Valuation, from the filing
| Public float | $132.20M | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $11.88 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / revenue | 0.3× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
Valuation over time
84.4× earnings today, against a median of 32.8× across 6 years on record. Above its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2021-06-30 | $283.90M | 84.4× | |
| 2020-06-30 | $438.60M | 75.9× | |
| 2019-06-30 | $577.20M | 37.5× | |
| 2018-06-30 | $482.00M | 28.1× | |
| 2017-06-30 | $564.60M | 25.3× | |
| 2016-06-30 | $213.90M | 13.3× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the Services-Computer Processing & Data Preparation filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| R&D / revenue | 4.6% | 9th | |
| Gross margin | 24.1% | 10th | |
| SBC / revenue | 1.8% | 15th | |
| CapEx / revenue | 4.4% | 79th | |
| Current ratio | 0.61x | 25th | |
| FCF margin | -5.9% | 26th | |
| Revenue YoY growth | 7.7% | 40th | |
| Net margin | -19.4% | 41th | |
| Operating margin | -6.0% | 48th |
TUCOWS INC /PA/ (TCX) reported revenue of $394.44M and net income of -$83.63M for the fiscal year ended 2026-06-30. This page shows 1 annual period of income statement, balance sheet and cash flow figures normalized from TUCOWS INC /PA/’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Services-Computer Processing & Data Preparation.
Income
| Metric | 2026-06-30 |
|---|---|
| Revenue | $394.44M |
| Cost of revenue | $296.21M |
| Gross profit | $98.23M |
| Operating income | -$28.33M |
| Net income | -$83.63M |
| Research & development | $18.35M |
| Weighted-average diluted shares | Unavailable |
| Pretax income | -$74.03M |
| Income tax expense | $9.60M |
| Diluted EPS | Unavailable |
| Selling, general & administrative | $97.00M |
| General & administrative | $46.90M |
| Selling & marketing | $50.10M |
Balance
| Metric | 2026-06-30 |
|---|---|
| Cash & equivalents | $44.16M |
| Total assets | $727.70M |
| Current assets | $197.71M |
| Total liabilities | Unavailable |
| Current liabilities | $345.68M |
| Total equity incl. NCI | -$200.77M |
| Temporary (mezzanine) equity | Unavailable |
| Inventory | $3.97M |
| Accounts receivable | $23.07M |
| Goodwill | $130.41M |
| Long-term debt | Unavailable |
| Accounts payable | $9.06M |
Cash flow
| Metric | 2026-06-30 |
|---|---|
| Operating cash flow | $4.39M |
| Capital expenditures | $18.79M |
| Investing cash flow | -$9.86M |
| Financing cash flow | -$2.92M |
| Net change in cash | -$8.40M |
| Stock-based compensation | $6.51M |
| Common dividends paid | Unavailable |
| Common share repurchases | Unavailable |
| Depreciation & amortization | $3.75M |
Derived
| Metric | 2026-06-30 |
|---|---|
| Free cash flow | -$14.40M |
| Gross margin | 24.9% |
| Operating margin | -7.2% |
| FCF margin | -3.7% |
| SBC / revenue | 1.6% |
| Current ratio | 0.57x |
| Revenue YoY growth | 4.2% |
| Net margin | -21.2% |
| R&D / revenue | 4.7% |
| CapEx / revenue | 4.8% |
| Long-term debt / equity | Unavailable |
| Effective tax rate | Unavailable |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open TCX in the interactive workspace to inspect any figure back to its filing.
Source filings
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.