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Shenandoah Telecommunications vs AT&T: revenue, profit, margins and growth compared

Shenandoah Telecommunications brought in $357.9M of revenue in fiscal 2025, AT&T $125.6B in fiscal 2025. Revenue changed by +9.1% at Shenandoah Telecommunications and +2.7% at AT&T on the year before, so Shenandoah Telecommunications grew faster. Shenandoah Telecommunications kept -9.2% of its revenue as net profit, AT&T 17.5%. Free cash flow was -$257.9M at Shenandoah Telecommunications and $19.4B at AT&T.

Side by side, latest fiscal year

SHENT
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$357.9M$125.6B
Revenue growth+9.1%+2.7%
Net income-$32.9M$22B
Net margin-9.2%17.5%
Free cash flow-$257.9M$19.4B
Free cash flow margin-72.1%15.5%
Earnings per share (diluted)-$0.71$3.04
Cash$27.3M$18.2B
Debt$642.4M$134.7B
Price to earningsn/a8.3
Market value$627.6M$173.9B
Dividend yield0.94%4.37%
Rank by revenue in sector#32 of 51 · Telecommunications#2 of 51 · Telecommunications

Over the years

Revenue
SHEN FY2018: $192.7MSHEN FY2019: $206.9MSHEN FY2020: $220.8MSHEN FY2021: $245.2MSHEN FY2022: $248.9MSHEN FY2023: $269.1MSHEN FY2024: $328.1MSHEN FY2025: $357.9MT FY2018: $170.8BT FY2019: $181.2BT FY2020: $143.1BT FY2021: $134BT FY2022: $120.7BT FY2023: $122.4BT FY2024: $122.3BT FY2025: $125.6BFY18FY19FY20FY21FY22FY23FY24FY25
SHEN $357.9MT $125.6B
Net income
SHEN FY2018: $46.6MSHEN FY2019: $55.5MSHEN FY2020: $125.7MSHEN FY2021: $998.8MSHEN FY2022: -$8.4MSHEN FY2023: $8MSHEN FY2024: $193.8MSHEN FY2025: -$32.9MT FY2018: $19.4BT FY2019: $13.9BT FY2020: -$5.2BT FY2021: $20.1BT FY2022: -$8.5BT FY2023: $14.4BT FY2024: $10.9BT FY2025: $22BFY18FY19FY20FY21FY22FY23FY24FY25
SHEN -$32.9MT $22B
Net margin
SHEN FY2018: 24.2%SHEN FY2019: 26.8%SHEN FY2020: 56.9%SHEN FY2021: 407.3%SHEN FY2022: -3.4%SHEN FY2023: 3.0%SHEN FY2024: 59.1%SHEN FY2025: -9.2%T FY2018: 11.3%T FY2019: 7.7%T FY2020: -3.6%T FY2021: 15.0%T FY2022: -7.1%T FY2023: 11.8%T FY2024: 8.9%T FY2025: 17.5%FY18FY19FY20FY21FY22FY23FY24FY25
SHEN -9.2%T 17.5%
Revenue growth
SHEN FY2019: +7.4%SHEN FY2020: +6.7%SHEN FY2021: +11.1%SHEN FY2022: +1.5%SHEN FY2023: +8.1%SHEN FY2024: +21.9%SHEN FY2025: +9.1%T FY2019: +6.1%T FY2020: -21.1%T FY2021: -6.3%T FY2022: -9.9%T FY2023: +1.4%T FY2024: -0.1%T FY2025: +2.7%FY19FY20FY21FY22FY23FY24FY25
SHEN +9.1%T +2.7%
Free cash flow
SHEN FY2018: $209MSHEN FY2019: $192.1MSHEN FY2020: $182.4MSHEN FY2021: -$411MSHEN FY2022: -$114.1MSHEN FY2023: -$141.3MSHEN FY2024: -$256.5MSHEN FY2025: -$257.9MT FY2018: $22.4BT FY2019: $29BT FY2020: $28.4BT FY2021: $26.4BT FY2022: $16.2BT FY2023: $20.5BT FY2024: $18.5BT FY2025: $19.4BFY18FY19FY20FY21FY22FY23FY24FY25
SHEN -$257.9MT $19.4B

Fiscal years as each company reports them; the two may end in different months.

Questions about Shenandoah Telecommunications and AT&T

Which is bigger by revenue, Shenandoah Telecommunications or AT&T?

AT&T is bigger by revenue: $125.6B in fiscal 2025, against $357.9M for Shenandoah Telecommunications in fiscal 2025.

Which keeps more of its revenue as profit, Shenandoah Telecommunications or AT&T?

Shenandoah Telecommunications had a net margin of -9.2% in fiscal 2025; AT&T had 17.5% in fiscal 2025.

Which grew revenue faster, Shenandoah Telecommunications or AT&T?

In their latest fiscal years revenue changed by +9.1% at Shenandoah Telecommunications and +2.7% at AT&T.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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