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Stocks · Communication · Communications Services, NEC

COGENT COMMUNICATIONS HOLDINGS, INC.

CCOI Clue Score33
United States Fiscal year ends December CIK 0001158324
$8.54 -10.67% Close, 9 Oct 2026
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Price $8.54 −88.16% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue446.9Operating income64.0Net income14.9EPS, diluted0.33Fiscal year 2017Revenue485.2 +8.6%Operating income75.9Net income5.9 −60.6%EPS, diluted0.13 −60.6%Fiscal year 2018Revenue520.2 +7.2%Operating income86.6Net income28.7 +387.9%EPS, diluted0.63 +384.6%Fiscal year 2019Revenue546.2 +5.0%Operating income100.3Net income37.5 +30.9%EPS, diluted0.81 +28.6%Fiscal year 2020Revenue568.1 +4.0%Operating income106.9Net income6.2 −83.4%EPS, diluted0.13 −84.0%Fiscal year 2021Revenue589.8 +3.8%Operating income119.2Net income48.2 +675.2%EPS, diluted1.03 +692.3%Fiscal year 2022Revenue599.6 +1.7%Operating income114.0Net income5.1 −89.3%EPS, diluted0.11 −89.3%Fiscal year 2023Revenue940.9 +56.9%Operating income−129.3Net income1,273.4 +24,646.2%EPS, diluted26.62 +24,100.0%Fiscal year 2024Revenue1,036.1 +10.1%Operating income−197.6Net income−204.1 −116.0%EPS, diluted−4.28 −116.1%Fiscal year 2025Revenue975.8 −5.8%Operating income−101.1Net income−182.2EPS, diluted−3.80
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 446.9 485.2 520.2 546.2 568.1 589.8 599.6 940.9 1,036.1 975.8
Growth +8.6% +7.2% +5.0% +4.0% +3.8% +1.7% +56.9% +10.1% −5.8%
Operating income 64.0 75.9 86.6 100.3 106.9 119.2 114.0 −129.3 −197.6 −101.1
Net income 14.9 5.9 28.7 37.5 6.2 48.2 5.1 1,273.4 −204.1 −182.2
Growth −60.6% +387.9% +30.9% −83.4% +675.2% −89.3% +24,646.2% −116.0%
EPS, diluted 0.33 0.13 0.63 0.81 0.13 1.03 0.11 26.62 −4.28 −3.80
Growth −60.6% +384.6% +28.6% −84.0% +692.3% −89.3% +24,100.0% −116.1%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin14.3%Net margin3.3%Free cash flow margin14.0%Fiscal year 2017Operating margin15.6%Net margin1.2%Free cash flow margin13.6%Fiscal year 2018Operating margin16.6%Net margin5.5%Free cash flow margin16.1%Fiscal year 2019Operating margin18.4%Net margin6.9%Free cash flow margin18.6%Fiscal year 2020Operating margin18.8%Net margin1.1%Free cash flow margin14.9%Fiscal year 2021Operating margin20.2%Net margin8.2%Free cash flow margin17.0%Fiscal year 2022Operating margin19.0%Net margin0.9%Free cash flow margin15.8%Fiscal year 2023Operating margin−13.7%Net margin135.3%Free cash flow margin−11.9%Fiscal year 2024Operating margin−19.1%Net margin−19.7%Free cash flow margin−19.7%Fiscal year 2025Operating margin−10.4%Net margin−18.7%Free cash flow margin−20.3%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 14.3% 15.6% 16.6% 18.4% 18.8% 20.2% 19.0% −13.7% −19.1% −10.4%
Net margin 3.3% 1.2% 5.5% 6.9% 1.1% 8.2% 0.9% 135.3% −19.7% −18.7%
Free cash flow margin 14.0% 13.6% 16.1% 18.6% 14.9% 17.0% 15.8% −11.9% −19.7% −20.3%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow108.0Capital expenditure−45.2Free cash flow62.7Buybacks−4.5Dividends paid−68.2Fiscal year 2017Operating cash flow111.7Capital expenditure−45.8Free cash flow65.9 +5.0%Buybacks−1.8Dividends paid−81.7Fiscal year 2018Operating cash flow133.9Capital expenditure−49.9Free cash flow84.0 +27.4%Buybacks−6.6Dividends paid−97.9Fiscal year 2019Operating cash flow148.8Capital expenditure−47.0Free cash flow101.9 +21.3%Dividends paid−112.6Fiscal year 2020Operating cash flow140.3Capital expenditure−56.0Free cash flow84.4 −17.2%Buybacks−4.5Dividends paid−129.4Fiscal year 2021Operating cash flow170.3Capital expenditure−69.9Free cash flow100.3 +18.9%Dividends paid−150.3Fiscal year 2022Operating cash flow173.7Capital expenditure−79.0Free cash flow94.7 −5.6%Dividends paid−169.9Fiscal year 2023Operating cash flow17.3Capital expenditure−129.6Free cash flow−112.3 −218.5%Dividends paid−181.7Fiscal year 2024Operating cash flow−8.6Capital expenditure−195.0Free cash flow−203.6Buybacks−8.0Dividends paid−189.4Fiscal year 2025Operating cash flow−10.6Capital expenditure−187.6Free cash flow−198.1Buybacks−16.7Dividends paid−150.1
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 108.0 111.7 133.9 148.8 140.3 170.3 173.7 17.3 −8.6 −10.6
Capital expenditure −45.2 −45.8 −49.9 −47.0 −56.0 −69.9 −79.0 −129.6 −195.0 −187.6
Free cash flow 62.7 65.9 84.0 101.9 84.4 100.3 94.7 −112.3 −203.6 −198.1
Growth +5.0% +27.4% +21.3% −17.2% +18.9% −5.6% −218.5%
Buybacks −4.5 −1.8 −6.6 n/a −4.5 n/a n/a n/a −8.0 −16.7
Dividends paid −68.2 −81.7 −97.9 −112.6 −129.4 −150.3 −169.9 −181.7 −189.4 −150.1

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash274.3Total debt569.7Net cash (debt)−295.4Shareholders’ equity−53.3Fiscal year 2017Cash247.0Total debt575.0Net cash (debt)−328.0Shareholders’ equity−102.5Fiscal year 2018Cash276.1Total debt645.5Net cash (debt)−369.4Shareholders’ equity−149.0Fiscal year 2019Cash399.4Total debt798.1Net cash (debt)−398.7Shareholders’ equity−203.7Fiscal year 2020Cash371.3Total debt882.0Net cash (debt)−510.7Shareholders’ equity−293.2Fiscal year 2021Cash319.6Total debt897.8Net cash (debt)−578.2Shareholders’ equity−373.1Fiscal year 2022Cash223.8Total debt950.0Net cash (debt)−726.2Shareholders’ equity−518.6Fiscal year 2023Cash75.1Total debt950.0Net cash (debt)−874.9Shareholders’ equity609.6Debt to equity1.56Fiscal year 2024Cash198.5Total debt1,456.0Net cash (debt)−1,257.5Shareholders’ equity222.8Debt to equity6.53Fiscal year 2025Cash148.5Total debt1,730.4Net cash (debt)−1,581.9Shareholders’ equity−63.8
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 274.3 247.0 276.1 399.4 371.3 319.6 223.8 75.1 198.5 148.5
Total debt 569.7 575.0 645.5 798.1 882.0 897.8 950.0 950.0 1,456.0 1,730.4
Net cash (debt) −295.4 −328.0 −369.4 −398.7 −510.7 −578.2 −726.2 −874.9 −1,257.5 −1,581.9
Shareholders’ equity −53.3 −102.5 −149.0 −203.7 −293.2 −373.1 −518.6 609.6 222.8 −63.8
Debt to equity n/a n/a n/a n/a n/a n/a n/a 1.56 6.53 n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
14.3% 15.6% 16.6% 18.4% 18.8% 20.2% 19.0% −13.7% −19.1% −10.4%
5.4% 6.4% 8.0% 9.6% 1.8% 12.1% 4.4% 129.6% −25.1% −25.1%
3.3% 1.2% 5.5% 6.9% 1.1% 8.2% 0.9% 135.3% −19.7% −18.7%
14.0% 13.6% 16.1% 18.6% 14.9% 17.0% 15.8% −11.9% −19.7% −20.3%
Spending
27.0% 26.4% 25.7% 26.9% 27.9% 27.5% 27.2% 29.3% 26.6% 28.1%
10.1% 9.4% 9.6% 8.6% 9.8% 11.9% 13.2% 13.8% 18.8% 19.2%
38.5% 81.1% 30.7% 28.8% 39.7% 32.5% 80.5% −4.4% n/a n/a
Returns
n/a n/a n/a n/a n/a n/a n/a 208.9% −91.6% n/a
2.0% 0.8% 3.9% 4.0% 0.6% 4.9% 0.5% 39.7% −6.4% −5.9%
Balance and payout
n/a n/a n/a n/a n/a n/a n/a 1.56 6.53 n/a
107.2% 114.4% 120.1% 121.9% 129.3% 137.9% 151.3% 81.0% 93.0% 102.1%
456.9% 1,389.7% 341.5% 300.2% 2,081.9% 311.9% 3,300.8% 14.3% n/a n/a
115.9% 126.7% 124.4% 110.6% 158.7% 149.8% 179.3% n/a n/a n/a