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Side-by-side financial comparison of Leslie's, Inc. (LESL) and SHENANDOAH TELECOMMUNICATIONS CO (SHEN). Click either name above to swap in a different company.
Leslie's, Inc. is the larger business by last-quarter revenue ($147.1M vs $91.6M, roughly 1.6× SHENANDOAH TELECOMMUNICATIONS CO). SHENANDOAH TELECOMMUNICATIONS CO runs the higher net margin — -5.9% vs -56.4%, a 50.5% gap on every dollar of revenue. On growth, SHENANDOAH TELECOMMUNICATIONS CO posted the faster year-over-year revenue change (7.2% vs -16.0%). SHENANDOAH TELECOMMUNICATIONS CO produced more free cash flow last quarter ($-78.6M vs $-85.5M). Over the past eight quarters, SHENANDOAH TELECOMMUNICATIONS CO's revenue compounded faster (15.0% CAGR vs -11.7%).
Leslie's, Inc., operating as Leslie's Swimming Pool Supplies, is the largest retailer of swimming pool supplies and related products. The company is headquartered in Phoenix, Arizona, and has a particularly strong retail presence in Arizona, California, Florida, Georgia and Texas.
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.
LESL vs SHEN — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $147.1M | $91.6M |
| Net Profit | $-83.0M | $-5.4M |
| Gross Margin | 18.4% | — |
| Operating Margin | -46.7% | -1.0% |
| Net Margin | -56.4% | -5.9% |
| Revenue YoY | -16.0% | 7.2% |
| Net Profit YoY | -86.2% | -95.8% |
| EPS (diluted) | $-8.92 | $-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.
| Q1 26 | $147.1M | — | ||
| Q4 25 | $389.2M | $91.6M | ||
| Q3 25 | — | $89.8M | ||
| Q2 25 | $500.3M | $88.6M | ||
| Q1 25 | $177.1M | $87.9M | ||
| Q4 24 | $175.2M | $85.4M | ||
| Q3 24 | $397.9M | $87.6M | ||
| Q2 24 | $569.6M | $85.8M |
| Q1 26 | $-83.0M | — | ||
| Q4 25 | $-162.8M | $-5.4M | ||
| Q3 25 | — | $-9.4M | ||
| Q2 25 | $21.7M | $-9.0M | ||
| Q1 25 | $-51.3M | $-9.1M | ||
| Q4 24 | $-44.6M | $-2.7M | ||
| Q3 24 | $-9.9M | $-5.3M | ||
| Q2 24 | $60.6M | $-12.9M |
| Q1 26 | 18.4% | — | ||
| Q4 25 | 38.6% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 39.6% | — | ||
| Q1 25 | 24.8% | — | ||
| Q4 24 | 27.2% | — | ||
| Q3 24 | 36.0% | — | ||
| Q2 24 | 40.2% | — |
| Q1 26 | -46.7% | — | ||
| Q4 25 | -38.6% | -1.0% | ||
| Q3 25 | — | -8.0% | ||
| Q2 25 | 13.7% | -10.3% | ||
| Q1 25 | -27.3% | -6.9% | ||
| Q4 24 | -22.7% | -6.7% | ||
| Q3 24 | 6.6% | -4.8% | ||
| Q2 24 | 17.2% | -18.5% |
| Q1 26 | -56.4% | — | ||
| Q4 25 | -41.8% | -5.9% | ||
| Q3 25 | — | -10.5% | ||
| Q2 25 | 4.3% | -10.2% | ||
| Q1 25 | -29.0% | -10.4% | ||
| Q4 24 | -25.4% | -3.2% | ||
| Q3 24 | -2.5% | -6.0% | ||
| Q2 24 | 10.6% | -15.0% |
| Q1 26 | $-8.92 | — | ||
| Q4 25 | $-20.59 | $-0.13 | ||
| Q3 25 | — | $-0.20 | ||
| Q2 25 | $0.12 | $-0.19 | ||
| Q1 25 | $-0.28 | $-0.19 | ||
| Q4 24 | $-4.82 | $-0.34 | ||
| Q3 24 | $-2.46 | $-0.13 | ||
| Q2 24 | $0.33 | $-0.24 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.6M | $27.3M |
| Total DebtLower is stronger | $781.6M | $642.4M |
| Stockholders' EquityBook value | $-489.9M | $880.8M |
| Total Assets | $649.4M | $1.9B |
| Debt / EquityLower = less leverage | — | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $3.6M | — | ||
| Q4 25 | $64.3M | $27.3M | ||
| Q3 25 | — | $22.6M | ||
| Q2 25 | $42.7M | $29.1M | ||
| Q1 25 | $17.3M | $87.5M | ||
| Q4 24 | $11.6M | $46.3M | ||
| Q3 24 | $108.5M | $43.1M | ||
| Q2 24 | $74.4M | $43.8M |
| Q1 26 | $781.6M | — | ||
| Q4 25 | $756.6M | $642.4M | ||
| Q3 25 | — | $535.4M | ||
| Q2 25 | $776.6M | $513.1M | ||
| Q1 25 | $858.1M | $515.8M | ||
| Q4 24 | $796.6M | $418.0M | ||
| Q3 24 | $783.7M | $345.2M | ||
| Q2 24 | $783.7M | $297.4M |
| Q1 26 | $-489.9M | — | ||
| Q4 25 | $-408.0M | $880.8M | ||
| Q3 25 | — | $892.7M | ||
| Q2 25 | $-246.2M | $902.0M | ||
| Q1 25 | $-269.5M | $910.5M | ||
| Q4 24 | $-220.0M | $918.6M | ||
| Q3 24 | $-177.1M | $925.4M | ||
| Q2 24 | $-168.2M | $933.1M |
| Q1 26 | $649.4M | — | ||
| Q4 25 | $741.5M | $1.9B | ||
| Q3 25 | — | $1.9B | ||
| Q2 25 | $989.5M | $1.8B | ||
| Q1 25 | $1.0B | $1.8B | ||
| Q4 24 | $967.0M | $1.7B | ||
| Q3 24 | $1.1B | $1.7B | ||
| Q2 24 | $1.1B | $1.7B |
| Q1 26 | — | — | ||
| 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× |
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 | $-81.1M | $28.8M |
| Free Cash FlowOCF − Capex | $-85.5M | $-78.6M |
| FCF MarginFCF / Revenue | -58.1% | -85.8% |
| Capex IntensityCapex / Revenue | 2.9% | 117.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $7.6M | $-257.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $-81.1M | — | ||
| Q4 25 | $48.2M | $28.8M | ||
| Q3 25 | — | $30.7M | ||
| Q2 25 | $114.9M | $20.9M | ||
| Q1 25 | $-49.2M | $20.5M | ||
| Q4 24 | $-105.1M | $20.6M | ||
| Q3 24 | $47.1M | $24.3M | ||
| Q2 24 | $175.5M | $2.5M |
| Q1 26 | $-85.5M | — | ||
| Q4 25 | $41.8M | $-78.6M | ||
| Q3 25 | — | $-51.4M | ||
| Q2 25 | $107.1M | $-65.3M | ||
| Q1 25 | $-55.8M | $-62.7M | ||
| Q4 24 | $-109.8M | $-72.0M | ||
| Q3 24 | $34.1M | $-51.3M | ||
| Q2 24 | $165.2M | $-78.3M |
| Q1 26 | -58.1% | — | ||
| Q4 25 | 10.7% | -85.8% | ||
| Q3 25 | — | -57.2% | ||
| Q2 25 | 21.4% | -73.7% | ||
| Q1 25 | -31.5% | -71.3% | ||
| Q4 24 | -62.6% | -84.3% | ||
| Q3 24 | 8.6% | -58.5% | ||
| Q2 24 | 29.0% | -91.3% |
| Q1 26 | 2.9% | — | ||
| Q4 25 | 1.7% | 117.2% | ||
| Q3 25 | — | 91.4% | ||
| Q2 25 | 1.6% | 97.3% | ||
| Q1 25 | 3.7% | 94.7% | ||
| Q4 24 | 2.7% | 108.4% | ||
| Q3 24 | 3.2% | 86.2% | ||
| Q2 24 | 1.8% | 94.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 5.29× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 2.89× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LESL
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% |
