Cogent Communications Holdings (CCOI) FY2023 results: revenue $941 million, up 56.9% on the year
Cogent Communications Holdings, Inc. (CCOI) reported revenue of $941 million for fiscal 2023, the year ended 31 December 2023, up 56.9% on the year before. Net income was $1.3 billion, up 24646.2%, and diluted earnings per share $26.62. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2024.
Revenue
$941 million
+56.9% on the year
FY2016FY2023
Operating margin
-13.7%
19.0% a year earlier
FY2016FY2023
Net income
$1.3 billion
+24,646.2% on the year
FY2016FY2023
Diluted EPS
$26.62
+24,100.0% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
17.3
174
170
-90.0%
Capital expenditure
130
79.0
69.9
+64.2%
Free cash flow
-112
94.7
100
Free cash flow margin
-11.9%
15.8%
17.0%
Cash from investing
76.7
-79.0
-69.9
Cash from financing
-258
-145
-141
Depreciation and amortisation
232
92.2
89.2
+151.8%
Share-based compensation
26.9
24.4
26.8
+10.2%
Dividends paid
182
170
150
+7.0%
Dividend per share
$3.76
$3.56
$3.17
+5.8%
Diluted shares, weighted
48m
47m
47m
+1.3%
Shares outstanding at period end
49m
48m
48m
+1.2%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
610
-519
-373
Debt
950
950
898
0.0%
Operating lease liabilities
330
94.6
112
+249.0%
Finance lease liabilities
420
287
229
+46.3%
Other liabilities
902
197
119
+357.5%
Total liabilities and equity
3,212
1,010
985
+217.9%
Fixed assets
1,538
544
458
+182.5%
Intangible assets
473
n/a
n/a
Cash and equivalents
75.1
224
320
-66.4%
Receivables
135
44.1
41.9
+207.0%
Other assets
990
198
165
+400.6%
Total assets
3,212
1,010
985
+217.9%
10-K for the year ended 31 December 2023, filed 29 February 2024: the filing.