Shoals Technologies (SHLS) Operating Income (2020 - 2026)
Shoals Technologies (SHLS) posted Operating Income of $28.97 million for Q3 2026, up 55.1% from $18.67 million a year earlier and up 54.7% from the prior quarter.
Powered by 
Analysis
Shoals Technologies (SHLS) Operating Income (2020 - 2026) Analysis & Trends
For the trailing twelve months through Sep 30, 2026, Operating Income at Shoals Technologies was $72.81 million, up 31.3% year-over-year; for FY2025, it was $56.39 million, up 10.2% from FY2024.
- Annual Operating Income shows a five-year compound annual growth rate of 8.6% (FY2020 to FY2025).
- In prior years, Shoals Technologies' Operating Income was $51.17 million in FY2024 (-35.3%), $79.04 million in FY2023 (+19.2%), $66.33 million in FY2022 (+83.1%) and $36.23 million in FY2021 (-2.8%).
- The Q3 2026 figure stands as the highest quarterly Operating Income since Q4 2023.
- On a year-over-year basis, Operating Income has increased in each of the last five quarters, with growth averaging 43.1% over the last eight quarters.
- The strongest year-over-year quarter for Operating Income in the past five years was Q4 2022, with growth of 772.2%; the weakest was Q1 2025, with a decline of 62.8%.
- According to Business Quant data, Operating Income for the three prior quarters was $18.72 million (Q2 2026), $7.72 million (Q1 2026) and $17.4 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Op. Inc (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 212.47 Bn | 164.72 Bn | 3.11 Bn | 1.39 Bn |
| 2 | Bloom Energy | 56.73 Bn | 46.66 Bn | 417.10 Mn | 225.45 Mn |
| 3 | First Solar | 18.42 Bn | 9.79 Bn | 713.06 Mn | 546.11 Mn |
| 4 | Nextpower | 14.32 Bn | 10.03 Bn | 345.32 Mn | 207.55 Mn |
| 5 | BWX Technologies | 11.27 Bn | 9.04 Bn | 227.14 Mn | 132.08 Mn |
| 6 | Generac Holdings | 11.25 Bn | 9.99 Bn | 516.04 Mn | 160.58 Mn |
| 7 | Innio | 10.93 Bn | 7.17 Bn | 367.70 Mn | 193.60 Mn |
| 8 | EnerSys | 5.13 Bn | 3.44 Bn | 284.35 Mn | 115.46 Mn |
| 9 | Mirion Technologies | 4.30 Bn | 2.71 Bn | 131.50 Mn | 17.20 Mn |
| 10 | Shoals Technologies | 1.40 Bn | 1.36 Bn | 62.40 Mn | 28.97 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 28.97 Mn |
| Jun 30, 2026 | 18.72 Mn |
| Mar 31, 2026 | 7.72 Mn |
| Dec 31, 2025 | 17.40 Mn |
| Sep 30, 2025 | 18.67 Mn |
| Jun 30, 2025 | 16.00 Mn |
| Mar 31, 2025 | 4.31 Mn |
| Dec 31, 2024 | 16.48 Mn |
| Sep 30, 2024 | 4.52 Mn |
| Jun 30, 2024 | 18.58 Mn |
| Mar 31, 2024 | 11.58 Mn |
| Dec 31, 2023 | 31.87 Mn |
| Sep 30, 2023 | -10.57 Mn |
| Jun 30, 2023 | 31.64 Mn |
| Mar 31, 2023 | 26.10 Mn |
| Dec 31, 2022 | 23.37 Mn |
| Sep 30, 2022 | 19.97 Mn |
| Jun 30, 2022 | 12.98 Mn |
| Mar 31, 2022 | 10.01 Mn |
| Dec 31, 2021 | 2.68 Mn |
API Access
Shoals Technologies Operating Income 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=operating-income&ticker=SHLS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-income", "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=operating-income&ticker=SHLS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();