vs
Side-by-side financial comparison of COGENT COMMUNICATIONS HOLDINGS, INC. (CCOI) and Mayville Engineering Company, Inc. (MEC). 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 $134.3M, roughly 1.8× Mayville Engineering Company, Inc.). Mayville Engineering Company, Inc. runs the higher net margin — -3.2% vs -12.8%, a 9.6% gap on every dollar of revenue. On growth, Mayville Engineering Company, Inc. posted the faster year-over-year revenue change (10.7% vs -4.7%). Mayville Engineering Company, Inc. produced more free cash flow last quarter ($10.2M vs $-43.0M). Over the past eight quarters, COGENT COMMUNICATIONS HOLDINGS, INC.'s revenue compounded faster (-4.9% CAGR vs -8.8%).
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.
Mayville Engineering Company, Inc. is a U.S.-headquartered leading manufacturer of metal components, fabricated assemblies, and custom engineered solutions. It serves OEM clients across agriculture, construction, transportation, defense, and power sports markets, offering end-to-end services from prototyping to high-volume production for North America.
CCOI vs MEC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $240.5M | $134.3M |
| Net Profit | $-30.8M | $-4.4M |
| Gross Margin | 46.6% | 6.8% |
| Operating Margin | -4.7% | -4.1% |
| Net Margin | -12.8% | -3.2% |
| Revenue YoY | -4.7% | 10.7% |
| Net Profit YoY | 28.9% | -127.3% |
| EPS (diluted) | $-0.63 | $-0.22 |
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 | $134.3M | ||
| Q3 25 | $241.9M | $144.3M | ||
| Q2 25 | $246.2M | $132.3M | ||
| Q1 25 | $247.0M | $135.6M | ||
| Q4 24 | $252.3M | $121.3M | ||
| Q3 24 | $257.2M | $135.4M | ||
| Q2 24 | $260.4M | $163.6M | ||
| Q1 24 | $266.2M | $161.3M |
| Q4 25 | $-30.8M | $-4.4M | ||
| Q3 25 | $-41.5M | $-2.7M | ||
| Q2 25 | $-57.8M | $-1.1M | ||
| Q1 25 | $-52.0M | $20.0K | ||
| Q4 24 | $-43.3M | $16.0M | ||
| Q3 24 | $-63.1M | $3.0M | ||
| Q2 24 | $-32.3M | $3.8M | ||
| Q1 24 | $-65.3M | $3.2M |
| Q4 25 | 46.6% | 6.8% | ||
| Q3 25 | 45.6% | 11.0% | ||
| Q2 25 | 44.2% | 10.3% | ||
| Q1 25 | 44.4% | 11.3% | ||
| Q4 24 | 38.5% | 8.9% | ||
| Q3 24 | 37.2% | 12.6% | ||
| Q2 24 | 40.0% | 13.6% | ||
| Q1 24 | 36.5% | 13.0% |
| Q4 25 | -4.7% | -4.1% | ||
| Q3 25 | -7.5% | 0.0% | ||
| Q2 25 | -12.8% | 0.1% | ||
| Q1 25 | -16.3% | 1.2% | ||
| Q4 24 | -13.2% | 19.0% | ||
| Q3 24 | -22.5% | 4.2% | ||
| Q2 24 | -18.1% | 5.0% | ||
| Q1 24 | -22.3% | 4.7% |
| Q4 25 | -12.8% | -3.2% | ||
| Q3 25 | -17.2% | -1.9% | ||
| Q2 25 | -23.5% | -0.8% | ||
| Q1 25 | -21.1% | 0.0% | ||
| Q4 24 | -17.2% | 13.2% | ||
| Q3 24 | -24.5% | 2.2% | ||
| Q2 24 | -12.4% | 2.3% | ||
| Q1 24 | -24.5% | 2.0% |
| Q4 25 | $-0.63 | $-0.22 | ||
| Q3 25 | $-0.87 | $-0.13 | ||
| Q2 25 | $-1.21 | $-0.05 | ||
| Q1 25 | $-1.09 | $0.00 | ||
| Q4 24 | $-0.89 | $0.76 | ||
| Q3 24 | $-1.33 | $0.14 | ||
| Q2 24 | $-0.68 | $0.18 | ||
| Q1 24 | $-1.38 | $0.16 |
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 | $1.5M |
| Total DebtLower is stronger | $1.7B | — |
| Stockholders' EquityBook value | $-63.8M | $240.7M |
| Total Assets | $3.1B | $563.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $148.5M | $1.5M | ||
| Q3 25 | $147.1M | $1.2M | ||
| Q2 25 | $213.7M | $206.0K | ||
| Q1 25 | $153.8M | $183.0K | ||
| Q4 24 | $198.5M | $206.0K | ||
| Q3 24 | $279.2M | $178.0K | ||
| Q2 24 | $384.4M | $314.0K | ||
| Q1 24 | $118.4M | $314.0K |
| Q4 25 | $1.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-63.8M | $240.7M | ||
| Q3 25 | $-39.2M | $244.8M | ||
| Q2 25 | $46.7M | $246.8M | ||
| Q1 25 | $142.8M | $250.0M | ||
| Q4 24 | $222.8M | $251.8M | ||
| Q3 24 | $323.6M | $238.4M | ||
| Q2 24 | $415.5M | $238.1M | ||
| Q1 24 | $500.6M | $234.0M |
| Q4 25 | $3.1B | $563.6M | ||
| Q3 25 | $3.1B | $585.6M | ||
| Q2 25 | $3.3B | $433.7M | ||
| Q1 25 | $3.1B | $447.7M | ||
| Q4 24 | $3.2B | $445.6M | ||
| Q3 24 | $3.2B | $466.0M | ||
| Q2 24 | $3.3B | $488.2M | ||
| Q1 24 | $3.1B | $499.9M |
| 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 | $13.4M |
| Free Cash FlowOCF − Capex | $-43.0M | $10.2M |
| FCF MarginFCF / Revenue | -17.9% | 7.6% |
| Capex IntensityCapex / Revenue | 15.4% | 2.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-198.1M | $26.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.0M | $13.4M | ||
| Q3 25 | $3.1M | $1.9M | ||
| Q2 25 | $-44.0M | $15.0M | ||
| Q1 25 | $36.4M | $8.3M | ||
| Q4 24 | $14.5M | $38.0M | ||
| Q3 24 | $-20.2M | $17.9M | ||
| Q2 24 | $-22.2M | $23.3M | ||
| Q1 24 | $19.2M | $10.6M |
| Q4 25 | $-43.0M | $10.2M | ||
| Q3 25 | $-33.1M | $-1.1M | ||
| Q2 25 | $-100.2M | $12.5M | ||
| Q1 25 | $-21.7M | $5.4M | ||
| Q4 24 | $-31.6M | $35.6M | ||
| Q3 24 | $-79.5M | $15.1M | ||
| Q2 24 | $-70.9M | $19.2M | ||
| Q1 24 | $-21.7M | $7.8M |
| Q4 25 | -17.9% | 7.6% | ||
| Q3 25 | -13.7% | -0.8% | ||
| Q2 25 | -40.7% | 9.5% | ||
| Q1 25 | -8.8% | 4.0% | ||
| Q4 24 | -12.5% | 29.4% | ||
| Q3 24 | -30.9% | 11.1% | ||
| Q2 24 | -27.2% | 11.7% | ||
| Q1 24 | -8.1% | 4.9% |
| Q4 25 | 15.4% | 2.4% | ||
| Q3 25 | 15.0% | 2.1% | ||
| Q2 25 | 22.8% | 1.8% | ||
| Q1 25 | 23.5% | 2.2% | ||
| Q4 24 | 18.3% | 1.9% | ||
| Q3 24 | 23.0% | 2.1% | ||
| Q2 24 | 18.7% | 2.5% | ||
| Q1 24 | 15.4% | 1.7% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 416.65× | ||
| Q4 24 | — | 2.38× | ||
| Q3 24 | — | 6.03× | ||
| Q2 24 | — | 6.15× | ||
| Q1 24 | — | 3.28× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CCOI
Segment breakdown not available.
MEC
| Fabrication | $72.2M | 54% |
| Construction And Access | $19.2M | 14% |
| Tubes | $16.2M | 12% |
| Other Market | $11.9M | 9% |
| Agriculture | $7.7M | 6% |
| Military | $6.7M | 5% |
| Outdoor Sports | $1.7M | 1% |
