Shoals Technologies (SHLS) Return on Capital Employed (2021 - 2026)
Shoals Technologies' (SHLS) quarterly Return on Capital Employed came in at 7.88% in Q1 2026, up 170.0% YoY from 2.92% in Q1 2025, and up 4.84% on a QoQ basis from 7.51% in Q4 2025.
Shoals Technologies (SHLS) Return on Capital Employed (2021 - 2026) Analysis & Trends
Shoals Technologies (SHLS) has 6 years of Return on Capital Employed data on file, last reported at 7.88% in Q1 2026.
- Quarterly Return on Capital Employed rose 170.0% year-over-year to 7.88% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 7.88% (up 170.0% YoY) and the FY2025 annual result came in at 7.82%, up 88.0% from the prior year.
- Return on Capital Employed rose to 7.88% in Q1 2026, from 7.51% in the prior quarter.
- In the past five years, Return on Capital Employed ranged from a high of 13.72% in Q2 2023 to a low of 5.82% in Q2 2025.
- A 5-year average of 9.07% and a median of 8.55% in 2024 frame the typical range for Return on Capital Employed.
- Annual changes were most pronounced in 2022 — Return on Capital Employed slumped 1143 bps — and 2023, when it soared 554 bps.
- Tracing SHLS's Return on Capital Employed over 5 years: stood at 13.01% in 2022, then slipped by 19 bps to 10.55% in 2023, then slumped by 32 bps to 7.14% in 2024, then increased by 5 bps to 7.51% in 2025, then increased 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.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 23.41 Bn | 21.68 Bn | 605.00 Mn | 16.07% |
| 2 | Nextpower | 13.31 Bn | 12.10 Bn | 335.85 Mn | 23.08% |
| 3 | Enphase Energy | 5.19 Bn | 4.25 Bn | 175.01 Mn | 4.90% |
| 4 | Sunrun | 2.23 Bn | 2.23 Bn | 527.54 Mn | 0.43% |
| 5 | Solaredge Technologies | 1.92 Bn | 1.34 Bn | 95.15 Mn | -16.28% |
| 6 | Shoals Technologies | 1.23 Bn | 1.21 Bn | 49.53 Mn | 7.27% |
| 7 | Canadian Solar | 999.75 Mn | -588.54 Mn | 124.40 Mn | 2.48% |
| 8 | JinkoSolar Holding | 848.40 Mn | -2.46 Bn | 147.66 Mn | -10.77% |
| 9 | Array Technologies | 733.17 Mn | 425.87 Mn | 99.60 Mn | -5.53% |
| 10 | Toyo | 179.14 Mn | 102.50 Mn | 47.76 Mn | 29.50% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 7.27% |
| 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% |