Shenandoah Telecommunications Company Financial Ratios — SHEN

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	6.7	8.02	13.43	13.86	14.95	-0.31	22.65	13.63	13.59	26.06	177.2	-1.43	1.38	28.65	-4.41
Return on Assets (%)	2.75	3.1	5.07	5.57	6.56	-0.08	4.58	3.22	3.28	6.41	68.53	-0.9	0.73	13.12	-1.8
Return on Capital (%)	4.62	5.09	7.68	8.23	9.32	-1.55	- -	- -	7.21	- -	- -	- -	1.35	- -	- -
Return on Invested Capital (%)	4.73	6.47	7.33	7.91	9.5	-3.67	- -	- -	-0.11	- -	- -	- -	0.24	- -	- -
Gross Margin (%)	57.54	59.24	59.49	60.32	64.57	63.85	65.44	58.26	59.6	59.39	58.29	58.91	62.53	60.95	63.64
EBITDA Margin (%)	35.06	38.19	37.59	39.1	43.31	38.94	38.33	21.5	21.97	20.88	24.67	22.3	24.68	25.72	30.61
Operating Margin (%)	12.86	15.83	17.93	18.95	22.67	12.1	9.4	-1.54	-0.65	-1.18	2.15	-4.4	1.14	-4.29	-6.17
Incremental Operating Margin (%)	-0.07	36.07	46.95	36.3	100.97	-6.68	-9.41	- -	- -	- -	32.23	- -	69.34	- -	- -
Pretax Margin (%)	9.64	9.93	16.01	17.14	20.03	0.36	2.17	0.38	0.94	0.27	2.54	-7.56	0.56	-11.59	-11.7
Profit Margin (%)	5.17	5.66	9.58	10.36	11.93	-0.17	10.85	24.18	26.83	56.92	407.29	-3.37	2.99	59.08	-9.21
Net Income to Common Margin (%)	5.17	5.66	9.58	10.36	11.93	-0.17	10.85	24.18	26.83	56.92	407.29	-3.37	2.99	59.08	-9.21
Effective Tax Rate (%)	44.07	41.97	40.19	39.53	40.42	146.02	- -	- -	0.31	- -	- -	- -	33.03	- -	- -
Dvd Payout Ratio (%)	54.07	44.59	27.69	31.76	27.13	-1,307.82	18.46	619.31	721.69	1,042.13	11,858.44	-25.89	445.18	-20.47	-19.56
Sustainable Growth Rate (%)	3.08	4.45	9.72	9.46	10.89	-4.36	18.47	-70.78	-84.51	-245.53	-20,835.68	-1.8	-4.76	34.51	-5.28

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	181	232	230	224	200	829	822	770	766	738	57	130	311	431	642
ST Debt	22	2	6	23	22	32	64	21	33	690	3	3	9	12	3
LT Debt	159	230	224	201	177	797	758	750	733	48	53	126	301	418	639
Total Debt/EBITDA	2.05	2.11	1.98	1.75	1.35	3.98	3.5	18.6	16.86	16.01	0.94	2.34	4.68	5.11	5.86
Net Debt/EBITDA	1.87	1.46	1.65	1.22	0.83	3.8	3.17	16.54	13.61	10.7	-1.39	0.56	2.42	4.39	5.49
Total Debt/EBIT	5.59	5.09	4.15	3.62	2.57	12.81	14.28	-259.43	-570.84	-283.74	10.72	-11.84	101.64	-30.59	-29.08
Net Debt/EBIT	5.1	3.53	3.46	2.51	1.58	12.25	12.92	-230.77	-460.85	-189.57	-15.97	-2.82	52.55	-26.32	-27.24
EBITDA to Interest Expense	10.62	14.02	13.71	15.69	20.17	8.3	6.13	1.19	1.54	- -	- -	35.21	15.77	5.31	4.32
EBITDA-CapEx/Interest Expense	1.62	2.67	-0.11	7.31	10.69	1.4	2.3	-2.73	0.97	- -	- -	35.21	15.77	5.31	4.32
EBIT to Interest Expense	3.9	5.81	6.54	7.6	10.55	2.58	1.5	-0.09	-0.05	- -	- -	-6.95	0.73	-0.89	-0.87
Interest Expense	8	8	8	8	7	25	38	35	29	- -	- -	2	4	16	25
Common Equity/Total Assets	41.18	36.57	38.81	41.54	46.16	19.48	21.05	26.03	22.65	26.4	66.57	59.38	48.1	44.19	37.87
Long-Term Debt/Equity (%)	80.27	110.66	95.7	77.9	61.11	269.43	216.31	169.5	155.09	8.25	8.3	19.79	46.18	41.8	65.91
Long-Term Debt/Capital (%)	41.95	52.19	48.57	41.8	36.22	71.28	67.69	64.8	61.26	3.74	8.21	17.78	33.68	32.64	43.95
Long-Term Debt/Total Assets (%)	33.06	40.3	37.56	32.5	28.25	53.71	53.66	50.49	38.58	2.35	5.98	12.92	24.82	24.05	33.44
Total Debt/Equity (%)	91.36	111.61	98.16	86.8	68.86	280.26	234.7	174.17	162.15	127.9	8.82	20.34	47.6	43.03	66.2
Total Debt/Capital (%)	47.74	52.64	49.81	46.58	40.82	74.15	73.44	66.59	64.05	58	8.72	18.27	34.72	33.59	44.14
Total Debt/Total Assets (%)	37.62	40.64	38.53	36.21	31.84	55.87	58.22	51.88	40.34	36.46	6.36	13.27	25.59	24.75	33.58
Net Debt to Equity	83.33	77.41	81.81	60.13	42.37	268.03	212.26	154.93	130.91	85.45	-13.13	4.84	24.61	37.02	62
Net Debt/Capital (%)	45.45	43.53	45.27	37.65	29.79	73.28	71.44	63.93	56.51	45.78	-14.92	4.64	21.26	29.99	42.13
EBITDA	88	110	116	128	148	208	235	41	45	46	60	56	66	84	110
EBITDA-CapEx	13	21	-1	60	79	35	88	-95	29	46	60	56	66	84	110
Operating Income (Loss)	32	46	55	62	78	65	58	-3	-1	-3	5	-11	3	-14	-22

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.29	1.22	0.87	1.17	1.26	0.22	0.57	0.96	0.66	0.16	1.27	0.46	1.42	0.4	0.25
Current Ratio	1.16	2	2.23	2.17	2.11	0.98	1.26	2.37	1.57	1.16	2.47	1.33	1.79	0.82	0.9
Quick Ratio	0.9	1.74	1.83	1.93	1.88	0.65	1.09	2.01	1.14	0.22	2.04	0.98	1.66	0.67	0.56
CFO/Avg Current Liab	1.61	1.71	1.85	2.23	1.99	1.44	1.48	2.35	2.14	0.44	-0.39	0.91	1.17	0.59	0.91
Common Equity/Total Assets	41.18	36.57	38.81	41.54	46.16	19.48	21.05	26.03	22.65	26.4	66.57	59.38	48.1	44.19	37.87
Long-Term Debt/Equity (%)	80.27	110.66	95.7	77.9	61.11	269.43	216.31	169.5	155.09	8.25	8.3	19.79	46.18	41.8	65.91
Long-Term Debt/Capital (%)	41.95	52.19	48.57	41.8	36.22	71.28	67.69	64.8	61.26	3.74	8.21	17.78	33.68	32.64	43.95
Long-Term Debt/Total Assets (%)	33.06	40.3	37.56	32.5	28.25	53.71	53.66	50.49	38.58	2.35	5.98	12.92	24.82	24.05	33.44
Total Debt/Equity (%)	91.36	111.61	98.16	86.8	68.86	280.26	234.7	174.17	162.15	127.9	8.82	20.34	47.6	43.03	66.2
Total Debt/Capital (%)	47.74	52.64	49.81	46.58	40.82	74.15	73.44	66.59	64.05	58	8.72	18.27	34.72	33.59	44.14
Total Debt/Total Assets (%)	37.62	40.64	38.53	36.21	31.84	55.87	58.22	51.88	40.34	36.46	6.36	13.27	25.59	24.75	33.58
CFO/Total Liabilities	28.66	26.72	25.99	31.86	35.38	13.59	21	25.48	18.17	20.93	-101	22.05	20.26	8.46	10.73
CFO/CapEx	1.08	1.09	0.81	1.69	1.71	0.93	1.52	1.94	15.48	- -	- -	- -	- -	- -	- -
Altman's Z-Score	2.07	2.15	2.62	2.95	3.71	1.9	2.36	2.16	1.37	1.52	4.59	2.59	2.21	1.39	1.14

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	11.93	12.32	12.09	11.64	11.39	10.75	9.87	3.55	3.5	3.29	5.31	11.68	13.32	13.25	11.69
Days Sales Outstanding	30.61	29.62	30.18	31.37	32.05	33.95	36.97	102.85	104.15	110.8	68.76	31.25	27.39	27.54	31.22
Inventory Turnover	15.42	13.61	12.21	13.3	18.7	8.95	9.45	14.66	15.2	31.3	- -	- -	- -	- -	- -
Days Inventory Outstanding	23.67	26.83	29.9	27.44	19.52	40.76	38.61	24.89	24.01	11.66	- -	- -	- -	- -	- -
Accounts Payable Turnover	9	5.51	5.69	10.76	9.66	5.32	3.5	2.46	2.2	2.8	4.25	2.63	1.96	2.3	2.18
Accounts Payable Turnover Days	40.56	66.21	64.18	33.92	37.78	68.58	104.24	148.18	165.66	130.24	85.88	138.67	185.88	158.64	167.15
Cash Conversion Cycle	13.71	-9.76	-4.09	24.89	13.79	6.13	-28.66	-20.44	-37.51	-7.78	-17.12	-107.42	-158.49	-131.11	-135.93
Inventory to Cash Days	6.94	2.8	0.28	3.93	12.53	-6.82	-1.64	77.96	80.14	99.14	68.76	31.25	27.39	27.54	31.22
Inventories	7	10	11	9	4	39	6	5	6	- -	- -	- -	- -	- -	- -
Raw Materials	7	10	11	9	4	39	6	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	5	6	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	248	367	616	753	1,042	1,332	1,661	2,192	2,073	2,158	1,276	796	1,090	677	637
- Cash & Cash Equivalents	16	71	38	69	77	36	79	85	102	195	84	44	139	46	27
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	82	89
+ Total Debt	181	232	230	224	200	829	822	770	766	738	57	130	311	431	642
Enterprise Value	412	528	808	909	1,165	2,126	2,405	2,877	2,737	2,701	1,247	882	1,261	1,144	1,340
Total Capital	378	441	462	481	489	1,118	1,119	1,157	1,196	1,272	650	710	895	1,282	1,454
Total Debt/Capital (%)	47.74	52.64	49.81	46.58	40.82	74.15	73.44	66.59	64.05	58	8.72	18.27	34.72	33.59	44.14
Total Debt / EV	0.44	0.44	0.28	0.25	0.17	0.39	0.34	0.27	0.28	0.27	0.05	0.15	0.25	0.38	0.48
EV/Sales	1.64	1.83	2.62	2.78	3.4	3.97	3.93	14.93	13.23	12.23	5.09	3.54	4.69	3.49	3.74
EV/EBITDA	4.68	4.8	6.96	7.11	7.85	10.2	10.25	69.47	60.23	58.58	20.62	15.89	18.98	13.56	12.23
EV/EBIT	12.77	11.58	14.58	14.67	15	32.82	41.79	- -	- -	- -	236.07	- -	412.5	- -	- -
EV/Cash Flow to Firm	4.82	5.2	8.13	7.58	9.41	14.17	5.8	7.9	9.49	8.92	- -	11.58	10.82	15.38	11.08
EV/Free Cash Flow to Firm	2.57	2.77	3.73	4.83	6.02	6.58	4.29	5.74	8.97	8.92	- -	11.58	10.82	15.38	11.08
Diluted Market Cap	248	367	619	761	1,055	1,332	1,691	2,215	2,085	2,164	1,279	796	1,096	677	637
Diluted Enterprise Value	412	528	811	917	1,178	2,126	2,434	2,900	2,749	2,706	1,251	882	1,268	1,144	1,340
EV per Share	8.73	11.02	16.83	18.85	24.07	43.55	48.92	58.08	54.95	54.12	24.93	17.59	25.02	21.3	24.32
TTM Sales	251	288	309	327	342	535	612	193	207	221	245	249	269	328	358
TTM EBITDA	88	110	116	128	148	208	235	41	45	46	60	56	66	84	110
TTM Operating Income	32	46	55	62	78	65	58	-3	-1	-3	5	-11	3	-14	-22
TTM Cash Flow to Firm	86	102	99	120	124	150	414	364	289	303	-251	76	117	74	121
TTM Free Cash Flow to Firm	160	191	216	188	193	323	561	501	305	303	-251	76	117	74	121

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	1.59	1.97	2.93	4.16	5.58	3.98	4.58	5.51	7.56	7.14	-5.1	10.63	9.64	10.83	6.31
EV/EBIT	12.77	11.58	14.58	14.67	15	32.82	41.79	- -	- -	- -	236.07	- -	412.5	- -	- -
Enterprise Value	412	528	808	909	1,165	2,126	2,405	2,877	2,737	2,701	1,247	882	1,261	1,144	1,340
Low Price	4.55	4.51	6.53	11.51	13.76	19.18	25.35	29.93	29.61	38.35	24.44	15.63	15.62	11.87	9.66
EV/Sales	1.64	1.83	2.62	2.78	3.4	3.97	3.93	14.93	13.23	12.23	5.09	3.54	4.69	3.49	3.74
EV/EBITDA	4.68	4.8	6.96	7.11	7.85	10.2	10.25	69.47	60.23	58.58	20.62	15.89	18.98	13.56	12.23
Price/Earnings	19.05	22.52	20.83	22.23	25.49	- -	25.02	47.05	37.34	17.17	1.28	- -	135.55	3.5	- -
Price/Earnings Average	27.35	19.41	15.39	19.86	21.94	-1,542.11	23.96	38.75	35.56	18.97	2.02	-126.82	127.27	4.53	-20.93
Price/Earnings High	35.49	27.93	23.66	24.18	30.4	-2,326.38	30.95	54.66	45.93	23.8	3.08	-159.1	159.94	6.17	-26.49
Price/Earnings Low	16.55	13.26	10.59	16.37	16.29	-1,045.94	18.77	31.82	26.57	15.23	1.22	-93.56	97.93	3.29	-16.16
Price/Book Value	1.25	1.76	2.66	2.93	3.6	4.61	5.59	5.67	4.82	4.04	2.15	1.37	1.87	0.88	0.88
Price/Book Value Average	1.8	1.52	1.97	2.62	3.1	4.77	5.35	4.67	4.59	4.46	3.4	1.83	1.75	1.14	0.95
Price/Book Value High	2.33	2.18	3.02	3.19	4.29	7.2	6.91	6.59	5.93	5.6	5.19	2.3	2.2	1.56	1.21
Price/Book Value Low	1.09	1.04	1.35	2.16	2.3	3.24	4.19	3.84	3.43	3.58	2.06	1.35	1.35	0.83	0.74
Price/Tangible Book Value	2.13	2.76	3.77	3.96	4.67	-4.38	-9.37	-31.19	5.39	4.59	2.31	1.43	1.91	0.8	0.78
Price/Tangible Book Value Average	3.05	2.38	2.79	3.54	4.02	-4.54	-8.97	-25.69	5.14	5.07	3.65	1.91	1.79	1.04	0.85
Price/Tangible Book Value High	3.96	3.43	4.28	4.31	5.57	-6.85	-11.59	-36.24	6.64	6.36	5.57	2.4	2.25	1.42	1.07
Price/Tangible Book Value Low	1.85	1.63	1.92	2.92	2.99	-3.08	-7.03	-21.1	3.84	4.07	2.21	1.41	1.38	0.76	0.66
Price/Sales	0.99	1.27	2	2.3	3.04	2.49	2.71	11.38	10.02	9.78	5.2	3.2	4.05	2.06	1.78
Price/Sales Average	1.41	1.1	1.47	2.06	2.62	2.58	2.6	9.37	9.54	10.8	8.21	4.27	3.8	2.67	1.93
Price/Sales High	1.84	1.58	2.27	2.51	3.63	3.89	3.36	13.22	12.32	13.55	12.55	5.36	4.78	3.65	2.44
Price/Sales Low	0.86	0.75	1.01	1.7	1.94	1.75	2.04	7.7	7.13	8.67	4.99	3.15	2.92	1.94	1.49
Price/Cash Flow	3.06	3.79	6.54	6.55	8.73	8.25	7.45	8.25	8	7.13	-5.08	10.63	9.58	10.83	6.31
Price/Cash Flow Average	4.39	3.26	4.83	5.85	7.51	8.54	7.14	6.8	7.62	7.87	-8.03	14.19	8.99	14.02	6.83
Price/Cash Flow High	5.7	4.69	7.42	7.13	10.41	12.89	9.22	9.59	9.84	9.87	-12.27	17.8	11.3	19.12	8.64
Price/Cash Flow Low	2.66	2.23	3.33	4.82	5.58	5.8	5.59	5.58	5.69	6.32	-4.87	10.47	6.92	10.19	5.27
Price/Free Cash Flow Average	2.28	1.7	2.17	3.71	4.8	4.12	4.38	4.54	7.2	7.89	-8.05	14.19	9.05	14.02	6.83
Price/Free Cash Flow High	2.96	2.45	3.33	4.52	6.66	6.22	5.66	6.4	9.29	9.9	-12.3	17.8	11.37	19.12	8.64
Price/Free Cash Flow Low	1.38	1.16	1.49	3.06	3.57	2.8	3.43	3.72	5.38	6.33	-4.88	10.47	6.96	10.19	5.27
EV/Sales Average	2.07	1.66	2.09	2.53	2.98	4.06	3.81	12.93	12.75	13.25	8.1	4.61	4.44	4.1	3.89
EV/Sales High	2.49	2.14	2.89	2.98	3.99	5.37	4.57	16.77	15.54	16	12.44	5.7	5.41	5.07	4.4
EV/Sales Low	1.51	1.31	1.64	2.17	2.3	3.23	3.25	11.25	10.34	11.13	4.87	3.49	3.56	3.37	3.45
EV/EBITDA Average	5.91	4.34	5.57	6.48	6.87	10.43	9.95	60.14	58.05	63.47	32.84	20.68	17.98	15.93	12.71
EV/EBITDA High	7.11	5.6	7.68	7.62	9.2	13.79	11.93	78.03	70.72	76.64	50.43	25.56	21.94	19.71	14.38
EV/EBITDA Low	4.31	3.43	4.35	5.55	5.32	8.3	8.48	52.34	47.08	53.28	19.75	15.66	14.43	13.09	11.28
EV/EBIT Average	16.1	10.47	11.68	13.37	13.13	33.56	40.56	-838.94	-1,965.71	-1,125.05	375.96	-104.74	390.72	-95.44	-63.11
EV/EBIT High	19.38	13.51	16.09	15.74	17.58	44.4	48.62	-1,088.62	-2,394.74	-1,358.4	577.4	-129.41	476.63	-118.12	-71.42
EV/EBIT Low	11.76	8.27	9.12	11.46	10.16	26.7	34.57	-730.19	-1,594.12	-944.38	226.18	-79.32	313.59	-78.44	-55.98
Last Price	5.24	7.66	12.84	15.63	21.53	27.3	33.8	44.25	41.61	43.25	25.5	15.88	21.62	12.61	11.56
High Price	9.76	9.5	14.58	17	25.67	42.66	41.8	51.41	51.18	59.93	61.53	26.58	25.51	22.27	15.84
Enterprise Value Average	520	477	647	828	1,019	2,173	2,334	2,491	2,638	2,926	1,986	1,148	1,194	1,344	1,392
Enterprise Value High	626	616	892	975	1,365	2,875	2,798	3,232	3,214	3,533	3,050	1,419	1,457	1,663	1,576
Enterprise Value Low	380	377	505	710	789	1,729	1,989	2,168	2,139	2,456	1,195	870	959	1,105	1,235

Shares Outstanding	48	48	48	48	48	49	49	50	50	50	50	50	50	55	55
Diluted Weighted Avg Shares	47	48	48	49	49	49	50	50	50	50	50	50	51	54	55
Basic Weighted Avg Shares	47	48	48	48	48	49	49	50	50	50	50	50	50	54	55
Revenue per Share	5.32	6.01	6.44	6.78	7.08	10.97	12.45	3.89	4.15	4.42	4.9	4.96	5.34	6.11	6.49
EBITDA per Share	1.86	2.3	2.42	2.65	3.07	4.27	4.77	0.84	0.91	0.92	1.21	1.11	1.32	1.57	1.99
Operating Income per Share	0.68	0.95	1.15	1.29	1.6	1.33	1.17	-0.06	-0.03	-0.05	0.11	-0.22	0.06	-0.26	-0.4
Basic EPS, GAAP	0.27	0.34	0.62	0.7	0.84	-0.02	1.35	0.94	1.11	2.52	19.97	-0.17	0.16	3.61	-0.6
Basic EPS from Cont Ops	0.29	0.35	0.62	0.7	0.84	-0.02	1.35	0.04	0.04	0.03	0.16	-0.31	0.02	-0.53	-0.6
Diluted EPS, GAAP	0.27	0.34	0.61	0.7	0.83	-0.02	1.33	0.93	1.11	2.51	19.92	-0.17	0.16	3.61	-0.6
Diluted EPS from Cont Ops	0.29	0.35	0.61	0.7	0.83	-0.02	1.33	0.04	0.04	0.03	0.16	-0.31	0.02	-0.53	-0.6
Dividend per Share	0.15	0.15	0.17	0.22	0.23	0.24	0.25	0.26	0.28	0.33	18.8	0.08	0.09	0.11	0.12
Cash Flow per Share	1.71	2.02	1.96	2.39	2.47	3.31	4.54	5.36	5.2	6.07	-5.02	1.49	2.26	1.16	1.83
Free Cash Flow per Basic Share	0.13	0.17	-0.47	0.97	1.03	-0.24	1.56	2.6	4.87	6.07	-5.02	1.49	2.26	1.16	1.83
Cash & Equivalents per Share	0.34	1.48	0.8	1.43	1.59	0.74	1.6	1.72	2.04	3.92	1.7	0.88	2.76	0.86	0.49
Book Value per Share	4.18	4.36	4.83	5.34	5.98	5.92	6.05	7.8	8.63	10.71	11.85	11.58	11.59	14.31	13.13
Tangible Book Value per Share	2.46	2.77	3.41	3.94	4.61	-6.23	-3.61	-1.42	7.71	9.42	11.04	11.1	11.34	15.7	14.74

Shenandoah Telecommunications Company

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)