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Side-by-side financial comparison of JBG SMITH Properties (JBGS) and SHENANDOAH TELECOMMUNICATIONS CO (SHEN). Click either name above to swap in a different company.
JBG SMITH Properties is the larger business by last-quarter revenue ($127.6M vs $91.6M, roughly 1.4× SHENANDOAH TELECOMMUNICATIONS CO). SHENANDOAH TELECOMMUNICATIONS CO runs the higher net margin — -5.9% vs -35.7%, a 29.8% gap on every dollar of revenue. On growth, SHENANDOAH TELECOMMUNICATIONS CO posted the faster year-over-year revenue change (7.2% vs -2.5%). Over the past eight quarters, SHENANDOAH TELECOMMUNICATIONS CO's revenue compounded faster (15.0% CAGR vs -6.3%).
JBG SMITH PropertiesJBGSEarnings & Financial Report
JBG SMITH Properties is a publicly traded real estate investment trust based in Bethesda, Maryland.
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.
JBGS vs SHEN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $127.6M | $91.6M |
| Net Profit | $-45.5M | $-5.4M |
| Gross Margin | — | — |
| Operating Margin | -47.5% | -1.0% |
| Net Margin | -35.7% | -5.9% |
| Revenue YoY | -2.5% | 7.2% |
| Net Profit YoY | 24.0% | -95.8% |
| EPS (diluted) | $-0.76 | $-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 | $127.6M | $91.6M | ||
| Q3 25 | $123.9M | $89.8M | ||
| Q2 25 | $126.5M | $88.6M | ||
| Q1 25 | $120.7M | $87.9M | ||
| Q4 24 | $130.8M | $85.4M | ||
| Q3 24 | $136.0M | $87.6M | ||
| Q2 24 | $135.3M | $85.8M | ||
| Q1 24 | $145.2M | $69.2M |
| Q4 25 | $-45.5M | $-5.4M | ||
| Q3 25 | $-28.6M | $-9.4M | ||
| Q2 25 | $-19.2M | $-9.0M | ||
| Q1 25 | $-45.7M | $-9.1M | ||
| Q4 24 | $-59.9M | $-2.7M | ||
| Q3 24 | $-27.0M | $-5.3M | ||
| Q2 24 | $-24.4M | $-12.9M | ||
| Q1 24 | $-32.3M | $214.7M |
| Q4 25 | -47.5% | -1.0% | ||
| Q3 25 | -27.5% | -8.0% | ||
| Q2 25 | -18.4% | -10.3% | ||
| Q1 25 | -44.7% | -6.9% | ||
| Q4 24 | -53.6% | -6.7% | ||
| Q3 24 | -22.4% | -4.8% | ||
| Q2 24 | -24.3% | -18.5% | ||
| Q1 24 | -30.1% | -4.0% |
| Q4 25 | -35.7% | -5.9% | ||
| Q3 25 | -23.1% | -10.5% | ||
| Q2 25 | -15.2% | -10.2% | ||
| Q1 25 | -37.9% | -10.4% | ||
| Q4 24 | -45.8% | -3.2% | ||
| Q3 24 | -19.8% | -6.0% | ||
| Q2 24 | -18.0% | -15.0% | ||
| Q1 24 | -22.2% | 310.0% |
| Q4 25 | $-0.76 | $-0.13 | ||
| Q3 25 | $-0.48 | $-0.20 | ||
| Q2 25 | $-0.29 | $-0.19 | ||
| Q1 25 | $-0.56 | $-0.19 | ||
| Q4 24 | $-0.70 | $-0.34 | ||
| Q3 24 | $-0.32 | $-0.13 | ||
| Q2 24 | $-0.27 | $-0.24 | ||
| Q1 24 | $-0.36 | $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 | $75.3M | $27.3M |
| Total DebtLower is stronger | — | $642.4M |
| Stockholders' EquityBook value | $1.2B | $880.8M |
| Total Assets | $4.4B | $1.9B |
| Debt / EquityLower = less leverage | — | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.3M | $27.3M | ||
| Q3 25 | $64.4M | $22.6M | ||
| Q2 25 | $61.4M | $29.1M | ||
| Q1 25 | $81.3M | $87.5M | ||
| Q4 24 | $145.8M | $46.3M | ||
| Q3 24 | $137.0M | $43.1M | ||
| Q2 24 | $163.5M | $43.8M | ||
| Q1 24 | $220.5M | $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 | $1.2B | $880.8M | ||
| Q3 25 | $1.2B | $892.7M | ||
| Q2 25 | $1.3B | $902.0M | ||
| Q1 25 | $1.6B | $910.5M | ||
| Q4 24 | $1.8B | $918.6M | ||
| Q3 24 | $1.9B | $925.4M | ||
| Q2 24 | $2.0B | $933.1M | ||
| Q1 24 | $2.1B | $871.6M |
| Q4 25 | $4.4B | $1.9B | ||
| Q3 25 | $4.4B | $1.9B | ||
| Q2 25 | $4.5B | $1.8B | ||
| Q1 25 | $4.7B | $1.8B | ||
| Q4 24 | $5.0B | $1.7B | ||
| Q3 24 | $5.2B | $1.7B | ||
| Q2 24 | $5.3B | $1.7B | ||
| Q1 24 | $5.4B | $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 | $73.3M | $28.8M |
| Free Cash FlowOCF − Capex | — | $-78.6M |
| FCF MarginFCF / Revenue | — | -85.8% |
| Capex IntensityCapex / Revenue | — | 117.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-257.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $73.3M | $28.8M | ||
| Q3 25 | $8.9M | $30.7M | ||
| Q2 25 | $18.8M | $20.9M | ||
| Q1 25 | $12.9M | $20.5M | ||
| Q4 24 | $129.4M | $20.6M | ||
| Q3 24 | $26.4M | $24.3M | ||
| Q2 24 | $23.8M | $2.5M | ||
| Q1 24 | $37.0M | $15.2M |
| Q4 25 | — | $-78.6M | ||
| Q3 25 | — | $-51.4M | ||
| Q2 25 | — | $-65.3M | ||
| Q1 25 | — | $-62.7M | ||
| Q4 24 | — | $-72.0M | ||
| Q3 24 | — | $-51.3M | ||
| Q2 24 | — | $-78.3M | ||
| Q1 24 | — | $-54.9M |
| Q4 25 | — | -85.8% | ||
| Q3 25 | — | -57.2% | ||
| Q2 25 | — | -73.7% | ||
| Q1 25 | — | -71.3% | ||
| Q4 24 | — | -84.3% | ||
| Q3 24 | — | -58.5% | ||
| Q2 24 | — | -91.3% | ||
| Q1 24 | — | -79.3% |
| Q4 25 | — | 117.2% | ||
| Q3 25 | — | 91.4% | ||
| Q2 25 | — | 97.3% | ||
| Q1 25 | — | 94.7% | ||
| Q4 24 | — | 108.4% | ||
| Q3 24 | — | 86.2% | ||
| Q2 24 | — | 94.2% | ||
| Q1 24 | — | 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
JBGS
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% |
