Cogent Communications Holdings, Inc.

DB:OGM1 Stock Report

Market Cap: €777.2m

Cogent Communications Holdings Valuation

Is OGM1 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of OGM1 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

€36.66
Fair Value
56.6% undervalued intrinsic discount
11
Number of Analysts

Below Fair Value: OGM1 (€15.9) is trading below our estimate of fair value (€36.66)

Significantly Below Fair Value: OGM1 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for OGM1?

Key metric: As OGM1 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for OGM1. This is calculated by dividing OGM1's market cap by their current revenue.
What is OGM1's PS Ratio?
PS Ratio1x
SalesUS$907.23m
Market CapUS$901.82m

Price to Sales Ratio vs Peers

How does OGM1's PS Ratio compare to its peers?

The above table shows the PS ratio for OGM1 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.8x
NFN NFON
0.8x8.29%€75.2m
KZTA Kazakhtelecom JSC
0.8xn/a€431.2b
UTDI United Internet
0.7x3.93%€4.3b
O2D Telefónica Deutschland Holding
0.7xn/a€6.0b
OGM1 Cogent Communications Holdings
1x8.22%€901.8m

Price-To-Sales vs Peers: OGM1 is expensive based on its Price-To-Sales Ratio (1x) compared to the peer average (0.8x).

Price to Sales Ratio vs Industry

How does OGM1's PS Ratio compare vs other companies in the European Telecom Industry?

5 CompaniesPrice / SalesEstimated GrowthMarket Cap
OGM1 1.0xIndustry Avg. 1.1xNo. of Companies12PS012345+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: OGM1 is good value based on its Price-To-Sales Ratio (1x) compared to the European Telecom industry average (1.1x).

Price to Sales Ratio vs Fair Ratio

What is OGM1's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

OGM1 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1x
Fair PS Ratio1.2x

Price-To-Sales vs Fair Ratio: OGM1 is good value based on its Price-To-Sales Ratio (1x) compared to the estimated Fair Price-To-Sales Ratio (1.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst OGM1 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€15.90
€27.05
+70.13%
31.62%€47.71€19.95n/a11
Nov ’26€35.00
€40.67
+16.21%
28.42%€63.92€25.57n/a11
Oct ’26€32.80
€40.67
+24.00%
28.42%€63.92€25.57n/a11
Sep ’26€31.60
€40.74
+28.94%
28.42%€64.03€25.61n/a11
Aug ’26€39.20
€59.14
+50.87%
20.22%€78.31€38.72n/a11
Jul ’26€42.00
€59.53
+41.73%
22.00%€78.88€38.17n/a11
Jun ’26€39.80
€62.78
+57.74%
22.20%€82.44€39.89n/a11
May ’26€47.20
€70.88
+50.17%
16.10%€89.96€52.92n/a11
Apr ’26€56.50
€75.12
+32.96%
15.35%€94.28€55.46n/a11
Mar ’26€69.00
€79.24
+14.84%
15.64%€98.35€57.85n/a11
Feb ’26€72.00
€78.81
+9.45%
17.22%€97.92€52.80n/a11
Jan ’26€71.50
€78.73
+10.12%
17.22%€97.83€52.75n/a11
Dec ’25€77.00
€77.75
+0.97%
17.59%€97.36€52.50n/a11
Nov ’25€74.50
€69.24
-7.06%
13.52%€82.00€50.11€35.0010
Oct ’25€67.00
€67.28
+0.42%
14.70%€80.63€49.27€32.8010
Sep ’25€62.50
€67.28
+7.65%
14.70%€80.63€49.27€31.6010
Aug ’25€63.50
€66.34
+4.47%
13.88%€83.15€50.81€39.2010
Jul ’25€51.50
€66.64
+29.40%
14.64%€83.82€51.22€42.009
Jun ’25€55.50
€68.91
+24.15%
12.26%€82.81€50.61€39.809
May ’25€59.50
€71.54
+20.23%
10.01%€82.21€56.63€47.2010
Apr ’25€60.00
€71.54
+19.23%
10.01%€82.21€56.63€56.5010
Mar ’25€71.50
€73.29
+2.50%
9.97%€83.05€57.21€69.0010
Feb ’25€69.00
€71.50
+3.62%
9.06%€78.40€57.18€72.0010
Jan ’25€67.50
€70.76
+4.83%
9.02%€78.46€57.23€71.509
Dec ’24€57.50
€70.85
+23.21%
9.47%€79.55€58.03€77.0010
Nov ’24€60.50
€70.73
+16.90%
11.12%€80.16€56.58€74.5010
€26.09
Fair Value
39.1% undervalued intrinsic discount
11
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/11/27 12:55
End of Day Share Price 2025/11/26 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Cogent Communications Holdings, Inc. is covered by 30 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Michael FunkBofA Global Research
Walter PiecykBTIG
Gregory MillerCanaccord Genuity