Tucows (TCX) Net Margin (2010 - 2026)
Tucows' (TCX) quarterly Net Margin came in at 18.73% in Q1 2026, down 273.0% year-on-year from 10.82% in Q1 2025, and down 36.65% quarter-over-quarter from 13.7% in Q4 2025.
Tucows (TCX) Net Margin (2010 - 2026) Analysis & Trends
Tucows' Net Margin history runs 17 years deep, the most recent figure standing at 18.73% for Q1 2026.
- On a quarterly basis, Net Margin fell 273.0% year-over-year to 18.73% in Q1 2026; TTM through Mar 2026 was 17.93%, a 1142.0% increase from a year earlier, with the FY2025 full-year figure at 17.25%, up 1582.0% from the prior year.
- Net Margin retreated to 18.73% in Q1 2026 per TCX's latest filing, from 13.7% in the prior quarter.
- Across five years, Net Margin topped out at 3.62% in Q1 2022 and bottomed at 56.28% in Q4 2024.
- The 5-year median for Net Margin is 20.78% (2024), against an average of 23.33%.
- Across the five-year window, Net Margin slumped 3885 bps in 2023 and surged 4257 bps in 2025, its largest moves.
- Year by year, Net Margin stood at 17.2% in 2022, then plunged by 226 bps to 56.06% in 2023, then retreated by 0 bps to 56.28% in 2024, then soared by 76 bps to 13.7% in 2025, then tumbled by 37 bps to 18.73% in 2026.
- Per Business Quant, the three latest TCX Net Margin figures stand at 18.73% (Q1 2026), 13.7% (Q4 2025), and 23.39% (Q3 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 2,895.32 Bn | 2,770.88 Bn | 56.06 Bn | 38.34% |
| 2 | PagSeguro Digital | 2,672.75 Bn | 2,672.75 Bn | 358.92 Mn | 13.90% |
| 3 | Repay Holdings | 344.36 Bn | 344.21 Bn | - | - |
| 4 | Oracle | 339.20 Bn | 307.30 Bn | - | 30.88% |
| 5 | Palantir Technologies | 296.91 Bn | 288.89 Bn | 1.42 Bn | 53.68% |
| 6 | Palo Alto Networks | 225.55 Bn | 221.01 Bn | 1.91 Bn | 16.65% |
| 7 | CrowdStrike Holdings | 185.68 Bn | 182.58 Bn | 993.68 Mn | 4.71% |
| 8 | Fortinet | 109.83 Bn | 106.54 Bn | 1.49 Bn | 28.90% |
| 9 | Cloudflare | 95.19 Bn | 94.25 Bn | 455.60 Mn | -3.58% |
| 10 | Tucows | 101.68 Mn | 57.37 Mn | 24.13 Mn | -18.73% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -18.73% |
| Dec 31, 2025 | -13.70% |
| Sep 30, 2025 | -23.39% |
| Jun 30, 2025 | -15.92% |
| Mar 31, 2025 | -16.00% |
| Dec 31, 2024 | -56.28% |
| Sep 30, 2024 | -24.19% |
| Jun 30, 2024 | -20.78% |
| Mar 31, 2024 | -30.27% |
| Dec 31, 2023 | -56.06% |
| Sep 30, 2023 | -26.21% |
| Jun 30, 2023 | -36.44% |
| Mar 31, 2023 | -23.75% |
| Dec 31, 2022 | -17.20% |
| Sep 30, 2022 | -10.22% |
| Jun 30, 2022 | -3.82% |
| Mar 31, 2022 | -3.62% |
| Dec 31, 2021 | 2.22% |
| Sep 30, 2021 | 0.65% |
| Jun 30, 2021 | 1.06% |