SHEN Communication Services

Shenandoah Telecommunications Company

$10.00+0.81%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Communication Services
Industry: Telecom Services
Country: United States
Market cap: 553.6M USD
Enterprise value: 1.3B USD
Full-time employees: 1,041

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: less short-term liquidity (current ratio 0.85 vs a peer median of 1.38)higher risk: less liquidity (current ratio 0.85 vs peers 1.38)
About average: growth

Ranks #372 of 454 communication services companies (bottom 19%)

See how it ranks against its peers

Worth knowing

Paying shareholders without free cash flow. Paid out $17M over the 3 fiscal years to 2025 with -$656M of free cash flow.
Shenandoah Telecommunications returned $17M in buybacks and dividends over three fiscal years while its free cash flow totalled -$656M. The money came from its cash pile or from borrowing.
Valuation signals disagree. Cheaper than 52% of peers on operating cash profit (EBITDA), but only 0% on earnings.Cheaper than 52% of peers on operating cash profit, but only 0% on earnings.
Relative to its operating cash profit (EBITDA), Shenandoah Telecommunications looks cheaper than 52% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.Relative to its operating cash profit, Shenandoah Telecommunications looks cheaper than 52% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.
Not profitable yet. Reported a loss in the 12 months to June 2026.
Shenandoah Telecommunications reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.
Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $221M in 2020 to $358M in 2025.
Shenandoah Telecommunications's fiscal-year revenue rose in each of the five years to 2025, from $221M to $358M.

StockQuotient Score

33/ 100

Oct 5 33 → Nov 4 33

Valuation

Is the price right?

30/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

Share count down 3.5%

Valuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield
▼ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-7.2%

SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.00Sector median: 0.0294 · MAD: 0.0294

EBITDA yield9.0%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score 0.06Sector median: 0.0857 · MAD: 0.0649

Free cash flow yield-42.6%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.25Sector median: 0.0740 · MAD: 0.0593

Other data (not scored)

Book yield161.1%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.4780 · MAD: 0.3375

Growth

Is it growing?

54/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Mixed versus peers:

▲ 3-yr revenue
▼ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

The loss per share widened33% base weight · Z-score -1.22Sector median: 0.0878 · MAD: 0.3126

3-year revenue growth13.3%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 1.50Sector median: 0.0303 · MAD: 0.0683

Revenue growth5.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.28Sector median: 0.0299 · MAD: 0.0720

Profitability

Does it earn well?

16/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

Operating margin rose 2.3 points to -5.3%

Why

Weaker than most peers on:

▼ Operating margin
▼ ROA
▼ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin-5.3%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.71Sector median: 0.0818 · MAD: 0.0789

Return on assets-1.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.46Sector median: 0.0272 · MAD: 0.0318

Return on invested capital-1.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.99Sector median: 0.0598 · MAD: 0.0706

Other data (not scored)

Gross margin64.9%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.4656 · MAD: 0.1827

Return on equity-4.4%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0529 · MAD: 0.1007

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Current ratio
▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.69

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -0.13Sector median: 0.6525 · MAD: 0.2880

Current ratio0.85×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.77Sector median: 1.3848 · MAD: 0.6948

Debt / equity0.85×

SEC filings · latest balance sheetReported value33% base weight · Z-score -1.43Sector median: 0.3697 · MAD: 0.3335

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Shenandoah Telecommunications

Is Shenandoah Telecommunications getting weaker?: Its latest SEC filing (Jul 29, 2026) got stronger: operating margin rose 2.3 points to -5.3%; share count down 3.5%. Its overall score is unchanged at 33/100 since Oct 28, 2026.
How is Shenandoah Telecommunications valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 30/100 against 512 communication services peers. Earnings yield -7.2% vs a peer median of 2.9% (weaker than 100% of peers).Earnings yield -7.2% vs peers 2.9% (weaker than 100% of peers).
Is Shenandoah Telecommunications growing?: At about the same pace as its peers. Growth scores 54/100 against 512 communication services peers. 3-year revenue growth 13.3% vs a peer median of 3.0% (stronger than 81% of peers).3-year revenue growth 13.3% vs peers 3.0% (stronger than 81% of peers).
How profitable is Shenandoah Telecommunications?: Less profitable than most of its peers. Profitability scores 16/100 against 512 communication services peers. Operating margin -5.3% vs a peer median of 8.2% (weaker than 86% of peers).Operating margin -5.3% vs peers 8.2% (weaker than 86% of peers).
How risky is Shenandoah Telecommunications?: Higher risk relative to 512 communication services peers, judged on debt, liquidity and share-price swings. Current ratio 0.85× vs a peer median of 1.38× (weaker than 75% of peers).Current ratio 0.85× vs peers 1.38× (weaker than 75% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 29, 2026 · compared with the quarter ended Mar 31, 2026

Got stronger

Operating margin rose 2.3 points to -5.3%
Share count down 3.5%

Worth watching: Shenandoah Telecommunications is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous quarter	Latest quarter	Change
Revenue (12 months)	362.1M USD	367.0M USD	+1.4%
Net income (12 months)	−39.6M USD	−38.2M USD	−3.4%
Operating margin	-7.6%	-5.3%	+2.3 pts
Free cash flow (12 months)	−246.7M USD	−227.3M USD	−7.8%
Debt	707.4M USD	728.4M USD	+3.0%
Cash	43.8M USD	23.9M USD	−45.4%
Shares outstanding	55.3M	53.4M	−3.5%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Communication Services · 67 companies

Valuations in Communication Services are within their usual range since 2016.

46% of months since 2016 were valued lower than now.
22% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +13% and earnings +11% (medians): earnings grew faster than prices.
Median price-to-sales is −6% vs the whole market, against a usual −7%.

2016Shaded: most expensive fifth of its range2026

Shown for Communication Services: too few Telecom Services companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	-1.0%	-7.0%	0.1%	-8.7%	-6.5%	▲ 2.2 pts
Net margin	407.3%	-3.4%	3.0%	59.1%	-9.2%	▼ 68 pts
Return on assets (ROA)	112.1%	-0.9%	0.7%	11.1%	-1.7%	▼ 13 pts
Return on equity (ROE)	155.5%	-1.3%	1.2%	21.1%	-3.7%	▼ 25 pts
Free cash flow margin	-167.6%	-45.8%	-52.5%	-78.2%	-72.1%	▲ 6.1 pts
Current ratio	2.47×	1.33×	1.79×	0.82×	0.90×	▲ 8.9%
Debt to equity	0.00×	0.12×	0.46×	0.46×	0.73×	▲ 60%
Interest coverage	-0.93×	-11.07×	0.03×	-1.80×	-0.92×	▲ 49%

SHEN price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: less short-term liquidity (current ratio 0.85 vs a peer median of 1.38)higher risk: less liquidity (current ratio 0.85 vs peers 1.38)

About average: growth

Ranks #372 of 454 communication services companies (bottom 19%)

See how it ranks against its peers

Worth knowing

Paying shareholders without free cash flow. Paid out $17M over the 3 fiscal years to 2025 with -$656M of free cash flow.

Shenandoah Telecommunications returned $17M in buybacks and dividends over three fiscal years while its free cash flow totalled -$656M. The money came from its cash pile or from borrowing.

Valuation signals disagree. Cheaper than 52% of peers on operating cash profit (EBITDA), but only 0% on earnings.Cheaper than 52% of peers on operating cash profit, but only 0% on earnings.

Relative to its operating cash profit (EBITDA), Shenandoah Telecommunications looks cheaper than 52% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.Relative to its operating cash profit, Shenandoah Telecommunications looks cheaper than 52% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

Not profitable yet. Reported a loss in the 12 months to June 2026.

Shenandoah Telecommunications reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.

Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $221M in 2020 to $358M in 2025.

Shenandoah Telecommunications's fiscal-year revenue rose in each of the five years to 2025, from $221M to $358M.

Questions investors ask about Shenandoah Telecommunications

Is Shenandoah Telecommunications getting weaker?

Its latest SEC filing (Jul 29, 2026) got stronger: operating margin rose 2.3 points to -5.3%; share count down 3.5%. Its overall score is unchanged at 33/100 since Oct 28, 2026.

How is Shenandoah Telecommunications valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 30/100 against 512 communication services peers. Earnings yield -7.2% vs a peer median of 2.9% (weaker than 100% of peers).Earnings yield -7.2% vs peers 2.9% (weaker than 100% of peers).

Is Shenandoah Telecommunications growing?

At about the same pace as its peers. Growth scores 54/100 against 512 communication services peers. 3-year revenue growth 13.3% vs a peer median of 3.0% (stronger than 81% of peers).3-year revenue growth 13.3% vs peers 3.0% (stronger than 81% of peers).

How profitable is Shenandoah Telecommunications?

Less profitable than most of its peers. Profitability scores 16/100 against 512 communication services peers. Operating margin -5.3% vs a peer median of 8.2% (weaker than 86% of peers).Operating margin -5.3% vs peers 8.2% (weaker than 86% of peers).

How risky is Shenandoah Telecommunications?

Higher risk relative to 512 communication services peers, judged on debt, liquidity and share-price swings. Current ratio 0.85× vs a peer median of 1.38× (weaker than 75% of peers).Current ratio 0.85× vs peers 1.38× (weaker than 75% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

362.1M USD

367.0M USD

+1.4%

Net income (12 months)

−39.6M USD

−38.2M USD

−3.4%

Operating margin

-7.6%

-5.3%

+2.3 pts

Free cash flow (12 months)

−246.7M USD

−227.3M USD

−7.8%

Debt

707.4M USD

728.4M USD

+3.0%

Cash

43.8M USD

23.9M USD

−45.4%

Shares outstanding

55.3M

53.4M

−3.5%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

-1.0%

-7.0%

0.1%

-8.7%

-6.5%

▲ 2.2 pts

Net margin

407.3%

-3.4%

3.0%

59.1%

-9.2%

▼ 68 pts

Return on assets (ROA)

112.1%

-0.9%

0.7%

11.1%

-1.7%

▼ 13 pts

Return on equity (ROE)

155.5%

-1.3%

1.2%

21.1%

-3.7%

▼ 25 pts

Free cash flow margin

-167.6%

-45.8%

-52.5%

-78.2%

-72.1%

▲ 6.1 pts

Current ratio

2.47×

1.33×

1.79×

0.82×

0.90×

▲ 8.9%

Debt to equity

0.00×

0.12×

0.46×

0.73×

▲ 60%

Interest coverage

-0.93×

-11.07×

0.03×

-1.80×

-0.92×

▲ 49%