CCOI Stock Analysis: Cogent Communications | NASDAQ

Telecom Services | NASDAQ, USA | Market Cap: 610m USD | 12M Return: -75.6% | Charts, Fundamentals & Technical Analysis

Internet Access, Private Networks, Data Center Colocation, On-Net Connectivity

Total Rating 11

Safety 40

Buy Signal -0.97

Telecom Services
Industry Rotation: -7.2

Market Cap: 610M
Avg Turnover: 19.6M

Risk 3d forecast

Volatility89.7%

VaR 5^th Pctl15.2%

VaR vs Median3.21%

Reward TTM

Sharpe Ratio-1.16

Rel. Str. IBD0.2

Rel. Str. Peer Group5.6

Character TTM

Beta0.793

Beta Downside1.255

Hurst Exponent0.593

Drawdowns 3y

Max DD85.22%

CAGR/Max DD-0.48

CAGR/Mean DD-1.32

EPS (Earnings per Share)

Last SUE: 0.72
Qual. Beats: 0

Revenue

Rev. CAGR: 7.24%
Rev. Trend: 48.8%

Last SUE: -0.32
Qual. Beats: 0

Warnings

Negative Equity With Losses: Insolvent Profile

High Debt/EBITDA With Thin Interest Coverage

High Debt While Negative Cash Flow

Interest Coverage Ratio Critical

Altman Z'' In Financial Distress Zone

Below Avwap Earnings

Below Sma 200d

Tailwinds

No distinct edge detected

Seasonality 10.5 years of data

Jan -0.4% 0

Feb -2.1% 40

Mar +3.1% 25

Apr +0.7% 0

May -8.3% 33

Jun -0.3% 11

Jul +1.9% 6

Aug -3.9% 9

Sep -1.3% 19

Oct +4.7% 47

Nov -0.1% 8

Dec -1.8% 20

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.

Description: CCOI Cogent Communications

Cogent Communications Holdings, Inc. (NASDAQ: CCOI) is a Washington, D.C.-based alternative carrier that provides high-speed Internet access, private network connectivity, and data center colocation services across North America, South America, Europe, Oceania, and Africa. Founded in 1999 and publicly traded since 2002, the company operates as an alternative carrier under the GICS classification, meaning it competes with incumbent telecom providers by offering primarily IP-based transit and transport services, often at lower price points than larger legacy carriers.

The companys core business model is built around its on-net footprint-buildings physically connected to Cogents owned fiber infrastructure-where it can deliver services at lower marginal cost. It supplements this with off-net services that lease last-mile circuits from other carriers to reach customers outside its direct footprint, as well as data center colocation facilities that allow customers to house equipment directly on Cogents network.

Cogent serves a diverse customer base that includes law firms, financial services firms, healthcare providers, educational institutions, advertising and marketing firms, and-significantly-other communications service providers such as ISPs, telephone companies, cable operators, web hosting firms, mobile carriers, and content delivery networks. This wholesale and SMB-heavy customer mix is characteristic of alternative carriers, which typically focus on serving bandwidth-intensive organizations rather than consumer retail customers.

Headlines to Watch Out For

Sprint wireline acquisition integration pressures service margins
Data center colocation segment drives organic revenue growth
Transit pricing decline offsets enterprise on-net customer additions

Piotroski VR-10 (Strict) 0.5

Net Income: -169.7m TTM > 0 and > 6% of Revenue
FCF/TA: -0.07 > 0.02 and ΔFCF/TA -0.27 > 1.0
NWC/Revenue: 21.52% < 20% (prev 13.69%; Δ 7.83% < -1%)
CFO/TA -0.01 > 3% & CFO -32.1m > Net Income -169.7m
Net Debt (3.47b) to EBITDA (193.9m): 17.88 < 3
Current Ratio: 1.90 > 1.5 & < 3
Outstanding Shares: last quarter (47.8m) vs 12m ago 0.20% < -2%
Gross Margin: 32.41% > 18% (prev 39.99%; Δ -7.58% > 0.5%)
Asset Turnover: 30.72% > 50% (prev 32.59%; Δ -1.87% > 0%)
Interest Coverage Ratio: -0.32 > 6 (EBIT TTM -54.3m / Interest Expense TTM 171.4m)

Altman Z'' -0.51

A: 0.07 (Total Current Assets 430.3m - Total Current Liabilities 226.1m) / Total Assets 3.06b
B: -0.25 (Retained Earnings -749.4m / Total Assets 3.06b)
C: -0.02 (EBIT TTM -54.3m / Avg Total Assets 3.09b)
D: -0.03 (Book Value of Equity -104.2m / Total Liabilities 3.16b)
Altman-Z'' = -0.51 = B

Beneish M -4.00

DSRI: 1.13 (Receivables 182.4m/172.6m, Revenue 948.7m/1.02b)
GMI: 1.23 (GM 39.99% / 32.41%)
AQI: -2.06 (AQ_t -0.45 / AQ_t-1 0.22)
SGI: 0.93 (Revenue 948.7m / 1.02b)
TATA: -0.05 (NI -169.7m - CFO -32.1m) / TA 3.06b)
Beneish M = -4.57 (Cap -4..+1) = AAA

What is the price of CCOI shares?

As of July 08, 2026, the stock is trading at USD 11.66 with a total of 1,341,012 shares traded. Over the past week, the price has changed by -11.30%, over one month by -30.54%, over three months by -42.12% and over the past year by -75.59%.

Current recommended Stop Loss: 9.80 (which is 16% or 1.4 ATR below the current price).

Is CCOI a buy, sell or hold?

Cogent Communications has received a consensus analysts rating of 3.75. Therefore, it is recommended to hold CCOI.

StrongBuy: 5
Buy: 2
Hold: 3
Sell: 1
StrongSell: 1

What are the forecasts/targets for the CCOI price?

Analysts Target Price	21.3	82.4%

Cogent Communications (CCOI) - Fundamental Data Overview as of 08 July 2026

Market Cap USD = 610.2m (610.2m USD * 1.0 USD.USD)
P/E Forward = 151.5152
P/S = 0.6861
P/B = 40.2795
P/EG = 2.2248
Revenue TTM = 948.7m USD
EBIT TTM = -54.3m USD
EBITDA TTM = 193.9m USD
Long Term Debt = 1.72b USD (from longTermDebt, last quarter)
Short Term Debt = 77.6m USD (from shortTermDebt, last quarter)
Debt = 3.61b USD (from shortLongTermDebtTotal, last quarter) + Leases 946.3m
Net Debt = 3.47b USD (calculated: Debt 3.61b - CCE 140.3m)
Enterprise Value = 4.08b USD (610.2m + Debt 3.61b - CCE 140.3m)
Interest Coverage Ratio = -0.32 (Ebit TTM -54.3m / Interest Expense TTM 171.4m)
EV/FCF = -19.62x (Enterprise Value 4.08b / FCF TTM -207.8m)
FCF Yield = -5.10% (FCF TTM -207.8m / Enterprise Value 4.08b)
FCF Margin = -21.91% (FCF TTM -207.8m / Revenue TTM 948.7m)
Net Margin = -17.88% (Net Income TTM -169.7m / Revenue TTM 948.7m)
Gross Margin = 32.41% ((Revenue TTM 948.7m - Cost of Revenue TTM 641.3m) / Revenue TTM)
Gross Margin QoQ = 45.97% (prev 22.34%)
Tobins Q-Ratio = 1.33 (Enterprise Value 4.08b / Total Assets 3.06b)
Interest Expense / Debt = 4.75% (Interest Expense 171.4m / Debt 3.61b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -42.9m (EBIT -54.3m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.90 (Total Current Assets 430.3m / Total Current Liabilities 226.1m)
Debt / Equity = -34.64 (negative equity) (Debt 3.61b / totalStockholderEquity, last quarter -104.2m)
Debt / EBITDA = 17.88 (Net Debt 3.47b / EBITDA 193.9m)
Debt / FCF = -16.69 (negative FCF - burning cash) (Net Debt 3.47b / FCF TTM -207.8m)
Total Stockholder Equity = -40.1m (last 4 quarters mean from totalStockholderEquity)
RoA = -5.49% (Net Income -169.7m / Total Assets 3.06b)
RoE = 422.8% (negative equity) (Net Income TTM -169.7m / Total Stockholder Equity -40.1m)
RoCE = -3.24% (EBIT -54.3m / Capital Employed (Equity -40.1m + L.T.Debt 1.72b))
RoIC = -1.50% (negative operating profit) (NOPAT -42.9m / Invested Capital 2.86b)
WACC = 4.48% (E(610.2m)/V(4.22b) * Re(8.77%) + D(3.61b)/V(4.22b) * Rd(4.75%) * (1-Tc(0.21)))
Discount Rate = 8.77% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 46.67 | Cagr: -0.24%
[DCF] Fair Price = unknown (Cash Flow -207.8m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.72 | # QB: 0
Revenue Correlation: 48.75 | Revenue CAGR: 7.24% | SUE: -0.32 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.93 | Chg30d=-7.13% | Revisions=+0% | Analysts=3
EPS next Quarter (2026-09-30): EPS=-0.91 | Chg30d=-17.75% | Revisions=-25% | Analysts=3
EPS current Year (2026-12-31): EPS=-3.92 | Chg30d=-0.71% | Revisions=+0% | GrowthEPS=-74.2% | GrowthRev=-1.2%
EPS next Year (2027-12-31): EPS=-2.95 | Chg30d=-0.08% | Revisions=-25% | GrowthEPS=+24.6% | GrowthRev=+4.6%
[Analyst] Revisions Ratio: -22% (up=2, down=4)