Company Valuation: Cogent Communications Holdings, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,382 2,663 3,586 3,656 1,023 475.4 - -
Change - -21.26% 34.65% 1.96% -72.01% -53.54% - -
Enterprise Value (EV) 1 4,200 3,577 4,907 5,423 3,172 2,341 2,436 2,494
Change - -14.82% 37.16% 10.52% -41.51% -26.19% 4.03% 2.38%
P/E 71x 519x 2.86x -18x -5.67x -9.1x -3.45x -4.14x
PBR -9.35x -5.28x 6.07x 17x -16.9x -2.34x -1.48x -1.08x
PEG - -5.8x 0x 0x 0.5x 0.1x -0x 0.2x
Capitalization / Revenue 5.73x 4.44x 3.81x 3.53x 1.05x 0.5x 0.49x 0.45x
EV / Revenue 7.12x 5.97x 5.21x 5.23x 3.25x 2.47x 2.49x 2.38x
EV / EBITDA 18.4x 15.4x 13.9x 15.6x 10.8x 7.86x 7.41x 8.91x
EV / EBIT 35.2x 31.4x -37.9x -27.4x -31.4x 29x -71.6x 76.8x
EV / FCF 41.9x 37.8x -43.7x -26.6x -16x 21.6x 16.1x 192x
FCF Yield 2.39% 2.65% -2.29% -3.76% -6.25% 4.63% 6.21% 0.52%
Dividend per Share 2 3.17 3.555 3.76 3.92 3.05 0.08 0.08 0.0714
Rate of return 4.33% 6.23% 4.94% 5.09% 14.1% 0.81% 0.81% 0.72%
EPS 2 1.03 0.11 26.62 -4.28 -3.8 -1.09 -2.878 -2.395
Distribution rate 308% 3,232% 14.1% -91.6% -80.3% -7.34% -2.78% -2.98%
Net sales 1 589.8 599.6 940.9 1,036 975.8 946 978.5 1,050
EBITDA 1 227.9 232.9 352.5 348.4 292.8 298 328.7 280
EBIT 1 119.2 114 -129.3 -197.6 -101.1 80.71 -34.02 32.47
Net income 1 48.18 5.146 1,273 -204.1 -182.2 -63.53 -142.4 -115.3
Net Debt 1 817.7 914.2 1,321 1,766 2,149 1,866 1,960 2,018
Reference price 2 73.180 57.080 76.060 77.070 21.560 9.920 9.920 9.920
Nbr of stocks (in thousands) 46,220 46,658 47,148 47,441 47,464 47,926 - -
Announcement Date 2/24/22 2/23/23 2/29/24 2/27/25 2/20/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-9.1x2.47x7.86x0.81% 475M
11.44x1.35x4.34x6.76% 230B
10.36x2.5x6.61x6% 196B
14.01x2.18x5.65x3.88% 161B
12.66x1.83x7.95x3.4% 81.84B
11.6x0.87x3.24x6.77% 79.05B
11.76x1.89x4.78x2.7% 71.51B
15.4x2.73x8.58x5.06% 57.95B
23.14x5.21x18.5x4.65% 54.9B
12.64x1.78x5.46x4.79% 50.56B
Average 11.39x 2.28x 7.30x 4.48% 98.25B
Weighted average by Cap. 12.72x 2.08x 6.35x 5.24%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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