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Side-by-side financial comparison of American Assets Trust, Inc. (AAT) and SHENANDOAH TELECOMMUNICATIONS CO (SHEN). Click either name above to swap in a different company.
American Assets Trust, Inc. is the larger business by last-quarter revenue ($110.6M vs $91.6M, roughly 1.2× SHENANDOAH TELECOMMUNICATIONS CO). American Assets Trust, Inc. runs the higher net margin — 6.1% vs -5.9%, a 12.0% gap on every dollar of revenue. On growth, SHENANDOAH TELECOMMUNICATIONS CO posted the faster year-over-year revenue change (7.2% vs 1.8%). Over the past eight quarters, SHENANDOAH TELECOMMUNICATIONS CO's revenue compounded faster (15.0% CAGR vs -0.1%).
Personal Assets Trust is a large British investment trust. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The chairman is Iain Ferguson CBE.
Shenandoah Telecommunications Co is a U.S. regional telecom provider offering broadband internet, wireless voice/data services, digital cable TV, and fiber-optic solutions. It serves residential, small business and enterprise clients across Mid-Atlantic states, focusing on underserved rural and suburban markets in Virginia, West Virginia, Maryland and Pennsylvania.
AAT vs SHEN — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $110.6M | $91.6M |
| Net Profit | $6.7M | $-5.4M |
| Gross Margin | — | — |
| Operating Margin | 23.4% | -1.0% |
| Net Margin | 6.1% | -5.9% |
| Revenue YoY | 1.8% | 7.2% |
| Net Profit YoY | -16.3% | -95.8% |
| EPS (diluted) | $0.08 | $-0.13 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $110.6M | — | ||
| Q4 25 | $110.1M | $91.6M | ||
| Q3 25 | $109.6M | $89.8M | ||
| Q2 25 | $107.9M | $88.6M | ||
| Q1 25 | $108.6M | $87.9M | ||
| Q4 24 | $113.5M | $85.4M | ||
| Q3 24 | $122.8M | $87.6M | ||
| Q2 24 | $110.9M | $85.8M |
| Q1 26 | $6.7M | — | ||
| Q4 25 | — | $-5.4M | ||
| Q3 25 | $4.5M | $-9.4M | ||
| Q2 25 | $5.5M | $-9.0M | ||
| Q1 25 | $42.5M | $-9.1M | ||
| Q4 24 | — | $-2.7M | ||
| Q3 24 | $16.7M | $-5.3M | ||
| Q2 24 | $11.9M | $-12.9M |
| Q1 26 | — | — | ||
| Q4 25 | 59.4% | — | ||
| Q3 25 | 60.5% | — | ||
| Q2 25 | 62.6% | — | ||
| Q1 25 | 62.0% | — | ||
| Q4 24 | 61.3% | — | ||
| Q3 24 | 65.5% | — | ||
| Q2 24 | 63.6% | — |
| Q1 26 | 23.4% | — | ||
| Q4 25 | 21.1% | -1.0% | ||
| Q3 25 | 22.6% | -8.0% | ||
| Q2 25 | 24.1% | -10.3% | ||
| Q1 25 | 66.3% | -6.9% | ||
| Q4 24 | 26.5% | -6.7% | ||
| Q3 24 | 30.8% | -4.8% | ||
| Q2 24 | 27.8% | -18.5% |
| Q1 26 | 6.1% | — | ||
| Q4 25 | — | -5.9% | ||
| Q3 25 | 4.1% | -10.5% | ||
| Q2 25 | 5.1% | -10.2% | ||
| Q1 25 | 39.2% | -10.4% | ||
| Q4 24 | — | -3.2% | ||
| Q3 24 | 13.6% | -6.0% | ||
| Q2 24 | 10.7% | -15.0% |
| Q1 26 | $0.08 | — | ||
| Q4 25 | $0.06 | $-0.13 | ||
| Q3 25 | $0.07 | $-0.20 | ||
| Q2 25 | $0.09 | $-0.19 | ||
| Q1 25 | $0.70 | $-0.19 | ||
| Q4 24 | $0.14 | $-0.34 | ||
| Q3 24 | $0.28 | $-0.13 | ||
| Q2 24 | $0.20 | $-0.24 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $118.3M | $27.3M |
| Total DebtLower is stronger | — | $642.4M |
| Stockholders' EquityBook value | $1.1B | $880.8M |
| Total Assets | $2.9B | $1.9B |
| Debt / EquityLower = less leverage | — | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $118.3M | — | ||
| Q4 25 | $129.4M | $27.3M | ||
| Q3 25 | $138.7M | $22.6M | ||
| Q2 25 | $143.7M | $29.1M | ||
| Q1 25 | $143.9M | $87.5M | ||
| Q4 24 | $425.7M | $46.3M | ||
| Q3 24 | $533.0M | $43.1M | ||
| Q2 24 | $114.9M | $43.8M |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $642.4M | ||
| Q3 25 | — | $535.4M | ||
| Q2 25 | — | $513.1M | ||
| Q1 25 | — | $515.8M | ||
| Q4 24 | $2.0B | $418.0M | ||
| Q3 24 | — | $345.2M | ||
| Q2 24 | — | $297.4M |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.2B | $880.8M | ||
| Q3 25 | $1.2B | $892.7M | ||
| Q2 25 | $1.2B | $902.0M | ||
| Q1 25 | $1.2B | $910.5M | ||
| Q4 24 | $1.2B | $918.6M | ||
| Q3 24 | $1.2B | $925.4M | ||
| Q2 24 | $1.2B | $933.1M |
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $1.9B | ||
| Q3 25 | $2.9B | $1.9B | ||
| Q2 25 | $3.0B | $1.8B | ||
| Q1 25 | $3.0B | $1.8B | ||
| Q4 24 | $3.3B | $1.7B | ||
| Q3 24 | $3.4B | $1.7B | ||
| Q2 24 | $3.0B | $1.7B |
| Q1 26 | — | — | ||
| Q4 25 | 1.48× | 0.73× | ||
| Q3 25 | — | 0.60× | ||
| Q2 25 | — | 0.57× | ||
| Q1 25 | — | 0.57× | ||
| Q4 24 | 1.72× | 0.46× | ||
| Q3 24 | — | 0.37× | ||
| Q2 24 | — | 0.32× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $28.8M |
| Free Cash FlowOCF − Capex | — | $-78.6M |
| FCF MarginFCF / Revenue | — | -85.8% |
| Capex IntensityCapex / Revenue | 14.5% | 117.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-257.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $167.1M | $28.8M | ||
| Q3 25 | $40.5M | $30.7M | ||
| Q2 25 | $49.2M | $20.9M | ||
| Q1 25 | $36.9M | $20.5M | ||
| Q4 24 | $207.1M | $20.6M | ||
| Q3 24 | $52.4M | $24.3M | ||
| Q2 24 | $59.3M | $2.5M |
| Q1 26 | — | — | ||
| Q4 25 | $94.9M | $-78.6M | ||
| Q3 25 | $23.1M | $-51.4M | ||
| Q2 25 | $28.4M | $-65.3M | ||
| Q1 25 | $20.4M | $-62.7M | ||
| Q4 24 | $136.9M | $-72.0M | ||
| Q3 24 | $28.0M | $-51.3M | ||
| Q2 24 | $43.6M | $-78.3M |
| Q1 26 | — | — | ||
| Q4 25 | 86.2% | -85.8% | ||
| Q3 25 | 21.1% | -57.2% | ||
| Q2 25 | 26.3% | -73.7% | ||
| Q1 25 | 18.8% | -71.3% | ||
| Q4 24 | 120.7% | -84.3% | ||
| Q3 24 | 22.8% | -58.5% | ||
| Q2 24 | 39.3% | -91.3% |
| Q1 26 | 14.5% | — | ||
| Q4 25 | 65.6% | 117.2% | ||
| Q3 25 | 15.9% | 91.4% | ||
| Q2 25 | 19.3% | 97.3% | ||
| Q1 25 | 15.1% | 94.7% | ||
| Q4 24 | 61.9% | 108.4% | ||
| Q3 24 | 19.9% | 86.2% | ||
| Q2 24 | 14.1% | 94.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 8.98× | — | ||
| Q2 25 | 9.01× | — | ||
| Q1 25 | 0.87× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.15× | — | ||
| Q2 24 | 4.98× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AAT
| Rental income | $104.4M | 94% |
| Other | $6.2M | 6% |
SHEN
| Residential And SMB Incumbent Broadband | $41.5M | 45% |
| Residential And SMB Glo Fiber Expansion Markets | $23.0M | 25% |
| Commercial Fiber | $20.3M | 22% |
| RLEC Other | $6.8M | 7% |
