LSI Industries vs Shoals Technologies Group
LSI Industries is the larger business, with $689m of revenue in fiscal 2026 against $475m for Shoals Technologies Group (1.5 times as much). LSI Industries grew faster (20.2% against 19.1%). Shoals Technologies Group kept more of each dollar of sales as profit: a net margin of 7.1% against 3.3%. Shoals Technologies Group carries less debt relative to equity (22.8% against 71.0%).
| Latest fiscal year | LSI IndustriesLYTS, 2026 | Shoals Technologies GroupSHLS, 2025 |
|---|---|---|
| Revenue | $689m | $475m |
| Revenue growth | 20.2% | 19.1% |
| Net income | $22.6m | $33.6m |
| Operating margin | 5.6% | 11.9% |
| Net margin | 3.3% | 7.1% |
| Return on equity | 7.6% | 5.8% |
| Free cash flow | $39.0m | −$16.0m |
| Cash | $14.2m | $7.3m |
| Total debt | $256m | $137m |
| Debt to equity | 71.0% | 22.8% |
| Dividend per share | $0.20 | — |
| Dividend yield | 0.8% | — |
| Share buybacks | — | $0 |
| Employees | 3,000 | 1,480 |
| Market value | $782m | $1.41bn |
| Price vs our value range | Below our value range | Above our value range |
| Moat score | 35 (Weak) | 44 (Weak) |
| Insider trades, 12 months | 2 buys, 17 sales | 0 buys, 4 sales |