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Shoals Technologies Group, Inc. cash flow statement

In fiscal 2025, Shoals Technologies Group, Inc.'s operations generated $17.1m of cash; it spent $33.0m on capital projects, leaving free cash flow of −$16.0m.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations3654−439928017−19
Depreciation and amortisation99101111131412
Stock-based pay08111621141012
Capital spending23431183332
Free cash flow3451−8368172−16−52
Free cash flow after stock pay3443−19206158−26−64
Share buybacks———00250—
Shares issued002814300——

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Shoals Technologies Group, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Shoals Technologies Group, Inc.