Cogent Communications Holdings (CCOI) FY2020 results: revenue $568 million, up 4.0% on the year
Cogent Communications Holdings, Inc. (CCOI) reported revenue of $568 million for fiscal 2020, the year ended 31 December 2020, up 4.0% on the year before. Net income was $6 million, down 83.4%, and diluted earnings per share $0.13. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$568 million
+4.0% on the year
FY2013FY2020
Operating margin
18.8%
18.4% a year earlier
FY2013FY2020
Net income
$6 million
-83.4% on the year
FY2013FY2020
Diluted EPS
$0.13
-84.0% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
568
546
520
+4.0%
Cost of revenue
219
220
220
-0.3%
Gross profit
349
326
301
+6.9%
Gross margin
61.4%
59.8%
57.8%
Selling, general and administrative
158
147
134
+7.9%
Operating income
107
100
86.6
+6.6%
Operating margin
18.8%
18.4%
16.6%
Interest expense
62.5
57.5
51.1
+8.8%
Pre-tax income
10.3
52.7
41.4
-80.4%
Income tax
4.1
15.2
12.7
-73.0%
Effective tax rate
39.7%
28.8%
30.7%
Net income
6.2
37.5
28.7
-83.4%
Net margin
1.1%
6.9%
5.5%
Diluted EPS
$0.13
$0.81
$0.63
-84.0%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
140
149
134
-5.7%
Capital expenditure
56.0
47.0
49.9
+19.2%
Free cash flow
84.4
102
84.0
-17.2%
Free cash flow margin
14.9%
18.6%
16.1%
Cash from investing
-56.0
-47.0
-49.9
Cash from financing
-116
22.0
-52.5
Depreciation and amortisation
83.5
80.2
81.2
+4.0%
Share-based compensation
23.5
18.5
17.7
+27.4%
Buybacks
4.5
n/a
6.6
Dividends paid
129
113
97.9
+14.9%
Dividend per share
$2.78
$2.44
$2.12
+13.9%
Diluted shares, weighted
47m
46m
46m
+1.3%
Shares outstanding at period end
47m
47m
46m
+0.8%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
-293
-204
-149
Debt
882
798
645
+10.5%
Operating lease liabilities
111
86.7
n/a
+28.4%
Finance lease liabilities
203
162
157
+25.9%
Other liabilities
96.9
89.4
86.7
+8.5%
Total liabilities and equity
1,000
932
740
+7.3%
Fixed assets
430
369
375
+16.6%
Cash and equivalents
371
399
276
-7.0%
Receivables
44.2
40.5
41.7
+9.1%
Other assets
155
123
46.7
+25.4%
Total assets
1,000
932
740
+7.3%
10-K for the year ended 31 December 2020, filed 26 February 2021: the filing.