Cogent Communications
CCOI Nasdaq· Alternative Carriers
Last close · Oct 23, 2026
$7.48
KIRA · Stoqly’s AI analyst, in plain words
- Cogent Communications had $976M of revenue in fiscal 2025, down 5.8% on the year before. Over five years, revenue changed +11.4% a year on average.
- Its operating margin was −10.4%, up 8.7 pts: of every 100 in sales, about −10 is left after running the business.
- Cogent Communications lost $182M in fiscal 2025.
- Free cash flow was −$198M in fiscal 2025, −20.3% of revenue.
- Cogent Communications returned $167M to shareholders in fiscal 2025. The diluted share count rose 0.6%.
- Cogent Communications owes $2.2B more than it holds in cash, about 13.0 years of operating profit.
Market cap
$362M
P/E
—
Revenue
$976M
Net income
−$182M
Free cash flow
−$198M
Operating margin
−10.4%
Cogent Communications in 30 seconds · fiscal 2025
Are sales growing?
−5.8%
No. Sales fell 5.8% last year.
Does it make a profit?
−18.7%
No. It lost money last year.
Does profit turn into cash?
−20.3%
No. It spent more cash than it brought in.
Is debt under control?
13.0x
Heavy. Repaying its debt would take 13.0 years of operating profit.
How healthy are the accounts?
4 / 9
Mixed. It passes 4 of 9 health tests.
What Cogent Communications does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 20, 2026
- Legal name
- COGENT COMMUNICATIONS HOLDINGS, INC.
- CIK
- 0001158324
Cogent Communications · CCOI
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $590M | $600M | $941M | $1.0B | $976M |
| Revenue growth | 3.8% | 1.7% | 56.9% | 10.1% | −5.8% |
| Gross margin | 61.6% | 62.0% | 42.2% | 38.1% | 45.2% |
| Operating margin | 20.2% | 19.0% | −13.7% | −19.1% | −10.4% |
| Net income | $48.2M | $5.1M | $1.3B | −$204M | −$182M |
| Net margin | 8.2% | 0.9% | 135.3% | −19.7% | −18.7% |
| Diluted EPS | $1.03 | $0.11 | $26.62 | −$4.28 | −$3.80 |
| Cash | |||||
| Cash from operations | $170M | $174M | $17.3M | −$8.6M | −$10.6M |
| Capital expenditure | $69.9M | $79.0M | $130M | $195M | $188M |
| Free cash flow | $100M | $94.7M | −$112M | −$204M | −$198M |
| FCF margin | 17.0% | 15.8% | −11.9% | −19.7% | −20.3% |
| Dividends paid | $150M | $170M | $182M | $189M | $150M |
| Share buybacks | $0.0M | $0.0M | $0.0M | $8.0M | $16.7M |
| Share count change | 0.6% | 0.5% | 1.3% | −0.4% | 0.6% |
| Debt and strength | |||||
| Cash and short-term investments | $320M | $224M | $75.1M | $199M | $149M |
| Debt incl. finance leases | $1.1B | $1.3B | $1.4B | $2.0B | $2.4B |
| Shareholders' equity | −$373M | −$519M | $610M | $223M | −$63.8M |
| Net debt / EBITDA | 4.0x | 5.0x | 13.2x | 17.9x | 13.0x |
| Current ratio | 5.1x | 3.0x | 1.4x | 1.9x | 2.0x |
| Interest coverage | 2.1x | 1.0x | −1.4x | −1.6x | −0.7x |
| Returns and quality | |||||
| Return on capital | 18.1% | 11.8% | −10.4% | −7.8% | −3.8% |
| Return on equity | — | — | — | −49.0% | — |
| Piotroski F-score | 7 | 5 | 5 | 3 | 4 |
| Altman Z'' | −0.3 | −1.5 | 0.3 | −0.3 | −0.5 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$1.0M
4 insiders
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cogent Communications · CCOI
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| Cogent Communications CCOI | $362M | −5.8% | −10.4% | −20.3% | −3.8% | — | 4 |
| Iridium Communications IRDM | $4.8B | 4.9% | 27.1% | 34.4% | 8.7% | 29.4x | 7 |
| Uniti Group UNIT | $1.2B | 91.5% | 11.7% | −19.6% | 4.0% | — | — |
| Lumen Technologies LUMN | $4.4B | −5.4% | −6.6% | 3.0% | −3.9% | — | 4 |
| CarGurus CARG | $2.9B | 13.7% | 27.0% | 31.9% | 90.3% | 17.1x | 7 |
KIRA
At $7.48 a share, the company is worth $362M.
Cogent Communications grew sales faster than 0 of its 4 similar companies.
Source: SEC EDGAR XBRL filings (CIK 0001158324). Data updated October 19, 2026. For information only — not investment advice. Check the original filings before relying on any figure.