CCOINasdaqCommunications Services, NECFiscal year ends December 31
COGENT COMMUNICATIONS HOLDINGS, INC.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$7.76−0.31 (-3.84%)
Close on Oct 19, 2026
- Market cap
- $375.81M
- P/E (TTM)
- –
- Dividend yield
- 39.30%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
45.2%−16.2 pts over 5 years
Operating margin
-10.4%−29.2 pts over 5 years
Net margin
-18.7%
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -5.8% | +17.6% | +11.4% | +9.2% | |
| Gross profit | +11.8% | +5.9% | +4.8% | +6.7% | |
| Dividend per share | -22.2% | -5.0% | +1.9% | +7.6% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | -229.1% | |
| Return on assets | – | – | -5.8% | |
| Current ratio | 4.82 | 4.83 | 2.04 | |
| Interest coverage | 1.6× | 1.7× | – | |
| Capex to revenue | 10.1% | 9.8% | 19.2% | |
| Diluted shares | 45M | 47M | 48M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Cogent Communications generated $380.53M from operations and spent $1.53B on capital expenditure, dividends and share buybacks. 43% of that went back into the business.
Generated
$380.53M
Used
$1.53B
Capital expenditure$661.09M43%Dividends$841.33M55%Share buybacks$24.65M2%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-18.7%
×Asset turnover0.31×
×Equity multiplier39.45×
=Return on equity, FY2025-229.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -18.7% | 0.31× | 39.45× | -229.1% |
| FY2024 | -19.7% | 0.32× | 7.67× | -49.0% |
| FY2023 | 135.3% | 0.45× | 46.43× | 2801.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$182.17M
- Cash generatingOperating cash flow above zero-$10.58M
- Return on assets improvedROA up on the prior year-6.4% → -5.7%
- Earnings backed by cashOperating cash flow above net income-$10.58M vs -$182.17M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.90 → 2.04
- No dilutionShare count did not rise48M → 48M
- Gross margin improvedGross margin up on the prior year38.05% → 45.18%
- More efficientAsset turnover rose0.32 → 0.31