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.
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Analysis
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 Set
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
Download Data
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% |
API Access
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_KEYimport 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();