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Side-by-side financial comparison of INSTEEL INDUSTRIES INC (IIIN) and SHENANDOAH TELECOMMUNICATIONS CO (SHEN). Click either name above to swap in a different company.
INSTEEL INDUSTRIES INC is the larger business by last-quarter revenue ($159.9M vs $91.6M, roughly 1.7× SHENANDOAH TELECOMMUNICATIONS CO). INSTEEL INDUSTRIES INC runs the higher net margin — 4.7% vs -5.9%, a 10.6% gap on every dollar of revenue. On growth, INSTEEL INDUSTRIES INC posted the faster year-over-year revenue change (23.3% vs 7.2%). INSTEEL INDUSTRIES INC produced more free cash flow last quarter ($-2.2M vs $-78.6M). Over the past eight quarters, SHENANDOAH TELECOMMUNICATIONS CO's revenue compounded faster (15.0% CAGR vs 12.0%).
Insteel Industries Inc is a leading U.S. manufacturer of steel reinforcing products including welded wire reinforcement and steel fibers. It primarily serves non-residential construction, infrastructure, and precast concrete segments across North America, delivering high-performance reinforcement solutions for various construction projects.
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.
IIIN vs SHEN — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $159.9M | $91.6M |
| Net Profit | $7.6M | $-5.4M |
| Gross Margin | 11.3% | — |
| Operating Margin | 6.0% | -1.0% |
| Net Margin | 4.7% | -5.9% |
| Revenue YoY | 23.3% | 7.2% |
| Net Profit YoY | 602.4% | -95.8% |
| EPS (diluted) | $0.39 | $-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 | $159.9M | $91.6M | ||
| Q3 25 | $177.4M | $89.8M | ||
| Q2 25 | $179.9M | $88.6M | ||
| Q1 25 | $160.7M | $87.9M | ||
| Q4 24 | $129.7M | $85.4M | ||
| Q3 24 | $134.3M | $87.6M | ||
| Q2 24 | $145.8M | $85.8M | ||
| Q1 24 | $127.4M | $69.2M |
| Q4 25 | $7.6M | $-5.4M | ||
| Q3 25 | $14.6M | $-9.4M | ||
| Q2 25 | $15.2M | $-9.0M | ||
| Q1 25 | $10.2M | $-9.1M | ||
| Q4 24 | $1.1M | $-2.7M | ||
| Q3 24 | $4.7M | $-5.3M | ||
| Q2 24 | $6.6M | $-12.9M | ||
| Q1 24 | $6.9M | $214.7M |
| Q4 25 | 11.3% | — | ||
| Q3 25 | 16.1% | — | ||
| Q2 25 | 17.1% | — | ||
| Q1 25 | 15.3% | — | ||
| Q4 24 | 7.3% | — | ||
| Q3 24 | 9.1% | — | ||
| Q2 24 | 10.6% | — | ||
| Q1 24 | 12.3% | — |
| Q4 25 | 6.0% | -1.0% | ||
| Q3 25 | 10.8% | -8.0% | ||
| Q2 25 | 11.0% | -10.3% | ||
| Q1 25 | 8.3% | -6.9% | ||
| Q4 24 | 1.1% | -6.7% | ||
| Q3 24 | 4.5% | -4.8% | ||
| Q2 24 | 6.0% | -18.5% | ||
| Q1 24 | 7.0% | -4.0% |
| Q4 25 | 4.7% | -5.9% | ||
| Q3 25 | 8.2% | -10.5% | ||
| Q2 25 | 8.4% | -10.2% | ||
| Q1 25 | 6.4% | -10.4% | ||
| Q4 24 | 0.8% | -3.2% | ||
| Q3 24 | 3.5% | -6.0% | ||
| Q2 24 | 4.5% | -15.0% | ||
| Q1 24 | 5.4% | 310.0% |
| Q4 25 | $0.39 | $-0.13 | ||
| Q3 25 | $0.74 | $-0.20 | ||
| Q2 25 | $0.78 | $-0.19 | ||
| Q1 25 | $0.52 | $-0.19 | ||
| Q4 24 | $0.06 | $-0.34 | ||
| Q3 24 | $0.24 | $-0.13 | ||
| Q2 24 | $0.34 | $-0.24 | ||
| Q1 24 | $0.35 | $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 | $15.6M | $27.3M |
| Total DebtLower is stronger | — | $642.4M |
| Stockholders' EquityBook value | $358.8M | $880.8M |
| Total Assets | $456.1M | $1.9B |
| Debt / EquityLower = less leverage | — | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.6M | $27.3M | ||
| Q3 25 | $38.6M | $22.6M | ||
| Q2 25 | $53.7M | $29.1M | ||
| Q1 25 | $28.4M | $87.5M | ||
| Q4 24 | $36.0M | $46.3M | ||
| Q3 24 | $111.5M | $43.1M | ||
| Q2 24 | $97.7M | $43.8M | ||
| Q1 24 | $83.9M | $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 | $358.8M | $880.8M | ||
| Q3 25 | $371.5M | $892.7M | ||
| Q2 25 | $356.2M | $902.0M | ||
| Q1 25 | $341.4M | $910.5M | ||
| Q4 24 | $331.6M | $918.6M | ||
| Q3 24 | $350.9M | $925.4M | ||
| Q2 24 | $346.0M | $933.1M | ||
| Q1 24 | $340.6M | $871.6M |
| Q4 25 | $456.1M | $1.9B | ||
| Q3 25 | $462.6M | $1.9B | ||
| Q2 25 | $471.9M | $1.8B | ||
| Q1 25 | $421.9M | $1.8B | ||
| Q4 24 | $404.7M | $1.7B | ||
| Q3 24 | $422.6M | $1.7B | ||
| Q2 24 | $414.6M | $1.7B | ||
| Q1 24 | $397.2M | $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 | $-701.0K | $28.8M |
| Free Cash FlowOCF − Capex | $-2.2M | $-78.6M |
| FCF MarginFCF / Revenue | -1.4% | -85.8% |
| Capex IntensityCapex / Revenue | 0.9% | 117.2% |
| Cash ConversionOCF / Net Profit | -0.09× | — |
| TTM Free Cash FlowTrailing 4 quarters | $439.0K | $-257.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-701.0K | $28.8M | ||
| Q3 25 | $-17.0M | $30.7M | ||
| Q2 25 | $28.5M | $20.9M | ||
| Q1 25 | $-3.3M | $20.5M | ||
| Q4 24 | $19.0M | $20.6M | ||
| Q3 24 | $16.2M | $24.3M | ||
| Q2 24 | $18.8M | $2.5M | ||
| Q1 24 | $1.4M | $15.2M |
| Q4 25 | $-2.2M | $-78.6M | ||
| Q3 25 | $-18.7M | $-51.4M | ||
| Q2 25 | $26.9M | $-65.3M | ||
| Q1 25 | $-5.5M | $-62.7M | ||
| Q4 24 | $16.3M | $-72.0M | ||
| Q3 24 | $14.5M | $-51.3M | ||
| Q2 24 | $15.5M | $-78.3M | ||
| Q1 24 | $-580.0K | $-54.9M |
| Q4 25 | -1.4% | -85.8% | ||
| Q3 25 | -10.6% | -57.2% | ||
| Q2 25 | 15.0% | -73.7% | ||
| Q1 25 | -3.5% | -71.3% | ||
| Q4 24 | 12.6% | -84.3% | ||
| Q3 24 | 10.8% | -58.5% | ||
| Q2 24 | 10.7% | -91.3% | ||
| Q1 24 | -0.5% | -79.3% |
| Q4 25 | 0.9% | 117.2% | ||
| Q3 25 | 1.0% | 91.4% | ||
| Q2 25 | 0.9% | 97.3% | ||
| Q1 25 | 1.4% | 94.7% | ||
| Q4 24 | 2.1% | 108.4% | ||
| Q3 24 | 1.3% | 86.2% | ||
| Q2 24 | 2.2% | 94.2% | ||
| Q1 24 | 1.5% | 101.2% |
| Q4 25 | -0.09× | — | ||
| Q3 25 | -1.17× | — | ||
| Q2 25 | 1.88× | — | ||
| Q1 25 | -0.32× | — | ||
| Q4 24 | 17.56× | — | ||
| Q3 24 | 3.48× | — | ||
| Q2 24 | 2.86× | — | ||
| Q1 24 | 0.20× | 0.07× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IIIN
| Welded Wire Reinforcement | $108.4M | 68% |
| PC Strand | $51.6M | 32% |
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% |
