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Side-by-side financial comparison of 4D Molecular Therapeutics, Inc. (FDMT) 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 $85.1M, roughly 1.1× 4D Molecular Therapeutics, Inc.). 4D Molecular Therapeutics, Inc. runs the higher net margin — 22.8% vs -5.9%, a 28.7% gap on every dollar of revenue. On growth, 4D Molecular Therapeutics, Inc. posted the faster year-over-year revenue change (8508900.0% vs 7.2%). 4D Molecular Therapeutics, Inc. produced more free cash flow last quarter ($28.5M vs $-78.6M). Over the past eight quarters, 4D Molecular Therapeutics, Inc.'s revenue compounded faster (5412.6% CAGR vs 15.0%).
4D Molecular Therapeutics is a clinical-stage biotechnology company specializing in the research and development of targeted adeno-associated virus (AAV) gene therapies. Its core product candidates address unmet medical needs in ophthalmology, cardiology, and pulmonary disease segments, serving global patient populations with rare and common hard-to-treat conditions.
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.
FDMT vs SHEN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $85.1M | $91.6M |
| Net Profit | $19.4M | $-5.4M |
| Gross Margin | — | — |
| Operating Margin | 17.3% | -1.0% |
| Net Margin | 22.8% | -5.9% |
| Revenue YoY | 8508900.0% | 7.2% |
| Net Profit YoY | 139.1% | -95.8% |
| EPS (diluted) | $0.43 | $-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 | $85.1M | $91.6M | ||
| Q3 25 | $90.0K | $89.8M | ||
| Q2 25 | $15.0K | $88.6M | ||
| Q1 25 | $14.0K | $87.9M | ||
| Q4 24 | $1.0K | $85.4M | ||
| Q3 24 | $3.0K | $87.6M | ||
| Q2 24 | $5.0K | $85.8M | ||
| Q1 24 | $28.0K | $69.2M |
| Q4 25 | $19.4M | $-5.4M | ||
| Q3 25 | $-56.9M | $-9.4M | ||
| Q2 25 | $-54.7M | $-9.0M | ||
| Q1 25 | $-48.0M | $-9.1M | ||
| Q4 24 | — | $-2.7M | ||
| Q3 24 | $-43.8M | $-5.3M | ||
| Q2 24 | $-35.0M | $-12.9M | ||
| Q1 24 | $-32.4M | $214.7M |
| Q4 25 | 17.3% | -1.0% | ||
| Q3 25 | -67983.3% | -8.0% | ||
| Q2 25 | -396373.3% | -10.3% | ||
| Q1 25 | -383007.1% | -6.9% | ||
| Q4 24 | — | -6.7% | ||
| Q3 24 | -1704400.0% | -4.8% | ||
| Q2 24 | -849120.0% | -18.5% | ||
| Q1 24 | -136200.0% | -4.0% |
| Q4 25 | 22.8% | -5.9% | ||
| Q3 25 | -63195.6% | -10.5% | ||
| Q2 25 | -364386.7% | -10.2% | ||
| Q1 25 | -342657.1% | -10.4% | ||
| Q4 24 | — | -3.2% | ||
| Q3 24 | -1461433.3% | -6.0% | ||
| Q2 24 | -699060.0% | -15.0% | ||
| Q1 24 | -115717.9% | 310.0% |
| Q4 25 | $0.43 | $-0.13 | ||
| Q3 25 | $-1.01 | $-0.20 | ||
| Q2 25 | $-0.98 | $-0.19 | ||
| Q1 25 | $-0.86 | $-0.19 | ||
| Q4 24 | — | $-0.34 | ||
| Q3 24 | $-0.79 | $-0.13 | ||
| Q2 24 | $-0.63 | $-0.24 | ||
| Q1 24 | $-0.66 | $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 | $402.7M | $27.3M |
| Total DebtLower is stronger | — | $642.4M |
| Stockholders' EquityBook value | $505.7M | $880.8M |
| Total Assets | $566.7M | $1.9B |
| Debt / EquityLower = less leverage | — | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $402.7M | $27.3M | ||
| Q3 25 | $305.1M | $22.6M | ||
| Q2 25 | $293.2M | $29.1M | ||
| Q1 25 | $321.4M | $87.5M | ||
| Q4 24 | $424.9M | $46.3M | ||
| Q3 24 | $501.9M | $43.1M | ||
| Q2 24 | $541.9M | $43.8M | ||
| Q1 24 | $525.9M | $389.7M |
| Q4 25 | — | $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 | $505.7M | $880.8M | ||
| Q3 25 | $369.0M | $892.7M | ||
| Q2 25 | $420.9M | $902.0M | ||
| Q1 25 | $469.7M | $910.5M | ||
| Q4 24 | $510.6M | $918.6M | ||
| Q3 24 | $552.9M | $925.4M | ||
| Q2 24 | $588.3M | $933.1M | ||
| Q1 24 | $600.6M | $871.6M |
| Q4 25 | $566.7M | $1.9B | ||
| Q3 25 | $424.0M | $1.9B | ||
| Q2 25 | $473.6M | $1.8B | ||
| Q1 25 | $515.7M | $1.8B | ||
| Q4 24 | $560.4M | $1.7B | ||
| Q3 24 | $604.0M | $1.7B | ||
| Q2 24 | $620.1M | $1.7B | ||
| Q1 24 | $629.9M | $1.4B |
| Q4 25 | — | 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 | $28.6M | $28.8M |
| Free Cash FlowOCF − Capex | $28.5M | $-78.6M |
| FCF MarginFCF / Revenue | 33.5% | -85.8% |
| Capex IntensityCapex / Revenue | 0.1% | 117.2% |
| Cash ConversionOCF / Net Profit | 1.47× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-109.9M | $-257.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.6M | $28.8M | ||
| Q3 25 | $-46.5M | $30.7M | ||
| Q2 25 | $-43.4M | $20.9M | ||
| Q1 25 | $-47.8M | $20.5M | ||
| Q4 24 | $-134.6M | $20.6M | ||
| Q3 24 | $-29.4M | $24.3M | ||
| Q2 24 | $-30.2M | $2.5M | ||
| Q1 24 | $-29.1M | $15.2M |
| Q4 25 | $28.5M | $-78.6M | ||
| Q3 25 | $-46.6M | $-51.4M | ||
| Q2 25 | $-43.4M | $-65.3M | ||
| Q1 25 | $-48.4M | $-62.7M | ||
| Q4 24 | $-138.4M | $-72.0M | ||
| Q3 24 | $-31.2M | $-51.3M | ||
| Q2 24 | $-30.6M | $-78.3M | ||
| Q1 24 | $-29.8M | $-54.9M |
| Q4 25 | 33.5% | -85.8% | ||
| Q3 25 | -51765.6% | -57.2% | ||
| Q2 25 | -289620.0% | -73.7% | ||
| Q1 25 | -345635.7% | -71.3% | ||
| Q4 24 | -13837100.0% | -84.3% | ||
| Q3 24 | -1038966.7% | -58.5% | ||
| Q2 24 | -611840.0% | -91.3% | ||
| Q1 24 | -106421.4% | -79.3% |
| Q4 25 | 0.1% | 117.2% | ||
| Q3 25 | 101.1% | 91.4% | ||
| Q2 25 | 440.0% | 97.3% | ||
| Q1 25 | 4507.1% | 94.7% | ||
| Q4 24 | 378600.0% | 108.4% | ||
| Q3 24 | 59266.7% | 86.2% | ||
| Q2 24 | 6980.0% | 94.2% | ||
| Q1 24 | 2535.7% | 101.2% |
| Q4 25 | 1.47× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| 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
FDMT
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% |
