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| Date | Value |
|---|---|
| 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% |