Shoals Technologies (SHLS) Gross Margin (2020 - 2026)
Shoals Technologies' (SHLS) quarterly Gross Margin came in at 30.31% in Q2 2026, down 686.0% on a YoY basis from 5.17% in Q2 2025, and up 3.9% quarter-over-quarter from 29.18% in Q1 2026.
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Shoals Technologies (SHLS) Gross Margin (2020 - 2026) Analysis & Trends
Shoals Technologies (SHLS) has reported Gross Margin for 7 consecutive years, with 30.31% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Gross Margin fell 686.0% year-over-year to 30.31%; the trailing twelve-month figure through Jun 2026 stood at 31.92% (down 178.0% YoY), and the FY2025 full-year result was 35.03%, down 54.0% from the prior year.
- Gross Margin improved to 30.31% in Q2 2026 per SHLS's latest filing, from 29.18% in the prior quarter.
- Across five years, Gross Margin topped out at 45.92% in Q1 2023 and bottomed at 10.54% in Q3 2023.
- Historically, Gross Margin has averaged 35.8% across 5 years, with a median of 38.12% in 2022.
- The sharpest annual moves came in 2023 and 2024: Gross Margin plunged 2915 bps in 2023, then jumped 1429 bps in 2024.
- Over 5 years, Gross Margin stood at 42.66% in 2022, then retreated by 0 bps to 42.46% in 2023, then retreated by 12 bps to 37.56% in 2024, then fell by 16 bps to 31.63% in 2025, then declined by 4 bps to 30.31% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 30.31%, 29.18%, and 31.63% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 21.97 Bn | 20.25 Bn | 605.00 Mn | 57.28% |
| 2 | Nextpower | 12.81 Bn | 11.60 Bn | 335.85 Mn | 35.91% |
| 3 | Enphase Energy | 4.81 Bn | 3.87 Bn | 175.01 Mn | 59.97% |
| 4 | Solaredge Technologies | 2.10 Bn | 1.52 Bn | 95.15 Mn | 27.48% |
| 5 | T1 Energy | 1.29 Bn | 1.14 Bn | 49.10 Mn | 19.63% |
| 6 | Shoals Technologies | 1.20 Bn | 1.18 Bn | 49.53 Mn | 30.31% |
| 7 | Canadian Solar | 896.45 Mn | 597.20 Mn | 168.48 Mn | 13.95% |
| 8 | Array Technologies | 708.44 Mn | 401.13 Mn | 99.60 Mn | 29.12% |
| 9 | JinkoSolar Holding | 627.24 Mn | -480.04 Mn | 75.62 Mn | 4.15% |
| 10 | Toyo | 133.94 Mn | 23.90 Mn | 36.97 Mn | 31.28% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 30.31% |
| Mar 31, 2026 | 29.18% |
| Dec 31, 2025 | 31.63% |
| Sep 30, 2025 | 37.00% |
| Jun 30, 2025 | 37.17% |
| Mar 31, 2025 | 35.02% |
| Dec 31, 2024 | 37.56% |
| Sep 30, 2024 | 24.84% |
| Jun 30, 2024 | 40.30% |
| Mar 31, 2024 | 40.15% |
| Dec 31, 2023 | 42.46% |
| Sep 30, 2023 | 10.54% |
| Jun 30, 2023 | 42.38% |
| Mar 31, 2023 | 45.92% |
| Dec 31, 2022 | 42.66% |
| Sep 30, 2022 | 39.69% |
| Jun 30, 2022 | 38.91% |
| Mar 31, 2022 | 38.68% |
| Dec 31, 2021 | 33.14% |
| Sep 30, 2021 | 36.38% |