Shenandoah Telecommunications Co (SHEN)

Nasdaq Communication Services Wireless Telecommunication Services S&P SmallCap 600

$9.65

-0.07 (-0.72%)

Close of Nov 06, 2026 · end-of-day data

Source: Shenandoah Telecommunications Co's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 05, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$535.29M	$611.99M	$192.68M	$206.86M	$220.78M	$245.24M	$248.91M	$269.13M	$328.06M	$357.85M
Cost of revenue	$193.52M	$211.51M	$80.42M	$83.57M	$89.66M	$102.30M	$102.28M	$100.85M	$128.11M	$130.12M
Gross profit	$341.77M	$400.48M	$112.27M	$123.29M	$131.12M	$142.94M	$146.63M	$168.28M	$199.95M	$227.74M
Selling, general & admin	$133.32M	$165.94M	$70.84M	$77.85M	$85.02M	$82.45M	$91.11M	$99.30M	$115.19M	$118.19M
Operating income	$22.53M	$46.51M	-$2.97M	-$1.34M	-$2.60M	-$2.43M	-$17.46M	$142.00K	-$28.59M	-$23.24M
Interest expense	$25.10M	$38.24M	$34.85M	$29.47M	—	$2.60M	$1.58M	$4.21M	$15.90M	$25.37M
Pre-tax income	$1.95M	$13.26M	$734.00K	$1.94M	$586.00K	$6.24M	-$18.82M	$1.52M	-$38.03M	-$41.86M
Income tax	$2.84M	-$53.13M	-$1.34M	$6.00K	-$990.00K	-$1.69M	-$3.40M	$501.00K	-$9.67M	-$8.91M
Net income	-$895.00K	$66.39M	$46.59M	$55.50M	$125.67M	$998.83M	-$8.38M	$8.04M	$193.82M	-$32.94M
EBITDA	$166.21M	$223.52M	$41.42M	$45.44M	$46.10M	$52.78M	$48.30M	$63.02M	$68.32M	$106.44M
EPS (basic)	$-0.02	$1.35	$0.94	$1.11	$2.52	$19.97	$-0.17	$0.16	$3.54	$-0.71
EPS (diluted)	$-0.02	$1.33	$0.93	$1.11	$2.51	$19.92	$-0.17	$0.16	$3.54	$-0.71
Diluted shares	48.81M	50.03M	50.06M	50.10M	50.02M	50.15M	50.16M	50.72M	53.72M	55.10M
Gross margin	63.8%	65.4%	58.3%	59.6%	59.4%	58.3%	58.9%	62.5%	60.9%	63.6%
Operating margin	4.2%	7.6%	-1.5%	-0.6%	-1.2%	-1.0%	-7.0%	0.1%	-8.7%	-6.5%
Net margin	-0.2%	10.8%	24.2%	26.8%	56.9%	407.3%	-3.4%	3.0%	59.1%	-9.2%

Balance sheet

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash & equivalents	$36.19M	$78.58M	$85.09M	$101.65M	$195.40M	$84.34M	$44.06M	$139.25M	$46.27M	$27.26M
Receivables	$69.79M	$54.18M	$54.41M	$63.64M	$70.39M	$22.00M	$20.61M	$19.78M	$29.72M	$31.50M
Inventory	$39.04M	$5.70M	$5.26M	$5.73M	—	—	—	—	—	—
Total current assets	$161.47M	$172.90M	$210.20M	$241.85M	$1.41B	$166.37M	$128.56M	$176.07M	$94.52M	$97.44M
Goodwill	$145.26M	$146.50M	$146.50M	$149.07M	—	—	—	—	$67.06M	$67.54M
Total assets	$1.48B	$1.41B	$1.48B	$1.90B	$2.02B	$890.73M	$977.72M	$1.21B	$1.74B	$1.91B
Total current liabilities	$164.26M	$137.58M	$88.54M	$153.58M	$1.21B	$67.29M	$96.42M	$98.36M	$114.57M	$108.50M
Short-term debt	$32.04M	$64.40M	$20.62M	$31.65M	$688.46M	$0	$648.00K	$7.09M	$9.20M	$0
Long-term debt	$797.22M	$757.56M	$749.62M	$688.46M	$0	$0	$74.31M	$292.80M	$407.68M	$628.24M
Total debt	$829.26M	$821.96M	$770.24M	$720.11M	$688.46M	$0	$74.95M	$299.90M	$416.88M	$628.24M
Total liabilities	$1.19B	$1.06B	$1.04B	$1.43B	$1.45B	$248.46M	$339.71M	$561.56M	$821.69M	$1.03B
Shareholders' equity	$295.89M	$352.21M	$440.39M	$468.13M	$577.05M	$642.27M	$638.01M	$652.67M	$918.58M	$880.78M

Cash flow

fiscal years · USD

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

Income statement

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	$67.91M	$69.25M	$85.80M	$87.60M	$85.41M	$87.90M	$88.57M	$89.80M	$91.59M	$92.15M	$93.46M	$93.93M
Cost of revenue	$24.40M	$25.98M	$34.54M	$34.41M	$33.17M	$33.03M	$32.62M	$32.38M	$32.08M	$31.82M	$32.70M	$32.92M
Gross profit	$43.51M	$43.26M	$51.26M	$53.18M	$52.24M	$54.87M	$55.94M	$57.41M	$59.51M	$60.33M	$60.76M	$61.02M
Selling, general & admin	$25.28M	$27.98M	$30.24M	$28.01M	$28.97M	$30.99M	$29.74M	$29.79M	$27.66M	$33.39M	$31.02M	$29.15M
Operating income	$563.00K	-$2.78M	-$15.88M	-$4.18M	-$5.75M	-$6.09M	-$9.11M	-$7.16M	-$873.00K	-$10.47M	-$1.02M	-$1.98M
Interest expense	$1.72M	$4.08M	$4.00M	$3.67M	$4.16M	$4.89M	$6.00M	$6.79M	$7.69M	$9.44M	$9.70M	$10.50M
Pre-tax income	-$182.00K	-$5.12M	-$17.97M	-$6.85M	-$8.09M	-$10.25M	-$12.10M	-$12.36M	-$7.14M	-$19.86M	-$10.24M	-$12.23M
Income tax	-$2.04M	-$1.03M	-$5.20M	-$1.54M	-$1.90M	-$1.12M	-$3.05M	-$2.97M	-$1.77M	-$4.11M	-$2.54M	-$3.05M
Net income	$2.59M	$214.70M	-$12.87M	-$5.26M	-$2.74M	-$9.13M	-$9.05M	-$9.39M	-$5.37M	-$15.75M	-$7.70M	-$9.18M
EBITDA	$16.40M	$14.54M	$9.69M	$23.50M	$21.52M	$22.89M	$25.52M	$26.83M	$31.19M	$24.07M	$29.21M	$31.32M
EPS (basic)	$0.05	$4.25	$-0.24	$-0.13	$-0.11	$-0.19	$-0.19	$-0.20	$-0.13	$-0.31	$-0.17	$-0.19
EPS (diluted)	$0.05	$4.25	$-0.24	$-0.13	$-0.11	$-0.19	$-0.19	$-0.20	$-0.13	$-0.31	$-0.17	$-0.19
Diluted shares	369.00K	50.52M	54.73M	54.78M	352.00K	54.96M	55.10M	55.15M	17.00K	55.55M	55.78M	55.81M
Gross margin	64.1%	62.5%	59.7%	60.7%	61.2%	62.4%	63.2%	63.9%	65.0%	65.5%	65.0%	65.0%
Operating margin	0.8%	-4.0%	-18.5%	-4.8%	-6.7%	-6.9%	-10.3%	-8.0%	-1.0%	-11.4%	-1.1%	-2.1%
Net margin	3.8%	310.0%	-15.0%	-6.0%	-3.2%	-10.4%	-10.2%	-10.5%	-5.9%	-17.1%	-8.2%	-9.8%

Balance sheet

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Cash & equivalents	$139.25M	$389.74M	$43.78M	$43.10M	$46.27M	$87.55M	$29.08M	$22.62M	$27.26M	$43.77M	$23.89M	$18.65M
Receivables	$19.78M	$18.23M	$29.64M	$32.53M	$29.72M	$29.75M	$34.55M	$25.31M	$31.50M	$24.76M	$20.53M	$22.39M
Total current assets	$176.07M	$426.17M	$99.52M	$97.51M	$94.52M	$134.46M	$83.35M	$67.99M	$97.44M	$114.22M	$93.43M	$88.11M
Goodwill	—	—	—	—	$67.06M	—	—	—	$67.54M	$67.54M	$67.54M	$67.54M
Total assets	$1.21B	$1.45B	$1.66B	$1.69B	$1.74B	$1.83B	$1.81B	$1.85B	$1.91B	$1.95B	$1.97B	$2.01B
Total current liabilities	$98.36M	$91.03M	$112.09M	$123.13M	$114.57M	$111.99M	$114.94M	$135.40M	$108.50M	$101.56M	$109.67M	$123.31M
Short-term debt	$7.09M	$7.88M	$8.73M	$8.63M	$9.20M	$10.35M	$10.20M	$10.08M	$0	—	—	—
Long-term debt	$292.80M	$290.72M	$288.57M	$335.93M	$407.68M	$504.20M	$501.61M	$524.02M	$628.24M	$693.89M	$715.03M	$747.09M
Total debt	$299.90M	$298.60M	$297.30M	$344.56M	$416.88M	$514.55M	$511.81M	$534.10M	$628.24M	$693.89M	$715.03M	$747.09M
Total liabilities	$561.56M	$574.28M	$723.25M	$769.45M	$821.69M	$914.98M	$912.71M	$957.75M	$1.03B	$1.09B	$1.12B	$1.16B
Shareholders' equity	$652.67M	$871.64M	$933.08M	$925.36M	$918.58M	$910.47M	$901.96M	$892.68M	$880.78M	$866.96M	$859.94M	$850.65M

Cash flow

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Operating cash flow	$22.09M	$15.16M	$2.54M	$24.27M	$20.60M	$20.52M	$20.95M	$30.74M	$28.79M	$24.37M	$24.43M	$27.84M
Capital expenditures	$65.73M	$70.05M	$80.86M	$75.54M	$92.62M	$83.24M	$86.20M	$82.11M	$107.37M	$75.82M	$70.37M	$68.82M
Free cash flow	-$43.64M	-$54.90M	-$78.32M	-$51.27M	-$72.02M	-$62.71M	-$65.25M	-$51.38M	-$78.58M	-$51.45M	-$45.94M	-$40.98M
Investing cash flow	-$64.20M	$238.48M	-$421.61M	-$71.97M	-$84.31M	-$76.26M	-$75.65M	-$58.01M	-$84.75M	-$64.11M	-$60.72M	-$67.30M
Financing cash flow	$145.41M	-$3.16M	$73.12M	$47.01M	$66.89M	$97.01M	-$3.77M	$20.81M	$81.54M	$62.61M	$20.00M	$30.32M
Stock-based compensation	$1.67M	$3.97M	$2.27M	$1.38M	$2.22M	$3.72M	$2.19M	$2.07M	$1.62M	$4.80M	$2.30M	$1.33M
Depreciation & amortization	$15.84M	$17.32M	$25.58M	$27.68M	$27.28M	$28.98M	$34.63M	$34.00M	$32.07M	$34.54M	$30.23M	$33.29M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.