Growth Metrics

Shoals Technologies (SHLS) Return on Capital Employed (2021 - 2026)

Shoals Technologies posted quarterly Return on Capital Employed of 7.88% for Q1 2026, up 170.0% year-on-year from 2.92% in Q1 2025, and up 4.84% on a QoQ basis from 7.51% in Q4 2025.

Shoals Technologies (SHLS) has 6 years of Return on Capital Employed data on file, last reported at 7.88% in Q1 2026.

  • For the quarter ending Q1 2026, Return on Capital Employed rose 170.0% year-over-year to 7.88%; the trailing twelve-month figure through Mar 2026 stood at 7.88% (up 170.0% YoY), and the FY2025 full-year result was 7.82%, up 88.0% from the prior year.
  • Return on Capital Employed for Q1 2026 stood at 7.88%, up from 7.51% in the prior quarter.
  • Across five years, Return on Capital Employed topped out at 13.72% in Q2 2023 and bottomed at 5.82% in Q2 2025.
  • The 5-year median for Return on Capital Employed is 8.55% (2024), against an average of 9.07%.
  • The widest annual swing landed in 2022, when Return on Capital Employed plunged 1143 bps; it then soared 554 bps in 2023.
  • A 5-year view of Return on Capital Employed shows it stood at 13.01% in 2022, then dropped by 19 bps to 10.55% in 2023, then sank by 32 bps to 7.14% in 2024, then rose by 5 bps to 7.51% in 2025, then rose by 5 bps to 7.88% in 2026.
  • The last three Return on Capital Employed figures came in at 7.88% (Q1 2026), 7.51% (Q4 2025), and 7.58% (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) ROCE (Qtr)
1 First Solar 26.65 Bn 24.22 Bn 486.13 Mn 15.46%
2 Nextpower 17.99 Bn 16.90 Bn 297.38 Mn 25.15%
3 Canadian Solar 15.11 Bn 15.69 Bn 124.40 Mn 2.48%
4 Enphase Energy 8.19 Bn 7.26 Bn 100.39 Mn 3.64%
5 Solaredge Technologies 3.80 Bn 3.25 Bn 68.28 Mn -23.29%
6 Sunrun 3.38 Bn 4.27 Bn 543.70 Mn -0.26%
7 Shoals Technologies 1.60 Bn 1.60 Bn 41.01 Mn 7.88%
8 Array Technologies 1.25 Bn 1.05 Bn 63.00 Mn -4.58%
9 JinkoSolar Holding 677.44 Mn 2.29 Bn 147.66 Mn -0.08%
10 Tigo Energy 288.14 Mn 276.56 Mn 10.79 Mn 2.40%

Historic Data

Download Data 🔒
DateValue
Mar 31, 2026 7.88%
Dec 31, 2025 7.51%
Sep 30, 2025 7.58%
Jun 30, 2025 5.82%
Mar 31, 2025 6.18%
Dec 31, 2024 7.14%
Sep 30, 2024 9.47%
Jun 30, 2024 7.06%
Mar 31, 2024 8.55%
Dec 31, 2023 10.55%
Sep 30, 2023 9.47%
Jun 30, 2023 13.72%
Mar 31, 2023 12.94%
Dec 31, 2022 13.01%
Sep 30, 2022 10.30%
Jun 30, 2022 8.19%
Mar 31, 2022 8.83%
Dec 31, 2021 9.71%
Sep 30, 2021 13.92%
Jun 30, 2021 19.62%
Mar 31, 2021 18.91%