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Side-by-side financial comparison of SHENANDOAH TELECOMMUNICATIONS CO (SHEN) and TSS, Inc. (TSSI). Click either name above to swap in a different company.
SHENANDOAH TELECOMMUNICATIONS CO is the larger business by last-quarter revenue ($91.6M vs $60.9M, roughly 1.5× TSS, Inc.). TSS, Inc. runs the higher net margin — 20.0% vs -5.9%, a 25.8% gap on every dollar of revenue. On growth, TSS, Inc. posted the faster year-over-year revenue change (21.8% vs 7.2%). TSS, Inc. produced more free cash flow last quarter ($15.8M vs $-78.6M). Over the past eight quarters, TSS, Inc.'s revenue compounded faster (95.8% 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.
SHEN vs TSSI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $91.6M | $60.9M |
| Net Profit | $-5.4M | $12.2M |
| Gross Margin | — | 17.6% |
| Operating Margin | -1.0% | 1.5% |
| Net Margin | -5.9% | 20.0% |
| Revenue YoY | 7.2% | 21.8% |
| Net Profit YoY | -95.8% | 535.7% |
| EPS (diluted) | $-0.13 | $0.44 |
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 | $91.6M | $60.9M | ||
| Q3 25 | $89.8M | $41.9M | ||
| Q2 25 | $88.6M | $44.0M | ||
| Q1 25 | $87.9M | $99.0M | ||
| Q4 24 | $85.4M | $50.0M | ||
| Q3 24 | $87.6M | $70.1M | ||
| Q2 24 | $85.8M | $12.2M | ||
| Q1 24 | $69.2M | $15.9M |
| Q4 25 | $-5.4M | $12.2M | ||
| Q3 25 | $-9.4M | $-1.5M | ||
| Q2 25 | $-9.0M | $1.5M | ||
| Q1 25 | $-9.1M | $3.0M | ||
| Q4 24 | $-2.7M | $1.9M | ||
| Q3 24 | $-5.3M | $2.6M | ||
| Q2 24 | $-12.9M | $1.4M | ||
| Q1 24 | $214.7M | $15.0K |
| Q4 25 | — | 17.6% | ||
| Q3 25 | — | 11.1% | ||
| Q2 25 | — | 17.8% | ||
| Q1 25 | — | 9.3% | ||
| Q4 24 | — | 14.4% | ||
| Q3 24 | — | 11.3% | ||
| Q2 24 | — | 37.3% | ||
| Q1 24 | — | 17.1% |
| Q4 25 | -1.0% | 1.5% | ||
| Q3 25 | -8.0% | -2.2% | ||
| Q2 25 | -10.3% | 5.1% | ||
| Q1 25 | -6.9% | 4.2% | ||
| Q4 24 | -6.7% | 0.0% | ||
| Q3 24 | -4.8% | 5.4% | ||
| Q2 24 | -18.5% | 14.0% | ||
| Q1 24 | -4.0% | 1.6% |
| Q4 25 | -5.9% | 20.0% | ||
| Q3 25 | -10.5% | -3.6% | ||
| Q2 25 | -10.2% | 3.4% | ||
| Q1 25 | -10.4% | 3.0% | ||
| Q4 24 | -3.2% | 3.8% | ||
| Q3 24 | -6.0% | 3.8% | ||
| Q2 24 | -15.0% | 11.5% | ||
| Q1 24 | 310.0% | 0.1% |
| Q4 25 | $-0.13 | $0.44 | ||
| Q3 25 | $-0.20 | $-0.06 | ||
| Q2 25 | $-0.19 | $0.06 | ||
| Q1 25 | $-0.19 | $0.12 | ||
| Q4 24 | $-0.34 | $0.08 | ||
| Q3 24 | $-0.13 | $0.10 | ||
| Q2 24 | $-0.24 | $0.06 | ||
| Q1 24 | $4.25 | $0.00 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $27.3M | $85.5M |
| Total DebtLower is stronger | $642.4M | — |
| Stockholders' EquityBook value | $880.8M | $76.6M |
| Total Assets | $1.9B | $184.9M |
| Debt / EquityLower = less leverage | 0.73× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.3M | $85.5M | ||
| Q3 25 | $22.6M | $70.7M | ||
| Q2 25 | $29.1M | — | ||
| Q1 25 | $87.5M | — | ||
| Q4 24 | $46.3M | $23.2M | ||
| Q3 24 | $43.1M | $46.4M | ||
| Q2 24 | $43.8M | $8.3M | ||
| Q1 24 | $389.7M | $14.4M |
| 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 | $880.8M | $76.6M | ||
| Q3 25 | $892.7M | $63.4M | ||
| Q2 25 | $902.0M | $9.5M | ||
| Q1 25 | $910.5M | $9.4M | ||
| Q4 24 | $918.6M | $7.1M | ||
| Q3 24 | $925.4M | $7.7M | ||
| Q2 24 | $933.1M | $5.2M | ||
| Q1 24 | $871.6M | $3.7M |
| Q4 25 | $1.9B | $184.9M | ||
| Q3 25 | $1.9B | $165.4M | ||
| Q2 25 | $1.8B | $139.5M | ||
| Q1 25 | $1.8B | $113.5M | ||
| Q4 24 | $1.7B | $96.6M | ||
| Q3 24 | $1.7B | $67.3M | ||
| Q2 24 | $1.7B | $28.9M | ||
| Q1 24 | $1.4B | $26.8M |
| 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 | $28.8M | $16.3M |
| Free Cash FlowOCF − Capex | $-78.6M | $15.8M |
| FCF MarginFCF / Revenue | -85.8% | 25.9% |
| Capex IntensityCapex / Revenue | 117.2% | 0.9% |
| Cash ConversionOCF / Net Profit | — | 1.34× |
| TTM Free Cash FlowTrailing 4 quarters | $-257.9M | $2.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.8M | $16.3M | ||
| Q3 25 | $30.7M | $-18.4M | ||
| Q2 25 | $20.9M | $16.3M | ||
| Q1 25 | $20.5M | $20.6M | ||
| Q4 24 | $20.6M | $-21.6M | ||
| Q3 24 | $24.3M | $38.6M | ||
| Q2 24 | $2.5M | $-4.3M | ||
| Q1 24 | $15.2M | $2.6M |
| Q4 25 | $-78.6M | $15.8M | ||
| Q3 25 | $-51.4M | $-24.9M | ||
| Q2 25 | $-65.3M | $5.4M | ||
| Q1 25 | $-62.7M | $5.8M | ||
| Q4 24 | $-72.0M | $-28.4M | ||
| Q3 24 | $-51.3M | $38.6M | ||
| Q2 24 | $-78.3M | $-6.0M | ||
| Q1 24 | $-54.9M | $2.6M |
| Q4 25 | -85.8% | 25.9% | ||
| Q3 25 | -57.2% | -59.3% | ||
| Q2 25 | -73.7% | 12.3% | ||
| Q1 25 | -71.3% | 5.8% | ||
| Q4 24 | -84.3% | -56.7% | ||
| Q3 24 | -58.5% | 55.1% | ||
| Q2 24 | -91.3% | -49.4% | ||
| Q1 24 | -79.3% | 16.4% |
| Q4 25 | 117.2% | 0.9% | ||
| Q3 25 | 91.4% | 15.3% | ||
| Q2 25 | 97.3% | 24.8% | ||
| Q1 25 | 94.7% | 15.0% | ||
| Q4 24 | 108.4% | 13.4% | ||
| Q3 24 | 86.2% | 0.1% | ||
| Q2 24 | 94.2% | 13.8% | ||
| Q1 24 | 101.2% | 0.2% |
| Q4 25 | — | 1.34× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 11.02× | ||
| Q1 25 | — | 6.93× | ||
| Q4 24 | — | -11.32× | ||
| Q3 24 | — | 14.60× | ||
| Q2 24 | — | -3.09× | ||
| Q1 24 | 0.07× | 176.40× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
TSSI
| Procurement Revenues Segment | $43.2M | 71% |
| System Integration Services Segment | $14.2M | 23% |
| Facilities Segment | $3.5M | 6% |
