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SHENANDOAH TELECOMMUNICATIONS CO（SHEN）与合众银行（WASH）财务数据对比。点击上方公司名可切换其他公司
SHENANDOAH TELECOMMUNICATIONS CO的季度营收约是合众银行的1.6倍（$91.6M vs $57.8M），合众银行净利率更高（21.8% vs -5.9%，领先27.7%），过去两年SHENANDOAH TELECOMMUNICATIONS CO的营收复合增速更高（15.0% vs 9.5%）
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。
美国合众银行是一家美国跨国金融机构，总部位于明尼苏达州明尼阿波利斯，在特拉华州注册成立。截至2025年，该银行为美国第五大银行，也是美国中西部规模最大的银行，被金融稳定委员会认定为具有系统重要性的金融机构。它主营银行、投资、抵押贷款等多元金融业务。
SHEN vs WASH — 直观对比
营收规模更大
SHEN
是对方的1.6倍
$57.8M
净利率更高
WASH
高出27.7%
-5.9%
两年增速更快
SHEN
近两年复合增速
9.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $91.6M | $57.8M |
| 净利润 | $-5.4M | $12.6M |
| 毛利率 | — | — |
| 营业利润率 | -1.0% | — |
| 净利率 | -5.9% | 21.8% |
| 营收同比 | 7.2% | — |
| 净利润同比 | -95.8% | 3.5% |
| 每股收益（稀释后） | $-0.13 | $0.66 |
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SHENWASH
| Q1 26 | — | $57.8M | ||
| Q4 25 | $91.6M | $59.3M | ||
| Q3 25 | $89.8M | $56.5M | ||
| Q2 25 | $88.6M | $54.3M | ||
| Q1 25 | $87.9M | $59.1M | ||
| Q4 24 | $85.4M | $12.4M | ||
| Q3 24 | $87.6M | $48.5M | ||
| Q2 24 | $85.8M | $48.2M |
净利润SHENWASH
| Q1 26 | — | $12.6M | ||
| Q4 25 | $-5.4M | $16.0M | ||
| Q3 25 | $-9.4M | $10.8M | ||
| Q2 25 | $-9.0M | $13.2M | ||
| Q1 25 | $-9.1M | $12.2M | ||
| Q4 24 | $-2.7M | $-60.8M | ||
| Q3 24 | $-5.3M | $11.0M | ||
| Q2 24 | $-12.9M | $10.8M |
营业利润率SHENWASH
| Q1 26 | — | — | ||
| Q4 25 | -1.0% | 34.9% | ||
| Q3 25 | -8.0% | 24.7% | ||
| Q2 25 | -10.3% | 31.6% | ||
| Q1 25 | -6.9% | 26.5% | ||
| Q4 24 | -6.7% | -648.7% | ||
| Q3 24 | -4.8% | 28.5% | ||
| Q2 24 | -18.5% | 28.7% |
净利率SHENWASH
| Q1 26 | — | 21.8% | ||
| Q4 25 | -5.9% | 27.0% | ||
| Q3 25 | -10.5% | 19.2% | ||
| Q2 25 | -10.2% | 24.4% | ||
| Q1 25 | -10.4% | 20.6% | ||
| Q4 24 | -3.2% | -491.4% | ||
| Q3 24 | -6.0% | 22.6% | ||
| Q2 24 | -15.0% | 22.4% |
每股收益（稀释后）SHENWASH
| Q1 26 | — | $0.66 | ||
| Q4 25 | $-0.13 | $0.84 | ||
| Q3 25 | $-0.20 | $0.56 | ||
| Q2 25 | $-0.19 | $0.68 | ||
| Q1 25 | $-0.19 | $0.63 | ||
| Q4 24 | $-0.34 | $-3.54 | ||
| Q3 24 | $-0.13 | $0.64 | ||
| Q2 24 | $-0.24 | $0.63 |
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 | $12.3M |
| 总债务越低越好 | $642.4M | — |
| 股东权益账面价值 | $880.8M | $546.8M |
| 总资产 | $1.9B | $6.5B |
| 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SHENWASH
| Q1 26 | — | $12.3M | ||
| Q4 25 | $27.3M | — | ||
| Q3 25 | $22.6M | — | ||
| Q2 25 | $29.1M | — | ||
| Q1 25 | $87.5M | — | ||
| Q4 24 | $46.3M | — | ||
| Q3 24 | $43.1M | — | ||
| Q2 24 | $43.8M | — |
总债务SHENWASH
| Q1 26 | — | — | ||
| 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 | — |
股东权益SHENWASH
| Q1 26 | — | $546.8M | ||
| Q4 25 | $880.8M | $543.6M | ||
| Q3 25 | $892.7M | $533.0M | ||
| Q2 25 | $902.0M | $527.5M | ||
| Q1 25 | $910.5M | $521.7M | ||
| Q4 24 | $918.6M | $499.7M | ||
| Q3 24 | $925.4M | $502.2M | ||
| Q2 24 | $933.1M | $471.0M |
总资产SHENWASH
| Q1 26 | — | $6.5B | ||
| Q4 25 | $1.9B | $6.6B | ||
| Q3 25 | $1.9B | $6.7B | ||
| Q2 25 | $1.8B | $6.7B | ||
| Q1 25 | $1.8B | $6.6B | ||
| Q4 24 | $1.7B | $6.9B | ||
| Q3 24 | $1.7B | $7.1B | ||
| Q2 24 | $1.7B | $7.2B |
负债/权益比SHENWASH
| Q1 26 | — | — | ||
| 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× | — |
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 | — |
| 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SHENWASH
| Q1 26 | — | — | ||
| Q4 25 | $28.8M | $80.3M | ||
| Q3 25 | $30.7M | $39.6M | ||
| Q2 25 | $20.9M | $11.3M | ||
| Q1 25 | $20.5M | $8.4M | ||
| Q4 24 | $20.6M | $57.7M | ||
| Q3 24 | $24.3M | $25.7M | ||
| Q2 24 | $2.5M | $11.2M |
自由现金流SHENWASH
| Q1 26 | — | — | ||
| Q4 25 | $-78.6M | $78.3M | ||
| Q3 25 | $-51.4M | $39.3M | ||
| Q2 25 | $-65.3M | $10.9M | ||
| Q1 25 | $-62.7M | $8.4M | ||
| Q4 24 | $-72.0M | $53.7M | ||
| Q3 24 | $-51.3M | $24.4M | ||
| Q2 24 | $-78.3M | $9.6M |
自由现金流率SHENWASH
| Q1 26 | — | — | ||
| Q4 25 | -85.8% | 132.2% | ||
| Q3 25 | -57.2% | 69.6% | ||
| Q2 25 | -73.7% | 20.2% | ||
| Q1 25 | -71.3% | 14.2% | ||
| Q4 24 | -84.3% | 433.8% | ||
| Q3 24 | -58.5% | 50.4% | ||
| Q2 24 | -91.3% | 19.8% |
资本支出强度SHENWASH
| Q1 26 | — | — | ||
| Q4 25 | 117.2% | 3.4% | ||
| Q3 25 | 91.4% | 0.6% | ||
| Q2 25 | 97.3% | 0.7% | ||
| Q1 25 | 94.7% | 0.1% | ||
| Q4 24 | 108.4% | 32.3% | ||
| Q3 24 | 86.2% | 2.6% | ||
| Q2 24 | 94.2% | 3.4% |
现金转化率SHENWASH
| Q1 26 | — | — | ||
| Q4 25 | — | 5.03× | ||
| Q3 25 | — | 3.65× | ||
| Q2 25 | — | 0.86× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.34× | ||
| Q2 24 | — | 1.03× |
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% |
WASH
| Net Interest Income | $40.5M | 70% |
| Noninterest Income | $17.3M | 30% |
