TONXNasdaqFinance ServicesFiscal year ends December 31
TON Strategy Co
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 11, 2026
$2.73+0.05 (+1.87%)
Close on Oct 19, 2026
- Market cap
- $160.18M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2013 to 2025
Gross margin
69.5%+17.7 pts over 5 years
Operating margin
-285.2%−36.9 pts over 5 years
Net margin
-1161.9%−911.5 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +1327.8% | +1069.0% | +5.1% | – | |
| Gross profit | +1224.1% | +13.2% | +11.5% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 147.1% | -224.9% | -70.3% | |
| Return on assets | -2484.8% | -82.0% | -68.8% | |
| Current ratio | 0.01 | 0.22 | 9.23 | |
| Debt to equity | – | 0.15 | – | |
| Net debt to EBITDA | – | 0.01× | – | |
| Interest coverage | -9.2× | -27.7× | -36442.0× | |
| Inventory turnover | – | 70.1× | – | |
| Capex to revenue | – | 3.2% | 0.7% | |
| Diluted shares | 0M | 0M | 25M |
Where the cash went
Fiscal 2021 to 2025, five years combined
TON Strategy generated $77.82M from operations and spent $21.09M on capital expenditure, dividends and share buybacks. 2% of that went back into the business.
Generated
$77.82M
Used
$21.09M
Capital expenditure$508.00K2%Dividends$00%Share buybacks$20.58M98%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-1161.9%
×Asset turnover0.06×
×Equity multiplier1.02×
=Return on equity, FY2025-70.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -1161.9% | 0.06× | 1.02× | -70.3% |
| FY2024 | -1154.1% | 0.06× | 1.63× | -106.9% |
| FY2023 | -34911.1% | 0.00× | 4.26× | -530.6% |
| FY2022 | -467962.5% | 0.00× | 3.19× | -405.0% |
| FY2021 | -327.7% | 0.31× | 2.78× | -286.6% |
| FY2020 | -250.4% | 0.33× | 2.74× | -224.9% |
| FY2019 | -174.9% | 0.62× | 4.58× | -498.2% |
| FY2018 | -37896.9% | 0.06× | -0.09× | 223.6% |
| FY2017 | -121100.0% | 0.06× | -0.02× | 157.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$148.48M
- Cash generatingOperating cash flow above zero-$20.77M
- Return on assets improvedROA up on the prior year-95.3% → -719.5%
- Earnings backed by cashOperating cash flow above net income-$20.77M vs -$148.48M
- Less leverageLong-term debt to assets fell0.5% → –
- Better liquidityCurrent ratio rose3.84 → 9.23
- No dilutionShare count did not rise1M → 25M
- Gross margin improvedGross margin up on the prior year74.97% → 69.53%
- More efficientAsset turnover rose0.08 → 0.62