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Side-by-side financial comparison of Shoals Technologies Group, Inc. (SHLS) and VINCE HOLDING CORP. (VNCE). Click either name above to swap in a different company.
Shoals Technologies Group, Inc. is the larger business by last-quarter revenue ($148.3M vs $85.1M, roughly 1.7× VINCE HOLDING CORP.). Shoals Technologies Group, Inc. runs the higher net margin — 5.5% vs 3.2%, a 2.3% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs 6.2%). VINCE HOLDING CORP. produced more free cash flow last quarter ($-5.7M vs $-11.3M). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs 6.3%).
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.
VINCE. is a contemporary clothing fashion brand founded in 2002. In 2023 Authentic Brands Group purchased its intellectual property in a $76.5 million deal.
SHLS vs VNCE — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $148.3M | $85.1M |
| Net Profit | $8.1M | $2.7M |
| Gross Margin | 31.6% | 49.2% |
| Operating Margin | 11.7% | 6.4% |
| Net Margin | 5.5% | 3.2% |
| Revenue YoY | 38.6% | 6.2% |
| Net Profit YoY | 3.9% | -37.3% |
| EPS (diluted) | $0.05 | $0.21 |
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 | $85.1M | ||
| Q3 25 | $135.8M | $73.2M | ||
| Q2 25 | $110.8M | $57.9M | ||
| Q1 25 | $80.4M | $80.0M | ||
| Q4 24 | $107.0M | $80.2M | ||
| Q3 24 | $102.2M | $74.2M | ||
| Q2 24 | $99.2M | $59.2M | ||
| Q1 24 | $90.8M | $75.3M |
| Q4 25 | $8.1M | $2.7M | ||
| Q3 25 | $11.9M | $12.1M | ||
| Q2 25 | $13.9M | $-4.8M | ||
| Q1 25 | $-282.0K | $-28.3M | ||
| Q4 24 | $7.8M | $4.3M | ||
| Q3 24 | $-267.0K | $569.0K | ||
| Q2 24 | $11.8M | $4.4M | ||
| Q1 24 | $4.8M | $-4.7M |
| Q4 25 | 31.6% | 49.2% | ||
| Q3 25 | 37.0% | 50.4% | ||
| Q2 25 | 37.2% | 50.3% | ||
| Q1 25 | 35.0% | 50.1% | ||
| Q4 24 | 37.6% | 50.0% | ||
| Q3 24 | 24.8% | 47.4% | ||
| Q2 24 | 40.3% | 50.6% | ||
| Q1 24 | 40.2% | 45.4% |
| Q4 25 | 11.7% | 6.4% | ||
| Q3 25 | 13.7% | 15.2% | ||
| Q2 25 | 14.4% | -7.7% | ||
| Q1 25 | 5.4% | -37.1% | ||
| Q4 24 | 15.4% | 7.2% | ||
| Q3 24 | 4.4% | 1.5% | ||
| Q2 24 | 18.7% | 9.5% | ||
| Q1 24 | 12.8% | -2.2% |
| Q4 25 | 5.5% | 3.2% | ||
| Q3 25 | 8.7% | 16.5% | ||
| Q2 25 | 12.5% | -8.3% | ||
| Q1 25 | -0.4% | -35.5% | ||
| Q4 24 | 7.3% | 5.4% | ||
| Q3 24 | -0.3% | 0.8% | ||
| Q2 24 | 11.9% | 7.4% | ||
| Q1 24 | 5.3% | -6.2% |
| Q4 25 | $0.05 | $0.21 | ||
| Q3 25 | $0.07 | $0.93 | ||
| Q2 25 | $0.08 | $-0.37 | ||
| Q1 25 | $0.00 | $-2.25 | ||
| Q4 24 | $0.04 | $0.34 | ||
| Q3 24 | $0.00 | $0.05 | ||
| Q2 24 | $0.07 | $0.35 | ||
| Q1 24 | $0.03 | $-0.37 |
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 | $1.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $600.0M | $53.4M |
| Total Assets | $904.1M | $246.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.3M | $1.1M | ||
| Q3 25 | $8.6M | $777.0K | ||
| Q2 25 | $4.7M | $2.6M | ||
| Q1 25 | $35.6M | $607.0K | ||
| Q4 24 | $23.5M | $892.0K | ||
| Q3 24 | $11.1M | $711.0K | ||
| Q2 24 | $3.2M | $739.0K | ||
| Q1 24 | $15.2M | $357.0K |
| 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 | $53.4M | ||
| Q3 25 | $589.6M | $49.3M | ||
| Q2 25 | $575.4M | $37.2M | ||
| Q1 25 | $558.9M | $41.8M | ||
| Q4 24 | $556.8M | $57.1M | ||
| Q3 24 | $545.2M | $52.4M | ||
| Q2 24 | $544.6M | $51.7M | ||
| Q1 24 | $554.0M | $47.2M |
| Q4 25 | $904.1M | $246.0M | ||
| Q3 25 | $851.8M | $239.0M | ||
| Q2 25 | $795.0M | $218.0M | ||
| Q1 25 | $788.4M | $222.7M | ||
| Q4 24 | $793.1M | $254.7M | ||
| Q3 24 | $801.3M | $253.6M | ||
| Q2 24 | $788.4M | $223.1M | ||
| Q1 24 | $825.3M | $225.1M |
| 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 | $-5.1M |
| Free Cash FlowOCF − Capex | $-11.3M | $-5.7M |
| FCF MarginFCF / Revenue | -7.6% | -6.7% |
| Capex IntensityCapex / Revenue | 4.8% | 0.7% |
| Cash ConversionOCF / Net Profit | -0.50× | -1.86× |
| TTM Free Cash FlowTrailing 4 quarters | $-16.0M | $4.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-4.1M | $-5.1M | ||
| Q3 25 | $19.4M | $4.2M | ||
| Q2 25 | $-13.8M | $-11.8M | ||
| Q1 25 | $15.6M | $22.7M | ||
| Q4 24 | $14.0M | $6.4M | ||
| Q3 24 | $15.7M | $-3.2M | ||
| Q2 24 | $37.8M | $-3.9M | ||
| Q1 24 | $12.9M | $14.8M |
| Q4 25 | $-11.3M | $-5.7M | ||
| Q3 25 | $9.0M | $2.1M | ||
| Q2 25 | $-26.0M | $-13.2M | ||
| Q1 25 | $12.3M | $21.2M | ||
| Q4 24 | $12.5M | $5.1M | ||
| Q3 24 | $13.3M | $-3.9M | ||
| Q2 24 | $35.8M | $-4.6M | ||
| Q1 24 | $10.4M | $14.2M |
| Q4 25 | -7.6% | -6.7% | ||
| Q3 25 | 6.6% | 2.9% | ||
| Q2 25 | -23.5% | -22.9% | ||
| Q1 25 | 15.4% | 26.5% | ||
| Q4 24 | 11.6% | 6.4% | ||
| Q3 24 | 13.0% | -5.2% | ||
| Q2 24 | 36.1% | -7.8% | ||
| Q1 24 | 11.4% | 18.9% |
| Q4 25 | 4.8% | 0.7% | ||
| Q3 25 | 7.7% | 2.9% | ||
| Q2 25 | 11.0% | 2.5% | ||
| Q1 25 | 4.0% | 1.9% | ||
| Q4 24 | 1.4% | 1.6% | ||
| Q3 24 | 2.3% | 0.9% | ||
| Q2 24 | 2.0% | 1.3% | ||
| Q1 24 | 2.7% | 0.7% |
| Q4 25 | -0.50× | -1.86× | ||
| Q3 25 | 1.63× | 0.35× | ||
| Q2 25 | -1.00× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.79× | 1.48× | ||
| Q3 24 | — | -5.61× | ||
| Q2 24 | 3.21× | -0.89× | ||
| 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% |
VNCE
| Vince Wholesale | $52.0M | 61% |
| Vince Direct To Consumer | $33.1M | 39% |
