Shoals Technologies (SHLS) EV to FCF (2021 - 2025)
Shoals Technologies' (SHLS) EV to FCF came in at 159.30 for Q3 2025, compared with 11.13 a year earlier and up 172.5% from the prior quarter.
Powered by 
Analysis
Shoals Technologies (SHLS) EV to FCF (2021 - 2025) Analysis & Trends
For the trailing twelve months through Sep 30, 2025, EV to FCF at Shoals Technologies was 151.05; for FY2024, it was 12.48, down 61.2% from FY2023.
- In prior years, Shoals Technologies' EV to FCF was 32.21 in FY2023 (-72.0%) and 115.10 in FY2022.
- The Q3 2025 figure stands as the highest quarterly EV to FCF since Q3 2022.
- On a year-over-year basis, EV to FCF increased in 1 of the last seven quarters, with growth averaging 2.6%.
- The strongest year-over-year quarter for EV to FCF in the past five years was Q2 2025, with growth of 425.6%; the weakest was Q3 2023, with a decline of 96.6%.
- According to Business Quant data, EV to FCF for the three prior quarters was 58.46 (Q2 2025), 7.02 (Q1 2025) and 12.48 (Q4 2024).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | GE Vernova | 252.99 Bn | 214.06 Bn | 2.36 Bn |
| 2 | Bloom Energy | 81.25 Bn | 73.07 Bn | 355.57 Mn |
| 3 | First Solar | 18.82 Bn | 9.78 Bn | 605.00 Mn |
| 4 | BWX Technologies | 12.55 Bn | 10.85 Bn | 202.31 Mn |
| 5 | Generac Holdings | 12.21 Bn | 11.04 Bn | 521.81 Mn |
| 6 | Nextpower | 11.82 Bn | 7.71 Bn | 335.85 Mn |
| 7 | EnerSys | 6.67 Bn | 4.86 Bn | 313.36 Mn |
| 8 | Enphase Energy | 4.36 Bn | -500.13 Mn | 175.01 Mn |
| 9 | Mirion Technologies | 3.45 Bn | 1.34 Bn | 133.10 Mn |
| 10 | Shoals Technologies | 1.36 Bn | 1.33 Bn | 49.53 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2025 | 159.30 |
| Jun 30, 2025 | 58.46 |
| Mar 31, 2025 | 7.02 |
| Dec 31, 2024 | 12.48 |
| Sep 30, 2024 | 11.13 |
| Jun 30, 2024 | 11.12 |
| Mar 31, 2024 | 22.54 |
| Dec 31, 2023 | 32.21 |
| Sep 30, 2023 | 33.80 |
| Jun 30, 2023 | 55.15 |
| Mar 31, 2023 | 54.46 |
| Dec 31, 2022 | 115.10 |
| Sep 30, 2022 | 1,004.73 |
| Sep 30, 2021 | 727.84 |
| Jun 30, 2021 | 337.78 |
| Mar 31, 2021 | 382.96 |
API Access
Shoals Technologies EV to FCF 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=ev-to-fcf&ticker=SHLS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-fcf", "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=ev-to-fcf&ticker=SHLS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();