CCOI Stock Analysis: Cogent Communications | NASDAQ
Telecom Services | NASDAQ, USA | Market Cap: 437m USD | 12M Return: -82.4% | US19239V3024 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 17.3M
Qual. Beats: 0
Rev. Trend: 19.1%
Qual. Beats: -4
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Cogent Communications Holdings, Inc. (NASDAQ: CCOI) is a global Internet service provider headquartered in Washington, D.C., founded in 1999. The company delivers high-speed Internet access, private network services, and data center colocation across North America, South America, Europe, Oceania, and Africa. Its customer base spans a wide range of organizations, including law firms, financial institutions, healthcare providers, educational institutions, ISPs, telephone companies, cable operators, web hosting firms, mobile carriers, and content delivery networks.
Cogents service model is built around a distinction between on-net customers located in buildings directly connected to its owned fiber backbone and off-net customers reached via third-party carriers for the last-mile connection. The company also operates data centers that allow customers to colocate equipment and directly access Cogents network, a structure common among alternative carriers that focus on serving bandwidth-intensive and wholesale clients rather than residential consumers.
Cogent primarily targets small and medium-sized businesses, communications service providers, and other organizations with heavy data transport needs, positioning itself within the alternative carriers sub-industry of the communication services sector.
- Sprint wireline integration drives fiber footprint and margin expansion
- Data center colocation growth offsets legacy off-net revenue decline
- Acquisition debt pressures capital returns amid rising interest costs
| Net Income: -45.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.05 > 0.02 and ΔFCF/TA 2.52 > 1.0 |
| NWC/Revenue: -36.92% < 20% (prev 31.68%; Δ -68.60% < -1%) |
| CFO/TA 0.00 > 3% & CFO 15.1m > Net Income -45.2m |
| Net Debt (3.39b) to EBITDA (380.2m): 8.92 < 3 |
| Current Ratio: 0.63 > 1.5 & < 3 |
| Outstanding Shares: last quarter (48.3m) vs 12m ago 1.56% < -2% |
| Gross Margin: 28.68% > 18% (prev 33.49%; Δ -4.81% > 0.5%) |
| Asset Turnover: 30.03% > 50% (prev 30.66%; Δ -0.63% > 0%) |
| Interest Coverage Ratio: 0.46 > 6 (EBIT TTM 100.2m / Interest Expense TTM 219.3m) |
| A: -0.11 (Total Current Assets 606.1m - Total Current Liabilities 959.6m) / Total Assets 3.10b |
| B: -0.22 (Retained Earnings -685.1m / Total Assets 3.10b) |
| C: 0.03 (EBIT TTM 100.2m / Avg Total Assets 3.19b) |
| D: -0.01 (Book Value of Equity -34.1m / Total Liabilities 3.14b) |
| Altman-Z'' = -1.27 = CCC |
| DSRI: 0.50 (Receivables 85.8m/181.5m, Revenue 957.2m/1.00b) |
| GMI: 1.17 (GM 33.49% / 28.68%) |
| AQI: 1.38 (AQ_t 0.28 / AQ_t-1 0.20) |
| SGI: 0.95 (Revenue 957.2m / 1.00b) |
| TATA: -0.02 (NI -45.2m - CFO 15.1m) / TA 3.10b) |
| Beneish M = -3.10 (Cap -4..+1) = AA |
As of October 15, 2026, the stock is trading at USD 7.72 with a total of 2,003,283 shares traded. Over the past week, the price has changed by -22.33%, over one month by -17.17%, over three months by -36.85% and over the past year by -82.37%.
Current recommended Stop Loss: 6.60 (which is 14.5% or 1.5 ATR below the current price).
Cogent Communications has received a consensus analysts rating of 3.50. Therefore, it is recommended to hold CCOI.
- StrongBuy: 4
- Buy: 0
- Hold: 6
- Sell: 2
- StrongSell: 0
| Analysts Target Price | 15.3 | 97.8% |
P/E Forward = 5000.0
P/S = 0.4971
P/B = 42.5664
P/EG = 85.8913
Revenue TTM = 957.2m USD
EBIT TTM = 100.2m USD
EBITDA TTM = 380.2m USD
Long Term Debt = 949.9m USD (from longTermDebt, last quarter)
Short Term Debt = 820.5m USD (from shortTermDebt, last quarter)
Debt = 3.58b USD (from shortLongTermDebtTotal, last quarter) + Leases 939.7m
Net Debt = 3.39b USD (calculated: Debt 3.58b - CCE 183.7m)
Enterprise Value = 3.83b USD (437.4m + Debt 3.58b - CCE 183.7m)
Interest Coverage Ratio = 0.46 (Ebit TTM 100.2m / Interest Expense TTM 219.3m)
EV/FCF = -26.79x (Enterprise Value 3.83b / FCF TTM -142.9m)
FCF Yield = -3.73% (FCF TTM -142.9m / Enterprise Value 3.83b)
FCF Margin = -14.93% (FCF TTM -142.9m / Revenue TTM 957.2m)
Net Margin = -4.73% (Net Income TTM -45.2m / Revenue TTM 957.2m)
Gross Margin = 28.68% ((Revenue TTM 957.2m - Cost of Revenue TTM 682.7m) / Revenue TTM)
Gross Margin QoQ = -7.93% (prev 45.97%)
Tobins Q-Ratio = 1.23 (Enterprise Value 3.83b / Total Assets 3.10b)
Interest Expense / Debt = 6.13% (Interest Expense 219.3m / Debt 3.58b)
Taxrate = 15.71% (5.05m / 32.1m)
NOPAT = 84.5m (EBIT 100.2m * (1 - 15.71%))
Current Ratio = 0.63 (Total Current Assets 606.1m / Total Current Liabilities 959.6m)
Debt / Equity = -104.8 (out of range, set to none) (Debt 3.58b / totalStockholderEquity, last quarter -34.1m)
Debt / EBITDA = 8.92 (Net Debt 3.39b / EBITDA 380.2m)
Debt / FCF = -23.73 (negative FCF - burning cash) (Net Debt 3.39b / FCF TTM -142.9m)
Total Stockholder Equity = -60.3m (last 4 quarters mean from totalStockholderEquity)
RoA = -1.42% (Net Income -45.2m / Total Assets 3.10b)
RoE = 74.98% (negative equity) (Net Income TTM -45.2m / Total Stockholder Equity -60.3m)
RoCE = 11.27% (EBIT 100.2m / Capital Employed (Equity -60.3m + L.T.Debt 949.9m))
RoIC = 2.90% (NOPAT 84.5m / Invested Capital 2.92b)
WACC = 5.60% (E(437.4m)/V(4.01b) * Re(9.12%) + D(3.58b)/V(4.01b) * Rd(6.13%) * (1-Tc(0.16)))
Discount Rate = 9.12% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 81.11 | Cagr: 0.86%
[DCF] Fair Price = unknown (Cash Flow -142.9m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.47 | # QB: 0
Revenue Correlation: 19.14 | Revenue CAGR: 1.61% | SUE: -2.25 | # QB: -4
EPS current Quarter (2026-09-30): EPS=-0.85 | Chg30d=+5.70% | Revisions=-25% | Analysts=2
EPS current Year (2026-12-31): EPS=-2.52 | Chg30d=+0.00% | Revisions=+0% | GrowthEPS=-11.8% | GrowthRev=-3.2%
EPS next Year (2027-12-31): EPS=-2.58 | Chg30d=+0.00% | Revisions=-25% | GrowthEPS=-2.7% | GrowthRev=+1.4%
[Analyst] Revisions Ratio: -29% (up=1, down=3)