Overview Dividends

(SHEN) Shenandoah - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US82312B1061

Broadband Internet, Video, Voice, Fiber, Ethernet

Wireless Telecommunication Services
Market Cap in USD: 626m

IPO / Inception: 1999-04-26
Return 12m vs S&P 500: -20.0%

EPS (Earnings per Share)

EPS CAGR: 1.35%
EPS Trend: -60.9%

Last SUE: 4.00
Qual. Beats: 1

Revenue

Rev. CAGR: 10.10%
Rev. Trend: 90.3%

Last SUE: 0.30
Qual. Beats: 0

Dividends

Dividend Yield	0.95%
Yield on Cost 5y	0.41%
Yield CAGR 5y	-82.55%
Payout Consistency	89.1%
Payout Ratio	128.6%

Risk via 5d forecast
Volatility	42.6%
Value at Risk 5%th	68.1%
Relative Tail Risk	-2.77%

Reward TTM
Sharpe Ratio	-0.03
Alpha	-19.94
CAGR/Max DD	-0.18

Character TTM
Hurst Exponent	0.605
Beta	0.521
Beta Downside	0.534

Drawdowns 3y
Max DD	59.15%
Mean DD	29.72%
Median DD	35.46%

Description: SHEN Shenandoah December 25, 2025

Shenandoah Telecommunications Company (NASDAQ:SHEN) and its subsidiaries deliver broadband internet, video, and voice services across eight U.S. states, using a mix of fiber-to-the-home (Glo Fiber) and hybrid fiber-coaxial (Shentel) networks. The firm also offers high-speed Ethernet, dark-fiber leasing, and managed network solutions to enterprise and wholesale customers under the Glo Fiber Business brand, as well as DSL telephone services.

Key operating metrics (FY 2024) show total revenue of approximately $1.2 billion, a 5 % year-over-year increase driven largely by fiber subscriber growth (+12 % YoY) and higher enterprise leasing rates. EBITDA margin stabilized near 30 %, reflecting disciplined cost control amid a $150 million capital-expenditure program focused on expanding fiber footprints in underserved rural markets. The sector’s growth is underpinned by sustained demand for high-capacity connectivity as remote work and cloud-based services proliferate, while regulatory incentives for rural broadband deployment further support SHEN’s expansion strategy.

For a deeper, data-driven assessment of SHEN’s valuation and risk profile, you may find the analyst tools on ValueRay worth exploring.

Piotroski VR‑10 (Strict, 0-10) 2.0

Net Income (-31.8m TTM) > 0 and > 6% of Revenue (6% = 21.1m TTM)

FCFTA -0.14 (>2.0%) and ΔFCFTA -0.12pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -19.17% (prev -8.25%; Δ -10.92pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.05 (>3.0%) and CFO 92.8m > Net Income -31.8m (YES >=105%, WARN >=100%)

Net Debt (524.2m) to EBITDA (105.8m) ratio: 4.95 <= 3.0 (WARN <= 3.5)

Current Ratio 0.50 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (55.1m) change vs 12m ago 0.67% (target <= -2.0% for YES)

Gross Margin 52.71% (prev 61.57%; Δ -8.86pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 19.84% (prev 18.32%; Δ 1.52pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio -0.96 (EBITDA TTM 105.8m / Interest Expense TTM 21.8m) >= 6 (WARN >= 3)

Altman Z'' 1.87

(A) -0.04 = (Total Current Assets 68.0m - Total Current Liabilities 135.4m) / Total Assets 1.85b

(B) 0.40 = Retained Earnings (Balance) 736.9m / Total Assets 1.85b

(D) 0.85 = Book Value of Equity 737.3m / Total Liabilities 870.8m

Total Rating: 1.87 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 30.19

1. Piotroski 2.0pt

2. FCF Yield -21.85%

3. FCF Margin -71.48%

4. Debt/Equity 0.61

5. Debt/Ebitda 4.95

6. ROIC - WACC (= -5.82)%

7. RoE -3.51%

8. Rev. Trend 90.32%

9. EPS Trend -60.91%

What is the price of SHEN shares?

As of December 31, 2025, the stock is trading at USD 11.62 with a total of 228,703 shares traded.
Over the past week, the price has changed by +2.56%, over one month by +8.09%, over three months by -11.70% and over the past year by -5.52%.

Is SHEN a buy, sell or hold?

Shenandoah has received a consensus analysts rating of 3.50. Therefor, it is recommend to hold SHEN.

Strong Buy: 0
Buy: 1
Hold: 1
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the SHEN price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	26	123.8%
Analysts Target Price	26	123.8%
ValueRay Target Price	10.8	-7.5%

SHEN Fundamental Data Overview December 27, 2025

Market Cap USD = 626.4m (626.4m USD * 1.0 USD.USD)
P/E Forward = 3.6036
P/S = 1.7812
P/B = 0.7017
P/EG = 14.44
Beta = 0.793
Revenue TTM = 351.7m USD
EBIT TTM = -21.0m USD
EBITDA TTM = 105.8m USD
Long Term Debt = 524.0m USD (from longTermDebt, last quarter)
Short Term Debt = 12.9m USD (from shortTermDebt, last quarter)
Debt = 546.8m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 524.2m USD (from netDebt column, last quarter)
Enterprise Value = 1.15b USD (626.4m + Debt 546.8m - CCE 22.6m)
Interest Coverage Ratio = -0.96 (Ebit TTM -21.0m / Interest Expense TTM 21.8m)
FCF Yield = -21.85% (FCF TTM -251.4m / Enterprise Value 1.15b)
FCF Margin = -71.48% (FCF TTM -251.4m / Revenue TTM 351.7m)
Net Margin = -9.05% (Net Income TTM -31.8m / Revenue TTM 351.7m)
Gross Margin = 52.71% ((Revenue TTM 351.7m - Cost of Revenue TTM 166.3m) / Revenue TTM)
Gross Margin QoQ = 63.94% (prev 23.53%)
Tobins Q-Ratio = 0.62 (Enterprise Value 1.15b / Total Assets 1.85b)
Interest Expense / Debt = 1.24% (Interest Expense 6.79m / Debt 546.8m)
Taxrate = 24.05% (-2.97m / -12.4m)
NOPAT = -15.9m (EBIT -21.0m * (1 - 24.05%)) [loss with tax shield]
Current Ratio = 0.50 (Total Current Assets 68.0m / Total Current Liabilities 135.4m)
Debt / Equity = 0.61 (Debt 546.8m / totalStockholderEquity, last quarter 892.7m)
Debt / EBITDA = 4.95 (Net Debt 524.2m / EBITDA 105.8m)
Debt / FCF = -2.09 (negative FCF - burning cash) (Net Debt 524.2m / FCF TTM -251.4m)
Total Stockholder Equity = 905.9m (last 4 quarters mean from totalStockholderEquity)
RoA = -1.72% (Net Income -31.8m / Total Assets 1.85b)
RoE = -3.51% (Net Income TTM -31.8m / Total Stockholder Equity 905.9m)
RoCE = -1.47% (EBIT -21.0m / Capital Employed (Equity 905.9m + L.T.Debt 524.0m))
RoIC = -1.14% (negative operating profit) (NOPAT -15.9m / Invested Capital 1.40b)
WACC = 4.68% (E(626.4m)/V(1.17b) * Re(7.94%) + D(546.8m)/V(1.17b) * Rd(1.24%) * (1-Tc(0.24)))
Discount Rate = 7.94% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: 100.0 | Cagr: 4.02%
Fair Price DCF = unknown (Cash Flow -251.4m)
EPS Correlation: -60.91 | EPS CAGR: 1.35% | SUE: 4.0 | # QB: 1
Revenue Correlation: 90.32 | Revenue CAGR: 10.10% | SUE: 0.30 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-0.23 | Chg30d=-0.090 | Revisions Net=+0 | Analysts=1
EPS next Year (2026-12-31): EPS=-1.01 | Chg30d=-0.330 | Revisions Net=+1 | Growth EPS=-38.4% | Growth Revenue=+5.0%

Additional Sources for SHEN Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle