Cogent Communications Group Inc (CCOI)
Debt-to-assets ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 444,187 | 444,088 | 443,991 | 443,896 | 631,702 |
| Total assets | US$ in thousands | 3,211,620 | 2,961,680 | 3,162,740 | 998,412 | 1,010,180 | 1,020,700 | 1,014,580 | 969,769 | 984,557 | 1,008,750 | 1,010,750 | 852,962 | 1,000,480 | 1,000,910 | 1,005,400 | 913,625 | 932,124 | 932,344 | 949,065 | 797,003 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.49 | 0.48 | 0.48 | 0.47 | 0.79 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $3,211,620K
= 0.00
The debt-to-assets ratio of Cogent Communications Holdings Inc has shown fluctuations over the past eight quarters. In Q4 2023 and Q3 2023, the ratio decreased to 0.45 and 0.48 respectively, indicating a lower level of debt relative to total assets. However, in Q2 2023, the ratio decreased further to 0.40, signaling an even healthier financial position with reduced debt levels.
In the preceding quarters, the debt-to-assets ratio was considerably higher, with Q1 2023 showing a significant peak at 1.27. This suggests that in Q1 2023, the company had higher debt relative to its total assets. The trend of decreasing debt-to-assets ratio from Q1 2023 to Q2 2023 indicates an improvement in the company's ability to manage its debt and strengthen its financial position.
Conversely, in the earlier quarters of 2022, the debt-to-assets ratio ranged between 1.16 and 1.24, indicating a relatively consistent but high level of debt compared to assets during that period.
Overall, the recent decrease in the debt-to-assets ratio for Cogent Communications Holdings Inc reflects a positive trend towards a lower debt burden and a stronger financial standing. It will be important to continue monitoring this ratio in future periods to ensure the company maintains a sustainable and optimal debt level relative to its assets.
Peer comparison
Dec 31, 2023