Shoals Net Income vs Total Operating Expenses Analysis

SHLS Stock

USD 4.66 0.02 0.43%

Shoals Technologies financial indicator trend analysis is much more than just breaking down Shoals Technologies prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Shoals Technologies is a good investment. Please check the relationship between Shoals Technologies Net Income and its Total Operating Expenses accounts. Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Shoals Technologies Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Net Income vs Total Operating Expenses

Net Income vs Total Operating Expenses Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Shoals Technologies Net Income account and Total Operating Expenses. At this time, the significance of the direction appears to have strong relationship.

The correlation between Shoals Technologies' Net Income and Total Operating Expenses is 0.64. Overlapping area represents the amount of variation of Net Income that can explain the historical movement of Total Operating Expenses in the same time period over historical financial statements of Shoals Technologies Group, assuming nothing else is changed. The correlation between historical values of Shoals Technologies' Net Income and Total Operating Expenses is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Net Income of Shoals Technologies Group are associated (or correlated) with its Total Operating Expenses. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Total Operating Expenses has no effect on the direction of Net Income i.e., Shoals Technologies' Net Income and Total Operating Expenses go up and down completely randomly.

Correlation Coefficient

0.64

Relationship Direction	Positive
Relationship Strength	Significant

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Net Income

Net income is one of the most important fundamental items in finance. It plays a large role in Shoals Technologies financial statement analysis. It represents the amount of money remaining after all of Shoals Technologies Group operating expenses, interest, taxes and preferred stock dividends have been deducted from a company total revenue.

Total Operating Expenses

The total costs associated with the day-to-day operations of a business, excluding the cost of goods sold but including selling, general, and administrative expenses.

Most indicators from Shoals Technologies' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Shoals Technologies current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Shoals Technologies Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

At this time, Shoals Technologies' Selling General Administrative is comparatively stable compared to the past year. Enterprise Value is likely to gain to about 4.7 B in 2024, whereas Tax Provision is likely to drop slightly above 4.2 M in 2024.

	2021	2022	2023	2024 (projected)
Interest Expense	14.5M	18.5M	24.1M	25.3M
Depreciation And Amortization	10.1M	10.5M	10.5M	10.8M

Interest Expense Depreciation And Amortization

Shoals Technologies fundamental ratios Correlations

	Total Assets	Short Long Term Debt Total	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Net Tangible Assets	Property Plant And Equipment Net	Net Debt	Accounts Payable	Cash	Non Current Assets Total	Long Term Debt	Cash And Short Term Investments	Net Receivables	Good Will	Common Stock Shares Outstanding	Non Current Liabilities Total	Inventory	Other Current Assets	Other Stockholder Equity	Total Liab	Net Invested Capital	Property Plant And Equipment Gross	Short Long Term Debt	Total Current Assets	Net Working Capital
Total Assets		0.55	0.82	0.86	0.68	0.56	0.97	0.51	0.59	0.78	1.0	0.48	0.78	0.83	0.98	-0.3	0.56	0.91	0.88	0.68	0.66	0.86	0.99	-0.35	0.89	1.0
Short Long Term Debt Total	0.55		0.48	0.56	-0.03	-0.23	0.57	1.0	0.82	0.63	0.53	0.89	0.63	0.46	0.59	-0.51	0.96	0.65	0.54	-0.06	0.96	0.74	0.61	-0.33	0.57	0.57
Other Current Liab	0.82	0.48		0.98	0.83	0.61	0.87	0.45	0.55	0.95	0.81	0.46	0.95	1.0	0.81	-0.43	0.47	0.66	0.63	0.8	0.56	0.93	0.83	-0.25	0.97	0.81
Total Current Liabilities	0.86	0.56	0.98		0.8	0.6	0.89	0.53	0.61	0.97	0.85	0.53	0.97	0.99	0.86	-0.45	0.54	0.76	0.7	0.77	0.63	0.96	0.88	-0.18	0.99	0.86
Total Stockholder Equity	0.68	-0.03	0.83	0.8		0.94	0.66	-0.07	0.08	0.67	0.68	0.03	0.67	0.85	0.63	-0.13	-0.04	0.52	0.5	0.99	0.07	0.65	0.63	-0.12	0.8	0.66
Net Tangible Assets	0.56	-0.23	0.61	0.6	0.94		0.48	-0.26	-0.15	0.44	0.57	-0.13	0.44	0.65	0.5	0.05	-0.23	0.49	0.44	0.94	-0.13	0.45	0.49	-0.05	0.63	0.56
Property Plant And Equipment Net	0.97	0.57	0.87	0.89	0.66	0.48		0.53	0.64	0.85	0.96	0.52	0.85	0.87	0.94	-0.3	0.57	0.8	0.78	0.65	0.67	0.88	0.98	-0.31	0.89	0.96
Net Debt	0.51	1.0	0.45	0.53	-0.07	-0.26	0.53		0.81	0.6	0.5	0.89	0.6	0.43	0.57	-0.52	0.96	0.63	0.52	-0.09	0.95	0.71	0.58	-0.34	0.54	0.54
Accounts Payable	0.59	0.82	0.55	0.61	0.08	-0.15	0.64	0.81		0.67	0.59	0.53	0.67	0.54	0.7	-0.78	0.91	0.56	0.67	0.12	0.92	0.66	0.67	-0.09	0.6	0.57
Cash	0.78	0.63	0.95	0.97	0.67	0.44	0.85	0.6	0.67		0.77	0.62	1.0	0.94	0.77	-0.43	0.58	0.65	0.57	0.63	0.66	0.95	0.81	-0.06	0.94	0.78
Non Current Assets Total	1.0	0.53	0.81	0.85	0.68	0.57	0.96	0.5	0.59	0.77		0.46	0.77	0.82	0.98	-0.31	0.56	0.91	0.89	0.69	0.66	0.85	0.99	-0.37	0.88	0.99
Long Term Debt	0.48	0.89	0.46	0.53	0.03	-0.13	0.52	0.89	0.53	0.62	0.46		0.62	0.44	0.44	-0.12	0.73	0.57	0.3	-0.06	0.75	0.72	0.52	-0.29	0.52	0.53
Cash And Short Term Investments	0.78	0.63	0.95	0.97	0.67	0.44	0.85	0.6	0.67	1.0	0.77	0.62		0.94	0.77	-0.43	0.58	0.65	0.57	0.63	0.66	0.95	0.81	-0.06	0.94	0.78
Net Receivables	0.83	0.46	1.0	0.99	0.85	0.65	0.87	0.43	0.54	0.94	0.82	0.44	0.94		0.82	-0.43	0.45	0.68	0.65	0.82	0.54	0.93	0.84	-0.23	0.98	0.82
Good Will	0.98	0.59	0.81	0.86	0.63	0.5	0.94	0.57	0.7	0.77	0.98	0.44	0.77	0.82		-0.48	0.66	0.91	0.95	0.65	0.74	0.85	0.99	-0.37	0.89	0.97
Common Stock Shares Outstanding	-0.3	-0.51	-0.43	-0.45	-0.13	0.05	-0.3	-0.52	-0.78	-0.43	-0.31	-0.12	-0.43	-0.43	-0.48		-0.69	-0.33	-0.57	-0.21	-0.66	-0.44	-0.37	0.19	-0.46	-0.26
Non Current Liabilities Total	0.56	0.96	0.47	0.54	-0.04	-0.23	0.57	0.96	0.91	0.58	0.56	0.73	0.58	0.45	0.66	-0.69		0.65	0.66	-0.03	0.99	0.69	0.64	-0.37	0.56	0.57
Inventory	0.91	0.65	0.66	0.76	0.52	0.49	0.8	0.63	0.56	0.65	0.91	0.57	0.65	0.68	0.91	-0.33	0.65		0.91	0.53	0.72	0.82	0.89	-0.38	0.81	0.92
Other Current Assets	0.88	0.54	0.63	0.7	0.5	0.44	0.78	0.52	0.67	0.57	0.89	0.3	0.57	0.65	0.95	-0.57	0.66	0.91		0.56	0.72	0.7	0.88	-0.39	0.76	0.87
Other Stockholder Equity	0.68	-0.06	0.8	0.77	0.99	0.94	0.65	-0.09	0.12	0.63	0.69	-0.06	0.63	0.82	0.65	-0.21	-0.03	0.53	0.56		0.08	0.61	0.64	-0.12	0.78	0.66
Total Liab	0.66	0.96	0.56	0.63	0.07	-0.13	0.67	0.95	0.92	0.66	0.66	0.75	0.66	0.54	0.74	-0.66	0.99	0.72	0.72	0.08		0.76	0.73	-0.36	0.65	0.67
Net Invested Capital	0.86	0.74	0.93	0.96	0.65	0.45	0.88	0.71	0.66	0.95	0.85	0.72	0.95	0.93	0.85	-0.44	0.69	0.82	0.7	0.61	0.76		0.88	-0.32	0.97	0.87
Property Plant And Equipment Gross	0.99	0.61	0.83	0.88	0.63	0.49	0.98	0.58	0.67	0.81	0.99	0.52	0.81	0.84	0.99	-0.37	0.64	0.89	0.88	0.64	0.73	0.88		-0.35	0.9	0.99
Short Long Term Debt	-0.35	-0.33	-0.25	-0.18	-0.12	-0.05	-0.31	-0.34	-0.09	-0.06	-0.37	-0.29	-0.06	-0.23	-0.37	0.19	-0.37	-0.38	-0.39	-0.12	-0.36	-0.32	-0.35		-0.27	-0.38
Total Current Assets	0.89	0.57	0.97	0.99	0.8	0.63	0.89	0.54	0.6	0.94	0.88	0.52	0.94	0.98	0.89	-0.46	0.56	0.81	0.76	0.78	0.65	0.97	0.9	-0.27		0.89
Net Working Capital	1.0	0.57	0.81	0.86	0.66	0.56	0.96	0.54	0.57	0.78	0.99	0.53	0.78	0.82	0.97	-0.26	0.57	0.92	0.87	0.66	0.67	0.87	0.99	-0.38	0.89

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Shoals Technologies Account Relationship Matchups

Shoals Technologies fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	187.6M	195.3M	426.4M	594.9M	844.0M	446.2M
Short Long Term Debt Total	26.1M	358.8M	247.1M	239.1M	184.7M	200.8M
Other Current Liab	1.3M	6.0M	9.6M	16.7M	52.9M	55.5M
Total Current Liabilities	24.5M	24.1M	31.6M	52.6M	92.6M	97.3M
Total Stockholder Equity	149.9M	(184.1M)	2.6M	291.4M	545.0M	572.2M
Net Tangible Assets	19.8M	(306.3M)	(132.1M)	164.8M	189.6M	199.1M
Property Plant And Equipment Net	10.9M	12.8M	15.6M	16.9M	27.7M	17.3M
Net Debt	19.0M	348.8M	242.0M	230.3M	162.0M	190.9M
Accounts Payable	10.4M	14.6M	20.0M	9.5M	14.4M	13.8M
Cash	7.1M	10.1M	5.0M	8.8M	22.7M	23.8M
Non Current Assets Total	141.1M	139.2M	333.0M	441.4M	616.8M	333.7M
Long Term Debt	13.2M	355.3M	55.1M	237.1M	179.4M	160.6M
Cash And Short Term Investments	7.1M	10.1M	5.0M	8.8M	22.7M	23.8M
Net Receivables	29.8M	30.8M	45.0M	67.3M	147.3M	154.6M
Liabilities And Stockholders Equity	187.6M	195.3M	426.4M	594.9M	844.0M	446.2M
Non Current Liabilities Total	13.2M	355.3M	402.4M	241.3M	206.4M	230.0M
Inventory	8.8M	15.1M	38.4M	72.9M	52.8M	36.3M
Other Current Assets	798K	155K	5.0M	4.6M	4.4M	2.9M
Other Stockholder Equity	152.6M	(184.1M)	95.7M	256.9M	470.5M	494.1M
Total Liab	37.7M	379.4M	433.9M	293.9M	299.0M	273.4M
Net Invested Capital	26.1M	358.8M	249.6M	530.4M	726.4M	762.8M
Property Plant And Equipment Gross	10.9M	12.8M	21.2M	24.2M	34.4M	20.9M
Total Current Assets	46.5M	56.1M	93.4M	153.5M	227.2M	238.5M
Net Working Capital	22.0M	32.0M	61.9M	100.9M	134.6M	69.1M
Intangible Assets	80.0M	72.0M	65.2M	56.6M	48.7M	54.7M
Property Plant Equipment	10.9M	12.8M	15.6M	20.9M	24.1M	15.5M

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