SHEN · Shenandoah Telecommunications Co/Va/ - Financials

Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.

Price · SHEN

1Y 3Y 5Y Max

Annual Quarterly

Income Statement

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$357.85M	$328.06M	$287.38M	$267.37M	$245.24M	$220.78M
Cost of Revenue	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-
R&D	-	-	-	-	-	-
SG&A	$118.19M	$115.19M	$103.63M	$92.39M	$82.45M	$85.02M
Total Operating Expenses	$381.09M	$356.65M	$247.67M	$275.33M	$247.67M	$221.92M
D&A	$129.68M	$96.91M	$65.47M	$68.90M	$55.21M	$48.70M
Operating Income	($23.24M)	($28.59M)	$9.62M	($7.96M)	($2.43M)	($1.15M)
Interest Expense	$25.37M	$15.90M	$10.40M	-	$2.60M	-
Income Tax	($8.91M)	($9.67M)	$2.97M	($927.0K)	($1.69M)	($586.0K)
Net Income	($32.94M)	$193.82M	$8.04M	($8.38M)	$998.83M	$126.72M
EPS - Basic	($0.71)	$3.54	$0.16	($0.17)	$19.97	$2.54
EPS - Diluted	($0.71)	$3.54	$0.16	($0.17)	$19.92	$2.53

Balance Sheet

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Cash & Equivalents	$27.26M	$46.27M	$139.25M	$44.06M	$84.34M	$195.40M
Accounts Receivable	$31.50M	$29.72M	$19.78M	$20.61M	$22.00M	$70.39M
Inventory	-	-	-	-	-	-
Accounts Payable	$61.35M	$57.82M	$53.55M	$49.17M	$28.54M	$19.60M
Current Assets	$97.44M	$94.52M	$176.07M	$128.56M	$166.37M	$1.41B
Total Assets	$1.91B	$1.74B	$1.21B	$977.72M	$890.73M	$2.03B
Current Liabilities	$108.50M	$114.57M	$98.36M	$96.42M	$67.29M	$1.21B
Long-term Debt	$628.24M	$407.68M	$292.80M	$74.31M	-	$0
Total Liabilities	-	-	-	-	-	-
Stockholders' Equity	$880.78M	$918.58M	$652.67M	$638.01M	$642.27M	$582.39M
Retained Earnings	$723.57M	$769.00M	$584.07M	$580.55M	$592.92M	$539.78M

Cash Flow

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Operating Cash Flow	$101.00M	$62.57M	$113.77M	$74.89M	($250.93M)	$302.87M
Investing Cash Flow	($294.66M)	($339.41M)	($236.69M)	($184.18M)	$1.78B	($155.59M)
Financing Cash Flow	$195.60M	$183.86M	$218.11M	$69.00M	($1.64B)	($53.53M)
CapEx	$358.92M	$319.07M	$256.55M	$189.61M	$160.10M	$120.45M
Free Cash Flow	($257.92M)	($256.50M)	($142.78M)	($114.71M)	($411.04M)	$182.42M

Ratios

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Profitability
Gross margin	-	-	-	-	-	-
Operating margin	-6.5%	-8.7%	3.3%	-3.0%	-1.0%	-0.5%
EBITDA margin	29.7%	20.8%	26.1%	22.8%	21.5%	21.5%
Net margin	-9.2%	59.1%	2.8%	-3.1%	407.3%	57.4%
Free cash flow margin	-72.1%	-78.2%	-49.7%	-42.9%	-167.6%	82.6%
FCF / Net income	7.83	-1.32	-17.76	13.69	-0.41	1.44
R&D / Revenue	-	-	-	-	-	-
SG&A / Revenue	33.0%	35.1%	36.1%	34.6%	33.6%	38.5%
Effective tax rate	-	-5.3%	27.0%	-	-0.2%	-0.5%
Return on assets	-1.7%	11.1%	0.7%	-0.9%	112.1%	6.2%
Return on equity	-3.7%	21.1%	1.2%	-1.3%	155.5%	21.8%
Return on invested capital	-1.2%	-2.2%	0.7%	-0.9%	-	-0.2%
Liquidity
Current ratio	0.90	0.82	1.79	1.33	2.47	1.17
Quick ratio	0.90	0.82	1.79	1.33	2.47	1.17
Cash ratio	0.25	0.40	1.42	0.46	1.25	0.16
Leverage
Debt / Equity	0.71	0.44	0.45	0.12	-	0.00
Debt / Assets	0.33	0.23	0.24	0.08	-	0.00
Debt / EBITDA	5.90	5.97	3.90	1.22	-	0.00
Interest coverage	-0.9x	-1.8x	0.9x	-	-0.9x	-
Equity multiplier	2.17	1.89	1.86	1.53	1.39	3.49
Liabilities / Assets	-	-	-	-	-	-
Efficiency
Asset turnover	0.19	0.19	0.24	0.27	0.28	0.11
Inventory turnover	-	-	-	-	-	-
Days sales outstanding	32d	33d	25d	28d	33d	116d
Days inventory outstanding	-	-	-	-	-	-
Days payable outstanding	-	-	-	-	-	-
Cash conversion cycle	-	-	-	-	-	-
Valuation
P / E	-	3.6x	135.1x	-	1.3x	17.1x
P / B	0.7x	0.7x	1.7x	1.2x	2.0x	3.7x
P / S	1.8x	2.1x	3.8x	3.0x	5.2x	9.8x
EV / EBITDA	11.6x	15.2x	16.6x	13.6x	22.6x	41.4x
Growth
Revenue growth (YoY)	9.1%	14.2%	7.5%	9.0%	11.1%	-65.2%
Revenue CAGR (3y)	10.2%	10.2%	9.2%	-25.0%	-22.9%	-28.8%
Revenue CAGR (5y)	10.1%	-12.3%	-11.7%	-15.3%	-14.5%	-8.4%
Gross profit growth (YoY)	-	-	-	-	-	-
Operating income growth (YoY)	18.7%	-	-	-227.5%	-111.9%	-
Net income growth (YoY)	-	2311.3%	-	-	688.2%	130.7%
EPS growth (YoY)	-	2112.5%	-	-	687.4%	130.0%
EPS CAGR (3y)	-	-43.8%	-60.2%	-	177.7%	23.9%
EPS CAGR (5y)	-	26.3%	-29.7%	-	-	25.0%
FCF growth (YoY)	-0.6%	-79.7%	-24.5%	72.1%	-	51.6%
FCF CAGR (5y)	-	-	-	-	-	29.7%
Book value growth (YoY)	-4.1%	40.7%	2.3%	-0.7%	10.3%	24.1%

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2025-12-31.

Business segments

$357.85M total

Reportable Segment$357.85M · 100.0%

Product / service

$715.71M total

Service$351.07M · 49.1%

Residential And SMBIncumbent Broadband$169.67M · 23.7%

Residential And SMBGlo Fiber Expansion Markets$82.56M · 11.5%

Commercial Fiber$79.31M · 11.1%

RLECOther$26.31M · 3.7%

Income From Leasing Arrangements$6.79M · 0.9%

Stability scores

Piotroski F-score

FY 2025 · 9-point quality

3/9

Weak

✗Net income positive
✓Operating cash flow positive
✗ROA improved YoY
✓Cash flow > net income
✗Long-term debt decreased
✓Current ratio improved
✗No share dilution
-Gross margin improved
✗Asset turnover improved

Peer comparison

Same SIC group: Telephone Communications (No Radiotelephone)

Company	Revenue (last FY)	Net margin	ROE
VZ	$138.19B	12.4%	16.2%
T	$125.65B	17.5%	17.4%
CXDO	$68.17M	7.4%	7.9%
FYBR	-	-	-
TDS	$1.23B	-0.5%	-0.1%

Comparing SHENANDOAH TELECOMMUNICATIONS CO/VA/ against the 5 most active filers in the same SIC group.

Dividends

$0.11/share trailing 12 months · +10.0% YoY

Ex-date	Per share
Nov 7, 2025	$0.1100
Nov 5, 2024	$0.1000
Nov 6, 2023	$0.0900
Nov 4, 2022	$0.0800
Nov 5, 2021	$0.0700
Aug 3, 2021	$18.7500
Nov 10, 2020	$0.3400
Nov 13, 2019	$0.2900
Nov 8, 2018	$0.2700
Nov 2, 2017	$0.2600
Nov 2, 2016	$0.2500
Nov 3, 2015	$0.2400
Nov 3, 2014	$0.2350
Nov 4, 2013	$0.1800
Nov 5, 2012	$0.1650
Nov 7, 2011	$0.1650
Nov 5, 2010	$0.1650
Nov 6, 2009	$0.1600
Nov 7, 2008	$0.1500
Nov 9, 2007	$0.1350
Nov 13, 2006	$0.1250
Nov 9, 2005	$0.0767
Nov 9, 2004	$0.0717
Nov 12, 2003	$0.0650