(CCOI) Cogent Communications - Ratings and Ratios
Internet, Private Network, Colocation, Off-Net, Transit
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 6.52% |
| Yield on Cost 5y | 7.11% |
| Yield CAGR 5y | -0.96% |
| Payout Consistency | 98.3% |
| Payout Ratio | - |
| Risk via 5d forecast | |
|---|---|
| Volatility | 40.4% |
| Value at Risk 5%th | 62.8% |
| Relative Tail Risk | -5.61% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -1.31 |
| Alpha | -81.86 |
| CAGR/Max DD | -0.32 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.527 |
| Beta | 0.981 |
| Beta Downside | 1.313 |
| Drawdowns 3y | |
|---|---|
| Max DD | 78.91% |
| Mean DD | 21.84% |
| Median DD | 13.38% |
Description: CCOI Cogent Communications January 13, 2026
Cogent Communications Holdings, Inc. (NASDAQ:CCOI) operates a global fiber-optic network that delivers high-speed Internet access, private IP-VPN services, and data-center colocation across North America, South America, Europe, Oceania and Africa. The firm’s business model hinges on “on-net” connectivity-directly linking customers to its own infrastructure-and “off-net” solutions that leverage third-party carriers for the last-mile segment.
The customer portfolio is heavily weighted toward bandwidth-intensive enterprises such as law firms, financial services, advertising agencies, healthcare providers, and educational institutions, as well as other ISPs, cable operators, mobile carriers, CDN providers, and content-heavy businesses. By targeting small- and medium-sized firms alongside larger communications providers, Cogent captures recurring revenue from both end-user subscriptions and wholesale transport contracts.
According to the most recent 10-K (FY 2023), Cogent generated roughly $1.4 billion in revenue with an adjusted EBITDA margin near 30 %, reflecting the cost efficiency of its fiber-only network. The company has been expanding its fiber footprint by an estimated 10 %-12 % year-over-year, a trend driven by persistent enterprise demand for higher-capacity connections and the ongoing rollout of 5G backhaul services. A key macro driver is the tightening of corporate IT budgets amid higher interest rates, which can pressure cap-ex-heavy telecoms but also incentivizes firms to outsource connectivity to carriers like Cogent.
For a deeper dive into CCOI’s valuation metrics, you might explore the analysis on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 2.0
| Net Income: -194.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.06 > 0.02 and ΔFCF/TA 2.32 > 1.0 |
| NWC/Revenue: 25.01% < 20% (prev 27.35%; Δ -2.33% < -1%) |
| CFO/TA 0.00 > 3% & CFO 9.95m > Net Income -194.7m |
| Net Debt (2.50b) to EBITDA (182.6m): 13.70 < 3 |
| Current Ratio: 2.02 > 1.5 & < 3 |
| Outstanding Shares: last quarter (47.6m) vs 12m ago 0.37% < -2% |
| Gross Margin: 36.19% > 18% (prev 0.37%; Δ 3582 % > 0.5%) |
| Asset Turnover: 30.49% > 50% (prev 32.96%; Δ -2.47% > 0%) |
| Interest Coverage Ratio: -0.62 > 6 (EBITDA TTM 182.6m / Interest Expense TTM 156.0m) |
Altman Z'' -0.62
| A: 0.08 (Total Current Assets 479.8m - Total Current Liabilities 237.5m) / Total Assets 3.15b |
| B: -0.21 (Retained Earnings -675.5m / Total Assets 3.15b) |
| C: -0.03 (EBIT TTM -96.4m / Avg Total Assets 3.18b) |
| D: -0.21 (Book Value of Equity -676.9m / Total Liabilities 3.19b) |
| Altman-Z'' Score: -0.62 = B |
Beneish M -3.10
| DSRI: 1.11 (Receivables 184.0m/181.1m, Revenue 968.3m/1.06b) |
| GMI: 1.03 (GM 36.19% / 37.39%) |
| AQI: 0.90 (AQ_t 0.20 / AQ_t-1 0.23) |
| SGI: 0.92 (Revenue 968.3m / 1.06b) |
| TATA: -0.07 (NI -194.7m - CFO 9.95m) / TA 3.15b) |
| Beneish M-Score: -3.10 (Cap -4..+1) = AA |
ValueRay F-Score (Strict, 0-100) 25.14
| 1. Piotroski: 2.0pt |
| 2. FCF Yield: -5.05% |
| 3. FCF Margin: -19.28% |
| 4. Debt/Equity: -67.61 |
| 5. Debt/Ebitda: 13.70 |
| 6. ROIC - WACC: -8.42% |
| 7. RoE: -208.7% |
| 8. Revenue Trend: 78.90% |
| 9. EPS Trend: data missing |
What is the price of CCOI shares?
Over the past week, the price has changed by +3.24%, over one month by +8.75%, over three months by -45.86% and over the past year by -65.67%.
Is CCOI a buy, sell or hold?
- StrongBuy: 5
- Buy: 2
- Hold: 3
- Sell: 1
- StrongSell: 1
What are the forecasts/targets for the CCOI price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 30.8 | 29.1% |
| Analysts Target Price | 30.8 | 29.1% |
| ValueRay Target Price | 23.8 | -0.4% |
CCOI Fundamental Data Overview January 27, 2026
P/S = 1.3168
P/B = 42.5664
P/EG = 85.8913
Revenue TTM = 968.3m USD
EBIT TTM = -96.4m USD
EBITDA TTM = 182.6m USD
Long Term Debt = 1.71b USD (from longTermDebt, last quarter)
Short Term Debt = 80.1m USD (from shortTermDebt, last quarter)
Debt = 2.65b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.50b USD (from netDebt column, last quarter)
Enterprise Value = 3.70b USD (1.19b + Debt 2.65b - CCE 147.1m)
Interest Coverage Ratio = -0.62 (Ebit TTM -96.4m / Interest Expense TTM 156.0m)
EV/FCF = -19.80x (Enterprise Value 3.70b / FCF TTM -186.7m)
FCF Yield = -5.05% (FCF TTM -186.7m / Enterprise Value 3.70b)
FCF Margin = -19.28% (FCF TTM -186.7m / Revenue TTM 968.3m)
Net Margin = -20.11% (Net Income TTM -194.7m / Revenue TTM 968.3m)
Gross Margin = 36.19% ((Revenue TTM 968.3m - Cost of Revenue TTM 617.9m) / Revenue TTM)
Gross Margin QoQ = 49.51% (prev 13.59%)
Tobins Q-Ratio = 1.17 (Enterprise Value 3.70b / Total Assets 3.15b)
Interest Expense / Debt = 1.64% (Interest Expense 43.4m / Debt 2.65b)
Taxrate = 21.0% (US default 21%)
NOPAT = -76.2m (EBIT -96.4m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 2.02 (Total Current Assets 479.8m / Total Current Liabilities 237.5m)
Debt / Equity = -67.61 (negative equity) (Debt 2.65b / totalStockholderEquity, last quarter -39.2m)
Debt / EBITDA = 13.70 (Net Debt 2.50b / EBITDA 182.6m)
Debt / FCF = -13.40 (negative FCF - burning cash) (Net Debt 2.50b / FCF TTM -186.7m)
Total Stockholder Equity = 93.3m (last 4 quarters mean from totalStockholderEquity)
RoA = -6.13% (Net Income -194.7m / Total Assets 3.15b)
RoE = -208.7% (Net Income TTM -194.7m / Total Stockholder Equity 93.3m)
RoCE = -5.34% (EBIT -96.4m / Capital Employed (Equity 93.3m + L.T.Debt 1.71b))
RoIC = -4.56% (negative operating profit) (NOPAT -76.2m / Invested Capital 1.67b)
WACC = 3.85% (E(1.19b)/V(3.84b) * Re(9.53%) + D(2.65b)/V(3.84b) * Rd(1.64%) * (1-Tc(0.21)))
Discount Rate = 9.53% (= CAPM, Blume Beta Adj.)
Fair Price DCF = unknown (Cash Flow -186.7m)
Revenue Correlation: 78.90 | Revenue CAGR: 11.68% | SUE: N/A | # QB: 0
Additional Sources for CCOI Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle