vs
Side-by-side financial comparison of Shoals Technologies Group, Inc. (SHLS) and Wingstop Inc. (WING). Click either name above to swap in a different company.
Wingstop Inc. is the larger business by last-quarter revenue ($183.7M vs $148.3M, roughly 1.2× Shoals Technologies Group, Inc.). Wingstop Inc. runs the higher net margin — 16.3% vs 5.5%, a 10.8% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (38.6% vs 7.4%). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (27.8% CAGR vs 8.6%).
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.
Wingstop Inc. is an American international fast food chain that primarily sells buffalo wings. Wingstop locations are decorated with a 1930s and 1940s pre-jet aviation theme.
SHLS vs WING — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $148.3M | $183.7M |
| Net Profit | $8.1M | $29.9M |
| Gross Margin | 31.6% | 86.5% |
| Operating Margin | 11.7% | 27.4% |
| Net Margin | 5.5% | 16.3% |
| Revenue YoY | 38.6% | 7.4% |
| Net Profit YoY | 3.9% | — |
| EPS (diluted) | $0.05 | $1.08 |
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 | — | $183.7M | ||
| Q4 25 | $148.3M | $175.7M | ||
| Q3 25 | $135.8M | $175.7M | ||
| Q2 25 | $110.8M | $174.3M | ||
| Q1 25 | $80.4M | $171.1M | ||
| Q4 24 | $107.0M | $161.8M | ||
| Q3 24 | $102.2M | $162.5M | ||
| Q2 24 | $99.2M | $155.7M |
| Q1 26 | — | $29.9M | ||
| Q4 25 | $8.1M | $26.8M | ||
| Q3 25 | $11.9M | $28.5M | ||
| Q2 25 | $13.9M | $26.8M | ||
| Q1 25 | $-282.0K | $92.3M | ||
| Q4 24 | $7.8M | $26.8M | ||
| Q3 24 | $-267.0K | $25.7M | ||
| Q2 24 | $11.8M | $27.5M |
| Q1 26 | — | 86.5% | ||
| Q4 25 | 31.6% | — | ||
| Q3 25 | 37.0% | — | ||
| Q2 25 | 37.2% | — | ||
| Q1 25 | 35.0% | — | ||
| Q4 24 | 37.6% | 85.6% | ||
| Q3 24 | 24.8% | 85.0% | ||
| Q2 24 | 40.3% | 85.4% |
| Q1 26 | — | 27.4% | ||
| Q4 25 | 11.7% | 26.7% | ||
| Q3 25 | 13.7% | 27.9% | ||
| Q2 25 | 14.4% | 25.9% | ||
| Q1 25 | 5.4% | 22.4% | ||
| Q4 24 | 15.4% | 25.9% | ||
| Q3 24 | 4.4% | 24.5% | ||
| Q2 24 | 18.7% | 26.5% |
| Q1 26 | — | 16.3% | ||
| Q4 25 | 5.5% | 15.2% | ||
| Q3 25 | 8.7% | 16.2% | ||
| Q2 25 | 12.5% | 15.4% | ||
| Q1 25 | -0.4% | 53.9% | ||
| Q4 24 | 7.3% | 16.5% | ||
| Q3 24 | -0.3% | 15.8% | ||
| Q2 24 | 11.9% | 17.7% |
| Q1 26 | — | $1.08 | ||
| Q4 25 | $0.05 | $0.99 | ||
| Q3 25 | $0.07 | $1.02 | ||
| Q2 25 | $0.08 | $0.96 | ||
| Q1 25 | $0.00 | $3.24 | ||
| Q4 24 | $0.04 | $0.91 | ||
| Q3 24 | $0.00 | $0.88 | ||
| Q2 24 | $0.07 | $0.93 |
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 | $128.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $600.0M | — |
| Total Assets | $904.1M | $648.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $128.8M | ||
| Q4 25 | $7.3M | $196.6M | ||
| Q3 25 | $8.6M | $237.6M | ||
| Q2 25 | $4.7M | $227.9M | ||
| Q1 25 | $35.6M | $251.4M | ||
| Q4 24 | $23.5M | $315.9M | ||
| Q3 24 | $11.1M | $84.0M | ||
| Q2 24 | $3.2M | $96.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $141.8M | — | ||
| Q4 24 | $141.8M | $1.2B | ||
| Q3 24 | $141.8M | — | ||
| Q2 24 | $146.8M | — |
| Q1 26 | — | — | ||
| Q4 25 | $600.0M | $-736.8M | ||
| Q3 25 | $589.6M | $-702.6M | ||
| Q2 25 | $575.4M | $-686.0M | ||
| Q1 25 | $558.9M | $-715.0M | ||
| Q4 24 | $556.8M | $-675.6M | ||
| Q3 24 | $545.2M | $-447.5M | ||
| Q2 24 | $544.6M | $-437.5M |
| Q1 26 | — | $648.9M | ||
| Q4 25 | $904.1M | $693.4M | ||
| Q3 25 | $851.8M | $721.0M | ||
| Q2 25 | $795.0M | $708.3M | ||
| Q1 25 | $788.4M | $696.8M | ||
| Q4 24 | $793.1M | $716.2M | ||
| Q3 24 | $801.3M | $484.8M | ||
| Q2 24 | $788.4M | $451.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.25× | — | ||
| Q4 24 | 0.25× | — | ||
| Q3 24 | 0.26× | — | ||
| Q2 24 | 0.27× | — |
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% | — |
| 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 | $57.3M | ||
| Q3 25 | $19.4M | $63.9M | ||
| Q2 25 | $-13.8M | $6.6M | ||
| Q1 25 | $15.6M | $25.3M | ||
| Q4 24 | $14.0M | $7.7M | ||
| Q3 24 | $15.7M | $69.0M | ||
| Q2 24 | $37.8M | $36.2M |
| Q1 26 | — | — | ||
| Q4 25 | $-11.3M | $34.5M | ||
| Q3 25 | $9.0M | $61.7M | ||
| Q2 25 | $-26.0M | $-7.8M | ||
| Q1 25 | $12.3M | $17.3M | ||
| Q4 24 | $12.5M | $-8.6M | ||
| Q3 24 | $13.3M | $54.9M | ||
| Q2 24 | $35.8M | $25.9M |
| Q1 26 | — | — | ||
| Q4 25 | -7.6% | 19.6% | ||
| Q3 25 | 6.6% | 35.1% | ||
| Q2 25 | -23.5% | -4.5% | ||
| Q1 25 | 15.4% | 10.1% | ||
| Q4 24 | 11.6% | -5.3% | ||
| Q3 24 | 13.0% | 33.8% | ||
| Q2 24 | 36.1% | 16.6% |
| Q1 26 | — | — | ||
| Q4 25 | 4.8% | 13.0% | ||
| Q3 25 | 7.7% | 1.3% | ||
| Q2 25 | 11.0% | 8.2% | ||
| Q1 25 | 4.0% | 4.7% | ||
| Q4 24 | 1.4% | 10.1% | ||
| Q3 24 | 2.3% | 8.7% | ||
| Q2 24 | 2.0% | 6.6% |
| Q1 26 | — | — | ||
| Q4 25 | -0.50× | 2.14× | ||
| Q3 25 | 1.63× | 2.24× | ||
| Q2 25 | -1.00× | 0.25× | ||
| Q1 25 | — | 0.27× | ||
| Q4 24 | 1.79× | 0.29× | ||
| Q3 24 | — | 2.68× | ||
| Q2 24 | 3.21× | 1.32× |
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% |
WING
| Royalty revenue, franchise fees and other | $87.5M | 48% |
| Advertising fees | $63.3M | 34% |
| Company-owned restaurant sales | $33.0M | 18% |
