Stock fact sheet · data as of
Cogent Communications Holdings, Inc. (CCOI): fair value, margin of safety and Wheel Score
Ticker symbol CCOI · Communication Services · Telecommunications Services · United States · Speculative
Is CCOI undervalued?
CCOI has a margin of safety of 99%: the stock closed at 6.79 on 5 Nov 2026 against a GLS average fair value of 930.81. 1 of the 2 valuation models that produced a number sit above the price. Our scans treat a discount this large as a strong starting point for a cash-secured put, not as a verdict - the fair value is a model output, and a wide gap can mean the models are missing something the market knows.
Only 2 of the nine models produced a value (DCF, DDM); the others need a dividend, positive free cash flow or positive book value the company does not have yet, so the average rests on a narrow base.
The nightly engine files CCOI under Speculative - it is losing money or its Piotroski health score is 3 or lower - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan.
Nine valuation models for CCOI
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 1,860.44 | +27300% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | - | - | The most a defensive investor pays for the earnings and book value per share; no value tonight |
| Graham Growth | - | - | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields; no value tonight |
| Lynch | - | - | EPS × the earnings growth rate (PEG of 1), growth capped at 25%; no value tonight |
| GLS Growth | - | - | EPS compounded ten years at the blended growth rate, discounted back at 15% a year; no value tonight |
| 10 Cap | - | - | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10%; no value tonight |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | 1.18 | -83% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | - | - | Earnings power value: current EPS capitalised at 9% with no growth; no value tonight |
| Zombie (liquidation) | -52.97 | -880% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 16.40 | +142% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is average - CCOI passes 5 of the nine Piotroski tests, which falls one point short of the "Piotroski 6 or more" Wheel Trade Filter. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is low at 4.1 out of 10: returns on capital, margins or the balance sheet have not shown a lasting edge yet - often a young company, a thin-margin business or one that has only recently turned profitable.
Returns on capital are thin or negative - ROIC -6.4%, ROE 285.3%, ROA -5.9% - with debt at -45.91 times equity and negative free cash flow.
The dividend yield is 1.18% with a payout ratio of -65% - a small yield that leaves most of the earnings in the business. Revenue comes mainly from On net 58%, Off net 36%, Wavelength Services 6% (quarter Q2 FY2026).
Institutional ownership scores 10/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales; the last recorded insider buy was on 30 Sep 2026.
| Piotroski F-score | 5 / 9 | ROIC | -6.4% |
|---|---|---|---|
| GLS Moat | 4.1 / 10 | ROE | 285.3% |
| Debt / equity | -45.91 | ROA | -5.9% |
| Free-cash-flow yield | -41.1% | Payout ratio | -65% |
| Institutions | 10 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 32: Weak
CCOI scores 32 out of 100 on the Wheel Score, in the Weak band (under 50): it fails filter 2, a real business, not a gamble - speculative (a loss, or a weak Piotroski score); and filter 4, financially healthy - Piotroski 5/9 (under 6); and filter 5, can repay its debt - debt with no positive cash flow to repay it; and filter 7, a premium worth selling - implied volatility 158% (over 80%); and filter 8, big enough - market cap $348M (under $1.0B), and the parts are thin too - value strong, premium weak, moat fair, health fair, red flags fair, option trading weak, stability fair. The score is not a judgement on the company; it says the price, quality and premium do not line up for selling puts on it today.
Implied volatility is 158%, above the 80% ceiling of the Wheel Trade Filter on premium. The premium looks generous, but moves of that size can blow through any strike. Chain open interest is 5,586 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 3.2M shares a day on a market cap of $348M, with a beta of 0.77 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Fails | speculative (a loss, or a weak Piotroski score) |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Fails | Piotroski 5/9 (under 6) |
| 5 | Can repay its debt | Fails | debt with no positive cash flow to repay it |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Fails | implied volatility 158% (over 80%) |
| 8 | Big enough | Fails | market cap $348M (under $1.0B) |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 99% below fair value | |
| Premium | Weak | implied volatility 158% | |
| Moat | Fair | moat 4.1/10 | |
| Health | Fair | Piotroski 5/9 | |
| Red Flags | Fair | Red Flags score 72/100 | |
| Option trading | Weak | 633 contracts a day, 5,586 open interest | |
| Stability | Fair | beta 0.77, $348M company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
Cogent Communications Holdings, Inc. reports earnings on 5 Nov 2026 (before the open) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Telecommunications Services
The 12 companies below are the closest to Cogent Communications Holdings, Inc. by market cap within the Telecommunications Services industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| GOGO Gogo Inc. | 2.53 | 14.49 | +83% | 35Weak | $343M |
| TMUSZ T-Mobile US, Inc. 5.5 % Notes 2025-01.03.70 | 18.28 | 127.07 | +86% | 26No options | $366M |
| ATNI ATN International, Inc. | 25.79 | 85.52 | +70% | 48Weak | $397M |
| LICT LICT Corporation | 12,200.00 | 8,752.47 | -39% | 20No options | $234M |
| OOMA Ooma, Inc. | 19.01 | 16.48 | -15% | 33Weak | $525M |
| SHEN Shenandoah Telecommunications Company | 10.39 | 1.77 | -488% | 20Weak | $575M |
| TSAT Telesat Corporation | 39.46 | - | - | 13Weak | $596M |
| OPTU Optimum Communications, Inc. | 0.6843 | 15.49 | +96% | 30Weak | $187M |
| CXDO Crexendo, Inc. | 5.24 | 5.73 | +9% | 37Weak | $174M |
| RDCM RADCOM Ltd. | 10.17 | 12.37 | +18% | 35Weak | $170M |
| CHTRP Charter Communications, Inc. Series A Cumulative Redeemable Preferred Stock | 21.95 | 534.93 | +96% | 26No options | $158M |
| GLIBB Liberty Capital Corporation | 23.00 | 18.49 | -24% | 14No options | $919M |
⚖ Compare CCOI with 7 of them All Communication Services stocks →
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Start free See the Sunday ScanQuestions about CCOI
Is CCOI undervalued right now?
By the GLS models, yes: at 6.79 the stock is 99% below the average fair value of 930.81 (data as of 5 Nov 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of CCOI and what does it mean?
CCOI scores 32 out of 100 (Weak) - it fails Wheel Trade Filters 2, 4, 5, 7, 8. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for CCOI?
930.81 per share as of 5 Nov 2026 - the simple average of the 2 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Cogent Communications Holdings, Inc. report earnings next?
The next earnings report is due on 5 Nov 2026 (before the open), 0 days from the data date of 5 Nov 2026. The Calendars page lists every upcoming report with its time of day.
Does CCOI have listed options, and how liquid are they?
Yes. The nightly snapshot found 12 listed contracts with 5,586 open interest across all expiries and implied volatility of 158% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.