Saturday 17 October 2026 Export SHEN’s income statement to Excel — free account

Shenandoah Telecommunications Co

SHEN Communication Services Telecom Services

Shenandoah Telecommunications Co’s revenue for fiscal 2025 (year ended December 2025) was $357.9 million, up 9.08% from fiscal 2024. In the quarter to June 2026, revenue grew 5.53%, EPS grew 10.5%, free cash flow grew 30.3% and total debt rose 39.7%, each against the same quarter a year earlier. Dividend growth for three consecutive years, revenue growth for five; insiders bought in the last twelve months.

10.30 0.07 +0.68%

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Market cap: $566.4M
P/E: 0.0×
Fwd P/E: −16.6×
Dividend yield: 1.07%
F-score: 4/9
Altman Z: 1.04
Beneish M: −2.87
Dividend safety: 8/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.07

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	2	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 11.96%

Capital & Financial Ratios $m

Market Cap 566.38

Revenue 367.00

Net Income (38.21)

Free Cash Flow (226.57)

Net Debt 660.23

Current Ratio 0.85

Debt/Equity 0.83

P/E ratio 0.00

Fwd P/E (16.60)

P/S ratio 1.57

P/B ratio 0.67

Past 5Y EPS Growth —

This Y EPS Growth (24.08%)

Next Y EPS Growth 26.28%

Next Y revenue growth 4.76%

Next 5Y EPS Growth 17.41%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 0.15%

10-year low 10-year high

P/B against its own 10 years 1.29%

10-year low 10-year high

EV/Sales against its own 10 years 12.02%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate 0.11

Annual Dividend Yield 1.07%

	total	individual payouts
2026	Powerpack
2025	0.11	0.11
2024	0.10	0.10
2023	0.09	0.09
2022	0.08	0.08
2021	18.82	18.75 18.75 0.07
2020	0.34	0.34
2019	0.29	0.29
2018	0.27	0.27
2017	0.26	0.26
2016	0.25	0.25

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	139	46	48	55
Receivables	24	31	34	24
Inventory	—	—	—	—
Other	1	—	—	—
	176	95	97	93

	2023	2024	2025	Q'26
Payables	54	58	61	58
ST’ Debt	7	9	—	—
Other	16	16	17	18
	98	115	108	110

Compound Annual Growth %

	10y	5y	3y
Sales	0.44%	10.14%	12.86%
Cash Flow	(1.65%)	(19.72%)	10.48%
Earnings	0.00%	0.00%	0.00%
Book Value	11.75%	8.83%	11.35%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	92	93	—	—	—
’25	88	89	90	92	358
’24	69	86	88	85	328
’23	67	67	67	68	269
’22	64	66	67	52	249
’21	60	61	62	63	245
’20	53	54	55	58	221

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	24	24	—	—	—
’25	21	21	31	29	101
’24	15	3	24	21	63
’23	48	21	22	22	114
’22	16	23	17	19	75
’21	85	69	(1)	(404)	(251)
’20	61	68	98	76	303

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(51)	(45)	—	—	—
’25	(63)	(65)	(51)	(79)	(258)
’24	(55)	(77)	(51)	(72)	(254)
’23	(19)	(46)	(15)	(44)	(123)
’22	(30)	(20)	(26)	(37)	(113)
’21	45	29	(40)	(445)	(411)
’20	38	38	68	38	183

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.31)	(0.17)	—	—	—
’25	(0.19)	(0.19)	(0.20)	(0.10)	(0.71)
’24	4.21	(0.24)	(0.13)	(0.05)	3.54
’23	0.04	0.04	0.03	0.05	0.16
’22	(0.01)	(0.06)	(0.05)	(0.04)	(0.17)
’21	1.03	1.07	17.81	0.03	19.92
’20	0.27	0.58	0.70	0.98	2.53

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	19.18	25.35	29.93	29.61	38.35	24.44	15.63	15.62	11.87	9.67	Analyst estimates 2026–2028 Powerpack
	High	42.66	41.80	51.41	51.18	59.93	61.53	26.58	25.51	22.27	15.84
People
People	Employees	1,236	1,066	1,029	1,130	1,139	860	842	845	1,089	1,041
	Revenue/emp, $m	0.43	0.57	0.19	0.18	0.19	0.29	0.30	0.32	0.30	0.34
Income, $m
Income, $m	Revenue	535	612	193	207	221	245	249	269	328	358
	Gross margin, %	63.85	65.44	58.26	59.60	59.39	58.29	58.91	62.53	60.95	63.64
	EBT	2	13	1	2	1	6	(19)	2	(38)	(42)
	EBT margin, %	0.36	2.17	0.38	0.94	0.27	2.54	(7.56)	0.56	(11.59)	(11.70)
	Net income	(1)	66	47	56	126	999	(8)	8	194	(33)
	Depreciation	148	183	45	47	49	56	66	63	98	132
Per share, $
Per share, $	Revenue	10.97	12.45	3.89	4.15	4.42	4.90	4.96	5.34	6.11	6.49
	Earnings	(0.02)	1.35	0.94	1.10	2.54	19.97	(0.17)	0.16	3.54	(0.71)
	Cash flow	3.31	4.54	5.36	5.20	6.07	(5.02)	1.49	2.26	1.16	1.83
	Capex	(3.55)	(2.98)	(1.14)	(1.35)	(2.41)	(3.19)	(3.74)	(4.70)	(5.90)	(6.51)
	Free cash flow	(0.24)	1.56	4.22	3.86	3.66	(8.21)	(2.25)	(2.45)	(4.74)	(4.68)
	Book value	6.06	7.13	8.93	9.48	11.56	12.84	12.72	12.95	17.10	15.99
	Shares, m	49	49	50	50	50	50	50	50	54	55
Valuation, ×
Valuation, ×	P/E	0.00	25.10	50.28	37.83	16.96	1.28	0.00	134.06	3.29	0.00
	P/S	2.64	2.72	11.38	4.89	9.78	5.20	3.30	4.02	2.07	1.78
	P/B	4.77	4.75	4.96	4.38	3.74	1.99	1.29	1.66	0.74	0.72
	EV/Sales	4.12	3.93	14.93	6.35	12.23	5.09	3.42	4.61	3.19	3.43
	EV/FCF	(188.26)	31.49	13.77	14.00	14.77	(3.04)	(7.56)	(8.83)	(4.12)	(4.76)
Cash, $m
Cash, $m	Operating cash flow	162	223	266	259	303	(251)	75	114	63	101
	Capex	(173)	(146)	(57)	(67)	(120)	(160)	(188)	(237)	(317)	(359)
	Free cash flow	(12)	76	209	192	183	(411)	(113)	(123)	(254)	(258)
Balance, $m
Balance, $m	Working capital	(3)	35	122	88	199	99	32	78	(20)	(11)
	Total debt	829	822	770	720	736	56	75	300	417	628
	Net debt	793	743	685	618	541	(28)	31	161	371	580
	Shareholders’ equity	296	350	442	472	577	642	638	653	919	881
Returns, %
Returns, %	ROA	(0.08)	4.58	3.22	3.28	6.41	68.53	(0.90)	0.73	12.89	(2.16)
	ROIC	1.29	2.66	(0.16)	(0.08)	(0.15)	(0.25)	(1.63)	0.01	(1.39)	(0.99)
	ROE	(0.31)	20.55	11.76	12.14	23.95	163.83	(1.31)	1.25	24.23	(4.38)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
TV Grupo Televisa S.A.	$1.3B	— (loss-making)	— (loss-making)	+8.73% (above 0%: growing)	n/m	+17,441.71% (above 0%: growing)	38.75%	11.00%	Compare
SIFY Sify Technologies Limited	$851.1M	— (loss-making)	728×	+4.36% (above 0%: growing)	n/m	+32.06% (above 0%: growing)	39.59%	9.03%	Compare
GLIBK GCI Liberty, Inc. - Series C GCI Group	$822.1M	— (loss-making)	—	0.00%	−57.45% (below 0%: shrinking)	−77.36% (below 0%: shrinking)	47.51%	11.11%	Compare
GLIBA Liberty Capital Corporation	$818.6M	— (loss-making)	6.5×	0.00%	−57.45% (below 0%: shrinking)	−77.36% (below 0%: shrinking)	47.51%	11.11%	Compare
SHEN Shenandoah Telecommunications Co	$566.4M	— (loss-making)	— (loss-making)	+5.53% (above 0%: growing)	n/m	+30.29% (above 0%: growing)	65.01%	(1.09%)
CCOI Cogent Communications Holdings, Inc.	$427.7M	— (loss-making)	— (loss-making)	−4.34% (below 0%: shrinking)	n/m	+288.37% (above 0%: growing)	46.93%	50.49%	Compare
ATNI ATN International, Inc.	$398.3M	2.5×	41.5×	+1.77% (above 0%: growing)	n/m	+71.51% (above 0%: growing)	56.94%	129.93%	Compare
OPTU Optimum Communications, Inc.	$365.5M	— (loss-making)	— (loss-making)	−5.75% (below 0%: shrinking)	n/m	−359.11% (below 0%: shrinking)	70.96%	8.21%	Compare
GOGO Gogo Inc.	$304.9M	2,130×	11.7×	−1.43% (below 0%: shrinking)	n/m	−34.40% (below 0%: shrinking)	42.01%	13.31%	Compare
Median of peers	$623.2M	—	26.6×	0.00%	—	−1.17%	47.22%	11.11%

All 55 Telecom Services stocks →

Shenandoah Telecommunications Co (SHEN) key facts

Strength: Shenandoah Telecommunications Co’s revenue for fiscal 2025 (year ended December 2025) was $357.9 million, up 9.08% from fiscal 2024.
Shenandoah Telecommunications Co (SHEN) is a Telecom Services company in the Communication Services sector, listed on Nasdaq.
As of October 16, 2026, SHEN traded at $10.30, a market capitalization of $566.4 million.
Shenandoah Telecommunications Co pays an annual dividend of $0.11 per share, a yield of 1.07%.
Return on equity was −4.38% and debt-to-equity 0.83.
Its Piotroski F-score is 4 out of 9 and its Altman Z-score is 1.04 (distress zone) for fiscal 2025.