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Side-by-side financial comparison of SAUL CENTERS, INC. (BFS) 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 $75.1M, roughly 1.2× SAUL CENTERS, INC.). SAUL CENTERS, INC. runs the higher net margin — 8.7% vs -5.9%, a 14.5% gap on every dollar of revenue. On growth, SAUL CENTERS, INC. posted the faster year-over-year revenue change (10.6% vs 7.2%). Over the past eight quarters, SHENANDOAH TELECOMMUNICATIONS CO's revenue compounded faster (15.0% CAGR vs 6.2%).
Saul Centers, Inc. is a self-administered real estate investment trust (REIT) headquartered in the United States. It primarily owns, operates, and develops high-quality shopping centers, mixed-use properties, and multifamily residential assets, with its core portfolio concentrated in the Washington D.C. metropolitan area and other select high-growth U.S. regional markets.
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.
BFS vs SHEN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $91.6M |
| Net Profit | $6.5M | $-5.4M |
| Gross Margin | — | — |
| Operating Margin | 65.4% | -1.0% |
| Net Margin | 8.7% | -5.9% |
| Revenue YoY | 10.6% | 7.2% |
| Net Profit YoY | -19.6% | -95.8% |
| EPS (diluted) | $0.15 | $-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 | $75.1M | $91.6M | ||
| Q3 25 | $72.0M | $89.8M | ||
| Q2 25 | $70.8M | $88.6M | ||
| Q1 25 | $71.9M | $87.9M | ||
| Q4 24 | $67.9M | $85.4M | ||
| Q3 24 | $67.3M | $87.6M | ||
| Q2 24 | $66.9M | $85.8M | ||
| Q1 24 | $66.7M | $69.2M |
| Q4 25 | $6.5M | $-5.4M | ||
| Q3 25 | $10.5M | $-9.4M | ||
| Q2 25 | $10.7M | $-9.0M | ||
| Q1 25 | $9.8M | $-9.1M | ||
| Q4 24 | $8.1M | $-2.7M | ||
| Q3 24 | $14.5M | $-5.3M | ||
| Q2 24 | $14.4M | $-12.9M | ||
| Q1 24 | $13.6M | $214.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 73.6% | — | ||
| Q2 24 | 74.2% | — | ||
| Q1 24 | 72.8% | — |
| Q4 25 | 65.4% | -1.0% | ||
| Q3 25 | 69.1% | -8.0% | ||
| Q2 25 | 68.7% | -10.3% | ||
| Q1 25 | 66.5% | -6.9% | ||
| Q4 24 | 82.9% | -6.7% | ||
| Q3 24 | 72.8% | -4.8% | ||
| Q2 24 | 75.0% | -18.5% | ||
| Q1 24 | 72.4% | -4.0% |
| Q4 25 | 8.7% | -5.9% | ||
| Q3 25 | 14.6% | -10.5% | ||
| Q2 25 | 15.1% | -10.2% | ||
| Q1 25 | 13.6% | -10.4% | ||
| Q4 24 | 11.9% | -3.2% | ||
| Q3 24 | 21.5% | -6.0% | ||
| Q2 24 | 21.6% | -15.0% | ||
| Q1 24 | 20.4% | 310.0% |
| Q4 25 | $0.15 | $-0.13 | ||
| Q3 25 | $0.32 | $-0.20 | ||
| Q2 25 | $0.33 | $-0.19 | ||
| Q1 25 | $0.29 | $-0.19 | ||
| Q4 24 | $0.22 | $-0.34 | ||
| Q3 24 | $0.48 | $-0.13 | ||
| Q2 24 | $0.48 | $-0.24 | ||
| Q1 24 | $0.45 | $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 | $8.7M | $27.3M |
| Total DebtLower is stronger | $468.4M | $642.4M |
| Stockholders' EquityBook value | $307.8M | $880.8M |
| Total Assets | $2.2B | $1.9B |
| Debt / EquityLower = less leverage | 1.52× | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.7M | $27.3M | ||
| Q3 25 | $11.8M | $22.6M | ||
| Q2 25 | $5.3M | $29.1M | ||
| Q1 25 | $6.5M | $87.5M | ||
| Q4 24 | $10.3M | $46.3M | ||
| Q3 24 | $7.2M | $43.1M | ||
| Q2 24 | $6.9M | $43.8M | ||
| Q1 24 | $7.1M | $389.7M |
| Q4 25 | $468.4M | $642.4M | ||
| Q3 25 | $1.6B | $535.4M | ||
| Q2 25 | $1.6B | $513.1M | ||
| Q1 25 | $1.5B | $515.8M | ||
| Q4 24 | $455.8M | $418.0M | ||
| Q3 24 | $1.5B | $345.2M | ||
| Q2 24 | $1.4B | $297.4M | ||
| Q1 24 | $1.4B | $298.7M |
| Q4 25 | $307.8M | $880.8M | ||
| Q3 25 | $316.6M | $892.7M | ||
| Q2 25 | $322.4M | $902.0M | ||
| Q1 25 | $328.4M | $910.5M | ||
| Q4 24 | $335.8M | $918.6M | ||
| Q3 24 | $341.8M | $925.4M | ||
| Q2 24 | $345.7M | $933.1M | ||
| Q1 24 | $347.1M | $871.6M |
| Q4 25 | $2.2B | $1.9B | ||
| Q3 25 | $2.2B | $1.9B | ||
| Q2 25 | $2.1B | $1.8B | ||
| Q1 25 | $2.1B | $1.8B | ||
| Q4 24 | $2.1B | $1.7B | ||
| Q3 24 | $2.1B | $1.7B | ||
| Q2 24 | $2.1B | $1.7B | ||
| Q1 24 | $2.0B | $1.4B |
| Q4 25 | 1.52× | 0.73× | ||
| Q3 25 | 5.02× | 0.60× | ||
| Q2 25 | 4.85× | 0.57× | ||
| Q1 25 | 4.70× | 0.57× | ||
| Q4 24 | 1.36× | 0.46× | ||
| Q3 24 | 4.37× | 0.37× | ||
| Q2 24 | 4.17× | 0.32× | ||
| Q1 24 | 4.06× | 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 | $99.8M | $28.8M |
| Free Cash FlowOCF − Capex | — | $-78.6M |
| FCF MarginFCF / Revenue | — | -85.8% |
| Capex IntensityCapex / Revenue | — | 117.2% |
| Cash ConversionOCF / Net Profit | 15.35× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-257.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $99.8M | $28.8M | ||
| Q3 25 | $20.6M | $30.7M | ||
| Q2 25 | $26.6M | $20.9M | ||
| Q1 25 | $30.4M | $20.5M | ||
| Q4 24 | $121.2M | $20.6M | ||
| Q3 24 | $26.5M | $24.3M | ||
| Q2 24 | $32.1M | $2.5M | ||
| Q1 24 | $33.8M | $15.2M |
| Q4 25 | — | $-78.6M | ||
| Q3 25 | — | $-51.4M | ||
| Q2 25 | — | $-65.3M | ||
| Q1 25 | — | $-62.7M | ||
| Q4 24 | — | $-72.0M | ||
| Q3 24 | $-28.3M | $-51.3M | ||
| Q2 24 | $-12.5M | $-78.3M | ||
| Q1 24 | $-11.7M | $-54.9M |
| Q4 25 | — | -85.8% | ||
| Q3 25 | — | -57.2% | ||
| Q2 25 | — | -73.7% | ||
| Q1 25 | — | -71.3% | ||
| Q4 24 | — | -84.3% | ||
| Q3 24 | -42.1% | -58.5% | ||
| Q2 24 | -18.7% | -91.3% | ||
| Q1 24 | -17.6% | -79.3% |
| Q4 25 | — | 117.2% | ||
| Q3 25 | — | 91.4% | ||
| Q2 25 | — | 97.3% | ||
| Q1 25 | — | 94.7% | ||
| Q4 24 | — | 108.4% | ||
| Q3 24 | 81.5% | 86.2% | ||
| Q2 24 | 66.7% | 94.2% | ||
| Q1 24 | 68.3% | 101.2% |
| Q4 25 | 15.35× | — | ||
| Q3 25 | 1.97× | — | ||
| Q2 25 | 2.48× | — | ||
| Q1 25 | 3.10× | — | ||
| Q4 24 | 14.98× | — | ||
| Q3 24 | 1.83× | — | ||
| Q2 24 | 2.22× | — | ||
| Q1 24 | 2.48× | 0.07× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFS
Segment breakdown not available.
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% |
