TONX vs WEWA vs BLSH Stock Comparison

TON Strategy, Wewards and Bullish Prices as of Oct 28, 2026 Peers: Industry group
TONX TON Strategy Co
$3.35 -15.8% 1M -19.5% 1Y
Market cap
$192.09M
P/E
–
Revenue (TTM)
—
Div. yield
–
Blockchain Infrastructure Technology
WEWA Wewards, Inc.
$2.00 0.0% 1M -5.2% 1Y
Market cap
$214.97M
P/E
–
Revenue (TTM)
—
Div. yield
–
Blockchain Infrastructure Technology
3 wins
BLSH Bullish
$28.74 -20.1% 1M -46.8% 1Y
Market cap
$3.63B
P/E
–
Revenue (TTM)
$190.34B
Div. yield
–
Blockchain Infrastructure Technology
1 win

Head to Head

4 decided of 12

Wewards leads on 3 of the 12 questions below (Wewards 3, Bullish 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionTONXWEWABLSHLeader
Larger companyMarket capitalisation $192.09M $214.97M $3.63B BLSH
Cheaper on earningsLower P/E, profitable companies only — -599.4x -2.6x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS — — 68.4x –
Faster revenue growthRevenue growth, trailing twelve months — — -26.5% –
More profitableNet margin, trailing twelve months — — -0.7% –
Better return on capitalReturn on invested capital — — -4.8% –
Less leveragedLower net debt / EBITDA — — 2.6x –
Higher dividend yieldTrailing dividend yield 0.00% — 0.00% –
Better 1-year returnPrice return, last 12 months -19.5% -5.2% -46.8% WEWA
Better 5-year returnAnnualised price return, 5 years -81.8%/yr +131.8%/yr — WEWA
Less volatileAnnualised volatility, 1 year 102.4% 5.4% 73.0% WEWA
Higher overall scoreMean of the five percentile scores vs peers — — 63/100 –

Percentile Scorecard

TONXWEWABLSH

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisTONXWEWABLSH
Valuation – 41 #59 of 99 76 #25 of 99
Growth – 84 #16 of 94 33 #63 of 94
Profitability – – 48 #47 of 90
Financial Health – – 95 #6 of 105
Shareholder Returns – – –
Overall – – 63
  • TONX ranked among 109 companies in Fintech
  • WEWA ranked among 109 companies in Fintech
  • BLSH ranked among 109 companies in Fintech

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodTONXWEWABLSHSPY
1 month -15.8%0.0%-20.1% +0.9%
3 months +12.4%0.0%+31.5% +5.9%
6 months +62.6%0.0%-21.3% +8.5%
Year to date +68.3%-5.2%-24.1% +13.3%
1 year -19.5%-5.2%-46.8% +12.4%
3 years -94.7%-1.0%— +88.1%
3 years, per year -62.6%-0.3%— +23.5%
5 years -100.0%+6,566.7%— +68.2%
5 years, per year -81.8%+131.8%— +11.0%
10 years -100.0%+9,900.0%— +263.4%
10 years, per year -56.1%+58.5%— +13.8%

Risk

MeasureTONXWEWABLSHSPY
Volatility, 1Y 102.4%5.4%73.0% 12.7%
Downside volatility, 1Y 93.5%—70.5% 12.7%
Beta vs S&P 500, 1Y 2.810.012.74 1.00
Return / volatility, 1Y -0.19-0.97-0.64 0.98
Max drawdown, 5Y -100.0%-9.1%-70.8% -25.4%
From 52-week high -22.3%-5.2%-46.8% -0.9%
52-week high $4.31$2.11$54.01 $779.14
52-week low $1.80$2.00$21.79 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleTONXWEWABLSH
P/E now vs peer median —median 19.6x -599.4xmedian 19.6x -2.7xmedian 19.6x
P/S now vs peer median —median 2.3x —median 2.3x 0.0xmedian 2.3x
EV/EBITDA now vs peer median —median 17.5x —median 17.5x -34.0xmedian 17.5x
P/FCF now vs peer median —median 15.9x -5,608xmedian 15.9x 38.1xmedian 15.9x
P/B now vs peer median —median 2.0x 2,866,225xmedian 2.0x 1.8xmedian 2.0x
PEG now vs peer median —median 1.01 -27.22median 1.01 —median 1.01

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsTONXWEWABLSH
Revenue – – $190.34B
Gross profit – – $71.94M
Operating income – -$66.83K -$124.59M
Net income – -$358.65K -$1.43B
Free cash flow – -$38.34K $113.88M
EPS (diluted) – $0.00 $-10.84
Cash & equivalents – – $86.61M
Total debt – – $11.00K
Shares (diluted) 58.67M 107.48M 127.72M
Enterprise value $192.09M $214.97M -$1.19B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricTONXWEWABLSH
P/E – -599.4x -2.7x
P/FCF – -5,608x 38.1x
P/Operating cash flow – -5,608x 35.2x
P/S – – 0.0x
P/B – 2,866,225x 1.8x
P/Tangible book – 2,866,225x 1.8x
EV/EBITDA – – -34.0x
EV/EBIT – -3,217x -32.3x
EV/Revenue – – 0.0x
EV/FCF – -5,608x 35.3x
EV/Operating cash flow – -5,608x 32.7x
PEG (3Y EPS CAGR) – -27.22 –

Growth

14 metrics
MetricTONXWEWABLSH
Revenue growth (1Y) – – -26.5%
Revenue CAGR (3Y) – – –
Gross profit growth (1Y) – – -17.9%
Gross profit CAGR (3Y) – – –
Operating income growth (1Y) – 24.0% -57.2%
Operating income CAGR (3Y) – 35.2% –
Net income growth (1Y) – 39.7% -858.6%
Net income CAGR (3Y) – 22.0% –
EPS growth (1Y) – 39.7% -755.9%
EPS CAGR (3Y) – 22.0% –
Operating cash flow growth (1Y) – 45.2% 190.7%
Operating cash flow CAGR (3Y) – 46.2% –
Free cash flow growth (1Y) – 45.2% 171.4%
Free cash flow CAGR (3Y) – 46.2% –

Profitability

14 metrics
MetricTONXWEWABLSH
Gross margin – – 0.0%
EBITDA margin – – -0.1%
Operating margin – – -0.1%
Pretax margin – – -0.8%
Net margin – – -0.7%
FCF margin – – 0.1%
Operating cash flow margin – – 0.1%
Return on equity – – -55.4%
Return on assets – -191,282% -44.5%
Return on invested capital – – -4.8%
Return on capital employed – – -4.0%
Asset turnover – – 59.3x
Cash conversion (OCF / net income) – 0.1x -0.1x
Stock comp / revenue – – 0.0%

Financial Health

11 metrics
MetricTONXWEWABLSH
Debt / assets – – 0.0%
Debt / equity – – 0.0x
Net debt / EBITDA – – 2.6x
Debt / FCF – – 0.0x
Liabilities / assets – – 20.6%
Equity / assets – 100.0% 79.4%
Interest coverage – -0.2x -2.2x
Current ratio – – 23.5x
Quick ratio – – 2.5x
Cash ratio – – 2.5x
Altman Z-score – – 65.10

Shareholder Returns

7 metrics
MetricTONXWEWABLSH
Dividend yield – – –
Net buyback yield – – –
Shareholder yield – – –
Payout ratio (earnings) – – –
Payout ratio (FCF) – – –
Dividend growth (1Y) – – –
Dividend CAGR (3Y) – – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusTONXWEWABLSH
Forward P/E – – 68.4xFY2026
EPS, next fiscal year $-4.95FY2026 – $0.42FY2026
EPS growth, next FY – – +40.0%FY2026
EPS growth, the year after – – +95.2%
Revenue, next fiscal year $118.07MFY2027 – $364.64MFY2026
Revenue growth, next FY +823.9%FY2027 – +26.4%FY2026
Revenue growth, the year after – – +5.7%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersTONXWEWABLSH
Held by institutions 58.2% – 32.8%
Institutions holding 40 – 175
Change in shares held, QoQ +119.1% – +7.8%
Institutions buying 21 – 87
Institutions selling 11 – 70
Buyers to sellers 1.91 – 1.24

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

TONXWEWABLSH
TONX 1.00 0.03 0.49
WEWA 0.03 1.00 0.08
BLSH 0.49 0.08 1.00

Add a Peer

Largest companies in the same industry

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Frequently Asked Questions

Which is bigger, TONX, WEWA and BLSH?

Bullish (BLSH) is the largest by market capitalisation: TON Strategy (TONX) $192.09M, Wewards (WEWA) $214.97M, Bullish (BLSH) $3.63B.

Which stock has performed better?

Over the past year Wewards (WEWA) returned the most: TON Strategy (TONX) -19.5%, Wewards (WEWA) -5.2%, Bullish (BLSH) -46.8%. Over five years, Wewards (WEWA) compounded fastest (TON Strategy (TONX) -81.8%/yr, Wewards (WEWA) +131.8%/yr). Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, Wewards (WEWA) has been the steadiest (TON Strategy (TONX) 102.4%, Wewards (WEWA) 5.4%, Bullish (BLSH) 73.0%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, TONX, WEWA and BLSH?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Wewards (WEWA) leads on 3. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.