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Telephone & Data Systems vs Shenandoah Telecommunications: TDS and SHEN compared
Telephone & Data Systems is the larger company: $307M of revenue in its latest quarter (Q3 2026) against $93.9M for Shenandoah Telecommunications (Q3 2026). Shenandoah Telecommunications is growing faster (+5% against -0.6% a year earlier). Shenandoah Telecommunications is more profitable, with an operating margin of -2.1% against -9.8%.
Where the money goes: TDS and SHEN
Telephone & Data Systems (TDS) · Q3 2026
Telephone & Data Systems, Q3 2026: revenue $307M (-0.6% year over year), operating margin -9.8%, net earnings $58.7M, operating cash flow −$108M. The chart follows the revenue to costs, profit and cash.
Shenandoah Telecommunications (SHEN) · Q3 2026
Shenandoah Telecommunications, Q3 2026: revenue $93.9M (+5% year over year), operating margin -2.1%, net loss $9.2M, operating cash flow $27.8M. The chart follows the revenue to costs, profit and cash.
| Telephone & Data Systems (TDS) | Shenandoah Telecommunications (SHEN) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $307M | $93.9M |
| Revenue growth, Y/Y | -0.6% | +5% |
| Operating margin | -9.8% | -2.1% |
| Net earnings | $58.7M | −$9.2M |
| Net margin | 19.1% | -9.8% |
| Operating cash flow | −$108M | $27.8M |
| Market value | $3.9B | — |
| P/E | 5.9× | — |
| Analysts’ mean target | $47.50 | — |
Where the revenue comes from
Telephone & Data Systems
- Service: $249M (81%)
- Site rental: $52.5M (17%)
- Equipment and product sales: $5.7M (2%)
Shenandoah Telecommunications
- Residential & SMB - Incumbent Broadband Markets: $39.1M (42%)
- Residential & SMB - Glo Fiber Expansion Markets: $28.2M (30%)
- Commercial Fiber: $21.1M (22%)
- RLEC & Other: $5.5M (6%)
Questions
Which is bigger, Telephone & Data Systems or Shenandoah Telecommunications?
Telephone & Data Systems is the larger company: $307M of revenue in its latest quarter (Q3 2026) against $93.9M for Shenandoah Telecommunications (Q3 2026).
Is Telephone & Data Systems or Shenandoah Telecommunications growing faster?
Shenandoah Telecommunications is growing faster (+5% against -0.6% a year earlier).
Which is more profitable, Telephone & Data Systems or Shenandoah Telecommunications?
Shenandoah Telecommunications is more profitable, with an operating margin of -2.1% against -9.8%.
More: Telephone & Data Systems earnings · how Telephone & Data Systems makes money · Shenandoah Telecommunications earnings · how Shenandoah Telecommunications makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 6, 2026; 10-Q filed Oct 28, 2026). Fiscal quarters can end on different dates. Not investment advice.