SHLS
Hot AirShoals Technologies Group, Inc. · Technology · United States · $1.3B cap · $50.7M/day traded
$8.07 -8.3% · close 12 Nov · scored 13 Nov
Score down 3.1 since 12 Nov: Momentum down 4 after a 8% price fall.
Hot Air: Strong momentum and nothing else: weak business, rich price.
After its 3 Nov results, analysts raised next year's EPS estimate 3.4%.
As of 13 Nov 2026, the MoatMap Score for Shoals Technologies Group, Inc. (SHLS) is 47/100, ranked against 25,000+ stocks in 38 markets (Quality 46, Value 36, Momentum 59, each scored against its sector).
Does the score work? Each tenth of the ranking, tracked monthly. See the record →
ABOUT SHOALS TECHNOLOGIES GROUP, INC.
Read
Shoals Technologies Group, Inc. is a leading provider of electrical balance of systems (EBOS) proprietary solutions for solar energy, battery storage, and electric vehicle charging infrastructure. The company's competitive moat is centered on its patented "combine-as-you-go" cabling systems, which allow for plug-and-play installation in the field, drastically reducing labor costs, installation time, and safety risks compared to traditional methods. As a dominant player in the utility-scale solar market, Shoals benefits from high intellectual property protection and strong secular tailwinds driving renewable energy adoption.
FINANCIAL SUMMARY (USD)
| Year | 2022 | 2023 | 2024 | 2025 | CAGR | TTM | 2026E | 2027E | Fwd CAGR |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 326.9M | 488.9M | 399.2M | 475.3M | 13.3% | 647.6M | 660.8M | 714.9M | 22.6% |
| EPS | 1.11 | 0.24 | 0.14 | 0.20 | -43.5% | 0.22 | 0.24 | 0.33 | 27.5% |
| Shares | 137.9M | 170.1M | 166.8M | 167.5M | +21.4% | 168.5M | — | — | — |
| Debt | 239.1M | 181.4M | 143.0M | 175.4M | -9.8% | 200.1M | — | — | — |
| Equity | 291.4M | 545.0M | 556.8M | 600.0M | 27.2% | — | — | — | — |
| Op CF | 39.5M | 92.0M | 80.4M | 17.1M | -24.4% | -9.9M | — | — | — |
| Inv CF | -3.7M | -10.8M | -8.4M | -28.0M | — | — | — | — | — |
| Fin CF | -36.6M | -67.2M | -71.2M | -5.3M | — | — | — | — | — |
No clear trend: not near its 52-week low, and not in a steady uptrend.
Swung more than 91% of stocks we rank over the past year (volatility 87% a year).
How this is worked out
The Price check reads only the chart, the price side of the Momentum score in words; it is not the MoatMap Score.
- Still falling: It set a new 52-week low in the last two weeks, after a deep fall.
- Finding a floor: It fell hard, but has set no new low for more than two weeks.
- Turning up: It has climbed off its low and is back above a rising 50-day average.
- In an uptrend: It is near its 52-week high and above its 200-day average.
- No clear trend (this stock): None of the above: no recent deep fall and no steady climb.
- No read yet: Not enough price history yet: it needs a year of trading.
In past US falls, waiting for Turning up cut the chance of another 20% drop from 42% to 33%. Returns were no better, and 33% of turns failed.
The exact rules
Still falling is a new 52-week low in the last two weeks, at least 25% below the high, with the low set after the high. Finding a floor is the same fall with no new low in the last two weeks. Turning up is 20 or more trading days without a new low, at least 10% off it, and back above a rising 50-day average. In an uptrend is above the 200-day average, with the 50-day average above the 200-day, and within 15% of the high. No clear trend is everything else. No read yet is under 252 trading days of history, or missing data. A new state shows once it has held for three trading days.
In 2,112 US drawdowns since 2001, buying while the price was still falling was followed by a further 20% drop 42% of the time. Waiting for a turn (the Turning up rule above) cut that to 33%, at about 7% higher prices and with no better returns. Part of that cut is simply not buying: 13% of falls never turned, and waiting kept those out. Among turns that were bought, 38% still fell another 20%, and 33% of turns were followed by a new low within six months. The benefit was largest in crashes such as 2008 and 2020.
What it measures: how much the price moved day to day over the past year, scaled to a yearly figure (annualised volatility) and ranked against every stock we cover. Very calm under 20% a year, Calm 20 to 30%, Average 30 to 40%, Bumpy 40 to 55%, Very bumpy above that.
What we found: across about 13,500 stocks in 34 markets (2002 to 2025), past swings were a good guide to the next year's, and bumpier stocks fell further. How much further changed too much between eras to put a number on it.
Calm is not safe: a calm stock can still slide steadily.
Rules fixed before any data was fetched. Describes the chart, not a recommendation.
SCORE BREAKDOWN
FUNDAMENTALS
SECTOR PEERS
Closest peers in Technology, ranked by industry match, size, and score similarity. Cross-listings of SHLS are excluded.
| Ticker | Company | Mkt Cap | Score |
|---|---|---|---|
| SHLS | Shoals Technologies Group, Inc.(you) | $1.3B | 47 |
| RUN | Sunrun Inc. | $1.8B | 20 |
| ARRY | Array Technologies, Inc. | $491M | 19 |
| NXT | Nextpower Inc. | $12.1B | 41 |
| ENPH | Enphase Energy, Inc. | $4.2B | 14 |
| TYGO | Tigo Energy, Inc. | $79M | 50 |
| FSLR | First Solar, Inc. | $18.5B | 63 |
| SPWR | SunPower Inc. | $72M | 9 |
| FTCI | FTC Solar, Inc. | $77M | 4 |
| APPS | Digital Turbine, Inc. | $1.2B | 45 |
Peer medians: ROE 6.0% · P/E 28.8x · Gross margin 52.2%
Company Deep Dive
A 10,000-word report: the business and its segments, what management promised on earnings calls and whether it delivered, the competition, and how things could turn out.