Shoals Technologies (SHLS) Retained Earnings (2021 - 2026)
Shoals Technologies (SHLS) recorded Retained Earnings of $143.99 million in Q2 2026, up 28.4% from $112.15 million a year earlier and up 9.2% from the prior quarter.
Powered by 
Analysis
Shoals Technologies (SHLS) Retained Earnings (2021 - 2026) Analysis & Trends
At the end of FY2025, Shoals Technologies reported Retained Earnings of $132.15 million, up 34.1% from FY2024.
- Annual Retained Earnings has increased for three straight years.
- Across earlier years, Retained Earnings came in at $98.58 million in FY2024 (+32.4%), $74.45 million in FY2023 (+115.9%), $34.48 million in FY2022 and -$93.13 million in FY2021.
- The Q2 2026 figure is the highest quarterly Retained Earnings in data going back to Q1 2021.
- On a year-over-year basis, Retained Earnings has increased for 11 consecutive quarters, with growth averaging 33.7% over the last eight quarters.
- Across the past five years, year-over-year growth in Retained Earnings ran from 23.2% in Q2 2025 to 115.9% in Q4 2023.
- Per Business Quant, the preceding three quarters came in at $131.86 million (Q1 2026), $132.15 million (Q4 2025) and $124.03 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Retained Earnings (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 252.99 Bn | 214.06 Bn | 2.36 Bn | 11.30 Bn |
| 2 | Bloom Energy | 81.25 Bn | 73.07 Bn | 355.57 Mn | -3.72 Bn |
| 3 | First Solar | 18.82 Bn | 9.78 Bn | 605.00 Mn | 7.56 Bn |
| 4 | BWX Technologies | 12.55 Bn | 10.85 Bn | 202.31 Mn | 2.65 Bn |
| 5 | Generac Holdings | 12.21 Bn | 11.04 Bn | 521.81 Mn | 3.22 Bn |
| 6 | Nextpower | 11.82 Bn | 7.71 Bn | 335.85 Mn | -1.81 Bn |
| 7 | EnerSys | 6.67 Bn | 4.86 Bn | 313.36 Mn | 2.85 Bn |
| 8 | Enphase Energy | 4.36 Bn | -500.13 Mn | 175.01 Mn | -175.22 Mn |
| 9 | Mirion Technologies | 3.45 Bn | 1.34 Bn | 133.10 Mn | -508.40 Mn |
| 10 | Shoals Technologies | 1.36 Bn | 1.33 Bn | 49.53 Mn | 143.99 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 143.99 Mn |
| 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 |
API Access
Shoals Technologies Retained Earnings 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=retained-earnings&ticker=SHLS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "retained-earnings", "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=retained-earnings&ticker=SHLS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();