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Shenandoah Telecommunications Co (SHEN) stock

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NASDAQ: SHEN Nasdaq Integrated Telecommunication Services Next results ~January 26, 2027

D Fundamentals grade

Shenandoah Telecommunications Co is a US-listed company in the integrated telecommunication services industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$5.8

Residual income

Base case. Range ~$3.5–$9.9. Book value plus the present value of returns above the cost of equity, fading over ten years.

Price vs value

No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.

Shenandoah Telecommunications Co valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders2 buying, 0 selling3 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
  • Funds93 adding, 63 cuttingOf 25 active managers that changed their stake, 15 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Shenandoah Telecommunications files

Where Shenandoah Telecommunications Co stands after its latest 10-Q

Revenue for the twelve months to September 2026 was $371m, up 5.5% on a year earlier, faster than the 5.0% growth a quarter earlier. Free-cash-flow margin rose to -58.5% from -71.5% a year earlier. Operating margin widened to -3.9% from -8.0%. Against its peers on growth, profitability, cash generation and balance sheet, it grades E. It passes 0 of our 6 financial-health checks. Our valuation models combined value is $5.70 a share, against a share price of $9.97.

Source: 10-Q filed October 28, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 26, 2027 (estimated)

Shenandoah Telecommunications Co's trailing-twelve-month revenue grew 5.5% year on year, with a free-cash-flow margin of -58.5%. Where it stands out: days sales outstanding of 22 days ranks 3 of 12 integrated telecommunication services companies we cover. Where it lags: net margin of -10.2% ranks 15 of 16 integrated telecommunication services companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 13.7% while net income fell 25.4%: a 39pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Margins widening. Operating margin is up 4.1 points on a year ago.

Things to watch

  • Loss-making. Operating margin is -3.9%: costs exceed revenue.
  • Burning cash. Free cash flow was -58.5% of revenue over the last 12 months.
  • High debt. Long-term debt exceeds cash by $0.7bn, more than 1.5 times annual revenue.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 2.8% ranks 8 of 9 integrated telecommunication services companies we cover (median 0.8%).
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 37.2% ranks 10 of 13 integrated telecommunication services companies we cover (median 26.0%).

Latest results: FY2026 Q3

Filed October 28, 2026
Earnings per share
-$0.19 against an average estimate of -$0.23: beat by 17.2%
Revenue
$94m, up 4.6% on a year earlier
Share reaction
+1.0% in the first session after the results on October 28, 2026, against 0.0% for the S&P 500
Next report
October 28, 2026

Shenandoah Telecommunications' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-1.3%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$371M
Operating margin
-3.9%
Net margin
-10.2%
EPS (TTM, diluted)
$-0.68

Growth

Revenue growth
+5.5%
Change in growth rate
+0.5 pts
Share count change
+1.0%

Cash

Free cash flow (TTM)
-$217M
FCF margin
-58.5%
Stock pay % of revenue
2.8%

Earnings

Last results
October 28, 2026
Next results (est.)
January 26, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Leadership
  3. Results
  4. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Shenandoah Telecommunications Co valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Valuation models

We value Shenandoah Telecommunications Co as an operating company, with every model that fits that kind of business. Cost of equity 8.6%: the 10-year Treasury yield (4.9%) plus a beta of 0.8 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$5.8 ~$3.5–$9.9 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$0.3 ~$0.3–$0.4 Left out: out of range vs price (0.03x)
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$1.6 ~$7.5–$15 Left out: out of range vs price (0.16x)
Combined value Weighted average of the models that apply: the primary model (revenue-to-maturity model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$5.8 ~$3.5–$9.9 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Shenandoah Telecommunications Co with Integrated Telecommunication Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end Now
Share price$9.92
Market value$551m
+ Net debt (− = net cash)$741m
Enterprise value$1.3bn
Multiples
Price / sales 1.5x
Price / earnings —
Price / free cash flow —
EV / EBITDA 11.2x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

61 /100

Moderate moat

How hard Shenandoah Telecommunications's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 18.4% of total assets over 7 years.

  • Pricing power 19 / 20

    Gross margin has been a median 61.3%, moving by 3.3 percentage points (standard deviation) across 8 years.

  • Durability 10 / 20

    Operating margin has been a median -3.0%; its worst year was -8.0%.

  • Cash conversion 5 / 20

    Free cash flow was positive in 5 of 10 years, at a median -23.2% of revenue.

  • Discipline 12 / 20

    The diluted share count rose 11.0% over five years; stock-based pay has been a median 2.8% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (66 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.87 −23% $375m +5%
Next −$0.74 +15% $394m +5%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −1.3% on 90 days ago. In the last 30 days, 0 analysts raised Shenandoah Telecommunications Co's forecast and 1 cut it.

Consensus EPS forecast Shenandoah Telecommunications Co, last 90 days
−$1.00 −$0.50 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.88 Current fiscal year, 60 days ago: −$0.88 Current fiscal year, 30 days ago: −$0.88 Current fiscal year, 7 days ago: −$0.88 Current fiscal year, Now: −$0.87 −$0.87 Next fiscal year, 90 days ago: −$0.65 Next fiscal year, 60 days ago: −$0.65 Next fiscal year, 30 days ago: −$0.65 Next fiscal year, 7 days ago: −$0.65 Next fiscal year, Now: −$0.74 −$0.74

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.88−$0.65
60 days ago −$0.88−$0.65
30 days ago −$0.88−$0.65
7 days ago −$0.88−$0.65
Now −$0.87−$0.74

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 −$0.23 −$0.19 +17.2%
Jun 2026 −$0.24 −$0.17 +30.2%
Mar 2026 −$0.25 −$0.31 −22.3%
Dec 2025 −$0.15 −$0.13 +12.9%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

2 analysts, Oct 2026
Buy2100%
Hold00%
Sell00%

Monthly trend

  1. Oct 2026112
  2. Sep 2026112

Counts of recommendations published by analysts covering Shenandoah Telecommunications Co, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
7.6%
of tradable shares
Days to cover
2.73
at average volume
Short interest, 1 month
−2%
to October 15, 2026
Held by institutions
72%
of shares
Held by insiders
5.0%
of shares
Employees
1,041
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

Price behaviour

52-week range
Not enough history
From 52-week high
—
vs 50-day average
—
vs 200-day average
—
Volatility (1 year)
—
Beta vs S&P 500
—

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
1 up, 0 down
typical move ±1.0%
After a week
0 up, 0 down
typical move ±%
After a month
0 up, 0 down
typical move ±%
Results releasedNext dayS&P 500 next day5 days21 days
October 28, 2026 +1.0% 0.0% — —

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Shenandoah Telecommunications Co in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Shenandoah Telecommunications Co
$250M $300M $350M $400M FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $269.1M Revenue (TTM), FY24 Q1: $271.2M Revenue (TTM), FY24 Q2: $290.4M Revenue (TTM), FY24 Q3: $310.6M Revenue (TTM), FY24 Q4: $328.1M Revenue (TTM), FY25 Q1: $346.7M Revenue (TTM), FY25 Q2: $349.5M Revenue (TTM), FY25 Q3: $351.7M Revenue (TTM), FY25 Q4: $357.9M Revenue (TTM), FY26 Q1: $362.1M Revenue (TTM), FY26 Q2: $367M Revenue (TTM), FY26 Q3: $371.1M $371.1M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $269.1M
FY24 Q1 $271.2M
FY24 Q2 $290.4M
FY24 Q3 $310.6M
FY24 Q4 $328.1M
FY25 Q1 $346.7M
FY25 Q2 $349.5M
FY25 Q3 $351.7M
FY25 Q4 $357.9M
FY26 Q1 $362.1M
FY26 Q2 $367M
FY26 Q3 $371.1M
Revenue growth, TTM YoY Shenandoah Telecommunications Co
0% 10% 20% 30% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 8.1% Revenue growth, TTM YoY, FY24 Q1: 7.8% Revenue growth, TTM YoY, FY24 Q2: 15.1% Revenue growth, TTM YoY, FY24 Q3: 22.9% Revenue growth, TTM YoY, FY24 Q4: 21.9% Revenue growth, TTM YoY, FY25 Q1: 27.8% Revenue growth, TTM YoY, FY25 Q2: 20.4% Revenue growth, TTM YoY, FY25 Q3: 13.2% Revenue growth, TTM YoY, FY25 Q4: 9.1% Revenue growth, TTM YoY, FY26 Q1: 4.4% Revenue growth, TTM YoY, FY26 Q2: 5.0% Revenue growth, TTM YoY, FY26 Q3: 5.5% 5.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 8.1%
FY24 Q1 7.8%
FY24 Q2 15.1%
FY24 Q3 22.9%
FY24 Q4 21.9%
FY25 Q1 27.8%
FY25 Q2 20.4%
FY25 Q3 13.2%
FY25 Q4 9.1%
FY26 Q1 4.4%
FY26 Q2 5.0%
FY26 Q3 5.5%
Operating margin (TTM) Shenandoah Telecommunications Co
-10% -5% 0% 5% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 0.1% Operating margin (TTM), FY24 Q1: -1.1% Operating margin (TTM), FY24 Q2: -6.4% Operating margin (TTM), FY24 Q3: -7.2% Operating margin (TTM), FY24 Q4: -8.7% Operating margin (TTM), FY25 Q1: -9.2% Operating margin (TTM), FY25 Q2: -7.2% Operating margin (TTM), FY25 Q3: -8.0% Operating margin (TTM), FY25 Q4: -6.5% Operating margin (TTM), FY26 Q1: -7.6% Operating margin (TTM), FY26 Q2: -5.3% Operating margin (TTM), FY26 Q3: -3.9% -3.9%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 0.1%
FY24 Q1 -1.1%
FY24 Q2 -6.4%
FY24 Q3 -7.2%
FY24 Q4 -8.7%
FY25 Q1 -9.2%
FY25 Q2 -7.2%
FY25 Q3 -8.0%
FY25 Q4 -6.5%
FY26 Q1 -7.6%
FY26 Q2 -5.3%
FY26 Q3 -3.9%
FCF margin (TTM) Shenandoah Telecommunications Co
-80% -60% -40% -20% 0% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: -52.5% FCF margin (TTM), FY24 Q1: -65.3% FCF margin (TTM), FY24 Q2: -72.0% FCF margin (TTM), FY24 Q3: -73.5% FCF margin (TTM), FY24 Q4: -78.2% FCF margin (TTM), FY25 Q1: -76.2% FCF margin (TTM), FY25 Q2: -71.9% FCF margin (TTM), FY25 Q3: -71.5% FCF margin (TTM), FY25 Q4: -72.1% FCF margin (TTM), FY26 Q1: -68.1% FCF margin (TTM), FY26 Q2: -61.9% FCF margin (TTM), FY26 Q3: -58.5% -58.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 -52.5%
FY24 Q1 -65.3%
FY24 Q2 -72.0%
FY24 Q3 -73.5%
FY24 Q4 -78.2%
FY25 Q1 -76.2%
FY25 Q2 -71.9%
FY25 Q3 -71.5%
FY25 Q4 -72.1%
FY26 Q1 -68.1%
FY26 Q2 -61.9%
FY26 Q3 -58.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 161 195 251 288 309 327 342 535 612 193 207 221 245 249 269 328 358 371
Gross profit 107 121 145 171 184 197 221 342 400 — — — — — — — — —
EBITDA 76 79 88 99 116 128 145 166 224 41 45 46 53 48 63 68 106 116
Operating income 43 36 32 35 55 62 74 23 47 −3 −1 −3 −2 −17 0 −29 −23 −14
Net income 15 18 13 16 30 34 41 −1 66 47 56 126 999 −8 8 194 −33 −38
Diluted EPS $0.32 $0.38 $0.28 $0.34 $0.61 $0.70 $0.83 −$0.02 $1.33 $0.93 $1.11 $2.51 $19.92 −$0.17 $0.16 $3.54 −$0.71 −$0.68
Growth (year on year)
Revenue — +21.3% +28.7% +14.7% +7.2% +5.8% +4.8% +56.3% +14.3% −68.5% +7.4% +6.7% +11.1% +1.5% +8.1% +21.9% +9.1% +5.5%
EBITDA — +4.5% +11.5% +12.5% +17.2% +10.1% +13.3% +14.8% +34.5% −81.5% +9.7% +1.4% +14.5% −8.5% +30.5% +8.4% +55.8% +19.5%
Operating income — −15.4% −11.1% +7.3% +59.9% +11.8% +19.6% −69.6% +106.5% −106.4% — — — — — — — —
Net income — +19.8% −28.1% +25.5% +81.5% +14.5% +20.6% −102.2% — −29.8% +19.1% +126.4% +694.8% −100.8% — +>999% −117.0% —
Diluted EPS — +18.8% −27.6% +23.6% +79.4% +14.8% +18.6% −102.4% — −30.1% +19.4% +126.1% +693.6% −100.9% — +>999% −120.1% —
Margins
Gross margin 66.3% 61.7% 57.5% 59.2% 59.5% 60.3% 64.6% 63.8% 65.4% — — — — — — — — —
EBITDA margin 47.0% 40.5% 35.1% 34.4% 37.6% 39.1% 42.3% 31.1% 36.5% 21.5% 22.0% 20.9% 21.5% 19.4% 23.4% 20.8% 29.7% 31.1%
Operating margin 26.7% 18.6% 12.9% 12.0% 17.9% 18.9% 21.6% 4.2% 7.6% −1.5% −0.6% −1.2% −1.0% −7.0% 0.1% −8.7% −6.5% −3.9%
Net margin 9.4% 9.3% 5.2% 5.7% 9.6% 10.4% 11.9% −0.2% 10.8% 24.2% 26.8% 56.9% 407.3% −3.4% 3.0% 59.1% −9.2% −10.2%
Free-cash-flow margin 13.0% 9.9% 2.5% 2.7% −7.4% 14.3% 14.5% −2.2% 12.5% 108.5% 92.9% 82.6% −167.6% −45.8% −52.5% −78.2% −72.1% −58.5%
Cash flow
Cash from operations 74 75 81 97 94 115 119 162 223 266 259 303 −251 75 114 63 101 105
Capital spending 53 56 75 89 117 68 70 173 146 57 67 120 160 189 255 319 359 322
Free cash flow 21 19 6 8 −23 47 50 −12 76 209 192 182 −411 −114 −141 −257 −258 −217
Stock-based pay 1 1 2 2 2 3 2 3 4 5 3 6 3 9 10 10 10 11
Free cash flow after stock pay 20 18 5 6 −25 44 47 −15 73 204 189 177 −414 −123 −151 −266 −268 −227
Balance sheet
Cash 12 27 16 71 38 69 77 36 79 85 102 195 84 44 139 46 27 19
Total debt 0 195 181 232 230 224 201 848 837 770 732 698 0 75 300 418 642 760
Net debt (negative = net cash) −12 168 165 161 192 155 124 812 758 685 630 503 −84 31 161 372 615 741
Diluted shares — 48m 48m 48m 48m 49m 49m 49m 50m 50m 50m 50m 50m 50m 51m 54m 55m 56m
Returned to shareholders
Dividends 7 7 7 7 8 11 11 12 12 13 14 16 940 4 5 6 6 —
Buybacks 0 0 0 0 2 2 2 5 0 0 7 0 0 — — — — —
Total returned 7 7 7 8 10 13 13 17 12 13 21 16 940 4 5 6 6 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

0 of 6 checks passed · September 30, 2026
What it owns · $2.0bn
Short-term assets $88mLonger-term assets $1.9bn
What it owes, and who funded it · $974m
Short-term liabilities $123mShareholders' equity $851m
  • Short-term assets cover short-term liabilities $88m of assets due within a year against $123m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $19m of cash against $747m of debt.
  • Debt below 40% of shareholders' equity Debt is 88% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 0% to 88% over five years.
  • A year's operating cash flow covers at least 20% of debt $105m of operating cash flow against $747m of debt.
  • Operating profit covers interest at least five times over Operating income of −$14m against $37m of interest.

From Shenandoah Telecommunications Co's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+1.0%
year over year
Sales & admin spending
32.7%
of revenue
Days sales outstanding
22 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in integrated telecommunication services
Last 12 months unless stated SHEN IQST ATNI KYIV IDT CXDO Median
Revenue, last 12 months $371m $394m $734m $1.2bn $1.3bn $81m $4.6bn
Revenue growth, last 12 months 5.5% 39.3% 2.0% 25.9% 5.4% 25.5% 3.3%
Revenue growth, 3-year average 13.7% 54.2% −0.6% — 1.6% 21.0% 1.9%
Revenue growth, latest quarter 4.6% 51.1% 1.8% — 7.1% 48.9% 5.3%
Gross margin 67.0% 2.7% — — 38.3% 62.0% 61.2%
Operating margin −3.9% −1.3% 37.7% 23.7% 9.3% 4.9% 20.3%
Operating margin, 3-year average −6.3% −0.7% 13.0% — 7.6% 4.0% 16.7%
Net margin −10.2% −2.2% 22.5% 10.7% 6.7% 5.3% 10.5%
Cash from operations / revenue 28.4% −1.0% 17.4% 48.2% 7.0% 14.3% 28.5%
Free-cash-flow margin −58.5% −1.0% 5.6% 26.9% 5.2% 14.3% 13.9%
Free-cash-flow margin, 3-year average −67.8% −1.1% 2.5% — 6.3% 11.0% 10.2%
Stock pay / revenue 2.8% 0.2% 1.0% — 0.8% 3.8% 0.8%
Change in share count 1.0% 208.2% 1.1% 4.4% −1.1% 6.7% 0.5%

Median of all 16 companies we cover in integrated telecommunication services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

16 integrated telecommunication services companies
Measure Company Peer median Rank
Revenue growth Growth 5.5% 3.5% 6 of 16
Change in growth rate Growth +0.5pp +0.9pp 11 of 16
Operating margin Profitability -3.9% 20.3% 14 of 15
Net margin Profitability -10.2% 10.7% 15 of 16
Free-cash-flow margin Cash generation -58.5% 13.8% 14 of 15
Stock pay as % of revenue Cash generation 2.8% 0.8% 8 of 9
Long-term debt as % of assets Balance sheet 37.2% 26.0% 10 of 13
Change in share count Balance sheet 1.0% 0.0% 9 of 15
Days sales outstanding Balance sheet 22 days 33 days 3 of 12

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue YoY
Services $351M ▲ 9.0%
Residential and SMB Incumbent Broadband $170M ▼ 2.9%
Residential and SMB Glo Fiber Expansion Markets $82.6M ▲ 42.7%
Commercial Fiber $79.3M ▲ 13.2%
RLEC Other $26.3M ▲ 3.9%
Income From Leasing Arrangements $6.8M ▲ 16.2%

These categories overlap or exclude eliminations, so shares aren't shown.

From Shenandoah Telecommunications Co's 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$598M
Institutions reporting
182
Shares held vs prior quarter
▼ 1.4%
Positions opened / closed
28 / 12

Top buyers and sellers, Q2 2026: 93 institutions bought and 63 sold ; the biggest buyer was Royce & Associates LP (+607K shares) and the biggest seller Whitebark Investors LP (−559K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $107M 7.1M 17.9% ▲ 1.6%
Gcm Grosvenor Holdings, LLC $62.1M 4.1M 10.4% 0.0%
Ecp Controlco, LLC $52.1M 3.5M 8.7% 0.0%
Southeastern Asset Management Inc $39.5M 2.6M 6.6% ▼ 11.0%
Dimensional Fund Advisors LP $39.4M 2.6M 6.6% ▲ 5.8%
State Street Corp $32.4M 2.1M 5.4% ▲ 9.7%
Vanguard Capital Management LLC $31M 2.1M 5.2% ▼ 5.5%
American Century Companies Inc $21.6M 1.4M 3.6% ▲ 21.6%
Geode Capital Management, LLC $19.6M 1.3M 3.3% ▲ 3.5%
Cooper Investors Pty Ltd $14M 930K 2.3% ▼ 0.8%
Vanguard Portfolio Management LLC $13.8M 913K 2.3% ▲ 3.5%
Millennium Management LLC $11M 731K 1.8% ▼ 38.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Shenandoah Telecommunications Co's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $74,280 3 trades by 2 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $74,280 net buying
Insider Date Trade Shares Price Value
Mckay Edward H President & CEO July 31, 2026 Buy 2,000 $12.14 $24,280
Volk James J SVP Finance & CFO July 31, 2026 Buy 4,186 $11.67 $48,851
Volk James J SVP Finance & CFO July 31, 2026 Buy 97 $11.84 $1,148

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around January 26, 2027 estimated from the company's past filing pattern, not announced

  • October 28, 2026
  • July 29, 2026
  • May 1, 2026
  • February 26, 2026
  • October 29, 2025
  • July 31, 2025

Recent SEC filings

Data status

When each part of this page on Shenandoah Telecommunications Co was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Shenandoah Telecommunications Co in brief

What does Shenandoah Telecommunications Co do?
Shenandoah Telecommunications Co is a US-listed company in the integrated telecommunication services industry. Its financial year ends in December.
What is Shenandoah Telecommunications Co's stock ticker?
Shenandoah Telecommunications Co trades under the ticker SHEN on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Shenandoah Telecommunications Co's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Shenandoah Telecommunications Co reported revenue of $371M, 5.5% higher than a year earlier, according to its SEC filings.
What is Shenandoah Telecommunications Co's free cash flow?
Shenandoah Telecommunications Co's free-cash-flow margin is -58.5% of revenue over the trailing twelve months, ranking 14 of the 15 integrated telecommunication services companies we cover.
Who are Shenandoah Telecommunications Co's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Gcm Grosvenor Holdings, LLC and Ecp Controlco, LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Shenandoah Telecommunications Co's market cap?
On November 2, 2026, Shenandoah Telecommunications Co's market capitalisation was about $551M and net debt of $741M. Market figures come from third-party market data and may be delayed.
How much debt does Shenandoah Telecommunications Co have?
Shenandoah Telecommunications Co's debt-to-equity ratio is 87.8%, from its latest balance sheet (0.0% five years earlier). The financial health section below sets out its other solvency checks.
Who are Shenandoah Telecommunications Co's competitors?
In our Integrated Telecommunication Services peer group, the companies closest to Shenandoah Telecommunications Co are Iqstel Inc, ATN International, Inc., Kyivstar Group Ltd., IDT Corp and Crexendo, Inc. The side-by-side comparison below sets their revenue, margins and growth against Shenandoah Telecommunications Co's.
Are insiders buying or selling Shenandoah Telecommunications Co stock?
Over the last 12 months, Shenandoah Telecommunications Co's directors and officers reported 3 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is Shenandoah Telecommunications Co's next earnings date?
Around January 26, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Shenandoah Telecommunications Co announces its own schedule.