Shenandoah Telecommunications Co (SHEN)

Return on equity (ROE)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Net income (ttm)	US$ in thousands	8,038	3,626	-695	-5,710	-8,379	-5,155	890,394	946,810	998,830	1,046,643	188,316	164,016	125,673	91,002	70,862	55,120	55,956	56,265	57,445	53,922
Total stockholders’ equity	US$ in thousands	652,670	654,363	649,425	642,780	638,007	642,511	643,370	644,329	642,275	642,852	682,110	628,507	577,051	548,182	511,457	480,650	468,135	477,839	464,034	454,599
ROE		1.23%	0.55%	-0.11%	-0.89%	-1.31%	-0.80%	138.40%	146.95%	155.51%	162.81%	27.61%	26.10%	21.78%	16.60%	13.85%	11.47%	11.95%	11.77%	12.38%	11.86%

December 31, 2023 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $8,038K ÷ $652,670K
= 1.23%

Shenandoah Telecommunications Co.'s return on equity (ROE) has exhibited fluctuating trends over the past eight quarters. In the most recent quarter, Q4 2023, the company reported an ROE of 1.23%, showing a slight improvement compared to the previous quarter. However, it is worth noting that the ROE had been negative for several quarters prior to that.

The ROE in Q3 and Q2 of 2023 stood at 0.55% and -0.11%, respectively, while in Q1 2023, it dropped to -0.89%. This negative trend was consistent with the ROE performance in Q4 2022, where the company recorded an ROE of -1.31%, indicating potential profitability challenges or inefficiencies in generating returns for shareholders.

On the other hand, in the two quarters preceding that, Q2 and Q1 of 2022, Shenandoah Telecommunications Co. exhibited exceptionally high ROE levels, standing at 138.34% and 146.93%, respectively. These exceptional figures suggest that the company had been able to deliver substantial returns to shareholders during that period.

Overall, the significant variance in ROE across the quarters indicates volatility in the company's profitability and efficiency in utilizing shareholder equity to generate earnings. Further analysis and examination of the company's financial performance and operational strategies would be necessary to understand the factors driving these fluctuations in ROE.