Does Shenandoah Telecommunications Company have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores Shenandoah Telecommunications Company (SHEN) 34.8 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 100, returns on capital 0, balance-sheet safety 0, capital discipline 24.

Is SHEN stock trading below its intrinsic value?

Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $1.63 per share versus a recent price of $11.38 — 600% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has SHEN's Moat Score changed over time?

The record logs 2 readings since Jul 17, 2026; the latest reads 34.8 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

Shenandoah Telecommunications Company

SHEN · Communications · $624.8M mkt cap · FY2025 filings · No moat ·

Doesn't clear the bar

No moat

The four filters

Pricing power100

Median gross margin 64.6% over 2y, very stable.

Returns on capital0

Median ROIC -0.3%, above the 9% hurdle in 0% of years.

Balance-sheet safety0

Net debt/EBITDA 5.6x, interest coverage -1x.

Capital discipline24

Owner earnings trend unclear, share count growing (dilution).

Margin of safety

Above valueOn sale

600% above value

Owner earnings (normalized): $8.0M
Est. intrinsic value / share: $1.63
Recent price: $11.38
Discount to value: 600% above value

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Fundamentals

There's no normalized fundamentals series for SHEN yet — it appears once ingest has processed its filings.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale34.8 / 100

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — SHEN has read No moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Communications context

#35 of 56 scored Communications companies, ranked by Moat Score.

Nearest peers by Moat Score

#33LILA Liberty Latin America Ltd.35.5 out of 100, No moatNo moat
#34FUBO FuboTV Inc.35.3 out of 100, No moatNo moat
#36VSAT VIASAT, INC.34.8 out of 100, No moatNo moat
#37LUMN Lumen Technologies, Inc.33.3 out of 100, No moatNo moat

Compare SHEN with its nearest peers →All Communications companies on the Index →

Common questions about SHEN

Does Shenandoah Telecommunications Company have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores Shenandoah Telecommunications Company (SHEN) 34.8 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 100, returns on capital 0, balance-sheet safety 0, capital discipline 24.
Is SHEN stock trading below its intrinsic value?: Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $1.63 per share versus a recent price of $11.38 — 600% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has SHEN's Moat Score changed over time?: The record logs 2 readings since Jul 17, 2026; the latest reads 34.8 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell SHEN. See the disclaimer.