan Africa", and "Tomosi Dairy Farms, a Ugandan producer of dairy products".
SHLS vs VITL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $148.3M | $213.6M |
| Net Profit | $8.1M | $16.3M |
| Gross Margin | 31.6% | 35.8% |
| Operating Margin | 11.7% | 10.0% |
| Net Margin | 5.5% | 7.6% |
| Revenue YoY | 38.6% | 28.7% |
| Net Profit YoY | 3.9% | 54.3% |
| EPS (diluted) | $0.05 | $0.35 |
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 | $213.6M | ||
| Q3 25 | $135.8M | $198.9M | ||
| Q2 25 | $110.8M | $184.8M | ||
| Q1 25 | $80.4M | $162.2M | ||
| Q4 24 | $107.0M | $166.0M | ||
| Q3 24 | $102.2M | $145.0M | ||
| Q2 24 | $99.2M | $147.4M | ||
| Q1 24 | $90.8M | $147.9M |
| Q4 25 | $8.1M | $16.3M | ||
| Q3 25 | $11.9M | $16.4M | ||
| Q2 25 | $13.9M | $16.6M | ||
| Q1 25 | $-282.0K | $16.9M | ||
| Q4 24 | $7.8M | $10.6M | ||
| Q3 24 | $-267.0K | $7.4M | ||
| Q2 24 | $11.8M | $16.3M | ||
| Q1 24 | $4.8M | $19.0M |
| Q4 25 | 31.6% | 35.8% | ||
| Q3 25 | 37.0% | 37.7% | ||
| Q2 25 | 37.2% | 38.9% | ||
| Q1 25 | 35.0% | 38.5% | ||
| Q4 24 | 37.6% | 36.1% | ||
| Q3 24 | 24.8% | 36.9% | ||
| Q2 24 | 40.3% | 39.1% | ||
| Q1 24 | 40.2% | 39.8% |
| Q4 25 | 11.7% | 10.0% | ||
| Q3 25 | 13.7% | 10.8% | ||
| Q2 25 | 14.4% | 12.9% | ||
| Q1 25 | 5.4% | 13.4% | ||
| Q4 24 | 15.4% | 7.8% | ||
| Q3 24 | 4.4% | 6.4% | ||
| Q2 24 | 18.7% | 11.6% | ||
| Q1 24 | 12.8% | 16.3% |
| Q4 25 | 5.5% | 7.6% | ||
| Q3 25 | 8.7% | 8.3% | ||
| Q2 25 | 12.5% | 9.0% | ||
| Q1 25 | -0.4% | 10.4% | ||
| Q4 24 | 7.3% | 6.4% | ||
| Q3 24 | -0.3% | 5.1% | ||
| Q2 24 | 11.9% | 11.1% | ||
| Q1 24 | 5.3% | 12.9% |
| Q4 25 | $0.05 | $0.35 | ||
| Q3 25 | $0.07 | $0.36 | ||
| Q2 25 | $0.08 | $0.36 | ||
| Q1 25 | $0.00 | $0.37 | ||
| Q4 24 | $0.04 | $0.23 | ||
| Q3 24 | $0.00 | $0.16 | ||
| Q2 24 | $0.07 | $0.36 | ||
| Q1 24 | $0.03 | $0.43 |
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 | $48.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $600.0M | $351.3M |
| Total Assets | $904.1M | $518.7M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.3M | $48.8M | ||
| Q3 25 | $8.6M | $93.8M | ||
| Q2 25 | $4.7M | $108.2M | ||
| Q1 25 | $35.6M | $156.3M | ||
| Q4 24 | $23.5M | $150.6M | ||
| Q3 24 | $11.1M | $149.5M | ||
| Q2 24 | $3.2M | $133.2M | ||
| Q1 24 | $15.2M | $113.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $141.8M | — | ||
| Q4 24 | $141.8M | — | ||
| Q3 24 | $141.8M | — | ||
| Q2 24 | $146.8M | — | ||
| Q1 24 | $168.8M | — |
| Q4 25 | $600.0M | $351.3M | ||
| Q3 25 | $589.6M | $331.2M | ||
| Q2 25 | $575.4M | $309.8M | ||
| Q1 25 | $558.9M | $288.9M | ||
| Q4 24 | $556.8M | $269.3M | ||
| Q3 24 | $545.2M | $253.4M | ||
| Q2 24 | $544.6M | $238.4M | ||
| Q1 24 | $554.0M | $213.3M |
| Q4 25 | $904.1M | $518.7M | ||
| Q3 25 | $851.8M | $481.5M | ||
| Q2 25 | $795.0M | $430.8M | ||
| Q1 25 | $788.4M | $376.9M | ||
| Q4 24 | $793.1M | $359.3M | ||
| Q3 24 | $801.3M | $344.7M | ||
| Q2 24 | $788.4M | $320.5M | ||
| Q1 24 | $825.3M | $300.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.25× | — | ||
| Q4 24 | 0.25× | — | ||
| 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 | $5.8M |
| Free Cash FlowOCF − Capex | $-11.3M | $-32.1M |
| FCF MarginFCF / Revenue | -7.6% | -15.1% |
| Capex IntensityCapex / Revenue | 4.8% | 17.8% |
| Cash ConversionOCF / Net Profit | -0.50× | 0.35× |
| TTM Free Cash FlowTrailing 4 quarters | $-16.0M | $-48.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-4.1M | $5.8M | ||
| Q3 25 | $19.4M | $23.4M | ||
| Q2 25 | $-13.8M | $-761.0K | ||
| Q1 25 | $15.6M | $5.3M | ||
| Q4 24 | $14.0M | $14.8M | ||
| Q3 24 | $15.7M | $10.0M | ||
| Q2 24 | $37.8M | $16.1M | ||
| Q1 24 | $12.9M | $23.9M |
| Q4 25 | $-11.3M | $-32.1M | ||
| Q3 25 | $9.0M | $-10.6M | ||
| Q2 25 | $-26.0M | $-7.6M | ||
| Q1 25 | $12.3M | $2.1M | ||
| Q4 24 | $12.5M | $-3.4M | ||
| Q3 24 | $13.3M | $6.4M | ||
| Q2 24 | $35.8M | $10.5M | ||
| Q1 24 | $10.4M | $22.6M |
| Q4 25 | -7.6% | -15.1% | ||
| Q3 25 | 6.6% | -5.3% | ||
| Q2 25 | -23.5% | -4.1% | ||
| Q1 25 | 15.4% | 1.3% | ||
| Q4 24 | 11.6% | -2.0% | ||
| Q3 24 | 13.0% | 4.4% | ||
| Q2 24 | 36.1% | 7.2% | ||
| Q1 24 | 11.4% | 15.3% |
| Q4 25 | 4.8% | 17.8% | ||
| Q3 25 | 7.7% | 17.1% | ||
| Q2 25 | 11.0% | 3.7% | ||
| Q1 25 | 4.0% | 1.9% | ||
| Q4 24 | 1.4% | 10.9% | ||
| Q3 24 | 2.3% | 2.5% | ||
| Q2 24 | 2.0% | 3.8% | ||
| Q1 24 | 2.7% | 0.9% |
| Q4 25 | -0.50× | 0.35× | ||
| Q3 25 | 1.63× | 1.43× | ||
| Q2 25 | -1.00× | -0.05× | ||
| Q1 25 | — | 0.31× | ||
| Q4 24 | 1.79× | 1.40× | ||
| Q3 24 | — | 1.34× | ||
| Q2 24 | 3.21× | 0.99× | ||
| Q1 24 | 2.69× | 1.26× |
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% |
VITL
| Eggs And Egg Related Products | $205.8M | 96% |
| Butter And Butter Related Products | $7.7M | 4% |
