- Thanks to the BLA system, Shoals' market share increased from 7% in 2017 to 37% in 2021. The market share is expected to reach 60% in a few years.
- The company is taking away share from competitors in a market expected to double in the coming years.
- If SHLS can successfully enter the EV charging market, the market will reevaluate the company's stock substantially as EV companies trade at higher multiples on average.
- According to our calculations, SHLS's net margin will increase by about two percentage points due to the integration of ConnectPV.
- The company is trading at a solid discount to our estimate of fair value.
For further details see:
Shoals Technologies: A Growth Company With A Competitive Moat