SHLS Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $8.30
P/E (TTM) 43.7
EPS (TTM) $0.19
Revenue (TTM) $588M
ROE (TTM) 5.3%
52W Range $5–$13

SHLS Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

04
range
bars

Bar granularity adapts to the selected period — hover the chart to see open/high/low/close for a bar.

10-Year Performance Revenue, net income, margins and EPS trends

06
Revenue$475M
2019-12-31 → 2025-12-31
EPS$0.20
2021-12-31 → 2025-12-31
Free Cash Flow$-16M
2021-12-31 → 2025-12-31
Net margin5.4%
2021-12-31 → 2025-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend SHLS 5Y avg Peer Median Verdict
P/E (TTM) 43.75Y avg ≈43.9 ≈43.9 26.6 Overvalued

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14
Avg Surprise -2.1%
Next Report Nov 02, 2026
PeriodReportEPS ActualEPS EstSurprise
June 30, 2026 Aug 3, 2026 $0.12 $0.10 19.0%
March 31, 2026 $0.07 $0.06 10.1%
Dec. 31, 2025 $0.10 $0.14 -28.8%
Sept. 30, 2025 $0.12 $0.13 -7.8%
June 30, 2025 $0.10 $0.08 18.9%
March 31, 2025 $0.03 $0.04 -23.9%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15
Income Statement 16
Metric Trend 202520242023202220212020
Revenue $475M$399M$489M$327M$213M$176M
Cost of Revenue $309M$257M$321M$196M$131M$109M
Gross Profit $167M$142M$168M$131M$83M$67M
SG&A Expense $102M$82M$81M$56M$38M$21M
Operating Expenses $110M$91M$89M$65M$46M$29M
Operating Income $56M$51M$79M$66M$36M$37M
Interest Expense ··$24M$19M$15M$4M
Interest Income $305.0K$518.0K$0$0··
Pretax Income $49M$38M$55M$152M$4M·
Income Tax $15M$14M$12M$9M$86.0K$0
Net Income $34M$24M$40M$128M$2M$34M
EPS (Basic) $0.20$0.14$0.24$1.11$0.00·
EPS (Diluted) $0.20$0.14$0.24$0.85$0.00·
Shares (Basic) 167,257,000168,570,000164,165,000114,495,00099,269,000·
Shares (Diluted) 168,378,000168,725,000164,504,000167,631,00099,269,000·
EBITDA $70M$64M$90M$77M$46M·
Balance Sheet 25
Metric Trend 202520242023202220212020
Cash & Equivalents $7M$24M$23M$9M$5M$10M
Receivables $129M$78M$107M$51M$31M$27M
Inventory $90M$56M$53M$73M$38M$15M
Other Current Assets $10M$10M$4M$5M$5M$155.0K
Current Assets $258M$188M$227M$154M$93M$56M
PP&E (Net) $53M$28M$25M$17M$16M$13M
PP&E (Gross) $71M$41M$34M$24M$21M$17M
Accum. Depreciation $17M$13M$10M$7M$6M$4M
Goodwill $70M$70M$70M$70M$69M$50M
Intangibles $33M$41M$49M$57M$65M$72M
Other Non-current Assets $5M$10M$5M$6M$6M$4M
Total Assets $904M$793M$844M$595M$426M$195M
Accounts Payable $65M$20M$14M$9M$20M$15M
Accrued Liabilities ····$10M$6M
Current Liabilities $127M$81M$93M$53M$32M$24M
Capital Leases $39M$1M$2M$3M··
Other Non-current Liabilities $991.0K$991.0K$3M$4M$931.0K$0
Total Liabilities $304M$236M$299M$294M$434M$379M
Long-term Debt ·$142M$181M$239M$247M$359M
Total Debt ·$142M$181M$239M$247M·
Paid-in Capital $493M$484M$471M$257M$96M·
Retained Earnings $132M$99M$74M$34M$-93M·
Treasury Stock $25M$25M$0···
Stockholders' Equity $600M$557M$545M$301M$-7M·
Liabilities + Equity $904M$793M$844M$595M$426M$195M
Cash Flow 16
Metric Trend 202520242023202220212020
D&A $14M$13M$11M$11M$10M$9M
Stock-based Comp $10M$14M$21M$16M$11M$8M
Deferred Tax $16M$14M$11M$8M$-1M$0
Amort. of Intangibles $8M$8M$8M$9M$8M$8M
Other Non-cash $-56M$15M$9M$-123M$-26M·
Operating Cash Flow $17M$80M$92M$39M$-4M$54M
CapEx $33M$8M$11M$3M$4M$3M
Investing Cash Flow $-28M$-8M$-11M$-4M$-17M$-3M
Stock Issued ·$0$0$43M$281M$0
Stock Repurchased $0$25M$0$0··
Net Stock Activity $0$-25M$0$43M$281M·
Financing Cash Flow $-5M$-71M$-67M$-37M$21M$-48M
Net Change in Cash $-16M$804.0K$14M$-791.0K$-516.0K$3M
Taxes Paid $-183.0K$109.0K$1M···
Free Cash Flow $-16M$72M$81M$36M$-8M·
Levered FCF ··$63M$19M$-22M·
Profitability 8
Metric Trend 202520242023202220212020
Gross Margin 35.0%35.6%34.4%40.2%38.8%·
Operating Margin 11.9%12.8%16.2%20.3%17.0%·
Net Margin 7.1%6.0%8.2%39.0%1.1%·
Pretax Margin 10.2%9.5%11.2%46.5%1.9%·
EBITDA Margin 14.8%16.0%18.3%23.5%21.7%·
ROA 4.0%2.9%5.6%25.0%0.76%·
ROE 5.7%4.4%7.5%89.9%183.9%·
ROIC 6.5%4.7%8.5%11.8%14.2%·
Liquidity & Solvency 5
Metric Trend 202520242023202220212020
Current Ratio 2.02.32.52.93.0·
Quick Ratio 1.11.31.41.11.2·
Debt / Equity ·0.30.30.896.8·
LT Debt / Equity ·0.30.30.896.0·
Interest Coverage ··3.33.62.5·
Efficiency 3
Metric Trend 202520242023202220212020
Asset Turnover 0.60.50.70.60.7·
Inventory Turnover 4.24.75.13.54.9·
Receivables Turnover 4.64.36.28.07.3·
Per Share 3
Metric Trend 202520242023202220212020
Revenue / Share $2.82$2.37$2.97$1.95$2.15·
Cash Flow / Share $0.10$0.48$0.56$0.24$-0.04·
EPS (TTM) $0.20$0.14$0.24$0.85$0.00·
Growth Rates 8
Metric Trend 202520242023202220212020
Revenue YoY 19.1%-18.4%49.5%53.3%21.5%·
Revenue CAGR 3Y 13.3%23.2%40.7%···
Revenue CAGR 5Y 22.1%·····
EPS YoY 42.9%-41.7%-71.8%···
EPS CAGR 3Y -38.3%·····
Net Income YoY 39.2%-39.6%-68.7%5334.9%-93.0%·
Net Income CAGR 3Y -35.9%117.4%5.8%···
Net Income CAGR 5Y -0.11%·····
Valuation (TTM) 4
Metric Trend 202520242023202220212020
Revenue TTM $475M$399M$489M$327M$213M$176M
Net Income TTM $34M$24M$40M$128M$2M$34M
P/E 42.539.564.829.0··
Earnings Yield 2.4%2.5%1.5%3.5%0.00%·

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16
Metric 2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $475M $399M $489M $327M $213M
Gross Margin % 35.0% 35.6% 34.4% 40.2% 38.8%
Operating Margin % 11.9% 12.8% 16.2% 20.3% 17.0%
Net Income $34M $24M $40M $128M $2M
Diluted EPS $0.20 $0.14 $0.24 $0.85 $0.00

Institutional owners (13F) 314 filers · $1.6B total · As of Sept. 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 314
Value held $1.6B
New positions 59
Exited positions 38
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
59 (-9 vs prior Q) 38 (-16 vs prior Q) 103 (+10 vs prior Q) 91 (+5 vs prior Q) +6.5M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
BlackRock, Inc. $284,406,885 28,727,968 17.28% Shares
VANGUARD GROUP INC $115,550,183 13,594,139 7.02% Shares
VANGUARD CAPITAL MANAGEMENT LLC $73,608,935 7,435,246 4.47% Shares
Invesco Ltd. $70,855,707 7,157,142 4.31% Shares
STATE STREET CORP $59,923,760 6,052,905 3.64% Shares
Amundi $53,232,763 5,374,593 3.24% Shares
GEODE CAPITAL MANAGEMENT, LLC $46,992,963 4,745,938 2.86% Shares
DIMENSIONAL FUND ADVISORS LP $45,437,610 4,590,497 2.76% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $44,551,663 4,500,168 2.71% Shares
BNP PARIBAS ASSET MANAGEMENT Holding S.A. $42,337,053 4,276,470 2.57% Shares
Greenvale Capital LLP $42,075,000 4,250,000 2.56% Shares
SCHRODER INVESTMENT MANAGEMENT GROUP $28,610,089 2,889,908 1.74% Shares
Pictet Asset Management Holding SA $28,113,386 2,839,736 1.71% Shares
UBS Group AG $27,051,107 2,732,435 1.64% Shares
NORTHERN TRUST CORP $23,017,480 2,324,998 1.40% Shares
ACK Asset Management LLC $22,324,500 2,255,000 1.36% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $21,938,400 2,216,000 1.33% Call option
AMERIPRISE FINANCIAL INC $19,075,617 1,926,830 1.16% Shares
Redwood Grove Capital, LLC $17,431,148 1,760,722 1.06% Shares
MORGAN STANLEY $17,321,329 1,749,628 1.05% Shares
ROYCE & ASSOCIATES LP $17,067,125 1,723,952 1.04% Shares
ARDSLEY ADVISORY PARTNERS LP $16,483,500 1,665,000 1.00% Shares
VOYA INVESTMENT MANAGEMENT LLC $16,115,458 1,627,824 0.98% Shares
Woodson Capital Management, LP $15,840,000 1,600,000 0.96% Shares
HEARTLAND ADVISORS INC $14,513,895 1,466,050 0.88% Shares
Arosa Capital Management LP $14,355,000 1,450,000 0.87% Call option
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $13,930,904 1,407,162 0.85% Shares
Swedbank AB $13,027,856 1,315,945 0.79% Shares
FIRST TRUST ADVISORS LP $12,868,950 1,299,894 0.78% Shares
Nishkama Capital, LLC $12,712,244 1,284,065 0.77% Shares
GOLDMAN SACHS GROUP INC $12,666,307 1,279,425 0.77% Shares
FRANKLIN RESOURCES INC $12,526,242 1,265,277 0.76% Shares
JANE STREET GROUP, LLC $12,030,480 1,215,200 0.73% Call option
Caption Management, LLC $11,884,950 1,200,500 0.72% Call option
VANGUARD FIDUCIARY TRUST CO $11,858,745 1,197,853 0.72% Shares
Caption Management, LLC $11,776,050 1,189,500 0.72% Put option
AQR CAPITAL MANAGEMENT LLC $11,739,223 1,185,780 0.71% Shares
SILVERCREST ASSET MANAGEMENT GROUP LLC $11,123,115 1,123,547 0.68% Shares
Centiva Capital, LP $10,952,152 1,106,278 0.67% Shares
Pier Capital, LLC $9,389,487 948,433 0.57% Shares
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP $9,372,766 946,744 0.57% Shares
WESTWOOD HOLDINGS GROUP INC $9,174,667 926,734 0.56% Shares
Raiffeisen Bank International AG $8,825,500 950,000 0.54% Shares
Erste Asset Management GmbH $8,691,808 935,609 0.53% Shares
RENAISSANCE TECHNOLOGIES LLC $8,306,100 839,000 0.50% Shares
Trexquant Investment LP $7,898,774 797,856 0.48% Shares
JUPITER ASSET MANAGEMENT LTD $7,860,283 793,968 0.48% Shares
STOREBRAND ASSET MANAGEMENT AS $7,070,125 714,154 0.43% Shares
CITADEL ADVISORS LLC $6,996,330 706,700 0.43% Call option
BANK OF AMERICA CORP /DE/ $6,540,832 660,690 0.40% Shares

Show all 314 institutional owners →

Activists & 5%+ owners 2 positions

18

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
Dean Solon, Solon Holdco I, LLC, Solon Holdco II, LLC, Solon Holdco III, LLC ×5 filings March 10, 2023 · Initial filing · SEC
Oaktree Power Opportunities Fund IV (Delaware) Holdings, L.P., Brookfield Asset Management Inc., BAM Partners Trust, Oaktree Power Opportunities Fund IV, L.P., Oaktree Fund GP, LLC, Oaktree Power Opportunities Fund IV (Parallel), L.P., Oaktree Capital Management LP, Oaktree Capital Group, LLC, Atlas OCM Holdings, LLC, Oaktree Capital Group Holdings, L.P. ×2 filings July 21, 2021 · Initial filing · SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

Company insiders 22 insiders · 12 officers · 10 directors

19
Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Brandon Moss Chief Executive Officer Aug. 13, 2026 F 1,041,482 0 0 $0
Dominic Bardos Chief Financial Officer June 1, 2026 F 364,775 0 2 $-494,379
Philip A Garton Chief Financial Officer March 23, 2022 S 27,842 0 0 $0
Jeffery Tolnar President June 1, 2026 F 273,800 0 1 $-19,232
Kirsten Moen Chief Operating Officer Sept. 9, 2026 F 95,651 0 0 $0
John Joseph White JR Chief Operating Officer Feb. 1, 2022 A 98,621 0 0 $0
Bobbie Lee King Jr Chief Legal Officer June 16, 2026 G 97,918 0 1 $-104,100
James Ryan Hart Chief People Officer June 1, 2026 F 102,173 0 0 $0
David Sean Van Bibber Chief Accounting Officer Feb. 17, 2026 A 10,515 0 0 $0
Inez Lund Chief Accounting Officer March 10, 2025 S 61,134 0 0 $0
Mehgan Peetz General Counsel July 8, 2024 A 138,096 0 0 $0
Alan D Neal Chief Technology Officer Feb. 1, 2022 A 8,026 0 0 $0
Toni Volpe Director April 30, 2026 A 122,452 0 0 $0
Niharika Ramdev Director April 30, 2026 A 96,011 0 0 $0
John Bradford Forth Director April 30, 2026 A 599,255 0 0 $0
Ty P. Daul Director April 30, 2026 A 127,952 0 0 $0
Robert K. Julian Director April 30, 2026 A 104,096 0 0 $0
Jeanette M. Mills Director April 30, 2026 A 104,096 0 0 $0
Lori S Sundberg Director April 30, 2026 A 122,452 0 0 $0
Peter M Wilver Director May 2, 2024 A 53,496 0 0 $0
Peter Joseph Jonna Director May 5, 2022 A 20,552 0 0 $0
Jason R Whitaker · March 15, 2023 A 500,068 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 48 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
TAN · Invesco Exchange-Traded Fund Trust … 3.00% 3,262,267 SH Oct. 2, 2026 Daily
PBW · Invesco Exchange-Traded Fund Trust 1.45% 600,674 SH Oct. 2, 2026 Daily
ICLN · iShares Trust 1.10% 3,310,667 SH Sept. 11, 2026 Daily
PBD · Invesco Exchange-Traded Fund Trust … 0.96% 136,021 SH Oct. 2, 2026 Daily
FYC · First Trust Exchange-Traded AlphaDE… 0.60% 886,418 NS July 31, 2026 N-PORT
CCNR · Financial Investors Trust 0.33% 160,915 NS July 31, 2026 N-PORT
FYX · First Trust Exchange-Traded AlphaDE… 0.28% 440,574 NS July 31, 2026 N-PORT
ERTH · Invesco Exchange-Traded Fund Trust 0.22% 32,779 SH Oct. 2, 2026 Daily
ESSC · Strategy Shares 0.17% 7,140 NS July 31, 2026 N-PORT
CCSO · Tidal Trust II 0.15% 7,949 NS July 31, 2026 N-PORT
FAD · First Trust Exchange-Traded AlphaDE… 0.12% 80,301 NS July 31, 2026 N-PORT
NUSC · Nushares ETF Trust 0.11% 162,875 NS July 31, 2026 N-PORT
VTWG · VANGUARD SCOTTSDALE FUNDS 0.09% 171,349 SH Aug. 19, 2026 Daily
IWO · iShares Trust 0.07% 1,489,394 SH Sept. 11, 2026 Daily
FSMD · FIDELITY COVINGTON TRUST 0.06% 176,756 NS July 31, 2026 N-PORT
VFMO · VANGUARD WELLINGTON FUND 0.05% 97,086 SH Aug. 19, 2026 Daily
VTWO · VANGUARD SCOTTSDALE FUNDS 0.05% 982,299 SH Aug. 19, 2026 Daily
PRFZ · Invesco Exchange-Traded Fund Trust 0.05% 159,374 SH Oct. 2, 2026 Daily
RSSL · Global X Funds 0.05% 81,494 NS July 31, 2026 N-PORT
ESML · iShares Trust 0.05% 184,137 SH Sept. 11, 2026 Daily
IWM · iShares Trust 0.04% 4,356,516 SH Sept. 11, 2026 Daily
ISCG · iShares Trust 0.04% 51,856 SH Sept. 11, 2026 Daily
DFAT · Dimensional ETF Trust 0.03% 499,383 NS July 31, 2026 N-PORT
DFSV · Dimensional ETF Trust 0.03% 242,390 NS July 31, 2026 N-PORT
DFAS · Dimensional ETF Trust 0.02% 401,110 NS July 31, 2026 N-PORT
FIDU · FIDELITY COVINGTON TRUST 0.02% 54,747 NS July 31, 2026 N-PORT
VXF · VANGUARD INDEX FUNDS 0.02% 1,924,993 SH Aug. 19, 2026 Daily
VBK · VANGUARD INDEX FUNDS 0.02% 1,103,481 SH Aug. 19, 2026 Daily
VIS · VANGUARD WORLD FUND 0.02% 204,051 SH Aug. 19, 2026 Daily
DXUV · Dimensional ETF Trust 0.02% 10,201 NS July 31, 2026 N-PORT
WSML · iShares Trust 0.01% 10,122 SH Sept. 11, 2026 Daily
VB · VANGUARD INDEX FUNDS 0.01% 1,918,526 SH Aug. 19, 2026 Daily
VTWV · VANGUARD SCOTTSDALE FUNDS 0.01% 9,601 SH Aug. 19, 2026 Daily
EBIT · Harbor ETF Trust 0.01% 135 NS July 31, 2026 N-PORT
DFSU · Dimensional ETF Trust 0.01% 21,905 NS July 31, 2026 N-PORT
DFAC · Dimensional ETF Trust 0.01% 411,926 NS July 31, 2026 N-PORT
DCOR · Dimensional ETF Trust 0.01% 28,428 NS July 31, 2026 N-PORT
TILT · FlexShares Trust 0.01% 14,378 NS July 31, 2026 N-PORT
DFUV · Dimensional ETF Trust 0.00% 86,797 NS July 31, 2026 N-PORT
DFAU · Dimensional ETF Trust 0.00% 43,722 NS July 31, 2026 N-PORT
DFUS · Dimensional ETF Trust 0.00% 50,773 NS July 31, 2026 N-PORT
ITOT · iShares Trust 0.00% 221,604 SH Sept. 11, 2026 Daily
IWV · iShares Trust 0.00% 44,208 SH Sept. 11, 2026 Daily
VTI · VANGUARD INDEX FUNDS 0.00% 5,340,459 SH Aug. 19, 2026 Daily
VTHR · VANGUARD SCOTTSDALE FUNDS 0.00% 13,775 SH Aug. 19, 2026 Daily
FTLS · First Trust Exchange-Traded Fund III -0.03% -75,543 NS July 31, 2026 N-PORT
IWN · iShares Trust · 96,562 SH Sept. 11, 2026 Daily
ISCB · iShares Trust · 7,349 SH Sept. 11, 2026 Daily

SHLS Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 25 analysts BUY
Median target $12.00 +44.6%
5 20.0% Strong Buy
13 52.0% Buy
7 28.0% Hold
0 0.0% Sell
0 0.0% Strong Sell

12-Month Price Target

19 analysts · 2026-09-30

Mean target $11.32 +36.3%

Now Current price $8.30
Low$6.50 Mean$11.32 High$15.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
SHLS · 42.5 19.1% 7.1% 5.7% 35.0%
RUN $4.30B 10.8 45.1% 15.2% 15.8% ·
FCEL $412M -1.2 41.0% -118.8% -28.5% ·
AMSC $1.61B 11.1 34.3% 44.7% 29.8% 30.6%
AMPX $1.06B -22.5 202.1% -60.3% -48.8% 11.3%
FLNC · -29.2 -16.2% -2.1% -10.7% 13.1%
EOSE $3.86B -1.7 631.8% -849.1% 58.0% -126.0%
TE · -3.1 25572.8% · · ·
LYTS $983M 39.7 22.1% · 7.4% ·
ARRY $1.41B -12.6 40.2% -4.1% 37.7% 23.2%

Latest News Recent headlines mentioning this company

23

My Metrics Your personal watchlist — selected rows from Full Fundamentals

26

Pick the metrics that matter to you — click the + next to any row in Full Fundamentals above.

Your selection is saved and follows you across all tickers.

Source: SEC 10-Q filed Aug 4, 2026