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Photronics vs Shoals Technologies Group: PLAB and SHLS compared
Photronics is the larger company: $216M of revenue in its latest quarter (Q3 FY26) against $195M for Shoals Technologies Group (Q3 2026). Shoals Technologies Group is growing faster (+44% against +3% a year earlier). Photronics is more profitable, with an operating margin of 21.1% against 14.8%.
Where the money goes: PLAB and SHLS
Photronics (PLAB) · Q3 FY26
Photronics, Q3 FY26: revenue $216M (+3% year over year), operating margin 21.1%, net earnings $28.9M, operating cash flow $76.3M. The chart follows the revenue to costs, profit and cash.
Shoals Technologies Group (SHLS) · Q3 2026
Shoals Technologies Group, Q3 2026: revenue $195M (+44% year over year), operating margin 14.8%, net earnings $17.9M, operating cash flow $28.9M. The chart follows the revenue to costs, profit and cash.
| Photronics (PLAB) | Shoals Technologies Group (SHLS) | |
|---|---|---|
| Latest quarter | Q3 FY26 | Q3 2026 |
| Revenue | $216M | $195M |
| Revenue growth, Y/Y | +3% | +44% |
| Gross margin | 33.2% | 31.9% |
| Operating margin | 21.1% | 14.8% |
| Net earnings | $28.9M | $17.9M |
| Net margin | 13.4% | 9.1% |
| Operating cash flow | $76.3M | $28.9M |
| Free cash flow | $39.4M | $26.0M |
| Market value | $1.7B | — |
| P/E | 10.4× | — |
| Analysts’ mean target | $41.33 | — |
Where the revenue comes from
Photronics
- Integrated Circuits: $155M (72%)
- Flat Panel Displays: $61.4M (28%)
Shoals Technologies Group
- System solutions: $150M (77%)
- Components: $44.9M (23%)
Questions
Which is bigger, Photronics or Shoals Technologies Group?
Photronics is the larger company: $216M of revenue in its latest quarter (Q3 FY26) against $195M for Shoals Technologies Group (Q3 2026).
Is Photronics or Shoals Technologies Group growing faster?
Shoals Technologies Group is growing faster (+44% against +3% a year earlier).
Which is more profitable, Photronics or Shoals Technologies Group?
Photronics is more profitable, with an operating margin of 21.1% against 14.8%.
More: Photronics earnings · how Photronics makes money · Shoals Technologies Group earnings · how Shoals Technologies Group makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Sep 10, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.