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Side-by-side financial comparison of COGENT COMMUNICATIONS HOLDINGS, INC. (CCOI) and Fat Brands, Inc (FAT). 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 $140.0M, roughly 1.7× Fat Brands, Inc). COGENT COMMUNICATIONS HOLDINGS, INC. runs the higher net margin — -12.8% vs -41.6%, a 28.8% gap on every dollar of revenue. On growth, Fat Brands, Inc posted the faster year-over-year revenue change (-2.3% vs -4.7%). Fat Brands, Inc produced more free cash flow last quarter ($-16.9M vs $-43.0M). Over the past eight quarters, COGENT COMMUNICATIONS HOLDINGS, INC.'s revenue compounded faster (-4.9% CAGR vs -6.1%).
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.
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
CCOI vs FAT — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $240.5M | $140.0M |
| Net Profit | $-30.8M | $-58.2M |
| Gross Margin | 46.6% | — |
| Operating Margin | -4.7% | -12.4% |
| Net Margin | -12.8% | -41.6% |
| Revenue YoY | -4.7% | -2.3% |
| Net Profit YoY | 28.9% | -30.1% |
| EPS (diluted) | $-0.63 | $-3.39 |
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 | — | ||
| Q3 25 | $241.9M | $140.0M | ||
| Q2 25 | $246.2M | $146.8M | ||
| Q1 25 | $247.0M | $142.0M | ||
| Q4 24 | $252.3M | $145.3M | ||
| Q3 24 | $257.2M | $143.4M | ||
| Q2 24 | $260.4M | $152.0M | ||
| Q1 24 | $266.2M | $152.0M |
| Q4 25 | $-30.8M | — | ||
| Q3 25 | $-41.5M | $-58.2M | ||
| Q2 25 | $-57.8M | $-54.2M | ||
| Q1 25 | $-52.0M | $-46.0M | ||
| Q4 24 | $-43.3M | $-67.4M | ||
| Q3 24 | $-63.1M | $-44.8M | ||
| Q2 24 | $-32.3M | $-39.4M | ||
| Q1 24 | $-65.3M | $-38.3M |
| Q4 25 | 46.6% | — | ||
| Q3 25 | 45.6% | — | ||
| Q2 25 | 44.2% | — | ||
| Q1 25 | 44.4% | — | ||
| Q4 24 | 38.5% | — | ||
| Q3 24 | 37.2% | — | ||
| Q2 24 | 40.0% | — | ||
| Q1 24 | 36.5% | — |
| Q4 25 | -4.7% | — | ||
| Q3 25 | -7.5% | -12.4% | ||
| Q2 25 | -12.8% | -10.6% | ||
| Q1 25 | -16.3% | -6.0% | ||
| Q4 24 | -13.2% | -27.1% | ||
| Q3 24 | -22.5% | -6.2% | ||
| Q2 24 | -18.1% | -1.8% | ||
| Q1 24 | -22.3% | -0.9% |
| Q4 25 | -12.8% | — | ||
| Q3 25 | -17.2% | -41.6% | ||
| Q2 25 | -23.5% | -36.9% | ||
| Q1 25 | -21.1% | -32.4% | ||
| Q4 24 | -17.2% | -46.4% | ||
| Q3 24 | -24.5% | -31.2% | ||
| Q2 24 | -12.4% | -25.9% | ||
| Q1 24 | -24.5% | -25.2% |
| Q4 25 | $-0.63 | — | ||
| Q3 25 | $-0.87 | $-3.39 | ||
| Q2 25 | $-1.21 | $-3.17 | ||
| Q1 25 | $-1.09 | $-2.73 | ||
| Q4 24 | $-0.89 | $-4.06 | ||
| Q3 24 | $-1.33 | $-2.74 | ||
| Q2 24 | $-0.68 | $-2.43 | ||
| Q1 24 | $-1.38 | $-2.37 |
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 | — |
| Total DebtLower is stronger | $1.7B | $1.3B |
| Stockholders' EquityBook value | $-63.8M | $-585.8M |
| Total Assets | $3.1B | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $148.5M | — | ||
| Q3 25 | $147.1M | — | ||
| Q2 25 | $213.7M | — | ||
| Q1 25 | $153.8M | — | ||
| Q4 24 | $198.5M | — | ||
| Q3 24 | $279.2M | — | ||
| Q2 24 | $384.4M | — | ||
| Q1 24 | $118.4M | — |
| Q4 25 | $1.7B | — | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | $1.5B | $1.3B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.2B |
| Q4 25 | $-63.8M | — | ||
| Q3 25 | $-39.2M | $-585.8M | ||
| Q2 25 | $46.7M | $-536.5M | ||
| Q1 25 | $142.8M | $-493.9M | ||
| Q4 24 | $222.8M | $-455.7M | ||
| Q3 24 | $323.6M | $-386.1M | ||
| Q2 24 | $415.5M | $-338.6M | ||
| Q1 24 | $500.6M | $-296.8M |
| Q4 25 | $3.1B | — | ||
| Q3 25 | $3.1B | $1.2B | ||
| Q2 25 | $3.3B | $1.2B | ||
| Q1 25 | $3.1B | $1.3B | ||
| Q4 24 | $3.2B | $1.3B | ||
| Q3 24 | $3.2B | $1.3B | ||
| Q2 24 | $3.3B | $1.4B | ||
| Q1 24 | $3.1B | $1.4B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 6.53× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-14.5M |
| Free Cash FlowOCF − Capex | $-43.0M | $-16.9M |
| FCF MarginFCF / Revenue | -17.9% | -12.1% |
| Capex IntensityCapex / Revenue | 15.4% | 1.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-198.1M | $-75.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.0M | — | ||
| Q3 25 | $3.1M | $-14.5M | ||
| Q2 25 | $-44.0M | $-26.9M | ||
| Q1 25 | $36.4M | $-13.2M | ||
| Q4 24 | $14.5M | $-10.4M | ||
| Q3 24 | $-20.2M | $-3.2M | ||
| Q2 24 | $-22.2M | $-14.2M | ||
| Q1 24 | $19.2M | $-28.4M |
| Q4 25 | $-43.0M | — | ||
| Q3 25 | $-33.1M | $-16.9M | ||
| Q2 25 | $-100.2M | $-29.3M | ||
| Q1 25 | $-21.7M | $-17.8M | ||
| Q4 24 | $-31.6M | $-11.0M | ||
| Q3 24 | $-79.5M | $-11.1M | ||
| Q2 24 | $-70.9M | $-24.4M | ||
| Q1 24 | $-21.7M | $-32.5M |
| Q4 25 | -17.9% | — | ||
| Q3 25 | -13.7% | -12.1% | ||
| Q2 25 | -40.7% | -20.0% | ||
| Q1 25 | -8.8% | -12.5% | ||
| Q4 24 | -12.5% | -7.6% | ||
| Q3 24 | -30.9% | -7.7% | ||
| Q2 24 | -27.2% | -16.1% | ||
| Q1 24 | -8.1% | -21.4% |
| Q4 25 | 15.4% | — | ||
| Q3 25 | 15.0% | 1.7% | ||
| Q2 25 | 22.8% | 1.6% | ||
| Q1 25 | 23.5% | 3.2% | ||
| Q4 24 | 18.3% | 0.4% | ||
| Q3 24 | 23.0% | 5.5% | ||
| Q2 24 | 18.7% | 6.7% | ||
| Q1 24 | 15.4% | 2.7% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CCOI
Segment breakdown not available.
FAT
| Restaurant Sales | $96.6M | 69% |
| Royalty | $21.6M | 15% |
| Factory | $9.6M | 7% |
| Advertising | $9.1M | 7% |
| Franchisor | $1.5M | 1% |
| Other | $1.5M | 1% |
