Shoals Technologies (SHLS) EBITDA Margin (2020 - 2026)
Shoals Technologies (SHLS) posted EBITDA Margin of 17.63% for Q3 2026, up 1.29 percentage points from 16.34% a year earlier and up 3.24 percentage points from the prior quarter.
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Analysis
Shoals Technologies (SHLS) EBITDA Margin (2020 - 2026) Analysis & Trends
For the trailing twelve months through Sep 30, 2026, EBITDA Margin at Shoals Technologies was 14.10%, down 1.88 percentage points year-over-year; for FY2025, it came in at 14.90%, down 1.86 percentage points from FY2024.
- Annual EBITDA Margin has declined for five consecutive years, with a five-year change of -11.90 percentage points (FY2020 to FY2025).
- In prior years, Shoals Technologies' EBITDA Margin was 16.76% in FY2024 (-2.00 pp), 18.76% in FY2023 (-5.16 pp), 23.92% in FY2022 (-0.59 pp) and 24.51% in FY2021 (-2.29 pp).
- The Q3 2026 figure stands as the highest quarterly EBITDA Margin since Q4 2024.
- On a year-over-year basis, EBITDA Margin increased in two of the last eight quarters, with an average year-over-year change of -2.65 percentage points.
- The strongest year-over-year quarter for EBITDA Margin in the past five years was Q4 2022, with a gain of 15.92 percentage points; the weakest was Q3 2023, with a drop of 30.86 percentage points.
- According to Business Quant data, EBITDA Margin for the three prior quarters was 14.39% (Q2 2026), 8.52% (Q1 2026) and 14.42% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 212.47 Bn | 164.72 Bn | 3.11 Bn | 14.50% |
| 2 | Bloom Energy | 56.73 Bn | 46.66 Bn | 417.10 Mn | 19.62% |
| 3 | First Solar | 18.42 Bn | 9.79 Bn | 713.06 Mn | 56.39% |
| 4 | Nextpower | 14.32 Bn | 10.03 Bn | 345.32 Mn | 20.06% |
| 5 | BWX Technologies | 11.27 Bn | 9.04 Bn | 227.14 Mn | 17.38% |
| 6 | Generac Holdings | 11.25 Bn | 9.99 Bn | 516.04 Mn | 19.08% |
| 7 | Innio | 10.93 Bn | 7.17 Bn | 367.70 Mn | 19.92% |
| 8 | EnerSys | 5.13 Bn | 3.44 Bn | 284.35 Mn | 15.24% |
| 9 | Mirion Technologies | 4.30 Bn | 2.71 Bn | 131.50 Mn | 20.45% |
| 10 | Shoals Technologies | 1.40 Bn | 1.36 Bn | 62.40 Mn | 17.63% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 17.63% |
| Jun 30, 2026 | 14.39% |
| Mar 31, 2026 | 8.52% |
| Dec 31, 2025 | 14.42% |
| Sep 30, 2025 | 16.34% |
| Jun 30, 2025 | 17.58% |
| Mar 31, 2025 | 9.65% |
| Dec 31, 2024 | 18.63% |
| Sep 30, 2024 | 7.67% |
| Jun 30, 2024 | 22.08% |
| Mar 31, 2024 | 18.95% |
| Dec 31, 2023 | 27.44% |
| Sep 30, 2023 | -5.65% |
| Jun 30, 2023 | 28.99% |
| Mar 31, 2023 | 27.56% |
| Dec 31, 2022 | 27.71% |
| Sep 30, 2022 | 25.22% |
| Jun 30, 2022 | 21.91% |
| Mar 31, 2022 | 19.09% |
| Dec 31, 2021 | 11.79% |
API Access
Shoals Technologies EBITDA Margin 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=ebitda-margin&ticker=SHLS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "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=ebitda-margin&ticker=SHLS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();