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TON Strategy Co

TONX

$2.87 ▼ -0.03 (-1.21%) at close

14 Visible periods

28 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Poor

Bearish

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Analytical Summary

TON Strategy Co faces fundamental challenges with weakness in Return on Common Equity (%). The fundamentals warrant careful consideration of downside risks.

Market Cap $72.1M

Dividend Yield —

Revenue Growth 1327.8% →

Op. Margin -285.2%

ROIC -9.0% ↗

FCF / Share $-0.83 ↗

Trailing P/E —

Price / Book 0.4x

FCF Yield —

Debt / Equity —

info Valuation on last close. End-of-day price, Nov 5, 2026.

14-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$12.78M

↑ +1327.8% —

Net Income Profit after all expenses

$-148.48M

↓ -1337.5% —

Operating Margin Operating profit as % of sales

-285.2%

↑ +30.6% 0th

FCF / Share Free cash flow per share

$-0.83

↑ +94.6% —

trending_up

Bullish Indicators

No bullish signals detected.

warning

Bearish Risks

Operating Margin (%)Operating Margin (%) is in the bottom quartile
Return on Common Equity (%)Return on Common Equity (%) is in the bottom quartile

Health Breakdown

Profitability ↓

Returns ↑

Financial Health ↓

Cash Quality ↓

Financial view

Statement lens

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📈 Is growth accelerating? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗
Revenue Growth YoY (%)	1327.8% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+22030%)	1320.6% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+21911%)	-99.3% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-1756%)	-10.3% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-272%)	5.6% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-7%)	9.5% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+58%)	28337.5% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+472192%)	433.3% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+7122%)	—	—	—	—	—	—
EPS Growth YoY (%)	69.2% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	95.6% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	-113100.0% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	—	—	—	—	—	—	—	—	—	—	—
Net Income Growth YoY (%)	-1337.5% Weak ↓ Weak Declining Year-over-year change in net income	53.0% Excellent ↑ Excellent Improving Year-over-year change in net income	41.3% Excellent ↑ Excellent Improving Year-over-year change in net income	-8.6% Weak ↑ Weak Improving Year-over-year change in net income	-38.2% Weak ↑ Weak Improving Year-over-year change in net income	-56.8% Weak → Weak Stable Year-over-year change in net income	-31.3% Weak → Weak Stable Year-over-year change in net income	-66.9% Weak ↓ Weak Declining Year-over-year change in net income	-70.0% Weak ↓ Weak Declining Year-over-year change in net income	38.5% Excellent ↑ Excellent Improving Year-over-year change in net income	-34.3% Weak Weak Year-over-year change in net income	-13.0% Weak Weak Year-over-year change in net income	—	—
FCF Growth YoY (%)	94.6% Excellent Excellent Year-over-year change in free cash flow	—	—	—	—	—	—	—	—	—	—	—	—	—
Revenue CAGR 3Y (%)	10.6% Good ↑ Good Improving Compound annual revenue growth over 3 years	-56.0% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-81.5% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	1.2% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	590.3% Excellent Excellent Compound annual revenue growth over 3 years	1084.2% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—	—	—	—	—	—
Revenue CAGR 5Y (%)	5.1% Fair ↓ Fair Declining Compound annual revenue growth over 5 years	-37.1% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	14.5% Excellent Excellent Compound annual revenue growth over 5 years	335.8% Excellent Excellent Compound annual revenue growth over 5 years	—	—	—	—	—	—	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗
Operating Margin (%) (%)	-285.2% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1241%)	—	—	-411.1% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1745%)	-320.3% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1381%)	-248.2% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1093%)	-174.0% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-796%)	—	—	—	—	—	—	—
Effective Tax Rate (%) (%)	0.2% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—	-0.0% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.0% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.0% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—	—	—	—	—
Profit Margin (%) (%)	—	—	—	-396.8% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1904%)	-327.7% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1589%)	-250.4% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1238%)	-174.9% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-895%)	—	—	—	—	—	—	—
FCF Margin (%) (%)	-163.2% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	—	—	-205.9% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-246.0% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-166.7% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	-90.8% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	—	—	—	—	—	—	—
FCF / Net Income (x)	0.14x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.88x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	—	0.52x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.75x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	0.67x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	0.52x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	0.34x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	0.23x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—	—	—	—	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗
Return on Invested Capital (%)	-9.0% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-56.8% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-348.7% Weak → Weak Stable Return earned on debt + equity capital invested Optimal: > 10%	-593.2% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-253.1% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-230.2% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-138.4% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	121.8% Excellent → Excellent Stable Return earned on debt + equity capital invested Optimal: > 10%	64.2% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	71.3% Excellent ↓ Excellent Declining Return earned on debt + equity capital invested Optimal: > 10%	229.4% Excellent ↓ Excellent Declining Return earned on debt + equity capital invested Optimal: > 10%	-190.8% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	3771.3% Excellent Excellent Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	-8.9% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-56.4% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-127.3% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-158.4% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-97.9% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-76.0% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-55.8% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-867.7% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-5114.1% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-3004.7% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-2836.9% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-200.5% Weak Weak Operating profit relative to total assets Optimal: > 10%	-2777.6% Weak Weak Operating profit relative to total assets Optimal: > 10%	—
Return on Common Equity (%) (%)	-36.5% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-404%)	-63.8% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-631%)	—	—	-258.9% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-2257%)	-232.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-2035%)	-139.1% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-1259%)	239.9% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+1899%)	125.5% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+946%)	123.2% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+927%)	296.9% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+2374%)	-257.1% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-2242%)	—	—

⚖️ Is the balance sheet risky? 2 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗
Interest Coverage (x)	-36442.00x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-2328.80x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-34.57x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-13.16x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-13.09x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-27.67x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-85.13x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-21.52x Weak → Weak Stable Operating income divided by interest expense Optimal: > 5x	-8.48x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-9.19x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-44.77x Weak Weak Operating income divided by interest expense Optimal: > 5x	-15.48x Weak Weak Operating income divided by interest expense Optimal: > 5x	—	—
Net Debt (USD)	$-39.49M	$-7.62M	—	$-2.43M	$-937.00K	$-1.81M	$-983.00K	$-634.00K	$-11.00K	$-16.76K	$-103.02K	$-1.17M	$-124.22K	—

📊 What does each share earn? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗
Revenue per Share (USD)	$0.51	$1.51	—	$0.10	—	—	—	—	—	—	—	—	—	—
Basic EPS, GAAP (USD)	$-5.96	$-19.36	$-441.48	$-0.39	—	—	—	—	—	—	—	—	—	—
Free Cash Flow per Share (USD)	$-0.83	$-15.37	—	$-0.20	—	—	—	—	—	—	—	—	—	—
Book Value per Share (USD)	$7.19	$16.31	$29.44	$0.04	$0.18	$0.22	$0.47	$-0.42	$-0.73	$-0.04	$-0.04	$0.03	$-0.00	—
Tangible Book Value per Share (USD)	$7.10	$16.14	$28.34	$-0.04	$-0.14	$-0.30	$-0.42	$-0.42	$-0.73	$-0.04	$-0.04	$0.03	$-0.00	—
Basic Weighted Avg Shares (shares)	25.11M	592,478	33,995	97.08M	—	—	—	—	—	—	—	—	—	—

🏦 How resilient is the balance sheet? 2 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗
Working Capital (USD)	$37.77M	$12.17M	$-2.50M	$-12.47M	$-14.74M	$-13.21M	$-8.62M	$-4.17M	$-5.83M	$-3.54M	$-1.06M	$1.69M	$-123.67K	—
Total Equity (USD)	$406.49M	$16.20M	$3.12M	$5.17M	$13.32M	$10.74M	$11.45M	$-5.05M	$-5.79M	$-3.47M	$-2.34M	$2.01M	$-95.97K	$-95.13K

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗
Sales/Revenue/Turnover (USD)	$12.78M	$895.00K	$63.00K	$9.44M	$10.52M	$9.96M	$9.10M	$32.00K	$6.00K	—	—	—	—	—
Depreciation Expense (USD)	$1.30M	$1.08M	$2.33M	$2.53M	$1.68M	$1.51M	$1.04M	$20.00K	$22.00K	$21.30K	$362.63K	$14.67K	$1.65K	—
Net Income, GAAP (USD)	$-148.48M	$-10.33M	$-21.99M	$-37.44M	$-34.49M	$-24.96M	$-15.92M	$-12.13M	$-7.27M	$-4.27M	$-6.96M	$-5.18M	$-4.58M	—
Operating Cash Flow (USD)	$-20.77M	$-8.77M	—	$-19.41M	$-25.86M	$-16.29M	$-8.12M	$-4.16M	$-1.68M	—	—	—	—	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced 4 days ago 14 years · 58 quarters

TON Strategy Co

Analytical Summary

14-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

Statement lens

Benchmark Lens

Signals

Percentile Rankings

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