vs
Side-by-side financial comparison of ACACIA RESEARCH CORP (ACTG) and SHENANDOAH TELECOMMUNICATIONS CO (SHEN). Click either name above to swap in a different company.
SHENANDOAH TELECOMMUNICATIONS CO is the larger business by last-quarter revenue ($91.6M vs $50.1M, roughly 1.8× ACACIA RESEARCH CORP). ACACIA RESEARCH CORP runs the higher net margin — 6.8% vs -5.9%, a 12.7% gap on every dollar of revenue. On growth, SHENANDOAH TELECOMMUNICATIONS CO posted the faster year-over-year revenue change (7.2% vs 2.6%). Over the past eight quarters, ACACIA RESEARCH CORP's revenue compounded faster (43.6% CAGR vs 15.0%).
Acacia Research Corporation is a publicly traded American company based in New York City. It acquires and operates businesses in industries including the technology, energy, and industrial/manufacturing sectors. Acacia has a strategic relationship with Starboard Value, LP, the company's controlling shareholder. The company has been characterized as a patent troll.
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.
ACTG vs SHEN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $50.1M | $91.6M |
| Net Profit | $3.4M | $-5.4M |
| Gross Margin | 12.8% | — |
| Operating Margin | -26.1% | -1.0% |
| Net Margin | 6.8% | -5.9% |
| Revenue YoY | 2.6% | 7.2% |
| Net Profit YoY | 125.5% | -95.8% |
| EPS (diluted) | $0.03 | $-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.
| Q4 25 | $50.1M | $91.6M | ||
| Q3 25 | $59.4M | $89.8M | ||
| Q2 25 | $51.2M | $88.6M | ||
| Q1 25 | $124.4M | $87.9M | ||
| Q4 24 | $48.8M | $85.4M | ||
| Q3 24 | $23.3M | $87.6M | ||
| Q2 24 | $25.8M | $85.8M | ||
| Q1 24 | $24.3M | $69.2M |
| Q4 25 | $3.4M | $-5.4M | ||
| Q3 25 | $-2.7M | $-9.4M | ||
| Q2 25 | $-3.3M | $-9.0M | ||
| Q1 25 | $24.3M | $-9.1M | ||
| Q4 24 | $-13.4M | $-2.7M | ||
| Q3 24 | $-14.0M | $-5.3M | ||
| Q2 24 | $-8.4M | $-12.9M | ||
| Q1 24 | $-186.0K | $214.7M |
| Q4 25 | 12.8% | — | ||
| Q3 25 | 21.2% | — | ||
| Q2 25 | 12.8% | — | ||
| Q1 25 | 47.4% | — | ||
| Q4 24 | 17.6% | — | ||
| Q3 24 | 10.1% | — | ||
| Q2 24 | 26.2% | — | ||
| Q1 24 | 49.2% | — |
| Q4 25 | -26.1% | -1.0% | ||
| Q3 25 | -10.8% | -8.0% | ||
| Q2 25 | -24.2% | -10.3% | ||
| Q1 25 | 30.8% | -6.9% | ||
| Q4 24 | -32.4% | -6.7% | ||
| Q3 24 | -44.1% | -4.8% | ||
| Q2 24 | -18.4% | -18.5% | ||
| Q1 24 | -8.6% | -4.0% |
| Q4 25 | 6.8% | -5.9% | ||
| Q3 25 | -4.6% | -10.5% | ||
| Q2 25 | -6.4% | -10.2% | ||
| Q1 25 | 19.5% | -10.4% | ||
| Q4 24 | -27.5% | -3.2% | ||
| Q3 24 | -60.0% | -6.0% | ||
| Q2 24 | -32.7% | -15.0% | ||
| Q1 24 | -0.8% | 310.0% |
| Q4 25 | $0.03 | $-0.13 | ||
| Q3 25 | $-0.03 | $-0.20 | ||
| Q2 25 | $-0.03 | $-0.19 | ||
| Q1 25 | $0.25 | $-0.19 | ||
| Q4 24 | $-0.14 | $-0.34 | ||
| Q3 24 | $-0.14 | $-0.13 | ||
| Q2 24 | $-0.08 | $-0.24 | ||
| Q1 24 | $0.00 | $4.25 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $306.7M | $27.3M |
| Total DebtLower is stronger | $91.9M | $642.4M |
| Stockholders' EquityBook value | $543.5M | $880.8M |
| Total Assets | $771.0M | $1.9B |
| Debt / EquityLower = less leverage | 0.17× | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $306.7M | $27.3M | ||
| Q3 25 | $301.8M | $22.6M | ||
| Q2 25 | $316.7M | $29.1M | ||
| Q1 25 | $272.0M | $87.5M | ||
| Q4 24 | $273.9M | $46.3M | ||
| Q3 24 | $410.9M | $43.1M | ||
| Q2 24 | $441.9M | $43.8M | ||
| Q1 24 | $498.4M | $389.7M |
| Q4 25 | $91.9M | $642.4M | ||
| Q3 25 | — | $535.4M | ||
| Q2 25 | — | $513.1M | ||
| Q1 25 | — | $515.8M | ||
| Q4 24 | — | $418.0M | ||
| Q3 24 | — | $345.2M | ||
| Q2 24 | — | $297.4M | ||
| Q1 24 | — | $298.7M |
| Q4 25 | $543.5M | $880.8M | ||
| Q3 25 | $537.6M | $892.7M | ||
| Q2 25 | $538.6M | $902.0M | ||
| Q1 25 | $540.2M | $910.5M | ||
| Q4 24 | $514.8M | $918.6M | ||
| Q3 24 | $540.2M | $925.4M | ||
| Q2 24 | $560.7M | $933.1M | ||
| Q1 24 | $568.3M | $871.6M |
| Q4 25 | $771.0M | $1.9B | ||
| Q3 25 | $768.9M | $1.9B | ||
| Q2 25 | $775.5M | $1.8B | ||
| Q1 25 | $801.6M | $1.8B | ||
| Q4 24 | $756.4M | $1.7B | ||
| Q3 24 | $707.6M | $1.7B | ||
| Q2 24 | $753.6M | $1.7B | ||
| Q1 24 | $631.7M | $1.4B |
| Q4 25 | 0.17× | 0.73× | ||
| Q3 25 | — | 0.60× | ||
| Q2 25 | — | 0.57× | ||
| Q1 25 | — | 0.57× | ||
| Q4 24 | — | 0.46× | ||
| Q3 24 | — | 0.37× | ||
| Q2 24 | — | 0.32× | ||
| Q1 24 | — | 0.34× |
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 | $75.2M | $28.8M |
| Free Cash FlowOCF − Capex | — | $-78.6M |
| FCF MarginFCF / Revenue | — | -85.8% |
| Capex IntensityCapex / Revenue | — | 117.2% |
| Cash ConversionOCF / Net Profit | 22.01× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-257.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $28.8M | ||
| Q3 25 | $9.5M | $30.7M | ||
| Q2 25 | $50.1M | $20.9M | ||
| Q1 25 | $2.4M | $20.5M | ||
| Q4 24 | $50.1M | $20.6M | ||
| Q3 24 | $-593.0K | $24.3M | ||
| Q2 24 | $16.1M | $2.5M | ||
| Q1 24 | $54.8M | $15.2M |
| Q4 25 | — | $-78.6M | ||
| Q3 25 | — | $-51.4M | ||
| Q2 25 | — | $-65.3M | ||
| Q1 25 | $335.0K | $-62.7M | ||
| Q4 24 | $-98.5M | $-72.0M | ||
| Q3 24 | $-2.8M | $-51.3M | ||
| Q2 24 | $-126.7M | $-78.3M | ||
| Q1 24 | $54.6M | $-54.9M |
| Q4 25 | — | -85.8% | ||
| Q3 25 | — | -57.2% | ||
| Q2 25 | — | -73.7% | ||
| Q1 25 | 0.3% | -71.3% | ||
| Q4 24 | -201.8% | -84.3% | ||
| Q3 24 | -12.1% | -58.5% | ||
| Q2 24 | -490.5% | -91.3% | ||
| Q1 24 | 224.4% | -79.3% |
| Q4 25 | — | 117.2% | ||
| Q3 25 | — | 91.4% | ||
| Q2 25 | — | 97.3% | ||
| Q1 25 | 1.7% | 94.7% | ||
| Q4 24 | 304.4% | 108.4% | ||
| Q3 24 | 9.6% | 86.2% | ||
| Q2 24 | 553.0% | 94.2% | ||
| Q1 24 | 1.1% | 101.2% |
| Q4 25 | 22.01× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.10× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.07× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ACTG
| Energy Operations | $16.0M | 32% |
| Transportation Safety | $10.4M | 21% |
| Office Storage And Display Solutions | $8.4M | 17% |
| Printers Consumables And Parts | $6.5M | 13% |
| Natural Gas Reserves | $5.1M | 10% |
| Natural Gas Liquids Reserves | $3.3M | 7% |
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% |
