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Side-by-side financial comparison of iQSTEL Inc (IQST) 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 $84.2M, roughly 1.1× iQSTEL Inc). iQSTEL Inc runs the higher net margin — -3.2% vs -5.9%, a 2.7% gap on every dollar of revenue. On growth, SHENANDOAH TELECOMMUNICATIONS CO posted the faster year-over-year revenue change (7.2% vs -14.9%). iQSTEL Inc produced more free cash flow last quarter ($-1.2M vs $-78.6M). Over the past eight quarters, iQSTEL Inc's revenue compounded faster (28.0% CAGR vs 15.0%).
iQSTEL Inc is a technology holding company operating three core segments: telecommunications, Internet of Things (IoT), and fintech. It offers connectivity services, smart IoT monitoring solutions, and digital financial tools, mainly serving small and medium-sized enterprises and retail customers in North and South American 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.
IQST vs SHEN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $84.2M | $91.6M |
| Net Profit | $-2.7M | $-5.4M |
| Gross Margin | 3.5% | — |
| Operating Margin | -2.9% | -1.0% |
| Net Margin | -3.2% | -5.9% |
| Revenue YoY | -14.9% | 7.2% |
| Net Profit YoY | -44.5% | -95.8% |
| EPS (diluted) | $-0.92 | $-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 | $84.2M | $91.6M | ||
| Q3 25 | $102.9M | $89.8M | ||
| Q2 25 | $72.2M | $88.6M | ||
| Q1 25 | $57.6M | $87.9M | ||
| Q4 24 | $98.9M | $85.4M | ||
| Q3 24 | $54.2M | $87.6M | ||
| Q2 24 | $78.6M | $85.8M | ||
| Q1 24 | $51.4M | $69.2M |
| Q4 25 | $-2.7M | $-5.4M | ||
| Q3 25 | $-2.3M | $-9.4M | ||
| Q2 25 | $-2.3M | $-9.0M | ||
| Q1 25 | $-1.1M | $-9.1M | ||
| Q4 24 | $-1.9M | $-2.7M | ||
| Q3 24 | $-773.0K | $-5.3M | ||
| Q2 24 | $-2.0M | $-12.9M | ||
| Q1 24 | $-580.2K | $214.7M |
| Q4 25 | 3.5% | — | ||
| Q3 25 | 2.7% | — | ||
| Q2 25 | 2.6% | — | ||
| Q1 25 | 3.4% | — | ||
| Q4 24 | 2.7% | — | ||
| Q3 24 | 3.7% | — | ||
| Q2 24 | 2.8% | — | ||
| Q1 24 | 2.7% | — |
| Q4 25 | -2.9% | -1.0% | ||
| Q3 25 | -0.5% | -8.0% | ||
| Q2 25 | -0.9% | -10.3% | ||
| Q1 25 | -1.0% | -6.9% | ||
| Q4 24 | -0.3% | -6.7% | ||
| Q3 24 | -0.1% | -4.8% | ||
| Q2 24 | -0.4% | -18.5% | ||
| Q1 24 | -0.4% | -4.0% |
| Q4 25 | -3.2% | -5.9% | ||
| Q3 25 | -2.3% | -10.5% | ||
| Q2 25 | -3.3% | -10.2% | ||
| Q1 25 | -2.0% | -10.4% | ||
| Q4 24 | -1.9% | -3.2% | ||
| Q3 24 | -1.4% | -6.0% | ||
| Q2 24 | -2.5% | -15.0% | ||
| Q1 24 | -1.1% | 310.0% |
| Q4 25 | $-0.92 | $-0.13 | ||
| Q3 25 | $-0.68 | $-0.20 | ||
| Q2 25 | $-0.82 | $-0.19 | ||
| Q1 25 | $-0.44 | $-0.19 | ||
| Q4 24 | $-1.19 | $-0.34 | ||
| Q3 24 | $-0.40 | $-0.13 | ||
| Q2 24 | $-0.90 | $-0.24 | ||
| Q1 24 | $-0.37 | $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 | $2.2M | $27.3M |
| Total DebtLower is stronger | $4.1M | $642.4M |
| Stockholders' EquityBook value | $16.3M | $880.8M |
| Total Assets | $51.1M | $1.9B |
| Debt / EquityLower = less leverage | 0.25× | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.2M | $27.3M | ||
| Q3 25 | $2.3M | $22.6M | ||
| Q2 25 | $2.0M | $29.1M | ||
| Q1 25 | $1.1M | $87.5M | ||
| Q4 24 | $2.5M | $46.3M | ||
| Q3 24 | $2.1M | $43.1M | ||
| Q2 24 | $797.2K | $43.8M | ||
| Q1 24 | $2.7M | $389.7M |
| Q4 25 | $4.1M | $642.4M | ||
| Q3 25 | $2.7M | $535.4M | ||
| Q2 25 | $4.5M | $513.1M | ||
| Q1 25 | $3.5M | $515.8M | ||
| Q4 24 | $2.5M | $418.0M | ||
| Q3 24 | $3.2M | $345.2M | ||
| Q2 24 | $2.5M | $297.4M | ||
| Q1 24 | $194.0K | $298.7M |
| Q4 25 | $16.3M | $880.8M | ||
| Q3 25 | $17.9M | $892.7M | ||
| Q2 25 | $14.3M | $902.0M | ||
| Q1 25 | $11.6M | $910.5M | ||
| Q4 24 | $11.9M | $918.6M | ||
| Q3 24 | $8.1M | $925.4M | ||
| Q2 24 | $7.6M | $933.1M | ||
| Q1 24 | $8.4M | $871.6M |
| Q4 25 | $51.1M | $1.9B | ||
| Q3 25 | $46.9M | $1.9B | ||
| Q2 25 | $51.4M | $1.8B | ||
| Q1 25 | $42.0M | $1.8B | ||
| Q4 24 | $79.0M | $1.7B | ||
| Q3 24 | $32.4M | $1.7B | ||
| Q2 24 | $30.0M | $1.7B | ||
| Q1 24 | $22.1M | $1.4B |
| Q4 25 | 0.25× | 0.73× | ||
| Q3 25 | 0.15× | 0.60× | ||
| Q2 25 | 0.31× | 0.57× | ||
| Q1 25 | 0.31× | 0.57× | ||
| Q4 24 | 0.21× | 0.46× | ||
| Q3 24 | 0.40× | 0.37× | ||
| Q2 24 | 0.34× | 0.32× | ||
| Q1 24 | 0.02× | 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 | $-1.2M | $28.8M |
| Free Cash FlowOCF − Capex | $-1.2M | $-78.6M |
| FCF MarginFCF / Revenue | -1.5% | -85.8% |
| Capex IntensityCapex / Revenue | 0.0% | 117.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-4.0M | $-257.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.2M | $28.8M | ||
| Q3 25 | $-953.0K | $30.7M | ||
| Q2 25 | $257.7K | $20.9M | ||
| Q1 25 | $-1.9M | $20.5M | ||
| Q4 24 | $-403.7K | $20.6M | ||
| Q3 24 | $625.0K | $24.3M | ||
| Q2 24 | $-2.6M | $2.5M | ||
| Q1 24 | $-536.9K | $15.2M |
| Q4 25 | $-1.2M | $-78.6M | ||
| Q3 25 | $-969.2K | $-51.4M | ||
| Q2 25 | $211.7K | $-65.3M | ||
| Q1 25 | $-2.0M | $-62.7M | ||
| Q4 24 | $-421.3K | $-72.0M | ||
| Q3 24 | $594.5K | $-51.3M | ||
| Q2 24 | $-2.6M | $-78.3M | ||
| Q1 24 | $-608.5K | $-54.9M |
| Q4 25 | -1.5% | -85.8% | ||
| Q3 25 | -0.9% | -57.2% | ||
| Q2 25 | 0.3% | -73.7% | ||
| Q1 25 | -3.4% | -71.3% | ||
| Q4 24 | -0.4% | -84.3% | ||
| Q3 24 | 1.1% | -58.5% | ||
| Q2 24 | -3.4% | -91.3% | ||
| Q1 24 | -1.2% | -79.3% |
| Q4 25 | 0.0% | 117.2% | ||
| Q3 25 | 0.0% | 91.4% | ||
| Q2 25 | 0.1% | 97.3% | ||
| Q1 25 | 0.1% | 94.7% | ||
| Q4 24 | 0.0% | 108.4% | ||
| Q3 24 | 0.1% | 86.2% | ||
| Q2 24 | 0.0% | 94.2% | ||
| Q1 24 | 0.1% | 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
IQST
| USA | $53.2M | 63% |
| Other | $29.9M | 35% |
| Switzerland | $1.1M | 1% |
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% |
