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Shoals Technologies Group, Inc.（SHLS）与SunPower Inc.（SPWR）财务数据对比。点击上方公司名可切换其他公司
Shoals Technologies Group, Inc.的季度营收约是SunPower Inc.的1.9倍（$148.3M vs $79.7M），Shoals Technologies Group, Inc.净利率更高（5.5% vs -17.8%，领先23.2%），Shoals Technologies Group, Inc.同比增速更快（38.6% vs -10.1%），过去两年SunPower Inc.的营收复合增速更高（118.7% vs 27.8%）
Shoals科技集团是可再生能源及电动出行领域的电气系统平衡解决方案供应商，核心产品覆盖光伏、储能及充电桩用连接组件，主要服务北美、欧洲、亚太市场的公用事业、工商业及民用客户。
SunPower是一家美国光伏太阳能发电系统与储能电池产品供应商，主要服务住宅客户。公司由斯坦福大学电气工程教授理查德·斯旺森于1985年创立，总部位于加利福尼亚州圣何塞。赛普拉斯半导体2002年收购该公司多数股权后推动其快速发展，SunPower最终于2005年完成上市，目前是全球光伏领域知名企业。
SHLS vs SPWR — 直观对比
营收规模更大
SHLS
是对方的1.9倍
$79.7M
营收增速更快
SHLS
高出48.7%
-10.1%
净利率更高
SHLS
高出23.2%
-17.8%
两年增速更快
SPWR
近两年复合增速
27.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $148.3M | $79.7M |
| 净利润 | $8.1M | $-14.2M |
| 毛利率 | 31.6% | 35.5% |
| 营业利润率 | 11.7% | -27.4% |
| 净利率 | 5.5% | -17.8% |
| 营收同比 | 38.6% | -10.1% |
| 净利润同比 | 3.9% | -130.1% |
| 每股收益（稀释后） | $0.05 | $-0.05 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收SHLSSPWR
| Q4 25 | $148.3M | $79.7M | ||
| Q3 25 | $135.8M | $22.0M | ||
| Q2 25 | $110.8M | $67.5M | ||
| Q1 25 | $80.4M | $82.7M | ||
| Q4 24 | $107.0M | $88.7M | ||
| Q3 24 | $102.2M | — | ||
| Q2 24 | $99.2M | — | ||
| Q1 24 | $90.8M | — |
净利润SHLSSPWR
| Q4 25 | $8.1M | $-14.2M | ||
| Q3 25 | $11.9M | $-16.9M | ||
| Q2 25 | $13.9M | $-22.4M | ||
| Q1 25 | $-282.0K | $8.1M | ||
| Q4 24 | $7.8M | $47.0M | ||
| Q3 24 | $-267.0K | — | ||
| Q2 24 | $11.8M | — | ||
| Q1 24 | $4.8M | — |
毛利率SHLSSPWR
| Q4 25 | 31.6% | 35.5% | ||
| Q3 25 | 37.0% | — | ||
| Q2 25 | 37.2% | 42.6% | ||
| Q1 25 | 35.0% | 48.5% | ||
| Q4 24 | 37.6% | 46.5% | ||
| Q3 24 | 24.8% | — | ||
| Q2 24 | 40.3% | — | ||
| Q1 24 | 40.2% | — |
营业利润率SHLSSPWR
| Q4 25 | 11.7% | -27.4% | ||
| Q3 25 | 13.7% | -15.7% | ||
| Q2 25 | 14.4% | -4.0% | ||
| Q1 25 | 5.4% | 1.3% | ||
| Q4 24 | 15.4% | -24.2% | ||
| Q3 24 | 4.4% | — | ||
| Q2 24 | 18.7% | — | ||
| Q1 24 | 12.8% | — |
净利率SHLSSPWR
| Q4 25 | 5.5% | -17.8% | ||
| Q3 25 | 8.7% | -76.9% | ||
| Q2 25 | 12.5% | -33.2% | ||
| Q1 25 | -0.4% | 9.8% | ||
| Q4 24 | 7.3% | 53.0% | ||
| Q3 24 | -0.3% | — | ||
| Q2 24 | 11.9% | — | ||
| Q1 24 | 5.3% | — |
每股收益（稀释后）SHLSSPWR
| Q4 25 | $0.05 | $-0.05 | ||
| Q3 25 | $0.07 | $-0.19 | ||
| Q2 25 | $0.08 | $-0.28 | ||
| Q1 25 | $0.00 | $0.00 | ||
| Q4 24 | $0.04 | $0.27 | ||
| Q3 24 | $0.00 | — | ||
| Q2 24 | $0.07 | — | ||
| Q1 24 | $0.03 | — |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $7.3M | $9.6M |
| 总债务越低越好 | — | $164.8M |
| 股东权益账面价值 | $600.0M | $-90.1M |
| 总资产 | $904.1M | $241.2M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资SHLSSPWR
| Q4 25 | $7.3M | $9.6M | ||
| Q3 25 | $8.6M | $5.1M | ||
| Q2 25 | $4.7M | $11.1M | ||
| Q1 25 | $35.6M | $10.6M | ||
| Q4 24 | $23.5M | $13.4M | ||
| Q3 24 | $11.1M | — | ||
| Q2 24 | $3.2M | — | ||
| Q1 24 | $15.2M | — |
总债务SHLSSPWR
| Q4 25 | — | $164.8M | ||
| Q3 25 | — | $204.3M | ||
| Q2 25 | — | $152.9M | ||
| Q1 25 | $141.8M | — | ||
| Q4 24 | $141.8M | $147.3M | ||
| Q3 24 | $141.8M | — | ||
| Q2 24 | $146.8M | — | ||
| Q1 24 | $168.8M | — |
股东权益SHLSSPWR
| Q4 25 | $600.0M | $-90.1M | ||
| Q3 25 | $589.6M | $-112.3M | ||
| Q2 25 | $575.4M | $-107.2M | ||
| Q1 25 | $558.9M | $-89.0M | ||
| Q4 24 | $556.8M | $-97.5M | ||
| Q3 24 | $545.2M | — | ||
| Q2 24 | $544.6M | — | ||
| Q1 24 | $554.0M | — |
总资产SHLSSPWR
| Q4 25 | $904.1M | $241.2M | ||
| Q3 25 | $851.8M | $208.3M | ||
| Q2 25 | $795.0M | $163.1M | ||
| Q1 25 | $788.4M | $147.8M | ||
| Q4 24 | $793.1M | $144.5M | ||
| Q3 24 | $801.3M | — | ||
| Q2 24 | $788.4M | — | ||
| Q1 24 | $825.3M | — |
负债/权益比SHLSSPWR
| 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× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-4.1M | $-1.9M |
| 自由现金流经营现金流 - 资本支出 | $-11.3M | — |
| 自由现金流率自由现金流/营收 | -7.6% | — |
| 资本支出强度资本支出/营收 | 4.8% | — |
| 现金转化率经营现金流/净利润 | -0.50× | — |
| 过去12个月自由现金流最近4个季度 | $-16.0M | — |
8季度趋势，按日历期对齐
经营现金流SHLSSPWR
| Q4 25 | $-4.1M | $-1.9M | ||
| Q3 25 | $19.4M | $-6.4M | ||
| Q2 25 | $-13.8M | $-4.4M | ||
| Q1 25 | $15.6M | $-2.6M | ||
| Q4 24 | $14.0M | $-25.6M | ||
| Q3 24 | $15.7M | — | ||
| Q2 24 | $37.8M | — | ||
| Q1 24 | $12.9M | — |
自由现金流SHLSSPWR
| Q4 25 | $-11.3M | — | ||
| Q3 25 | $9.0M | — | ||
| Q2 25 | $-26.0M | — | ||
| Q1 25 | $12.3M | — | ||
| Q4 24 | $12.5M | — | ||
| Q3 24 | $13.3M | — | ||
| Q2 24 | $35.8M | — | ||
| Q1 24 | $10.4M | — |
自由现金流率SHLSSPWR
| Q4 25 | -7.6% | — | ||
| Q3 25 | 6.6% | — | ||
| Q2 25 | -23.5% | — | ||
| Q1 25 | 15.4% | — | ||
| Q4 24 | 11.6% | — | ||
| Q3 24 | 13.0% | — | ||
| Q2 24 | 36.1% | — | ||
| Q1 24 | 11.4% | — |
资本支出强度SHLSSPWR
| Q4 25 | 4.8% | — | ||
| Q3 25 | 7.7% | — | ||
| Q2 25 | 11.0% | — | ||
| Q1 25 | 4.0% | — | ||
| Q4 24 | 1.4% | — | ||
| Q3 24 | 2.3% | — | ||
| Q2 24 | 2.0% | — | ||
| Q1 24 | 2.7% | — |
现金转化率SHLSSPWR
| Q4 25 | -0.50× | — | ||
| Q3 25 | 1.63× | — | ||
| Q2 25 | -1.00× | — | ||
| Q1 25 | — | -0.32× | ||
| Q4 24 | 1.79× | -0.54× | ||
| Q3 24 | — | — | ||
| Q2 24 | 3.21× | — | ||
| Q1 24 | 2.69× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
SPWR
| Residential Solar Installation | $46.9M | 59% |
| New Homes Business | $22.7M | 29% |
| Other | $10.1M | 13% |
