Tucows (TCX) FCF Margin (2010 - 2026)
Tucows (TCX) reported FCF Margin of -3.10% for Q2 2026, down 6.25 percentage points from 3.15% a year earlier and down 1.03 percentage points from the prior quarter.
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Analysis
Tucows (TCX) FCF Margin (2010 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Tucows' FCF Margin came in at -3.65%, up 9.33 percentage points year-over-year; for FY2025, it came in at -5.86%, up 15.18 percentage points from FY2024.
- FCF Margin has increased for three consecutive years, though with a five-year change of -3.18 percentage points (FY2020 to FY2025).
- By year, FCF Margin came in at -21.04% in FY2024 (+7.50 pp), -28.53% in FY2023 (+7.85 pp), -36.38% in FY2022 (-22.07 pp) and -14.31% in FY2021 (-11.62 pp).
- Five-year quarterly FCF Margin spans a low of -61.09% in Q3 2022 and a high of 3.15% in Q2 2025.
- Year over year, FCF Margin gained in six of the last eight quarters, with an average year-over-year change of +8.97 percentage points.
- The high point for year-over-year FCF Margin in five years was Q4 2023 (a gain of 36.41 percentage points); the low point was Q3 2022 (a drop of 43.97 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at -2.07% (Q1 2026), -7.06% (Q4 2025) and -2.35% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,781.98 Bn | 3,705.13 Bn | 60.48 Bn | 21.82% |
| 2 | International Business Machines | 207.92 Bn | 158.82 Bn | 9.91 Bn | 13.80% |
| 3 | Cloudflare | 114.07 Bn | 97.60 Bn | 499.52 Mn | 9.71% |
| 4 | Equinix | 99.76 Bn | 88.32 Bn | 1.40 Bn | -19.47% |
| 5 | Nebius | 58.67 Bn | 32.10 Bn | 448.70 Mn | 1,357.29% |
| 6 | CoreWeave | 46.87 Bn | 33.97 Bn | 1.70 Bn | -223.03% |
| 7 | Verisign | 25.50 Bn | 22.71 Bn | 384.60 Mn | 48.96% |
| 8 | Nutanix | 18.59 Bn | 10.27 Bn | 651.35 Mn | 36.66% |
| 9 | Akamai Technologies | 15.65 Bn | 9.06 Bn | 613.75 Mn | 16.49% |
| 10 | Tucows | 107.03 Mn | -82.27 Mn | 25.78 Mn | -3.10% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -3.10% |
| Mar 31, 2026 | -2.07% |
| Dec 31, 2025 | -7.06% |
| Sep 30, 2025 | -2.35% |
| Jun 30, 2025 | 3.15% |
| Mar 31, 2025 | -17.64% |
| Dec 31, 2024 | -17.68% |
| Sep 30, 2024 | -20.67% |
| Jun 30, 2024 | -23.11% |
| Mar 31, 2024 | -22.87% |
| Dec 31, 2023 | -6.41% |
| Sep 30, 2023 | -33.93% |
| Jun 30, 2023 | -29.12% |
| Mar 31, 2023 | -46.00% |
| Dec 31, 2022 | -42.82% |
| Sep 30, 2022 | -61.09% |
| Jun 30, 2022 | -21.32% |
| Mar 31, 2022 | -21.76% |
| Dec 31, 2021 | -15.20% |
| Sep 30, 2021 | -17.12% |
API Access
Tucows FCF 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=fcf-margin&ticker=TCX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-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=fcf-margin&ticker=TCX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();