Cogent Communications Holdings (CCOI) FY2018 results: revenue $520 million, up 7.2% on the year
Cogent Communications Holdings, Inc. (CCOI) reported revenue of $520 million for fiscal 2018, the year ended 31 December 2018, up 7.2% on the year before. Net income was $29 million, up 387.9%, and diluted earnings per share $0.63. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2019.
Revenue
$520 million
+7.2% on the year
FY2013FY2018
Operating margin
16.6%
15.6% a year earlier
FY2013FY2018
Net income
$29 million
+387.9% on the year
FY2013FY2018
Diluted EPS
$0.63
+384.6% on the year
FY2013FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
520
485
447
+7.2%
Cost of revenue
220
209
194
+4.9%
Gross profit
301
276
253
+9.0%
Gross margin
57.8%
56.9%
56.6%
Selling, general and administrative
134
128
121
+4.6%
Operating income
86.6
75.9
64.0
+14.0%
Operating margin
16.6%
15.6%
14.3%
Interest expense
51.1
48.5
40.8
+5.3%
Pre-tax income
41.4
31.1
24.3
+33.0%
Income tax
12.7
25.2
9.3
-49.6%
Effective tax rate
30.7%
81.1%
38.5%
Net income
28.7
5.9
14.9
+387.9%
Net margin
5.5%
1.2%
3.3%
Diluted EPS
$0.63
$0.13
$0.33
+384.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
134
112
108
+19.9%
Capital expenditure
49.9
45.8
45.2
+9.0%
Free cash flow
84.0
65.9
62.7
+27.4%
Free cash flow margin
16.1%
13.6%
14.0%
Cash from investing
-49.9
-45.8
-45.2
Cash from financing
-52.5
-97.3
8.3
Depreciation and amortisation
81.2
75.9
75.2
+7.0%
Share-based compensation
17.7
13.3
10.7
+33.2%
Buybacks
6.6
1.8
4.5
+258.9%
Dividends paid
97.9
81.7
68.2
+19.9%
Dividend per share
$2.12
$1.80
$1.51
+17.8%
Diluted shares, weighted
46m
45m
45m
+1.3%
Shares outstanding at period end
46m
46m
45m
+0.8%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
-149
-103
-53.3
Debt
645
575
570
+12.3%
Finance lease liabilities
157
n/a
n/a
Other liabilities
86.7
238
221
-63.6%
Total liabilities and equity
740
711
738
+4.1%
Fixed assets
375
381
362
-1.6%
Cash and equivalents
276
247
274
+11.8%
Receivables
41.7
39.1
33.6
+6.7%
Other assets
46.7
43.2
68.3
+8.2%
Total assets
740
711
738
+4.1%
10-K for the year ended 31 December 2018, filed 22 February 2019: the filing.