Growth Metrics

Shoals Technologies (SHLS) Equity Ratio (2020 - 2026)

Shoals Technologies posted quarterly Equity Ratio of 0.58 for Q1 2026, down 17.68% year-on-year from 0.71 in Q1 2025, and down 12.05% on a QoQ basis from 0.66 in Q4 2025.

Shoals Technologies (SHLS) has 7 years of Equity Ratio data on file, last reported at 0.58 in Q1 2026.

  • For the quarter ending Q1 2026, Equity Ratio fell 17.68% year-over-year to 0.58; the trailing twelve-month figure through Mar 2026 stood at 0.58 (down 17.68% YoY), and the FY2025 full-year result was 0.66, down 5.48% from the prior year.
  • Equity Ratio for Q1 2026 stood at 0.58, down from 0.66 in the prior quarter.
  • Across five years, Equity Ratio topped out at 0.72 in Q2 2025 and bottomed at 0.0 in Q1 2022.
  • The 5-year median for Equity Ratio is 0.65 (2023), against an average of 0.54.
  • The widest annual swing landed in 2023, when Equity Ratio surged 20608.17%; it then fell 17.68% in 2026.
  • A 5-year view of Equity Ratio shows it stood at 0.51 in 2022, then grew by 27.63% to 0.65 in 2023, then rose by 8.72% to 0.7 in 2024, then declined by 5.48% to 0.66 in 2025, then slipped by 12.05% to 0.58 in 2026.
  • The last three Equity Ratio figures came in at 0.58 (Q1 2026), 0.66 (Q4 2025), and 0.69 (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Equity Ratio (Qtr)
1 First Solar 26.65 Bn 24.22 Bn 486.13 Mn 0.74
2 Nextpower 17.99 Bn 16.90 Bn 297.38 Mn 0.57
3 Canadian Solar 15.11 Bn 15.69 Bn 124.40 Mn 0.26
4 Enphase Energy 8.19 Bn 7.26 Bn 100.39 Mn 0.40
5 Solaredge Technologies 3.80 Bn 3.25 Bn 68.28 Mn 0.18
6 Sunrun 3.38 Bn 4.27 Bn 543.70 Mn 0.15
7 Shoals Technologies 1.60 Bn 1.60 Bn 41.01 Mn 0.58
8 Array Technologies 1.25 Bn 1.05 Bn 63.00 Mn -0.15
9 JinkoSolar Holding 677.44 Mn 2.29 Bn 147.66 Mn 0.22
10 Tigo Energy 288.14 Mn 276.56 Mn 10.79 Mn 0.55

Historic Data

Download Data 🔒
DateValue
Mar 31, 2026 0.58
Dec 31, 2025 0.66
Sep 30, 2025 0.69
Jun 30, 2025 0.72
Mar 31, 2025 0.71
Dec 31, 2024 0.70
Sep 30, 2024 0.68
Jun 30, 2024 0.69
Mar 31, 2024 0.67
Dec 31, 2023 0.65
Sep 30, 2023 0.62
Jun 30, 2023 0.65
Mar 31, 2023 0.63
Dec 31, 2022 0.51
Sep 30, 2022 0.04
Jun 30, 2022 0.02
Mar 31, 2022 0.00
Dec 31, 2021 -0.02
Sep 30, 2021 -0.03
Jun 30, 2021 -0.13
Mar 31, 2021 -0.17
Dec 31, 2020 -0.94