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Shoals Technologies Group Balance Sheet 2025-2011 | SHLS
Brief overview of Shoals Technologies Group's balance sheet strength
The balance sheet is assessed across five available annual reports spanning 2021 to 2025.
Assets rose from $426.4 million to $904.1 million, a gain of +112%, while CAGR was about 20.7%. The balance sheet expanded rapidly.
Assets outpaced liabilities, +112% versus -29.9%. Dependence on external funding declined.
The equity-to-assets ratio is 66.4%, compared with -1.8% five periods ago. The balance sheet has a substantial internal cushion.
Net debt is $34.6 million, or 0.06x of equity. This is a conservative debt position.
Cash accounts for 0.8% of assets versus 1.2% initially. The change indicates the degree of financial flexibility.
Retained earnings stand at $132.2 million; the five-period change was +241.9%. This reflects accumulated business performance.
Conclusion
Shoals Technologies Group's balance sheet looks resilient: assets are supported by substantial equity, while debt does not overwhelm financial flexibility.
Annual Balance Sheet Shoals Technologies Group
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
34.6 M | 119 M | 158 M | 229 M | 242 M | 345 M | 19 M | 39.4 M | - | - | - | - | - | - | - |
Long Term Debt |
38.7 M | 142 M | 179 M | 237 M | 245 M | 355 M | 13.2 M | 36 M | - | - | - | - | - | - | - |
Long Term Debt Current |
3.22 M | 881 K | 1.14 M | 1.16 M | 2 M | - | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | 13.2 M | 36 M | - | - | - | - | - | - | - |
Total Current Liabilities |
127 M | 80.9 M | 92.6 M | 52.6 M | 31.6 M | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
304 M | 236 M | 299 M | 294 M | 434 M | 379 M | 37.7 M | 47.3 M | - | - | - | - | - | - | - |
Deferred Revenue |
37 M | 18.7 M | 22.2 M | 23.3 M | 1.84 M | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
132 M | 98.6 M | 74.5 M | 34.5 M | -93.1 M | - | - | - | - | - | - | - | - | - | - |
Total Assets |
904 M | 793 M | 844 M | 595 M | 426 M | 195 M | 188 M | 186 M | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
7.32 M | 23.5 M | 22.7 M | 8.77 M | 5.01 M | 10.1 M | - | - | - | - | - | - | - | - | - |
Book Value |
600 M | 557 M | 545 M | 301 M | -7.5 M | -184 M | 150 M | 138 M | - | - | - | - | - | - | - |
Total Shareholders Equity |
600 M | 557 M | 545 M | 291 M | -7.5 M | -184 M | - | - | - | - | - | - | - | - | - |
All numbers in USD currency
Quarterly Balance Sheet Shoals Technologies Group
| 2026-Q2 | 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
37.1 M | 37.8 M | 127 M | 132 M | 142 M | 142 M | 147 M | 169 M | 188 M | 209 M | 234 M | 237 M | 275 M | 275 M | 280 M | 245 M | 250 M | 238 M | 228 M | 355 M | 355 M | 355 M | 355 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
400 M | 429 M | 262 M | 220 M | 229 M | 256 M | 244 M | 271 M | 316 M | 289 M | 303 M | 294 M | 507 M | 488 M | 476 M | 434 M | 394 M | 308 M | 295 M | 379 M | 379 M | 379 M | 379 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Deferred Revenue |
55.2 M | 30.3 M | 26.1 M | 20.1 M | 15.2 M | 20.6 M | 21.2 M | 21.8 M | 27 M | 31.3 M | 23.4 M | 23.3 M | 28.7 M | 13.9 M | - | 1.84 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
144 M | 132 M | 124 M | 112 M | 98.3 M | 90.8 M | 91 M | 79.2 M | 57.9 M | 67.7 M | 48.8 M | 34.5 M | -78.1 M | -86.1 M | -90.5 M | -93.1 M | -91.3 M | -93.8 M | -98.3 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Assets |
1.02 B | 1.03 B | 852 M | 795 M | 788 M | 801 M | 788 M | 825 M | 840 M | 819 M | 809 M | 595 M | 530 M | 497 M | 474 M | 426 M | 383 M | 274 M | 252 M | 195 M | 195 M | 195 M | 195 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
15.7 M | 1.88 M | 8.59 M | 4.69 M | 35.6 M | 11.1 M | 3.19 M | 15.2 M | 9.22 M | 5.86 M | 6.46 M | 8.77 M | 11.2 M | 10.1 M | 2.53 M | 5.01 M | 14.2 M | 13.2 M | 4.23 M | 10.1 M | 10.1 M | 10.1 M | 10.1 M | 7.08 M | - | - | - | 108 K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Book Value |
617 M | 602 M | 590 M | 575 M | 559 M | 545 M | 545 M | 554 M | 525 M | 529 M | 506 M | 301 M | 22.7 M | 8.44 M | -1.45 M | -7.5 M | -11.1 M | -34.7 M | -42.9 M | -184 M | -184 M | -184 M | -184 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Shareholders Equity |
617 M | 602 M | 590 M | 575 M | 559 M | 545 M | 545 M | 554 M | 525 M | 529 M | 506 M | 291 M | 22.7 M | 8.44 M | -1.45 M | 2.55 M | -11.1 M | -34.7 M | -20.3 M | -184 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in USD currency
Balance Sheet is a fundamental financial report of Shoals Technologies Group, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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