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Side-by-side financial comparison of COGENT COMMUNICATIONS HOLDINGS, INC. (CCOI) and Walker & Dunlop, Inc. (WD). Click either name above to swap in a different company.
Walker & Dunlop, Inc. is the larger business by last-quarter revenue ($340.0M vs $240.5M, roughly 1.4× COGENT COMMUNICATIONS HOLDINGS, INC.). COGENT COMMUNICATIONS HOLDINGS, INC. runs the higher net margin — -12.8% vs -12.9%, a 0.1% gap on every dollar of revenue. On growth, Walker & Dunlop, Inc. posted the faster year-over-year revenue change (-0.4% vs -4.7%). COGENT COMMUNICATIONS HOLDINGS, INC. produced more free cash flow last quarter ($-43.0M vs $-680.1M). Over the past eight quarters, Walker & Dunlop, Inc.'s revenue compounded faster (22.1% 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.
Walker & Dunlop, Inc. is one of the largest commercial real estate finance and advisory services firms in the United States and internationally.
CCOI vs WD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $240.5M | $340.0M |
| Net Profit | $-30.8M | $-13.9M |
| Gross Margin | 46.6% | — |
| Operating Margin | -4.7% | -17.2% |
| Net Margin | -12.8% | -12.9% |
| Revenue YoY | -4.7% | -0.4% |
| Net Profit YoY | 28.9% | -131.0% |
| EPS (diluted) | $-0.63 | $-0.41 |
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 | $340.0M | ||
| Q3 25 | $241.9M | $337.7M | ||
| Q2 25 | $246.2M | $319.2M | ||
| Q1 25 | $247.0M | $237.4M | ||
| Q4 24 | $252.3M | $341.5M | ||
| Q3 24 | $257.2M | $292.3M | ||
| Q2 24 | $260.4M | $270.7M | ||
| Q1 24 | $266.2M | $228.1M |
| Q4 25 | $-30.8M | $-13.9M | ||
| Q3 25 | $-41.5M | $33.5M | ||
| Q2 25 | $-57.8M | $34.0M | ||
| Q1 25 | $-52.0M | $2.8M | ||
| Q4 24 | $-43.3M | $44.8M | ||
| Q3 24 | $-63.1M | $28.8M | ||
| Q2 24 | $-32.3M | $22.7M | ||
| Q1 24 | $-65.3M | $11.9M |
| 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% | -17.2% | ||
| Q3 25 | -7.5% | 13.6% | ||
| Q2 25 | -12.8% | 14.5% | ||
| Q1 25 | -16.3% | 2.2% | ||
| Q4 24 | -13.2% | 15.3% | ||
| Q3 24 | -22.5% | 12.8% | ||
| Q2 24 | -18.1% | 10.4% | ||
| Q1 24 | -22.3% | 6.0% |
| Q4 25 | -12.8% | -12.9% | ||
| Q3 25 | -17.2% | 9.9% | ||
| Q2 25 | -23.5% | 10.6% | ||
| Q1 25 | -21.1% | 1.2% | ||
| Q4 24 | -17.2% | 13.1% | ||
| Q3 24 | -24.5% | 9.9% | ||
| Q2 24 | -12.4% | 8.4% | ||
| Q1 24 | -24.5% | 5.2% |
| Q4 25 | $-0.63 | $-0.41 | ||
| Q3 25 | $-0.87 | $0.98 | ||
| Q2 25 | $-1.21 | $0.99 | ||
| Q1 25 | $-1.09 | $0.08 | ||
| Q4 24 | $-0.89 | $1.32 | ||
| Q3 24 | $-1.33 | $0.85 | ||
| Q2 24 | $-0.68 | $0.67 | ||
| Q1 24 | $-1.38 | $0.35 |
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 | $299.3M |
| Total DebtLower is stronger | $1.7B | — |
| Stockholders' EquityBook value | $-63.8M | $1.7B |
| Total Assets | $3.1B | $5.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $148.5M | $299.3M | ||
| Q3 25 | $147.1M | $274.8M | ||
| Q2 25 | $213.7M | $233.7M | ||
| Q1 25 | $153.8M | $181.0M | ||
| Q4 24 | $198.5M | $279.3M | ||
| Q3 24 | $279.2M | $179.8M | ||
| Q2 24 | $384.4M | $208.1M | ||
| Q1 24 | $118.4M | $216.5M |
| Q4 25 | $1.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-63.8M | $1.7B | ||
| Q3 25 | $-39.2M | $1.8B | ||
| Q2 25 | $46.7M | $1.8B | ||
| Q1 25 | $142.8M | $1.7B | ||
| Q4 24 | $222.8M | $1.7B | ||
| Q3 24 | $323.6M | $1.7B | ||
| Q2 24 | $415.5M | $1.7B | ||
| Q1 24 | $500.6M | $1.7B |
| Q4 25 | $3.1B | $5.1B | ||
| Q3 25 | $3.1B | $5.8B | ||
| Q2 25 | $3.3B | $4.7B | ||
| Q1 25 | $3.1B | $4.5B | ||
| Q4 24 | $3.2B | $4.4B | ||
| Q3 24 | $3.2B | $4.6B | ||
| Q2 24 | $3.3B | $4.2B | ||
| Q1 24 | $3.1B | $3.8B |
| 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 | $-664.3M |
| Free Cash FlowOCF − Capex | $-43.0M | $-680.1M |
| FCF MarginFCF / Revenue | -17.9% | -200.0% |
| Capex IntensityCapex / Revenue | 15.4% | 4.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-198.1M | $-2.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.0M | $-664.3M | ||
| Q3 25 | $3.1M | $-948.1M | ||
| Q2 25 | $-44.0M | $-238.5M | ||
| Q1 25 | $36.4M | $-281.1M | ||
| Q4 24 | $14.5M | $129.4M | ||
| Q3 24 | $-20.2M | $-202.0M | ||
| Q2 24 | $-22.2M | $-237.8M | ||
| Q1 24 | $19.2M | $38.4M |
| Q4 25 | $-43.0M | $-680.1M | ||
| Q3 25 | $-33.1M | $-950.4M | ||
| Q2 25 | $-100.2M | $-241.0M | ||
| Q1 25 | $-21.7M | $-284.7M | ||
| Q4 24 | $-31.6M | $116.4M | ||
| Q3 24 | $-79.5M | $-204.0M | ||
| Q2 24 | $-70.9M | $-241.7M | ||
| Q1 24 | $-21.7M | $35.2M |
| Q4 25 | -17.9% | -200.0% | ||
| Q3 25 | -13.7% | -281.5% | ||
| Q2 25 | -40.7% | -75.5% | ||
| Q1 25 | -8.8% | -120.0% | ||
| Q4 24 | -12.5% | 34.1% | ||
| Q3 24 | -30.9% | -69.8% | ||
| Q2 24 | -27.2% | -89.3% | ||
| Q1 24 | -8.1% | 15.4% |
| Q4 25 | 15.4% | 4.6% | ||
| Q3 25 | 15.0% | 0.7% | ||
| Q2 25 | 22.8% | 0.8% | ||
| Q1 25 | 23.5% | 1.5% | ||
| Q4 24 | 18.3% | 3.8% | ||
| Q3 24 | 23.0% | 0.7% | ||
| Q2 24 | 18.7% | 1.4% | ||
| Q1 24 | 15.4% | 1.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | -28.34× | ||
| Q2 25 | — | -7.02× | ||
| Q1 25 | — | -102.07× | ||
| Q4 24 | — | 2.89× | ||
| Q3 24 | — | -7.01× | ||
| Q2 24 | — | -10.49× | ||
| Q1 24 | — | 3.24× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
