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Side-by-side financial comparison of Cipher Mining Inc. (CIFR) 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 $59.7M, roughly 1.5× Cipher Mining Inc.). SHENANDOAH TELECOMMUNICATIONS CO runs the higher net margin — -5.9% vs -1229.6%, a 1223.7% gap on every dollar of revenue. On growth, Cipher Mining Inc. posted the faster year-over-year revenue change (41.4% vs 7.2%). SHENANDOAH TELECOMMUNICATIONS CO produced more free cash flow last quarter ($-78.6M vs $-695.9M). Over the past eight quarters, SHENANDOAH TELECOMMUNICATIONS CO's revenue compounded faster (15.0% CAGR vs 11.4%).
Cipher Mining, Inc. operates as a Bitcoin mining ecosystem in the United States. The firm is developing a cryptocurrency business.
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.
CIFR vs SHEN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $59.7M | $91.6M |
| Net Profit | $-734.2M | $-5.4M |
| Gross Margin | 59.4% | — |
| Operating Margin | -503.4% | -1.0% |
| Net Margin | -1229.6% | -5.9% |
| Revenue YoY | 41.4% | 7.2% |
| Net Profit YoY | -4293.1% | -95.8% |
| EPS (diluted) | $-1.91 | $-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 | $59.7M | $91.6M | ||
| Q3 25 | $71.7M | $89.8M | ||
| Q2 25 | $43.6M | $88.6M | ||
| Q1 25 | $49.0M | $87.9M | ||
| Q4 24 | $42.2M | $85.4M | ||
| Q3 24 | $24.1M | $87.6M | ||
| Q2 24 | $36.8M | $85.8M | ||
| Q1 24 | $48.1M | $69.2M |
| Q4 25 | $-734.2M | $-5.4M | ||
| Q3 25 | $-3.3M | $-9.4M | ||
| Q2 25 | $-45.8M | $-9.0M | ||
| Q1 25 | $-39.0M | $-9.1M | ||
| Q4 24 | $17.5M | $-2.7M | ||
| Q3 24 | $-86.8M | $-5.3M | ||
| Q2 24 | $-15.3M | $-12.9M | ||
| Q1 24 | $39.9M | $214.7M |
| Q4 25 | 59.4% | — | ||
| Q3 25 | 62.7% | — | ||
| Q2 25 | 64.8% | — | ||
| Q1 25 | 69.6% | — | ||
| Q4 24 | 56.9% | — | ||
| Q3 24 | 37.5% | — | ||
| Q2 24 | 61.2% | — | ||
| Q1 24 | 69.2% | — |
| Q4 25 | -503.4% | -1.0% | ||
| Q3 25 | -52.5% | -8.0% | ||
| Q2 25 | -103.9% | -10.3% | ||
| Q1 25 | -77.8% | -6.9% | ||
| Q4 24 | 40.5% | -6.7% | ||
| Q3 24 | -379.2% | -4.8% | ||
| Q2 24 | -43.9% | -18.5% | ||
| Q1 24 | 97.2% | -4.0% |
| Q4 25 | -1229.6% | -5.9% | ||
| Q3 25 | -4.6% | -10.5% | ||
| Q2 25 | -105.1% | -10.2% | ||
| Q1 25 | -79.6% | -10.4% | ||
| Q4 24 | 41.5% | -3.2% | ||
| Q3 24 | -359.9% | -6.0% | ||
| Q2 24 | -41.5% | -15.0% | ||
| Q1 24 | 82.9% | 310.0% |
| Q4 25 | $-1.91 | $-0.13 | ||
| Q3 25 | $-0.01 | $-0.20 | ||
| Q2 25 | $-0.12 | $-0.19 | ||
| Q1 25 | $-0.11 | $-0.19 | ||
| Q4 24 | $0.04 | $-0.34 | ||
| Q3 24 | $-0.26 | $-0.13 | ||
| Q2 24 | $-0.05 | $-0.24 | ||
| Q1 24 | $0.13 | $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 | $628.3M | $27.3M |
| Total DebtLower is stronger | $2.7B | $642.4M |
| Stockholders' EquityBook value | $805.5M | $880.8M |
| Total Assets | $4.3B | $1.9B |
| Debt / EquityLower = less leverage | 3.37× | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $628.3M | $27.3M | ||
| Q3 25 | $1.2B | $22.6M | ||
| Q2 25 | $62.7M | $29.1M | ||
| Q1 25 | $23.2M | $87.5M | ||
| Q4 24 | $5.6M | $46.3M | ||
| Q3 24 | $25.3M | $43.1M | ||
| Q2 24 | $122.6M | $43.8M | ||
| Q1 24 | $88.7M | $389.7M |
| Q4 25 | $2.7B | $642.4M | ||
| Q3 25 | $1.0B | $535.4M | ||
| Q2 25 | $167.1M | $513.1M | ||
| Q1 25 | — | $515.8M | ||
| Q4 24 | $0 | $418.0M | ||
| Q3 24 | — | $345.2M | ||
| Q2 24 | — | $297.4M | ||
| Q1 24 | — | $298.7M |
| Q4 25 | $805.5M | $880.8M | ||
| Q3 25 | $783.2M | $892.7M | ||
| Q2 25 | $748.9M | $902.0M | ||
| Q1 25 | $734.8M | $910.5M | ||
| Q4 24 | $682.0M | $918.6M | ||
| Q3 24 | $672.0M | $925.4M | ||
| Q2 24 | $690.8M | $933.1M | ||
| Q1 24 | $600.9M | $871.6M |
| Q4 25 | $4.3B | $1.9B | ||
| Q3 25 | $2.8B | $1.9B | ||
| Q2 25 | $1.0B | $1.8B | ||
| Q1 25 | $913.8M | $1.8B | ||
| Q4 24 | $855.4M | $1.7B | ||
| Q3 24 | $775.4M | $1.7B | ||
| Q2 24 | $775.6M | $1.7B | ||
| Q1 24 | $677.1M | $1.4B |
| Q4 25 | 3.37× | 0.73× | ||
| Q3 25 | 1.31× | 0.60× | ||
| Q2 25 | 0.22× | 0.57× | ||
| Q1 25 | — | 0.57× | ||
| Q4 24 | 0.00× | 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 | $-207.9M | $28.8M |
| Free Cash FlowOCF − Capex | $-695.9M | $-78.6M |
| FCF MarginFCF / Revenue | -1165.4% | -85.8% |
| Capex IntensityCapex / Revenue | 817.1% | 117.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-1.1B | $-257.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-207.9M | $28.8M | ||
| Q3 25 | $-50.1M | $30.7M | ||
| Q2 25 | $-56.2M | $20.9M | ||
| Q1 25 | $-47.2M | $20.5M | ||
| Q4 24 | $-87.5M | $20.6M | ||
| Q3 24 | $-6.5M | $24.3M | ||
| Q2 24 | $-25.4M | $2.5M | ||
| Q1 24 | $-26.6M | $15.2M |
| Q4 25 | $-695.9M | $-78.6M | ||
| Q3 25 | $-256.2M | $-51.4M | ||
| Q2 25 | $-87.5M | $-65.3M | ||
| Q1 25 | $-71.8M | $-62.7M | ||
| Q4 24 | $-227.0M | $-72.0M | ||
| Q3 24 | $-83.2M | $-51.3M | ||
| Q2 24 | $-33.2M | $-78.3M | ||
| Q1 24 | $-34.5M | $-54.9M |
| Q4 25 | -1165.4% | -85.8% | ||
| Q3 25 | -357.3% | -57.2% | ||
| Q2 25 | -200.9% | -73.7% | ||
| Q1 25 | -146.7% | -71.3% | ||
| Q4 24 | -537.6% | -84.3% | ||
| Q3 24 | -345.0% | -58.5% | ||
| Q2 24 | -90.2% | -91.3% | ||
| Q1 24 | -71.7% | -79.3% |
| Q4 25 | 817.1% | 117.2% | ||
| Q3 25 | 287.5% | 91.4% | ||
| Q2 25 | 71.8% | 97.3% | ||
| Q1 25 | 50.2% | 94.7% | ||
| Q4 24 | 330.4% | 108.4% | ||
| Q3 24 | 317.8% | 86.2% | ||
| Q2 24 | 21.4% | 94.2% | ||
| Q1 24 | 16.4% | 101.2% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -5.00× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.67× | 0.07× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CIFR
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% |
