Tucows (TCX) Net Margin (2010 - 2026)
Tucows' Net Margin was -20.36% in Q2 2026, down 4.48 percentage points from -15.88% a year earlier and down 1.62 percentage points from the prior quarter.
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Analysis
Tucows (TCX) Net Margin (2010 - 2026) Analysis & Trends
On a trailing twelve-month basis, Tucows' Net Margin was -21.20% through Jun 30, 2026, up 4.04 percentage points year-over-year; for FY2025, it came in at -19.43%, up 10.90 percentage points from FY2024.
- Net Margin shows a five-year change of -21.28 percentage points (FY2020 to FY2025).
- In earlier years, Net Margin was -30.33% in FY2024 (-1.98 pp), -28.35% in FY2023 (-19.76 pp), -8.59% in FY2022 (-9.69 pp) and 1.11% in FY2021 (-0.75 pp).
- Quarterly Net Margin has moved between -45.62% (Q4 2024) and 1.81% (Q3 2021) over five years.
- Compared with a year earlier, Net Margin was higher in five of the last eight quarters, with an average year-over-year change of +2.42 percentage points.
- The best year-over-year quarter for Net Margin over five years was Q4 2025 (a gain of 23.30 percentage points); the worst was Q2 2023 (a drop of 32.68 percentage points).
- Per Business Quant data, TCX's Net Margin in the three quarters before Q2 2026 was -18.73% (Q1 2026), -22.33% (Q4 2025) and -23.36% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,781.98 Bn | 3,705.13 Bn | 60.48 Bn | 39.74% |
| 2 | International Business Machines | 207.92 Bn | 158.82 Bn | 9.91 Bn | 12.62% |
| 3 | Cloudflare | 114.07 Bn | 97.60 Bn | 499.52 Mn | -24.42% |
| 4 | Equinix | 99.76 Bn | 88.32 Bn | 1.40 Bn | 18.25% |
| 5 | Nebius | 58.67 Bn | 32.10 Bn | 448.70 Mn | -32.70% |
| 6 | CoreWeave | 46.87 Bn | 33.97 Bn | 1.70 Bn | -24.31% |
| 7 | Verisign | 25.50 Bn | 22.71 Bn | 384.60 Mn | 49.82% |
| 8 | Nutanix | 18.59 Bn | 10.27 Bn | 651.35 Mn | 167.85% |
| 9 | Akamai Technologies | 15.65 Bn | 9.06 Bn | 613.75 Mn | 7.22% |
| 10 | Tucows | 107.03 Mn | -82.27 Mn | 25.78 Mn | -20.36% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -20.36% |
| Mar 31, 2026 | -18.73% |
| Dec 31, 2025 | -22.33% |
| Sep 30, 2025 | -23.36% |
| Jun 30, 2025 | -15.88% |
| Mar 31, 2025 | -16.00% |
| Dec 31, 2024 | -45.62% |
| Sep 30, 2024 | -24.16% |
| Jun 30, 2024 | -20.80% |
| Mar 31, 2024 | -30.28% |
| Dec 31, 2023 | -26.88% |
| Sep 30, 2023 | -26.18% |
| Jun 30, 2023 | -36.44% |
| Mar 31, 2023 | -23.73% |
| Dec 31, 2022 | -17.04% |
| Sep 30, 2022 | -10.23% |
| Jun 30, 2022 | -3.76% |
| Mar 31, 2022 | -3.72% |
| Dec 31, 2021 | -2.38% |
| Sep 30, 2021 | 1.81% |
API Access
Tucows Net 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=net-margin&ticker=TCX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-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=net-margin&ticker=TCX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();