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Side-by-side financial comparison of FIRST MID BANCSHARES, INC. (FMBH) 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 $88.2M, roughly 1.0× FIRST MID BANCSHARES, INC.). FIRST MID BANCSHARES, INC. runs the higher net margin — 26.8% vs -5.9%, a 32.7% gap on every dollar of revenue. On growth, SHENANDOAH TELECOMMUNICATIONS CO posted the faster year-over-year revenue change (7.2% vs 3.4%). FIRST MID BANCSHARES, INC. produced more free cash flow last quarter ($124.0M vs $-78.6M). Over the past eight quarters, SHENANDOAH TELECOMMUNICATIONS CO's revenue compounded faster (15.0% CAGR vs 5.0%).
First Mid Bancshares Inc. is a U.S.-headquartered regional financial services holding company. It provides full-range retail and commercial banking products, wealth management, insurance solutions, and agricultural financing, mainly serving individual consumers, small and medium-sized enterprises, and agricultural clients across multiple Midwestern states including Illinois, Missouri, and Indiana.
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.
FMBH vs SHEN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $88.2M | $91.6M |
| Net Profit | $23.7M | $-5.4M |
| Gross Margin | — | — |
| Operating Margin | 34.0% | -1.0% |
| Net Margin | 26.8% | -5.9% |
| Revenue YoY | 3.4% | 7.2% |
| Net Profit YoY | 23.5% | -95.8% |
| EPS (diluted) | $0.98 | $-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 | $88.2M | $91.6M | ||
| Q3 25 | $89.3M | $89.8M | ||
| Q2 25 | $87.5M | $88.6M | ||
| Q1 25 | $84.3M | $87.9M | ||
| Q4 24 | $85.3M | $85.4M | ||
| Q3 24 | $80.6M | $87.6M | ||
| Q2 24 | $79.2M | $85.8M | ||
| Q1 24 | $79.9M | $69.2M |
| Q4 25 | $23.7M | $-5.4M | ||
| Q3 25 | $22.5M | $-9.4M | ||
| Q2 25 | $23.4M | $-9.0M | ||
| Q1 25 | $22.2M | $-9.1M | ||
| Q4 24 | $19.2M | $-2.7M | ||
| Q3 24 | $19.5M | $-5.3M | ||
| Q2 24 | $19.7M | $-12.9M | ||
| Q1 24 | $20.5M | $214.7M |
| Q4 25 | 34.0% | -1.0% | ||
| Q3 25 | 32.2% | -8.0% | ||
| Q2 25 | 34.4% | -10.3% | ||
| Q1 25 | 33.4% | -6.9% | ||
| Q4 24 | 29.7% | -6.7% | ||
| Q3 24 | 31.5% | -4.8% | ||
| Q2 24 | 33.7% | -18.5% | ||
| Q1 24 | 33.7% | -4.0% |
| Q4 25 | 26.8% | -5.9% | ||
| Q3 25 | 25.2% | -10.5% | ||
| Q2 25 | 26.8% | -10.2% | ||
| Q1 25 | 26.3% | -10.4% | ||
| Q4 24 | 22.5% | -3.2% | ||
| Q3 24 | 24.2% | -6.0% | ||
| Q2 24 | 24.9% | -15.0% | ||
| Q1 24 | 25.6% | 310.0% |
| Q4 25 | $0.98 | $-0.13 | ||
| Q3 25 | $0.94 | $-0.20 | ||
| Q2 25 | $0.98 | $-0.19 | ||
| Q1 25 | $0.93 | $-0.19 | ||
| Q4 24 | $0.81 | $-0.34 | ||
| Q3 24 | $0.81 | $-0.13 | ||
| Q2 24 | $0.82 | $-0.24 | ||
| Q1 24 | $0.86 | $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 | — | $27.3M |
| Total DebtLower is stronger | $354.5M | $642.4M |
| Stockholders' EquityBook value | $958.7M | $880.8M |
| Total Assets | $8.0B | $1.9B |
| Debt / EquityLower = less leverage | 0.37× | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $27.3M | ||
| Q3 25 | — | $22.6M | ||
| Q2 25 | — | $29.1M | ||
| Q1 25 | — | $87.5M | ||
| Q4 24 | — | $46.3M | ||
| Q3 24 | — | $43.1M | ||
| Q2 24 | — | $43.8M | ||
| Q1 24 | — | $389.7M |
| Q4 25 | $354.5M | $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 | $958.7M | $880.8M | ||
| Q3 25 | $932.2M | $892.7M | ||
| Q2 25 | $894.1M | $902.0M | ||
| Q1 25 | $870.9M | $910.5M | ||
| Q4 24 | $846.4M | $918.6M | ||
| Q3 24 | $858.5M | $925.4M | ||
| Q2 24 | $813.6M | $933.1M | ||
| Q1 24 | $798.0M | $871.6M |
| Q4 25 | $8.0B | $1.9B | ||
| Q3 25 | $7.8B | $1.9B | ||
| Q2 25 | $7.7B | $1.8B | ||
| Q1 25 | $7.6B | $1.8B | ||
| Q4 24 | $7.5B | $1.7B | ||
| Q3 24 | $7.6B | $1.7B | ||
| Q2 24 | $7.6B | $1.7B | ||
| Q1 24 | $7.7B | $1.4B |
| Q4 25 | 0.37× | 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 | $130.9M | $28.8M |
| Free Cash FlowOCF − Capex | $124.0M | $-78.6M |
| FCF MarginFCF / Revenue | 140.6% | -85.8% |
| Capex IntensityCapex / Revenue | 7.8% | 117.2% |
| Cash ConversionOCF / Net Profit | 5.53× | — |
| TTM Free Cash FlowTrailing 4 quarters | $207.9M | $-257.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $130.9M | $28.8M | ||
| Q3 25 | $33.0M | $30.7M | ||
| Q2 25 | $7.7M | $20.9M | ||
| Q1 25 | $47.9M | $20.5M | ||
| Q4 24 | $124.4M | $20.6M | ||
| Q3 24 | $33.1M | $24.3M | ||
| Q2 24 | $24.0M | $2.5M | ||
| Q1 24 | $29.0M | $15.2M |
| Q4 25 | $124.0M | $-78.6M | ||
| Q3 25 | $31.9M | $-51.4M | ||
| Q2 25 | $6.0M | $-65.3M | ||
| Q1 25 | $46.0M | $-62.7M | ||
| Q4 24 | $119.5M | $-72.0M | ||
| Q3 24 | $32.0M | $-51.3M | ||
| Q2 24 | $22.9M | $-78.3M | ||
| Q1 24 | $27.6M | $-54.9M |
| Q4 25 | 140.6% | -85.8% | ||
| Q3 25 | 35.8% | -57.2% | ||
| Q2 25 | 6.8% | -73.7% | ||
| Q1 25 | 54.5% | -71.3% | ||
| Q4 24 | 140.0% | -84.3% | ||
| Q3 24 | 39.7% | -58.5% | ||
| Q2 24 | 28.9% | -91.3% | ||
| Q1 24 | 34.5% | -79.3% |
| Q4 25 | 7.8% | 117.2% | ||
| Q3 25 | 1.2% | 91.4% | ||
| Q2 25 | 2.0% | 97.3% | ||
| Q1 25 | 2.3% | 94.7% | ||
| Q4 24 | 5.8% | 108.4% | ||
| Q3 24 | 1.4% | 86.2% | ||
| Q2 24 | 1.4% | 94.2% | ||
| Q1 24 | 1.9% | 101.2% |
| Q4 25 | 5.53× | — | ||
| Q3 25 | 1.47× | — | ||
| Q2 25 | 0.33× | — | ||
| Q1 25 | 2.16× | — | ||
| Q4 24 | 6.49× | — | ||
| Q3 24 | 1.70× | — | ||
| Q2 24 | 1.21× | — | ||
| Q1 24 | 1.42× | 0.07× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FMBH
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% |
