2022 Rural Telecommunications Benchmark Study by FORVIS
What Is Your Company’s Broadband Rating?
FORVIS’ 2022 Rural Telecommunications Benchmark Study (Study) is complete and, when combined with previous studies and the Telergee Telecommunications Benchmark Studies, has 21 years of valuable financial and operational information for the rural telecommunications industry.
The Study answers two main questions:
- How is the telecommunications industry performing financially?
- How is my company’s financial and operational performance compared to my peers?
In 2022, 168 rural telecommunications companies in 18 states participated in the Study. It provided 2021 benchmark results for the balance sheet and income statement and more than 35 other key metrics.
Every year the Study provides an in-depth look at how the rural telecommunications industry has performed. This year we take a deeper dive into the impact of broadband services and broadband grant programs. Download the full report now for an in-depth look at how the rural telecommunications industry performed in 2021.
Broadband Grant Programs
Sixty-nine participating companies accepted over $336 million in federal, state, and local government broadband grants. These grant programs include state-administered broadband grant programs utilizing state funds and state apportioned federal CARES Act and ARPA funds along with federal broadband grant programs administered by the National Telecommunications and Information Administration and Rural Utilities Service.
Through 2022, the average broadband grant award was $2.5 million with 11 companies reporting total grants of over $10 million each.
New this year, the Study generated a broadband rating for each company participant, which included the following three financial metrics:
- Operating income as a percentage of network access revenues
- Broadband internet revenue growth
- Operating income growth
The higher the broadband rating the better. The goal of the rating is to focus on growth but also include a factor for less dependency on network access revenues.
Download the full report now for an in-depth look at how the rural telecommunications industry performed in 2021.
If you want to participate or learn more about the Study and how it can benefit your company, reach out to a professional at FORVIS or use the Contact Us form below.