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Side-by-side financial comparison of HEARTLAND EXPRESS INC (HTLD) and SHENANDOAH TELECOMMUNICATIONS CO (SHEN). Click either name above to swap in a different company.
HEARTLAND EXPRESS INC is the larger business by last-quarter revenue ($179.4M vs $91.6M, roughly 2.0× SHENANDOAH TELECOMMUNICATIONS CO). SHENANDOAH TELECOMMUNICATIONS CO runs the higher net margin — -5.9% vs -10.8%, a 5.0% gap on every dollar of revenue. On growth, SHENANDOAH TELECOMMUNICATIONS CO posted the faster year-over-year revenue change (7.2% vs -26.1%). HEARTLAND EXPRESS INC produced more free cash flow last quarter ($-44.2M vs $-78.6M). Over the past eight quarters, SHENANDOAH TELECOMMUNICATIONS CO's revenue compounded faster (15.0% CAGR vs -18.5%).
Heartland Express is an American trucking company headquartered in North Liberty, Iowa. The company offers truckload shipping services across the United States.
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.
HTLD vs SHEN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $179.4M | $91.6M |
| Net Profit | $-19.4M | $-5.4M |
| Gross Margin | — | — |
| Operating Margin | -12.7% | -1.0% |
| Net Margin | -10.8% | -5.9% |
| Revenue YoY | -26.1% | 7.2% |
| Net Profit YoY | -949.2% | -95.8% |
| EPS (diluted) | $-0.24 | $-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 | $179.4M | $91.6M | ||
| Q3 25 | $196.5M | $89.8M | ||
| Q2 25 | $210.4M | $88.6M | ||
| Q1 25 | $219.4M | $87.9M | ||
| Q4 24 | $242.6M | $85.4M | ||
| Q3 24 | $259.9M | $87.6M | ||
| Q2 24 | $274.8M | $85.8M | ||
| Q1 24 | $270.3M | $69.2M |
| Q4 25 | $-19.4M | $-5.4M | ||
| Q3 25 | $-8.3M | $-9.4M | ||
| Q2 25 | $-10.9M | $-9.0M | ||
| Q1 25 | $-13.9M | $-9.1M | ||
| Q4 24 | $-1.9M | $-2.7M | ||
| Q3 24 | $-9.3M | $-5.3M | ||
| Q2 24 | $-3.5M | $-12.9M | ||
| Q1 24 | $-15.1M | $214.7M |
| Q4 25 | -12.7% | -1.0% | ||
| Q3 25 | -3.7% | -8.0% | ||
| Q2 25 | -5.9% | -10.3% | ||
| Q1 25 | -6.8% | -6.9% | ||
| Q4 24 | 0.4% | -6.7% | ||
| Q3 24 | -2.7% | -4.8% | ||
| Q2 24 | 0.1% | -18.5% | ||
| Q1 24 | -5.3% | -4.0% |
| Q4 25 | -10.8% | -5.9% | ||
| Q3 25 | -4.2% | -10.5% | ||
| Q2 25 | -5.2% | -10.2% | ||
| Q1 25 | -6.3% | -10.4% | ||
| Q4 24 | -0.8% | -3.2% | ||
| Q3 24 | -3.6% | -6.0% | ||
| Q2 24 | -1.3% | -15.0% | ||
| Q1 24 | -5.6% | 310.0% |
| Q4 25 | $-0.24 | $-0.13 | ||
| Q3 25 | $-0.11 | $-0.20 | ||
| Q2 25 | $-0.14 | $-0.19 | ||
| Q1 25 | $-0.18 | $-0.19 | ||
| Q4 24 | $-0.03 | $-0.34 | ||
| Q3 24 | $-0.12 | $-0.13 | ||
| Q2 24 | $-0.04 | $-0.24 | ||
| Q1 24 | $-0.19 | $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 | $18.5M | $27.3M |
| Total DebtLower is stronger | $154.1M | $642.4M |
| Stockholders' EquityBook value | $755.3M | $880.8M |
| Total Assets | $1.2B | $1.9B |
| Debt / EquityLower = less leverage | 0.20× | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.5M | $27.3M | ||
| Q3 25 | $32.7M | $22.6M | ||
| Q2 25 | $22.9M | $29.1M | ||
| Q1 25 | $23.9M | $87.5M | ||
| Q4 24 | $12.8M | $46.3M | ||
| Q3 24 | $30.7M | $43.1M | ||
| Q2 24 | $23.9M | $43.8M | ||
| Q1 24 | $23.8M | $389.7M |
| Q4 25 | $154.1M | $642.4M | ||
| Q3 25 | — | $535.4M | ||
| Q2 25 | — | $513.1M | ||
| Q1 25 | — | $515.8M | ||
| Q4 24 | $187.9M | $418.0M | ||
| Q3 24 | — | $345.2M | ||
| Q2 24 | — | $297.4M | ||
| Q1 24 | — | $298.7M |
| Q4 25 | $755.3M | $880.8M | ||
| Q3 25 | $775.6M | $892.7M | ||
| Q2 25 | $786.7M | $902.0M | ||
| Q1 25 | $807.7M | $910.5M | ||
| Q4 24 | $822.6M | $918.6M | ||
| Q3 24 | $825.7M | $925.4M | ||
| Q2 24 | $836.8M | $933.1M | ||
| Q1 24 | $848.8M | $871.6M |
| Q4 25 | $1.2B | $1.9B | ||
| Q3 25 | $1.3B | $1.9B | ||
| Q2 25 | $1.3B | $1.8B | ||
| Q1 25 | $1.3B | $1.8B | ||
| Q4 24 | $1.3B | $1.7B | ||
| Q3 24 | $1.4B | $1.7B | ||
| Q2 24 | $1.4B | $1.7B | ||
| Q1 24 | $1.5B | $1.4B |
| Q4 25 | 0.20× | 0.73× | ||
| Q3 25 | — | 0.60× | ||
| Q2 25 | — | 0.57× | ||
| Q1 25 | — | 0.57× | ||
| Q4 24 | 0.23× | 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 | $14.9M | $28.8M |
| Free Cash FlowOCF − Capex | $-44.2M | $-78.6M |
| FCF MarginFCF / Revenue | -24.6% | -85.8% |
| Capex IntensityCapex / Revenue | 33.0% | 117.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-66.9M | $-257.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $14.9M | $28.8M | ||
| Q3 25 | $27.5M | $30.7M | ||
| Q2 25 | $21.0M | $20.9M | ||
| Q1 25 | $25.8M | $20.5M | ||
| Q4 24 | $37.8M | $20.6M | ||
| Q3 24 | $35.6M | $24.3M | ||
| Q2 24 | $40.0M | $2.5M | ||
| Q1 24 | $31.0M | $15.2M |
| Q4 25 | $-44.2M | $-78.6M | ||
| Q3 25 | $-12.2M | $-51.4M | ||
| Q2 25 | $-12.8M | $-65.3M | ||
| Q1 25 | $2.3M | $-62.7M | ||
| Q4 24 | $-45.5M | $-72.0M | ||
| Q3 24 | $24.6M | $-51.3M | ||
| Q2 24 | $29.4M | $-78.3M | ||
| Q1 24 | $26.3M | $-54.9M |
| Q4 25 | -24.6% | -85.8% | ||
| Q3 25 | -6.2% | -57.2% | ||
| Q2 25 | -6.1% | -73.7% | ||
| Q1 25 | 1.0% | -71.3% | ||
| Q4 24 | -18.8% | -84.3% | ||
| Q3 24 | 9.5% | -58.5% | ||
| Q2 24 | 10.7% | -91.3% | ||
| Q1 24 | 9.7% | -79.3% |
| Q4 25 | 33.0% | 117.2% | ||
| Q3 25 | 20.2% | 91.4% | ||
| Q2 25 | 16.1% | 97.3% | ||
| Q1 25 | 10.7% | 94.7% | ||
| Q4 24 | 34.3% | 108.4% | ||
| Q3 24 | 4.2% | 86.2% | ||
| Q2 24 | 3.8% | 94.2% | ||
| Q1 24 | 1.7% | 101.2% |
| Q4 25 | — | — | ||
| 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
HTLD
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% |
