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Financials · SHEN

Shenandoah Telecommunications Co (SHEN) financials

For the twelve months ended Sep 30, 2026, Shenandoah Telecommunications Co reported $371.14M of revenue and -$38.00M of net income.

Revenue, TTM
$371.14M
Revenue growth, YoY
+5.5%
Net income, TTM
-$38.00M
Net margin
-10.2%
Free cash flow, TTM
-$216.95M
EPS, diluted, TTM
-$0.80
Cash
$18.65M
Total debt
$747.09M
P/S
1.52
Market cap
$565.3M
Annual revenue$357.85M
FY2016FY2025
Annual net income-$32.94M
FY2016FY2025
Annual free cash flow-$257.92M
FY2016FY2025

SHEN revenue and earnings growth

SHEN revenueQ3 2026$93.93M

Quarter YoY
+4.6%
QoQ
+0.5%
FY YoY
+9.1%
5Y CAGR
+10.1%
10Y CAGR
+0.4%

SHEN revenue was $93.93M in fiscal Q3 2026 (ended Sep 30, 2026), up 4.6% from a year earlier and up 0.5% from the prior quarter. For the full fiscal 2025 it was $357.85M, up 9.1% from fiscal 2024. Compound annual growth was +10.1% over 5 years and +0.4% over 10 years. It rose in 9 of the last 10 fiscal years.

SHEN net incomeQ3 2026-$9.18M

SHEN net income was -$9.18M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$9.39M a year earlier. For the full fiscal 2025 it was -$32.94M, compared with $193.82M in fiscal 2024.

SHEN EPSQ3 2026-$0.19

SHEN diluted EPS was -$0.19 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$0.20 a year earlier. For the full fiscal 2025 it was -$0.71, compared with $3.54 in fiscal 2024.

SHEN free cash flowQ3 2026-$40.98M

SHEN free cash flow was -$40.98M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$51.38M a year earlier. For the full fiscal 2025 it was -$257.92M, compared with -$256.50M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$357.85M$328.06M$269.13M$248.91M$245.24M$220.78M$206.86M$192.68M$611.99M$535.29M
Cost of revenue--------$211.51M$193.52M
Gross profit--------$400.48M$341.77M
Selling, general and admin$118.19M$115.19M$99.30M$91.11M$82.45M$85.02M$77.85M$70.84M$165.94M$133.32M
Operating income-$23.24M-$28.59M$142.0K-$17.46M-$2.43M-$2.60M-$1.34M-$2.97M$46.51M$22.53M
Interest expense$25.37M$15.90M$4.21M$1.58M$2.60M-$29.47M$34.85M$38.24M$25.10M
Pre-tax income-$41.86M-$38.03M$1.52M-$18.82M$6.24M$586.0K$1.94M$734.0K$13.26M$1.95M
Income tax-$8.91M-$9.67M$501.0K-$3.40M-$1.69M-$990.0K$6.0K-$1.34M-$53.13M$2.84M
Net income-$32.94M$193.82M$8.04M-$8.38M$998.83M$125.67M$55.50M$46.59M$66.39M-$895.0K
EPS, basic-$0.71$3.54$0.16-$0.17$19.97$2.52$1.11$0.94$1.35-$0.02
EPS, diluted-$0.71$3.54$0.16-$0.17$19.92$2.51$1.11$0.93$1.33-$0.02
Diluted shares55.1M53.7M50.7M50.2M50.1M50.0M50.1M50.1M50.0M48.8M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$27.26M$46.27M$139.25M$44.06M$84.34M$195.40M$101.65M$85.09M$78.58M$36.19M
Receivables$31.50M$29.72M$19.78M$20.61M$22.00M$70.39M$63.64M$54.41M$54.18M$69.79M
Inventory------$5.73M$5.26M$5.70M$39.04M
Current assets$97.44M$94.52M$176.07M$128.56M$166.37M$1.41B$241.85M$210.20M$172.90M$161.47M
Goodwill$67.54M$67.06M----$149.07M$146.50M$146.50M$145.26M
Total assets$1.91B$1.74B$1.21B$977.72M$890.73M$2.02B$1.90B$1.48B$1.41B$1.48B
Current liabilities$108.50M$114.57M$98.36M$96.42M$67.29M$1.21B$153.58M$88.54M$137.58M$164.26M
Short-term debt$0$9.20M$7.09M$648.0K$0$688.46M$31.65M$20.62M$64.40M$32.04M
Long-term debt$628.24M$407.68M$292.80M$74.31M$0$0$688.46M$749.62M$757.56M$797.22M
Total debt$628.24M$416.88M$299.90M$74.95M$0$688.46M$720.11M$770.24M$821.96M$829.26M
Shareholders' equity$880.78M$918.58M$652.67M$638.01M$642.27M$577.05M$468.13M$440.39M$352.21M$295.89M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow$101.00M$62.57M$113.77M$74.89M-$250.93M$302.87M$259.14M$265.65M$222.93M$161.53M
Capital expenditures$358.92M$319.07M$255.07M$188.99M$160.10M$120.45M$67.05M$56.63M$146.49M$173.23M
Free cash flow-$257.92M-$256.50M-$141.30M-$114.09M-$411.04M$182.42M$192.10M$209.02M$76.44M-$11.71M
Investing cash flow-$294.66M-$339.41M-$236.69M-$184.18M$1.78B-$155.59M-$165.33M-$187.80M-$151.50M-$820.01M
Financing cash flow$195.60M$183.86M$218.11M$69.00M-$1.64B-$53.53M-$77.25M-$71.35M-$29.04M$617.87M
Dividends paid$6.45M$5.80M$4.52M$3.99M$940.26M$16.42M$13.94M$12.86M$12.26M$11.71M
Share repurchases----$0$0$7.23M$0$0$5.10M
Stock-based compensation$9.59M$9.84M$10.03M$8.53M$3.41M$5.91M$3.37M$4.75M$3.58M$3.02M
Depreciation and amortization$129.68M$96.91M$62.88M$65.76M$55.21M$48.70M$46.79M$44.39M$177.01M$143.69M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY9.1%21.9%8.1%1.5%11.1%6.7%7.4%-68.5%14.3%56.3%
Net income growth, YoY-2311.3%--694.8%126.4%19.1%-29.8%--
EPS growth, YoY-2112.5%--693.6%126.1%19.4%-30.1%--
Gross margin--------65.4%63.8%
Operating margin-6.5%-8.7%0.1%-7.0%-1.0%-1.2%-0.6%-1.5%7.6%4.2%
Net margin-9.2%59.1%3.0%-3.4%407.3%56.9%26.8%24.2%10.8%-0.2%
Free cash flow margin-72.1%-78.2%-52.5%-45.8%-167.6%82.6%92.9%108.5%12.5%-2.2%
Return on equity-3.7%21.1%1.2%-1.3%155.5%21.8%11.9%10.6%18.8%-0.3%
Return on assets-1.7%11.1%0.7%-0.9%112.1%6.2%2.9%3.1%4.7%-0.1%
Current ratio0.900.821.791.332.471.161.572.371.260.98
Debt to equity0.710.450.460.120.001.191.541.752.332.80

Source: XBRL data Shenandoah Telecommunications Co files with the SEC, latest filing dated Oct 28, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures and share counts are restated for stock splits the filings show: 2-for-1, first reported Feb 26, 2016.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

SHEN peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
SHEN$371.14M+5.5%-$38.00M-10.2%$565.3M
VZ$139.39B+1.4%$16.42B11.8%$190.90B
TMUS$93.82B+9.3%$11.30B12.0%$178.71B
T$128.85B+3.5%$13.13B10.2%$146.82B
GLW$17.72B+18.8%$2.24B12.6%$99.88B
AMXMXN 943.64B+8.6%MXN 82.82B8.8%$78.39B
LITE$3.74B+103.2%-$6.58B-175.8%$54.07B
CIEN$6.02B+32.6%$654.41M10.9%$38.19B
CHTNT$236.11B+2.7%NT$38.70B16.4%$37.90B

SHEN FAQ

8 questions
  • What is SHEN revenue?
    Shenandoah Telecommunications Co (SHEN) reported $371.14M of revenue for the twelve months ended Sep 30, 2026. That is up 5.5% from the year before. Revenue for fiscal 2025 was $357.85M.
  • Is SHEN profitable?
    No. Shenandoah Telecommunications Co reported a net loss of $38.00M for the twelve months ended Sep 30, 2026.
  • How much cash and debt does SHEN have?
    Shenandoah Telecommunications Co reported $18.65M in cash and cash equivalents and $747.09M of debt on its most recent balance sheet in SEC filings.
  • How fast is SHEN revenue growing?
    Shenandoah Telecommunications Co's revenue changed +9.1% in fiscal 2025, to $357.85M. Its compound annual growth rate was +10.1% over 5 years and +0.4% over 10 years.
  • What is SHEN free cash flow?
    Shenandoah Telecommunications Co generated -$216.95M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $105.44M less capital expenditures.
  • What is SHEN earnings per share?
    Diluted earnings per share were -$0.80 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did SHEN last report financial results?
    The latest statements here come from Shenandoah Telecommunications Co's 10-Q filed on Oct 28, 2026, covering the period ended Sep 30, 2026.
  • Where does this SHEN financial data come from?
    Quantisnow builds these statements from the structured XBRL data Shenandoah Telecommunications Co files with the SEC. It is provided for information only and is not investment advice.