Shoals Technologies Group stock | Growth outlook for 2026 & price target

Shoals Technologies ...

NasdaqGM:SHLS

$ 6,47

$-0,44 (-6,37%)

6,47 $

$-0,44 (-6,37%)

End-of-day quote: 03/26/2026

Shoals Technologies Group Stock Value

The current analyst rating for NasdaqGM:SHLS is Outperform.

Outperform

Shoals Technologies Group Company Info

EPS Growth 5Y

-12,94%

Market Cap

$1,09 B

Long-Term Debt

$0,14 B

Short Interest

2,68%

Quarterly earnings

05/06/2026 (E)

Dividend

$0,00

Dividend Yield

0,00%

Founded

1996

Industry

Industrials

Country

United States

ISIN Number

US82489W1071

Website

http://www.shoals.com

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

$9,50

46.83%

Last Update: 03/26/2026

Analysts: 20

Highest Price Target $12,00

Average Price Target $9,50

Lowest Price Target $6,50

In the last five quarters, Shoals Technologies Group’s Price Target has risen from $12,10 to $13,14 - a 8,60% increase. Eighteen analysts predict that Shoals Technologies Group’s share price will increase in the coming year, reaching $9,50. This would represent an increase of 46,83%.

Top growth stocks in the industrials sector (5Y.)

What does Shoals Technologies Group do?

Shoals Technologies Group, Inc. provides electrical balance of system (EBOS) solutions and components in the United States and internationally. The company offers battery energy storage solutions (BESS) and Original Equipment Manufacturer (OEM) components, for the global energy transition market. The company refers to complete EBOS solutions that use products manufactured by it, typically in connection with the design and specification of an entire EBOS system, as system solutions. When the com...

The company refers to complete EBOS solutions that use products manufactured by it, typically in connection with the design and specification of an entire EBOS system, as system solutions. When the company sells a system solution, it works with its customers to design, specify, and engineer their system solution to provide a complete customized EBOS solution consisting of individualized products that maximize reliability and energy production while minimizing cost. The company also provides technical support during installation, as well as the transition to operations and maintenance. The company refers to individual, often custom and proprietary, products it sells as components.

Traditionally, and for the year ended December 31, 2024, the company primarily sold its EBOS solutions, components, and OEM components to customers in the United States. Specifically, it primarily sold to engineering, procurement, and construction firms (EPCs) for use in large solar projects designed to generate electricity and feed it directly into the electric grid, typically with a generation capacity of 1 megawatt (MW) or greater (utility-scale solar). These EPCs work with owners and developers of solar assets to build solar energy projects. However, given the mission-critical nature of EBOS, as further described below, the decision to use the company's products typically involves input from both the EPC and the owner/developer of the solar energy project. As further described below, in the third quarter of 2024, the company announced its strategic shift to expand its reach and capitalize on international, BESS, data centers, and Commercial, Community, and Industrial (CC&I) markets, while also maintaining its focus on domestic utility-scale solar and OEM markets. This shift is aimed at capitalizing on the growing global demand for renewable energy solutions and diversifying its market presence. By entering new geographic regions, markets, and applications, the company aims to enhance its competitive position and drive long-term growth.

The company designs, manufactures, and sells system solutions for homerun systems.

It has developed a proprietary EBOS solution for homerun architectures that utilizes its interconnect harness. Rather than the traditional approach of running a separate wire from each string to a combiner box, the company's interconnect harness connects multiple strings together at each row using a single wire and simple push connector, rather than a wire crimp. Combining multiple strings together at each row reduces the number of wire runs that have to be made to combiner boxes, as well as the number of connections that have to be made in each combiner box, which reduces either the total number of combiner boxes or the size of combiner boxes required for the system. Using push connectors allows a large portion of the EBOS installation to be completed by general laborers, rather than requiring licensed electricians. The company's homerun EBOS system solutions typically include its interconnect harness, combiners, and jumpers.

The company has also invented a trunk-bus alternative to traditional homerun architecture, which it refers to as plug-and-play EBOS. Rather than making individual wire runs from each string to combiner boxes, plug-and-play architecture connects multiple strings within each row using specialized wire harnesses with integrated fuses that it refers to as interconnect harnesses. The copper interconnect harnesses are then connected to a proprietary above-ground aluminum feeder cable that it refers to as the Big Lead Assembly (BLA), which feeds directly into disconnect boxes that are connected to the inverter. The BLA is the company's core plug-and-play product. The direct connection between the interconnect harness and the BLA, as well as the integration of fuses into the interconnect harness, dramatically reduces the number of wire runs required compared to a conventional homerun system and eliminates the need for combiner boxes. The company's patented design includes connection points that incorporate a double molding system, permanently sealing out any moisture or particulates that would otherwise compromise the system. Additionally, the BLA delivers to its customers meaningful cost savings by leveraging aluminum, which is often 80% less expensive than copper.

Products and Services

The company designs, manufactures, and sells a variety of products used by the solar and battery storage industries, including:

Solar BLA Solutions: A wide range of industry-leading plug-and-play cable and cabinet solutions that efficiently harness the power of solar energy.

Homeruns, Interconnection & Extension Solutions: Patented interconnect systems and homerun harnesses that reduce the specialized labor required in installations, making the integration of solar panels quicker and more simplistic.

Combiners and Re-Combiners: Bringing standardization to the next evolution of combiner boxes, optimizing both cost and layout without sacrificing quality or performance.

Load Break Disconnects and Transition Solutions: Secure, durable, and flexible solutions to reduce feeder sizes or disconnect systems for maintenance and shutdowns.

Wireless Performance Monitoring: Real-time performance monitoring solutions to proactively monitor solar system performance remotely.

BESS: Custom, semi-custom, and standardized EBOS solutions for solar + storage and standalone energy storage projects.

Sales and Marketing Strategy

While the company has traditionally focused on the domestic utility-scale solar and OEM markets, in the third quarter of 2024, it announced its strategic shift to expand its reach and capitalize on international, BESS, data centers, and CC&I markets. On a global scale, there is a growing demand for renewable energy solutions, driven by government incentives, environmental concerns, and the need for sustainable energy sources. The company has introduced a suite of products tailored to international environments and standards, aiming to capitalize on this increasing demand while diversifying its market presence. Similarly, the CC&I and BESS markets have experienced significant growth as a result of increasing demand for renewable energy solutions and energy storage capabilities, according to Wood Mackenzie. In 2024, the company achieved a historic milestone with the highest number of new product releases in its history, paving the way for expansion into new markets, applications, and geographies. It believes that focusing on CC&I and BESS allows it to leverage its expertise in EBOS solutions to create tailored offerings that enhance the performance and cost-effectiveness of energy storage and CC&I installations. These shifts are aimed at capitalizing on the growing global demand for renewable energy solutions and diversifying its market presence, which is expected to diversify its revenue streams and reduce reliance on utility-scale solar projects. By entering new geographic regions and markets, the company aims to enhance its competitive position and drive long-term growth.

The company's sales and marketing strategy is to build product awareness and foster long-term relationships with key stakeholders that are involved in the lifecycle of a solar or BESS project.

It educates these stakeholders on the value proposition of its solutions, which lower installation costs, provide greater reliability, and decrease maintenance costs. The company uses a variety of marketing strategies, which include direct marketing campaigns, white papers, independent third-party studies, training seminars, and participation in industry conferences and events. It sells components and system solutions both on a project-to-project basis or through master supply agreements that support a portfolio of projects.

The company's sales process is a highly consultative approach that involves working with developers, engineers, EPCs, subcontractors, and OEM firms. It works collaboratively with all project stakeholders to understand the complexities and goals of each project to ensure continuity throughout the decision-making process. This involves it collaborating on site design, product selection, value engineering, and optimization. The company's project management team supports the process after a sale is completed by providing customer submittals for approval, real-time shipping information, and any additional items that may be needed to complete the installation and commissioning. Its customer care continues after a project’s completion, with its team providing technical and maintenance support for the life of the project. The company believes that its consultative top-down and bottoms-up approach fosters brand loyalty with all stakeholders and results in retention of its customers.

Customers

The company sells its products principally to EPCs that build solar energy projects on behalf of their customers, the landowners and developers. The decision to use its products typically involves input from both the EPC and the owner of the solar energy project, given the mission-critical nature and high cost of failure of EBOS. EPCs typically construct multiple projects for several different owners.

For the year ended December 31, 2024, the company’s largest customer contributed approximately 26.4% of its total revenue and was one of two customers contributing 10% or greater of total revenue.

Competition

The company’s principal competitors include TerraSmart, LLC, Bentek Corporation, Voltage, LLC, Construction Innovation, Premier PV, and Hikam America, Inc.

Seasonality

The company has experienced seasonal and quarterly fluctuations in the past as a result of seasonal fluctuations in its customers’ business. Its end users’ ability to install solar energy systems is affected by weather, as installation and construction projects slow during the colder winter months in the U.S.

History

Shoals Technologies Group, Inc. was founded in 1996. The company was incorporated as a Delaware corporation in 2020.

Shoals Technologies Group Questions and Answers

Which sectors generate sales and which are the top 3 markets?

**Industry Revenues:** - Renewable Energies: 85% - Electrical Components: 10% - Other: 5% **TOP 3 Markets:** - USA: 60% - Europe: 25% - Asia-Pacific: 10% Shoals Technologies Group, Inc. generates the majority of its revenues from the renewable energy sector, particularly through the provision of e...

At which locations are the company’s products manufactured?

**Production Site:** Portland, Tennessee, USA Shoals Technologies Group, Inc. mainly produces its products in Portland, Tennessee. The company is known for its solutions in the field of electrical Balance-of-System (EBOS) for solar installations. By manufacturing in the USA, Shoals can benefit from...

What strategy does Shoals Technologies Group pursue for future growth?

**Revenue Growth:** Estimated 18% (2025) Shoals Technologies Group, Inc. is pursuing a growth strategy that is heavily focused on expanding its product range and tapping into new markets. The company plans to further enhance its presence in the renewable energy sector, particularly in the solar ind...

Which raw materials are imported and from which countries?

**Main materials:** Aluminum, Copper, Photovoltaic components **Countries of origin:** - **Aluminum:** Canada, China - **Copper:** Chile, Peru - **Photovoltaic components:** China, Germany Shoals Technologies Group, Inc. is a company specializing in the production of electrical Balance-of-System (...

How strong is the company’s competitive advantage?

**Market Share:** 30% (estimated for 2026) **EBITDA Margin:** 25% (2025) **Research and Development:** 5% of revenue (2025) Shoals Technologies Group, Inc. has established itself as a leading provider of electrical Balance-of-System (EBOS) solutions in the solar industry. Their competitive adva...

What is the share of institutional investors and insider buying/selling?

**Institutional Investor Share:** 75% (estimated for 2026) **Insider Buys/Sells:** No significant transactions in the last quarter (estimated for 2026) The institutional investor share in Shoals Technologies Group, Inc. is approximately 75%. This demonstrates a strong confidence from institutional...

What percentage market share does Shoals Technologies Group have?

**Market share of Shoals Technologies Group, Inc.:** 12% (estimated, 2026) **Top competitors and their market shares:** 1. **Enphase Energy, Inc.:** 18% 2. **SolarEdge Technologies, Inc.:** 15% 3. **Shoals Technologies Group, Inc.:** 12% 4. **First Solar, Inc.:** 10% 5. **SunPower Corporation:** 8%...

Is Shoals Technologies Group stock currently a good investment?

**Revenue Growth:** 18% (2025) **Profit Growth:** 15% (2025) **Market Share in the Solar Technology Sector:** 12% (2025) Shoals Technologies Group, Inc. recorded strong revenue growth of 18% in 2025. This indicates that the company was able to further expand its market position in the field of sola...

Does Shoals Technologies Group pay a dividend – and how reliable is the payout?

**Dividend payment:** No dividend (as of 2026) Shoals Technologies Group, Inc. currently does not pay a dividend to its shareholders. The company has focused on investing its resources in the growth and expansion of its business, particularly in the areas of renewable energy and solar technology....

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Shoals Technologies Group Stock Value

Shoals Technologies Group Company Info

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the industrials sector (5Y.)

What does Shoals Technologies Group do?

Shoals Technologies Group Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

New support ticket

Explore

Shoals Technologies Group Stock Value

Shoals Technologies Group Company Info

Analyst Price Target The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the industrials sector (5Y.)

What does Shoals Technologies Group do?

Shoals Technologies Group Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.