TON Strategy Co. (TONX) Financial Ratios
14 years of historical data (2012–2025) · Financial Services · Asset Management
EV/EBITDA
N/A
—
5yr avg: N/A
P/FCF
N/A
—
5yr avg: N/A
P/B Ratio
↓
1.92
↓-12% vs avg
5yr avg: 2.16
30Y Low0.2·High5.9
ROE
↑
-70.3%
↓+75% vs avg
5yr avg: -280.1%
30Y Low-498%·High-70%
Debt/EBITDA
N/A
—
5yr avg: N/A
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
TONX Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
TON Strategy Co. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.8B | $500M | $4M | $1M | $16M | $79M | $59M | $31M | $47M | $12M | $1.3B |
| Enterprise Value | $1.8B | $460M | $-3278194 | $-802892 | $22M | $81M | $64M | $36M | $48M | $15M | $1.3B |
| P/E Ratio → | -0.52 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 141.21 | 39.10 | 4.33 | 18.57 | 1991.35 | 7.46 | 5.96 | 3.44 | 1465.73 | 1944.32 | — |
| P/B Ratio | 1.92 | 1.23 | 0.24 | 0.37 | 3.08 | 5.89 | 5.53 | 2.73 | — | — | — |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
TONX EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 36.03 | -3.66 | -12.74 | 2806.98 | 7.73 | 6.39 | 3.98 | 1508.26 | 2460.94 | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
TONX Profitability
Margins and return-on-capital ratios measuring operating efficiency
TON Strategy Co. earns an operating margin of -260.7%, below the Financial Services sector average of 20.3%. Operating margins have expanded from -21896.8% to -260.7% over the past 3 years, signaling improving operational efficiency. A negative ROE of -70.3% indicates the company is currently destroying shareholder equity.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 69.5% | 69.5% | 75.0% | 69.8% | 62.5% | 57.2% | 51.8% | 46.5% | -62.5% | -33.3% | — |
| Operating Margin | -260.7% | -260.7% | -1301.0% | -21896.8% | -235925.0% | -320.3% | -248.2% | -174.0% | -24350.0% | -78416.7% | — |
| Net Profit Margin | -1161.9% | -1161.9% | -1154.1% | -34911.1% | -467962.5% | -327.7% | -250.4% | -174.9% | -37896.9% | -121100.0% | — |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -70.3% | -70.3% | -107.9% | -530.6% | -405.0% | -286.6% | -224.9% | -498.2% | — | — | — |
| ROA | -68.8% | -68.8% | -65.6% | -124.5% | -127.1% | -103.0% | -82.0% | -108.8% | -2452.9% | -7452.1% | -2484.8% |
| ROIC | -11.8% | -11.8% | -79.4% | -105.4% | -90.6% | -149.0% | -108.6% | -166.4% | — | — | — |
| ROCE | -15.8% | -15.8% | -116.5% | -237.6% | -154.3% | -209.6% | -150.8% | -240.8% | — | — | — |
TONX Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
The company holds a net cash position — cash of $39M exceeds total debt of $209000, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.03 | 0.76 | 1.73 | 0.29 | 0.57 | 0.51 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.10 | -0.45 | -0.63 | 1.26 | 0.22 | 0.40 | 0.43 | — | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -148624.00 | -148624.00 | -44.58 | -5.61 | -10.32 | -12.39 | -37.63 | -7.63 | -5.19 | -6.47 | -4.78 |
Net cash position: cash ($39M) exceeds total debt ($209000)
TONX Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
TON Strategy Co.'s current ratio of 9.23x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 0.65x to 9.23x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 9.23 | 9.23 | 3.84 | 0.65 | 0.25 | 0.18 | 0.22 | 0.23 | 0.15 | 0.01 | 0.01 |
| Quick Ratio | 9.23 | 9.23 | 3.84 | 0.65 | 0.25 | 0.18 | 0.22 | 0.23 | 0.15 | 0.01 | 0.01 |
| Cash Ratio | 8.61 | 8.61 | 1.77 | 0.61 | 0.15 | 0.05 | 0.11 | 0.09 | 0.13 | 0.00 | 0.00 |
| Asset Turnover | — | 0.03 | 0.04 | 0.01 | 0.00 | 0.31 | 0.31 | 0.32 | 0.04 | 0.07 | — |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
TONX Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
TON Strategy Co. returns 1.5% to shareholders annually primarily through share buybacks.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 1.5% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 1.5% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $251M | $592478 | $33995 | $12135 | $7915 | $4501 | $2523 | $1233 | $992 | $132670 |
Peer Comparison
Compare TONX with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 TONXYou | $2B | -0.5 | — | — | 69.5% | -260.7% | -70.3% | -11.8% | — |
 MSTR | $37B | -7.2 | — | — | 68.7% | -1140.8% | -11.6% | -9.9% | — |
 SMLR | $311M | 4.0 | 14.0 | — | 91.5% | 37.2% | 27.0% | 13.3% | 0.0 |
 BTBT | $726M | -7.2 | — | — | 21.4% | -49.8% | -12.1% | -5.8% | — |
 HUT | $14B | -56.6 | — | — | -614.6% | -2104.6% | -16.9% | -13.8% | — |
 MARA | $6B | -4.0 | — | — | -47.7% | -90.6% | -34.5% | -9.0% | — |
 RIOT | $11B | -14.7 | — | — | -15.6% | -61.8% | -22.1% | -8.7% | — |
 CLSK | $4B | 15.6 | 7.9 | — | 41.6% | 41.6% | 18.5% | 10.3% | 1.2 |
 CIFR | $11B | -13.1 | — | — | 28.4% | -150.7% | -108.3% | -11.7% | — |
 IREN | $20B | 145.8 | 104.3 | — | 68.3% | 3.5% | 6.0% | 0.7% | 4.9 |
 COIN | $43B | 37.0 | 24.6 | 17.9 | 74.6% | 20.0% | 10.1% | 5.7% | 4.8 |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 14 years · Updated daily
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TONX — Frequently Asked Questions
Quick answers to the most common questions about buying TONX stock.
What is TON Strategy Co.'s P/E ratio?
TON Strategy Co.'s current P/E ratio is -0.5x. This places it at the 50th percentile of its historical range.
What is TON Strategy Co.'s ROE?
TON Strategy Co.'s return on equity (ROE) is -70.3%. The historical average is -265.5%.
Is TONX stock overvalued?
Based on historical data, TON Strategy Co. is trading at a P/E of -0.5x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are TON Strategy Co.'s profit margins?
TON Strategy Co. has 69.5% gross margin and -260.7% operating margin.