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Side-by-side financial comparison of MFA FINANCIAL, INC. (MFA) 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 $55.5M, roughly 1.7× MFA FINANCIAL, INC.). On growth, MFA FINANCIAL, INC. posted the faster year-over-year revenue change (9.2% vs 7.2%). Over the past eight quarters, SHENANDOAH TELECOMMUNICATIONS CO's revenue compounded faster (15.0% CAGR vs 7.7%).
MFA Financial, Inc. is a U.S.-headquartered real estate investment trust (REIT) specializing in investing in and managing residential and commercial mortgage-backed securities, mortgage loans, and other real estate-related financial assets. It caters primarily to institutional and individual investors across the U.S., focusing on delivering stable risk-adjusted returns via rigorous asset screening and risk management frameworks.
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.
MFA vs SHEN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $55.5M | $91.6M |
| Net Profit | — | $-5.4M |
| Gross Margin | — | — |
| Operating Margin | 97.9% | -1.0% |
| Net Margin | — | -5.9% |
| Revenue YoY | 9.2% | 7.2% |
| Net Profit YoY | — | -95.8% |
| EPS (diluted) | $0.43 | $-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 | $55.5M | $91.6M | ||
| Q3 25 | $56.8M | $89.8M | ||
| Q2 25 | $61.3M | $88.6M | ||
| Q1 25 | $57.5M | $87.9M | ||
| Q4 24 | $50.8M | $85.4M | ||
| Q3 24 | $50.6M | $87.6M | ||
| Q2 24 | $53.5M | $85.8M | ||
| Q1 24 | $47.8M | $69.2M |
| Q4 25 | — | $-5.4M | ||
| Q3 25 | $48.1M | $-9.4M | ||
| Q2 25 | $33.2M | $-9.0M | ||
| Q1 25 | $41.2M | $-9.1M | ||
| Q4 24 | — | $-2.7M | ||
| Q3 24 | $48.2M | $-5.3M | ||
| Q2 24 | $41.9M | $-12.9M | ||
| Q1 24 | $23.2M | $214.7M |
| Q4 25 | 97.9% | -1.0% | ||
| Q3 25 | 84.5% | -8.0% | ||
| Q2 25 | 54.5% | -10.3% | ||
| Q1 25 | 70.0% | -6.9% | ||
| Q4 24 | 6.8% | -6.7% | ||
| Q3 24 | 98.2% | -4.8% | ||
| Q2 24 | 79.1% | -18.5% | ||
| Q1 24 | 50.7% | -4.0% |
| Q4 25 | — | -5.9% | ||
| Q3 25 | 84.7% | -10.5% | ||
| Q2 25 | 54.2% | -10.2% | ||
| Q1 25 | 71.6% | -10.4% | ||
| Q4 24 | — | -3.2% | ||
| Q3 24 | 95.2% | -6.0% | ||
| Q2 24 | 78.4% | -15.0% | ||
| Q1 24 | 48.5% | 310.0% |
| Q4 25 | $0.43 | $-0.13 | ||
| Q3 25 | $0.35 | $-0.20 | ||
| Q2 25 | $0.21 | $-0.19 | ||
| Q1 25 | $0.31 | $-0.19 | ||
| Q4 24 | $-0.01 | $-0.34 | ||
| Q3 24 | $0.37 | $-0.13 | ||
| Q2 24 | $0.32 | $-0.24 | ||
| Q1 24 | $0.14 | $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 | $213.2M | $27.3M |
| Total DebtLower is stronger | — | $642.4M |
| Stockholders' EquityBook value | $1.8B | $880.8M |
| Total Assets | $13.0B | $1.9B |
| Debt / EquityLower = less leverage | — | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $213.2M | $27.3M | ||
| Q3 25 | $305.2M | $22.6M | ||
| Q2 25 | $275.7M | $29.1M | ||
| Q1 25 | $253.7M | $87.5M | ||
| Q4 24 | $338.9M | $46.3M | ||
| Q3 24 | $305.6M | $43.1M | ||
| Q2 24 | $289.4M | $43.8M | ||
| Q1 24 | $306.3M | $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 | $1.8B | $880.8M | ||
| Q3 25 | $1.8B | $892.7M | ||
| Q2 25 | $1.8B | $902.0M | ||
| Q1 25 | $1.8B | $910.5M | ||
| Q4 24 | $1.8B | $918.6M | ||
| Q3 24 | $1.9B | $925.4M | ||
| Q2 24 | $1.9B | $933.1M | ||
| Q1 24 | $1.9B | $871.6M |
| Q4 25 | $13.0B | $1.9B | ||
| Q3 25 | $12.1B | $1.9B | ||
| Q2 25 | $11.7B | $1.8B | ||
| Q1 25 | $11.5B | $1.8B | ||
| Q4 24 | $11.4B | $1.7B | ||
| Q3 24 | $11.2B | $1.7B | ||
| Q2 24 | $11.1B | $1.7B | ||
| Q1 24 | $10.9B | $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 | $76.2M | $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 | $76.2M | $28.8M | ||
| Q3 25 | $14.7M | $30.7M | ||
| Q2 25 | $38.5M | $20.9M | ||
| Q1 25 | $-14.6M | $20.5M | ||
| Q4 24 | $200.1M | $20.6M | ||
| Q3 24 | $-11.3M | $24.3M | ||
| Q2 24 | $46.5M | $2.5M | ||
| Q1 24 | $53.5M | $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 | 0.31× | — | ||
| Q2 25 | 1.16× | — | ||
| Q1 25 | -0.35× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.23× | — | ||
| Q2 24 | 1.11× | — | ||
| Q1 24 | 2.30× | 0.07× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MFA
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% |
