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Side-by-side financial comparison of Donnelley Financial Solutions, Inc. (DFIN) and SHENANDOAH TELECOMMUNICATIONS CO (SHEN). Click either name above to swap in a different company.
Donnelley Financial Solutions, Inc. is the larger business by last-quarter revenue ($172.5M vs $91.6M, roughly 1.9× SHENANDOAH TELECOMMUNICATIONS CO). Donnelley Financial Solutions, Inc. runs the higher net margin — 3.6% vs -5.9%, a 9.5% gap on every dollar of revenue. On growth, Donnelley Financial Solutions, Inc. posted the faster year-over-year revenue change (10.4% vs 7.2%). Donnelley Financial Solutions, Inc. produced more free cash flow last quarter ($47.9M vs $-78.6M). Over the past eight quarters, SHENANDOAH TELECOMMUNICATIONS CO's revenue compounded faster (15.0% CAGR vs -7.9%).
Donnelley Financial Solutions (DFIN) is a financial compliance company based in Chicago, Illinois, United States. The company provides software as a service (SaaS) products, software-enabled services (SeS), print, and compliance services related to US Securities and Exchange Commission regulations to companies in capital and investment 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.
DFIN vs SHEN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $172.5M | $91.6M |
| Net Profit | $6.2M | $-5.4M |
| Gross Margin | — | — |
| Operating Margin | 8.3% | -1.0% |
| Net Margin | 3.6% | -5.9% |
| Revenue YoY | 10.4% | 7.2% |
| Net Profit YoY | -1.6% | -95.8% |
| EPS (diluted) | $0.31 | $-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 | $172.5M | $91.6M | ||
| Q3 25 | $175.3M | $89.8M | ||
| Q2 25 | $218.1M | $88.6M | ||
| Q1 25 | $201.1M | $87.9M | ||
| Q4 24 | $156.3M | $85.4M | ||
| Q3 24 | $179.5M | $87.6M | ||
| Q2 24 | $242.7M | $85.8M | ||
| Q1 24 | $203.4M | $69.2M |
| Q4 25 | $6.2M | $-5.4M | ||
| Q3 25 | $-40.9M | $-9.4M | ||
| Q2 25 | $36.1M | $-9.0M | ||
| Q1 25 | $31.0M | $-9.1M | ||
| Q4 24 | $6.3M | $-2.7M | ||
| Q3 24 | $8.7M | $-5.3M | ||
| Q2 24 | $44.1M | $-12.9M | ||
| Q1 24 | $33.3M | $214.7M |
| Q4 25 | 8.3% | -1.0% | ||
| Q3 25 | 16.1% | -8.0% | ||
| Q2 25 | 24.2% | -10.3% | ||
| Q1 25 | 22.8% | -6.9% | ||
| Q4 24 | 6.0% | -6.7% | ||
| Q3 24 | 10.1% | -4.8% | ||
| Q2 24 | 26.6% | -18.5% | ||
| Q1 24 | 21.9% | -4.0% |
| Q4 25 | 3.6% | -5.9% | ||
| Q3 25 | -23.3% | -10.5% | ||
| Q2 25 | 16.6% | -10.2% | ||
| Q1 25 | 15.4% | -10.4% | ||
| Q4 24 | 4.0% | -3.2% | ||
| Q3 24 | 4.8% | -6.0% | ||
| Q2 24 | 18.2% | -15.0% | ||
| Q1 24 | 16.4% | 310.0% |
| Q4 25 | $0.31 | $-0.13 | ||
| Q3 25 | $-1.49 | $-0.20 | ||
| Q2 25 | $1.28 | $-0.19 | ||
| Q1 25 | $1.05 | $-0.19 | ||
| Q4 24 | $0.21 | $-0.34 | ||
| Q3 24 | $0.29 | $-0.13 | ||
| Q2 24 | $1.47 | $-0.24 | ||
| Q1 24 | $1.09 | $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 | $24.5M | $27.3M |
| Total DebtLower is stronger | $171.3M | $642.4M |
| Stockholders' EquityBook value | $379.2M | $880.8M |
| Total Assets | $800.4M | $1.9B |
| Debt / EquityLower = less leverage | 0.45× | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.5M | $27.3M | ||
| Q3 25 | $22.7M | $22.6M | ||
| Q2 25 | $33.8M | $29.1M | ||
| Q1 25 | $16.2M | $87.5M | ||
| Q4 24 | $57.3M | $46.3M | ||
| Q3 24 | $33.6M | $43.1M | ||
| Q2 24 | $35.0M | $43.8M | ||
| Q1 24 | $43.7M | $389.7M |
| Q4 25 | $171.3M | $642.4M | ||
| Q3 25 | $154.7M | $535.4M | ||
| Q2 25 | $190.1M | $513.1M | ||
| Q1 25 | $189.5M | $515.8M | ||
| Q4 24 | $124.7M | $418.0M | ||
| Q3 24 | — | $345.2M | ||
| Q2 24 | — | $297.4M | ||
| Q1 24 | — | $298.7M |
| Q4 25 | $379.2M | $880.8M | ||
| Q3 25 | $423.1M | $892.7M | ||
| Q2 25 | $432.1M | $902.0M | ||
| Q1 25 | $419.9M | $910.5M | ||
| Q4 24 | $436.1M | $918.6M | ||
| Q3 24 | $444.5M | $925.4M | ||
| Q2 24 | $441.5M | $933.1M | ||
| Q1 24 | $408.9M | $871.6M |
| Q4 25 | $800.4M | $1.9B | ||
| Q3 25 | $816.3M | $1.9B | ||
| Q2 25 | $874.7M | $1.8B | ||
| Q1 25 | $852.8M | $1.8B | ||
| Q4 24 | $841.6M | $1.7B | ||
| Q3 24 | $843.6M | $1.7B | ||
| Q2 24 | $882.9M | $1.7B | ||
| Q1 24 | $867.8M | $1.4B |
| Q4 25 | 0.45× | 0.73× | ||
| Q3 25 | 0.37× | 0.60× | ||
| Q2 25 | 0.44× | 0.57× | ||
| Q1 25 | 0.45× | 0.57× | ||
| Q4 24 | 0.29× | 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 | $59.8M | $28.8M |
| Free Cash FlowOCF − Capex | $47.9M | $-78.6M |
| FCF MarginFCF / Revenue | 27.8% | -85.8% |
| Capex IntensityCapex / Revenue | 6.9% | 117.2% |
| Cash ConversionOCF / Net Profit | 9.65× | — |
| TTM Free Cash FlowTrailing 4 quarters | $107.8M | $-257.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $59.8M | $28.8M | ||
| Q3 25 | $74.4M | $30.7M | ||
| Q2 25 | $68.4M | $20.9M | ||
| Q1 25 | $-37.7M | $20.5M | ||
| Q4 24 | $56.4M | $20.6M | ||
| Q3 24 | $86.4M | $24.3M | ||
| Q2 24 | $56.2M | $2.5M | ||
| Q1 24 | $-27.9M | $15.2M |
| Q4 25 | $47.9M | $-78.6M | ||
| Q3 25 | $59.2M | $-51.4M | ||
| Q2 25 | $51.7M | $-65.3M | ||
| Q1 25 | $-51.0M | $-62.7M | ||
| Q4 24 | $41.3M | $-72.0M | ||
| Q3 24 | $67.3M | $-51.3M | ||
| Q2 24 | $36.8M | $-78.3M | ||
| Q1 24 | $-40.2M | $-54.9M |
| Q4 25 | 27.8% | -85.8% | ||
| Q3 25 | 33.8% | -57.2% | ||
| Q2 25 | 23.7% | -73.7% | ||
| Q1 25 | -25.4% | -71.3% | ||
| Q4 24 | 26.4% | -84.3% | ||
| Q3 24 | 37.5% | -58.5% | ||
| Q2 24 | 15.2% | -91.3% | ||
| Q1 24 | -19.8% | -79.3% |
| Q4 25 | 6.9% | 117.2% | ||
| Q3 25 | 8.7% | 91.4% | ||
| Q2 25 | 7.7% | 97.3% | ||
| Q1 25 | 6.6% | 94.7% | ||
| Q4 24 | 9.7% | 108.4% | ||
| Q3 24 | 10.6% | 86.2% | ||
| Q2 24 | 8.0% | 94.2% | ||
| Q1 24 | 6.0% | 101.2% |
| Q4 25 | 9.65× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.89× | — | ||
| Q1 25 | -1.22× | — | ||
| Q4 24 | 8.95× | — | ||
| Q3 24 | 9.93× | — | ||
| Q2 24 | 1.27× | — | ||
| Q1 24 | -0.84× | 0.07× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DFIN
| Technology Service | $68.0M | 39% |
| Capital Markets Compliance And Communications Management | $61.6M | 36% |
| Investment Companies Software Solutions | $30.9M | 18% |
| Print And Distribution Service | $13.6M | 8% |
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% |
