SHEN
Shenandoah Telecommunications Company
SHEN's outlook is improving, though it still trails on the overall score.
TMUS
T-Mobile US, Inc.
TMUS has the edge over SHEN overall, supported by stronger valuation and stronger modeled upside.
SHEN Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Under pressure | |
| Under pressure | |
| Weak |
SHEN's revenue is currently stable, but its profitability, cash flow and balance sheet are under pressure.
TMUS Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Strong | |
| Strong |
TMUS's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
SHEN PE Valuation
SHEN has no meaningful PE right now: it lost money over the past year.
TMUS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 13x | $171 | — |
| Current | 16x | $171 | — |
| Cheap | 21x | $218 | +27% |
| Fair | 26x | $274 | +60% |
| Expensive | 56x | $581 | +240% |
Historical ranges are pointers, not guarantees.
TMUS's PE is in its cheap range at 16x. If earnings grow as analysts expect, today's price would be 13x next year's earnings.
SHEN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses steady | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect SHEN's revenue to grow and its profitability to improve, with its earnings holding steady.
TMUS Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
TMUS has the edge over SHEN on the outlook, with more favorable earnings expectations.
SHEN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2024 | $3.89 | +6383% |
| Q2 2024 | $4.05 | +$4.07 |
| Q1 2024 | $4.33 | +$4.45 |
| Q4 2023 | $0.16 | +$0.33 |
| Q3 2023 | $0.06 | +$0.15 |
| Q2 2023 | -$0.02 | -100% |
| Q1 2023 | -$0.12 | -101% |
| Q4 2022 | -$0.17 | -101% |
TMUS has the stronger earnings trend. Trailing diluted EPS is down 121% for SHEN versus TMUS down 0.2%.
TMUS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $13.49 | +30% |
| Q3 2026 | $10.37 | -0.2% |
| Q2 2026 | $9.56 | -9.7% |
| Q1 2026 | $9.41 | -8.1% |
| Q4 2025 | $9.72 | +0.6% |
| Q3 2025 | $10.39 | +18% |
| Q2 2025 | $10.59 | +33% |
| Q1 2025 | $10.24 | +39% |
| Q4 2024 | $9.66 | +39% |
TMUS earned $10.37 per share over the past year, about the same as the year before.
SHEN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $93.9M | +4.6% |
| Q2 2026 | $93.5M | +5.5% |
| Q1 2026 | $92.2M | +4.8% |
| Q4 2025 | $91.6M | +7.2% |
| Q3 2025 | $89.8M | +2.5% |
| Q2 2025 | $88.6M | +3.2% |
| Q1 2025 | $87.9M | +27% |
| Q4 2024 | $85.4M | +18% |
SHEN's revenue has grown year over year for 10 quarters in a row: $94M last quarter, up 4.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -2.1% | +5.9 points |
| Q2 2026 | -1.1% | +9.2 points |
| Q1 2026 | -11% | -4.4 points |
| Q4 2025 | -0.9% | +5.8 points |
| Q3 2025 | -8% | -3.2 points |
| Q2 2025 | -10% | +8.2 points |
| Q1 2025 | -6.9% | -2.9 points |
| Q4 2024 | -6.7% | -11 points |
SHEN's operating margin was −2.1% last quarter, up 5.9 points from the same quarter a year ago.
TMUS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $23.6B | +7.4% |
| Q2 2026 | $22.8B | +7.9% |
| Q1 2026 | $23.1B | +11% |
| Q4 2025 | $24.3B | +11% |
| Q3 2025 | $22B | +8.9% |
| Q2 2025 | $21.1B | +6.9% |
| Q1 2025 | $20.9B | +6.6% |
| Q4 2024 | $21.9B | +6.8% |
TMUS has the edge over SHEN on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 24% | +3.4 points |
| Q2 2026 | 24% | -0.6 points |
| Q1 2026 | 19% | -3.5 points |
| Q4 2025 | 15% | -5.6 points |
| Q3 2025 | 21% | -3.2 points |
| Q2 2025 | 25% | +1.3 points |
| Q1 2025 | 23% | +2.6 points |
| Q4 2024 | 21% | +4 points |
TMUS has the edge over SHEN on profitability, with a higher operating margin.
SHEN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$41M | +$10.4M |
| Q2 2026 | -$45.9M | +$19.3M |
| Q1 2026 | -$51.5M | +$11.3M |
| Q4 2025 | -$78.6M | -$6.6M |
| Q3 2025 | -$51.4M | -$110K |
| Q2 2025 | -$65.3M | +$13.1M |
| Q1 2025 | -$62.7M | -$7.8M |
| Q4 2024 | -$72M | -$27.9M |
SHEN has burned cash in most quarters: −$217M over the past year, against −$251M the year before.
TMUS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $5.1B | +5.3% |
| Q2 2026 | $4.8B | +4.4% |
| Q1 2026 | $4.6B | +4.6% |
| Q4 2025 | $4.2B | +25% |
| Q3 2025 | $4.8B | +15% |
| Q2 2025 | $4.6B | +32% |
| Q1 2025 | $4.4B | +79% |
| Q4 2024 | $3.3B | +2% |
TMUS has the edge over SHEN on cash generation, producing positive trailing cash flow while its opponent burns cash.
SHEN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +35K shares |
| 1 year | +1.2% | +664K shares |
| 3 years | +9.8% | +5M shares |
| 5 years | +11% | +5.7M shares |
| Available history | +11% | +5.7M shares |
SHEN has 56M diluted shares, up 1.2% from a year ago.
TMUS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1% | -10.8M shares |
| 1 year | -4.9% | -55M shares |
| 3 years | -8.8% | -103M shares |
| 5 years | -15% | -182M shares |
| Available history | +24% | +207M shares |
TMUS has the edge over SHEN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $2.4B |
| Q2 2026 | $2.3B |
| Q1 2026 | $4.8B |
| Q4 2025 | $2.4B |
| Q3 2025 | $2.5B |
| Q2 2025 | $2.6B |
| Q1 2025 | $2.5B |
| Q4 2024 | $4.7B |
TMUS spent $12B buying back its own shares over the past year, down 1.7% from the year before.
SHEN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 6.3x | High |
| Q2 2026 | 6.2x | High |
| Q1 2026 | 6.0x | High |
| Q4 2025 | 5.7x | High |
| Q3 2025 | 5.3x | High |
| Q2 2025 | 5.2x | High |
| Q1 2025 | 5.6x | High |
| Q4 2024 | 5.4x | High |
SHEN's net debt is about 6.3 years of its operating earnings (EBITDA), up from 5.3 years a year ago.
TMUS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.0x | Very low |
| Q2 2026 | 0.1x | Very low |
| Q1 2026 | -0.0x | Net Cash |
| Q4 2025 | 2.5x | Moderate |
| Q3 2025 | 0.1x | Very low |
| Q2 2025 | -0.1x | Net Cash |
| Q1 2025 | -0.1x | Net Cash |
| Q4 2024 | 2.4x | Moderate |
TMUS has the edge over SHEN on leverage, with a lower net debt burden relative to earnings.
SHEN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 36.9 | Neutral |
| Stochastic | 18.7 | Oversold |
SHEN's weekly RSI is 37 (neutral) and its Stochastic is 19 (oversold).
TMUS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 47.9 | Neutral |
| Stochastic | 42.1 | Neutral |
TMUS's weekly RSI is 48 (neutral) and its Stochastic is 42 (neutral).
SHEN PE vs Communication Services Sector
| Metric | SHEN | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 16x | — |
SHEN has no meaningful PE right now: it lost money over the past year.
TMUS PE vs Communication Services Sector
| Metric | TMUS | Sector median | Relative |
|---|---|---|---|
| PE | 16x | 16x | Same PE |
| PE % | 1 | 26 | 25 pts below |
TMUS is trading at 16x earnings, in line with the Communication Services sector's median of 16x.
SHEN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $10.5 | 2% below |
| 20 week MA | $11.6 | 12% below |
| 50 week MA | $13.0 | 21% below |
| 100 week MA | $12.8 | 20% below |
| 200 week MA | $15.6 | 34% below |
SHEN is in a downtrend: it's below all five of its weekly moving averages, and 34% below its 200-week average.
TMUS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $159.1 | 7.5% above |
| 20 week MA | $172.0 | 0.5% below |
| 50 week MA | $187.8 | 8.9% below |
| 100 week MA | $212.9 | 20% below |
| 200 week MA | $188.7 | 9.4% below |
TMUS has the edge over SHEN on trend strength, trading above more of its moving averages.
SHEN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $41.1 | $43.6 | +6.2% |
| 2021 | $43.6 | $26.6 | -39% |
| 2022 | $26.6 | $16.7 | -37% |
| 2023 | $16.7 | $21.6 | +30% |
| 2024 | $21.6 | $12.4 | -42% |
| 2025 | $12.4 | $11.3 | -9.1% |
| 2026 YTD | $11.3 | $10.3 | -9.3% |
SHEN has the edge over TMUS on returns for 2026, with the stronger performance.
TMUS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $77.2 | $132.9 | +72% |
| 2021 | $132.9 | $119.9 | -9.8% |
| 2022 | $119.9 | $140.0 | +17% |
| 2023 | $140.0 | $160.3 | +15% |
| 2024 | $160.3 | $223.0 | +39% |
| 2025 | $223.0 | $201.0 | -9.9% |
| 2026 YTD | $201.0 | $171.0 | -15% |
TMUS has finished higher in four of the last six years. It's down 15% so far in 2026.