Tucows (TCX) EBITDA Margin (2010 - 2026)
Tucows (TCX) reported EBITDA Margin of -4.65% for Q2 2026, down 2.57 percentage points from -2.08% a year earlier and down 11.45 percentage points from the prior quarter.
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Analysis
Tucows (TCX) EBITDA Margin (2010 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Tucows' EBITDA Margin came in at 1.73%, up 4.19 percentage points year-over-year; for FY2025, it was 6.12%, up 11.41 percentage points from FY2024.
- EBITDA Margin has a five-year change of -4.13 percentage points (FY2020 to FY2025).
- By year, EBITDA Margin came in at -5.28% in FY2024 (-0.51 pp), -4.78% in FY2023 (-7.29 pp), 2.52% in FY2022 (-3.91 pp) and 6.42% in FY2021 (-3.83 pp).
- The Q2 2026 figure ranks as the lowest quarterly EBITDA Margin since Q4 2024.
- Year over year, EBITDA Margin gained in four of the last eight quarters, with an average year-over-year change of +2.53 percentage points.
- The high point for year-over-year EBITDA Margin in five years was Q4 2025 (a gain of 22.00 percentage points); the low point was Q4 2024 (a drop of 14.79 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 6.80% (Q1 2026), 2.78% (Q4 2025) and 2.22% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,781.98 Bn | 3,705.13 Bn | 60.48 Bn | 57.36% |
| 2 | International Business Machines | 207.92 Bn | 158.82 Bn | 9.91 Bn | 23.10% |
| 3 | Cloudflare | 114.07 Bn | 97.60 Bn | 499.52 Mn | -15.49% |
| 4 | Equinix | 99.76 Bn | 88.32 Bn | 1.40 Bn | 46.55% |
| 5 | Nebius | 58.67 Bn | 32.10 Bn | 448.70 Mn | 14.39% |
| 6 | CoreWeave | 46.87 Bn | 33.97 Bn | 1.70 Bn | 52.19% |
| 7 | Verisign | 25.50 Bn | 22.71 Bn | 384.60 Mn | 69.70% |
| 8 | Nutanix | 18.59 Bn | 10.27 Bn | 651.35 Mn | 11.50% |
| 9 | Akamai Technologies | 15.65 Bn | 9.06 Bn | 613.75 Mn | 24.17% |
| 10 | Tucows | 107.03 Mn | -82.27 Mn | 25.78 Mn | -4.65% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -4.65% |
| Mar 31, 2026 | 6.80% |
| Dec 31, 2025 | 2.78% |
| Sep 30, 2025 | 2.22% |
| Jun 30, 2025 | -2.08% |
| Mar 31, 2025 | 10.48% |
| Dec 31, 2024 | -19.22% |
| Sep 30, 2024 | 0.76% |
| Jun 30, 2024 | 3.28% |
| Mar 31, 2024 | -5.59% |
| Dec 31, 2023 | -4.43% |
| Sep 30, 2023 | -6.35% |
| Jun 30, 2023 | -2.11% |
| Mar 31, 2023 | -7.43% |
| Dec 31, 2022 | -2.72% |
| Sep 30, 2022 | 0.78% |
| Jun 30, 2022 | 5.90% |
| Mar 31, 2022 | 4.70% |
| Dec 31, 2021 | 7.81% |
| Sep 30, 2021 | 4.64% |
API Access
Tucows EBITDA Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ebitda-margin&ticker=TCX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "ticker": "TCX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ebitda-margin&ticker=TCX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();