Cogent Communications Holdings
Cogent Communications Holdings, Inc., through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, Asia, Australia, and Brazil. The last earnings update was 52 days ago. More info.
Add to Portfolio Compare Print
CCOI Share Price and Events
7 Day Returns
1 Year Returns
CCOI Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Cogent Communications Holdings (CCOI) | 0.7% | 3.6% | 13.7% | 9.5% | 56.3% | 77.8% |
| US Telecom | -0.2% | -0.2% | 0.8% | 6.5% | -11.6% | -3.9% |
| US Market | 2.2% | 4.2% | 4.4% | 3.8% | 43% | 40.9% |
1 Year Return vs Industry and Market
- CCOI outperformed the Telecom industry which returned 6.5% over the past year.
- CCOI outperformed the Market in United States of America which returned 3.8% over the past year.
Value
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Cogent Communications Holdings
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Cogent Communications Holdings.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 16 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 7.5% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| Telecom Unlevered Beta | Simply Wall St/ S&P Global | 0.33 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.332 (1 + (1- 21%) (32.93%)) |
0.611 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.8 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%) |
7.5% |
Discounted Cash Flow Calculation for NasdaqGS:CCOI using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Cogent Communications Holdings is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (USD, Millions) | Source |
Present Value Discounted (@ 7.5%) |
|
|---|---|---|---|
| 2019 | 86.17 | Analyst x8 | 80.16 |
| 2020 | 116.28 | Analyst x9 | 100.62 |
| 2021 | 125.97 | Analyst x3 | 101.41 |
| 2022 | 113.61 | Analyst x1 | 85.08 |
| 2023 | 124.18 | Analyst x1 | 86.51 |
| 2024 | 126.02 | Est @ 1.48% | 81.66 |
| 2025 | 128.36 | Est @ 1.86% | 77.38 |
| 2026 | 131.08 | Est @ 2.12% | 73.51 |
| 2027 | 134.09 | Est @ 2.3% | 69.95 |
| 2028 | 137.35 | Est @ 2.43% | 66.65 |
| Present value of next 10 years cash flows | $822.92 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $137.35 × (1 + 2.73%) ÷ (7.5% – 2.73%) |
$2,959.35 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $2,959.35 ÷ (1 + 7.5%)10 |
$1,436.13 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $822.92 + $1,436.13 |
$2,259.05 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $2,259.05 / 45.24 |
$49.94 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $49.94 |
| Current discount | Discount to share price of
$59.88
= -1 x ($59.88 - $49.94) / $49.94 |
-19.9% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Cogent Communications Holdings is above its future cash flow value.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Cogent Communications Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Cogent Communications Holdings's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in USD | $0.69 |
| NasdaqGS:CCOI Share Price ** | NasdaqGS (2019-06-21) in USD | $59.88 |
| United States of America Telecom Industry PE Ratio | Median Figure of 17 Publicly-Listed Telecom Companies | 14.92x |
| United States of America Market PE Ratio | Median Figure of 3,094 Publicly-Listed Companies | 17.87x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Cogent Communications Holdings.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NasdaqGS:CCOI Share Price ÷ EPS (both in USD) = 59.88 ÷ 0.69 |
87.33x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Cogent Communications Holdings is overvalued based on earnings compared to the US Telecom industry average.
- Cogent Communications Holdings is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does
Cogent Communications Holdings's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 87.33x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts |
19.7%per year |
| United States of America Telecom Industry PEG Ratio | Median Figure of 8 Publicly-Listed Telecom Companies | 1.96x |
| United States of America Market PEG Ratio | Median Figure of 2,134 Publicly-Listed Companies | 1.54x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 87.33x ÷ 19.7% |
4.44x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Cogent Communications Holdings is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Cogent Communications Holdings's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in USD | $-3.63 |
| NasdaqGS:CCOI Share Price * | NasdaqGS (2019-06-21) in USD | $59.88 |
| United States of America Telecom Industry PB Ratio | Median Figure of 29 Publicly-Listed Telecom Companies | 1.66x |
| United States of America Market PB Ratio | Median Figure of 5,255 Publicly-Listed Companies | 1.81x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NasdaqGS:CCOI Share Price ÷ Book Value per Share (both in USD) = 59.88 ÷ -3.63 |
-16.49x |
* Primary Listing of Cogent Communications Holdings.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Cogent Communications Holdings has negative assets, we can't compare the value of its assets to the US Telecom industry average.
Value checks
We assess Cogent Communications Holdings's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Telecom industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Telecom industry average (and greater than 0)? (1 check) Cogent Communications Holdings has a total score of 0/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Cogent Communications Holdings's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- Cogent Communications Holdings's earnings growth is expected to exceed the United States of America market average.
- Cogent Communications Holdings's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NasdaqGS:CCOI Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts | 19.7% |
| NasdaqGS:CCOI Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 16 Analysts | 5.5% |
| United States of America Telecom Industry Earnings Growth Rate | Market Cap Weighted Average | 7.8% |
| United States of America Telecom Industry Revenue Growth Rate | Market Cap Weighted Average | 0.8% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 14% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.4% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 16 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 674 | 184 | 85 | 2 |
| 2022-12-31 | 642 | 174 | 74 | 2 |
| 2021-12-31 | 625 | 177 | 72 | 4 |
| 2020-12-31 | 585 | 160 | 53 | 14 |
| 2019-12-31 | 549 | 141 | 42 | 16 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 513 | 132 | 31 |
| 2018-12-31 | 508 | 134 | 29 |
| 2018-09-30 | 501 | 125 | 15 |
| 2018-06-30 | 494 | 122 | 11 |
| 2018-03-31 | 485 | 118 | 9 |
| 2017-12-31 | 474 | 112 | 6 |
| 2017-09-30 | 465 | 114 | 16 |
| 2017-06-30 | 455 | 108 | 16 |
| 2017-03-31 | 446 | 104 | 16 |
| 2016-12-31 | 438 | 108 | 15 |
| 2016-09-30 | 426 | 96 | 14 |
| 2016-06-30 | 419 | 97 | 13 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 16 Analyst Estimates (S&P Global) | See Below |
All data from Cogent Communications Holdings Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 1.81 | 2.12 | 1.50 | 2.00 |
| 2022-12-31 | 1.57 | 1.78 | 1.37 | 2.00 |
| 2021-12-31 | 1.53 | 2.14 | 1.18 | 5.00 |
| 2020-12-31 | 1.15 | 1.60 | 0.95 | 14.00 |
| 2019-12-31 | 0.89 | 1.12 | 0.78 | 14.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2019-03-31 | 0.69 |
| 2018-12-31 | 0.63 |
| 2018-09-30 | 0.34 |
| 2018-06-30 | 0.24 |
| 2018-03-31 | 0.19 |
| 2017-12-31 | 0.13 |
| 2017-09-30 | 0.36 |
| 2017-06-30 | 0.35 |
| 2017-03-31 | 0.35 |
| 2016-12-31 | 0.33 |
| 2016-09-30 | 0.30 |
| 2016-06-30 | 0.30 |
*GAAP earnings excluding extraordinary items.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
- Unable to establish if Cogent Communications Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
Future performance checks
We assess Cogent Communications Holdings's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Cogent Communications Holdings has a total score of 2/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
Past Performance
How has Cogent Communications Holdings performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Cogent Communications Holdings's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
- Cogent Communications Holdings's 1-year earnings growth exceeds its 5-year average (264.9% vs -15.8%)
- Cogent Communications Holdings's earnings growth has exceeded the US Telecom industry average in the past year (264.9% vs 15.7%).
Earnings and Revenue History
All data from Cogent Communications Holdings Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 512.92 | 31.10 | 136.20 | |
| 2018-12-31 | 507.69 | 28.67 | 133.86 | |
| 2018-09-30 | 501.17 | 15.34 | 132.39 | |
| 2018-06-30 | 494.30 | 10.76 | 131.89 | |
| 2018-03-31 | 485.18 | 8.52 | 129.98 | |
| 2017-12-31 | 474.28 | 5.88 | 127.92 | |
| 2017-09-30 | 464.95 | 16.00 | 124.37 | |
| 2017-06-30 | 455.43 | 15.80 | 121.51 | |
| 2017-03-31 | 446.11 | 15.71 | 119.54 | |
| 2016-12-31 | 437.80 | 14.93 | 117.61 | |
| 2016-09-30 | 426.38 | 13.52 | 116.58 | |
| 2016-06-30 | 418.64 | 13.22 | 113.85 | |
| 2016-03-31 | 409.68 | 9.84 | 112.96 | |
| 2015-12-31 | 400.63 | 4.90 | 113.10 | |
| 2015-09-30 | 395.61 | 2.06 | 113.83 | |
| 2015-06-30 | 388.28 | -1.28 | 113.86 | |
| 2015-03-31 | 384.11 | -0.91 | 111.07 | |
| 2014-12-31 | 379.80 | 0.80 | 107.68 | |
| 2014-09-30 | 373.11 | 53.75 | 102.61 | |
| 2014-06-30 | 365.18 | 56.05 | 96.97 | |
| 2014-03-31 | 356.36 | 56.45 | 92.06 | |
| 2013-12-31 | 347.98 | 56.69 | 87.24 | |
| 2013-09-30 | 340.73 | 3.81 | 84.08 | |
| 2013-06-30 | 332.63 | 1.60 | 81.83 | |
| 2013-03-31 | 324.64 | -1.80 | 80.01 | |
| 2012-12-31 | 316.97 | -4.25 | 79.89 | |
| 2012-09-30 | 313.45 | 1.45 | 79.75 | |
| 2012-06-30 | 311.17 | 1.82 | 79.26 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- It is difficult to establish if Cogent Communications Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) due to its liabilities exceeding its assets.
- Cogent Communications Holdings used its assets more efficiently than the US Telecom industry average last year based on Return on Assets.
- Cogent Communications Holdings has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Cogent Communications Holdings's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Telecom industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Cogent Communications Holdings has a total score of 4/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Health
How is Cogent Communications Holdings's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Cogent Communications Holdings's finances.
The net worth of a company is the difference between its assets and liabilities.
- Cogent Communications Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Cogent Communications Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Cogent Communications Holdings has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Cogent Communications Holdings Company Filings, last reported 2 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | -164.23 | 891.57 | 259.14 |
| 2018-12-31 | -149.00 | 795.24 | 276.09 |
| 2018-09-30 | -125.84 | 792.84 | 284.56 |
| 2018-06-30 | -114.64 | 720.99 | 224.28 |
| 2018-03-31 | -97.06 | 718.84 | 236.03 |
| 2017-12-31 | -102.54 | 718.18 | 247.01 |
| 2017-09-30 | -80.12 | 714.78 | 250.77 |
| 2017-06-30 | -71.20 | 710.03 | 256.49 |
| 2017-03-31 | -63.61 | 705.19 | 263.20 |
| 2016-12-31 | -53.25 | 701.82 | 274.32 |
| 2016-09-30 | -40.49 | 575.75 | 148.15 |
| 2016-06-30 | -29.39 | 571.24 | 154.97 |
| 2016-03-31 | -18.38 | 582.58 | 196.05 |
| 2015-12-31 | -12.27 | 581.45 | 203.59 |
| 2015-09-30 | 1.10 | 580.88 | 207.29 |
| 2015-06-30 | 22.19 | 578.67 | 224.49 |
| 2015-03-31 | 54.25 | 581.97 | 260.05 |
| 2014-12-31 | 83.79 | 603.91 | 287.79 |
| 2014-09-30 | 108.66 | 607.01 | 311.78 |
| 2014-06-30 | 140.62 | 609.08 | 349.84 |
| 2014-03-31 | 163.00 | 498.05 | 263.75 |
| 2013-12-31 | 193.49 | 496.08 | 304.87 |
| 2013-09-30 | 155.04 | 490.33 | 304.78 |
| 2013-06-30 | 154.54 | 412.48 | 237.34 |
| 2013-03-31 | 155.86 | 408.93 | 234.96 |
| 2012-12-31 | 159.78 | 395.43 | 247.29 |
| 2012-09-30 | 160.98 | 387.30 | 232.06 |
| 2012-06-30 | 161.15 | 386.05 | 237.23 |
- Cogent Communications Holdings has negative shareholder equity (liabilities exceed assets), this is a more serious situation compared with a high debt level.
- Irrelevant to check if Cogent Communications Holdings's debt level has increased considering it has negative shareholder equity.
- Debt is not well covered by operating cash flow (16.6%, less than 20% of total debt).
- Interest payments on debt are not well covered by earnings (EBIT is 1.9x annual interest expense, ideally 3x coverage).
Financial health checks
We assess Cogent Communications Holdings's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Cogent Communications Holdings has a total score of 1/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
Dividends
What is Cogent Communications Holdings's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
Cogent Communications Holdings
shares you are expected to receive
$80
in your first year as a dividend.
Dividend Amount
- Cogent Communications Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
- Cogent Communications Holdings's dividend is above the markets top 25% of dividend payers in United States of America (3.73%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 16 Analyst Estimates (S&P Global) | See Below |
| United States of America Telecom Industry Average Dividend Yield | Market Cap Weighted Average of 8 Stocks | 5.3% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2012 Stocks | 2.4% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.4% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.7% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | 4.16 | 2.00 |
| 2022-12-31 | 3.71 | 2.00 |
| 2021-12-31 | 3.15 | 5.00 |
| 2020-12-31 | 2.76 | 13.00 |
| 2019-12-31 | 2.45 | 13.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-05-02 | 2.400 | 4.131 |
| 2019-02-22 | 2.320 | 4.380 |
| 2019-02-21 | 2.320 | 4.647 |
| 2018-11-01 | 2.240 | 4.671 |
| 2018-08-02 | 2.160 | 4.076 |
| 2018-05-03 | 2.080 | 3.988 |
| 2018-02-22 | 2.000 | 4.470 |
| 2017-11-02 | 1.920 | 4.260 |
| 2017-08-03 | 1.840 | 3.905 |
| 2017-05-04 | 1.760 | 4.323 |
| 2017-02-24 | 1.680 | 3.944 |
| 2017-02-23 | 1.680 | 3.962 |
| 2016-11-03 | 1.600 | 3.946 |
| 2016-08-04 | 1.520 | 4.201 |
| 2016-05-05 | 1.480 | 3.656 |
| 2016-02-24 | 1.560 | 4.121 |
| 2015-11-05 | 1.520 | 4.548 |
| 2015-08-06 | 1.480 | 5.185 |
| 2015-05-08 | 1.440 | 4.457 |
| 2015-05-07 | 1.440 | 4.478 |
| 2014-11-07 | 1.510 | 4.245 |
| 2014-08-07 | 1.200 | 3.635 |
| 2014-05-08 | 0.910 | 2.586 |
| 2014-02-20 | 0.870 | 2.446 |
| 2013-11-08 | 0.600 | 1.516 |
| 2013-08-08 | 0.560 | 1.706 |
| 2013-05-08 | 0.520 | 1.820 |
| 2013-05-07 | 0.520 | 1.768 |
| 2013-02-21 | 0.480 | 1.802 |
| 2012-11-06 | 0.440 | 1.919 |
| 2012-05-03 | 0.400 | 2.044 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Cogent Communications Holdings has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
- Dividend payments have increased, but Cogent Communications Holdings only paid a dividend in the past 7 years.
Income/ dividend checks
We assess Cogent Communications Holdings's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Cogent Communications Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Cogent Communications Holdings has a total score of 2/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | $7,690,848 |
| AGE | 62 |
CEO Bio
Mr. David Schaeffer, also known as Dave, Ph.D., founded Cogent Communications Holdings, Inc., in August 1999 and serves as its Chairman, Chief Executive Officer and President. Mr. Schaeffer is a Founder of Cogent Communications, Inc. and serves as its Chief Executive Officer. Mr. Schaeffer also serves as an Industry Advisor at Jerusalem Venture Partners (JVP). He is an Operating Partner at Catalyst Investors. He founded Pathnet Inc., and served as its Chief Executive Officer from 1995 to 1997 and Chairman from 1997 to 1999. He also founded and operated a total of seven successful businesses, including the second-largest delivery and ground transportation enterprise in the United States with annual revenues of approximately $25 million and a property and casualty underwriter with $17 million in assets and $12 million in annual revenues. He has been Independent Director at Cyber-Ark Software, Inc. since May 2014. He has been an Independent Director of CyberArk Software, Ltd. since May 2014. He has also developed 44 commercial real estate properties in the Washington D.C. metro area, retaining controlling interest in 23 of these projects. His diverse background and entrepreneurial successes have enabled him to build management teams that constructed and operate the only facilities-based, non-oversubscribed multinational network of its kind. He has been a Director of Cogent Communications Holdings, Inc., since 1999. He has successfully founded and operated six other businesses prior to Cogent. These businesses span a wide array of industries from communications to commercial real estate. His diverse background and entrepreneurial successes have enabled him to build management teams that constructed and operate the only facilities-based, non-oversubscribed international network of its kind. He holds a B.S. in Physics from the University of Maryland, where he was a Ph.D. candidate in Economics.
CEO Compensation
- Dave's compensation has been consistent with company performance over the past year, both up more than 20%.
- Dave's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the Cogent Communications Holdings management team in years:
- The tenure for the Cogent Communications Holdings management team is about average.
Management Team
Dave Schaeffer
Founder
$8M
62
Tad Weed
CFO & Treasurer
$1M
57
15.1 yrs
James Bubeck
Chief Revenue Officer & VP of Global Sales
$873K
52
3.7 yrs
Robert Beury
$850K
64
0.1 yrs
Tim O'Neill
Vice President of Field Engineering
$844K
62
Raymond Kummer
CTO & VP of Optical Transport Engineering
$190K
69
John Chang
Chief Legal Officer
Vincent Teissier
Director of Business Development
50
Ried Zulager
Secretary
Board of Directors Tenure
Average tenure and age of the Cogent Communications Holdings board of directors in years:
- The average tenure for the Cogent Communications Holdings board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors
Steven Brooks
Director
$350K
66
15.7 yrs
Dave Schaeffer
Founder
$8M
62
David Bath
Director
$349K
55
12.6 yrs
Lewis Ferguson
Director
$99K
73
0.7 yrs
Timothy Weingarten
Director
$349K
42
15.7 yrs
Richard Liebhaber
Director
$351K
82
13.3 yrs
Marc Montagner
Director
$349K
56
9.2 yrs
Who owns this company?
Recent Insider Trading
- Cogent Communications Holdings insiders have only sold shares in the past 3 months.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 13. Jun 19 | Sell | Thaddeus Weed | Individual | 13. Jun 19 | 13. Jun 19 | -1,400 | $60.84 | $-85,176 | ||
| 10. Jun 19 | Sell | Raymond Kummer | Individual | 10. Jun 19 | 10. Jun 19 | -2,400 | $61.24 | $-146,966 | ||
| 06. Jun 19 | Sell | Thaddeus Weed | Individual | 05. Jun 19 | 05. Jun 19 | -5,000 | $58.50 | $-292,500 | ||
| 06. Jun 19 | Sell | Timothy O'Neill | Individual | 06. Jun 19 | 06. Jun 19 | -4,000 | $58.62 | $-234,480 | ||
| 24. May 19 | Sell | Lewis Ferguson | Individual | 23. May 19 | 23. May 19 | -515 | $57.45 | $-29,586 | ||
| 22. May 19 | Sell | Raymond Kummer | Individual | 22. May 19 | 22. May 19 | -2,440 | $58.40 | $-142,496 | ||
| 09. May 19 | Sell | David Bath | Individual | 09. May 19 | 09. May 19 | -10,000 | $57.88 | $-578,776 | ||
| 07. May 19 | Sell | Thaddeus Weed | Individual | 06. May 19 | 06. May 19 | -1,500 | $57.11 | $-85,663 | ||
| 13. Mar 19 | Sell | Steven Brooks | Individual | 12. Mar 19 | 12. Mar 19 | -9,900 | $50.13 | $-496,280 | ||
| 12. Mar 19 | Sell | Marc Montagner | Individual | 12. Mar 19 | 12. Mar 19 | -2,000 | $50.00 | $-100,000 | ||
| 12. Mar 19 | Sell | Thaddeus Weed | Individual | 12. Mar 19 | 12. Mar 19 | -5,000 | $50.00 | $-250,000 | ||
| 08. Mar 19 | Sell | Lewis Ferguson | Individual | 07. Mar 19 | 07. Mar 19 | -580 | $48.60 | $-28,187 | ||
| 14. Dec 18 | Sell | Thaddeus Weed | Individual | 14. Dec 18 | 14. Dec 18 | -3,000 | $46.89 | $-140,658 | ||
| 14. Dec 18 | Sell | Lewis Ferguson | Individual | 14. Dec 18 | 14. Dec 18 | -800 | $47.20 | $-37,760 | ||
| 09. Nov 18 | Sell | James Wei | Individual | 08. Nov 18 | 08. Nov 18 | -2,500 | $51.01 | $-127,523 | ||
| 14. Sep 18 | Sell | David Bath | Individual | 13. Sep 18 | 13. Sep 18 | -3,589 | $54.94 | $-197,186 | ||
| 13. Sep 18 | Sell | David Bath | Individual | 11. Sep 18 | 12. Sep 18 | -18,411 | $55.03 | $-1,011,312 | ||
| 13. Sep 18 | Sell | Robert Beury | Individual | 13. Sep 18 | 13. Sep 18 | -4,000 | $54.92 | $-219,689 | ||
| 12. Sep 18 | Sell | Robert Beury | Individual | 12. Sep 18 | 12. Sep 18 | -2,000 | $54.96 | $-109,910 | ||
| 05. Sep 18 | Sell | Thaddeus Weed | Individual | 05. Sep 18 | 05. Sep 18 | -4,500 | $53.55 | $-240,975 | ||
Management checks
We assess Cogent Communications Holdings's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Cogent Communications Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
News
Simply Wall St News
Cogent Communications Holdings, Inc. (NASDAQ:CCOI): Poised For Long Term Success?
See our latest analysis for Cogent Communications Holdings What can we expect from Cogent Communications Holdings in the longer term? … To understand the overall trajectory of CCOI's earnings growth over these next fews years, I've fitted a line through these analyst earnings forecast to determine an annual growth rate from the slope. … NasdaqGS:CCOI Past and Future Earnings, June 18th 2019 This results in an annual growth rate of 20% based on the most recent earnings level of US$29m to the final forecast of US$67m by 2022.
Simply Wall St - – Full articleHow Does Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Fare As A Dividend Stock?
Click the interactive chart for our full dividend analysis NasdaqGS:CCOI Historical Dividend Yield, June 5th 2019 Payout ratios Companies (usually) pay dividends out of their earnings. If a company is paying more than it earns, the dividend might have to be cut. So we need to be form a view on if a company's dividend is sustainable, relative to its net profit after tax. Cogent Communications Holdings paid out 321% of its profit as dividends, over the trailing twelve month period. A payout ratio above 100% is definitely an item of concern, unless there are some other circumstances that would justify it. In addition to comparing dividends against profits, we should inspect whether the company generated enough cash to pay its dividend. With a cash payout ratio of 116%, Cogent Communications Holdings's dividend payments are poorly covered by cash flow. As Cogent Communications Holdings's dividend was not well covered by either earnings or cash flow, we would be concerned that this dividend could be at risk over the long term. Is Cogent Communications Holdings's Balance Sheet Risky? As Cogent Communications Holdings's dividend was not well covered by earnings, we need to check its balance sheet for signs of financial distress. A rough way to check this is with these two simple ratios: a) net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and b) net interest cover. … Cogent Communications Holdings is carrying net debt of 3.71 times its EBITDA, which is getting towards the upper limit of our comfort range on a dividend stock that the investor hopes will endure a wide range of economic circumstances. … Looking at the data, we can see that Cogent Communications Holdings has been paying a dividend for the past seven years.
Simply Wall St - – Full articleA Look At The Intrinsic Value Of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)
A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we need to discount the sum of these future cash flows to arrive at a present value estimate: 10-year free cash flow (FCF) estimate 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF ($, Millions) $83.45 $116.06 $125.97 $113.61 $124.18 $126.07 $128.44 $131.18 $134.22 $137.49 Growth Rate Estimate Source Analyst x6 Analyst x8 Analyst x3 Analyst x1 Analyst x1 Est @ 1.52% Est @ 1.88% Est @ 2.14% Est @ 2.31% Est @ 2.44% Present Value ($, Millions) Discounted @ 7.5% $77.63 $100.44 $101.41 $85.08 $86.51 $81.70 $77.43 $73.57 $70.02 $66.72 Present Value of 10-year Cash Flow (PVCF)= $820.49m "Est" = FCF growth rate estimated by Simply Wall St After calculating the present value of future cash flows in the intial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. … In the same way as with the 10-year 'growth' period, we discount future cash flows to today's value, using a cost of equity of 7.5%. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = US$137m × (1 + 2.7%) ÷ (7.5% – 2.7%) = US$3.0b Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = $US$3.0b ÷ ( 1 + 7.5%)10 = $1.44b The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is $2.26b.
Simply Wall St - – Full articleRead This Before Buying Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares
So shareholders might well want to know whether insiders have been buying or selling shares in Cogent Communications Holdings, Inc. … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … Cogent Communications Holdings insiders didn't buy any shares over the last year
Simply Wall St - – Full articleCan You Imagine How Cogent Communications Holdings's (NASDAQ:CCOI) Shareholders Feel About The 62% Share Price Increase?
To wit, the Cogent Communications Holdings share price has climbed 62% in five years, easily topping the market return of 47% (ignoring dividends). … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … Cogent Communications Holdings's earnings per share are down 12% per year, despite strong share price performance over five years.
Simply Wall St - – Full articleWhat Should You Know About Cogent Communications Holdings, Inc.'s (NASDAQ:CCOI) Earnings Trend?
Cogent Communications Holdings, Inc.'s (NASDAQ:CCOI) released its most recent earnings update in December 2018, whicha
Simply Wall St - – Full articleWhy We Like Cogent Communications Holdings, Inc.’s (NASDAQ:CCOI) 13% Return On Capital Employed
Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Return On Capital Employed (ROCE): What is it? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.
Simply Wall St - – Full articleA Look At The Intrinsic Value Of Cogent Communications Holdings, Inc. (NASDAQ:CCOI)
by taking the expected future cash flows and discounting them to today's value. … discounted cash flows (DCF) … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model.
Simply Wall St - – Full articleHave Insiders Been Selling Cogent Communications Holdings, Inc. (NASDAQ:CCOI) Shares This Year?
So shareholders might well want to know whether insiders have been buying or selling shares in Cogent Communications Holdings, Inc. … Cogent Communications Holdings Insider Transactions Over The Last Year. … Over the last year we saw more insider selling of Cogent Communications Holdings shares, than buying
Simply Wall St - – Full articleDoes Cogent Communications Holdings Inc (NASDAQ:CCOI) Have A Place In Your Dividend Stock Portfolio?
Historically, Cogent Communications Holdings Inc (NASDAQ:CCOI) has paid a dividend to shareholders. … Does Cogent Communications Holdings tick all the boxes of a great dividend stock? … See our latest analysis for Cogent Communications Holdings
Simply Wall St - – Full articleCompany Info
Description
Cogent Communications Holdings, Inc., through its subsidiaries, provides high-speed Internet access, private network, and data center colocation space services primarily to small and medium-sized businesses, communications service providers, and other bandwidth-intensive organizations in North America, Europe, Asia, Australia, and Brazil. The company offers on-net Internet access and private network services to law firms, financial services firms, advertising and marketing firms, other professional services businesses, other Internet service providers, telephone companies, cable television companies, Web hosting companies, content delivery network companies, and commercial content and application service providers. It also provides on-net services in carrier-neutral data centers, Cogent controlled data centers, and single-tenant office buildings. In addition, the company offers off-net services to businesses that are connected to its network primarily by means of ‘last mile’ access service lines obtained from other carriers primarily in the form of metropolitan Ethernet circuits. Further, it provides Internet connectivity to customers that are not located in buildings directly connected to its network, as well as offers voice services. The company operates 52 data centers. Cogent Communications Holdings, Inc. was founded in 1999 and is headquartered in Washington, the District of Columbia.
Details
| Name: | Cogent Communications Holdings, Inc. |
| CCOI | |
| Exchange: | NasdaqGS |
| Founded: | 1999 |
| $2,707,805,170 | |
| 45,235,636 | |
| Website: | http://www.cogentco.com |
| Address: |
Cogent Communications Holdings, Inc. 2450 North Street NW, Washington, District Of Columbia, 20037, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NasdaqGS | CCOI | Common Stock | Nasdaq Global Select | US | USD | 05. Feb 2002 | |
| DB | OGM1 | Common Stock | Deutsche Boerse AG | DE | EUR | 05. Feb 2002 |
Number of employees
Current staff
Industry
| Alternative Carriers | |
| Telecom |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/06/23 23:35 |
| End of day share price update: | 2019/06/21 00:00 |
| Last estimates confirmation: | 2019/06/14 |
| Last earnings filing: | 2019/05/02 |
| Last earnings reported: | 2019/03/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
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 here.
