CCOI
Cogent Communications Holdings, Inc.
CCOI offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
META
Meta Platforms, Inc.
META has the edge over CCOI overall, supported by lower modeled downside and stronger valuation.
CCOI Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Under pressure | |
| Strong |
CCOI's balance sheet is currently strong, and its revenue and profitability are stable, but its cash flow is under pressure.
META Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Healthy |
META's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
CCOI PE Valuation
CCOI has no meaningful PE right now: it lost money over the past year.
META PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 19x | $624 | — |
| Cheap | 21x | $613 | -1.7% |
| Current | 21x | $624 | — |
| Fair | 27x | $803 | +29% |
| Expensive | 32x | $934 | +50% |
Historical ranges are pointers, not guarantees.
META's PE is in its cheap range at 21x. If earnings grow as analysts expect, today's price would be 19x next year's earnings.
CCOI Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Stable | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect CCOI's losses to shrink, with revenue holding steady. However, they disagree widely on these estimates.
META Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Strong growth | |
| Strongly weakening | |
| Moderate | |
| Low |
Analysts expect earnings and revenue growth for META, but weaker profitability. However, they disagree widely on these estimates.
CCOI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.70 | +$3.36 |
| Q2 2026 | -$0.95 | +$3.57 |
| Q1 2026 | -$3.54 | +$0.45 |
| Q4 2025 | -$3.80 | +$0.48 |
| Q3 2025 | -$4.06 | -725% |
| Q2 2025 | -$4.52 | -679% |
| Q1 2025 | -$3.99 | -116% |
| Q4 2024 | -$4.28 | -116% |
CCOI is still losing money, but far less than before: $0.70 per share over the past year, against $4.52 at its worst in mid-2025.
META Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $32.16 | +9.7% |
| Q3 2026 | $29.32 | +30% |
| Q2 2026 | $26.54 | -3.7% |
| Q1 2026 | $27.50 | +7.5% |
| Q4 2025 | $23.49 | -1.6% |
| Q3 2025 | $22.58 | +6.5% |
| Q2 2025 | $27.56 | +41% |
| Q1 2025 | $25.58 | +47% |
| Q4 2024 | $23.86 | +60% |
META has the edge over CCOI on earnings quality, reporting a profit while its opponent remains loss making.
CCOI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $231.2M | -4.4% |
| Q2 2026 | $235.6M | -4.3% |
| Q1 2026 | $239.2M | -3.2% |
| Q4 2025 | $240.5M | -4.7% |
| Q3 2025 | $241.9M | -5.9% |
| Q2 2025 | $246.2M | -5.5% |
| Q1 2025 | $247M | -7.2% |
| Q4 2024 | $252.3M | -7.3% |
CCOI's revenue has slid since its 2023 peak: $231M last quarter, down 4.4% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -3% | +4.5 points |
| Q2 2026 | 50% | +63 points |
| Q1 2026 | -5.7% | +11 points |
| Q4 2025 | -4.7% | +8.5 points |
| Q3 2025 | -7.5% | +15 points |
| Q2 2025 | -13% | +5.3 points |
| Q1 2025 | -16% | +6 points |
| Q4 2024 | -13% | +12 points |
CCOI's operating margin was −3% last quarter, up 4.5 points from the same quarter a year ago.
META Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $64.6B | +26% |
| Q2 2026 | $60.8B | +28% |
| Q1 2026 | $56.3B | +33% |
| Q4 2025 | $59.9B | +24% |
| Q3 2025 | $51.2B | +26% |
| Q2 2025 | $47.5B | +22% |
| Q1 2025 | $42.3B | +16% |
| Q4 2024 | $48.4B | +21% |
META has the edge over CCOI on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 20% | -20 points |
| Q2 2026 | 31% | -12 points |
| Q1 2026 | 41% | -0.9 points |
| Q4 2025 | 41% | -7 points |
| Q3 2025 | 40% | -2.7 points |
| Q2 2025 | 43% | +5 points |
| Q1 2025 | 41% | +3.6 points |
| Q4 2024 | 48% | +7.4 points |
META has the edge over CCOI on profitability, with a higher operating margin.
CCOI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$32.5M | +$628K |
| Q2 2026 | -$35.3M | +$64.9M |
| Q1 2026 | -$31.4M | -$9.7M |
| Q4 2025 | -$43M | -$11.5M |
| Q3 2025 | -$33.2M | +$46.3M |
| Q2 2025 | -$100.2M | -$29.3M |
| Q1 2025 | -$21.7M | -$73K |
| Q4 2024 | -$31.6M | +$60.7M |
CCOI has burned cash in eight of the last eight quarters: −$142M over the past year, against −$187M the year before.
META Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.2B | -110% |
| Q2 2026 | $1.7B | -81% |
| Q1 2026 | $13.2B | +19% |
| Q4 2025 | $14.8B | +9.3% |
| Q3 2025 | $11.2B | -32% |
| Q2 2025 | $9B | -19% |
| Q1 2025 | $11.1B | -14% |
| Q4 2024 | $13.6B | +16% |
META has the edge over CCOI on cash generation, producing positive trailing cash flow while its opponent burns cash.
CCOI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.9% | -427K shares |
| 1 year | +0.8% | +398K shares |
| 3 years | +1.6% | +774K shares |
| 5 years | +2.4% | +1.1M shares |
| Available history | +4% | +1.9M shares |
CCOI has 48M diluted shares, up 0.8% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2026 | $105.8M |
| Q4 2025 | — |
| Q3 2025 | $5.2M |
| Q2 2025 | $11.5M |
| Q4 2024 | — |
| Q3 2024 | — |
| Q4 2020 | $4.2M |
META Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +7M shares |
| 1 year | 0% | +1M shares |
| 3 years | -2.6% | -68M shares |
| 5 years | -10% | -286M shares |
| Available history | -11% | -303M shares |
META has the edge over CCOI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | $3.3B |
| Q2 2025 | $10.2B |
| Q1 2025 | $12.8B |
| Q4 2024 | — |
META hasn't bought back shares in the past year.
CCOI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.6x | Net Cash |
| Q2 2026 | -0.6x | Net Cash |
| Q1 2026 | -0.8x | Net Cash |
| Q4 2025 | 9.4x | High |
| Q3 2023 | -0.7x | Net Cash |
| Q2 2023 | -1.1x | Net Cash |
| Q1 2023 | -0.9x | Net Cash |
| Q4 2022 | 3.5x | Elevated |
CCOI has the edge over META on leverage, with a lower net debt burden relative to earnings.
META Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.7x | Very low |
| Q2 2026 | 0.6x | Very low |
| Q1 2026 | 0.3x | Very low |
| Q4 2025 | 0.2x | Very low |
| Q3 2025 | 0.2x | Very low |
| Q2 2025 | 0.2x | Very low |
| Q1 2025 | 0.0x | Very low |
| Q4 2024 | -0.2x | Net Cash |
META's net debt is less than a year of its operating earnings (EBITDA).
CCOI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 26.2 | Oversold |
| Stochastic | 3.5 | Oversold |
CCOI's weekly RSI is 26 (oversold) and its Stochastic is 4 (oversold).
META Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.2 | Neutral |
| Stochastic | 33.7 | Neutral |
META's weekly RSI is 48 (neutral) and its Stochastic is 34 (neutral).
CCOI PE vs Communication Services Sector
| Metric | CCOI | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 16x | — |
CCOI has no meaningful PE right now: it lost money over the past year.
META PE vs Communication Services Sector
| Metric | META | Sector median | Relative |
|---|---|---|---|
| PE | 21x | 16x | 29% above |
| PE % | 18 | 26 | 8 pts below |
META is trading at 21x earnings, a 29% premium to the Communication Services sector's median of 16x.
CCOI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $6.86 | 43% below |
| 20 week MA | $9.25 | 58% below |
| 50 week MA | $15.9 | 75% below |
| 100 week MA | $33.8 | 88% below |
| 200 week MA | $50.9 | 92% below |
CCOI is in a downtrend: it's below all five of its weekly moving averages, and 92% below its 200-week average.
META Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $674.9 | 7.6% below |
| 20 week MA | $634.5 | 1.7% below |
| 50 week MA | $630.8 | 1.1% below |
| 100 week MA | $647.8 | 3.7% below |
| 200 week MA | $517.5 | 21% above |
META has the edge over CCOI on trend strength, trading above more of its moving averages.
CCOI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $65.6 | $59.6 | -9.2% |
| 2021 | $59.6 | $73.6 | +24% |
| 2022 | $73.6 | $57.2 | -22% |
| 2023 | $57.2 | $76.1 | +33% |
| 2024 | $76.1 | $75.8 | -0.4% |
| 2025 | $75.8 | $22.6 | -70% |
| 2026 YTD | $22.6 | $3.92 | -83% |
CCOI has finished lower in four of the last six years. It's down 83% so far in 2026.
META Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $208.1 | $267.4 | +28% |
| 2021 | $267.4 | $335.2 | +25% |
| 2022 | $335.2 | $118.0 | -65% |
| 2023 | $118.0 | $354.0 | +200% |
| 2024 | $354.0 | $599.8 | +69% |
| 2025 | $599.8 | $663.3 | +11% |
| 2026 YTD | $663.3 | $623.6 | -6% |
META has the edge over CCOI on returns for 2026, with the stronger performance.