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Shenandoah Telecommunications Company, together with its subsidiaries, provides broadband services and video and voice services in the United States. The company offers broadband internet, video, and voice services; high-speed Ethernet and dark fiber leasing services; and managed network services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, Kentucky, Delaware, Ohio, and Indiana through fiber optics under the brand name of Glo Fiber and hybrid fiber coaxial cable under the Shentel brand name. It also provides Ethernet and wavelength fiber optic services to enterprise and wholesale customers under the Glo Fiber Business brand names; and DSL telephone services. The company was founded in 1902 and is based in Edinburg, Virginia.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $358M | $115M | $-33M | $-258M | -3.7% | 9.1% | -117.0% |
| 2024 | $328M | $77M | $194M | $-257M | 21.1% | 21.9% | 2311.3% |
| 2023 | $269M | $72M | $8M | $-141M | 1.2% | 8.1% | -195.9% |
| 2022 | $249M | $49M | $-8M | $-114M | -1.3% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 248.91 | 269.13 | 328.06 | 357.85 |
| Operating Revenue | - | 248.91 | 269.13 | 328.06 | 357.85 |
| Cost Of Revenue | - | 102.28 | 100.85 | 128.11 | 130.12 |
| Gross Profit | - | 146.63 | 168.28 | 199.95 | 227.74 |
| Operating Expense | - | 157.60 | 165.22 | 214.03 | 249.80 |
| Selling General And Administration | - | 91.11 | 99.30 | 115.19 | 118.19 |
| Total Expenses | - | 259.88 | 266.07 | 342.14 | 379.92 |
| Operating Income | - | -10.96 | 3.06 | -14.08 | -22.06 |
| Total Operating Income As Reported | - | -17.46 | 0.14 | -28.59 | -23.24 |
| EBITDA | - | 49.24 | 71.65 | 76.70 | 115.13 |
| Normalized EBITDA | - | 55.73 | 74.56 | 91.21 | 116.30 |
| EBIT | - | -17.24 | 5.73 | -22.13 | -16.48 |
| Interest Expense | - | 1.58 | 4.21 | 15.90 | 25.37 |
| Net Interest Income | - | -1.58 | -4.21 | -15.90 | -25.37 |
| Other Non Operating Income Expenses | - | 0.22 | 5.59 | 6.46 | 6.76 |
| Other Income Expense | - | -6.28 | 2.67 | -8.05 | 5.58 |
| Interest Expense Non Operating | - | 1.58 | 4.21 | 15.90 | 25.37 |
| Net Non Operating Interest Income Expense | - | -1.58 | -4.21 | -15.90 | -25.37 |
| Pretax Income | - | -18.82 | 1.52 | -38.03 | -41.86 |
| Tax Provision | - | -3.40 | 0.50 | -9.67 | -8.91 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -1.18 | -0.96 | -3.69 | -0.25 |
| Net Income Continuous Operations | - | -15.42 | 1.02 | -28.36 | -32.94 |
| Net Income From Continuing And Discontinued Operation | - | -8.38 | 8.04 | 193.82 | -32.94 |
| Net Income From Continuing Operation Net Minority Interest | - | -15.42 | 1.02 | -28.36 | -32.94 |
| Net Income | - | -8.38 | 8.04 | 193.82 | -32.94 |
| Net Income Common Stockholders | - | -8.38 | 8.04 | 190.39 | -39.39 |
| Net Income Including Noncontrolling Interests | - | -8.38 | 8.04 | 193.82 | -32.94 |
| Normalized Income | - | -10.10 | 2.97 | -17.53 | -32.02 |
| Diluted NI Availto Com Stockholders | - | -8.38 | 8.04 | 190.39 | -39.39 |
| Basic Average Shares | - | 50.16 | 50.40 | 53.72 | 55.10 |
| Diluted Average Shares | - | 50.16 | 50.72 | 53.72 | 55.10 |
| Reconciled Depreciation | - | 66.48 | 63.37 | 98.45 | 131.61 |
| Reconciled Cost Of Revenue | - | 102.28 | 103.40 | 128.49 | 130.12 |
| Total Unusual Items | - | -6.49 | -2.92 | -14.51 | -1.17 |
| Total Unusual Items Excluding Goodwill | - | -6.49 | -2.92 | -14.51 | -1.17 |
| Net Income Discontinuous Operations | - | 7.04 | 7.02 | 222.17 | 0 |
| Special Income Charges | - | -6.49 | -2.92 | -14.51 | -1.17 |
| Write Off | 5.99 | 5.24 | 2.55 | 0.38 | - |
| Impairment Of Capital Assets | 5.99 | 5.24 | - | - | - |
| Restructuring And Mergern Acquisition | - | 1.25 | 2.92 | 14.51 | 1.17 |
| Depreciation Amortization Depletion Income Statement | - | 66.48 | 65.92 | 98.84 | 131.61 |
| Depreciation And Amortization In Income Statement | - | 66.48 | 65.92 | 98.84 | 131.61 |
| Otherunder Preferred Stock Dividend | - | 0 | 0 | 3.43 | 6.45 |
Communication Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Shenandoah Telecommunications Companythis co. | SHEN | $880M | -26.72 | 1.00 | -3.7% | 12.98 |
| Sinclair, Inc. | SBGI | $1.0B | -8.94 | 2.26 | -25.3% | 9.48 |
| Emerald Holding, Inc. | EEX | $988M | -32.17 | 2.91 | -9.1% | 23.98 |
| Cogent Communications Holdings, Inc. | CCOI | $866M | -4.75 | -13.56 | 285.3% | 18.11 |
| Entravision Communications Corporation |
| 2021 | - | - | - | - | - | - | - |
| EVC |
| $835M |
| -10.54 |
| 15.06 |
| -142.8% |
| -14.35 |
| NXDR | NXDR | $820M | - | 1.90 | -12.6% | - |
| Scholastic Corporation | SCHL | $803M | -422.50 | 0.85 | -0.2% | 10.00 |
| Groupon, Inc. | GRPN | $704M | -8.43 | -16.54 | 196.2% | -60.11 |
| QuinStreet, Inc. | QNST | $681M | 144.74 | 2.79 | 1.9% | 19.33 |
| Peer Median | - | -8.94 | 2.08 | -4.6% | 10.00 | |