Tucows (TCX) Return on Capital Employed [ROCE] (2011 - 2026)
Tucows (TCX) reported Return on Capital Employed [ROCE] of -7.40% for Q2 2026, up 0.87 percentage points from -8.28% a year earlier but down 0.85 percentage points from the prior quarter.
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Analysis
Tucows (TCX) Return on Capital Employed [ROCE] (2011 - 2026) Analysis & Trends
For FY2025, Tucows posted Return on Capital Employed [ROCE] of -5.67%, up 5.57 percentage points from FY2024.
- Return on Capital Employed [ROCE] has a five-year change of -8.17 percentage points (FY2020 to FY2025).
- By year, Return on Capital Employed [ROCE] came in at -11.23% in FY2024 (+0.77 pp), -12.00% in FY2023 (-4.36 pp), -7.65% in FY2022 (-5.23 pp) and -2.41% in FY2021 (-4.92 pp).
- Five-year quarterly Return on Capital Employed [ROCE] spans a low of -11.23% in Q4 2024 and a high of -2.27% in Q4 2021.
- Year over year, Return on Capital Employed [ROCE] has now increased in each of the last six quarters, with an average year-over-year change of +1.65 percentage points over the last eight quarters.
- The high point for year-over-year Return on Capital Employed [ROCE] in five years was Q4 2025 (a gain of 5.40 percentage points); the low point was Q3 2021 (a drop of 8.79 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at -6.55% (Q1 2026), -5.83% (Q4 2025) and -8.15% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,843.70 Bn | 3,766.85 Bn | 60.48 Bn | 27.85% |
| 2 | International Business Machines | 209.74 Bn | 160.64 Bn | 9.91 Bn | 9.40% |
| 3 | Cloudflare | 112.41 Bn | 95.94 Bn | 499.52 Mn | -9.60% |
| 4 | Equinix | 101.21 Bn | 89.76 Bn | 1.40 Bn | 5.75% |
| 5 | Nebius | 61.44 Bn | 34.87 Bn | 448.70 Mn | -2.94% |
| 6 | CoreWeave | 49.38 Bn | 36.47 Bn | 1.70 Bn | -0.51% |
| 7 | Verisign | 26.06 Bn | 23.28 Bn | 384.60 Mn | - |
| 8 | Nutanix | 19.56 Bn | 11.24 Bn | 651.35 Mn | 10.69% |
| 9 | Akamai Technologies | 15.64 Bn | 9.05 Bn | 613.75 Mn | 4.33% |
| 10 | Tucows | 104.80 Mn | -84.51 Mn | 25.78 Mn | -7.40% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -7.40% |
| Mar 31, 2026 | -6.55% |
| Dec 31, 2025 | -5.83% |
| Sep 30, 2025 | -8.15% |
| Jun 30, 2025 | -8.28% |
| Mar 31, 2025 | -9.07% |
| Dec 31, 2024 | -11.23% |
| Sep 30, 2024 | -8.84% |
| Jun 30, 2024 | -10.33% |
| Mar 31, 2024 | -10.82% |
| Dec 31, 2023 | -10.52% |
| Sep 30, 2023 | -9.46% |
| Jun 30, 2023 | -9.28% |
| Mar 31, 2023 | -9.17% |
| Dec 31, 2022 | -6.78% |
| Sep 30, 2022 | -4.62% |
| Jun 30, 2022 | -8.95% |
| Mar 31, 2022 | -3.12% |
| Dec 31, 2021 | -2.27% |
| Sep 30, 2021 | -2.34% |
API Access
Tucows Return on Capital Employed [ROCE] 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=return-on-capital-employed-%5Broce%5D&ticker=TCX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "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=return-on-capital-employed-%5Broce%5D&ticker=TCX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();