Shenandoah Telecommunications Co
NASDAQ: SHEN · COMMUNICATION SERVICES · TELECOM SERVICES
Updated 2026-06-05
Shenandoah Telecommunications Co (SHEN) Financial statements
SEC filings — annual and quarterly data.
Cash flow — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $34.35M | $43.74M | $50.07M | $74.07M | $75.20M | $80.93M | $96.97M | $94.26M | $114.99M | $119.32M | $161.53M | $222.93M | $265.65M | $259.14M | $302.87M | $-250.93M | $74.89M | $113.77M | $62.57M | $101.00M |
| Capital expenditures | $21.20M | $29.08M | $65.57M | $53.21M | $55.94M | $74.66M | $89.05M | $117.03M | $68.23M | $69.68M | $173.23M | $146.49M | $136.64M | $155.53M | $136.57M | $160.10M | $189.61M | $255.07M | $319.07M | $358.92M |
| Depreciation | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Stock-based comp | $-8.44M | $-1.53M | $174000.00 | $653000.00 | $792000.00 | $1.72M | $1.84M | $1.94M | $2.62M | $2.33M | $3.02M | $3.58M | $4.96M | $3.82M | $5.91M | $3.41M | $8.53M | $10.03M | $9.84M | $9.59M |
| Free cash flow | $13.15M | $14.66M | $-15.49M | $20.86M | $19.27M | $6.26M | $7.92M | $-22.76M | $46.76M | $49.64M | $-11.71M | $76.44M | $129.01M | $103.61M | $166.30M | $-411.04M | $-114.71M | $-141.30M | $-256.50M | $-257.92M |
| Investing cash flow | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Dividends paid | $5.33M | $5.80M | $6.52M | $7.01M | $7.31M | $7.32M | $7.40M | $8.19M | $10.76M | $11.09M | $11.71M | $12.26M | $12.87M | $13.94M | $16.42M | $940.26M | $3.99M | $4.52M | $5.80M | $6.45M |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Debt repayment | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net change in cash | — | — | — | — | — | $-11.58M | $55.21M | $-32.77M | $30.60M | $7.89M | $-40.62M | $42.39M | $6.50M | $16.57M | $93.75M | $-111.05M | $-40.28M | — | — | — |
Frequently asked questions
What is Shenandoah Telecommunications Co's revenue?
Shenandoah Telecommunications Co's trailing twelve-month revenue is $362.11M. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is SHEN?
In its most recent fiscal year, SHEN ran a gross margin of 26.86%, an operating margin of -6.17%, and a net margin of -11.01%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does SHEN generate?
SHEN produced $-257.92M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is SHEN's balance sheet healthy?
SHEN holds $27.26M in cash and equivalents against $628.24M in long-term debt, on $880.78M of shareholder equity. That debt is best read against the cash flow the business throws off each year.