Tucows (TCX) Return on Invested Capital [ROIC] (2011 - 2026)
Tucows (TCX) reported Return on Invested Capital [ROIC] of -27.75% for Q2 2026, down 2.03 percentage points from -25.73% a year earlier and down 6.18 percentage points from the prior quarter.
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Analysis
Tucows (TCX) Return on Invested Capital [ROIC] (2011 - 2026) Analysis & Trends
For FY2025, Tucows posted Return on Invested Capital [ROIC] of -14.69%, up 15.90 percentage points from FY2024.
- Return on Invested Capital [ROIC] has a five-year change of -16.40 percentage points (FY2020 to FY2025).
- By year, Return on Invested Capital [ROIC] came in at -30.59% in FY2024 (-9.68 pp), -20.90% in FY2023 (-11.11 pp), -9.80% in FY2022 (-8.44 pp) and -1.35% in FY2021 (-3.06 pp).
- Five-year quarterly Return on Invested Capital [ROIC] spans a low of -30.53% in Q4 2024 and a high of 0.00% in Q1 2022.
- Year over year, Return on Invested Capital [ROIC] gained in four of the last eight quarters, with an average year-over-year change of +0.98 percentage points.
- The high point for year-over-year Return on Invested Capital [ROIC] in five years was Q4 2025 (a gain of 13.39 percentage points); the low point was Q3 2023 (a drop of 16.73 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at -21.58% (Q1 2026), -17.14% (Q4 2025) and -28.19% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,843.70 Bn | 3,766.85 Bn | 60.48 Bn | 26.70% |
| 2 | International Business Machines | 209.74 Bn | 160.64 Bn | 9.91 Bn | 11.34% |
| 3 | Cloudflare | 112.41 Bn | 95.94 Bn | 499.52 Mn | -12.36% |
| 4 | Equinix | 101.21 Bn | 89.76 Bn | 1.40 Bn | 5.65% |
| 5 | Nebius | 61.44 Bn | 34.87 Bn | 448.70 Mn | -3.32% |
| 6 | CoreWeave | 49.38 Bn | 36.47 Bn | 1.70 Bn | -1.20% |
| 7 | Verisign | 26.06 Bn | 23.28 Bn | 384.60 Mn | - |
| 8 | Nutanix | 19.56 Bn | 11.24 Bn | 651.35 Mn | - |
| 9 | Akamai Technologies | 15.64 Bn | 9.05 Bn | 613.75 Mn | - |
| 10 | Tucows | 104.80 Mn | -84.51 Mn | 25.78 Mn | -27.75% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -27.75% |
| Mar 31, 2026 | -21.58% |
| Dec 31, 2025 | -17.14% |
| Sep 30, 2025 | -28.19% |
| Jun 30, 2025 | -25.73% |
| Mar 31, 2025 | -27.11% |
| Dec 31, 2024 | -30.53% |
| Sep 30, 2024 | -24.11% |
| Jun 30, 2024 | -29.23% |
| Mar 31, 2024 | -27.66% |
| Dec 31, 2023 | -24.52% |
| Sep 30, 2023 | -21.13% |
| Jun 30, 2023 | -16.17% |
| Mar 31, 2023 | -12.67% |
| Dec 31, 2022 | -9.24% |
| Sep 30, 2022 | -4.40% |
| Jun 30, 2022 | -3.13% |
| Mar 31, 2022 | 0.00% |
| Dec 31, 2021 | -1.28% |
| Sep 30, 2021 | -2.03% |
API Access
Tucows Return on Invested Capital [ROIC] 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-invested-capital-%5Broic%5D&ticker=TCX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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-invested-capital-%5Broic%5D&ticker=TCX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();