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Side-by-side financial comparison of COGENT COMMUNICATIONS HOLDINGS, INC. (CCOI) and PHOTRONICS INC (PLAB). 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 $210.4M, roughly 1.1× PHOTRONICS INC). PHOTRONICS INC runs the higher net margin — 10.9% vs -12.8%, a 23.7% gap on every dollar of revenue. On growth, COGENT COMMUNICATIONS HOLDINGS, INC. posted the faster year-over-year revenue change (-4.7% vs -5.5%). PHOTRONICS INC produced more free cash flow last quarter ($25.2M vs $-43.0M). Over the past eight quarters, PHOTRONICS INC's revenue compounded faster (-3.8% 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.
Photronics, Inc. is an American semiconductor photomask manufacturer. It was the third largest photomask supplier globally as of 2009. Photronics is a member of the eBeam Initiative.
CCOI vs PLAB — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $240.5M | $210.4M |
| Net Profit | $-30.8M | $22.9M |
| Gross Margin | 46.6% | 33.7% |
| Operating Margin | -4.7% | 22.9% |
| Net Margin | -12.8% | 10.9% |
| Revenue YoY | -4.7% | -5.5% |
| Net Profit YoY | 28.9% | -32.4% |
| EPS (diluted) | $-0.63 | $0.39 |
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 | $210.4M | ||
| Q2 25 | $246.2M | $211.0M | ||
| Q1 25 | $247.0M | $212.1M | ||
| Q4 24 | $252.3M | $222.6M | ||
| Q3 24 | $257.2M | $211.0M | ||
| Q2 24 | $260.4M | $217.0M | ||
| Q1 24 | $266.2M | $216.3M |
| Q4 25 | $-30.8M | — | ||
| Q3 25 | $-41.5M | $22.9M | ||
| Q2 25 | $-57.8M | $8.9M | ||
| Q1 25 | $-52.0M | $42.9M | ||
| Q4 24 | $-43.3M | $33.9M | ||
| Q3 24 | $-63.1M | $34.4M | ||
| Q2 24 | $-32.3M | $36.3M | ||
| Q1 24 | $-65.3M | $26.2M |
| Q4 25 | 46.6% | — | ||
| Q3 25 | 45.6% | 33.7% | ||
| Q2 25 | 44.2% | 36.9% | ||
| Q1 25 | 44.4% | 35.6% | ||
| Q4 24 | 38.5% | 37.0% | ||
| Q3 24 | 37.2% | 35.6% | ||
| Q2 24 | 40.0% | 36.5% | ||
| Q1 24 | 36.5% | 36.6% |
| Q4 25 | -4.7% | — | ||
| Q3 25 | -7.5% | 22.9% | ||
| Q2 25 | -12.8% | 26.4% | ||
| Q1 25 | -16.3% | 24.6% | ||
| Q4 24 | -13.2% | 25.1% | ||
| Q3 24 | -22.5% | 24.7% | ||
| Q2 24 | -18.1% | 25.8% | ||
| Q1 24 | -22.3% | 26.6% |
| Q4 25 | -12.8% | — | ||
| Q3 25 | -17.2% | 10.9% | ||
| Q2 25 | -23.5% | 4.2% | ||
| Q1 25 | -21.1% | 20.2% | ||
| Q4 24 | -17.2% | 15.2% | ||
| Q3 24 | -24.5% | 16.3% | ||
| Q2 24 | -12.4% | 16.7% | ||
| Q1 24 | -24.5% | 12.1% |
| Q4 25 | $-0.63 | — | ||
| Q3 25 | $-0.87 | $0.39 | ||
| Q2 25 | $-1.21 | $0.15 | ||
| Q1 25 | $-1.09 | $0.68 | ||
| Q4 24 | $-0.89 | $0.54 | ||
| Q3 24 | $-1.33 | $0.55 | ||
| Q2 24 | $-0.68 | $0.58 | ||
| Q1 24 | $-1.38 | $0.42 |
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 | $575.8M |
| Total DebtLower is stronger | $1.7B | $16.0K |
| Stockholders' EquityBook value | $-63.8M | $1.1B |
| Total Assets | $3.1B | $1.8B |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $148.5M | — | ||
| Q3 25 | $147.1M | $575.8M | ||
| Q2 25 | $213.7M | $558.4M | ||
| Q1 25 | $153.8M | $642.2M | ||
| Q4 24 | $198.5M | $640.7M | ||
| Q3 24 | $279.2M | $606.4M | ||
| Q2 24 | $384.4M | $559.9M | ||
| Q1 24 | $118.4M | $521.5M |
| Q4 25 | $1.7B | — | ||
| Q3 25 | — | $16.0K | ||
| Q2 25 | — | $19.0K | ||
| Q1 25 | — | $21.0K | ||
| Q4 24 | $1.5B | $25.0K | ||
| Q3 24 | — | $28.0K | ||
| Q2 24 | — | $2.5M | ||
| Q1 24 | — | $2.7M |
| Q4 25 | $-63.8M | — | ||
| Q3 25 | $-39.2M | $1.1B | ||
| Q2 25 | $46.7M | $1.1B | ||
| Q1 25 | $142.8M | $1.1B | ||
| Q4 24 | $222.8M | $1.1B | ||
| Q3 24 | $323.6M | $1.1B | ||
| Q2 24 | $415.5M | $1.0B | ||
| Q1 24 | $500.6M | $1.0B |
| Q4 25 | $3.1B | — | ||
| Q3 25 | $3.1B | $1.8B | ||
| Q2 25 | $3.3B | $1.7B | ||
| Q1 25 | $3.1B | $1.7B | ||
| Q4 24 | $3.2B | $1.7B | ||
| Q3 24 | $3.2B | $1.6B | ||
| Q2 24 | $3.3B | $1.6B | ||
| Q1 24 | $3.1B | $1.6B |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | 6.53× | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.00× |
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 | $50.1M |
| Free Cash FlowOCF − Capex | $-43.0M | $25.2M |
| FCF MarginFCF / Revenue | -17.9% | 12.0% |
| Capex IntensityCapex / Revenue | 15.4% | 11.8% |
| Cash ConversionOCF / Net Profit | — | 2.19× |
| TTM Free Cash FlowTrailing 4 quarters | $-198.1M | $64.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.0M | — | ||
| Q3 25 | $3.1M | $50.1M | ||
| Q2 25 | $-44.0M | $31.5M | ||
| Q1 25 | $36.4M | $78.5M | ||
| Q4 24 | $14.5M | $68.4M | ||
| Q3 24 | $-20.2M | $75.1M | ||
| Q2 24 | $-22.2M | $76.5M | ||
| Q1 24 | $19.2M | $41.5M |
| Q4 25 | $-43.0M | — | ||
| Q3 25 | $-33.1M | $25.2M | ||
| Q2 25 | $-100.2M | $-29.1M | ||
| Q1 25 | $-21.7M | $43.3M | ||
| Q4 24 | $-31.6M | $25.2M | ||
| Q3 24 | $-79.5M | $50.7M | ||
| Q2 24 | $-70.9M | $56.5M | ||
| Q1 24 | $-21.7M | $-1.8M |
| Q4 25 | -17.9% | — | ||
| Q3 25 | -13.7% | 12.0% | ||
| Q2 25 | -40.7% | -13.8% | ||
| Q1 25 | -8.8% | 20.4% | ||
| Q4 24 | -12.5% | 11.3% | ||
| Q3 24 | -30.9% | 24.0% | ||
| Q2 24 | -27.2% | 26.0% | ||
| Q1 24 | -8.1% | -0.8% |
| Q4 25 | 15.4% | — | ||
| Q3 25 | 15.0% | 11.8% | ||
| Q2 25 | 22.8% | 28.7% | ||
| Q1 25 | 23.5% | 16.6% | ||
| Q4 24 | 18.3% | 19.4% | ||
| Q3 24 | 23.0% | 11.6% | ||
| Q2 24 | 18.7% | 9.2% | ||
| Q1 24 | 15.4% | 20.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | 2.19× | ||
| Q2 25 | — | 3.55× | ||
| Q1 25 | — | 1.83× | ||
| Q4 24 | — | 2.02× | ||
| Q3 24 | — | 2.18× | ||
| Q2 24 | — | 2.11× | ||
| Q1 24 | — | 1.59× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CCOI
Segment breakdown not available.
PLAB
| High End Integrated Circuits | $53.6M | 25% |
| High End Flat Panel Displays | $53.5M | 25% |
| KR | $43.7M | 21% |
| Other | $42.1M | 20% |
| Mainstream Flat Panel Displays | $9.1M | 4% |
| Transferred At Point In Time | $8.4M | 4% |
