Shenandoah Telecommunications Co key statistics and ratios
In fiscal 2025, Shenandoah Telecommunications Co had return on equity of -3.7% and a net margin of -9.2%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.
Financial ratios
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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% |
| Return on equity | 8.6% | 9.9% | 6.7% | 8.0% | 13.4% | 13.8% | 14.9% | −0.3% | 20.5% | 11.8% | 12.2% | 24.0% | 163.8% | −1.3% | 1.2% | 24.7% | −3.7% | −4.4% |
| Return on assets | — | 3.9% | 2.7% | 3.1% | 5.1% | 5.6% | 6.6% | −0.1% | 4.6% | 3.2% | 3.3% | 6.4% | 68.5% | −0.9% | 0.7% | 13.1% | −1.8% | −1.9% |
| Effective tax rate | 41.0% | 41.6% | 44.1% | 42.0% | 40.2% | 39.5% | 40.4% | — | — | — | 0.3% | — | −27.2% | — | 33.0% | — | — | — |
| SG&A as % of revenue | 19.4% | 23.3% | 22.5% | 21.1% | 21.9% | 21.2% | 21.3% | 24.9% | 27.1% | 36.8% | 37.6% | 38.5% | 33.6% | 36.6% | 36.9% | 35.1% | 33.0% | 32.7% |
| Dividends ÷ net income | 46.4% | 40.5% | 56.3% | 45.4% | 27.7% | 31.8% | 27.1% | — | 18.5% | 27.6% | 25.1% | 13.1% | 94.1% | — | 56.3% | 3.0% | — | — |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Net margin | −3.2% | −10.4% | −10.2% | −10.5% | −5.9% | −17.1% | −8.2% | −9.8% |
| SG&A as % of revenue | 33.9% | 35.3% | 33.6% | 33.2% | 30.2% | 36.2% | 33.2% | 31.0% |
Financial health
- 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.
Moat
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).
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