Cogent Communications Holdings (CCOI) FY2019 results: revenue $546 million, up 5.0% on the year
Cogent Communications Holdings, Inc. (CCOI) reported revenue of $546 million for fiscal 2019, the year ended 31 December 2019, up 5.0% on the year before. Net income was $38 million, up 30.9%, and diluted earnings per share $0.81. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2020.
Revenue
$546 million
+5.0% on the year
FY2013FY2019
Operating margin
18.4%
16.6% a year earlier
FY2013FY2019
Net income
$38 million
+30.9% on the year
FY2013FY2019
Diluted EPS
$0.81
+28.6% on the year
FY2013FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
546
520
485
+5.0%
Cost of revenue
220
220
209
+0.1%
Gross profit
326
301
276
+8.5%
Gross margin
59.8%
57.8%
56.9%
Selling, general and administrative
147
134
128
+9.8%
Operating income
100
86.6
75.9
+15.8%
Operating margin
18.4%
16.6%
15.6%
Interest expense
57.5
51.1
48.5
+12.5%
Pre-tax income
52.7
41.4
31.1
+27.3%
Income tax
15.2
12.7
25.2
+19.2%
Effective tax rate
28.8%
30.7%
81.1%
Net income
37.5
28.7
5.9
+30.9%
Net margin
6.9%
5.5%
1.2%
Diluted EPS
$0.81
$0.63
$0.13
+28.6%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
149
134
112
+11.1%
Capital expenditure
47.0
49.9
45.8
-6.0%
Free cash flow
102
84.0
65.9
+21.3%
Free cash flow margin
18.6%
16.1%
13.6%
Cash from investing
-47.0
-49.9
-45.8
Cash from financing
22.0
-52.5
-97.3
Depreciation and amortisation
80.2
81.2
75.9
-1.2%
Share-based compensation
18.5
17.7
13.3
+4.2%
Buybacks
n/a
6.6
1.8
Dividends paid
113
97.9
81.7
+15.1%
Dividend per share
$2.44
$2.12
$1.80
+15.1%
Diluted shares, weighted
46m
46m
45m
+0.7%
Shares outstanding at period end
47m
46m
46m
+1.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
-204
-149
-103
Debt
798
645
575
+23.7%
Operating lease liabilities
86.7
n/a
n/a
Finance lease liabilities
162
157
n/a
+3.1%
Other liabilities
89.4
86.7
238
+3.1%
Total liabilities and equity
932
740
711
+26.0%
Fixed assets
369
375
381
-1.7%
Cash and equivalents
399
276
247
+44.7%
Receivables
40.5
41.7
39.1
-2.9%
Other assets
123
46.7
43.2
+163.9%
Total assets
932
740
711
+26.0%
10-K for the year ended 31 December 2019, filed 28 February 2020: the filing.