Shenandoah Telecommunications Co (SHEN) - Net Assets
Based on the latest financial reports, Shenandoah Telecommunications Co (SHEN) has net assets worth $957.04 Million USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($1.95 Billion) and total liabilities ($995.92 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Shenandoah Telecommunications Co (SHEN) tangible equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $957.04 Million |
| % of Total Assets | 49.0% |
| Annual Growth Rate | 11.27% |
| 5-Year Change | 50.91% |
| 10-Year Change | 227.58% |
| Growth Volatility | 12.05 |
Shenandoah Telecommunications Co - Net Assets Trend (1992–2025)
This chart illustrates how Shenandoah Telecommunications Co's net assets have evolved over time, based on quarterly financial data. See Shenandoah Telecommunications Co defensive interval ratio to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Shenandoah Telecommunications Co (1992–2025)
The table below shows the annual net assets of Shenandoah Telecommunications Co from 1992 to 2025. For live valuation and market cap data, see SHEN market cap.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $969.29 Million | -3.17% |
| 2024-12-31 | $1.00 Billion | +53.38% |
| 2023-12-31 | $652.67 Million | +2.30% |
| 2022-12-31 | $638.01 Million | -0.66% |
| 2021-12-31 | $642.27 Million | +11.30% |
| 2020-12-31 | $577.05 Million | +22.93% |
| 2019-12-31 | $469.42 Million | +6.14% |
| 2018-12-31 | $442.25 Million | +26.28% |
| 2017-12-31 | $350.22 Million | +18.36% |
| 2016-12-31 | $295.89 Million | +2.05% |
| 2015-12-31 | $289.94 Million | +12.23% |
| 2014-12-31 | $258.35 Million | +10.26% |
| 2013-12-31 | $234.31 Million | +12.73% |
| 2012-12-31 | $207.85 Million | +5.15% |
| 2011-12-31 | $197.66 Million | +3.86% |
| 2010-12-31 | $190.31 Million | +8.33% |
| 2009-12-31 | $175.67 Million | +4.81% |
| 2008-12-31 | $167.61 Million | +10.91% |
| 2007-12-31 | $151.12 Million | +11.79% |
| 2006-12-31 | $135.19 Million | +11.18% |
| 2005-12-31 | $121.60 Million | +6.86% |
| 2004-12-31 | $113.80 Million | +7.15% |
| 2003-12-31 | $106.21 Million | +35.74% |
| 2002-12-31 | $78.24 Million | +2.36% |
| 2001-12-31 | $76.44 Million | +12.33% |
| 2000-12-31 | $68.05 Million | -6.44% |
| 1999-12-31 | $72.73 Million | +40.38% |
| 1998-12-31 | $51.81 Million | +7.04% |
| 1997-12-31 | $48.40 Million | +7.87% |
| 1996-12-31 | $44.87 Million | +10.06% |
| 1995-12-31 | $40.77 Million | +13.77% |
| 1994-12-31 | $35.84 Million | +14.86% |
| 1993-12-31 | $31.20 Million | +9.09% |
| 1992-12-31 | $28.60 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Shenandoah Telecommunications Co's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 2927.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $723.57 Million | 82.15% |
| Other Components | $157.22 Million | 17.85% |
| Total Equity | $880.78 Million | 100.00% |
Shenandoah Telecommunications Co Competitors by Market Cap
The table below lists competitors of Shenandoah Telecommunications Co ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Marimaca Copper Corp.
AU:MC2
|
$802.26 Million |
|
Westlake Chemical Partners LP
NYSE:WLKP
|
$802.55 Million |
|
Mesnac Co Ltd
SHE:002073
|
$802.79 Million |
|
Cheng Loong Corp
TW:1904
|
$803.08 Million |
|
Hanmi Financial Corporation
NASDAQ:HAFC
|
$801.90 Million |
|
ChengDa Pharmaceuticals Co. Ltd.
SHE:301201
|
$801.89 Million |
|
Xiandai Investment Co Ltd
SHE:000900
|
$801.80 Million |
|
Pick N Pay Stores Ltd
JSE:PIK
|
$801.80 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Shenandoah Telecommunications Co's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 918,583,000 to 880,783,000, a change of -37,800,000 (-4.1%).
- Net loss of 39,392,000 reduced equity.
- Dividend payments of 6,445,000 reduced retained earnings.
- Other comprehensive income decreased equity by 1,853,000.
- Other factors increased equity by 9,890,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-39.39 Million | -4.47% |
| Dividends Paid | $6.45 Million | -0.73% |
| Other Comprehensive Income | $-1.85 Million | -0.21% |
| Other Changes | $9.89 Million | +1.12% |
| Total Change | $- | -4.12% |
Book Value vs Market Value Analysis
This analysis compares Shenandoah Telecommunications Co's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.91x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 22.87x to 0.91x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1992-12-31 | $0.63 | $14.50 | x |
| 1993-12-31 | $0.69 | $14.50 | x |
| 1994-12-31 | $0.77 | $14.50 | x |
| 1995-12-31 | $0.87 | $14.50 | x |
| 1996-12-31 | $0.96 | $14.50 | x |
| 1997-12-31 | $1.03 | $14.50 | x |
| 1998-12-31 | $1.10 | $14.50 | x |
| 1999-12-31 | $1.56 | $14.50 | x |
| 2000-12-31 | $1.50 | $14.50 | x |
| 2001-12-31 | $1.63 | $14.50 | x |
| 2002-12-31 | $1.69 | $14.50 | x |
| 2003-12-31 | $2.33 | $14.50 | x |
| 2004-12-31 | $2.48 | $14.50 | x |
| 2005-12-31 | $2.63 | $14.50 | x |
| 2006-12-31 | $2.90 | $14.50 | x |
| 2007-12-31 | $3.22 | $14.50 | x |
| 2008-12-31 | $3.55 | $14.50 | x |
| 2009-12-31 | $3.72 | $14.50 | x |
| 2010-12-31 | $4.00 | $14.50 | x |
| 2011-12-31 | $4.18 | $14.50 | x |
| 2012-12-31 | $4.34 | $14.50 | x |
| 2013-12-31 | $4.86 | $14.50 | x |
| 2014-12-31 | $5.30 | $14.50 | x |
| 2015-12-31 | $5.91 | $14.50 | x |
| 2016-12-31 | $6.06 | $14.50 | x |
| 2017-12-31 | $7.00 | $14.50 | x |
| 2018-12-31 | $8.83 | $14.50 | x |
| 2019-12-31 | $9.37 | $14.50 | x |
| 2020-12-31 | $11.54 | $14.50 | x |
| 2021-12-31 | $12.81 | $14.50 | x |
| 2022-12-31 | $12.72 | $14.50 | x |
| 2023-12-31 | $12.87 | $14.50 | x |
| 2024-12-31 | $17.10 | $14.50 | x |
| 2025-12-31 | $15.99 | $14.50 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Shenandoah Telecommunications Co utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -4.47%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -11.01%
- • Asset Turnover: 0.19x
- • Equity Multiplier: 2.17x
- Recent ROE (-4.47%) is below the historical average (15.82%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1992 | 13.99% | 22.99% | 0.39x | 1.57x | $1.14 Million |
| 1993 | 14.74% | 25.14% | 0.37x | 1.59x | $1.48 Million |
| 1994 | 14.01% | 23.98% | 0.39x | 1.52x | $1.39 Million |
| 1995 | 15.87% | 28.43% | 0.37x | 1.53x | $2.30 Million |
| 1996 | 11.58% | 19.64% | 0.32x | 1.84x | $681.80K |
| 1997 | 9.63% | 14.46% | 0.35x | 1.92x | $-171.49K |
| 1998 | 11.31% | 15.74% | 0.38x | 1.89x | $649.10K |
| 1999 | 9.15% | 15.22% | 0.32x | 1.89x | $-599.50K |
| 2000 | 14.48% | 16.50% | 0.40x | 2.21x | $3.05 Million |
| 2001 | 21.95% | 18.45% | 0.53x | 2.24x | $8.91 Million |
| 2002 | 5.90% | 4.86% | 0.57x | 2.14x | $-3.14 Million |
| 2003 | 30.20% | 30.30% | 0.57x | 1.75x | $21.45 Million |
| 2004 | 9.00% | 8.47% | 0.57x | 1.86x | $-1.14 Million |
| 2005 | 8.83% | 7.33% | 0.71x | 1.69x | $-1.43 Million |
| 2006 | 13.26% | 10.59% | 0.81x | 1.54x | $4.40 Million |
| 2007 | 12.44% | 13.32% | 0.64x | 1.47x | $3.69 Million |
| 2008 | 14.56% | 16.90% | 0.54x | 1.59x | $7.64 Million |
| 2009 | 8.59% | 9.40% | 0.59x | 1.55x | $-2.48 Million |
| 2010 | 9.50% | 9.27% | 0.42x | 2.45x | $-955.50K |
| 2011 | 6.57% | 5.17% | 0.52x | 2.43x | $-6.77 Million |
| 2012 | 7.84% | 5.66% | 0.50x | 2.75x | $-4.48 Million |
| 2013 | 12.63% | 9.58% | 0.52x | 2.55x | $6.15 Million |
| 2014 | 13.12% | 10.36% | 0.53x | 2.40x | $8.05 Million |
| 2015 | 14.09% | 11.93% | 0.54x | 2.17x | $11.87 Million |
| 2016 | -0.30% | -0.17% | 0.36x | 5.02x | $-30.48 Million |
| 2017 | 18.96% | 10.85% | 0.43x | 4.03x | $31.37 Million |
| 2018 | 10.54% | 7.39% | 0.42x | 3.36x | $2.37 Million |
| 2019 | 11.82% | 26.83% | 0.11x | 3.96x | $8.56 Million |
| 2020 | 21.78% | 56.92% | 0.11x | 3.51x | $67.97 Million |
| 2021 | 155.51% | 407.29% | 0.28x | 1.39x | $934.60 Million |
| 2022 | -1.31% | -3.37% | 0.25x | 1.53x | $-72.18 Million |
| 2023 | 1.23% | 2.80% | 0.24x | 1.86x | $-57.23 Million |
| 2024 | 20.73% | 58.03% | 0.19x | 1.89x | $98.53 Million |
| 2025 | -4.47% | -11.01% | 0.19x | 2.17x | $-127.47 Million |
Industry Comparison
This section compares Shenandoah Telecommunications Co's net assets metrics with peer companies in the Telecom Services industry.
Industry Context
- Industry: Telecom Services
- Average net assets among peers: $56,513,324,700
- Average return on equity (ROE) among peers: 2.46%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Shenandoah Telecommunications Co (SHEN) | $957.04 Million | 13.99% | 1.04x | $802.17 Million |
| Array Digital Infrastructure, Inc. (AD) | $4.44 Billion | 5.16% | 1.18x | $2.08 Billion |
| America Movil SAB de CV ADR (AMX) | $177.91 Billion | 43.28% | 1.55x | $71.77 Billion |
| Anterix Inc (ATEX) | $180.76 Million | -23.23% | 0.09x | $1.21 Billion |
| ATN International Inc (ATNI) | $769.30 Million | -0.73% | 1.22x | $394.67 Million |
| Altice USA Inc (ATUS) | $3.68 Billion | 0.51% | 8.13x | $502.28 Million |
| Cable One Inc (CABO) | $1.43 Billion | -24.86% | 2.90x | $244.33 Million |
| Cogent Communications Group Inc (CCOI) | $-293.17 Million | 0.00% | 0.00x | $717.66 Million |
| Chunghwa Telecom Co Ltd (CHT) | $369.91 Billion | 10.79% | 0.19x | $33.99 Billion |
| Charter Communications Inc (CHTR) | $-7.69 Billion | 0.00% | 0.00x | $18.64 Billion |
| Comcast Corp (CMCSA) | $14.80 Billion | 13.66% | 1.41x | $80.84 Billion |
About Shenandoah Telecommunications Co
Shenandoah Telecommunications Company, together with its subsidiaries, provides broadband services and video and voice services in the United States. The company offers broadband internet, video, and voice services; high-speed Ethernet and dark fiber leasing services; and managed network services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, Kentucky,… Read more