Shoals Technologies (SHLS) Invested Capital (2020 - 2026)
Shoals Technologies' Invested Capital came in at $813.97 million for Q2 2026, up 15.1% from $707.16 million a year earlier and up 3.9% from the prior quarter.
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Analysis
Shoals Technologies (SHLS) Invested Capital (2020 - 2026) Analysis & Trends
For FY2025, Shoals Technologies' Invested Capital was $736.72 million, up 5.5% from FY2024.
- Invested Capital has increased in each of the last four years.
- Going back by year, Invested Capital was $698.55 million in FY2024 (+19.0%), $587 million in FY2023 (+67.2%), $350.99 million in FY2022 (+607.0%) and $49.64 million in FY2021.
- The Q2 2026 figure represents the highest quarterly Invested Capital in data going back to Q4 2020.
- Year-over-year, Invested Capital has increased for five consecutive quarters, with growth averaging 10.7% over the last eight quarters.
- The fastest year-over-year change in Invested Capital over five years came in Q4 2022 (growth of 607.0%), and the weakest in Q1 2025 (a decline of 3.1%).
- Business Quant data shows SHLS's Invested Capital at $783.4 million (Q1 2026), $736.72 million (Q4 2025) and $716.39 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 252.99 Bn | 214.06 Bn | 2.36 Bn | 15.91 Bn |
| 2 | Bloom Energy | 81.25 Bn | 73.07 Bn | 355.57 Mn | 1.64 Bn |
| 3 | First Solar | 18.82 Bn | 9.78 Bn | 605.00 Mn | 10.36 Bn |
| 4 | BWX Technologies | 12.55 Bn | 10.85 Bn | 202.31 Mn | 3.35 Bn |
| 5 | Generac Holdings | 12.21 Bn | 11.04 Bn | 521.81 Mn | 4.21 Bn |
| 6 | Nextpower | 11.82 Bn | 7.71 Bn | 335.85 Mn | - |
| 7 | EnerSys | 6.67 Bn | 4.86 Bn | 313.36 Mn | 3.01 Bn |
| 8 | Enphase Energy | 4.36 Bn | -500.13 Mn | 175.01 Mn | 1.75 Bn |
| 9 | Mirion Technologies | 3.45 Bn | 1.34 Bn | 133.10 Mn | 2.32 Bn |
| 10 | Shoals Technologies | 1.36 Bn | 1.33 Bn | 49.53 Mn | 813.97 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 813.97 Mn |
| Mar 31, 2026 | 783.40 Mn |
| Dec 31, 2025 | 736.72 Mn |
| Sep 30, 2025 | 716.39 Mn |
| Jun 30, 2025 | 707.16 Mn |
| Mar 31, 2025 | 700.68 Mn |
| Dec 31, 2024 | 698.55 Mn |
| Sep 30, 2024 | 686.95 Mn |
| Jun 30, 2024 | 691.34 Mn |
| Mar 31, 2024 | 722.73 Mn |
| Dec 31, 2023 | 587.00 Mn |
| Sep 30, 2023 | 526.64 Mn |
| Jun 30, 2023 | 551.41 Mn |
| Mar 31, 2023 | 553.08 Mn |
| Dec 31, 2022 | 350.99 Mn |
| Sep 30, 2022 | 110.31 Mn |
| Jun 30, 2022 | 95.58 Mn |
| Mar 31, 2022 | 90.69 Mn |
| Dec 31, 2021 | 49.64 Mn |
| Sep 30, 2021 | 51.01 Mn |
API Access
Shoals Technologies Invested Capital 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=invested-capital&ticker=SHLS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "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=invested-capital&ticker=SHLS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();