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Side-by-side financial comparison of COGENT COMMUNICATIONS HOLDINGS, INC. (CCOI) and GCM Grosvenor Inc. (GCMG). 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 $177.1M, roughly 1.4× GCM Grosvenor Inc.). GCM Grosvenor Inc. runs the higher net margin — 32.8% vs -12.8%, a 45.6% gap on every dollar of revenue. On growth, GCM Grosvenor Inc. posted the faster year-over-year revenue change (7.2% vs -4.7%). GCM Grosvenor Inc. produced more free cash flow last quarter ($175.0M vs $-43.0M). Over the past eight quarters, GCM Grosvenor Inc.'s revenue compounded faster (27.5% 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.
GCM Grosvenor is an American alternative asset management firm, with approximately $76 billion in assets under management and approximately 530 professionals as of 2023.
CCOI vs GCMG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $240.5M | $177.1M |
| Net Profit | $-30.8M | $58.2M |
| Gross Margin | 46.6% | — |
| Operating Margin | -4.7% | 30.9% |
| Net Margin | -12.8% | 32.8% |
| Revenue YoY | -4.7% | 7.2% |
| Net Profit YoY | 28.9% | 149.2% |
| EPS (diluted) | $-0.63 | $0.23 |
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 | $177.1M | ||
| Q3 25 | $241.9M | $135.0M | ||
| Q2 25 | $246.2M | $119.7M | ||
| Q1 25 | $247.0M | $125.8M | ||
| Q4 24 | $252.3M | $165.3M | ||
| Q3 24 | $257.2M | $122.9M | ||
| Q2 24 | $260.4M | $117.0M | ||
| Q1 24 | $266.2M | $108.9M |
| Q4 25 | $-30.8M | $58.2M | ||
| Q3 25 | $-41.5M | $10.5M | ||
| Q2 25 | $-57.8M | $15.4M | ||
| Q1 25 | $-52.0M | $463.0K | ||
| Q4 24 | $-43.3M | $7.6M | ||
| Q3 24 | $-63.1M | $4.2M | ||
| Q2 24 | $-32.3M | $4.8M | ||
| Q1 24 | $-65.3M | $2.1M |
| 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% | 30.9% | ||
| Q3 25 | -7.5% | 32.7% | ||
| Q2 25 | -12.8% | 16.1% | ||
| Q1 25 | -16.3% | 12.2% | ||
| Q4 24 | -13.2% | 26.4% | ||
| Q3 24 | -22.5% | 20.3% | ||
| Q2 24 | -18.1% | 17.8% | ||
| Q1 24 | -22.3% | -14.7% |
| Q4 25 | -12.8% | 32.8% | ||
| Q3 25 | -17.2% | 7.8% | ||
| Q2 25 | -23.5% | 12.9% | ||
| Q1 25 | -21.1% | 0.4% | ||
| Q4 24 | -17.2% | 4.6% | ||
| Q3 24 | -24.5% | 3.4% | ||
| Q2 24 | -12.4% | 4.1% | ||
| Q1 24 | -24.5% | 2.0% |
| Q4 25 | $-0.63 | $0.23 | ||
| Q3 25 | $-0.87 | $0.16 | ||
| Q2 25 | $-1.21 | $0.05 | ||
| Q1 25 | $-1.09 | $-0.02 | ||
| Q4 24 | $-0.89 | $0.09 | ||
| Q3 24 | $-1.33 | $0.03 | ||
| Q2 24 | $-0.68 | $0.04 | ||
| Q1 24 | $-1.38 | $-0.13 |
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 | $242.1M |
| Total DebtLower is stronger | $1.7B | $428.4M |
| Stockholders' EquityBook value | $-63.8M | $27.0M |
| Total Assets | $3.1B | $813.8M |
| Debt / EquityLower = less leverage | — | 15.87× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $148.5M | $242.1M | ||
| Q3 25 | $147.1M | $182.7M | ||
| Q2 25 | $213.7M | $136.3M | ||
| Q1 25 | $153.8M | $94.5M | ||
| Q4 24 | $198.5M | $89.5M | ||
| Q3 24 | $279.2M | $98.4M | ||
| Q2 24 | $384.4M | $73.9M | ||
| Q1 24 | $118.4M | $41.9M |
| Q4 25 | $1.7B | $428.4M | ||
| Q3 25 | — | $429.3M | ||
| Q2 25 | — | $430.2M | ||
| Q1 25 | — | $431.1M | ||
| Q4 24 | $1.5B | $432.0M | ||
| Q3 24 | — | $432.9M | ||
| Q2 24 | — | $433.8M | ||
| Q1 24 | — | $384.0M |
| Q4 25 | $-63.8M | $27.0M | ||
| Q3 25 | $-39.2M | $-7.4M | ||
| Q2 25 | $46.7M | $-12.3M | ||
| Q1 25 | $142.8M | $-28.3M | ||
| Q4 24 | $222.8M | $-27.6M | ||
| Q3 24 | $323.6M | $-31.9M | ||
| Q2 24 | $415.5M | $-28.5M | ||
| Q1 24 | $500.6M | $-26.4M |
| Q4 25 | $3.1B | $813.8M | ||
| Q3 25 | $3.1B | $685.9M | ||
| Q2 25 | $3.3B | $636.9M | ||
| Q1 25 | $3.1B | $579.8M | ||
| Q4 24 | $3.2B | $612.7M | ||
| Q3 24 | $3.2B | $575.0M | ||
| Q2 24 | $3.3B | $543.9M | ||
| Q1 24 | $3.1B | $497.3M |
| Q4 25 | — | 15.87× | ||
| 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 | $183.5M |
| Free Cash FlowOCF − Capex | $-43.0M | $175.0M |
| FCF MarginFCF / Revenue | -17.9% | 98.8% |
| Capex IntensityCapex / Revenue | 15.4% | 4.8% |
| Cash ConversionOCF / Net Profit | — | 3.16× |
| TTM Free Cash FlowTrailing 4 quarters | $-198.1M | $326.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.0M | $183.5M | ||
| Q3 25 | $3.1M | $79.8M | ||
| Q2 25 | $-44.0M | $42.0M | ||
| Q1 25 | $36.4M | $33.3M | ||
| Q4 24 | $14.5M | $148.8M | ||
| Q3 24 | $-20.2M | $69.0M | ||
| Q2 24 | $-22.2M | $17.5M | ||
| Q1 24 | $19.2M | $24.2M |
| Q4 25 | $-43.0M | $175.0M | ||
| Q3 25 | $-33.1M | $78.3M | ||
| Q2 25 | $-100.2M | $40.8M | ||
| Q1 25 | $-21.7M | $32.1M | ||
| Q4 24 | $-31.6M | $132.0M | ||
| Q3 24 | $-79.5M | $62.2M | ||
| Q2 24 | $-70.9M | $12.8M | ||
| Q1 24 | $-21.7M | $20.0M |
| Q4 25 | -17.9% | 98.8% | ||
| Q3 25 | -13.7% | 58.0% | ||
| Q2 25 | -40.7% | 34.1% | ||
| Q1 25 | -8.8% | 25.5% | ||
| Q4 24 | -12.5% | 79.9% | ||
| Q3 24 | -30.9% | 50.6% | ||
| Q2 24 | -27.2% | 10.9% | ||
| Q1 24 | -8.1% | 18.4% |
| Q4 25 | 15.4% | 4.8% | ||
| Q3 25 | 15.0% | 1.1% | ||
| Q2 25 | 22.8% | 1.0% | ||
| Q1 25 | 23.5% | 0.9% | ||
| Q4 24 | 18.3% | 10.1% | ||
| Q3 24 | 23.0% | 5.5% | ||
| Q2 24 | 18.7% | 4.0% | ||
| Q1 24 | 15.4% | 3.9% |
| Q4 25 | — | 3.16× | ||
| Q3 25 | — | 7.61× | ||
| Q2 25 | — | 2.72× | ||
| Q1 25 | — | 71.84× | ||
| Q4 24 | — | 19.54× | ||
| Q3 24 | — | 16.60× | ||
| Q2 24 | — | 3.64× | ||
| Q1 24 | — | 11.40× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CCOI
Segment breakdown not available.
GCMG
| Asset Management1 | $108.6M | 61% |
| Management Service Incentive Performance Fees | $61.7M | 35% |
| Management Service Incentive Carried Interest | $5.1M | 3% |
| Service Other | $1.8M | 1% |
