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Side-by-side financial comparison of LandBridge Co LLC (LB) 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 $56.8M, roughly 1.6× LandBridge Co LLC). LandBridge Co LLC runs the higher net margin — 14.2% vs -5.9%, a 20.1% gap on every dollar of revenue. On growth, LandBridge Co LLC posted the faster year-over-year revenue change (55.6% vs 7.2%). LandBridge Co LLC produced more free cash flow last quarter ($122.0M vs $-78.6M). Over the past eight quarters, LandBridge Co LLC's revenue compounded faster (72.8% CAGR vs 15.0%).
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.
LB vs SHEN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $56.8M | $91.6M |
| Net Profit | $8.1M | $-5.4M |
| Gross Margin | — | — |
| Operating Margin | 60.0% | -1.0% |
| Net Margin | 14.2% | -5.9% |
| Revenue YoY | 55.6% | 7.2% |
| Net Profit YoY | -83.7% | -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 | $56.8M | $91.6M | ||
| Q3 25 | $50.8M | $89.8M | ||
| Q2 25 | $47.5M | $88.6M | ||
| Q1 25 | $44.0M | $87.9M | ||
| Q4 24 | $36.5M | $85.4M | ||
| Q3 24 | $28.5M | $87.6M | ||
| Q2 24 | $26.0M | $85.8M | ||
| Q1 24 | $19.0M | $69.2M |
| Q4 25 | $8.1M | $-5.4M | ||
| Q3 25 | $8.1M | $-9.4M | ||
| Q2 25 | $7.5M | $-9.0M | ||
| Q1 25 | $6.5M | $-9.1M | ||
| Q4 24 | $49.3M | $-2.7M | ||
| Q3 24 | $2.7M | $-5.3M | ||
| Q2 24 | $-57.7M | $-12.9M | ||
| Q1 24 | $10.8M | $214.7M |
| Q4 25 | 60.0% | -1.0% | ||
| Q3 25 | 60.8% | -8.0% | ||
| Q2 25 | 60.0% | -10.3% | ||
| Q1 25 | 57.0% | -6.9% | ||
| Q4 24 | 49.4% | -6.7% | ||
| Q3 24 | 11.2% | -4.8% | ||
| Q2 24 | -197.4% | -18.5% | ||
| Q1 24 | 71.1% | -4.0% |
| Q4 25 | 14.2% | -5.9% | ||
| Q3 25 | 15.9% | -10.5% | ||
| Q2 25 | 15.8% | -10.2% | ||
| Q1 25 | 14.7% | -10.4% | ||
| Q4 24 | 135.2% | -3.2% | ||
| Q3 24 | 9.3% | -6.0% | ||
| Q2 24 | -222.1% | -15.0% | ||
| Q1 24 | 56.7% | 310.0% |
| Q4 25 | $0.24 | $-0.13 | ||
| Q3 25 | $0.26 | $-0.20 | ||
| Q2 25 | $0.24 | $-0.19 | ||
| Q1 25 | $0.20 | $-0.19 | ||
| Q4 24 | — | $-0.34 | ||
| Q3 24 | $-0.04 | $-0.13 | ||
| Q2 24 | — | $-0.24 | ||
| Q1 24 | — | $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 | $30.7M | $27.3M |
| Total DebtLower is stronger | $570.7M | $642.4M |
| Stockholders' EquityBook value | $340.3M | $880.8M |
| Total Assets | $1.4B | $1.9B |
| Debt / EquityLower = less leverage | 1.68× | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $30.7M | $27.3M | ||
| Q3 25 | $28.3M | $22.6M | ||
| Q2 25 | $20.3M | $29.1M | ||
| Q1 25 | $14.9M | $87.5M | ||
| Q4 24 | $37.0M | $46.3M | ||
| Q3 24 | $14.4M | $43.1M | ||
| Q2 24 | $24.6M | $43.8M | ||
| Q1 24 | — | $389.7M |
| Q4 25 | $570.7M | $642.4M | ||
| Q3 25 | $366.1M | $535.4M | ||
| Q2 25 | $370.9M | $513.1M | ||
| Q1 25 | $375.5M | $515.8M | ||
| Q4 24 | $385.5M | $418.0M | ||
| Q3 24 | $242.4M | $345.2M | ||
| Q2 24 | $360.8M | $297.4M | ||
| Q1 24 | — | $298.7M |
| Q4 25 | $340.3M | $880.8M | ||
| Q3 25 | $272.0M | $892.7M | ||
| Q2 25 | $266.4M | $902.0M | ||
| Q1 25 | $217.0M | $910.5M | ||
| Q4 24 | $211.8M | $918.6M | ||
| Q3 24 | $97.2M | $925.4M | ||
| Q2 24 | $296.4M | $933.1M | ||
| Q1 24 | $162.3M | $871.6M |
| Q4 25 | $1.4B | $1.9B | ||
| Q3 25 | $1.1B | $1.9B | ||
| Q2 25 | $1.1B | $1.8B | ||
| Q1 25 | $1.0B | $1.8B | ||
| Q4 24 | $1.0B | $1.7B | ||
| Q3 24 | $689.9M | $1.7B | ||
| Q2 24 | $710.5M | $1.7B | ||
| Q1 24 | — | $1.4B |
| Q4 25 | 1.68× | 0.73× | ||
| Q3 25 | 1.35× | 0.60× | ||
| Q2 25 | 1.39× | 0.57× | ||
| Q1 25 | 1.73× | 0.57× | ||
| Q4 24 | 1.82× | 0.46× | ||
| Q3 24 | 2.49× | 0.37× | ||
| Q2 24 | 1.22× | 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 | $126.3M | $28.8M |
| Free Cash FlowOCF − Capex | $122.0M | $-78.6M |
| FCF MarginFCF / Revenue | 214.9% | -85.8% |
| Capex IntensityCapex / Revenue | 7.5% | 117.2% |
| Cash ConversionOCF / Net Profit | 15.68× | — |
| TTM Free Cash FlowTrailing 4 quarters | $207.7M | $-257.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $126.3M | $28.8M | ||
| Q3 25 | $34.9M | $30.7M | ||
| Q2 25 | $37.3M | $20.9M | ||
| Q1 25 | $15.9M | $20.5M | ||
| Q4 24 | $67.6M | $20.6M | ||
| Q3 24 | $7.5M | $24.3M | ||
| Q2 24 | $16.0M | $2.5M | ||
| Q1 24 | $17.2M | $15.2M |
| Q4 25 | $122.0M | $-78.6M | ||
| Q3 25 | $33.7M | $-51.4M | ||
| Q2 25 | $36.1M | $-65.3M | ||
| Q1 25 | $15.8M | $-62.7M | ||
| Q4 24 | $66.7M | $-72.0M | ||
| Q3 24 | $7.1M | $-51.3M | ||
| Q2 24 | $15.7M | $-78.3M | ||
| Q1 24 | $17.1M | $-54.9M |
| Q4 25 | 214.9% | -85.8% | ||
| Q3 25 | 66.3% | -57.2% | ||
| Q2 25 | 75.9% | -73.7% | ||
| Q1 25 | 36.0% | -71.3% | ||
| Q4 24 | 182.6% | -84.3% | ||
| Q3 24 | 25.1% | -58.5% | ||
| Q2 24 | 60.4% | -91.3% | ||
| Q1 24 | 90.1% | -79.3% |
| Q4 25 | 7.5% | 117.2% | ||
| Q3 25 | 2.3% | 91.4% | ||
| Q2 25 | 2.6% | 97.3% | ||
| Q1 25 | 0.2% | 94.7% | ||
| Q4 24 | 2.7% | 108.4% | ||
| Q3 24 | 1.1% | 86.2% | ||
| Q2 24 | 1.4% | 94.2% | ||
| Q1 24 | 0.5% | 101.2% |
| Q4 25 | 15.68× | — | ||
| Q3 25 | 4.31× | — | ||
| Q2 25 | 4.98× | — | ||
| Q1 25 | 2.46× | — | ||
| Q4 24 | 1.37× | — | ||
| Q3 24 | 2.80× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.60× | 0.07× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LB
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% |
