Shenandoah Telecommunications (SHEN) Financials

$12.52 +0.10 (+0.81%)

Closing price 05/30/2025 04:00 PM Eastern

Extended Trading

$12.52 0.00 (0.00%)

As of 05/30/2025 06:13 PM Eastern

Annual Income Statements for Shenandoah Telecommunications

This table shows Shenandoah Telecommunications' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Income / (Loss) Attributable to Common Shareholders	190	8.04	-8.38
Consolidated Net Income / (Loss)	194	8.04	-8.38
Net Income / (Loss) Continuing Operations	-28	1.02	-15
Total Pre-Tax Income	-38	1.52	-19
Total Operating Income	-29	0.14	-17
Total Gross Profit	200	168	147
Total Revenue	328	269	249
Operating Revenue	328	269	249
Total Cost of Revenue	128	101	102
Operating Cost of Revenue	128	101	102
Total Operating Expenses	229	168	164
Selling, General & Admin Expense	115	99	91
Depreciation Expense	98	63	66
Impairment Charge	0.38	2.55	5.24
Restructuring Charge	15	2.92	1.25
Total Other Income / (Expense), net	-9.44	1.38	-1.36
Interest Expense	16	4.21	1.58
Other Income / (Expense), net	6.46	5.59	0.22
Income Tax Expense	-9.67	0.50	-3.40
Net Income / (Loss) Discontinued Operations	222	7.02	7.04
Preferred Stock Dividends Declared	3.43	-	-
Basic Earnings per Share	$3.54	$0.16	($0.17)
Weighted Average Basic Shares Outstanding	53.72M	50.40M	50.16M
Diluted Earnings per Share	$3.54	$0.16	($0.17)
Weighted Average Diluted Shares Outstanding	53.72M	50.72M	50.16M
Weighted Average Basic & Diluted Shares Outstanding	54.67M	50.27M	50.20M
Cash Dividends to Common per Share	$0.10	$0.09	$0.08

This table shows Shenandoah Telecommunications' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	-4.54	-6.90	-13	215	2.59	1.59	1.79	2.07	-1.82	-2.73
Consolidated Net Income / (Loss)	-2.74	-5.26	-13	215	2.59	1.59	1.79	2.07	-1.82	-2.73
Net Income / (Loss) Continuing Operations	-6.19	-5.30	-13	-4.09	1.86	-0.18	-1.40	0.74	-8.86	-2.73
Total Pre-Tax Income	-8.09	-6.85	-18	-5.12	-0.18	0.22	0.06	1.42	-12	-2.98
Total Operating Income	-5.75	-4.18	-16	-2.78	0.56	-0.61	-0.12	0.31	-12	-1.77
Total Gross Profit	52	53	51	43	44	41	42	42	30	39
Total Revenue	85	88	86	69	68	67	67	67	52	67
Operating Revenue	85	88	86	69	68	67	67	67	52	67
Total Cost of Revenue	33	34	35	26	24	26	25	25	22	27
Operating Cost of Revenue	33	34	35	26	24	26	25	25	22	27
Total Operating Expenses	58	57	67	46	43	42	42	41	42	41
Selling, General & Admin Expense	28	28	30	29	25	23	25	26	22	22
Depreciation Expense	28	28	26	17	16	16	16	15	19	18
Total Other Income / (Expense), net	-2.34	-2.67	-2.09	-2.34	-0.75	0.83	0.18	1.12	0.61	-1.21
Interest Expense	4.16	3.67	4.00	4.08	1.72	1.20	0.91	0.39	-	-
Other Income / (Expense), net	1.82	1.00	1.91	1.74	0.97	2.02	1.08	1.51	2.18	-1.21
Income Tax Expense	-1.90	-1.54	-5.20	-1.03	-2.04	0.40	1.46	0.68	-2.70	-0.25
Net Income / (Loss) Discontinued Operations	3.45	0.04	-0.10	219	0.73	1.78	3.19	1.33	-	-
Basic Earnings per Share	($0.34)	($0.13)	($0.24)	$4.25	$0.05	$0.03	$0.04	$0.04	($0.05)	($0.05)
Weighted Average Basic Shares Outstanding	53.72M	54.78M	54.73M	50.52M	50.40M	50.38M	50.37M	50.29M	50.16M	50.18M
Diluted Earnings per Share	($0.30)	($0.13)	($0.24)	$4.21	$0.05	$0.03	$0.04	$0.04	($0.05)	($0.05)
Weighted Average Diluted Shares Outstanding	53.72M	54.78M	54.73M	51.01M	50.72M	50.38M	50.37M	50.51M	50.16M	50.18M
Weighted Average Basic & Diluted Shares Outstanding	54.67M	54.60M	54.57M	54.55M	50.27M	50.26M	50.26M	50.25M	50.20M	50.10M

This table details how cash moves in and out of Shenandoah Telecommunications' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Change in Cash & Equivalents	-93	95	-40
Net Cash From Operating Activities	63	114	75
Net Cash From Continuing Operating Activities	69	104	65
Net Income / (Loss) Continuing Operations	-28	1.02	-15
Consolidated Net Income / (Loss)	194	8.04	-8.38
Net Income / (Loss) Discontinued Operations	222	7.02	7.04
Depreciation Expense	97	63	66
Amortization Expense	1.55	0.49	0.72
Non-Cash Adjustments To Reconcile Net Income	12	14	16
Changes in Operating Assets and Liabilities, net	-13	26	-1.38
Net Cash From Discontinued Operating Activities	-6.81	9.44	9.47
Net Cash From Investing Activities	-339	-237	-184
Net Cash From Continuing Investing Activities	-645	-235	-184
Purchase of Property, Plant & Equipment	-319	-255	-189
Acquisitions	-347	0.00	0.00
Sale of Property, Plant & Equipment	2.01	0.66	1.43
Divestitures	0.00	17	0.00
Other Investing Activities, net	19	1.90	4.00
Net Cash From Discontinued Investing Activities	306	-1.48	-0.62
Net Cash From Financing Activities	184	218	69
Net Cash From Continuing Financing Activities	184	218	69
Repayment of Debt	-13	-0.98	-0.93
Payment of Dividends	-5.81	-4.52	-3.99
Issuance of Debt	125	225	75
Other Financing Activities, net	78	-1.39	-1.08
Cash Interest Paid	12	3.03	0.58

This table details how cash moves in and out of Shenandoah Telecommunications' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	3.17	-0.68	-346	250	103	9.66	-22	4.34	11	-0.30
Net Cash From Operating Activities	21	24	2.54	15	22	22	21	48	19	17
Net Cash From Continuing Operating Activities	21	25	10	13	22	19	18	46	9.22	17
Net Income / (Loss) Continuing Operations	-6.19	-5.30	-13	-4.09	1.86	-0.18	-1.40	0.74	-8.86	-2.73
Consolidated Net Income / (Loss)	-2.74	-5.26	-13	215	2.59	1.59	1.79	2.07	-1.82	-2.73
Net Income / (Loss) Discontinued Operations	3.45	0.04	-0.10	219	0.73	1.78	3.19	1.33	-	-
Depreciation Expense	26	28	26	17	16	16	16	15	19	18
Non-Cash Adjustments To Reconcile Net Income	2.98	1.87	2.78	4.72	2.68	2.94	4.38	4.10	2.31	3.50
Changes in Operating Assets and Liabilities, net	-3.54	0.96	-5.33	-5.16	1.18	-0.09	-0.82	26	-3.70	-1.16
Net Cash From Discontinued Operating Activities	-0.41	-0.93	-7.72	2.24	0.04	3.10	3.67	2.64	-	-
Net Cash From Investing Activities	-84	-72	-422	238	-64	-37	-68	-68	-54	-42
Net Cash From Continuing Investing Activities	-84	-72	-422	-67	-64	-36	-67	-67	-53	-42
Purchase of Property, Plant & Equipment	-93	-76	-81	-70	-66	-54	-68	-67	-57	-44
Sale of Property, Plant & Equipment	0.16	0.13	1.72	0.00	0.09	0.06	0.41	0.10	0.51	0.64
Other Investing Activities, net	8.14	3.44	4.94	2.71	1.46	0.34	0.11	0.00	-	-
Net Cash From Financing Activities	67	47	73	-3.16	145	25	25	24	46	24
Net Cash From Continuing Financing Activities	67	47	73	-3.16	145	25	25	24	46	24
Repayment of Debt	-2.25	-2.99	-6.05	-1.71	-	-0.39	-0.33	-0.26	-0.04	-0.42
Issuance of Debt	75	50	-	0.00	150	25	25	25	50	25
Other Financing Activities, net	-0.06	-	79	-1.46	-0.07	-	-0.16	-1.16	-0.09	-0.15
Cash Interest Paid	3.14	2.41	1.26	5.26	1.39	0.79	-0.49	1.33	0.34	0.24

This table presents Shenandoah Telecommunications' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Total Assets	1,740	1,214	978
Total Current Assets	95	176	129
Cash & Equivalents	46	139	44
Accounts Receivable	30	20	21
Prepaid Expenses	17	12	12
Current Deferred & Refundable Income Taxes	1.24	4.69	30
Other Current Nonoperating Assets	0.00	0.56	23
Plant, Property, & Equipment, net	1,439	850	688
Total Noncurrent Assets	207	188	162
Long-Term Investments	16	13	13
Goodwill	158	81	82
Other Noncurrent Operating Assets	34	25	67
Other Noncurrent Nonoperating Assets	0.00	69	-
Total Liabilities & Shareholders' Equity	1,740	1,214	978
Total Liabilities	739	562	340
Total Current Liabilities	115	98	96
Short-Term Debt	9.20	7.10	0.65
Accounts Payable	58	54	49
Accrued Expenses	28	19	28
Current Deferred Revenue	16	12	12
Other Current Liabilities	3.06	2.22	2.83
Other Current Nonoperating Liabilities	0.00	3.60	3.82
Total Noncurrent Liabilities	625	463	243
Long-Term Debt	408	293	74
Noncurrent Deferred Revenue	11	7.19	50
Noncurrent Deferred & Payable Income Tax Liabilities	168	88	85
Noncurrent Employee Benefit Liabilities	4.95	3.94	3.76
Other Noncurrent Operating Liabilities	34	17	20
Other Noncurrent Nonoperating Liabilities	0.00	54	-
Commitments & Contingencies	0.00	0.00	0.00
Redeemable Noncontrolling Interest	82	0.00	-
Total Equity & Noncontrolling Interests	919	653	638
Total Preferred & Common Equity	919	653	638
Total Common Equity	919	653	638
Common Stock	148	67	57
Retained Earnings	769	584	581
Accumulated Other Comprehensive Income / (Loss)	1.85	1.67	0.00

This table presents Shenandoah Telecommunications' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	1,695	1,656	1,446	1,059	1,027	1,007	922
Total Current Assets	98	100	426	74	79	105	118
Cash & Equivalents	43	44	390	36	26	48	33
Accounts Receivable	33	30	18	19	15	16	24
Prepaid Expenses	17	21	15	14	13	13	12
Current Deferred & Refundable Income Taxes	4.70	5.54	2.62	4.65	4.65	5.08	29
Other Current Nonoperating Assets	0.00	0.00	0.56	0.60	20	22	20
Plant, Property, & Equipment, net	1,385	1,337	896	822	786	740	641
Total Noncurrent Assets	212	220	124	162	162	163	163
Long-Term Investments	15	15	13	13	13	13	13
Goodwill	163	169	81	81	81	81	82
Other Noncurrent Operating Assets	34	35	29	68	68	68	69
Other Noncurrent Nonoperating Assets	0.00	0.00	0.00	-	-	-	0.00
Total Liabilities & Shareholders' Equity	1,695	1,656	1,446	1,059	1,027	1,007	922
Total Liabilities	688	644	574	404	378	364	280
Total Current Liabilities	123	112	91	84	82	92	79
Short-Term Debt	8.63	8.73	7.88	2.41	1.06	1.30	0.11
Accounts Payable	66	58	50	43	41	49	36
Accrued Expenses	30	28	18	22	20	23	25
Current Deferred Revenue	15	15	12	13	12	12	11
Other Current Liabilities	3.32	3.14	2.27	3.13	3.08	2.95	2.96
Other Current Nonoperating Liabilities	0.00	0.00	0.00	0.00	3.80	3.82	3.83
Total Noncurrent Liabilities	565	532	483	320	296	272	201
Long-Term Debt	336	289	291	147	124	99	25
Noncurrent Deferred Revenue	12	11	8.36	50	50	52	52
Noncurrent Deferred & Payable Income Tax Liabilities	182	186	164	89	88	86	85
Noncurrent Employee Benefit Liabilities	5.09	4.97	4.16	3.97	4.04	3.89	7.71
Other Noncurrent Operating Liabilities	31	41	16	20	20	21	22
Other Noncurrent Nonoperating Liabilities	0.00	0.00	0.00	-	-	-	0.00
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	81	79	-	-	-	-	-
Total Equity & Noncontrolling Interests	925	933	872	654	649	643	643
Total Preferred & Common Equity	925	933	872	654	649	643	643
Total Common Equity	925	933	872	654	649	643	643
Common Stock	145	144	70	65	63	60	56
Retained Earnings	779	786	799	586	584	583	586
Accumulated Other Comprehensive Income / (Loss)	1.00	3.41	3.26	3.24	2.13	-	-

This table displays calculated financial ratios and metrics derived from Shenandoah Telecommunications' official financial filings.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Growth Metrics	-	-	-
Revenue Growth	21.90%	8.12%	1.50%
EBITDA Growth	10.46%	40.32%	-19.85%
EBIT Growth	-486.28%	133.23%	-376.52%
NOPAT Growth	-21,144.13%	100.78%	-295.42%
Net Income Growth	2,311.26%	195.93%	-100.84%
EPS Growth	2,112.50%	194.12%	-100.85%
Operating Cash Flow Growth	-45.01%	51.91%	129.85%
Free Cash Flow Firm Growth	-288.49%	-43.92%	38.94%
Invested Capital Growth	71.97%	23.75%	17.06%
Revenue Q/Q Growth	-0.23%	-0.77%	-4.25%
EBITDA Q/Q Growth	-1.23%	-1.78%	-3.67%
EBIT Q/Q Growth	-94.52%	167.46%	-80.21%
NOPAT Q/Q Growth	-123.52%	104.39%	-32.35%
Net Income Q/Q Growth	-2.68%	121.68%	-62.57%
EPS Q/Q Growth	-9.00%	166.67%	-70.00%
Operating Cash Flow Q/Q Growth	-2.32%	3.08%	121.56%
Free Cash Flow Firm Q/Q Growth	-7.48%	-0.02%	79.48%
Invested Capital Q/Q Growth	4.91%	4.46%	5.18%
Profitability Metrics	-	-	-
Gross Margin	60.95%	62.53%	58.91%
EBITDA Margin	23.27%	25.67%	19.78%
Operating Margin	-8.72%	0.05%	-7.01%
EBIT Margin	-6.75%	2.13%	-6.93%
Profit (Net Income) Margin	59.08%	2.99%	-3.37%
Tax Burden Percent	-509.68%	529.86%	44.53%
Interest Burden Percent	171.83%	26.48%	109.15%
Effective Tax Rate	0.00%	33.03%	0.00%
Return on Invested Capital (ROIC)	-1.87%	0.01%	-2.07%
ROIC Less NNEP Spread (ROIC-NNEP)	85.29%	11.79%	-9.84%
Return on Net Nonoperating Assets (RNNOA)	25.31%	1.23%	0.76%
Return on Equity (ROE)	23.44%	1.25%	-1.31%
Cash Return on Invested Capital (CROIC)	-54.79%	-21.22%	-17.79%
Operating Return on Assets (OROA)	-1.50%	0.52%	-1.85%
Return on Assets (ROA)	13.12%	0.73%	-0.90%
Return on Common Equity (ROCE)	22.27%	1.25%	-1.31%
Return on Equity Simple (ROE_SIMPLE)	21.10%	1.23%	-1.31%
Net Operating Profit after Tax (NOPAT)	-20	0.10	-12
NOPAT Margin	-6.10%	0.04%	-4.91%
Net Nonoperating Expense Percent (NNEP)	-87.16%	-11.78%	7.77%
Return On Investment Capital (ROIC_SIMPLE)	-1.50%	0.01%	-1.71%
Cost of Revenue to Revenue	39.05%	37.47%	41.09%
SG&A Expenses to Revenue	35.11%	36.90%	36.60%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	69.66%	62.47%	65.92%
Earnings before Interest and Taxes (EBIT)	-22	5.73	-17
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	76	69	49
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	0.75	1.65	1.23
Price to Tangible Book Value (P/TBV)	0.90	1.89	1.41
Price to Revenue (P/Rev)	2.10	4.01	3.16
Price to Earnings (P/E)	3.62	134.25	0.00
Dividend Yield	0.79%	0.42%	0.51%
Earnings Yield	27.65%	0.74%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.83	1.56	1.26
Enterprise Value to Revenue (EV/Rev)	3.43	4.56	3.23
Enterprise Value to EBITDA (EV/EBITDA)	14.75	17.75	16.35
Enterprise Value to EBIT (EV/EBIT)	0.00	214.09	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	12,896.88	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	18.00	10.78	10.75
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00
Leverage & Solvency	-	-	-
Debt to Equity	0.42	0.46	0.12
Long-Term Debt to Equity	0.41	0.45	0.12
Financial Leverage	0.30	0.10	-0.08
Leverage Ratio	1.79	1.70	1.46
Compound Leverage Factor	3.07	0.45	1.59
Debt to Total Capital	29.40%	31.48%	10.51%
Short-Term Debt to Total Capital	0.65%	0.74%	0.09%
Long-Term Debt to Total Capital	28.75%	30.74%	10.42%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	5.82%	0.00%	0.00%
Common Equity to Total Capital	64.78%	68.52%	89.49%
Debt to EBITDA	5.46	4.34	1.52
Net Debt to EBITDA	4.65	2.13	0.36
Long-Term Debt to EBITDA	5.34	4.24	1.51
Debt to NOPAT	-20.83	3,153.40	-6.13
Net Debt to NOPAT	-17.73	1,550.37	-1.47
Long-Term Debt to NOPAT	-20.37	3,078.79	-6.08
Altman Z-Score	1.31	2.14	2.46
Noncontrolling Interest Sharing Ratio	4.99%	0.00%	0.00%
Liquidity Ratios	-	-	-
Current Ratio	0.83	1.79	1.33
Quick Ratio	0.66	1.62	0.67
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	-588	-151	-105
Operating Cash Flow to CapEx	19.73%	44.72%	39.93%
Free Cash Flow to Firm to Interest Expense	-36.96	-35.90	-66.63
Operating Cash Flow to Interest Expense	3.94	27.01	47.49
Operating Cash Flow Less CapEx to Interest Expense	-16.01	-33.39	-71.44
Efficiency Ratios	-	-	-
Asset Turnover	0.22	0.25	0.27
Accounts Receivable Turnover	13.25	13.32	11.68
Inventory Turnover	0.00	0.00	0.00
Fixed Asset Turnover	0.29	0.35	0.40
Accounts Payable Turnover	2.30	1.96	2.63
Days Sales Outstanding (DSO)	27.54	27.39	31.25
Days Inventory Outstanding (DIO)	0.00	0.00	0.00
Days Payable Outstanding (DPO)	158.64	185.88	138.67
Cash Conversion Cycle (CCC)	-131.11	-158.49	-107.42
Capital & Investment Metrics	-	-	-
Invested Capital	1,356	788	637
Invested Capital Turnover	0.31	0.38	0.42
Increase / (Decrease) in Invested Capital	567	151	93
Enterprise Value (EV)	1,126	1,227	805
Market Capitalization	689	1,079	787
Book Value per Share	$16.82	$12.98	$12.74
Tangible Book Value per Share	$13.93	$11.37	$11.11
Total Capital	1,418	953	713
Total Debt	417	300	75
Total Long-Term Debt	408	293	74
Net Debt	355	147	18
Capital Expenditures (CapEx)	317	254	188
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-57	-54	-11
Debt-free Net Working Capital (DFNWC)	-11	85	33
Net Working Capital (NWC)	-20	78	32
Net Nonoperating Expense (NNE)	-214	-7.94	-3.84
Net Nonoperating Obligations (NNO)	355	136	-0.88
Total Depreciation and Amortization (D&A)	98	63	66
Debt-free, Cash-free Net Working Capital to Revenue	-17.41%	-20.23%	-4.53%
Debt-free Net Working Capital to Revenue	-3.31%	31.51%	13.17%
Net Working Capital to Revenue	-6.11%	28.88%	12.91%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$3.54	$0.16	($0.17)
Adjusted Weighted Average Basic Shares Outstanding	53.72M	50.40M	50.16M
Adjusted Diluted Earnings per Share	$3.54	$0.16	($0.17)
Adjusted Weighted Average Diluted Shares Outstanding	53.72M	50.72M	50.16M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	54.67M	50.27M	50.20M
Normalized Net Operating Profit after Tax (NOPAT)	-9.59	3.76	-7.67
Normalized NOPAT Margin	-2.92%	1.40%	-3.08%
Pre Tax Income Margin	-11.59%	0.56%	-7.56%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	-1.39	1.36	-10.93
NOPAT to Interest Expense	-1.26	0.02	-7.75
EBIT Less CapEx to Interest Expense	-21.34	-59.04	-129.86
NOPAT Less CapEx to Interest Expense	-21.20	-60.38	-126.68
Payout Ratios	-	-	-
Dividend Payout Ratio	3.00%	56.27%	-47.63%
Augmented Payout Ratio	3.00%	56.27%	-47.63%

This table displays calculated financial ratios and metrics derived from Shenandoah Telecommunications' official financial filings.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	25.77%	29.95%	28.74%	3.10%	31.74%	0.72%	0.94%	4.27%	-17.65%	7.52%
EBITDA Growth	28.16%	39.74%	-30.15%	-3.99%	98.25%	17.73%	54.88%	20.87%	-22.86%	-2.25%
EBIT Growth	-356.18%	-324.75%	-1,549.90%	-157.30%	115.38%	147.47%	125.87%	430.00%	-331.92%	-401.21%
NOPAT Growth	-1,120.21%	-665.63%	-497.13%	-1,319.50%	104.64%	141.69%	227.51%	159.90%	-54.01%	-122.18%
Net Income Growth	-205.99%	-430.38%	-819.11%	10,291.87%	242.02%	158.39%	155.50%	442.62%	-230.03%	-100.31%
EPS Growth	-700.00%	-533.33%	-700.00%	10,425.00%	200.00%	160.00%	166.67%	500.00%	-350.00%	-100.28%
Operating Cash Flow Growth	-6.74%	10.89%	-88.17%	-68.63%	18.16%	25.22%	-5.22%	200.78%	104.63%	3,301.65%
Free Cash Flow Firm Growth	-278.67%	-264.01%	-302.01%	-24.00%	-48.88%	70.54%	17.51%	52.52%	41.92%	-285.28%
Invested Capital Growth	71.97%	71.24%	73.97%	15.68%	23.75%	24.60%	23.72%	14.82%	17.06%	489.19%
Revenue Q/Q Growth	-2.50%	2.10%	23.90%	-15.27%	0.75%	1.15%	-0.78%	-4.07%	-22.97%	1.37%
EBITDA Q/Q Growth	-9.11%	111.20%	-29.27%	-26.32%	-0.90%	5.56%	-2.77%	-10.63%	-41.15%	38.87%
EBIT Q/Q Growth	-23.82%	77.26%	-1,243.94%	-117.57%	8.63%	46.68%	-46.89%	188.49%	-235.21%	20.05%
NOPAT Q/Q Growth	-37.79%	73.71%	-472.23%	-124.83%	-23.61%	-81.54%	1,657.21%	108.53%	-587.07%	43.54%
Net Income Q/Q Growth	47.86%	59.11%	-106.00%	8,192.62%	62.52%	-11.01%	-13.36%	213.33%	33.17%	15.41%
EPS Q/Q Growth	-130.77%	45.83%	-105.70%	8,320.00%	66.67%	-25.00%	0.00%	180.00%	0.00%	16.67%
Operating Cash Flow Q/Q Growth	-15.15%	855.21%	-83.24%	-31.37%	0.90%	1.92%	-55.56%	158.56%	6.92%	-22.85%
Free Cash Flow Firm Q/Q Growth	-5.72%	0.43%	-412.84%	27.48%	-1.63%	-9.96%	-58.18%	9.87%	79.89%	-207.93%
Invested Capital Q/Q Growth	4.91%	3.33%	63.18%	-3.09%	4.46%	4.98%	8.51%	4.00%	5.18%	4.23%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	61.16%	60.71%	59.74%	62.48%	64.07%	61.03%	62.86%	62.14%	57.89%	58.94%
EBITDA Margin	26.07%	27.97%	13.52%	23.69%	25.59%	26.01%	24.93%	25.44%	17.00%	22.26%
Operating Margin	-6.74%	-4.77%	-18.51%	-4.01%	0.83%	-0.90%	-0.18%	0.46%	-23.60%	-2.65%
EBIT Margin	-4.61%	-3.63%	-16.29%	-1.50%	2.26%	2.10%	1.45%	2.70%	-19.37%	-4.45%
Profit (Net Income) Margin	-3.21%	-6.01%	-15.00%	310.04%	3.81%	2.36%	2.69%	3.08%	-3.54%	-4.08%
Tax Burden Percent	33.91%	76.88%	71.62%	-4,196.56%	-1,430.39%	737.50%	3,033.90%	145.19%	15.77%	91.57%
Interest Burden Percent	205.64%	215.42%	128.59%	491.92%	-11.78%	15.28%	6.12%	78.40%	115.79%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	184.72%	2,472.88%	47.93%	0.00%	0.00%
Return on Invested Capital (ROIC)	-1.44%	-1.07%	-4.06%	-1.14%	0.22%	0.31%	1.75%	0.10%	-6.96%	-1.36%
ROIC Less NNEP Spread (ROIC-NNEP)	-0.92%	-2.28%	-5.20%	-509.18%	3.47%	3.69%	-25.61%	-7.94%	-20.50%	-0.85%
Return on Net Nonoperating Assets (RNNOA)	-0.27%	-0.53%	-0.96%	28.67%	0.36%	0.18%	-0.15%	0.29%	1.58%	0.38%
Return on Equity (ROE)	-1.72%	-1.60%	-5.02%	27.54%	0.58%	0.49%	1.60%	0.40%	-5.38%	-0.98%
Cash Return on Invested Capital (CROIC)	-54.79%	-53.40%	-54.65%	-13.89%	-21.22%	-22.23%	-21.66%	-14.62%	-17.79%	-144.57%
Operating Return on Assets (OROA)	-1.02%	-0.87%	-3.75%	-0.35%	0.56%	0.57%	0.41%	0.77%	-5.16%	-1.04%
Return on Assets (ROA)	-0.71%	-1.43%	-3.45%	73.18%	0.94%	0.65%	0.76%	0.88%	-0.94%	-0.96%
Return on Common Equity (ROCE)	-1.63%	-1.53%	-4.78%	27.54%	0.58%	0.49%	1.60%	0.40%	-5.38%	-0.98%
Return on Equity Simple (ROE_SIMPLE)	0.00%	21.52%	22.08%	25.32%	0.00%	0.55%	-0.11%	-0.89%	0.00%	-0.80%
Net Operating Profit after Tax (NOPAT)	-4.03	-2.92	-11	-1.94	0.39	0.52	2.80	0.16	-8.52	-1.24
NOPAT Margin	-4.72%	-3.34%	-12.96%	-2.81%	0.58%	0.77%	4.20%	0.24%	-16.52%	-1.85%
Net Nonoperating Expense Percent (NNEP)	-0.52%	1.21%	1.14%	508.05%	-3.25%	-3.38%	27.36%	8.04%	13.54%	-0.51%
Return On Investment Capital (ROIC_SIMPLE)	-0.30%	-	-	-	0.04%	-	-	-	-1.19%	-
Cost of Revenue to Revenue	38.84%	39.29%	40.26%	37.52%	35.93%	38.97%	37.14%	37.86%	42.11%	41.06%
SG&A Expenses to Revenue	33.19%	31.97%	35.24%	41.30%	37.04%	34.05%	37.57%	38.95%	42.72%	33.21%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	67.90%	65.48%	78.26%	66.48%	63.24%	61.94%	63.03%	61.68%	81.50%	61.59%
Earnings before Interest and Taxes (EBIT)	-3.94	-3.18	-14	-1.04	1.54	1.41	0.96	1.82	-9.99	-2.98
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	22	25	12	16	17	18	17	17	8.77	15
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.75	0.83	0.95	1.00	1.65	1.57	1.50	1.48	1.23	1.32
Price to Tangible Book Value (P/TBV)	0.90	1.00	1.17	1.10	1.89	1.79	1.71	1.69	1.41	1.51
Price to Revenue (P/Rev)	2.10	2.33	2.89	3.02	4.01	3.78	3.59	3.52	3.16	3.25
Price to Earnings (P/E)	3.62	3.87	4.32	3.96	134.25	282.66	0.00	0.00	0.00	0.00
Dividend Yield	0.79%	0.64%	0.55%	0.52%	0.42%	0.39%	0.41%	0.42%	0.51%	111.47%
Earnings Yield	27.65%	25.83%	23.13%	25.27%	0.74%	0.35%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.83	0.88	0.97	1.00	1.56	1.49	1.47	1.49	1.26	1.36
Enterprise Value to Revenue (EV/Rev)	3.43	3.44	3.92	2.66	4.56	4.15	3.91	3.66	3.23	3.17
Enterprise Value to EBITDA (EV/EBITDA)	14.75	14.65	17.19	10.21	17.75	16.01	15.63	16.01	16.35	16.13
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	94.23	214.09	525.65	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	163.82	12,896.88	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	18.00	17.67	19.60	9.53	10.78	10.20	9.99	9.24	10.75	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.42	0.34	0.29	0.34	0.46	0.23	0.19	0.16	0.12	0.04
Long-Term Debt to Equity	0.41	0.33	0.29	0.33	0.45	0.23	0.19	0.15	0.12	0.04
Financial Leverage	0.30	0.23	0.19	-0.06	0.10	0.05	0.01	-0.04	-0.08	-0.45
Leverage Ratio	1.79	1.66	1.61	1.62	1.70	1.53	1.48	1.47	1.46	1.72
Compound Leverage Factor	3.67	3.57	2.08	7.97	-0.20	0.23	0.09	1.15	1.69	1.72
Debt to Total Capital	29.40%	25.51%	22.70%	25.52%	31.48%	18.64%	16.12%	13.46%	10.51%	3.74%
Short-Term Debt to Total Capital	0.65%	0.64%	0.67%	0.67%	0.74%	0.30%	0.14%	0.18%	0.09%	0.02%
Long-Term Debt to Total Capital	28.75%	24.87%	22.03%	24.84%	30.74%	18.34%	15.99%	13.28%	10.42%	3.73%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	5.82%	6.00%	6.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	64.78%	68.50%	71.24%	74.48%	68.52%	81.36%	83.88%	86.54%	89.49%	96.26%
Debt to EBITDA	5.46	4.46	4.23	3.96	4.34	2.13	1.84	1.62	1.52	0.49
Net Debt to EBITDA	4.65	3.70	3.39	-1.39	2.13	1.44	1.26	0.62	0.36	-0.41
Long-Term Debt to EBITDA	5.34	4.35	4.10	3.86	4.24	2.10	1.83	1.60	1.51	0.49
Debt to NOPAT	-20.83	-38.48	-46.04	63.65	3,153.40	-69.26	-41.94	-19.64	-6.13	-2.71
Net Debt to NOPAT	-17.73	-31.95	-36.92	-22.28	1,550.37	-46.67	-28.73	-7.55	-1.47	2.26
Long-Term Debt to NOPAT	-20.37	-37.52	-44.69	61.97	3,078.79	-68.15	-41.58	-19.38	-6.08	-2.69
Altman Z-Score	1.34	1.48	1.64	2.16	2.13	2.55	2.60	2.67	2.48	3.02
Noncontrolling Interest Sharing Ratio	4.99%	4.88%	4.78%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.83	0.79	0.89	4.68	1.79	0.88	0.96	1.13	1.33	1.49
Quick Ratio	0.66	0.61	0.66	4.48	1.62	0.65	0.51	0.70	0.67	0.72
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-572	-541	-543	-106	-151	-149	-135	-85	-101	-504
Operating Cash Flow to CapEx	22.28%	32.19%	3.21%	21.64%	33.65%	40.52%	31.87%	71.73%	33.30%	40.65%
Free Cash Flow to Firm to Interest Expense	-137.48	-147.38	-135.87	-25.97	-87.90	-123.97	-149.24	-217.81	0.00	0.00
Operating Cash Flow to Interest Expense	4.95	6.62	0.64	3.72	12.86	18.27	23.73	123.28	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-17.29	-13.94	-19.17	-13.47	-25.37	-26.82	-50.73	-48.58	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.22	0.24	0.23	0.24	0.25	0.27	0.28	0.29	0.27	0.23
Accounts Receivable Turnover	13.25	12.80	13.72	16.99	13.32	12.78	16.82	17.09	11.68	10.69
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.29	0.30	0.29	0.35	0.35	0.37	0.39	0.41	0.40	0.45
Accounts Payable Turnover	2.30	2.28	2.35	2.15	1.96	2.61	2.94	3.04	2.63	4.09
Days Sales Outstanding (DSO)	27.54	28.52	26.60	21.49	27.39	28.56	21.70	21.36	31.25	34.13
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	158.64	160.12	155.10	169.58	185.88	139.75	124.35	120.22	138.67	89.15
Cash Conversion Cycle (CCC)	-131.11	-131.60	-128.50	-148.09	-158.49	-111.19	-102.64	-98.86	-107.42	-55.02
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,356	1,292	1,251	767	788	755	719	663	637	606
Invested Capital Turnover	0.31	0.32	0.31	0.41	0.38	0.40	0.42	0.44	0.42	0.73
Increase / (Decrease) in Invested Capital	567	538	532	104	151	149	138	86	93	503
Enterprise Value (EV)	1,126	1,132	1,209	769	1,227	1,126	1,058	990	805	825
Market Capitalization	689	765	891	873	1,079	1,025	973	951	787	846
Book Value per Share	$16.82	$16.96	$17.11	$17.25	$12.98	$13.02	$12.92	$12.80	$12.74	$12.83
Tangible Book Value per Share	$13.93	$13.97	$14.00	$15.65	$11.37	$11.40	$11.31	$11.18	$11.11	$11.20
Total Capital	1,418	1,351	1,310	1,170	953	804	774	743	713	667
Total Debt	417	345	297	299	300	150	125	100	75	25
Total Long-Term Debt	408	336	289	291	293	147	124	99	74	25
Net Debt	355	286	238	-105	147	101	86	38	18	-21
Capital Expenditures (CapEx)	92	75	79	70	66	54	67	67	56	43
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-57	-60	-48	-47	-54	-44	-28	-35	-11	5.87
Debt-free Net Working Capital (DFNWC)	-11	-17	-3.84	343	85	-7.56	-1.86	14	33	39
Net Working Capital (NWC)	-20	-26	-13	335	78	-9.97	-2.92	12	32	39
Net Nonoperating Expense (NNE)	-1.28	2.34	1.75	-217	-2.19	-1.08	1.01	-1.91	-6.69	1.49
Net Nonoperating Obligations (NNO)	355	286	238	-105	136	100	70	20	-0.88	-37
Total Depreciation and Amortization (D&A)	26	28	26	17	16	16	16	15	19	18
Debt-free, Cash-free Net Working Capital to Revenue	-17.41%	-18.28%	-15.43%	-16.14%	-20.23%	-16.05%	-10.40%	-12.89%	-4.53%	2.26%
Debt-free Net Working Capital to Revenue	-3.31%	-5.17%	-1.24%	118.50%	31.51%	-2.79%	-0.69%	5.03%	13.17%	14.96%
Net Working Capital to Revenue	-6.11%	-7.79%	-4.07%	115.78%	28.88%	-3.67%	-1.08%	4.55%	12.91%	14.92%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.34)	($0.13)	($0.24)	$4.25	$0.05	$0.03	$0.04	$0.04	($0.05)	($0.05)
Adjusted Weighted Average Basic Shares Outstanding	53.72M	54.78M	54.73M	50.52M	50.40M	50.38M	50.37M	50.29M	50.16M	50.18M
Adjusted Diluted Earnings per Share	($0.30)	($0.13)	($0.24)	$4.21	$0.05	$0.03	$0.04	$0.04	($0.05)	($0.05)
Adjusted Weighted Average Diluted Shares Outstanding	53.72M	54.78M	54.73M	51.01M	50.72M	50.84M	50.69M	50.51M	50.16M	50.18M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	54.67M	54.60M	54.57M	54.55M	50.27M	50.26M	50.26M	50.25M	50.20M	50.10M
Normalized Net Operating Profit after Tax (NOPAT)	-4.03	-1.75	-3.19	-1.94	0.39	1.45	0.71	0.16	-8.52	-0.46
Normalized NOPAT Margin	-4.72%	-2.00%	-3.72%	-2.81%	0.58%	2.15%	1.07%	0.24%	-16.52%	-0.68%
Pre Tax Income Margin	-9.47%	-7.82%	-20.95%	-7.39%	-0.27%	0.32%	0.09%	2.12%	-22.43%	-4.45%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-0.95	-0.87	-3.50	-0.26	0.89	1.18	1.07	4.63	0.00	0.00
NOPAT to Interest Expense	-0.97	-0.80	-2.78	-0.48	0.23	0.43	3.09	0.41	0.00	0.00
EBIT Less CapEx to Interest Expense	-23.19	-21.42	-23.30	-17.44	-37.33	-43.91	-73.39	-167.22	0.00	0.00
NOPAT Less CapEx to Interest Expense	-23.21	-21.36	-22.59	-17.66	-38.00	-44.66	-71.37	-171.45	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	3.00%	0.00%	0.00%	0.00%	56.27%	0.00%	0.00%	0.00%	-47.63%	0.00%
Augmented Payout Ratio	3.00%	0.00%	0.00%	0.00%	56.27%	0.00%	0.00%	0.00%	-47.63%	0.00%

Frequently Asked Questions About Shenandoah Telecommunications' Financials

When does Shenandoah Telecommunications's financial year end?

According to the most recent income statement we have on file, Shenandoah Telecommunications' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Shenandoah Telecommunications' net income changed over the last 2 years?

Shenandoah Telecommunications' net income appears to be on an upward trend, with a most recent value of $193.82 million in 2024, falling from -$8.38 million in 2022. The previous period was $8.04 million in 2023. See where experts think Shenandoah Telecommunications is headed by visiting Shenandoah Telecommunications' forecast page.

What is Shenandoah Telecommunications's operating income?

Shenandoah Telecommunications's total operating income in 2024 was -$28.59 million, based on the following breakdown:

Total Gross Profit: $199.95 million
Total Operating Expenses: $228.54 million

How has Shenandoah Telecommunications revenue changed over the last 2 years?

Over the last 2 years, Shenandoah Telecommunications' total revenue changed from $248.91 million in 2022 to $328.06 million in 2024, a change of 31.8%.

How much debt does Shenandoah Telecommunications have?

Shenandoah Telecommunications' total liabilities were at $739.23 million at the end of 2024, a 31.6% increase from 2023, and a 117.6% increase since 2022.

How much cash does Shenandoah Telecommunications have?

In the past 2 years, Shenandoah Telecommunications' cash and equivalents has ranged from $44.06 million in 2022 to $139.26 million in 2023, and is currently $46.27 million as of their latest financial filing in 2024.

How has Shenandoah Telecommunications' book value per share changed over the last 2 years?

Over the last 2 years, Shenandoah Telecommunications' book value per share changed from 12.74 in 2022 to 16.82 in 2024, a change of 32.1%.

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This page (NASDAQ:SHEN) was last updated on 5/31/2025 by MarketBeat.com Staff

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Shenandoah Telecommunications (SHEN) Financials

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