What is Shenandoah Telecommunications's earnings per share (EPS)?

Shenandoah Telecommunications (SHEN) reported diluted earnings per share of -$0.71 for fiscal year 2025. This represents a -120.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Shenandoah Telecommunications (SHEN) Financials

SHEN

Trailing 12 months to March 31, 2026

Revenue $362.1M +4.4% YoY

Net Income -$39.6M -31.8% YoY

EPS (Diluted) -$0.83 -23.9% YoY

Free Cash Flow -$246.7M +6.7% YoY

Market Cap $694.8M as of Sep 4, 2026

Price / Sales 1.9x on $362.1M revenue, trailing 12 months to March 31, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to March 31, 2026

Price / Book 0.8x on $867.0M equity, Q1 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 4, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q1 FY2026, ended Mar 31, 2026 Reported May 1, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q1 FY2026, filed May 1, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SHEN SEC filings page.

Shenandoah Telecommunications (SHEN) reported $362.1M in revenue over the twelve months to Mar 31, 2026, up 4.4% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI SHEN FY2025 2026-08-29

Heavy infrastructure investment is enlarging the asset base faster than internally generated cash can fund it, increasing reliance on debt financing.

From FY2023 to FY2025, gross margin widened from 62.5% to 63.6%, but operating income remained negative in both years, so improved unit economics have not yet translated into company-level operating profit. Meanwhile, FY2025 operating cash flow was $101.0M while free cash flow was -$257.9M after investment spending, showing that internally generated cash is being absorbed by capital deployment.

FY2025 EBITDA was $106.4M, yet operating income was -$23.2M, indicating that the asset base imposes a large non-cash cost before operating profit is reported. Depreciation and amortization reached $129.7M, while interest expense added $25.4M of pressure below EBITDA.

Debt-to-equity rose from 0.4x in FY2023 to 0.7x in FY2025 as the asset base expanded, indicating that growth has been financed increasingly with liabilities. Current liquidity tightened: the current ratio fell from 1.8x to 0.9x over the same span, leaving short-term resources below current obligations by FY2025.

Financial Health Signals

Financial Health Score 28/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Shenandoah Telecommunications's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Shenandoah Telecommunications has an operating margin of -6.5%, meaning the company loses $6 on every $100 of revenue. This results in a profitability score of 29/100. This is up from -8.7% the prior year.

Growth

Shenandoah Telecommunications's revenue grew 9.1% year-over-year to $357.9M, a solid pace of expansion. This earns a growth score of 76/100.

Leverage

Shenandoah Telecommunications has elevated debt relative to equity (D/E of 0.71), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 10/100, reflecting increased financial risk.

Liquidity

Shenandoah Telecommunications's current ratio of 0.90 is below the typical benchmark, resulting in a score of 15/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

While Shenandoah Telecommunications generated $101.0M in operating cash flow, capex of $358.9M consumed most of it, leaving -$257.9M in free cash flow. This results in a low score of 4/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Shenandoah Telecommunications posts a -3.7% return on equity (ROE), meaning it loses $4 for every $100 of shareholders' equity. This results in a returns score of 34/100. This is down from 21.1% the prior year.

Altman Z-Score Distress

1.08

Shenandoah Telecommunications scores 1.08, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral

4/9

Shenandoah Telecommunications passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Mixed

N/A

Shenandoah Telecommunications reported a net loss of $32.9M while generating $101.0M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

Shenandoah Telecommunications reported an operating loss of $23.2M against $25.4M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

Revenue

$92.2M

YoY+4.8%

QoQ+0.6%

5Y CAGR+9.1%

10Y CAGR0.0%

Shenandoah Telecommunications generated $92.2M in revenue in Q1 2026. This represents an increase of 4.8% from the same quarter a year earlier. Against the prior quarter it is up 0.6%.

EBITDA

$24.1M

YoY+5.2%

QoQ-19.4%

5Y CAGR+9.2%

Shenandoah Telecommunications's EBITDA was $24.1M in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 5.2% from the same quarter a year earlier. Against the prior quarter it is down 19.4%.

Net Income

-$15.8M

YoY-72.5%

QoQ-569.4%

Shenandoah Telecommunications reported -$15.8M in net income in Q1 2026. This represents a decrease of 72.5% from the same quarter a year earlier. Against the prior quarter it is down 569.4%.

EPS (Diluted)

-$0.31

YoY-63.2%

Shenandoah Telecommunications earned -$0.31 per diluted share (EPS) in Q1 2026. This represents a decrease of 63.2% from the same quarter a year earlier.

Cash & Balance Sheet

Free Cash Flow

-$51.5M

YoY+18.0%

QoQ+34.5%

Shenandoah Telecommunications recorded an outflow of $51.5M in free cash flow in Q1 2026, representing a cash shortfall after capex. This represents an increase of 18.0% from the same quarter a year earlier. Against the prior quarter it is up 34.5%.

Cash & Debt

$43.8M

YoY-50.0%

QoQ+60.6%

5Y CAGR-28.2%

10Y CAGR-6.9%

Shenandoah Telecommunications held $43.8M in cash against $693.9M in long-term debt as of Q1 2026.

Shares Outstanding

55M

YoY+0.8%

5Y CAGR+2.1%

10Y CAGR+1.3%

Shenandoah Telecommunications had 55M shares outstanding in Q1 2026. This represents an increase of 0.8% from the same quarter a year earlier.

Dividends Per Share

Not reported for Q1 2026.

Margins & Returns

Gross Margin

65.5%

YoY+3.0pp

QoQ+0.5pp

Shenandoah Telecommunications's gross margin was 65.5% in Q1 2026, indicating the percentage of revenue retained after direct costs. This is up 3.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.5 percentage points.

Operating Margin

-11.4%

YoY-4.4pp

QoQ-10.4pp

5Y CAGR-15.1pp

10Y CAGR-34.4pp

Shenandoah Telecommunications's operating margin was -11.4% in Q1 2026, reflecting core business profitability. This is down 4.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 10.4 percentage points.

Net Margin

-17.1%

YoY-6.7pp

QoQ-14.5pp

5Y CAGR-103.2pp

10Y CAGR-32.1pp

Shenandoah Telecommunications's net profit margin was -17.1% in Q1 2026, showing the share of revenue converted to profit. This is down 6.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 14.5 percentage points.

Return on Equity

-1.8%

YoY-0.8pp

QoQ-1.6pp

5Y CAGR-10.0pp

10Y CAGR-6.4pp

Shenandoah Telecommunications's ROE was -1.8% in Q1 2026, measuring profit generated per dollar of shareholder equity. This is down 0.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.6 percentage points.

Capital Allocation

Capital Expenditures

$75.8M

YoY-8.9%

QoQ-29.4%

5Y CAGR+13.9%

10Y CAGR+14.0%

Shenandoah Telecommunications invested $75.8M in capex in Q1 2026, funding long-term assets and infrastructure. This represents a decrease of 8.9% from the same quarter a year earlier. Against the prior quarter it is down 29.4%.

R&D Spending

Not reported for Q1 2026.

Share Buybacks

Not reported for Q1 2026.

SHEN Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

SHEN quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$362.1M	$357.9M+9.1%	$328.1M+21.9%	$269.1M+8.1%	$248.9M+1.5%	$245.2M+11.1%	$220.8M+6.7%	$206.9M+7.4%	$192.7M-68.5%	$612.0M+14.3%	$535.3M+56.3%	$342.5M+4.8%	$326.9M+5.8%	$308.9M+7.2%	$288.1M+14.7%	$251.1M
Cost of Revenue	$128.9M	$130.1M+1.6%	$128.1M+27.0%	$100.8M-1.4%	$102.3M0.0%	$102.3M+14.1%	$89.7M+7.3%	$83.6M+3.9%	$80.4M-62.0%	$211.5M+9.3%	$193.5M+59.5%	$121.3M-6.5%	$129.7M+3.7%	$125.1M+6.6%	$117.4M+10.1%	$106.6M
Gross Profit	$233.2M	$227.7M+13.9%	$199.9M+18.8%	$168.3M+14.8%	$146.6M+2.6%	$142.9M+9.0%	$131.1M+6.3%	$123.3M+9.8%	$112.3M-72.0%	$400.5M+17.2%	$341.8M+54.5%	$221.2M+12.1%	$197.2M+7.3%	$183.8M+7.7%	$170.7M+18.1%	$144.5M
SG&A Expenses	$120.6M	$118.2M+2.6%	$115.2M+16.0%	$99.3M+9.0%	$91.1M+10.5%	$82.5M-3.0%	$85.0M+9.2%	$77.8M+9.9%	$70.8M-57.3%	$165.9M+24.5%	$133.3M+83.1%	$72.8M+5.0%	$69.4M+2.5%	$67.7M+11.6%	$60.6M+7.4%	$56.4M
Operating Income	-$27.6M	-$23.2M+18.7%	-$28.6M-20234.5%	$142K+100.8%	-$17.5M-618.4%	-$2.4M+6.6%	-$2.6M-93.8%	-$1.3M+54.8%	-$3.0M-106.4%	$46.5M+106.5%	$22.5M-69.6%	$74.1M+19.6%	$61.9M+11.8%	$55.4M+59.9%	$34.7M+7.3%	$32.3M
EBITDA	N/A	$106.4M+55.8%	$68.3M+8.4%	$63.0M+30.5%	$48.3M-8.5%	$52.8M+14.5%	$46.1M+1.4%	$45.4M+9.7%	$41.4M-81.5%	$223.5M+34.5%	$166.2M+14.8%	$144.8M+13.3%	$127.8M+10.1%	$116.1M+17.2%	$99.1M+12.5%	$88.1M
Interest Expense	$29.9M	$25.4M+59.6%	$15.9M+277.4%	$4.2M+167.1%	$1.6M-39.3%	$2.6M	N/A	$29.5M-15.4%	$34.8M-8.9%	$38.2M+52.3%	$25.1M+241.3%	$7.4M-9.7%	$8.1M-3.8%	$8.5M+7.9%	$7.8M-5.3%	$8.3M
Income Tax	-$11.9M	-$8.9M+7.8%	-$9.7M-2030.1%	$501K+114.7%	-$3.4M-100.7%	-$1.7M-71.1%	-$990K-16600.0%	$6K+100.4%	-$1.3M+97.5%	-$53.1M-1970.9%	$2.8M-89.8%	$27.7M+25.2%	$22.2M+11.4%	$19.9M+65.5%	$12.0M+12.6%	$10.7M
Net Income	-$39.6M	-$32.9M-117.0%	$193.8M+2311.3%	$8.0M+195.9%	-$8.4M-100.8%	$998.8M+694.8%	$125.7M+126.4%	$55.5M+19.1%	$46.6M-29.8%	$66.4M+7517.9%	-$895K-102.2%	$40.9M+20.6%	$33.9M+14.5%	$29.6M+81.5%	$16.3M+25.5%	$13.0M
EPS (Basic)	N/A	-$0.71-120.1%	$3.54+2112.5%	$0.16+194.1%	-$0.17-100.9%	$19.97+692.5%	$2.52+127.0%	$1.11+18.1%	$0.94-30.4%	$1.35+6850.0%	-$0.02-102.4%	$0.84+20.0%	$0.70+12.9%	$0.62-8.8%	$0.68+23.6%	$0.55
EPS (Diluted)	-$0.83	-$0.71-120.1%	$3.54+2112.5%	$0.16+194.1%	-$0.17-100.9%	$19.92+693.6%	$2.51+126.1%	$1.11+19.4%	$0.93-30.1%	$1.33+6750.0%	-$0.02-102.4%	$0.83	$0.70+14.8%	$0.61	$0.68+23.6%	$0.55
Diluted Shares (Avg)	N/A	55M+2.6%	54M+5.9%	51M+1.1%	50M0.0%	50M+0.2%	50M-0.2%	50M+0.1%	50M+0.1%	50M+2.5%	49M-0.4%	49M	49M+1.0%	48M	24M+0.8%	24M

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Revenue	$92.2M+4.8%	$91.6M+7.2%	$89.8M+2.5%	$88.6M+3.2%	$87.9M+26.9%	$85.4M+25.8%	$87.6M+30.0%	$85.8M+28.7%
Cost of Revenue	$31.8M-3.7%	$32.1M-3.3%	$32.4M-5.9%	$32.6M-5.5%	$33.0M+27.1%	$33.2M+36.0%	$34.4M+31.0%	$34.5M+39.5%
Gross Profit	$60.3M+10.0%	$59.5M+13.9%	$57.4M+7.9%	$55.9M+9.1%	$54.9M+26.8%	$52.2M+20.1%	$53.2M+29.3%	$51.3M+22.4%
SG&A Expenses	$33.4M+7.7%	$27.7M-4.5%	$29.8M+6.4%	$29.7M-1.6%	$31.0M+10.8%	$29.0M+15.2%	$28.0M+22.0%	$30.2M+20.8%
Operating Income	-$10.5M-71.8%	-$873K+84.8%	-$7.2M-71.6%	-$9.1M+42.7%	-$6.1M-119.5%	-$5.8M-1120.2%	-$4.2M-584.6%	-$15.9M-13361.9%
EBITDA	$24.1M+5.2%	$29.9M+45.2%	$27.5M+17.0%	$26.2M+170.0%	$22.9M+57.4%	$20.6M+26.8%	$23.5M+51.5%	$9.7M-38.3%
Interest Expense	$9.4M+92.9%	$7.7M+85.0%	$6.8M+85.1%	$6.0M+50.2%	$4.9M+20.0%	$4.2M+142.1%	$3.7M+206.2%	$4.0M+341.5%
Income Tax	-$4.1M-267.1%	-$1.8M+6.8%	-$3.0M-92.9%	-$3.0M+41.4%	-$1.1M-9.1%	-$1.9M+6.7%	-$1.5M-486.5%	-$5.2M-456.4%
Net Income	-$15.8M-72.5%	-$2.4M-112.7%	-$10.9M-58.1%	-$10.5M+18.1%	-$9.1M-104.3%	-$1.1M-142.7%	-$6.9M-533.2%	-$12.9M-819.1%
EPS (Basic)	-$0.31-63.2%	-$0.13-18.2%	-$0.20-53.8%	-$0.19+20.8%	-$0.19-104.5%	-$0.11-320.0%	-$0.13-533.3%	-$0.24-700.0%
EPS (Diluted)	-$0.31-63.2%	-$0.13	-$0.20-53.8%	-$0.19+20.8%	-$0.19-104.5%	-$0.11	-$0.13-533.3%	-$0.24-700.0%
Diluted Shares (Avg)	56M+1.1%	N/A	55M+0.7%	55M+0.7%	55M+8.8%	N/A	55M+8.7%	55M+8.7%

Not reported in any period shown, so not listed: R&D Expenses.

SHEN Balance Sheet

SHEN quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$1.9B+9.8%	$1.7B+43.3%	$1.2B+24.2%	$977.7M+9.8%	$890.7M-56.0%	$2.0B+6.6%	$1.9B+27.9%	$1.5B+5.2%	$1.4B-4.9%	$1.5B+136.7%	$627.2M+1.3%	$619.2M+3.7%	$597.0M+4.6%	$570.7M+18.9%	$480.0M
Current Assets	$97.4M+3.1%	$94.5M-46.3%	$176.1M+37.0%	$128.6M-22.7%	$166.4M-88.2%	$1.4B+481.6%	$241.9M+15.1%	$210.2M+21.6%	$172.9M+7.1%	$161.5M+26.2%	$127.9M-0.3%	$128.3M+31.0%	$98.0M-15.9%	$116.4M+80.6%	$64.5M
Cash & Equivalents	$27.3M-41.1%	$46.3M-66.8%	$139.3M+216.1%	$44.1M-47.8%	$84.3M-56.8%	$195.4M+92.2%	$101.7M+19.5%	$85.1M+8.3%	$78.6M+117.1%	$36.2M-52.9%	$76.8M+11.5%	$68.9M+79.9%	$38.3M-46.1%	$71.1M+347.8%	$15.9M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	$5.7M+8.8%	$5.3M-7.7%	$5.7M-85.4%	$39.0M+833.4%	$4.2M-52.4%	$8.8M-17.9%	$10.7M+9.5%	$9.8M+31.1%	$7.5M
Accounts Receivable	$31.5M+6.0%	$29.7M+50.2%	$19.8M-4.0%	$20.6M-6.3%	$22.0M-68.7%	$70.4M+10.6%	$63.6M+17.0%	$54.4M+0.4%	$54.2M-22.4%	$69.8M+134.4%	$29.8M-2.0%	$30.4M+17.6%	$25.8M+2.2%	$25.3M+17.6%	$21.5M
Long-Term Investments	$16.5M+5.1%	$15.7M+19.0%	$13.2M+1.8%	$13.0M-5.1%	$13.7M-0.8%	$13.8M+11.1%	$12.4M+14.8%	$10.8M-6.0%	$11.5M+55.7%	$7.4M-8.2%	$8.0M+8.0%	$7.4M+9.2%	$6.8M+10.6%	$6.2M+0.1%	$6.1M
Goodwill	$67.5M+0.7%	$67.1M	N/A	N/A	N/A	N/A	$149.1M+1.8%	$146.5M0.0%	$146.5M+0.9%	$145.3M+1452460.0%	$10K	N/A	$10K0.0%	$10K-99.9%	$11.0M
Total Liabilities	$1.0B+25.3%	$821.7M+46.3%	$561.6M+65.3%	$339.7M+36.7%	$248.5M-82.8%	$1.4B+1.2%	$1.4B+37.0%	$1.0B-1.4%	$1.1B-10.8%	$1.2B+252.5%	$337.2M-6.6%	$360.9M-0.5%	$362.7M-0.1%	$362.9M+28.5%	$282.3M
Current Liabilities	$108.5M-5.3%	$114.6M+16.5%	$98.4M+2.0%	$96.4M+43.3%	$67.3M-94.4%	$1.2B+686.6%	$153.6M+73.5%	$88.5M-35.6%	$137.6M-16.2%	$164.3M+170.5%	$60.7M+2.7%	$59.2M+34.5%	$44.0M-24.3%	$58.1M+4.6%	$55.6M
Non-Current Liabilities	$921.5M+30.3%	$707.1M+52.7%	$463.2M+90.4%	$243.3M+34.3%	$181.2M-24.3%	$239.3M-81.3%	$1.3B+33.6%	$955.8M+3.7%	$922.1M-10.0%	$1.0B+931.3%	$99.3M-1.2%	$100.5M+6.4%	$94.4M+26.3%	$74.8M+9.8%	$68.1M
Long-Term Debt	$628.2M+54.1%	$407.7M+39.2%	$292.8M+294.1%	$74.3M	$0	$0-100.0%	$688.5M-8.2%	$749.6M-1.0%	$757.6M-5.0%	$797.2M+350.0%	$177.2M-12.0%	$201.3M-10.3%	$224.3M-2.5%	$230.0M+45.0%	$158.7M
Total Equity	$880.8M-4.1%	$918.6M+40.7%	$652.7M+2.3%	$638.0M-0.7%	$642.3M+11.3%	$577.1M+23.3%	$468.1M+6.3%	$440.4M+25.0%	$352.2M+19.0%	$295.9M+2.1%	$289.9M+12.2%	$258.3M+10.3%	$234.3M+12.7%	$207.8M+5.2%	$197.7M
Retained Earnings	$723.6M-5.9%	$769.0M+31.7%	$584.1M+0.6%	$580.6M-2.1%	$592.9M+10.9%	$534.4M+25.5%	$425.7M+10.7%	$384.7M+29.4%	$297.2M+22.0%	$243.6M-5.1%	$256.7M+12.8%	$227.5M+11.0%	$205.0M+11.4%	$184.0M+4.8%	$175.6M

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Total Assets	$2.0B+7.0%	$1.9B+9.8%	$1.9B+9.2%	$1.8B+9.6%	$1.8B+26.2%	$1.7B+43.3%	$1.7B+60.1%	$1.7B+61.2%
Current Assets	$114.2M-15.1%	$97.4M+3.1%	$68.0M-30.3%	$83.4M-16.2%	$134.5M-68.4%	$94.5M-46.3%	$97.5M+31.0%	$99.5M+26.1%
Cash & Equivalents	$43.8M-50.0%	$27.3M-41.1%	$22.6M-47.5%	$29.1M-33.6%	$87.5M-77.5%	$46.3M-66.8%	$43.1M+19.8%	$43.8M+66.4%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$24.8M-16.8%	$31.5M+6.0%	$25.3M-22.2%	$34.6M+16.6%	$29.7M+63.2%	$29.7M+50.2%	$32.5M+72.5%	$29.6M+93.2%
Long-Term Investments	$16.1M+3.7%	$16.5M+5.1%	$16.3M+6.3%	$16.0M+5.5%	$15.5M+15.9%	$15.7M+19.0%	$15.4M+19.0%	$15.1M+16.3%
Goodwill	$67.5M	$67.5M+0.7%	N/A	N/A	N/A	$67.1M	N/A	N/A
Total Liabilities	$1.1B+18.7%	$1.0B+25.3%	$957.7M+24.5%	$912.7M+26.2%	$915.0M+59.3%	$821.7M+46.3%	$769.5M+90.3%	$723.3M+91.3%
Current Liabilities	$101.6M-9.3%	$108.5M-5.3%	$135.4M+10.0%	$114.9M+2.5%	$112.0M+23.0%	$114.6M+16.5%	$123.1M+45.9%	$112.1M+37.0%
Non-Current Liabilities	$984.4M+22.6%	$921.5M+30.3%	$822.3M+27.2%	$797.8M+30.5%	$803.0M+66.2%	$707.1M+52.7%	$646.3M+102.0%	$611.2M+106.3%
Long-Term Debt	$693.9M+37.6%	$628.2M+54.1%	$524.0M+56.0%	$501.6M+73.8%	$504.2M+73.4%	$407.7M+39.2%	$335.9M+127.8%	$288.6M+133.1%
Total Equity	$867.0M-4.8%	$880.8M-4.1%	$892.7M-3.5%	$902.0M-3.3%	$910.5M+4.5%	$918.6M+40.7%	$925.4M+41.4%	$933.1M+43.7%
Retained Earnings	$706.2M-6.9%	$723.6M-5.9%	$736.9M-5.4%	$747.8M-4.8%	$758.4M-5.1%	$769.0M+31.7%	$779.0M+32.9%	$785.9M+34.5%

Not reported in any period shown, so not listed: Inventory.

SHEN Cash Flow Statement

SHEN quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$104.8M	$101.0M+61.4%	$62.6M-45.0%	$113.8M+51.9%	$74.9M+129.8%	-$250.9M-182.9%	$302.9M+16.9%	$259.1M-2.4%	$265.6M+19.2%	$222.9M+38.0%	$161.5M+35.4%	$119.3M+3.8%	$115.0M+22.0%	$94.3M-2.8%	$97.0M+19.8%	$80.9M
Depreciation & Amortization	N/A	$129.7M+33.8%	$96.9M+54.1%	$62.9M-4.4%	$65.8M+19.1%	$55.2M+13.4%	$48.7M+4.1%	$46.8M+5.4%	$44.4M-74.9%	$177.0M+23.2%	$143.7M+103.2%	$70.7M+7.3%	$65.9M+8.5%	$60.7M-5.7%	$64.4M+15.5%	$55.8M
Stock-Based Compensation	N/A	$9.6M-2.5%	$9.8M-2.0%	$10.0M+17.6%	$8.5M+150.2%	$3.4M-42.3%	$5.9M+75.4%	$3.4M-29.0%	$4.7M+32.5%	$3.6M+18.5%	$3.0M+29.5%	$2.3M-11.1%	$2.6M+35.4%	$1.9M+5.2%	$1.8M+7.2%	$1.7M
Capital Expenditures	$351.5M	$358.9M+12.5%	$319.1M+25.1%	$255.1M+35.0%	$189.0M+18.0%	$160.1M+32.9%	$120.5M+79.6%	$67.0M+18.4%	$56.6M-61.3%	$146.5M-15.4%	$173.2M+148.6%	$69.7M+2.1%	$68.2M-41.7%	$117.0M+31.4%	$89.1M+19.3%	$74.7M
Free Cash Flow	-$246.7M	-$257.9M-0.6%	-$256.5M-81.5%	-$141.3M-23.8%	-$114.1M+72.2%	-$411.0M-325.3%	$182.4M-5.0%	$192.1M-8.1%	$209.0M+173.4%	$76.4M+753.1%	-$11.7M-123.6%	$49.6M+6.2%	$46.8M+305.4%	-$22.8M-387.4%	$7.9M+26.5%	$6.3M
Investing Cash Flow	-$282.5M	-$294.7M+13.2%	-$339.4M-43.4%	-$236.7M-28.5%	-$184.2M-110.3%	$1.8B+1246.8%	-$155.6M+5.9%	-$165.3M+12.0%	-$187.8M-24.0%	-$151.5M+81.5%	-$820.0M-1083.9%	-$69.3M-2.4%	-$67.6M+42.0%	-$116.6M-38.9%	-$83.9M-18.8%	-$70.6M
Financing Cash Flow	$161.2M	$195.6M+6.4%	$183.9M-15.7%	$218.1M+216.1%	$69.0M+104.2%	-$1.6B-2971.9%	-$53.5M+30.7%	-$77.2M-8.3%	-$71.3M-145.7%	-$29.0M-104.7%	$617.9M+1565.4%	-$42.2M-151.7%	-$16.8M-60.0%	-$10.5M-124.8%	$42.2M+292.6%	-$21.9M
Dividends Paid	N/A	$6.4M+11.0%	$5.8M+28.3%	$4.5M+13.3%	$4.0M-99.6%	$940.3M+5624.9%	$16.4M+17.8%	$13.9M+8.4%	$12.9M+4.9%	$12.3M+4.7%	$11.7M+5.6%	$11.1M+3.0%	$10.8M+31.4%	$8.2M+10.6%	$7.4M+1.1%	$7.3M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	$0	$0-100.0%	$7.2M	$0	$0-100.0%	$5.1M+170.4%	$1.9M+5.6%	$1.8M+11.6%	$1.6M+1018.9%	$143K+55.4%	$92K

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Operating Cash Flow	$24.4M+18.7%	$28.8M+39.8%	$30.7M+26.6%	$20.9M+724.3%	$20.5M+35.4%	$20.6M-6.7%	$24.3M+10.9%	$2.5M-88.2%
Depreciation & Amortization	$34.5M+19.2%	$32.1M+17.6%	$34.7M+25.3%	$35.3M+37.9%	$29.0M+67.3%	$27.3M+72.2%	$27.7M+71.7%	$25.6M+61.6%
Stock-Based Compensation	$4.8M+29.1%	N/A	$2.1M+49.3%	$2.2M-3.7%	$3.7M-6.3%	N/A	$1.4M-32.3%	$2.3M-12.8%
Capital Expenditures	$75.8M-8.9%	$107.4M+15.9%	$82.1M+8.7%	$86.2M+6.6%	$83.2M+18.8%	$92.6M+40.9%	$75.5M+39.7%	$80.9M+19.3%
Free Cash Flow	-$51.5M+18.0%	-$78.6M-9.1%	-$51.4M-0.2%	-$65.3M+16.7%	-$62.7M-14.2%	-$72.0M-65.0%	-$51.3M-59.2%	-$78.3M-69.1%
Investing Cash Flow	-$64.1M+15.9%	-$84.7M-0.5%	-$58.0M+19.4%	-$75.6M+82.1%	-$76.3M-132.0%	-$84.3M-31.3%	-$72.0M-95.4%	-$421.6M-519.3%
Financing Cash Flow	$62.6M-35.5%	$81.5M+21.9%	$20.8M-55.7%	-$3.8M-105.2%	$97.0M+3168.0%	$66.9M-54.0%	$47.0M+91.0%	$73.1M+198.3%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

SHEN Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

SHEN quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	63.6%+2.7pp	61.0%-1.6pp	62.5%+3.6pp	58.9%+0.6pp	58.3%-1.1pp	59.4%-0.2pp	59.6%+1.3pp	58.3%-7.2pp	65.4%+1.6pp	63.8%-0.7pp	64.6%+4.3pp	60.3%+0.8pp	59.5%+0.2pp	59.2%+1.7pp	57.5%
Operating Margin	-6.5%+2.2pp	-8.7%-8.8pp	0.1%+7.1pp	-7.0%-6.0pp	-1.0%+0.2pp	-1.2%-0.5pp	-0.7%+0.9pp	-1.5%-9.1pp	7.6%+3.4pp	4.2%-17.4pp	21.6%+2.7pp	18.9%+1.0pp	17.9%+5.9pp	12.0%-0.8pp	12.9%
Net Margin	-9.2%-68.3pp	59.1%+56.1pp	3.0%+6.4pp	-3.4%	407.3%	56.9%+30.1pp	26.8%+2.6pp	24.2%+13.3pp	10.8%+11.0pp	-0.2%-12.1pp	11.9%+1.6pp	10.4%+0.8pp	9.6%+3.9pp	5.7%+0.5pp	5.2%
Return on Equity	-3.7%-24.8pp	21.1%+19.9pp	1.2%+2.5pp	-1.3%-156.8pp	155.5%+133.7pp	21.8%+9.9pp	11.9%+1.3pp	10.6%-8.3pp	18.9%+19.1pp	-0.3%-14.4pp	14.1%+1.0pp	13.1%+0.5pp	12.6%+4.8pp	7.8%+1.3pp	6.6%
Return on Assets	-1.7%-12.9pp	11.1%+10.5pp	0.7%+1.5pp	-0.9%-113.0pp	112.1%+105.9pp	6.2%+3.3pp	2.9%-0.2pp	3.1%-1.6pp	4.7%+4.8pp	-0.1%-6.6pp	6.5%+1.0pp	5.5%+0.5pp	5.0%+2.1pp	2.9%+0.2pp	2.7%
Current Ratio	0.90+0.1x	0.82-1.0x	1.79+0.5x	1.33-1.1x	2.47+1.3x	1.16-0.4x	1.57-0.8x	2.37+1.1x	1.26+0.3x	0.98-1.1x	2.11-0.1x	2.17-0.1x	2.23+0.2x	2.00+0.8x	1.16
Debt-to-Equity	0.71+0.3x	0.440.0x	0.45+0.3x	0.12+0.1x	0.000.0x	0.00-1.5x	1.47-0.2x	1.70-0.4x	2.15-0.5x	2.69+2.1x	0.61-0.2x	0.78-0.2x	0.96-0.1x	1.11+0.3x	0.80
Asset Turnover	0.190.0x	0.190.0x	0.220.0x	0.250.0x	0.28+0.2x	0.110.0x	0.110.0x	0.13-0.3x	0.43+0.1x	0.36-0.2x	0.550.0x	0.530.0x	0.520.0x	0.500.0x	0.52
FCF Margin	-72.1%+6.1pp	-78.2%-25.7pp	-52.5%-6.7pp	-45.8%	-167.6%	82.6%-10.2pp	92.9%	108.5%	12.5%+14.7pp	-2.2%-16.7pp	14.5%+0.2pp	14.3%+21.7pp	-7.4%-10.1pp	2.8%+0.3pp	2.5%

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Gross Margin	65.5%+3.0pp	65.0%+3.8pp	63.9%+3.2pp	63.2%+3.4pp	62.4%-0.1pp	61.2%-2.9pp	60.7%-0.3pp	59.7%-3.1pp
Operating Margin	-11.4%-4.4pp	-0.9%+5.8pp	-8.0%-3.2pp	-10.3%+8.2pp	-6.9%-2.9pp	-6.7%-7.6pp	-4.8%-3.9pp	-18.5%-18.3pp
Net Margin	-17.1%-6.7pp	-2.6%-1.3pp	-12.2%-4.3pp	-11.9%+3.1pp	-10.4%	-1.3%-5.1pp	-7.9%-10.2pp	-15.0%-17.7pp
Return on Equity	-1.8%-0.8pp	-0.3%-0.1pp	-1.2%-0.5pp	-1.2%+0.2pp	-1.0%-25.6pp	-0.1%-0.5pp	-0.8%-1.0pp	-1.4%-1.7pp
Return on Assets	-0.8%-0.3pp	-0.1%-0.1pp	-0.6%-0.2pp	-0.6%+0.2pp	-0.5%-15.3pp	-0.1%-0.3pp	-0.4%-0.6pp	-0.8%-0.9pp
Current Ratio	1.12-0.1x	0.90+0.1x	0.50-0.3x	0.73-0.2x	1.20-3.5x	0.82-1.0x	0.79-0.1x	0.89-0.1x
Debt-to-Equity	0.80+0.2x	0.71+0.3x	0.59+0.2x	0.56+0.2x	0.55+0.2x	0.440.0x	0.36+0.1x	0.31+0.1x
Asset Turnover	0.050.0x	0.050.0x	0.050.0x	0.050.0x	0.050.0x	0.050.0x	0.050.0x	0.050.0x
FCF Margin	-55.8%+15.5pp	-85.8%-1.5pp	-57.2%+1.3pp	-73.7%+17.6pp	-71.4%+7.9pp	-84.3%-20.1pp	-58.5%-10.8pp	-91.3%-21.8pp

Note: The current ratio is below 1.0 (0.90), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Shenandoah Telecommunications SHEN	FY2025	$357.9M	-$32.9M	-9.2%	$694.8M	28/100
Cable One Inc CABO	FY2025	$1.5B	-$357.3M	-23.8%	$147.9M	33/100
Sify Technologie SIFY	FY2026	$474.0M	-$15.0M	-3.2%	$1.0B	25/100
Altice Usa ATUS	FY2025	$8.6B	-$1.8B	-21.3%	$841.0M	27/100
Liberty Latin America Ltd LILA	FY2025	$4.4B	-$611.2M	-13.8%	$1.7B	30/100
Liberty Latin America Ltd LILAK	FY2025	$4.4B	-$611.2M	-13.8%	$1.7B	30/100

Where Shenandoah Telecommunications Ranks

Frequently Asked Questions

What is Shenandoah Telecommunications's annual revenue?

Shenandoah Telecommunications (SHEN) reported $357.9M in total revenue for fiscal year 2025. This represents a 9.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Shenandoah Telecommunications's revenue growing?

Shenandoah Telecommunications (SHEN) revenue grew by 9.1% year-over-year, from $328.1M to $357.9M in fiscal year 2025.

Is Shenandoah Telecommunications profitable?

No, Shenandoah Telecommunications (SHEN) reported a net income of -$32.9M in fiscal year 2025, with a net profit margin of -9.2%.

What is Shenandoah Telecommunications's EBITDA?

Shenandoah Telecommunications (SHEN) had EBITDA of $106.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Shenandoah Telecommunications have?

As of fiscal year 2025, Shenandoah Telecommunications (SHEN) had $27.3M in cash and equivalents against $628.2M in long-term debt.

What is Shenandoah Telecommunications's gross margin?

Shenandoah Telecommunications (SHEN) had a gross margin of 63.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Shenandoah Telecommunications's operating margin?

Shenandoah Telecommunications (SHEN) had an operating margin of -6.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Shenandoah Telecommunications's net profit margin?

Shenandoah Telecommunications (SHEN) had a net profit margin of -9.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Shenandoah Telecommunications pay dividends?

Yes, Shenandoah Telecommunications (SHEN) paid $0.11 per share in dividends during fiscal year 2025.

What is Shenandoah Telecommunications's return on equity (ROE)?

Shenandoah Telecommunications (SHEN) has a return on equity of -3.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Shenandoah Telecommunications's free cash flow?

Shenandoah Telecommunications (SHEN) recorded an outflow of $257.9M in free cash flow during fiscal year 2025. This represents a -0.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Shenandoah Telecommunications's operating cash flow?

Shenandoah Telecommunications (SHEN) generated $101.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Shenandoah Telecommunications's total assets?

Shenandoah Telecommunications (SHEN) had $1.9B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Shenandoah Telecommunications's capital expenditures?

Shenandoah Telecommunications (SHEN) invested $358.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Shenandoah Telecommunications have outstanding?

Shenandoah Telecommunications (SHEN) had 55M shares outstanding as of fiscal year 2025.

What is Shenandoah Telecommunications's current ratio?

Shenandoah Telecommunications (SHEN) had a current ratio of 0.90 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Shenandoah Telecommunications's debt-to-equity ratio?

Shenandoah Telecommunications (SHEN) had a debt-to-equity ratio of 0.71 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Shenandoah Telecommunications's return on assets (ROA)?

Shenandoah Telecommunications (SHEN) had a return on assets of -1.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Shenandoah Telecommunications's P/E ratio?

Shenandoah Telecommunications (SHEN) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to March 31, 2026). The market capitalization is $694.8M as of Sep 4, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Shenandoah Telecommunications's price-to-sales ratio?

Shenandoah Telecommunications (SHEN) trades at 1.9x sales, its market capitalization divided by revenue of $362.1M revenue, trailing 12 months to March 31, 2026. The market capitalization is $694.8M as of Sep 4, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Shenandoah Telecommunications's Altman Z-Score?

Shenandoah Telecommunications (SHEN) has an Altman Z-Score of 1.08, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Shenandoah Telecommunications's Piotroski F-Score?

Shenandoah Telecommunications (SHEN) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Shenandoah Telecommunications's earnings high quality?

Shenandoah Telecommunications (SHEN) reported a net loss of $32.9M while generating $101.0M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Shenandoah Telecommunications cover its interest payments?

Shenandoah Telecommunications (SHEN) reported an operating loss of $23.2M against $25.4M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Shenandoah Telecommunications?

Shenandoah Telecommunications (SHEN) scores 28 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.