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Side-by-side financial comparison of COGENT COMMUNICATIONS HOLDINGS, INC. (CCOI) and CSW INDUSTRIALS, INC. (CSW). Click either name above to swap in a different company.
COGENT COMMUNICATIONS HOLDINGS, INC. is the larger business by last-quarter revenue ($240.5M vs $233.0M, roughly 1.0× CSW INDUSTRIALS, INC.). CSW INDUSTRIALS, INC. runs the higher net margin — 4.4% vs -12.8%, a 17.2% gap on every dollar of revenue. On growth, CSW INDUSTRIALS, INC. posted the faster year-over-year revenue change (20.3% vs -4.7%). CSW INDUSTRIALS, INC. produced more free cash flow last quarter ($22.7M vs $-43.0M). Over the past eight quarters, CSW INDUSTRIALS, INC.'s revenue compounded faster (5.1% CAGR vs -4.9%).
Cogent Communications Holdings, Inc. is a multinational internet service provider based in the United States. Cogent's primary services consist of Internet access and data transport, offered on a fiber optic, IP data-only network, along with colocation in data centers.
CCOI vs CSW — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $240.5M | $233.0M |
| Net Profit | $-30.8M | $10.3M |
| Gross Margin | 46.6% | 39.7% |
| Operating Margin | -4.7% | 7.4% |
| Net Margin | -12.8% | 4.4% |
| Revenue YoY | -4.7% | 20.3% |
| Net Profit YoY | 28.9% | -61.9% |
| EPS (diluted) | $-0.63 | $0.62 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $240.5M | $233.0M | ||
| Q3 25 | $241.9M | $277.0M | ||
| Q2 25 | $246.2M | $263.6M | ||
| Q1 25 | $247.0M | $230.5M | ||
| Q4 24 | $252.3M | $193.6M | ||
| Q3 24 | $257.2M | $227.9M | ||
| Q2 24 | $260.4M | $226.2M | ||
| Q1 24 | $266.2M | $210.9M |
| Q4 25 | $-30.8M | $10.3M | ||
| Q3 25 | $-41.5M | $40.7M | ||
| Q2 25 | $-57.8M | $40.9M | ||
| Q1 25 | $-52.0M | $35.1M | ||
| Q4 24 | $-43.3M | $26.9M | ||
| Q3 24 | $-63.1M | $36.1M | ||
| Q2 24 | $-32.3M | $38.6M | ||
| Q1 24 | $-65.3M | $31.8M |
| Q4 25 | 46.6% | 39.7% | ||
| Q3 25 | 45.6% | 43.0% | ||
| Q2 25 | 44.2% | 43.8% | ||
| Q1 25 | 44.4% | 44.2% | ||
| Q4 24 | 38.5% | 41.4% | ||
| Q3 24 | 37.2% | 45.6% | ||
| Q2 24 | 40.0% | 47.5% | ||
| Q1 24 | 36.5% | 44.4% |
| Q4 25 | -4.7% | 7.4% | ||
| Q3 25 | -7.5% | 20.5% | ||
| Q2 25 | -12.8% | 20.8% | ||
| Q1 25 | -16.3% | 19.5% | ||
| Q4 24 | -13.2% | 15.3% | ||
| Q3 24 | -22.5% | 22.6% | ||
| Q2 24 | -18.1% | 24.3% | ||
| Q1 24 | -22.3% | 21.0% |
| Q4 25 | -12.8% | 4.4% | ||
| Q3 25 | -17.2% | 14.7% | ||
| Q2 25 | -23.5% | 15.5% | ||
| Q1 25 | -21.1% | 15.2% | ||
| Q4 24 | -17.2% | 13.9% | ||
| Q3 24 | -24.5% | 15.8% | ||
| Q2 24 | -12.4% | 17.1% | ||
| Q1 24 | -24.5% | 15.1% |
| Q4 25 | $-0.63 | $0.62 | ||
| Q3 25 | $-0.87 | $2.41 | ||
| Q2 25 | $-1.21 | $2.43 | ||
| Q1 25 | $-1.09 | $2.05 | ||
| Q4 24 | $-0.89 | $1.60 | ||
| Q3 24 | $-1.33 | $2.26 | ||
| Q2 24 | $-0.68 | $2.47 | ||
| Q1 24 | $-1.38 | $2.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $148.5M | $40.2M |
| Total DebtLower is stronger | $1.7B | — |
| Stockholders' EquityBook value | $-63.8M | $1.1B |
| Total Assets | $3.1B | $2.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $148.5M | $40.2M | ||
| Q3 25 | $147.1M | $31.5M | ||
| Q2 25 | $213.7M | $38.0M | ||
| Q1 25 | $153.8M | $225.8M | ||
| Q4 24 | $198.5M | $213.8M | ||
| Q3 24 | $279.2M | $273.2M | ||
| Q2 24 | $384.4M | $18.9M | ||
| Q1 24 | $118.4M | $22.2M |
| Q4 25 | $1.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $800.1M | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $166.0M |
| Q4 25 | $-63.8M | $1.1B | ||
| Q3 25 | $-39.2M | $1.1B | ||
| Q2 25 | $46.7M | $1.1B | ||
| Q1 25 | $142.8M | $1.1B | ||
| Q4 24 | $222.8M | $1.0B | ||
| Q3 24 | $323.6M | $1.0B | ||
| Q2 24 | $415.5M | $650.2M | ||
| Q1 24 | $500.6M | $615.7M |
| Q4 25 | $3.1B | $2.3B | ||
| Q3 25 | $3.1B | $1.5B | ||
| Q2 25 | $3.3B | $1.5B | ||
| Q1 25 | $3.1B | $1.4B | ||
| Q4 24 | $3.2B | $1.4B | ||
| Q3 24 | $3.2B | $1.4B | ||
| Q2 24 | $3.3B | $1.1B | ||
| Q1 24 | $3.1B | $1.0B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | 6.53× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.27× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-6.0M | $28.9M |
| Free Cash FlowOCF − Capex | $-43.0M | $22.7M |
| FCF MarginFCF / Revenue | -17.9% | 9.8% |
| Capex IntensityCapex / Revenue | 15.4% | 2.6% |
| Cash ConversionOCF / Net Profit | — | 2.81× |
| TTM Free Cash FlowTrailing 4 quarters | $-198.1M | $162.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.0M | $28.9M | ||
| Q3 25 | $3.1M | $61.8M | ||
| Q2 25 | $-44.0M | $60.6M | ||
| Q1 25 | $36.4M | $27.3M | ||
| Q4 24 | $14.5M | $11.6M | ||
| Q3 24 | $-20.2M | $66.8M | ||
| Q2 24 | $-22.2M | $62.7M | ||
| Q1 24 | $19.2M | $22.4M |
| Q4 25 | $-43.0M | $22.7M | ||
| Q3 25 | $-33.1M | $58.7M | ||
| Q2 25 | $-100.2M | $57.7M | ||
| Q1 25 | $-21.7M | $22.8M | ||
| Q4 24 | $-31.6M | $8.5M | ||
| Q3 24 | $-79.5M | $61.3M | ||
| Q2 24 | $-70.9M | $59.6M | ||
| Q1 24 | $-21.7M | $17.5M |
| Q4 25 | -17.9% | 9.8% | ||
| Q3 25 | -13.7% | 21.2% | ||
| Q2 25 | -40.7% | 21.9% | ||
| Q1 25 | -8.8% | 9.9% | ||
| Q4 24 | -12.5% | 4.4% | ||
| Q3 24 | -30.9% | 26.9% | ||
| Q2 24 | -27.2% | 26.3% | ||
| Q1 24 | -8.1% | 8.3% |
| Q4 25 | 15.4% | 2.6% | ||
| Q3 25 | 15.0% | 1.1% | ||
| Q2 25 | 22.8% | 1.1% | ||
| Q1 25 | 23.5% | 2.0% | ||
| Q4 24 | 18.3% | 1.6% | ||
| Q3 24 | 23.0% | 2.4% | ||
| Q2 24 | 18.7% | 1.4% | ||
| Q1 24 | 15.4% | 2.3% |
| Q4 25 | — | 2.81× | ||
| Q3 25 | — | 1.52× | ||
| Q2 25 | — | 1.48× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 0.43× | ||
| Q3 24 | — | 1.85× | ||
| Q2 24 | — | 1.62× | ||
| Q1 24 | — | 0.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CCOI
Segment breakdown not available.
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
