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Shoals Technologies is a proxy investment for the solar and EV industry, providing EBOS solutions for solar installations and EV charging infrastructure.
The solar market is expected to grow at a CAGR of 16%, while the EV market is projected to reach $951.9 billion by 2030.
SHLS has shown strong financial performance, with a 49.5% increase in revenue in FY23 and a solid balance sheet with increasing cash and reduced long-term debt.
I expect them to continue to perform due to their presence in the growing markets.
SHLS will continue to grow as these markets grow, making it a long-term buy.