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Side-by-side financial comparison of SHENANDOAH TELECOMMUNICATIONS CO (SHEN) and Vericel Corp (VCEL). Click either name above to swap in a different company.
Vericel Corp is the larger business by last-quarter revenue ($92.9M vs $91.6M, roughly 1.0× SHENANDOAH TELECOMMUNICATIONS CO). Vericel Corp runs the higher net margin — 25.0% vs -5.9%, a 30.9% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs 7.2%). Vericel Corp produced more free cash flow last quarter ($12.8M vs $-78.6M). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% 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.
Vericel Corporation is a publicly traded American biopharmaceutical company which was known prior to October 2014 as Aastrom Bio. Aastrom Bio was formed in 1989 in Ann Arbor, Michigan.
SHEN vs VCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $91.6M | $92.9M |
| Net Profit | $-5.4M | $23.2M |
| Gross Margin | — | 78.7% |
| Operating Margin | -1.0% | 24.1% |
| Net Margin | -5.9% | 25.0% |
| Revenue YoY | 7.2% | 23.3% |
| Net Profit YoY | -95.8% | 17.3% |
| EPS (diluted) | $-0.13 | $0.46 |
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 | $92.9M | ||
| Q3 25 | $89.8M | $67.5M | ||
| Q2 25 | $88.6M | $63.2M | ||
| Q1 25 | $87.9M | $52.6M | ||
| Q4 24 | $85.4M | $75.4M | ||
| Q3 24 | $87.6M | $57.9M | ||
| Q2 24 | $85.8M | $52.7M | ||
| Q1 24 | $69.2M | $51.3M |
| Q4 25 | $-5.4M | $23.2M | ||
| Q3 25 | $-9.4M | $5.1M | ||
| Q2 25 | $-9.0M | $-553.0K | ||
| Q1 25 | $-9.1M | $-11.2M | ||
| Q4 24 | $-2.7M | $19.8M | ||
| Q3 24 | $-5.3M | $-901.0K | ||
| Q2 24 | $-12.9M | $-4.7M | ||
| Q1 24 | $214.7M | $-3.9M |
| Q4 25 | — | 78.7% | ||
| Q3 25 | — | 73.5% | ||
| Q2 25 | — | 73.7% | ||
| Q1 25 | — | 69.0% | ||
| Q4 24 | — | 77.6% | ||
| Q3 24 | — | 71.9% | ||
| Q2 24 | — | 69.5% | ||
| Q1 24 | — | 68.9% |
| Q4 25 | -1.0% | 24.1% | ||
| Q3 25 | -8.0% | 5.1% | ||
| Q2 25 | -10.3% | -3.2% | ||
| Q1 25 | -6.9% | -24.3% | ||
| Q4 24 | -6.7% | 24.5% | ||
| Q3 24 | -4.8% | -4.3% | ||
| Q2 24 | -18.5% | -11.5% | ||
| Q1 24 | -4.0% | -10.7% |
| Q4 25 | -5.9% | 25.0% | ||
| Q3 25 | -10.5% | 7.5% | ||
| Q2 25 | -10.2% | -0.9% | ||
| Q1 25 | -10.4% | -21.4% | ||
| Q4 24 | -3.2% | 26.3% | ||
| Q3 24 | -6.0% | -1.6% | ||
| Q2 24 | -15.0% | -8.9% | ||
| Q1 24 | 310.0% | -7.5% |
| Q4 25 | $-0.13 | $0.46 | ||
| Q3 25 | $-0.20 | $0.10 | ||
| Q2 25 | $-0.19 | $-0.01 | ||
| Q1 25 | $-0.19 | $-0.23 | ||
| Q4 24 | $-0.34 | $0.40 | ||
| Q3 24 | $-0.13 | $-0.02 | ||
| Q2 24 | $-0.24 | $-0.10 | ||
| Q1 24 | $4.25 | $-0.08 |
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 | $137.5M |
| Total DebtLower is stronger | $642.4M | — |
| Stockholders' EquityBook value | $880.8M | $354.6M |
| Total Assets | $1.9B | $488.0M |
| Debt / EquityLower = less leverage | 0.73× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.3M | $137.5M | ||
| Q3 25 | $22.6M | $135.4M | ||
| Q2 25 | $29.1M | $116.9M | ||
| Q1 25 | $87.5M | $112.9M | ||
| Q4 24 | $46.3M | $116.2M | ||
| Q3 24 | $43.1M | $101.7M | ||
| Q2 24 | $43.8M | $102.5M | ||
| Q1 24 | $389.7M | $110.6M |
| 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 | $354.6M | ||
| Q3 25 | $892.7M | $321.9M | ||
| Q2 25 | $902.0M | $306.8M | ||
| Q1 25 | $910.5M | $295.5M | ||
| Q4 24 | $918.6M | $292.0M | ||
| Q3 24 | $925.4M | $257.5M | ||
| Q2 24 | $933.1M | $243.0M | ||
| Q1 24 | $871.6M | $233.9M |
| Q4 25 | $1.9B | $488.0M | ||
| Q3 25 | $1.9B | $453.3M | ||
| Q2 25 | $1.8B | $435.6M | ||
| Q1 25 | $1.8B | $424.6M | ||
| Q4 24 | $1.7B | $432.7M | ||
| Q3 24 | $1.7B | $390.4M | ||
| Q2 24 | $1.7B | $376.8M | ||
| Q1 24 | $1.4B | $356.7M |
| 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 | $15.0M |
| Free Cash FlowOCF − Capex | $-78.6M | $12.8M |
| FCF MarginFCF / Revenue | -85.8% | 13.8% |
| Capex IntensityCapex / Revenue | 117.2% | 2.4% |
| Cash ConversionOCF / Net Profit | — | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | $-257.9M | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.8M | $15.0M | ||
| Q3 25 | $30.7M | $22.1M | ||
| Q2 25 | $20.9M | $8.2M | ||
| Q1 25 | $20.5M | $6.6M | ||
| Q4 24 | $20.6M | $22.2M | ||
| Q3 24 | $24.3M | $10.2M | ||
| Q2 24 | $2.5M | $18.5M | ||
| Q1 24 | $15.2M | $7.2M |
| Q4 25 | $-78.6M | $12.8M | ||
| Q3 25 | $-51.4M | $19.5M | ||
| Q2 25 | $-65.3M | $81.0K | ||
| Q1 25 | $-62.7M | $-7.6M | ||
| Q4 24 | $-72.0M | $8.5M | ||
| Q3 24 | $-51.3M | $-9.2M | ||
| Q2 24 | $-78.3M | $1.8M | ||
| Q1 24 | $-54.9M | $-6.8M |
| Q4 25 | -85.8% | 13.8% | ||
| Q3 25 | -57.2% | 28.8% | ||
| Q2 25 | -73.7% | 0.1% | ||
| Q1 25 | -71.3% | -14.5% | ||
| Q4 24 | -84.3% | 11.2% | ||
| Q3 24 | -58.5% | -15.9% | ||
| Q2 24 | -91.3% | 3.4% | ||
| Q1 24 | -79.3% | -13.3% |
| Q4 25 | 117.2% | 2.4% | ||
| Q3 25 | 91.4% | 3.9% | ||
| Q2 25 | 97.3% | 12.9% | ||
| Q1 25 | 94.7% | 27.0% | ||
| Q4 24 | 108.4% | 18.3% | ||
| Q3 24 | 86.2% | 33.5% | ||
| Q2 24 | 94.2% | 31.8% | ||
| Q1 24 | 101.2% | 27.3% |
| Q4 25 | — | 0.65× | ||
| Q3 25 | — | 4.35× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.12× | ||
| 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
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% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
