SHLS
Shoals Technologies Group, Inc.

Shoals Technologies Group, Inc.SHLS

Technology · Solar
8.15USD
+4.02%
Sep 23, 2026
SHLS overview ready
Key Supplier of Engineered EBOS Systems Connecting Solar and Storage Projects
Shoals is a specialized electrical-infrastructure supplier for utility-scale solar and storage projects, selling engineered EBOS systems and components that reduce field-installation labor and connect solar arrays or battery systems into the project power architecture.
Strong narrative exposure
Exposed to the Electric Grid Capacity Expansion narrative through Utility-Scale Solar and Storage Electrical Collection Systems — bottleneck supplier.
Price trend is broken
Longer-term context reads early recovery, with a near-term setup of reclaim attempt.
Fair valuation
The price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably….
Fundamentals under pressure
Free cash flow yield is weak.
Primary risk
Exposure to solar industry project cycle volatility.
Market Sep 22Filing Jun 30Price action Sep 22Research Aug 30

Conviction Level

NarrativeHeat9.1ThemeHeat9.0PriceAction7.4Valuation5.5CompanyPosition7.3
Price
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Price Action

Price trend is broken
Longer-term context reads early recovery, with a near-term setup of reclaim attempt.
EntryReset + recovery

The stock is still rebuilding below its long-term weekly base, and the recent reset toward the daily SMA200 aligned with support at the weekly SMA100. Daily structure is recovering above the fast averages, improving the current entry location.

Key Financials

Market Cap
$1.3B
Avg Volume (60D)
5.0M
60 sessions
Revenue Growth YoY
+19.1%
FY2025 vs FY2024
Gross Margin
+31.9%
Trailing twelve months
Operating Margin
+10.6%
Trailing twelve months
Free Cash Flow Yield
-3.7%
Distance from 200DMA
-5.3%
Next Earnings
2026-11-03
P/E
43.5x
EV / EBITDA
20.0x
EV / Sales
2.7x
Market metrics as of Sep 22, 2026
Financial results for the period ended Jun 30, 2026
Filed balance-sheet data as of Jun 30, 2026

Fundamentals & Valuation

Two of the three valuation perspectives say fair; intrinsic is the dissenting view.
Shoals Technologies Group, Inc. has a Fair valuation stance because the price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.

Company Research

Thesis
Shoals is a specialized electrical-infrastructure supplier for utility-scale solar and storage projects, selling engineered EBOS systems and components that reduce field-installation labor and connect solar arrays or battery systems into the project power architecture.
Opportunity
Moderate opportunity
Deployment of utility-scale solar, standalone storage, and solar-plus-storage requires DC collection, cabling, combiners, connectors, disconnects, monitoring, and related electrical infrastructure to move power safely and efficiently from generation or batteries to inverters and the grid.
Key risk
Exposure to solar industry project cycle volatility.

Narrative & Theme

Electric Grid Capacity Expansion
Part of Utility-Scale Solar and Storage Electrical Collection Systems, with strong fit.
SHLS has a direct, revenue-linked exposure to utility-scale solar and storage construction rather than a generic clean-energy adjacency.
Narrative HeatHot9.1 / 10
Theme HeatHot9.0 / 10

Business & Markets

Technology · Solar
What they do

Shoals Technologies Group designs, manufactures, and sells electrical balance of system (EBOS) components and solutions primarily for the solar and battery storage industries in the US and internationally.

How it earns

The company generates revenue through transactional sales of hardware products and related technical support services.

Products & services
Solar big lead assembly (BLA) solutions
Homeruns, interconnection, and extension solutions
Combiners and re-combiners
Load break disconnects and transition solutions
Wireless performance monitoring
Battery energy storage solutions (BESS)
OEM components
Technical support
Customers & end markets
Solar industry installers and developers
Battery storage industry participants
Market position

Shoals is a structurally essential leader in the solar electrical balance of system market.

Demand drivers
Medium cyclicality

Demand is linked to solar project development cycles and renewable energy policy environments.

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