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Shenandoah Telecommunications Co. (SHEN)

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Shenandoah Telecommunications Co. (SHEN) reported revenue of $93 million for Q2 FY2026, the quarter ended 30 June 2026, up 5.5% on the same quarter a year earlier. Net income was -$8 million, and diluted earnings per share $-0.17. The figures are the company's own, from the 10-Q it filed with the SEC on 29 July 2026.

Revenue$93 millionup 5.5%
Net income-$8 million
Diluted EPS$-0.17
QuarterQ2 FY2026ended 30 June 2026

Shenandoah Telecommunications (SHEN) in brief

Shenandoah Telecommunications (SHEN) reported revenue of $358 million for fiscal 2025, the year ended 31 December 2025, up 9.1% on the year before.
Read moreNet loss was $33 million and the diluted loss per share $0.71. Revenue was $328 million in fiscal 2024, $269 million in fiscal 2023, $249 million in fiscal 2022 and $245 million in fiscal 2021. Net income in the same years was $194 million, $8 million, a loss of $8 million and $999 million. Over the twelve months to 30 June 2026, Shenandoah Telecommunications reported revenue of $367 million and net loss of $40 million. Revenue grew 10.1% a year, compounded, over the five years to fiscal 2025. Shenandoah Telecommunications declared $0.11 a share in dividends over the last four quarters and had 55 million shares outstanding at the latest filed count. At 30 June 2026 it carried $728 million of debt and $24 million of cash. At the close of 9 October 2026 the market cap of Shenandoah Telecommunications was $576 million.

Ratios

From the filings

ROE-4.6%
ROCE-1.2%
Operating margin-5.3%
Net margin-10.8%
FCF margin-61.9%
Interest cover-0.58
Debt to equity0.85
Cash conversionn/a
Share count, 1 year0.9%
Sales CAGR, 3 years12.9%
Profit CAGR, 3 yearsn/a
EPS, TTM-$0.78

At the close of 9 October 2026

Price$10.40
Market cap$576 million
Stock P/En/a
Price to book0.67
EV / EBITDA11.44
Dividend yield1.1%
Market cap / sales1.57
52-week high$17.10
52-week low$9.90
Price, 1 year-20.6%
Price CAGR, 3 years-22.3%
Price CAGR, 5 years-19.9%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on long-term debt as Shenandoah Telecommunications Co. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
SHENgreeksoup.ai
Daily prices to 9 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on SHEN

Filings18 in twelve months: 10 current reports (8-K), about 4 results of operations; 3 officer or director change; 2 regulation FD disclosure; 1 shareholder vote; 1 material agreement
Planned insider salesno Form 144 notice in twelve months
Options tapeput/call 0.14 by open interest at the 9 October 2026 close; the straddle prices a 14.6% move to 16 October 2026
13F holders7 of the followed funds hold it; largest Southeastern Asset Management; 8 Schedule 13D or 13G filings in twelve months
Insider trading0 sales and 3 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest2.6 million shares short, 1.67 days to cover at 30 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023 †Q4 FY2023 *Q1 FY2024 †Q2 FY2024Q3 FY2024Q4 FY2024 * †Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue67.472.569.285.887.685.487.988.689.891.692.293.5
Cost of revenue26.325.726.034.534.433.233.032.632.432.131.832.7
Gross profit41.146.843.351.353.252.254.955.957.459.560.360.8
Gross margin61%65%62%60%61%61%62%63%64%65%65%65%
SG&A23.026.928.030.228.029.031.029.729.827.733.431.0
Operating income-0.63.0-2.8-15.9-4.2-5.8-6.1-9.1-7.2-0.9-10.5-1.0
Operating margin-1%4%-4%-19%-5%-7%-7%-10%-8%-1%-11%-1%
Interest expense1.21.74.14.03.74.24.96.06.87.79.49.7
Pre-tax income0.22.3-5.1-18.0-6.8-8.1-10.3-12.1-12.4-7.1-19.9-10.2
Tax rate185%-12%n/an/an/an/an/an/an/an/an/an/a
Net income1.62.6215-12.9-6.9-2.7-9.1-9.0-10.9-5.4-15.8-7.7
Net margin2%4%310%-15%-8%-3%-10%-10%-12%-6%-17%-8%
Diluted EPS$0.03$0.05$4.21-$0.24-$0.13-$0.05-$0.19-$0.19-$0.20-$0.10-$0.31-$0.17
Operating cash flow21.922.115.22.524.320.620.520.930.728.824.424.4
Capital expenditure54.266.270.180.975.592.683.286.282.110775.870.4
Free cash flow-32.3-44.1-54.9-78.3-51.3-72.0-62.7-65.2-51.4-78.6-51.5-45.9
Shares outstanding50m50m50m55m55m55m55m55m55m55m55m55m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014FY2015 †FY2016FY2017 †FY2018 †FY2019 †FY2020 †FY2021FY2022 †FY2023 †FY2024 †FY2025TTM
Revenue327342535612193207221245249269328358367
Cost of revenue13012119421280.483.689.7102102101128130129
Gross profit197221342400112123131143147168200228238
Gross margin60.3%64.6%63.8%65.4%58.3%59.6%59.4%58.3%58.9%62.5%60.9%63.6%64.9%
Selling, general and administrative69.472.813316670.877.885.082.591.199.3115118122
Operating income61.974.122.546.5-3.0-1.3-2.6-2.4-17.50.1-28.6-23.2-19.5
Operating margin18.9%21.6%4.2%7.6%-1.5%-0.6%-1.2%-1.0%-7.0%0.1%-8.7%-6.5%-5.3%
Interest expense8.17.425.138.234.829.5n/a2.61.64.215.925.433.6
Pre-tax income56.068.61.913.30.71.90.66.2-18.81.5-38.0-41.9-49.6
Income tax22.227.72.8-53.1-1.30.0-1.0-1.7-3.40.5-9.7-8.9-11.4
Effective tax rate39.5%40.4%146.0%-400.8%-183.0%0.3%-168.9%-27.2%n/a33.0%n/an/an/a
Net income33.940.9-0.966.446.655.5126999-8.48.0194-32.9-39.7
Net margin10.4%11.9%-0.2%10.8%24.2%26.8%56.9%407.3%-3.4%3.0%59.1%-9.2%-10.8%
Diluted EPS$0.69$0.83-$0.02$1.33$0.93$1.11$2.51$19.92-$0.17$0.16$3.54-$0.71-$0.78
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by product or service

FY2023Share
latest year
Residential And SMB - Incumbent Broadband Markets17564.3%
Commercial Fiber44.316.3%
Residential And SMB - Glo Fiber Expansion Markets35.112.9%
RLEC & Other15.05.5%
Income from leasing arrangements (ASC 842)2.61.0%
Residential And SMB - Incumbent Broadband MarketsCommercial FiberResidential And SMB - Glo Fiber Expansion MarketsRLEC & OtherIncome from leasing arrangements (ASC 842)
272FY2023

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2014FY2015 †FY2016FY2017 †FY2018 †FY2019 †FY2020 †FY2021FY2022 †FY2023 †FY2024 †FY2025TTM
Operating cash flow115119162223266259303-25174.911462.6101108
Capital expenditure68.269.717314656.667.0120160189255319359336
Free cash flow46.849.6-11.776.4209192182-411-114-141-257-258-227
Free cash flow margin14.3%14.5%-2.2%12.5%108.5%92.9%82.6%-167.6%-45.8%-52.5%-78.2%-72.1%-61.9%
Cash from investing-67.6-69.3-820-151-188-165-1561,784-184-237-339-295-268
Cash from financing-16.8-42.2618-29.0-71.3-77.2-53.5-1,64469.0218184196185
Depreciation and amortisation65.970.714417744.446.848.755.265.862.996.9130132
Share-based compensation2.62.33.03.64.73.45.93.48.510.09.89.611.1
Buybacks1.81.95.10.00.07.20.00.0n/an/an/an/an/a
Dividends paid10.811.111.712.312.913.916.49404.04.55.86.4n/a
Dividend per share$0.23$0.24$0.25$0.26$0.27$0.29$0.34$18.82$0.08$0.09$0.10$0.11n/a
Diluted shares, weighted49m49m49m50m50m50m50m50m50m51m54m55m56m
Shares outstanding at period end48m48m49m49m50m50m50m50m50m50m55m55m55m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014FY2015 †FY2016FY2017 †FY2018 †FY2019 †FY2020 †FY2021FY2022 †FY2023 †FY2024 †FY2025TTM
Funded by
Shareholders' equity258290296352440468577642638653919881860
Redeemable equityn/an/an/an/an/an/an/a0.00.00.082.588.591.7
Debt2242018488367857326980.075.0300418642728
Operating lease liabilitiesn/an/an/an/a0.042.646.151.750.57.210.810.610.1
Finance lease liabilitiesn/an/an/an/a0.01.61.51.61.51.41.6n/an/a
Other liabilities137136341223259655702195213253309288285
Total liabilities and equity6196271,4841,4121,4851,8992,0248919781,2141,7401,9111,975
Owned
Fixed assets4064106986867013634405546888501,4391,6021,671
Goodwilln/a0.0145146146149n/an/an/an/a67.167.567.5
Intangible assets68.367.045538136688.210789.881.581.190.789.488.6
Investments10.110.710.311.510.812.413.813.713.013.215.716.516.3
Cash and equivalents68.976.836.278.685.110219584.344.113946.327.323.9
Receivables30.429.869.854.254.463.570.422.020.619.829.731.520.5
Inventory8.84.239.05.75.35.7n/an/an/an/an/an/an/a
Other assets26.928.731.248.11151,1151,19812713111152.377.086.6
Total assets6196271,4841,4121,4851,8992,0248919781,2141,7401,9111,975
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded0.4%10.1%12.9%5.0%
Profit growth, compoundedn/an/an/an/a
Return on equity, average23.6%34.6%6.2%-3.7%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Shenandoah Telecommunications' revenue in fiscal 2025?

Shenandoah Telecommunications (SHEN) reported revenue of $358 million for fiscal 2025, the year ended 31 December 2025, up 9.1% on the year before.

How much did Shenandoah Telecommunications earn in fiscal 2025?

Net loss was $33 million for fiscal 2025, and the diluted loss per share $0.71.

What is Shenandoah Telecommunications' market cap?

The market cap of Shenandoah Telecommunications was $576 million at the close of 9 October 2026.

Does Shenandoah Telecommunications pay a dividend?

Yes. Shenandoah Telecommunications declared $0.11 a share in dividends over the four quarters to 30 June 2026.

How much debt does Shenandoah Telecommunications have?

At 30 June 2026 Shenandoah Telecommunications carried $728 million of debt and $24 million of cash.

Peers: Communication

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Verizon Communications Inc. VZ$173.0 billion10.8515.4%20.5%1.4%1.366.6%
AT&T Inc. T$151.9 billion7.3417.1%20.1%2.6%1.065.0%
Lumen Technologies, Inc. LUMN$5.4 billionn/an/a1.7%-7.7%n/a0.0%
Nexstar Media Group, Inc. NXST$5.0 billion30.968.3%17.8%10.5%5.184.6%
Versant Media Group, Inc. VSNT$4.3 billion3.7714.4%25.5%n/a0.36n/a
Telephone & Data Systems Inc. TDS$3.9 billionn/an/an/an/a0.130.5%
Adeia Inc. ADEA$2.6 billion22.1325.7%41.6%24.3%0.810.8%
Calix, Inc. CALX$2.3 billion50.317.2%5.5%27.8%0.000.0%
Ziff Davis, Inc. ZD$2.0 billion3.2028.8%5.5%-8.5%0.390.0%
Uniti Group Inc. UNIT$1.6 billion2.54666.9%3.2%n/a65.860.0%
Shenandoah Telecommunications Co. SHEN$576 millionn/a-4.6%-5.3%5.0%0.851.1%
Cogent Communications Holdings, Inc. CCOI$437 millionn/an/a8.0%-4.5%n/a35.7%
All 26 in Communication
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Verizon Communications Inc. VZ$173.0 billion10.8515.4%20.5%1.4%1.366.6%
T-Mobile US, Inc. TMUS$159.7 billion15.5618.8%19.8%9.7%1.502.6%
AT&T Inc. T$151.9 billion7.3417.1%20.1%2.6%1.065.0%
Spotify Technology S.A. SPOT *$108.9 billion44.7226.6%12.8%9.7%0.18n/a
Warner Bros. Discovery, Inc. WBD$77.6 billionn/a-9.6%-3.5%-6.1%0.98n/a
Comcast Corp. CMCSA$73.7 billion6.6812.5%14.7%0.6%0.946.4%
Vodafone Group Public Limited Company VOD *$35.9 billionn/a-0.8%7.0%8.0%1.043.5%
Chunghwa Telecom Co. Ltd. CHT *$35.7 billion29.5610.1%20.6%2.7%0.073.5%
EchoStar Corp. ECHO$33.4 billionn/a-40.1%-112.7%-5.2%1.13n/a
Fox Corp. FOXA$27.4 billion16.2614.5%n/a5.1%0.57n/a
Fox Corp. FOX$24.5 billion14.5614.5%n/a5.1%0.57n/a
Roku, Inc. ROKU$22.6 billion65.3212.6%5.2%18.5%0.00n/a
Tencent Music Entertainment Group TME *$13.2 billionn/a13.8%40.6%15.8%0.042.1%
Charter Communications, Inc. CHTR$12.5 billion2.6829.0%23.3%-1.5%5.54n/a
Viasat Inc. VSAT$9.9 billionn/a-0.6%2.4%1.3%1.25n/a
Lumen Technologies, Inc. LUMN$5.4 billionn/an/a1.7%-7.7%n/a0.0%
Iridium Communications Inc. IRDM$5.0 billion53.9519.7%23.8%3.1%3.731.3%
Nexstar Media Group, Inc. NXST$5.0 billion30.968.3%17.8%10.5%5.184.6%
Versant Media Group, Inc. VSNT$4.3 billion3.7714.4%25.5%n/a0.36n/a
Telephone & Data Systems Inc. TDS$3.9 billionn/an/an/an/a0.130.5%
Adeia Inc. ADEA$2.6 billion22.1325.7%41.6%24.3%0.810.8%
Calix, Inc. CALX$2.3 billion50.317.2%5.5%27.8%0.000.0%
Ziff Davis, Inc. ZD$2.0 billion3.2028.8%5.5%-8.5%0.390.0%
Uniti Group Inc. UNIT$1.6 billion2.54666.9%3.2%n/a65.860.0%
Shenandoah Telecommunications Co. SHEN$576 millionn/a-4.6%-5.3%5.0%0.851.1%
Cogent Communications Holdings, Inc. CCOI$437 millionn/an/a8.0%-4.5%n/a35.7%
5 companies share its SEC industry code (Telephone Communications (No Radiotelephone)); the rest are the names nearest in size in its wider industry, Communication, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q/A30 June 202629 July 2026EDGAR
10-Q30 June 202629 July 2026EDGAR
10-Q31 March 20261 May 2026EDGAR
10-K31 December 202526 February 2026EDGAR
10-Q30 September 202529 October 2025EDGAR
10-Q30 June 202531 July 2025EDGAR
10-Q31 March 202530 April 2025EDGAR
10-K31 December 202420 February 2025EDGAR
10-Q30 September 20247 November 2024EDGAR
10-Q30 June 20247 August 2024EDGAR

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