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SHENANDOAH TELECOMMUNICATIONS CO（SHEN）与STEM, INC.（STEM）财务数据对比。点击上方公司名可切换其他公司
SHENANDOAH TELECOMMUNICATIONS CO的季度营收约是STEM, INC.的1.9倍（$91.6M vs $47.1M），SHENANDOAH TELECOMMUNICATIONS CO净利率更高（-5.9% vs -33.9%，领先28.0%），SHENANDOAH TELECOMMUNICATIONS CO同比增速更快（7.2% vs -15.6%），过去两年STEM, INC.的营收复合增速更高（36.1% vs 15.0%）
谢南多厄电信是总部位于美国弗吉尼亚州的区域性电信服务商，面向美国中大西洋地区多州的居民及商业客户提供宽带互联网、无线通信、数字有线电视及光纤网络解决方案，重点服务乡村及城郊欠发达区域。
该公司是一家公开上市的生物制药企业，总部位于加利福尼亚州纽瓦克，专注研发纯化人类神经干细胞，旨在治疗中枢神经系统疾病与瘫痪，其所研发的神经干细胞可分化为中枢神经系统的神经元、星形胶质细胞与少突胶质细胞这三大主要细胞类型。
SHEN vs STEM — 直观对比
营收规模更大
SHEN
是对方的1.9倍
$47.1M
营收增速更快
SHEN
高出22.8%
-15.6%
净利率更高
SHEN
高出28.0%
-33.9%
两年增速更快
STEM
近两年复合增速
15.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $91.6M | $47.1M |
| 净利润 | $-5.4M | $-16.0M |
| 毛利率 | — | 48.9% |
| 营业利润率 | -1.0% | -17.7% |
| 净利率 | -5.9% | -33.9% |
| 营收同比 | 7.2% | -15.6% |
| 净利润同比 | -95.8% | 68.8% |
| 每股收益（稀释后） | $-0.13 | $-4.40 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收SHENSTEM
| Q4 25 | $91.6M | $47.1M | ||
| Q3 25 | $89.8M | $38.2M | ||
| Q2 25 | $88.6M | $38.4M | ||
| Q1 25 | $87.9M | $32.5M | ||
| Q4 24 | $85.4M | $55.8M | ||
| Q3 24 | $87.6M | $29.3M | ||
| Q2 24 | $85.8M | $34.0M | ||
| Q1 24 | $69.2M | $25.5M |
净利润SHENSTEM
| Q4 25 | $-5.4M | $-16.0M | ||
| Q3 25 | $-9.4M | $-23.8M | ||
| Q2 25 | $-9.0M | $202.5M | ||
| Q1 25 | $-9.1M | $-25.0M | ||
| Q4 24 | $-2.7M | $-51.1M | ||
| Q3 24 | $-5.3M | $-148.3M | ||
| Q2 24 | $-12.9M | $-582.3M | ||
| Q1 24 | $214.7M | $-72.3M |
毛利率SHENSTEM
| Q4 25 | — | 48.9% | ||
| Q3 25 | — | 35.5% | ||
| Q2 25 | — | 33.4% | ||
| Q1 25 | — | 32.4% | ||
| Q4 24 | — | -4.4% | ||
| Q3 24 | — | 21.2% | ||
| Q2 24 | — | 27.6% | ||
| Q1 24 | — | -95.0% |
营业利润率SHENSTEM
| Q4 25 | -1.0% | -17.7% | ||
| Q3 25 | -8.0% | -33.6% | ||
| Q2 25 | -10.3% | -34.8% | ||
| Q1 25 | -6.9% | -65.0% | ||
| Q4 24 | -6.7% | -84.4% | ||
| Q3 24 | -4.8% | -493.2% | ||
| Q2 24 | -18.5% | -1705.5% | ||
| Q1 24 | -4.0% | -267.0% |
净利率SHENSTEM
| Q4 25 | -5.9% | -33.9% | ||
| Q3 25 | -10.5% | -62.2% | ||
| Q2 25 | -10.2% | 527.8% | ||
| Q1 25 | -10.4% | -76.9% | ||
| Q4 24 | -3.2% | -91.6% | ||
| Q3 24 | -6.0% | -506.3% | ||
| Q2 24 | -15.0% | -1712.6% | ||
| Q1 24 | 310.0% | -283.9% |
每股收益（稀释后）SHENSTEM
| Q4 25 | $-0.13 | $-4.40 | ||
| Q3 25 | $-0.20 | $-2.84 | ||
| Q2 25 | $-0.19 | $-1.79 | ||
| Q1 25 | $-0.19 | $-0.15 | ||
| Q4 24 | $-0.34 | $-15.29 | ||
| Q3 24 | $-0.13 | $-18.24 | ||
| Q2 24 | $-0.24 | $-71.81 | ||
| Q1 24 | $4.25 | $-0.46 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $27.3M | $48.9M |
| 总债务越低越好 | $642.4M | — |
| 股东权益账面价值 | $880.8M | $-249.4M |
| 总资产 | $1.9B | $308.9M |
| 负债/权益比越低杠杆越低 | 0.73× | — |
8季度趋势，按日历期对齐
现金及短期投资SHENSTEM
| Q4 25 | $27.3M | $48.9M | ||
| Q3 25 | $22.6M | $43.1M | ||
| Q2 25 | $29.1M | $40.8M | ||
| Q1 25 | $87.5M | $58.6M | ||
| Q4 24 | $46.3M | $56.3M | ||
| Q3 24 | $43.1M | $75.4M | ||
| Q2 24 | $43.8M | $89.6M | ||
| Q1 24 | $389.7M | $112.8M |
总债务SHENSTEM
| 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 | — |
股东权益SHENSTEM
| Q4 25 | $880.8M | $-249.4M | ||
| Q3 25 | $892.7M | $-235.7M | ||
| Q2 25 | $902.0M | $-214.1M | ||
| Q1 25 | $910.5M | $-417.5M | ||
| Q4 24 | $918.6M | $-398.4M | ||
| Q3 24 | $925.4M | $-344.1M | ||
| Q2 24 | $933.1M | $-203.2M | ||
| Q1 24 | $871.6M | $371.6M |
总资产SHENSTEM
| Q4 25 | $1.9B | $308.9M | ||
| Q3 25 | $1.9B | $362.6M | ||
| Q2 25 | $1.8B | $379.2M | ||
| Q1 25 | $1.8B | $405.1M | ||
| Q4 24 | $1.7B | $437.4M | ||
| Q3 24 | $1.7B | $537.8M | ||
| Q2 24 | $1.7B | $691.5M | ||
| Q1 24 | $1.4B | $1.3B |
负债/权益比SHENSTEM
| 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× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $28.8M | $8.2M |
| 自由现金流经营现金流 - 资本支出 | $-78.6M | — |
| 自由现金流率自由现金流/营收 | -85.8% | — |
| 资本支出强度资本支出/营收 | 117.2% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-257.9M | — |
8季度趋势，按日历期对齐
经营现金流SHENSTEM
| Q4 25 | $28.8M | $8.2M | ||
| Q3 25 | $30.7M | $11.4M | ||
| Q2 25 | $20.9M | $-21.3M | ||
| Q1 25 | $20.5M | $8.5M | ||
| Q4 24 | $20.6M | $-14.7M | ||
| Q3 24 | $24.3M | $-9.4M | ||
| Q2 24 | $2.5M | $-11.9M | ||
| Q1 24 | $15.2M | $-621.0K |
自由现金流SHENSTEM
| 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 | — |
自由现金流率SHENSTEM
| 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% | — |
资本支出强度SHENSTEM
| 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% | — |
现金转化率SHENSTEM
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.11× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.07× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
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% |
STEM
暂无分部数据
