Shoals Technologies (SHLS) Retained Earnings (2021 - 2026)
Shoals Technologies' (SHLS) quarterly Retained Earnings came in at $131.9 million in Q1 2026, up 34.14% YoY from $98.3 million in Q1 2025, and little changed on a QoQ basis from $132.2 million in Q4 2025.
Shoals Technologies (SHLS) Retained Earnings (2021 - 2026) Analysis & Trends
Shoals Technologies (SHLS) has 6 years of Retained Earnings data on file, last reported at $131.9 million in Q1 2026.
- Quarterly Retained Earnings rose 34.14% year-over-year to $131.9 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $131.9 million (up 34.14% YoY) and the FY2025 annual result came in at $132.2 million, up 34.06% from the prior year.
- Retained Earnings held at $131.9 million in Q1 2026, from $132.2 million in the prior quarter.
- In the past five years, Retained Earnings ranged from a high of $488.5 million in Q2 2025 to a low of -$90.5 million in Q1 2022.
- A 5-year average of $184.5 million and a median of $104.5 million in 2022 frame the typical range for Retained Earnings.
- Annual changes were most pronounced in 2022 — Retained Earnings tumbled 209.14% — and 2023, when it surged 605.35%.
- Tracing SHLS's Retained Earnings over 5 years: stood at $34.5 million in 2022, then soared by 115.94% to $74.5 million in 2023, then jumped by 32.41% to $98.6 million in 2024, then surged by 34.06% to $132.2 million in 2025, then decreased by 0.22% to $131.9 million in 2026.
- The last three Retained Earnings figures came in at $131.9 million (Q1 2026), $132.2 million (Q4 2025), and $124.0 million (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Retained Earnings (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 23.03 Bn | 21.30 Bn | 605.00 Mn | 7.56 Bn |
| 2 | Nextpower | 13.25 Bn | 12.03 Bn | 335.85 Mn | 4.36 Bn |
| 3 | Enphase Energy | 5.07 Bn | 4.13 Bn | 175.01 Mn | 1.36 Bn |
| 4 | Sunrun | 2.24 Bn | 2.24 Bn | 527.54 Mn | 6.97 Bn |
| 5 | Solaredge Technologies | 1.89 Bn | 1.31 Bn | 95.15 Mn | 1.93 Bn |
| 6 | Shoals Technologies | 1.24 Bn | 1.22 Bn | 49.53 Mn | 498.50 Mn |
| 7 | Canadian Solar | 991.33 Mn | -596.96 Mn | 124.40 Mn | 1.48 Bn |
| 8 | JinkoSolar Holding | 831.90 Mn | -2.48 Bn | 147.66 Mn | - |
| 9 | Array Technologies | 727.79 Mn | 420.48 Mn | 99.60 Mn | -396.52 Mn |
| 10 | Toyo | 170.12 Mn | 93.48 Mn | 47.76 Mn | 118.39 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 498.50 Mn |
| Mar 31, 2026 | 131.86 Mn |
| Dec 31, 2025 | 132.15 Mn |
| Sep 30, 2025 | 124.03 Mn |
| Jun 30, 2025 | 488.53 Mn |
| Mar 31, 2025 | 98.30 Mn |
| Dec 31, 2024 | 98.58 Mn |
| Sep 30, 2024 | 90.76 Mn |
| Jun 30, 2024 | 468.79 Mn |
| Mar 31, 2024 | 474.75 Mn |
| Dec 31, 2023 | 74.45 Mn |
| Sep 30, 2023 | 466.77 Mn |
| Jun 30, 2023 | 67.70 Mn |
| Mar 31, 2023 | 457.30 Mn |
| Dec 31, 2022 | 34.48 Mn |
| Sep 30, 2022 | 104.54 Mn |
| Jun 30, 2022 | -86.09 Mn |
| Mar 31, 2022 | -90.49 Mn |
| Dec 31, 2021 | -93.13 Mn |
| Sep 30, 2021 | 92.15 Mn |