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CGO.TO (CGO) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of CGO.TO C$155, price C$51.83, upside +200.0%, quality 52 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Communication Services · CA · ISIN CA19238T1003

CT CGO.TO logo Thin data Sep 23, 2026

CGO.TO

CGO · TO

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

✓Fair value C$155.49 · Strongly undervalued (+200%)
!Quality 52/100
!Expensive Growth (revenue 5y +3.9 %/yr)
!Thin margins · 2.9% net margin (TTM)
!High debt · generates free cash flow
·7.37% dividend yield
✓Ranks above peers (11/15)
!Moderate moat 50/100
!Evidence only low, so the estimate is less certain
!The models disagree: range C$59.51 to C$251.46
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

C$75.41 C$38.01 Fair Value C$155.49 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range C$38.01 – C$75.41 · fair‑value band C$59.51 – C$251.46 · the C$51.83 price screens below the C$155.49 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

Cogeco Inc. operates in the communications and media sectors in Canada and the United States. The company operates in two segments, Canadian Telecommunications and American Telecommunications.

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Cogeco Inc. operates in the communications and media sectors in Canada and the United States. The company operates in two segments, Canadian Telecommunications and American Telecommunications. It provides a range of Internet, video, and phone services through advanced fibre optic and two-way telecommunications distribution networks primarily to residential customers, as well as business services under the Cogeco Connexion name in Quebec and Ontario; and Breezeline brand in the United States. The company provides advanced network connectivity services, such as dedicated fibre, session initiation protocol, primary rate interface, trunking solutions, and hosted private branch exchange solutions, as well as managed business Wi-Fi. In addition, it owns and operates 21 radio stations with complementary radio formats and coverage serving a range of audiences primarily across the province of Québec; and Cogeco News, a news agency. It serves primary service units, including Internet, video, and telephony service customers. The company was incorporated in 1957 and is headquartered in Montreal, Canada. Cogeco Inc. operates as a subsidiary of Gestion Audem Inc.

Stock analysis

CGO.TO (CGO) currently trades at C$51.83, while our model-based Fair Value estimate is C$155.49, implying the stock looks roughly 66.7% undervalued today.

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Valuation

Bull case: the Growth DCF group reads highest at a median of C$539.25 per share, and 23 of the 25 models we run sit above the C$51.83 price.

Bear case: the Dividend Discount group reads lowest at C$42.81, and 2 of the 25 models stay below the price. Evidence for this calculation is low.

Scenario range: C$59.51 (bear) to C$251.46 (bull), the price of C$51.83 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 52/100 (solid quality), in the Communication Services sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

CGO.TO reported revenue of C$3.0B in FY2025 versus C$2.6B in FY2021, a compound +3.7%/yr. Reported net income was C$85.0M in FY2025, compounding −33.7%/yr from FY2021.

Key figures

Market cap C$597M (≈ $422M) · P/E ratio 7.3 · P/S ratio 0.21 · EPS (TTM) C$−36.10 · Dividend yield 7.4% · Net margin 2.8% · Return on equity 9.0% · Return on assets (EBIT) 8.3%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).

What moves the price

The share trades about 31% below its 52-week high and at its 52-week low, currently below its 200-day average.

For context, the median of 10 Communication Services peers we cover trades at 47% fair-value upside, at 200%, CGO screens cheaper than that median.

Fair Value models

Bear C$59.51 Fair Value C$155.49 Bull C$251.46
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF C$257.07 C$573.51 C$990.97 76
Residual Income C$73.83 C$79.97 C$93.67 75
Growth DCF C$262.86 C$539.25 C$882.09 74
All 26 models by family
DCF Models
FCF DCF C$257.07 C$573.51 C$990.97 76
Owner Earnings n/a C$128.44 C$368.84 72
5Y Revenue Exit C$189.24 C$538.99 C$977.56 67
5Y EBITDA Exit C$534.16 C$1,179 C$1,926 71
5Y P/E Exit n/a n/a C$90.09 67
10Y Revenue Exit C$192.66 C$498.69 C$895.83 62
10Y EBITDA Exit C$409.69 C$902.94 C$1,552 64
10Y P/E Exit C$38.66 C$154.78 C$281.74 59
Earnings-Based
Graham-Dodd C$59.91 C$180.04 C$238.60 62
Lynch FV C$38.24 C$54.62 C$71.01 58
PEG = 1.0 C$38.24 C$54.62 C$71.01 55
EPV C$59.54 C$132.55 C$193.38 69
Dividend Discount
Gordon GGM C$27.94 C$50.35 C$69.31 65
DDM Multi-Stage C$27.94 C$42.81 C$53.79 65
Multiples
P/E Multiple C$145.37 C$193.82 C$242.28 61
P/S Multiple C$112.33 C$149.77 C$187.22 56
P/B Multiple C$112.33 C$149.77 C$187.22 53
EV/EBIT C$436.16 C$740.16 C$1,044 62
EV/EBITDA C$880.00 C$1,332 C$1,784 65
EV/Revenue C$179.16 C$459.87 C$740.59 49
Asset-Based
NCAV (Graham) C$44.74 C$59.95 C$89.48 52
Growth DCF
Growth DCF C$262.86 C$539.25 C$882.09 74
Rev-Margin DCF C$189.24 C$544.73 C$951.01 68
Economic Profit
Residual Income C$73.83 C$79.97 C$93.67 75
ROIC Compounder C$59.54 C$151.52 C$265.94 66
Growth Earnings
Growth-Adj P/E C$118.22 C$168.89 C$219.55 66

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Quality Score breakdown

Overall quality 52/100

Of which business quality 48 · Market factors (momentum, volatility) 37

Profitability 24
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 73
Earnings quality: real cash, not paper profit
Fin. Strength 4
Balance sheet, leverage, solvency risk
Investment 65
Disciplined investing over empire-building
Low Volatility 87
Calm price path (market factor)
Momentum 20
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 100
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 54/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−2.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.9%
Start year 2020 (pandemic). Over 10 years: +3.2% a year
Revenue growth 28 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.9%
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−11.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−18.9%
Dividend (yield on the price)7.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−19% vs 7%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.27% → 24%
Start year 2020 (pandemic)

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Telecom Services · 249 stocks

Beats the industry median on 2/2 measures
Overall it ranks above its industry peers.
Growth and dividend
Dividend yield (TTM) 7.4% · Top 25%

Valuation Multiplesvs Telecom Services median · lower = cheaper

P/E (TTM) 7.3× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 40
FUTURE (revenue growth)0 · sector 16
PAST (return on equity)36 · sector 29
HEALTH (low debt)0 · sector 83
DIVIDEND (yield)100 · sector 76

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Telecom Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
China Mobile Limited 0941 HK$78.95 HK$131.27 +66%
Verizon Communications Inc VZ $47.32 $70.27 +48%
T-Mobile US, Inc TMUS $165.35 $272.88 +65%
AT&T Inc T $25.45 $51.11 +101%
Bharti Airtel Limited BHARTIARTL ₹1,796 ₹1,883 +5%
China Telecom Corporation 601728 ¥6.10 ¥8.36 +37%
América Móvil, S.A. AMX $22.08 $32.49 +47%
Saudi Telecom Company 7010 43.66 SAR 41.80 SAR −4%
Singapore Telecommunications Limited Z74 4.32 SGD 2.15 SGD −50%
Swisscom AG SCMN CHF 656.50 CHF 505.18 −23%

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Cite: Fair Value Calculator (2026). "CGO.TO Fair Value". https://www.fairvalue-calculator.com/stock/CGO

Frequently asked questions

Is CGO.TO (CGO) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of C$155.49 versus a price of C$51.83, about +200% upside (undervalued).
What is the fair value of CGO?
Our model-based fair value for CGO.TO is C$155.49 (as of Sep 23, 2026), built from audited fundamentals. The current price: C$51.83.
What is the quality score of CGO?
CGO.TO has a Quality Score of 52/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for CGO.TO (CGO)?
Our model-based price target is the fair value of C$155.49 (as of Sep 23, 2026) from 26 valuation models. Cautious scenario C$59.51, optimistic scenario C$251.46. It is a calculation from audited fundamentals, not an analyst target.
What is the CGO.TO stock forecast for 2026?
Our models put fair value at C$155.49, about +200% upside versus a price of C$51.83 (undervalued). Cautious scenario C$59.51, optimistic scenario C$251.46. The calculation is refreshed regularly with new filings.
What is the revenue of CGO.TO (CGO)?
CGO.TO reported trailing-twelve-month revenue of about C$2.9B (latest available figure, as of Sep 23, 2026).
Does CGO.TO pay a dividend?
CGO.TO currently shows a dividend yield of about 7.37% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of CGO.TO (CGO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For CGO.TO it is C$155.49 per share (as of Sep 23, 2026), against a price of C$51.83. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is CGO.TO stock overvalued or undervalued in 2026?
As of Sep 23, 2026, CGO trades below its calculated fair value: price C$51.83, fair value C$155.49, a gap of about +200% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CGO?
No. The price is what the market pays today (C$51.83); the fair value is what the company's own numbers justify (C$155.49). For CGO.TO the two are C$103.66 per share apart. That gap is exactly why we show both numbers side by side.
How much is CGO.TO worth?
The market values CGO.TO at about C$597M (market capitalisation, as of Sep 23, 2026). Per share that is C$51.83; our models calculate a fair value of C$155.49 per share.
What do the bullish and bearish scenarios say about CGO?
Our models span a range for CGO.TO: cautious scenario C$59.51, base C$155.49, optimistic C$251.46 per share (as of Sep 23, 2026, price C$51.83). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CGO?
CGO.TO trades at a price-to-earnings ratio of 7.3 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of C$155.49 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 5.5 (reported for FY2025: 5.9).
How far is CGO from its 52-week high?
CGO.TO trades at C$51.83, about 31% below its 52-week high of C$75.41 and at the low of C$51.83 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of C$155.49 is for.
Which stocks are comparable to CGO.TO?
From the same area (Communication Services) we also value China Mobile Limited, Verizon Communications Inc, T-Mobile US, Inc, AT&T Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is CGO.TO stock attractive at the current price?
The data as of Sep 23, 2026: price C$51.83, calculated fair value C$155.49 (+200%), Quality Score 52/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CGO calculated?
We run CGO.TO through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of C$155.49, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.0 % above its aggregate fair value. CGO.TO currently trades 200 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of CGO.TO (CGO)?
The closing price on Sep 24, 2026 was C$51.83. Our model-based fair value is C$155.49, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with CGO.TO right now?
The price is below even our cautious bear case (C$59.51). The market is more pessimistic than our downside scenario. The model range is unusually wide (C$59.51 to C$251.46). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of CGO.TO (CGO) come from?
Earnings per share at CGO.TO grew +4.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +7.4 %, EBIT margin +1.7 %, tax rate −0.2 %, residual (interest, one-offs) −4.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of CGO.TO

How large is the market capitalisation of CGO.TO (CGO)?
The market capitalisation of CGO.TO is C$597M (≈ $422M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of CGO.TO (CGO)?
The price-to-sales ratio of CGO.TO is 0.21 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of CGO.TO (CGO)?
Earnings per share at CGO.TO are C$−36.10 (price ÷ EPS = P/E 7.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of CGO.TO (CGO)?
The dividend yield of CGO.TO is 7.4%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of CGO.TO (CGO)?
The net margin of CGO.TO is 2.8% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of CGO.TO (CGO)?
The return on equity (ROE) of CGO.TO is 9.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of CGO.TO (CGO)?
On an EBIT basis the return on assets of CGO.TO is 8.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of CGO.TO (CGO)?
The operating margin of CGO.TO is 23.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at CGO.TO (CGO)?
Revenue at CGO.TO is growing −5.3% versus a year earlier (3y avg +0.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at CGO.TO (CGO)?
Earnings per share at CGO.TO are growing +4.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does CGO.TO (CGO) generate?
The free cash flow of CGO.TO is C$515M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does CGO.TO (CGO) carry?
The net debt of CGO.TO is C$4.6B (fiscal year 2025, ≈ 9.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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