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Tucows Inc.(TCX)Earnings, Financials & Key Ratios
TCX•NASDAQ
$15.06
$168M mkt cap·Price updated May 6, 2026
AboutTucows Inc. provides network access, domain name registration, email, mobile telephony, and other Internet services in Canada, the United States, and Europe. It operates through three segments: Fiber Internet Services, Mobile Services, and Domain Services. The Fiber Internet Services segment provides fixed high-speed Internet access services to individuals and small businesses primarily through the Ting website, and other billing solutions to small internet service providers. The Mobile Services segment offers mobile phones and retail telephony services; and professional services, including implementation, training, consulting, and software development and modification services, as well as operates Mobile Services Enabler platform that provides network access, provisioning, and billing services. The Domain Services segment provides wholesale and retail domain name registration services; portfolio services; and value-added services, such as hosted email, Internet security services, Internet hosting, WHOIS privacy, publishing tools, and other value-added services for end-users under the OpenSRS, eNom, Ascio, and Hover brands. The company was formerly known as Infonautics, Inc. and changed its name to Tucows Inc. in August 2001. Tucows Inc. was incorporated in 1992 and is headquartered in Toronto, Canada.Show more
- Revenue$390M+7.7%
- EBITDA$225M+1262.3%
- Net Income-$76M+31.0%
- EPS (Diluted)-6.85+31.6%
- Gross Margin23.11%+0.8%
- EBITDA Margin57.75%+1178.9%
- Operating Margin-3.86%+78.5%
- Net Margin-19.43%+35.9%
- ROIC-2.72%+76.4%
- Interest Coverage-0.26+69.8%
TCX Key Insights
Tucows Inc. (TCX) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
No significant strengths identified
✗Weaknesses
- ✗Negative free cash flow
- ✗Low quality earnings: Net income not backed by cash flow
- ✗Trading more than 30% below 52-week high
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
TCX Price & Volume
Tucows Inc. (TCX) stock price & volume — 10-year historical chart
Loading chart...
TCX Growth Metrics
Tucows Inc. (TCX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years8.48%
5 Years4.63%
3 Years6.72%
TTM7.74%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM30.99%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM31.74%
Return on Capital
10 Years6.03%
5 Years-7.23%
3 Years-8.75%
Last Year-3.14%
TCX Recent Earnings
Tucows Inc. (TCX) EPS & revenue vs analyst estimates — last 4 quarters
●Beat Revenue 3/12 qtrs (60%)
Q1 2026Latest
Feb 12, 2026EPS
$1.73
Revenue
$99M
Est $99M
+0.0%
Q4 2025
Nov 6, 2025EPS
$1.42
Revenue
$99M
Q3 2025
Aug 7, 2025EPS
$1.41
Revenue
$98M
Q2 2025
May 8, 2025EPS
$1.37
Revenue
$95M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q1 2026Latest | Feb 12, 2026 | $1.73 | $99Mvs $99M+0.0% |
| Q4 2025 | Nov 6, 2025 | $1.42 | $99M |
| Q3 2025 | Aug 7, 2025 | $1.41 | $98M |
| Q2 2025 | May 8, 2025 | $1.37 | $95M |
Based on last 12 quarters of dataView full earnings history →
TCX Peer Comparison
Tucows Inc. (TCX) competitors in Web presence and domain infrastructure — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 GDDY | 11.36B | 85.20 | 13.68 | 8.26% | 17.32% | 366.9% | 17.96 | |
 NTCT | 2.57B | 35.52 | -7.02 | -0.82% | 11.13% | 6.07% | 0.05 | |
 ATEN | 1.92B | 26.72 | 46.88 | 11.03% | 14.9% | 21.19% | 1.05 | |
 UNIT | 2.69B | 11.33 | 2.33 | 91.49% | 56.8% | 342.98% | 26.35 | |
 CABO | 316.05M | 55.72 | -0.88 | -4.95% | -17.67% | -18.33% | 2.23 | |
 LUMN | 10.1B | 9.81 | -5.61 | -5.39% | -14.34% | -79.42% | ||
 SHEN | 896.99M | 16.22 | -22.85 | 9.08% | -13.67% | -3.7% | 0.66 | |
 OOMA | 505.1M | 18.57 | 80.74 | 6.52% | 2.36% | 7.2% | 0.19 |
Compare TCX vs Peers
Tucows Inc. (TCX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
TCX Income Statement
Tucows Inc. (TCX) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 329.42M | 346.01M | 337.14M | 311.2M | 304.34M | 321.14M | 339.34M | 362.27M | 390.3M |
| Revenue Growth % | 73.54% | 5.04% | -2.56% | -7.69% | -2.21% | 5.52% | 5.67% | 6.76% | 7.74% |
| Cost of Goods Sold | 244.9M | 249.24M | 236.37M | 225.72M | 226.04M | 242.89M | 230.48M | 279.25M | 300.11M |
| COGS % of Revenue | 74.34% | 72.03% | 70.11% | 72.53% | 74.27% | 75.63% | 67.92% | 77.08% | 76.89% |
| Gross Profit | 84.52M▲ 0% | 96.77M▲ 14.5% | 100.78M▲ 4.1% | 85.48M▼ 15.2% | 78.29M▼ 8.4% | 78.25M▼ 0.1% | 108.86M▲ 39.1% | 83.03M▼ 23.7% | 90.19M▲ 8.6% |
| Gross Margin % | 25.66% | 27.97% | 29.89% | 27.47% | 25.73% | 24.37% | 32.08% | 22.92% | 23.11% |
| Gross Profit Growth % | 34.05% | 14.49% | 4.14% | -15.17% | -8.41% | -0.06% | 39.12% | -23.73% | 8.63% |
| Operating Expenses | 57.43M | 67.19M | 71.44M | 78.57M | 86.07M | 109.91M | 172.51M | 148.04M | 105.25M |
| OpEx % of Revenue | 17.43% | 19.42% | 21.19% | 25.25% | 28.28% | 34.22% | 50.84% | 40.86% | 26.97% |
| Selling, General & Admin | 43.02M | 50.77M | 52.15M | 54.54M | 61.84M | 84.78M | 101.21M | 96.45M | 91.26M |
| SG&A % of Revenue | 13.06% | 14.67% | 15.47% | 17.53% | 20.32% | 26.4% | 29.83% | 26.62% | 23.38% |
| Research & Development | 7.26M | 8.75M | 9.72M | 12.43M | 14.31M | 14.19M | 622K | 18.63M | 0 |
| R&D % of Revenue | 2.2% | 2.53% | 2.88% | 3.99% | 4.7% | 4.42% | 0.18% | 5.14% | - |
| Other Operating Expenses | 560.66K | 518K | 9.57M | 11.6M | 9.91M | 10.94M | 70.68M | 32.97M | 13.99M |
| Operating Income | 27.08M▲ 0% | 29.32M▲ 8.3% | 29.34M▲ 0.1% | 6.92M▼ 76.4% | -7.77M▼ 212.4% | -31.66M▼ 307.3% | -63.65M▼ 101.0% | -65.01M▼ 2.1% | -15.06M▲ 76.8% |
| Operating Margin % | 8.22% | 8.47% | 8.7% | 2.22% | -2.55% | -9.86% | -18.76% | -17.95% | -3.86% |
| Operating Income Growth % | 8.12% | 8.28% | 0.05% | -76.42% | -212.38% | -307.33% | -101.04% | -2.14% | 76.84% |
| EBITDA | 39.21M | 44.29M | 48.63M | 30.97M | 20.22M | 7.92M | -17.01M | -19.39M | 225.41M |
| EBITDA Margin % | 11.9% | 12.8% | 14.43% | 9.95% | 6.64% | 2.47% | -5.01% | -5.35% | 57.75% |
| EBITDA Growth % | 40.92% | 12.96% | 9.81% | -36.32% | -34.71% | -60.84% | -314.85% | -13.98% | 1262.32% |
| D&A (Non-Cash Add-back) | 12.13M | 14.96M | 19.29M | 24.05M | 27.99M | 39.58M | 46.64M | 45.62M | 240.47M |
| EBIT | 27.64M | 29.78M | 29.34M | 14.37M | 11.89M | -13.2M | -58.83M | -47.44M | -15.06M |
| Net Interest Income | -3.57M | -3.69M | -4.77M | -3.61M | -4.62M | -14.46M | -41.77M | -51.27M | -55.27M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 132K | 0 | 3.16M | 1.91M |
| Interest Expense | 3.57M | 3.69M | 4.77M | 3.61M | 4.62M | 14.59M | 41.77M | 54.43M | 57.18M |
| Other Income/Expense | -3.01M | -3.17M | -4.77M | 3.84M | 15.04M | 3.87M | -39.42M | -36.86M | -52.25M |
| Pretax Income | 24.07M▲ 0% | 26.16M▲ 8.6% | 24.57M▼ 6.1% | 10.76M▼ 56.2% | 7.27M▼ 32.4% | -27.79M▼ 482.2% | -103.07M▼ 270.9% | -101.87M▲ 1.2% | -67.31M▲ 33.9% |
| Pretax Margin % | 7.31% | 7.56% | 7.29% | 3.46% | 2.39% | -8.65% | -30.37% | -28.12% | -17.25% |
| Income Tax | 1.75M | 9.02M | 9.17M | 4.99M | 3.91M | -217K | -6.87M | 7.99M | 8.51M |
| Effective Tax Rate % | 7.26% | 34.49% | 37.33% | 46.33% | 53.73% | 0.78% | 6.67% | -7.84% | -12.64% |
| Net Income | 22.33M▲ 0% | 17.14M▼ 23.3% | 15.4M▼ 10.1% | 5.78M▼ 62.5% | 3.36M▼ 41.7% | -27.57M▼ 919.6% | -96.2M▼ 248.9% | -109.86M▼ 14.2% | -75.82M▲ 31.0% |
| Net Margin % | 6.78% | 4.95% | 4.57% | 1.86% | 1.11% | -8.59% | -28.35% | -30.33% | -19.43% |
| Net Income Growth % | 38.96% | -23.25% | -10.14% | -62.5% | -41.75% | -919.59% | -248.91% | -14.2% | 30.99% |
| Net Income (Continuing) | 22.33M | 17.14M | 15.4M | 5.78M | 3.36M | -27.57M | -96.2M | -109.86M | -75.82M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 3.09B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 2.07▲ 0% | 1.59▼ 23.2% | 1.43▼ 10.1% | 0.54▼ 62.2% | 0.31▼ 42.6% | -2.56▼ 925.8% | -8.85▼ 245.7% | -10.02▼ 13.2% | -6.85▲ 31.6% |
| EPS Growth % | 38% | -23.19% | -10.06% | -62.24% | -42.59% | -925.81% | -245.7% | -13.22% | 31.64% |
| EPS (Basic) | 2.12 | 1.62 | 1.45 | 0.55 | 0.32 | -2.56 | -8.85 | -10.02 | -6.85 |
| Diluted Shares Outstanding | 10.79M | 10.79M | 10.77M | 10.69M | 10.82M | 10.77M | 10.86M | 10.97M | 11.07M |
| Basic Shares Outstanding | 10.54M | 10.6M | 10.62M | 10.59M | 10.66M | 10.77M | 10.86M | 10.97M | 11.07M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
TCX Balance Sheet
Tucows Inc. (TCX) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 153.86M | 131.93M | 145.68M | 141.2M | 147M | 169.92M | 242.76M | 205.38M | 203.09M |
| Cash & Short-Term Investments | 18.05M | 12.64M | 20.39M | 8.31M | 9.11M | 23.5M | 92.69M | 56.9M | 46.76M |
| Cash Only | 18.05M | 12.64M | 20.39M | 8.31M | 9.11M | 23.5M | 92.69M | 56.9M | 46.76M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 12.38M | 12.26M | 16.36M | 16.84M | 18.83M | 26.03M | 23.62M | 21.09M | 24.49M |
| Days Sales Outstanding | 13.71 | 12.93 | 17.72 | 19.75 | 22.58 | 29.59 | 25.41 | 21.25 | 22.91 |
| Inventory | 2.94M | 3.77M | 3.46M | 1.88M | 3.28M | 7.28M | 6.79M | 3.98M | 0 |
| Days Inventory Outstanding | 4.39 | 5.53 | 5.34 | 3.03 | 5.29 | 10.95 | 10.75 | 5.2 | - |
| Other Current Assets | 14.19M | 0 | 91.98M | 97.33M | 94.81M | 96.1M | 102.27M | 106.09M | 102.47M |
| Total Non-Current Assets | 196.79M | 207.65M | 280.24M | 310.7M | 392.59M | 494.83M | 555.67M | 553.41M | 527.82M |
| Property, Plant & Equipment | 24.62M | 48.06M | 93.46M | 128.77M | 190.18M | 301.98M | 367.11M | 366.69M | 345.27M |
| Fixed Asset Turnover | 13.38x | 7.20x | 3.61x | 2.42x | 1.60x | 1.06x | 0.92x | 0.99x | 1.13x |
| Goodwill | 90.05M | 90.05M | 109.82M | 116.3M | 130.41M | 130.41M | 130.41M | 130.41M | 130.41M |
| Intangible Assets | 58.41M | 49.4M | 57.65M | 47.44M | 50.41M | 39.79M | 29.48M | 24.75M | 19.7M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 2.01M | 2.01M | 2.01M | 2.01M | 0 |
| Other Non-Current Assets | 23.7M | 20.14M | 19.32M | 17.96M | 19.56M | 20.63M | 26.65M | 29.55M | 32.43M |
| Total Assets | 350.65M▲ 0% | 339.57M▼ 3.2% | 425.92M▲ 25.4% | 451.9M▲ 6.1% | 539.6M▲ 19.4% | 664.75M▲ 23.2% | 798.43M▲ 20.1% | 758.8M▼ 5.0% | 730.91M▼ 3.7% |
| Asset Turnover | 0.94x | 1.02x | 0.79x | 0.69x | 0.56x | 0.48x | 0.43x | 0.48x | 0.53x |
| Asset Growth % | 127.09% | -3.16% | 25.43% | 6.1% | 19.41% | 23.19% | 20.11% | -4.96% | -3.68% |
| Total Current Liabilities | 178.56M | 165.35M | 156.91M | 162.97M | 173.68M | 188.19M | 201.34M | 199.85M | 330.43M |
| Accounts Payable | 7.03M | 8.45M | 6.67M | 6.33M | 10.02M | 17.17M | 12.68M | 9.01M | 35.27M |
| Days Payables Outstanding | 10.47 | 12.37 | 10.3 | 10.23 | 16.17 | 25.8 | 20.07 | 11.78 | 42.9 |
| Short-Term Debt | 18.29M | 18.4M | 0 | 0 | 0 | 0 | 0 | 0 | 136.96M |
| Deferred Revenue (Current) | 144.41M | 128.65M | 137.18M | 142.74M | 141.09M | 138.68M | 19.34M | 152.31M | 0 |
| Other Current Liabilities | 145.66M | 132.6M | 0 | 99K | 3.2M | 1.99M | 127.97M | 1.27M | 152.42M |
| Current Ratio | 0.86x | 0.80x | 0.93x | 0.87x | 0.85x | 0.90x | 1.21x | 1.03x | 0.61x |
| Quick Ratio | 0.85x | 0.78x | 0.91x | 0.85x | 0.83x | 0.86x | 1.17x | 1.01x | 0.61x |
| Cash Conversion Cycle | 7.63 | 6.09 | 12.75 | 12.55 | 11.7 | 14.73 | 16.08 | 14.67 | - |
| Total Non-Current Liabilities | 111.88M | 94.45M | 174.82M | 184.24M | 250.82M | 379.9M | 587.21M | 654.25M | 564.68M |
| Long-Term Debt | 58.63M | 46.2M | 113.5M | 121.73M | 190.75M | 238.93M | 544.64M | 482.07M | 481.18M |
| Capital Lease Obligations | 0 | 0 | 9.42M | 9.18M | 11.85M | 12.44M | 18.25M | 25.9M | 57.82M |
| Deferred Tax Liabilities | 19.83M | 20.93M | 25.47M | 24.69M | 22.57M | 15.72M | 0 | 2.96M | 0 |
| Other Non-Current Liabilities | 1.55M | 366K | 216K | 3.73M | 1.97M | 90.58M | 2.97M | 122.16M | 25.68M |
| Total Liabilities | 290.44M | 259.8M | 331.72M | 347.2M | 424.5M | 568.09M | 788.55M | 854.1M | 895.11M |
| Total Debt | 76.92M | 64.6M | 124.34M | 132.67M | 205.75M | 256.01M | 568.29M | 513.12M | 681.73M |
| Net Debt | 58.87M | 51.96M | 103.95M | 124.36M | 196.65M | 232.51M | 475.6M | 456.22M | 634.98M |
| Debt / Equity | 0.02x | 0.81x | 1.32x | 1.27x | 1.79x | 2.65x | 57.55x | - | - |
| Debt / EBITDA | 1.96x | 1.46x | 2.56x | 4.28x | 10.18x | 32.33x | - | - | 3.02x |
| Net Debt / EBITDA | 1.50x | 1.17x | 2.14x | 4.02x | 9.73x | 29.36x | - | - | 2.82x |
| Interest Coverage | 7.75x | 8.08x | 6.15x | 3.98x | 2.57x | -0.90x | -1.41x | -0.87x | -0.26x |
| Total Equity | 3.15B▲ 0% | 79.78M▼ 97.5% | 94.19M▲ 18.1% | 104.7M▲ 11.2% | 115.09M▲ 9.9% | 96.66M▼ 16.0% | 9.88M▼ 89.8% | -95.3M▼ 1065.1% | -164.2M▼ 72.3% |
| Equity Growth % | 0.72% | -97.46% | 18.07% | 11.15% | 9.93% | -16.02% | -89.78% | -1065.06% | -72.3% |
| Book Value per Share | 291.50 | 7.39 | 8.74 | 9.79 | 10.64 | 8.98 | 0.91 | -8.69 | -14.84 |
| Total Shareholders' Equity | 60.21M | 79.78M | 94.19M | 104.7M | 115.09M | 96.66M | 9.88M | -95.3M | -164.2M |
| Common Stock | 15.37M | 15.82M | 16.63M | 20.8M | 28.52M | 31.87M | 34.37M | 36.58M | 38.31M |
| Retained Earnings | 42.68M | 60.81M | 76.21M | 80.11M | 83.47M | 55.9M | -40.3M | -150.16M | -225.98M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 99.15M | -810K | 473K | 2.34M | 343K | 784K | 1.73M | -964K | -57K |
| Minority Interest | 3.09B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
TCX Cash Flow Statement
Tucows Inc. (TCX) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 31.9M | 37.21M | 40.38M | 36.08M | 29.64M | 19.88M | -4.77M | -19.75M | -5.76M |
| Operating CF Margin % | 9.68% | 10.75% | 11.98% | 11.59% | 9.74% | 6.19% | -1.41% | -5.45% | -1.48% |
| Operating CF Growth % | 47.33% | 16.65% | 8.52% | -10.65% | -17.86% | -32.94% | -124% | -313.85% | 70.84% |
| Net Income | 22.33M | 17.14M | 15.4M | 5.78M | 3.36M | -27.57M | -96.2M | -109.86M | -75.82M |
| Depreciation & Amortization | 12.13M | 14.96M | 19.29M | 24.05M | 27.99M | 39.58M | 47.26M | 45.62M | 50.91M |
| Stock-Based Compensation | 1.46M | 2.57M | 2.88M | 3.72M | 4.59M | 7.6M | 8.13M | 7.02M | 7.14M |
| Deferred Taxes | -3.34M | 1.04M | 1.28M | -3.94M | -1.33M | -6.98M | -13.04M | 854K | 0 |
| Other Non-Cash Items | -2.6M | -297K | -436K | 6.38M | -2.98M | 2.21M | 36.6M | 32.63M | 11.28M |
| Working Capital Changes | 1.92M | 1.79M | 1.96M | 90K | -2M | 5.04M | 12.47M | 4M | 732K |
| Change in Receivables | 1.01M | 1.54M | -3.1M | 627K | -586K | -7.18M | 3M | 2.27M | -3.62M |
| Change in Inventory | -1.73M | -831K | 318K | 945K | -787K | -4.01M | 361K | 2.81M | 0 |
| Change in Payables | -3.83M | 171K | -1.22M | -902K | 4.07M | 6.75M | -5.32M | -3.39M | 0 |
| Cash from Investing | -94.11M | -29.68M | -76.09M | -53.28M | -101.98M | -137.49M | -92.58M | -56.49M | 2.16M |
| Capital Expenditures | -15.88M | -28.48M | -44.07M | -44.44M | -73.17M | -136.71M | -92.06M | -56.46M | -17.11M |
| CapEx % of Revenue | 4.82% | 8.23% | 13.07% | 14.28% | 24.04% | 42.57% | 27.13% | 15.58% | 4.38% |
| Acquisitions | -78.24M | -1.2M | -28.45M | -8.77M | -26.53M | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - |
| Other Investing | -2.94M | -565K | -3.57M | -72K | -264K | -782K | -528K | -33K | 19.27M |
| Cash from Financing | 65.16M | -12.94M | 43.46M | 5.12M | 73.14M | 132.01M | 178.84M | 44.5M | -5.39M |
| Debt Issued (Net) | 67.02M | -12.6M | 49.24M | 8M | 68.7M | 47.55M | 197.75M | 46.47M | -5M |
| Equity Issued (Net) | -1.46M | -445K | -4.99M | -3.28M | 0 | 87.5M | -10.72M | 43K | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -1.46M | -445K | -4.99M | -3.28M | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -398K | 104K | -794K | 397K | 4.43M | -3.04M | -8.19M | -2.01M | -392K |
| Net Change in Cash | 2.94M▲ 0% | -5.41M▼ 283.8% | 7.76M▲ 243.3% | -12.08M▼ 255.8% | 794K▲ 106.6% | 14.39M▲ 1712.5% | 81.48M▲ 466.2% | -31.74M▼ 139.0% | -8.99M▲ 71.7% |
| Free Cash Flow | 16.02M▲ 0% | 8.72M▼ 45.5% | -7.25M▼ 183.2% | -8.43M▼ 16.2% | -44.31M▼ 425.8% | -117.62M▼ 165.4% | -97.35M▲ 17.2% | -76.2M▲ 21.7% | -22.87M▲ 70.0% |
| FCF Margin % | 4.86% | 2.52% | -2.15% | -2.71% | -14.56% | -36.62% | -28.69% | -21.04% | -5.86% |
| FCF Growth % | 122.42% | -45.53% | -183.15% | -16.17% | -425.77% | -165.43% | 17.23% | 21.72% | 69.99% |
| FCF per Share | 1.48 | 0.81 | -0.67 | -0.79 | -4.10 | -10.92 | -8.96 | -6.95 | -2.07 |
| FCF Conversion (FCF/Net Income) | 1.43x | 2.17x | 2.62x | 6.25x | 8.81x | -0.72x | 0.05x | 0.18x | 0.08x |
| Interest Paid | 3.59M | 3.71M | 4.79M | 3.57M | 4.49M | 10.29M | 24.74M | 37.96M | 43.78M |
| Taxes Paid | 7.82M | 6.8M | 7.94M | 8.93M | 8.83M | 3.88M | 4.93M | 7.65M | 0 |
TCX Key Ratios
Tucows Inc. (TCX) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 0.52% | 0.71% | 1.06% | 17.7% | 5.81% | 3.06% | -26.04% | -180.6% | - | - |
| Return on Invested Capital (ROIC) | 0.61% | 0.64% | 1.32% | 13.34% | 2.43% | -2.16% | -7.41% | -11.72% | -11.52% | -2.72% |
| Gross Margin | 33.22% | 25.66% | 27.97% | 29.89% | 27.47% | 25.73% | 24.37% | 32.08% | 22.92% | 23.11% |
| Net Margin | 8.46% | 6.78% | 4.95% | 4.57% | 1.86% | 1.11% | -8.59% | -28.35% | -30.33% | -19.43% |
| Debt / Equity | 0.00x | 0.02x | 0.81x | 1.32x | 1.27x | 1.79x | 2.65x | 57.55x | - | - |
| Interest Coverage | 56.83x | 7.75x | 8.08x | 6.15x | 3.98x | 2.57x | -0.90x | -1.41x | -0.87x | -0.26x |
| FCF Conversion | 1.35x | 1.43x | 2.17x | 2.62x | 6.25x | 8.81x | -0.72x | 0.05x | 0.18x | 0.08x |
| Revenue Growth | 9.76% | 73.54% | 5.04% | -2.56% | -7.69% | -2.21% | 5.52% | 5.67% | 6.76% | 7.74% |
TCX SEC Filings & Documents
Tucows Inc. (TCX) SEC filings — annual & quarterly reports (10-K, 10-Q)
TCX Frequently Asked Questions
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Growth & Financials
Tucows Inc. (TCX) reported $390.3M in revenue for fiscal year 2025. This represents a 27779% increase from $1.4M in 1996.
Tucows Inc. (TCX) grew revenue by 7.7% over the past year. This is steady growth.
Tucows Inc. (TCX) reported a net loss of $75.8M for fiscal year 2025.
Dividend & Returns
Tucows Inc. (TCX) had negative free cash flow of $23.1M in fiscal year 2025, likely due to heavy capital investments.
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