# Shenandoah Telecommunications Co: overview

SHEN · Nasdaq · CIK 354963 · [Communication](/sectors/communication.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/shen.md) · [Financials](/companies/shen/financials.md) · [Filings](/companies/shen/filings.md) · [Insiders](/companies/shen/insiders.md)

Latest reported revenue: [$93.9m](/filings/0000354963-26-000266.md) for Q3 FY2026, three months to 2026-09-30, from the 10-Q filed Oct 28, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0000354963-26-000266).

## Last eight quarters

| Line item | Unit | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [85.4 d](/filings/0000354963-26-000125.md) | [87.9](/filings/0000354963-26-000167.md) | [88.6](/filings/0000354963-26-000209.md) | [89.8](/filings/0000354963-26-000266.md) | [91.6 d](/filings/0000354963-26-000125.md) | [92.2](/filings/0000354963-26-000167.md) | [93.5](/filings/0000354963-26-000209.md) | [93.9](/filings/0000354963-26-000266.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(6.7%) d](/filings/0000354963-26-000125.md) | [(6.9%)](/filings/0000354963-26-000167.md) | [(10.3%)](/filings/0000354963-26-000209.md) | [(8.0%)](/filings/0000354963-26-000266.md) | [(1.0%) d](/filings/0000354963-26-000125.md) | [(11.4%)](/filings/0000354963-26-000167.md) | [(1.1%)](/filings/0000354963-26-000209.md) | [(2.1%)](/filings/0000354963-26-000266.md) |
| Net margin | % | [(3.2%) d](/filings/0000354963-26-000125.md) | [(10.4%)](/filings/0000354963-26-000167.md) | [(10.2%)](/filings/0000354963-26-000209.md) | [(10.5%)](/filings/0000354963-26-000266.md) | [(5.9%) d](/filings/0000354963-26-000125.md) | [(17.1%)](/filings/0000354963-26-000167.md) | [(8.2%)](/filings/0000354963-26-000209.md) | [(9.8%)](/filings/0000354963-26-000266.md) |
| Diluted EPS | $ per share | not reported | [(0.19)](/filings/0000354963-26-000167.md) | [(0.19)](/filings/0000354963-26-000209.md) | [(0.20)](/filings/0000354963-26-000266.md) | not reported | [(0.31)](/filings/0000354963-26-000167.md) | [(0.17)](/filings/0000354963-26-000209.md) | [(0.19)](/filings/0000354963-26-000266.md) |
| Free cash flow | $m | [(72.0) d](/filings/0000354963-26-000125.md) | [(62.7)](/filings/0000354963-26-000167.md) | [(65.3) d](/filings/0000354963-26-000209.md) | [(51.4) d](/filings/0000354963-26-000266.md) | [(78.6) d](/filings/0000354963-26-000125.md) | [(51.5)](/filings/0000354963-26-000167.md) | [(45.9) d](/filings/0000354963-26-000209.md) | [(41.0) d](/filings/0000354963-26-000266.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 12-month figure less the 9-month figure; 6-month figure less the 3-month figure; 9-month figure less the 6-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [245](/filings/0001628280-24-005781.md) | [249](/filings/0001628280-25-006567.md) | [269](/filings/0000354963-26-000125.md) | [328](/filings/0000354963-26-000125.md) | [358](/filings/0000354963-26-000125.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(1.0%)](/filings/0001628280-24-005781.md) | [(7.0%)](/filings/0001628280-25-006567.md) | [0.1%](/filings/0000354963-26-000125.md) | [(8.7%)](/filings/0000354963-26-000125.md) | [(6.5%)](/filings/0000354963-26-000125.md) |
| Net margin | % | [407.3%](/filings/0001628280-24-005781.md) | [(3.4%)](/filings/0001628280-25-006567.md) | [3.0%](/filings/0000354963-26-000125.md) | [59.1%](/filings/0000354963-26-000125.md) | [(9.2%)](/filings/0000354963-26-000125.md) |
| Diluted EPS | $ per share | [19.92](/filings/0001628280-24-005781.md) | [(0.17)](/filings/0001628280-25-006567.md) | [0.16](/filings/0000354963-26-000125.md) | [3.54](/filings/0000354963-26-000125.md) | [(0.71)](/filings/0000354963-26-000125.md) |
| Free cash flow | $m | [(411)](/filings/0001628280-24-005781.md) | [(114)](/filings/0001628280-25-006567.md) | [(141)](/filings/0000354963-26-000125.md) | [(257)](/filings/0000354963-26-000125.md) | [(258)](/filings/0000354963-26-000125.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/shen/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $106.9m | 7,089,344 |  | Added +111,628 |
| [GCM Grosvenor Holdings, LLC](/funds/1939480.md) | 2026-06-30 | $62.1m | 4,116,050 |  | Unchanged |
| [ECP ControlCo, LLC](/funds/1707921.md) | 2026-06-30 | $52.1m | 3,457,105 |  | Unchanged |
| [SOUTHEASTERN ASSET MANAGEMENT INC/TN/](/funds/807985.md) | 2026-06-30 | $39.5m | 2,616,797 |  | Reduced −323,499 |
| [DIMENSIONAL FUND ADVISORS LP](/funds/354204.md) | 2026-06-30 | $39.4m | 2,613,975 |  | Added +142,761 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $32.4m | 2,149,556 |  | Added +190,114 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $31.0m | 2,058,869 |  | Reduced −120,143 |
| [AMERICAN CENTURY COMPANIES INC](/funds/748054.md) | 2026-06-30 | $21.6m | 1,435,478 |  | Added +254,525 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $19.6m | 1,298,399 |  | Added +44,447 |
| [COOPER INVESTORS PTY LTD](/funds/1561728.md) | 2026-06-30 | $14.0m | 930,143 |  | Reduced −7,189 |

## Recent filings

[All 2,279 filings](/companies/shen/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-28 | 08:04 ET | [10-Q](/filings/0000354963-26-000266.md) | Quarterly report, period 2026-09-30 | 0000354963-26-000266 |
| 2026-10-28 | 07:00 ET | [8-K](/filings/0001171843-26-006883.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001171843-26-006883 |
| 2026-10-22 | 16:15 ET | [8-K](/filings/0001171843-26-006778.md) | 5.02 Departure or appointment of officers or directors | 0001171843-26-006778 |
| 2026-07-29 | 14:23 ET | [10-Q/A](/filings/0000354963-26-000214.md) | Quarterly report, amended, period 2026-06-30 | 0000354963-26-000214 |
| 2026-07-29 | 08:04 ET | [10-Q](/filings/0000354963-26-000209.md) | Quarterly report, period 2026-06-30 | 0000354963-26-000209 |
| 2026-07-29 | 07:00 ET | [8-K](/filings/0001171843-26-004973.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001171843-26-004973 |
| 2026-07-22 | 16:05 ET | [8-K](/filings/0001171843-26-004832.md) | 5.02 Departure or appointment of officers or directors | 0001171843-26-004832 |
| 2026-06-10 | 17:26 ET | [SCHEDULE 13D/A](/filings/0000921895-26-001595.md) | Ownership report, active investor, amended | 0000921895-26-001595 |
| 2026-06-08 | 08:55 ET | [8-K](/filings/0001171843-26-003962.md) | 5.02 Departure or appointment of officers or directors | 0001171843-26-003962 |
| 2026-05-01 | 08:02 ET | [10-Q](/filings/0000354963-26-000167.md) | Quarterly report, period 2026-03-31 | 0000354963-26-000167 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0000354963-26-000125.md), filed Feb 26, 2026.

## Forecast league

Not in this season’s league. [This season’s league](/leagues.md)

## About the filer

- CIK: 354963
- Tickers: SHEN
- Exchange: Nasdaq
- SIC code: 4813 Telephone Communications (No Radiotelephone)
- State of incorporation: VA
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 28, 2026, 08:30 ET. No prices; not investment advice.