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Shoals Technologies Group is a provider of electrical balance of system solutions for solar energy projects, primarily in the United States. EBOS encompasses components that are necessary to carry electric current produced by solar panels to an inverter. The products are sold principally to engineering, procurement, and construction firms that build solar energy projects.
2020
1.3K+
LTM Revenue $407M
LTM EBITDA $100M
$675M
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Shoals has a last 12-month revenue of $407M and a last 12-month EBITDA of $100M.
In the most recent fiscal year, Shoals achieved revenue of $399M and an EBITDA of $64.3M.
Shoals expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Shoals valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $489M | $399M | XXX | XXX | XXX |
| Gross Profit | $131M | $168M | XXX | XXX | XXX |
| Gross Margin | 27% | 42% | XXX | XXX | XXX |
| EBITDA | $89.6M | $64.3M | XXX | XXX | XXX |
| EBITDA Margin | 18% | 16% | XXX | XXX | XXX |
| Net Profit | $128M | $40.0M | XXX | XXX | XXX |
| Net Margin | 26% | 10% | XXX | XXX | XXX |
| Net Debt | $230M | $159M | XXX | XXX | XXX |
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As of April 15, 2025, Shoals's stock price is $3.
Shoals has current market cap of $557M, and EV of $675M.
See Shoals trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $675M | $557M | XXX | XXX | XXX | XXX | $0.36 |
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Sign UpAs of April 15, 2025, Shoals has market cap of $557M and EV of $675M.
Shoals's trades at 1.7x LTM EV/Revenue multiple, and 6.7x LTM EBITDA.
Analysts estimate Shoals's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Shoals and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $675M | XXX | XXX | XXX |
| EV/Revenue | 1.7x | XXX | XXX | XXX |
| EV/EBITDA | 10.5x | XXX | XXX | XXX |
| P/E | 23.1x | XXX | XXX | XXX |
| P/E/Growth | 0.4x | XXX | XXX | XXX |
| EV/FCF | 9.4x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpShoals's NTM/LTM revenue growth is 9%
Shoals's revenue per employee for the last fiscal year averaged $0.3M, while opex per employee averaged $0.1M for the same period.
Over next 12 months, Shoals's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Shoals's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Shoals and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | -18% | XXX | XXX | XXX | XXX |
| EBITDA Margin | 16% | XXX | XXX | XXX | XXX |
| EBITDA Growth | -28% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 25% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.3M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.1M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 21% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| Opex to Revenue | 23% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| SBM Offshore | XXX | XXX | XXX | XXX | XXX | XXX |
| Friedrich Vorwerk Group | XXX | XXX | XXX | XXX | XXX | XXX |
| GE Vernova T&D India | XXX | XXX | XXX | XXX | XXX | XXX |
| Suzlon Energy | XXX | XXX | XXX | XXX | XXX | XXX |
| Inox Wind | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Shoals acquired XXX companies to date.
Last acquisition by Shoals was XXXXXXXX, XXXXX XXXXX XXXXXX . Shoals acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was Shoals founded? | Shoals was founded in 2020. |
| Where is Shoals headquartered? | Shoals is headquartered in United States of America. |
| How many employees does Shoals have? | As of today, Shoals has 1.3K+ employees. |
| Who is the CEO of Shoals? | Shoals's CEO is Mr. Brandon Moss. |
| Is Shoals publicy listed? | Yes, Shoals is a public company listed on NAS. |
| What is the stock symbol of Shoals? | Shoals trades under SHLS ticker. |
| When did Shoals go public? | Shoals went public in 2021. |
| Who are competitors of Shoals? | Similar companies to Shoals include e.g. SBM Offshore, Friedrich Vorwerk Group, GE Vernova T&D India, Suzlon Energy. |
| What is the current market cap of Shoals? | Shoals's current market cap is $557M |
| What is the current revenue of Shoals? | Shoals's last 12-month revenue is $407M. |
| What is the current EBITDA of Shoals? | Shoals's last 12-month EBITDA is $100M. |
| What is the current EV/Revenue multiple of Shoals? | Current revenue multiple of Shoals is 1.7x. |
| What is the current EV/EBITDA multiple of Shoals? | Current EBITDA multiple of Shoals is 6.7x. |
| What is the current revenue growth of Shoals? | Shoals revenue growth between 2023 and 2024 was -18%. |
| Is Shoals profitable? | Yes, Shoals is EBITDA-positive (as of the last 12 months). |
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