Basis: Current FMP quote-based enterprise value / four-quarter operating income plus matched D&A. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the EV/EBITDA ratio high or low?
The EV/EBITDA ratio of 21.39x is 33% below its estimated 5-year average of 32.01x, near the low end of its estimated 5-year range (9.20x–102.92x).
As of 2026-10-06T21:48:08.832Z. 9.61% below its estimated 12-month average of 23.66x.
Calculation as of: 2026-10-06T21:48:08.832Z.
Quote observation: 2026-10-06T20:00:00.000Z. Amounts in USD. The price header may show a later quote.
FMP input reference: 2869b7a6f88195e088b61788d60f1837f70460a7530e507b13529c271d1f570b
Historical values estimate market capitalization from statement-period weighted shares. Comparisons with the current quote-based value are approximate. Only filing versions delivered by FMP are available for the historical calculation. Historical series through 2026-10-05.
Historical values estimate market capitalization from statement-period weighted shares. Comparisons with the current quote-based value are approximate. Only filing versions delivered by FMP are available for the historical calculation.
EV/EBITDA RATIO
21.39x
EV/EBITDA RATIO AVG TTM
23.66x
EV/EBITDA RATIO AVG 3Y
20.95x
EV/EBITDA RATIO AVG 5Y
32.01x
EV/EBITDA RATIO AVG 10Y
N/A
EV/EBITDA RATIO AVG 15Y
N/A
EV/EBITDA RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-9.61%
CURRENT VS 3Y AVG
+2.09%
CURRENT VS 5Y AVG
-33.18%
CURRENT VS 10Y AVG
N/A
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
SECTOR MEDIAN · ENERGY
7.79x
median of 81 covered companies
CURRENT VS SECTOR MEDIAN
+174.58%
vs the sector median at left
Shoals Technologies Group, Inc.
Market Cap
$1.42B
EV/EBITDA Ratio
21.39x
TTM Avg
23.66x
3Y Avg
20.95x
5Y Avg
32.01x
Market Cap
$1.40B
EV/EBITDA Ratio
7.59x
TTM Avg
8.07x
3Y Avg
8.52x
5Y Avg
8.60x
Market Cap
$1.46B
EV/EBITDA Ratio
9.91x
TTM Avg
9.19x
3Y Avg
6.98x
5Y Avg
6.01x
Market Cap
$1.04B
EV/EBITDA Ratio
3.62x
TTM Avg
3.13x
3Y Avg
3.06x
5Y Avg
5.91x
Market Cap
$881.99M
EV/EBITDA Ratio
10.86x
TTM Avg
8.99x
3Y Avg
6.37x
5Y Avg
5.38x
Market Cap
$844.61M
EV/EBITDA Ratio
7.25x
TTM Avg
7.54x
3Y Avg
7.54x
5Y Avg
7.54x
Market Cap
$785.55M
EV/EBITDA Ratio
N/A
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
| NAME | MARKET CAP | EV/EBITDA RATIO | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Shoals Technologies Group, Inc. (SHLS) | $1.42B | 21.39x | 23.66x | 20.95x | 32.01x |
| Dorchester Minerals, L.P. (DMLP)vs › | $1.40B | 7.59x | 8.07x | 8.52x | 8.60x |
| Natural Resource Partners L.P. (NRP)vs › | $1.46B | 9.91x | 9.19x | 6.98x | 6.01x |
| HighPeak Energy, Inc. (HPK)vs › | $1.04B | 3.62x | 3.13x | 3.06x | 5.91x |
| Nextdecade Corp (NEXT)vs › | $1.82B | N/A | N/A | N/A | N/A |
| Sunrun Inc. (RUN)vs › | $1.85B | 15.61x | 22.79x | 22.79x | 22.79x |
| ProFrac Holding Corp. (ACDC)vs › | $881.99M | 10.86x | 8.99x | 6.37x | 5.38x |
| HMH Holding Inc. Class A Common Stock (HMH)vs › | $844.61M | 7.25x | 7.54x | 7.54x | 7.54x |
| New Fortress Energy Inc. Series A Mandatorily Convertible Preferred Stock (NFEGP)vs › | $785.55M | N/A | N/A | N/A | N/A |
| Canadian Solar Inc. (CSIQ)vs › | $783.53M | 66.22x | 28.40x | 15.50x | 13.85x |
At 21.4, EV/EBITDA is below its estimated 6-year median — higher than 30% of readings in its estimated 6-year history.
Historical values estimate market capitalization from statement-period weighted shares. Comparisons with the current quote-based value are approximate. Only filing versions delivered by FMP are available for the historical calculation.
estimated 6-year low
9.2
median
31.7
estimated 6-year high
147.9
EV/EBITDA = Enterprise Value / EBITDA (TTM)
Enterprise value to EBITDA is a capital-structure-neutral valuation multiple, useful for comparing companies with different debt levels and tax rates.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | EV/EBITDA RATIO |
|---|---|
| 2026-10-05 | 20.89x |
| 2026-10-02 | 21.22x |
| 2026-10-01 | 20.84x |
| 2026-09-30 | 20.78x |
| 2026-09-29 | 20.05x |
| 2026-09-28 | 19.27x |
| 2026-09-25 | 19.38x |
| 2026-09-24 | 19.34x |
| 2026-09-23 | 19.91x |
| 2026-09-22 | 20.89x |
| 2026-09-21 | 20.20x |
| 2026-09-18 | 19.67x |
| 2026-09-17 | 19.78x |
| 2026-09-16 | 17.94x |
| 2026-09-15 | 18.48x |
| 2026-09-14 | 18.45x |
| 2026-09-11 | 19.01x |
| 2026-09-10 | 18.59x |
| 2026-09-09 | 18.48x |
| 2026-09-08 | 19.27x |
| 2026-09-04 | 18.63x |
| 2026-09-03 | 18.41x |
| 2026-09-02 | 17.72x |
| 2026-09-01 | 17.68x |
| 2026-08-31 | 18.17x |
| 2026-08-28 | 18.65x |
| 2026-08-27 | 19.27x |
| 2026-08-26 | 19.03x |
| 2026-08-25 | 18.10x |
| 2026-08-24 | 17.90x |
| 2026-08-21 | 18.56x |
| 2026-08-20 | 19.18x |
| 2026-08-19 | 20.45x |
| 2026-08-18 | 19.85x |
| 2026-08-17 | 21.07x |
| 2026-08-14 | 21.55x |
| 2026-08-13 | 20.87x |
| 2026-08-12 | 21.31x |
| 2026-08-11 | 22.17x |
| 2026-08-10 | 21.80x |
| 2026-08-07 | 22.62x |
| 2026-08-06 | 21.89x |
| 2026-08-05 | 22.06x |
| 2026-08-04 | 24.23x |
| 2026-08-03 | 24.57x |
| 2026-07-31 | 23.12x |
| 2026-07-30 | 23.49x |
| 2026-07-29 | 21.28x |
| 2026-07-28 | 22.66x |
| 2026-07-27 | 24.62x |
| 2026-07-24 | 24.62x |
| 2026-07-23 | 25.77x |
| 2026-07-22 | 27.01x |
| 2026-07-21 | 26.90x |
| 2026-07-20 | 25.15x |
| 2026-07-17 | 26.71x |
| 2026-07-16 | 27.27x |
| 2026-07-15 | 29.48x |
| 2026-07-14 | 27.77x |
| 2026-07-13 | 24.64x |
| 2026-07-10 | 26.07x |
| 2026-07-09 | 26.21x |
| 2026-07-08 | 25.52x |
| 2026-07-07 | 26.11x |
| 2026-07-06 | 27.36x |
| 2026-07-02 | 25.91x |
| 2026-07-01 | 26.30x |
| 2026-06-30 | 25.79x |
| 2026-06-29 | 24.39x |
| 2026-06-26 | 23.72x |
| 2026-06-25 | 25.70x |
| 2026-06-24 | 26.48x |
| 2026-06-23 | 26.67x |
| 2026-06-22 | 28.19x |
| 2026-06-18 | 26.99x |
| 2026-06-17 | 24.73x |
| 2026-06-16 | 25.93x |
| 2026-06-15 | 26.71x |
| 2026-06-12 | 27.01x |
| 2026-06-11 | 25.77x |
| 2026-06-10 | 24.29x |
| 2026-06-09 | 25.17x |
| 2026-06-08 | 28.05x |
| 2026-06-05 | 27.89x |
| 2026-06-04 | 32.40x |
| 2026-06-03 | 31.53x |
| 2026-06-02 | 31.69x |
| 2026-06-01 | 31.04x |
| 2026-05-29 | 31.66x |
| 2026-05-28 | 31.09x |
| 2026-05-27 | 30.90x |
| 2026-05-26 | 27.91x |
| 2026-05-22 | 25.81x |
| 2026-05-21 | 24.99x |
| 2026-05-20 | 25.28x |
| 2026-05-19 | 24.36x |
| 2026-05-18 | 25.24x |
| 2026-05-15 | 26.78x |
| 2026-05-14 | 24.36x |
| 2026-05-13 | 23.97x |
| 2026-05-12 | 22.87x |
| 2026-05-11 | 24.46x |
| 2026-05-08 | 23.35x |
| 2026-05-07 | 21.05x |
| 2026-05-06 | 22.18x |
| 2026-05-05 | 22.58x |
| 2026-05-04 | 22.93x |
| 2026-05-01 | 22.65x |
| 2026-04-30 | 22.11x |
| 2026-04-29 | 20.62x |
| 2026-04-28 | 21.39x |
| 2026-04-27 | 21.76x |
| 2026-04-24 | 22.08x |
| 2026-04-23 | 21.71x |
| 2026-04-22 | 21.02x |
| 2026-04-21 | 19.46x |
| 2026-04-20 | 19.98x |
| 2026-04-17 | 20.18x |
| 2026-04-16 | 19.58x |
| 2026-04-15 | 20.35x |
| 2026-04-14 | 20.33x |
| 2026-04-13 | 18.96x |
| 2026-04-10 | 19.73x |
| 2026-04-09 | 19.71x |
| 2026-04-08 | 19.66x |
| 2026-04-07 | 18.32x |
| 2026-04-06 | 18.69x |
| 2026-04-02 | 19.34x |
| 2026-04-01 | 19.53x |
| 2026-03-31 | 18.74x |
| 2026-03-30 | 17.93x |
| 2026-03-27 | 18.84x |
| 2026-03-26 | 18.47x |
| 2026-03-25 | 19.56x |
| 2026-03-24 | 19.41x |
| 2026-03-23 | 17.90x |
| 2026-03-20 | 17.55x |
| 2026-03-19 | 17.41x |
| 2026-03-18 | 17.18x |
| 2026-03-17 | 17.73x |
| 2026-03-16 | 17.80x |
| 2026-03-13 | 17.63x |
| 2026-03-12 | 17.60x |
| 2026-03-11 | 17.97x |
| 2026-03-10 | 17.97x |
| 2026-03-09 | 16.69x |
| 2026-03-06 | 16.59x |
| 2026-03-05 | 16.93x |
| 2026-03-04 | 17.65x |
| 2026-03-03 | 17.08x |
| 2026-03-02 | 17.21x |
| 2026-02-27 | 17.13x |
| 2026-02-26 | 18.17x |
| 2026-02-25 | 19.41x |
| 2026-02-24 | 19.08x |
| 2026-02-23 | 26.60x |
| 2026-02-20 | 28.34x |
| 2026-02-19 | 27.31x |
| 2026-02-18 | 28.63x |
| 2026-02-17 | 28.56x |
| 2026-02-13 | 27.43x |
| 2026-02-12 | 26.01x |
| 2026-02-11 | 26.33x |
| 2026-02-10 | 27.48x |
| 2026-02-09 | 27.82x |
| 2026-02-06 | 27.55x |
| 2026-02-05 | 25.98x |
| 2026-02-04 | 27.28x |
| 2026-02-03 | 26.87x |
| 2026-02-02 | 25.17x |
| 2026-01-30 | 25.47x |
| 2026-01-29 | 26.89x |
| 2026-01-28 | 27.21x |
| 2026-01-27 | 25.79x |
| 2026-01-26 | 25.05x |
| 2026-01-23 | 24.93x |
| 2026-01-22 | 26.01x |
| 2026-01-21 | 24.51x |
| 2026-01-20 | 24.90x |
| 2026-01-16 | 25.05x |
| 2026-01-15 | 25.30x |
| 2026-01-14 | 24.73x |
| 2026-01-13 | 25.98x |
| 2026-01-12 | 25.91x |
| 2026-01-09 | 23.55x |
| 2026-01-08 | 23.40x |
| 2026-01-07 | 23.99x |
| 2026-01-06 | 24.98x |
| 2026-01-05 | 24.12x |
| 2026-01-02 | 24.61x |
| 2025-12-31 | 23.16x |
| 2025-12-30 | 23.33x |
| 2025-12-29 | 24.29x |
| 2025-12-26 | 24.90x |
| 2025-12-24 | 24.85x |
| 2025-12-23 | 24.66x |
| 2025-12-22 | 25.17x |
| 2025-12-19 | 24.29x |
| 2025-12-18 | 23.50x |
| 2025-12-17 | 22.96x |
| 2025-12-16 | 23.26x |
| 2025-12-15 | 23.58x |
| 2025-12-12 | 24.02x |
| 2025-12-11 | 25.84x |
| 2025-12-10 | 23.40x |
| 2025-12-09 | 22.13x |
| 2025-12-08 | 21.98x |
| 2025-12-05 | 22.01x |
| 2025-12-04 | 21.76x |
| 2025-12-03 | 20.97x |
| 2025-12-02 | 21.49x |
| 2025-12-01 | 21.51x |
| 2025-11-28 | 22.89x |
| 2025-11-26 | 22.35x |
| 2025-11-25 | 22.23x |
| 2025-11-24 | 21.34x |
| 2025-11-21 | 21.49x |
| 2025-11-20 | 20.61x |
| 2025-11-19 | 22.15x |
| 2025-11-18 | 21.88x |
| 2025-11-17 | 21.81x |
| 2025-11-14 | 22.91x |
| 2025-11-13 | 22.13x |
| 2025-11-12 | 24.22x |
| 2025-11-11 | 24.22x |
| 2025-11-10 | 25.34x |
| 2025-11-07 | 24.58x |
| 2025-11-06 | 24.76x |
| 2025-11-05 | 25.20x |
| 2025-11-04 | 30.81x |
| 2025-11-03 | 34.19x |
| 2025-10-31 | 34.72x |
| 2025-10-30 | 33.58x |
| 2025-10-29 | 35.06x |
| 2025-10-28 | 34.78x |
| 2025-10-27 | 34.81x |
| 2025-10-24 | 35.46x |
| 2025-10-23 | 34.16x |
| 2025-10-22 | 32.96x |
| 2025-10-21 | 34.63x |
| 2025-10-20 | 34.81x |
| 2025-10-17 | 32.99x |
| 2025-10-16 | 33.55x |
| 2025-10-15 | 35.77x |
| 2025-10-14 | 33.55x |
| 2025-10-13 | 30.84x |
| 2025-10-10 | 29.33x |
| 2025-10-09 | 30.07x |
| 2025-10-08 | 29.57x |
| 2025-10-07 | 28.65x |
| 2025-10-06 | 29.27x |
| 2025-10-03 | 28.53x |
| 2025-10-02 | 29.79x |
| 2025-10-01 | 26.77x |
| 2025-09-30 | 25.17x |
| 2025-09-29 | 25.44x |
| 2025-09-26 | 25.94x |
| 2025-09-25 | 25.69x |
| 2025-09-24 | 26.06x |
| 2025-09-23 | 24.52x |
Showing the most recent 260 of 1,429 data points. The chart above shows the full history.
