Shoals Technologies (SHLS) Cash from Operations (2020 - 2026)
Shoals Technologies' Cash from Operations was $28.85 million in Q3 2026, up 48.6% from $19.42 million a year earlier and up 323.8% from the prior quarter.
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Analysis
Shoals Technologies (SHLS) Cash from Operations (2020 - 2026) Analysis & Trends
On a trailing twelve-month basis, Shoals Technologies' Cash from Operations was -$9.88 million through Sep 30, 2026; for FY2025, it came in at $17.07 million, down 78.8% from FY2024.
- Cash from Operations shows a five-year compound annual growth rate of -20.6% (FY2020 to FY2025).
- In earlier years, Cash from Operations was $80.39 million in FY2024 (-12.6%), $91.96 million in FY2023 (+133.1%), $39.46 million in FY2022 and -$4.08 million in FY2021.
- The Q3 2026 figure marks the highest quarterly Cash from Operations since Q2 2024.
- Compared with a year earlier, Cash from Operations was higher in three of the last four quarters, with growth averaging 11.5%.
- The best year-over-year quarter for Cash from Operations over five years was Q2 2022 (growth of 421.6%); the worst was Q4 2021 (a decline of 83.7%).
- Per Business Quant data, SHLS's Cash from Operations in the three quarters before Q3 2026 was $6.81 million (Q2 2026), -$41.45 million (Q1 2026) and -$4.09 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cash from Ops. (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 212.47 Bn | 164.72 Bn | 3.11 Bn | 6.06 Bn |
| 2 | Bloom Energy | 56.73 Bn | 46.66 Bn | 417.10 Mn | -27.14 Mn |
| 3 | First Solar | 18.42 Bn | 9.79 Bn | 713.06 Mn | -42.95 Mn |
| 4 | Nextpower | 14.32 Bn | 10.03 Bn | 345.32 Mn | 158.10 Mn |
| 5 | BWX Technologies | 11.27 Bn | 9.04 Bn | 227.14 Mn | 202.72 Mn |
| 6 | Generac Holdings | 11.25 Bn | 9.99 Bn | 516.04 Mn | 170.99 Mn |
| 7 | Innio | 10.93 Bn | 7.17 Bn | 367.70 Mn | 297.90 Mn |
| 8 | EnerSys | 5.13 Bn | 3.44 Bn | 284.35 Mn | 142.66 Mn |
| 9 | Mirion Technologies | 4.30 Bn | 2.71 Bn | 131.50 Mn | 59.20 Mn |
| 10 | Shoals Technologies | 1.40 Bn | 1.36 Bn | 62.40 Mn | 28.85 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 28.85 Mn |
| Jun 30, 2026 | 6.81 Mn |
| Mar 31, 2026 | -41.45 Mn |
| Dec 31, 2025 | -4.09 Mn |
| Sep 30, 2025 | 19.42 Mn |
| Jun 30, 2025 | -13.82 Mn |
| Mar 31, 2025 | 15.56 Mn |
| Dec 31, 2024 | 13.99 Mn |
| Sep 30, 2024 | 15.70 Mn |
| Jun 30, 2024 | 37.84 Mn |
| Mar 31, 2024 | 12.86 Mn |
| Dec 31, 2023 | 26.45 Mn |
| Sep 30, 2023 | 27.67 Mn |
| Jun 30, 2023 | 27.92 Mn |
| Mar 31, 2023 | 9.91 Mn |
| Dec 31, 2022 | 34.44 Mn |
| Sep 30, 2022 | 11.76 Mn |
| Jun 30, 2022 | 19.12 Mn |
| Mar 31, 2022 | -25.86 Mn |
| Dec 31, 2021 | 2.60 Mn |
API Access
Shoals Technologies Cash from Operations API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cash-from-operations&ticker=SHLS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cash-from-operations", "ticker": "SHLS", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cash-from-operations&ticker=SHLS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();