Shoals Technologies (SHLS) Gross Margin (2020 - 2026)
Shoals Technologies (SHLS) posted Gross Margin of 31.95% for Q3 2026, down 5.06 percentage points from 37.00% a year earlier but up 1.63 percentage points from the prior quarter.
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Analysis
Shoals Technologies (SHLS) Gross Margin (2020 - 2026) Analysis & Trends
For the trailing twelve months through Sep 30, 2026, Gross Margin at Shoals Technologies was 30.86%, down 5.95 percentage points year-over-year; for FY2025, it came in at 35.03%, down 0.54 percentage points from FY2024.
- Annual Gross Margin shows a five-year change of -2.88 percentage points (FY2020 to FY2025).
- In prior years, Shoals Technologies' Gross Margin was 35.57% in FY2024 (+1.15 pp), 34.42% in FY2023 (-5.74 pp), 40.16% in FY2022 (+1.40 pp) and 38.76% in FY2021 (+0.85 pp).
- Quarterly Gross Margin has run from a low of 10.54% in Q3 2023 to a high of 45.92% in Q1 2023 over five years.
- On a year-over-year basis, Gross Margin has declined in each of the last four quarters, with an average year-over-year change of -3.08 percentage points over the last eight quarters.
- The strongest year-over-year quarter for Gross Margin in the past five years was Q3 2024, with a gain of 14.29 percentage points; the weakest was Q3 2023, with a drop of 29.15 percentage points.
- According to Business Quant data, Gross Margin for the three prior quarters was 30.31% (Q2 2026), 29.18% (Q1 2026) and 31.63% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 212.47 Bn | 164.72 Bn | 3.11 Bn | 24.58% |
| 2 | Bloom Energy | 56.73 Bn | 46.66 Bn | 417.10 Mn | 33.75% |
| 3 | First Solar | 18.42 Bn | 9.79 Bn | 713.06 Mn | 57.93% |
| 4 | Nextpower | 14.32 Bn | 10.03 Bn | 345.32 Mn | 31.13% |
| 5 | BWX Technologies | 11.27 Bn | 9.04 Bn | 227.14 Mn | 23.84% |
| 6 | Generac Holdings | 11.25 Bn | 9.99 Bn | 516.04 Mn | 39.86% |
| 7 | Innio | 10.93 Bn | 7.17 Bn | 367.70 Mn | 31.48% |
| 8 | EnerSys | 5.13 Bn | 3.44 Bn | 284.35 Mn | 29.93% |
| 9 | Mirion Technologies | 4.30 Bn | 2.71 Bn | 131.50 Mn | 47.34% |
| 10 | Shoals Technologies | 1.40 Bn | 1.36 Bn | 62.40 Mn | 31.95% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 31.95% |
| 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% |
API Access
Shoals Technologies Gross 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=gross-margin&ticker=SHLS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-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=gross-margin&ticker=SHLS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();