Shoals Technologies (SHLS) FCF Margin (2020 - 2026)
Shoals Technologies' FCF Margin was 13.32% in Q3 2026, up 6.72 percentage points from 6.60% a year earlier and up 13.45 percentage points from the prior quarter.
Shoals Technologies (SHLS) FCF Margin (2020 - 2026) Analysis & Trends
On a trailing twelve-month basis, Shoals Technologies' FCF Margin was -5.33% through Sep 30, 2026, down 7.12 percentage points year-over-year; for FY2025, it was -3.36%, down 21.40 percentage points from FY2024.
- FCF Margin shows a five-year change of -32.33 percentage points (FY2020 to FY2025).
- In earlier years, FCF Margin was 18.03% in FY2024 (+1.39 pp), 16.64% in FY2023 (+5.54 pp), 11.10% in FY2022 (+14.95 pp) and -3.85% in FY2021 (-32.82 pp).
- The Q3 2026 figure marks the highest quarterly FCF Margin since Q1 2025.
- Compared with a year earlier, FCF Margin was higher in three of the last eight quarters, with an average year-over-year change of -13.49 percentage points.
- The best year-over-year quarter for FCF Margin over five years was Q1 2023 (a gain of 46.87 percentage points); the worst was Q2 2025 (a drop of 59.61 percentage points).
- Per Business Quant data, SHLS's FCF Margin in the three quarters before Q3 2026 was -0.13% (Q2 2026), -34.93% (Q1 2026) and -7.59% (Q4 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 212.47 Bn | 164.72 Bn | 3.11 Bn | 42.79% |
| 2 | Bloom Energy | 56.73 Bn | 46.66 Bn | 417.10 Mn | -14.62% |
| 3 | First Solar | 18.42 Bn | 9.79 Bn | 713.06 Mn | -16.07% |
| 4 | Nextpower | 14.32 Bn | 10.03 Bn | 345.32 Mn | 12.17% |
| 5 | BWX Technologies | 11.27 Bn | 9.04 Bn | 227.14 Mn | 15.79% |
| 6 | Generac Holdings | 11.25 Bn | 9.99 Bn | 516.04 Mn | 10.17% |
| 7 | Innio | 10.93 Bn | 7.17 Bn | 367.70 Mn | 17.53% |
| 8 | EnerSys | 5.13 Bn | 3.44 Bn | 284.35 Mn | 18.94% |
| 9 | Mirion Technologies | 4.30 Bn | 2.71 Bn | 131.50 Mn | 17.03% |
| 10 | Shoals Technologies | 1.40 Bn | 1.36 Bn | 62.40 Mn | 13.32% |
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 13.32% |
| Jun 30, 2026 | -0.13% |
| Mar 31, 2026 | -34.93% |
| Dec 31, 2025 | -7.59% |
| Sep 30, 2025 | 6.60% |
| Jun 30, 2025 | -23.49% |
| Mar 31, 2025 | 15.37% |
| Dec 31, 2024 | 11.64% |
| Sep 30, 2024 | 13.04% |
| Jun 30, 2024 | 36.11% |
| Mar 31, 2024 | 11.43% |
| Dec 31, 2023 | 18.02% |
| Sep 30, 2023 | 18.19% |
| Jun 30, 2023 | 21.43% |
| Mar 31, 2023 | 7.53% |
| Dec 31, 2022 | 35.58% |
| Sep 30, 2022 | 12.68% |
| Jun 30, 2022 | 24.29% |
| Mar 31, 2022 | -39.34% |
| Dec 31, 2021 | 1.98% |
Shoals Technologies FCF 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=fcf-margin&ticker=SHLS&period=max&api_key=YOUR_API_KEY
import requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-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=fcf-margin&ticker=SHLS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();