Growth Metrics

Shoals Technologies (SHLS) Retained Earnings (2021 - 2026)

Shoals Technologies posted quarterly Retained Earnings of $131.9 million for Q1 2026, up 34.14% year-on-year from $98.3 million in Q1 2025, and little changed on a QoQ basis from $132.2 million in Q4 2025.

Shoals Technologies (SHLS) has 6 years of Retained Earnings data on file, last reported at $131.9 million in Q1 2026.

  • For the quarter ending Q1 2026, Retained Earnings rose 34.14% year-over-year to $131.9 million; the trailing twelve-month figure through Mar 2026 stood at $131.9 million (up 34.14% YoY), and the FY2025 full-year result was $132.2 million, up 34.06% from the prior year.
  • Retained Earnings for Q1 2026 stood at $131.9 million, roughly flat from $132.2 million in the prior quarter.
  • Across five years, Retained Earnings topped out at $132.2 million in Q4 2025 and bottomed at -$90.5 million in Q1 2022.
  • The 5-year median for Retained Earnings is $79.2 million (2024), against an average of $58.0 million.
  • The widest annual swing landed in 2022, when Retained Earnings advanced 7.98%; it then surged 178.64% in 2023.
  • A 5-year view of Retained Earnings shows it stood at $34.5 million in 2022, then jumped by 115.94% to $74.5 million in 2023, then surged by 32.41% to $98.6 million in 2024, then soared by 34.06% to $132.2 million in 2025, then slipped 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.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Retained Earnings (Qtr)
1 First Solar 26.65 Bn 24.22 Bn 486.13 Mn -168.20 Mn
2 Nextpower 17.99 Bn 16.90 Bn 297.38 Mn 183,000.00
3 Canadian Solar 15.11 Bn 15.69 Bn 124.40 Mn 1.48 Bn
4 Enphase Energy 8.19 Bn 7.26 Bn 100.39 Mn -211.30 Mn
5 Solaredge Technologies 3.80 Bn 3.25 Bn 68.28 Mn 4.94 Mn
6 Sunrun 3.38 Bn 4.27 Bn 543.70 Mn -3.66 Bn
7 Shoals Technologies 1.60 Bn 1.60 Bn 41.01 Mn 131.86 Mn
8 Array Technologies 1.25 Bn 1.05 Bn 63.00 Mn -420.86 Mn
9 JinkoSolar Holding 677.44 Mn 2.29 Bn 147.66 Mn -
10 Tigo Energy 288.14 Mn 276.56 Mn 10.79 Mn -142.16 Mn

Historic Data

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DateValue
Mar 31, 2026 131.86 Mn
Dec 31, 2025 132.15 Mn
Sep 30, 2025 124.03 Mn
Jun 30, 2025 112.15 Mn
Mar 31, 2025 98.30 Mn
Dec 31, 2024 98.58 Mn
Sep 30, 2024 90.76 Mn
Jun 30, 2024 91.03 Mn
Mar 31, 2024 79.23 Mn
Dec 31, 2023 74.45 Mn
Sep 30, 2023 57.87 Mn
Jun 30, 2023 67.70 Mn
Mar 31, 2023 48.77 Mn
Dec 31, 2022 34.48 Mn
Sep 30, 2022 -78.13 Mn
Jun 30, 2022 -86.09 Mn
Mar 31, 2022 -90.49 Mn
Dec 31, 2021 -93.13 Mn
Sep 30, 2021 -91.30 Mn
Jun 30, 2021 -93.78 Mn
Mar 31, 2021 -98.34 Mn