Cogent Communications Holdings Inc. (CCOI)

FairStock Score: 34/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a disciplined value investor, I start with earning power. Cogent provides business internet, private network, and colocation services, a real but competitive telecom niche. The filed record is not reassuring. In FY2025 (period ended 2025-12-31), revenue was $975.8M and net loss was $182.2M, or diluted EPS -$3.80. In FY2024 (period ended 2024-12-31), revenue was $1.0B and net loss was $204.1M, or diluted EPS -$4.28. FY2023 (period ended 2023-12-31) showed net income of $1.3B and diluted EPS $26.62, but that did not persist. The latest quarter, fiscal Q2 2026 (quarter ended 2026-06-30), showed revenue of $235.6M, net income of $66.6M, and diluted EPS of $1.38. That is a hopeful sign, but the prior quarter, fiscal Q1 2026 (quarter ended 2026-03-31), had a net loss of $39.5M and diluted EPS -$0.83. Revenue also slipped: fiscal Q2 2026 revenue of $235.6M was below fiscal Q2 2025 revenue of $246.2M. FairStock calculations at the 2026-10-13 close show a P/E of -9.12, P/B N/A, ROE -721.50%, ROCE -1.23%, trailing FCF of -$142.9M, and FCF yield -32.6%. The Altman Z-Score is -0.30, Piotroski 5/9, EV/EBITDA 8.68, and FairStock score 34/100; Lynch category is TURNAROUND. A low beta of 0.79 and 0.93% dividend yield do not offset negative cash flow and a 52-week range of $7.13 to $45.69. Without evidence that the latest profit is durable and cash flow turns positive, the margin of safety is unclear.

In plain English: Cogent sells high-speed internet, private network, and data-center space to businesses around the world. The business has been weak: it lost money in its last two full fiscal years and burned cash over the trailing year, though the latest reported quarter was profitable. At the 2026-10-13 closing price of $8.57, the stock sits far below its 52-week high of $45.69, but the low price alone does not prove it is cheap given the losses and cash burn.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer