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.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $92.15M | - | $89.80M | $88.57M | $87.90M | - | $87.60M | $85.80M | $69.25M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $33.39M | - | $29.79M | $29.74M | $30.99M | - | $28.01M | $30.24M | $28.60M | - |
| Total Operating Expenses | $102.62M | - | $96.96M | $97.68M | $93.99M | - | $91.78M | $101.68M | $72.02M | - |
| D&A | $34.54M | - | $34.00M | $34.60M | $28.98M | - | $27.68M | $25.58M | $17.44M | - |
| Operating Income | ($10.47M) | - | ($7.16M) | ($9.11M) | ($6.09M) | - | ($4.18M) | ($15.88M) | ($2.78M) | - |
| Interest Expense | $9.44M | - | $6.79M | $6.00M | $4.89M | - | $3.67M | $4.00M | $4.08M | - |
| Income Tax | ($4.11M) | - | ($2.97M) | ($3.05M) | ($1.12M) | - | ($1.54M) | ($5.20M) | ($1.03M) | - |
| Net Income | ($15.75M) | - | ($10.91M) | ($12.87M) | ($9.13M) | - | $1.59M | ($12.87M) | $214.70M | - |
| EPS - Basic | ($0.31) | - | ($0.20) | ($0.19) | ($0.19) | - | ($0.13) | ($0.24) | $4.25 | - |
| EPS - Diluted | ($0.31) | - | ($0.20) | ($0.19) | ($0.19) | - | ($0.13) | ($0.24) | $4.21 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $43.77M | $27.26M | $22.62M | $29.08M | $87.55M | $46.27M | $43.10M | $43.78M | $389.74M | $139.25M |
| Accounts Receivable | $24.76M | $31.50M | $25.31M | $34.55M | $29.75M | $29.72M | $32.53M | $29.64M | $18.23M | $19.78M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $54.19M | $61.35M | $76.87M | $62.52M | $59.27M | $57.82M | $65.95M | $57.73M | $50.28M | $53.55M |
| Current Assets | $114.22M | $97.44M | $67.99M | $83.35M | $134.46M | $94.52M | $97.51M | $99.52M | $426.17M | $176.07M |
| Total Assets | $1.95B | $1.91B | $1.85B | $1.81B | $1.83B | $1.74B | $1.69B | $1.66B | $1.45B | $1.21B |
| Current Liabilities | $101.56M | $108.50M | $135.40M | $114.94M | $111.99M | $114.57M | $123.13M | $112.09M | $91.03M | $98.36M |
| Long-term Debt | $693.89M | $628.24M | $524.02M | $501.61M | $504.20M | $407.68M | $335.93M | $288.57M | $290.72M | $292.80M |
| Total Liabilities | - | - | - | - | - | - | - | - | - | - |
| Stockholders' Equity | $866.96M | $880.78M | $892.68M | $901.96M | $910.47M | $918.58M | $925.36M | $933.08M | $871.64M | $652.67M |
| Retained Earnings | $706.24M | $723.57M | $736.93M | $747.85M | $758.39M | $769.00M | $778.99M | $785.89M | $798.76M | $584.07M |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $24.37M | - | - | - | $20.52M | - | - | - | $15.16M | - |
| Investing Cash Flow | ($64.11M) | - | - | - | ($76.26M) | - | - | - | $238.48M | - |
| Financing Cash Flow | $62.61M | - | - | - | $97.01M | - | - | - | ($3.16M) | - |
| CapEx | $75.82M | - | - | - | $83.24M | - | - | - | $70.05M | - |
| Free Cash Flow | ($51.45M) | - | - | - | ($62.71M) | - | - | - | ($54.90M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | -11.4% | - | -8.0% | -10.3% | -6.9% | - | -4.8% | -18.5% | -4.0% | - |
| EBITDA margin | 26.1% | - | 29.9% | 28.8% | 26.0% | - | 26.8% | 11.3% | 21.2% | - |
| Net margin | -17.1% | - | -12.2% | -14.5% | -10.4% | - | 1.8% | -15.0% | 310.0% | - |
| Free cash flow margin | -55.8% | - | - | - | -71.3% | - | - | - | -79.3% | - |
| FCF / Net income | 3.27 | - | - | - | 6.87 | - | - | - | -0.26 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 36.2% | - | 33.2% | 33.6% | 35.3% | - | 32.0% | 35.2% | 41.3% | - |
| Effective tax rate | - | - | - | - | - | - | -3023.5% | - | -0.5% | - |
| Return on assets | -0.8% | - | -0.6% | -0.7% | -0.5% | - | 0.1% | -0.8% | 14.8% | - |
| Return on equity | -1.8% | - | -1.2% | -1.4% | -1.0% | - | 0.2% | -1.4% | 24.6% | - |
| Return on invested capital | -0.5% | - | -0.4% | -0.5% | -0.3% | - | -0.3% | -1.0% | -0.2% | - |
| Liquidity | ||||||||||
| Current ratio | 1.12 | 0.90 | 0.50 | 0.73 | 1.20 | 0.82 | 0.79 | 0.89 | 4.68 | 1.79 |
| Quick ratio | 1.12 | 0.90 | 0.50 | 0.73 | 1.20 | 0.82 | 0.79 | 0.89 | 4.68 | 1.79 |
| Cash ratio | 0.43 | 0.25 | 0.17 | 0.25 | 0.78 | 0.40 | 0.35 | 0.39 | 4.28 | 1.42 |
| Leverage | ||||||||||
| Debt / Equity | 0.80 | 0.71 | 0.59 | 0.56 | 0.55 | 0.44 | 0.36 | 0.31 | 0.33 | 0.45 |
| Debt / Assets | 0.36 | 0.33 | 0.28 | 0.28 | 0.28 | 0.23 | 0.20 | 0.17 | 0.20 | 0.24 |
| Debt / EBITDA | 28.82 | - | 19.53 | 19.68 | 22.03 | - | 14.29 | 29.77 | 19.82 | - |
| Interest coverage | -1.1x | - | -1.1x | -1.5x | -1.2x | - | -1.1x | -4.0x | -0.7x | - |
| Equity multiplier | 2.25 | 2.17 | 2.07 | 2.01 | 2.00 | 1.89 | 1.83 | 1.78 | 1.66 | 1.86 |
| Liabilities / Assets | - | - | - | - | - | - | - | - | - | - |
| Efficiency | ||||||||||
| Asset turnover | 0.05 | - | 0.05 | 0.05 | 0.05 | - | 0.05 | 0.05 | 0.05 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 98d | - | 103d | 142d | 124d | - | 136d | 126d | 96d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | 4.1x | - |
| P / B | 1.0x | - | 0.8x | 0.8x | 0.8x | - | 0.8x | 1.0x | 1.0x | - |
| P / S | 9.3x | - | 8.2x | 8.5x | 7.9x | - | 8.8x | 10.4x | 12.8x | - |
| EV / EBITDA | 62.6x | - | 46.3x | 48.1x | 48.4x | - | 45.3x | 117.4x | 53.7x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 4.8% | - | 2.5% | 3.2% | 26.9% | - | 21.9% | 20.3% | -3.4% | - |
| Revenue CAGR (3y) | 8.7% | - | 10.3% | 10.3% | 10.9% | - | 12.1% | 12.2% | 5.1% | - |
| Revenue CAGR (5y) | 9.1% | - | 10.2% | -12.2% | -10.5% | - | -10.8% | -11.6% | -15.3% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | -71.8% | - | -71.6% | 42.7% | -119.5% | - | - | - | - | - |
| Net income growth (YoY) | -72.5% | - | - | 0.0% | - | - | 0.0% | - | 10291.9% | - |
| EPS growth (YoY) | -63.2% | - | -53.8% | 20.8% | - | - | - | - | 10425.0% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | 59.9% | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | 72.0% | - |
| FCF growth (YoY) | 18.0% | - | - | - | -14.2% | - | - | - | -183.7% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -4.8% | -4.1% | -3.5% | -3.3% | 4.5% | 40.7% | 41.4% | 43.7% | 35.6% | 2.3% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$357.85M totalReportable Segment$357.85M · 100.0%
Product / service
$715.71M totalService$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%
Peer comparison
Same SIC group: Telephone Communications (No Radiotelephone)
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 |