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Side-by-side financial comparison of SHENANDOAH TELECOMMUNICATIONS CO (SHEN) and Velocity Financial, Inc. (VEL). Click either name above to swap in a different company.
SHENANDOAH TELECOMMUNICATIONS CO is the larger business by last-quarter revenue ($91.6M vs $51.6M, roughly 1.8× Velocity Financial, Inc.). Velocity Financial, Inc. runs the higher net margin — 67.3% vs -5.9%, a 73.2% gap on every dollar of revenue. On growth, Velocity Financial, Inc. posted the faster year-over-year revenue change (32.8% vs 7.2%). Velocity Financial, Inc. produced more free cash flow last quarter ($17.9M vs $-78.6M). Over the past eight quarters, Velocity Financial, Inc.'s revenue compounded faster (32.3% 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.
Velocity Financial, Inc. is a U.S.-headquartered real estate finance company that offers specialized mortgage loan solutions primarily for residential investment properties. It partners with independent mortgage brokers nationwide, providing real estate investors with short-term bridge loans and long-term rental property financing options tailored to their operational needs.
SHEN vs VEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $91.6M | $51.6M |
| Net Profit | $-5.4M | $34.8M |
| Gross Margin | — | — |
| Operating Margin | -1.0% | 97.0% |
| Net Margin | -5.9% | 67.3% |
| Revenue YoY | 7.2% | 32.8% |
| Net Profit YoY | -95.8% | 67.0% |
| EPS (diluted) | $-0.13 | $0.90 |
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 | $51.6M | ||
| Q3 25 | $89.8M | $49.1M | ||
| Q2 25 | $88.6M | $47.6M | ||
| Q1 25 | $87.9M | $37.5M | ||
| Q4 24 | $85.4M | $38.9M | ||
| Q3 24 | $87.6M | $35.1M | ||
| Q2 24 | $85.8M | $32.4M | ||
| Q1 24 | $69.2M | $29.5M |
| Q4 25 | $-5.4M | $34.8M | ||
| Q3 25 | $-9.4M | $25.4M | ||
| Q2 25 | $-9.0M | $26.0M | ||
| Q1 25 | $-9.1M | $18.9M | ||
| Q4 24 | $-2.7M | $20.8M | ||
| Q3 24 | $-5.3M | $15.8M | ||
| Q2 24 | $-12.9M | $14.8M | ||
| Q1 24 | $214.7M | $17.3M |
| Q4 25 | -1.0% | 97.0% | ||
| Q3 25 | -8.0% | 72.1% | ||
| Q2 25 | -10.3% | 71.3% | ||
| Q1 25 | -6.9% | 71.7% | ||
| Q4 24 | -6.7% | 82.5% | ||
| Q3 24 | -4.8% | 60.6% | ||
| Q2 24 | -18.5% | 61.3% | ||
| Q1 24 | -4.0% | 78.8% |
| Q4 25 | -5.9% | 67.3% | ||
| Q3 25 | -10.5% | 51.7% | ||
| Q2 25 | -10.2% | 54.6% | ||
| Q1 25 | -10.4% | 50.4% | ||
| Q4 24 | -3.2% | 53.5% | ||
| Q3 24 | -6.0% | 45.1% | ||
| Q2 24 | -15.0% | 45.6% | ||
| Q1 24 | 310.0% | 58.5% |
| Q4 25 | $-0.13 | $0.90 | ||
| Q3 25 | $-0.20 | $0.65 | ||
| Q2 25 | $-0.19 | $0.69 | ||
| Q1 25 | $-0.19 | $0.51 | ||
| Q4 24 | $-0.34 | $0.56 | ||
| Q3 24 | $-0.13 | $0.44 | ||
| Q2 24 | $-0.24 | $0.42 | ||
| Q1 24 | $4.25 | $0.49 |
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 | $92.1M |
| Total DebtLower is stronger | $642.4M | — |
| Stockholders' EquityBook value | $880.8M | $672.5M |
| Total Assets | $1.9B | $7.4B |
| Debt / EquityLower = less leverage | 0.73× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.3M | $92.1M | ||
| Q3 25 | $22.6M | $99.0M | ||
| Q2 25 | $29.1M | $79.6M | ||
| Q1 25 | $87.5M | $51.7M | ||
| Q4 24 | $46.3M | $49.9M | ||
| Q3 24 | $43.1M | $44.1M | ||
| Q2 24 | $43.8M | $47.4M | ||
| Q1 24 | $389.7M | $34.8M |
| 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 | $672.5M | ||
| Q3 25 | $892.7M | $634.3M | ||
| Q2 25 | $902.0M | $597.9M | ||
| Q1 25 | $910.5M | $563.2M | ||
| Q4 24 | $918.6M | $516.9M | ||
| Q3 24 | $925.4M | $484.6M | ||
| Q2 24 | $933.1M | $471.3M | ||
| Q1 24 | $871.6M | $452.9M |
| Q4 25 | $1.9B | $7.4B | ||
| Q3 25 | $1.9B | $7.0B | ||
| Q2 25 | $1.8B | $6.5B | ||
| Q1 25 | $1.8B | $6.0B | ||
| Q4 24 | $1.7B | $5.5B | ||
| Q3 24 | $1.7B | $5.2B | ||
| Q2 24 | $1.7B | $4.9B | ||
| Q1 24 | $1.4B | $4.6B |
| 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 | $18.2M |
| Free Cash FlowOCF − Capex | $-78.6M | $17.9M |
| FCF MarginFCF / Revenue | -85.8% | 34.6% |
| Capex IntensityCapex / Revenue | 117.2% | 0.5% |
| Cash ConversionOCF / Net Profit | — | 0.52× |
| TTM Free Cash FlowTrailing 4 quarters | $-257.9M | $40.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.8M | $18.2M | ||
| Q3 25 | $30.7M | $11.5M | ||
| Q2 25 | $20.9M | $7.7M | ||
| Q1 25 | $20.5M | $3.5M | ||
| Q4 24 | $20.6M | $37.8M | ||
| Q3 24 | $24.3M | $-17.6M | ||
| Q2 24 | $2.5M | $11.5M | ||
| Q1 24 | $15.2M | $10.6M |
| Q4 25 | $-78.6M | $17.9M | ||
| Q3 25 | $-51.4M | $11.4M | ||
| Q2 25 | $-65.3M | $7.6M | ||
| Q1 25 | $-62.7M | $3.5M | ||
| Q4 24 | $-72.0M | $37.5M | ||
| Q3 24 | $-51.3M | $-17.6M | ||
| Q2 24 | $-78.3M | $11.4M | ||
| Q1 24 | $-54.9M | $10.5M |
| Q4 25 | -85.8% | 34.6% | ||
| Q3 25 | -57.2% | 23.2% | ||
| Q2 25 | -73.7% | 15.9% | ||
| Q1 25 | -71.3% | 9.2% | ||
| Q4 24 | -84.3% | 96.4% | ||
| Q3 24 | -58.5% | -50.3% | ||
| Q2 24 | -91.3% | 35.1% | ||
| Q1 24 | -79.3% | 35.8% |
| Q4 25 | 117.2% | 0.5% | ||
| Q3 25 | 91.4% | 0.1% | ||
| Q2 25 | 97.3% | 0.2% | ||
| Q1 25 | 94.7% | 0.2% | ||
| Q4 24 | 108.4% | 0.7% | ||
| Q3 24 | 86.2% | 0.2% | ||
| Q2 24 | 94.2% | 0.3% | ||
| Q1 24 | 101.2% | 0.1% |
| Q4 25 | — | 0.52× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | — | 0.19× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | — | -1.11× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | 0.07× | 0.61× |
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% |
VEL
| Related Party | $19.3M | 37% |
| Nonrelated Party | $16.9M | 33% |
| Other | $15.4M | 30% |
