vs
Side-by-side financial comparison of COGENT COMMUNICATIONS HOLDINGS, INC. (CCOI) and Gaming & Leisure Properties, Inc. (GLPI). Click either name above to swap in a different company.
Gaming & Leisure Properties, Inc. is the larger business by last-quarter revenue ($420.0M vs $240.5M, roughly 1.7× COGENT COMMUNICATIONS HOLDINGS, INC.). Gaming & Leisure Properties, Inc. runs the higher net margin — 57.0% vs -12.8%, a 69.8% gap on every dollar of revenue. On growth, Gaming & Leisure Properties, Inc. posted the faster year-over-year revenue change (6.3% vs -4.7%). Over the past eight quarters, Gaming & Leisure Properties, Inc.'s revenue compounded faster (5.0% 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.
Gaming and Leisure Properties, Inc. is a real estate investment trust (REIT) specializing in casino properties, based in Wyomissing, Pennsylvania. It was formed in November 2013 as a corporate spin-off from Penn National Gaming. The company owns 62 casino properties, all of which are leased to other companies.
CCOI vs GLPI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $240.5M | $420.0M |
| Net Profit | $-30.8M | $239.4M |
| Gross Margin | 46.6% | — |
| Operating Margin | -4.7% | 79.4% |
| Net Margin | -12.8% | 57.0% |
| Revenue YoY | -4.7% | 6.3% |
| Net Profit YoY | 28.9% | 40.5% |
| EPS (diluted) | $-0.63 | — |
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.
| Q1 26 | — | $420.0M | ||
| Q4 25 | $240.5M | $407.0M | ||
| Q3 25 | $241.9M | $397.6M | ||
| Q2 25 | $246.2M | $394.9M | ||
| Q1 25 | $247.0M | $395.2M | ||
| Q4 24 | $252.3M | $389.6M | ||
| Q3 24 | $257.2M | $385.3M | ||
| Q2 24 | $260.4M | $380.6M |
| Q1 26 | — | $239.4M | ||
| Q4 25 | $-30.8M | $275.4M | ||
| Q3 25 | $-41.5M | $241.2M | ||
| Q2 25 | $-57.8M | $151.4M | ||
| Q1 25 | $-52.0M | $165.2M | ||
| Q4 24 | $-43.3M | $223.6M | ||
| Q3 24 | $-63.1M | $184.7M | ||
| Q2 24 | $-32.3M | $208.3M |
| Q1 26 | — | — | ||
| 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 26 | — | 79.4% | ||
| Q4 25 | -4.7% | 89.3% | ||
| Q3 25 | -7.5% | 84.8% | ||
| Q2 25 | -12.8% | 61.3% | ||
| Q1 25 | -16.3% | 65.5% | ||
| Q4 24 | -13.2% | 79.1% | ||
| Q3 24 | -22.5% | 70.4% | ||
| Q2 24 | -18.1% | 77.1% |
| Q1 26 | — | 57.0% | ||
| Q4 25 | -12.8% | 67.6% | ||
| Q3 25 | -17.2% | 60.7% | ||
| Q2 25 | -23.5% | 38.4% | ||
| Q1 25 | -21.1% | 41.8% | ||
| Q4 24 | -17.2% | 57.4% | ||
| Q3 24 | -24.5% | 47.9% | ||
| Q2 24 | -12.4% | 54.7% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.63 | $0.96 | ||
| Q3 25 | $-0.87 | $0.85 | ||
| Q2 25 | $-1.21 | $0.54 | ||
| Q1 25 | $-1.09 | $0.60 | ||
| Q4 24 | $-0.89 | $0.79 | ||
| Q3 24 | $-1.33 | $0.67 | ||
| Q2 24 | $-0.68 | $0.77 |
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 | $274.5M |
| Total DebtLower is stronger | $1.7B | — |
| Stockholders' EquityBook value | $-63.8M | $5.0B |
| Total Assets | $3.1B | $13.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $274.5M | ||
| Q4 25 | $148.5M | — | ||
| Q3 25 | $147.1M | — | ||
| Q2 25 | $213.7M | — | ||
| Q1 25 | $153.8M | — | ||
| Q4 24 | $198.5M | $560.8M | ||
| Q3 24 | $279.2M | $560.8M | ||
| Q2 24 | $384.4M | $560.8M |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $7.2B | ||
| Q3 25 | — | $7.2B | ||
| Q2 25 | — | $6.9B | ||
| Q1 25 | — | $6.9B | ||
| Q4 24 | $1.5B | $7.7B | ||
| Q3 24 | — | $7.4B | ||
| Q2 24 | — | $6.6B |
| Q1 26 | — | $5.0B | ||
| Q4 25 | $-63.8M | $4.6B | ||
| Q3 25 | $-39.2M | $4.6B | ||
| Q2 25 | $46.7M | $4.6B | ||
| Q1 25 | $142.8M | $4.2B | ||
| Q4 24 | $222.8M | $4.3B | ||
| Q3 24 | $323.6M | $4.3B | ||
| Q2 24 | $415.5M | $4.1B |
| Q1 26 | — | $13.8B | ||
| Q4 25 | $3.1B | $12.9B | ||
| Q3 25 | $3.1B | $12.8B | ||
| Q2 25 | $3.3B | $12.5B | ||
| Q1 25 | $3.1B | $12.1B | ||
| Q4 24 | $3.2B | $13.1B | ||
| Q3 24 | $3.2B | $12.7B | ||
| Q2 24 | $3.3B | $11.8B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.56× | ||
| Q3 25 | — | 1.57× | ||
| Q2 25 | — | 1.51× | ||
| Q1 25 | — | 1.63× | ||
| Q4 24 | 6.53× | 1.81× | ||
| Q3 24 | — | 1.74× | ||
| Q2 24 | — | 1.60× |
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 | — |
| Free Cash FlowOCF − Capex | $-43.0M | — |
| FCF MarginFCF / Revenue | -17.9% | — |
| Capex IntensityCapex / Revenue | 15.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-198.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-6.0M | $1.1B | ||
| Q3 25 | $3.1M | $240.3M | ||
| Q2 25 | $-44.0M | $293.4M | ||
| Q1 25 | $36.4M | $252.5M | ||
| Q4 24 | $14.5M | $1.1B | ||
| Q3 24 | $-20.2M | $270.4M | ||
| Q2 24 | $-22.2M | $252.1M |
| Q1 26 | — | — | ||
| Q4 25 | $-43.0M | — | ||
| Q3 25 | $-33.1M | $183.0M | ||
| Q2 25 | $-100.2M | $272.3M | ||
| Q1 25 | $-21.7M | $239.6M | ||
| Q4 24 | $-31.6M | $1.1B | ||
| Q3 24 | $-79.5M | $261.5M | ||
| Q2 24 | $-70.9M | $245.0M |
| Q1 26 | — | — | ||
| Q4 25 | -17.9% | — | ||
| Q3 25 | -13.7% | 46.0% | ||
| Q2 25 | -40.7% | 69.0% | ||
| Q1 25 | -8.8% | 60.6% | ||
| Q4 24 | -12.5% | 275.3% | ||
| Q3 24 | -30.9% | 67.9% | ||
| Q2 24 | -27.2% | 64.4% |
| Q1 26 | — | — | ||
| Q4 25 | 15.4% | — | ||
| Q3 25 | 15.0% | 14.4% | ||
| Q2 25 | 22.8% | 5.3% | ||
| Q1 25 | 23.5% | 3.3% | ||
| Q4 24 | 18.3% | 0.0% | ||
| Q3 24 | 23.0% | 2.3% | ||
| Q2 24 | 18.7% | 1.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.10× | ||
| Q3 25 | — | 1.00× | ||
| Q2 25 | — | 1.94× | ||
| Q1 25 | — | 1.53× | ||
| Q4 24 | — | 4.80× | ||
| Q3 24 | — | 1.46× | ||
| Q2 24 | — | 1.21× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
