# COGENT COMMUNICATIONS HOLDINGS, INC. (CCOI) · Edgar & Edgarette company card

> Cogent Communications Holdings, Inc. (CCOI) saw revenue fall 5.8% in FY2025 to $976 million, operating margin -10.4% against a -4.4% median for communications services, equity -2.1% of assets, and its dividend per share fell in the latest year on record. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1158324 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/CCOI) · [JSON](https://www.pops4.com/boards/company/CCOI.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $976M |
| Revenue growth, 1 year | -5.8% |
| Revenue growth per year | 13.4% |
| Operating margin | -10.4% (prior year -19.1%) |
| Net margin | -18.7% |
| Operating cash flow | −$11M |
| Capital spending | $188M |
| Free cash flow | −$198M |
| Cash | $149M |
| Long-term debt | $1.7B |
| Total assets | $3.1B |
| Total equity | −$64M |
| Equity ÷ assets | -2.1% |
| Return on equity | — |
| Dividend per share | $3.05 |
| Dividend years rising | 0 |

## Readings, computed from those figures

- Altman Z: -0.5 (distress zone)
- Piotroski F: 4 of 9 (middling)
- Beneish M: -2.99 (below the −1.78 line)
- Health Harbor boat: Rotting at the dock · four or more warning signs · liabilities exceed assets (often from years of share buybacks, not always distress); operating cash flow was negative; operating loss: a margin of -10.4% in FY2025; revenue is hard to predict: its 80% range is ±28%
- Cash Compass: Fast, cash not yet · growing fast, but little cash arriving so far

## Edgarette's reading

Exposure: revenue $975.8M (FY2025), total debt $1.7B. Experience: revenue down 5.8% on the year, up 13.4% a year over 4 years; operating margin -10.4%, up from -19.1%. Soundness: equity -2.1% of assets (liabilities exceed assets), the dividend per share fell in the latest year on record. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $762.1M and $1.4B next year (method v4.1: its own 4-year record of growth weighed at 50% against $100M–1B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $659.1M to $1.6B. A statistical range, not company guidance. Against peers (11 filers, $50M+ revenue, communications services, nec): operating margin -10.4% against a -4.4% median; growth -5.8% against -0.1%.

Range logged 2026-09-27, receipt 8a7dfca71f7a4f48, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 5.02 Director or officer change: 2, latest 2026-05-04 ([filing](https://www.sec.gov/Archives/edgar/data/1158324/000110465926054817/0001104659-26-054817-index.htm))

## Recent filings

- 10-Q · filed 2026-11-05 · [filing](https://www.sec.gov/Archives/edgar/data/1158324/000110465926123158/0001104659-26-123158-index.htm)
- 8-K · filed 2026-11-05 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1158324/000110465926123047/0001104659-26-123047-index.htm)
- 10-Q · filed 2026-08-06 · [filing](https://www.sec.gov/Archives/edgar/data/1158324/000110465926091790/0001104659-26-091790-index.htm)
- 8-K · filed 2026-08-06 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1158324/000110465926091634/0001104659-26-091634-index.htm)
- 8-K · filed 2026-06-29 · 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1158324/000110465926078858/0001104659-26-078858-index.htm)
- 8-K · filed 2026-06-15 · 1.01 Entry into a Material Definitive Agreement; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1158324/000110465926074046/0001104659-26-074046-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001158324.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1158324

## Cite

POPS4, Edgar & Edgarette: COGENT COMMUNICATIONS HOLDINGS, INC. (CCOI) company card, from the company's own SEC filings, accessed 2026-11-12, https://www.pops4.com/boards/company/CCOI. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.