Shoals Technologies (SHLS) Net Margin (2020 - 2026)
Shoals Technologies' Net Margin came in at 9.15% for Q3 2026, up 0.40 percentage points from 8.75% a year earlier and up 1.72 percentage points from the prior quarter.
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Analysis
Shoals Technologies (SHLS) Net Margin (2020 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 30, 2026, Shoals Technologies reported Net Margin of 5.84%, down 1.82 percentage points year-over-year; for FY2025, it was 7.06%, up 1.02 percentage points from FY2024.
- Net Margin carries a five-year change of -12.17 percentage points (FY2020 to FY2025).
- Going back by year, Net Margin was 6.04% in FY2024 (-2.13 pp), 8.18% in FY2023 (-30.86 pp), 39.03% in FY2022 (+37.93 pp) and 1.10% in FY2021 (-18.14 pp).
- The Q3 2026 figure represents the highest quarterly Net Margin since Q2 2025.
- Year-over-year, Net Margin increased in four of the last eight quarters, with an average year-over-year change of -0.97 percentage points.
- The fastest year-over-year change in Net Margin over five years came in Q4 2022 (a gain of 122.80 percentage points), and the weakest in Q4 2023 (a drop of 106.26 percentage points).
- Business Quant data shows SHLS's Net Margin at 7.43% (Q2 2026), -0.21% (Q1 2026) and 5.48% (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 212.47 Bn | 164.72 Bn | 3.11 Bn | 10.21% |
| 2 | Bloom Energy | 56.73 Bn | 46.66 Bn | 417.10 Mn | 20.25% |
| 3 | First Solar | 18.42 Bn | 9.79 Bn | 713.06 Mn | 46.39% |
| 4 | Nextpower | 14.32 Bn | 10.03 Bn | 345.32 Mn | 14.92% |
| 5 | BWX Technologies | 11.27 Bn | 9.04 Bn | 227.14 Mn | 10.67% |
| 6 | Generac Holdings | 11.25 Bn | 9.99 Bn | 516.04 Mn | 8.44% |
| 7 | Innio | 10.93 Bn | 7.17 Bn | 367.70 Mn | 9.50% |
| 8 | EnerSys | 5.13 Bn | 3.44 Bn | 284.35 Mn | 9.43% |
| 9 | Mirion Technologies | 4.30 Bn | 2.71 Bn | 131.50 Mn | 2.66% |
| 10 | Shoals Technologies | 1.40 Bn | 1.36 Bn | 62.40 Mn | 9.15% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 9.15% |
| Jun 30, 2026 | 7.43% |
| Mar 31, 2026 | -0.21% |
| Dec 31, 2025 | 5.48% |
| Sep 30, 2025 | 8.75% |
| Jun 30, 2025 | 12.50% |
| Mar 31, 2025 | -0.35% |
| Dec 31, 2024 | 7.31% |
| Sep 30, 2024 | -0.26% |
| Jun 30, 2024 | 11.89% |
| Mar 31, 2024 | 5.26% |
| Dec 31, 2023 | 12.71% |
| Sep 30, 2023 | -7.32% |
| Jun 30, 2023 | 15.87% |
| Mar 31, 2023 | 13.60% |
| Dec 31, 2022 | 118.97% |
| Sep 30, 2022 | 8.76% |
| Jun 30, 2022 | 5.99% |
| Mar 31, 2022 | 3.88% |
| Dec 31, 2021 | -3.82% |
API Access
Shoals Technologies Net 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=net-margin&ticker=SHLS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-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=net-margin&ticker=SHLS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();