TON Strategy (TONX) EV to EBITDA (2014 - 2026)
TON Strategy's (TONX) quarterly EV to EBITDA came in at 26.77 in Q1 2026, down 1103.78% on a YoY basis from 2.67 in Q1 2025, and down 2476.56% quarter-over-quarter from 1.04 in Q4 2025.
Analysis
TON Strategy (TONX) EV to EBITDA (2014 - 2026) Analysis & Trends
TON Strategy (TONX) has reported EV to EBITDA for 13 consecutive years, with 26.77 the latest figure, recorded in Q1 2026.
- For the quarter ending Q1 2026, EV to EBITDA fell 1103.78% year-over-year to 26.77; the trailing twelve-month figure through Mar 2026 stood at 2.76 (down 531.63% YoY), and the FY2025 full-year result was 0.26, down 131.1% from the prior year.
- EV to EBITDA eased to 26.77 in Q1 2026 per TONX's latest filing, from 1.04 in the prior quarter.
- Across five years, EV to EBITDA topped out at 3.57 in Q3 2024 and bottomed at 88629.13 in Q2 2022.
- Historically, EV to EBITDA has averaged 16769.96 across 5 years, with a median of 223.6 in 2023.
- The sharpest annual moves came in 2024 and 2026: EV to EBITDA surged 103.44% in 2024, then sank 1103.78% in 2026.
- Over 5 years, EV to EBITDA stood at 38214.47 in 2022, then surged by 99.8% to 76.21 in 2023, then soared by 103.44% to 2.62 in 2024, then tumbled by 139.69% to 1.04 in 2025, then slumped by 2476.56% to 26.77 in 2026.
- According to Business Quant data, EV to EBITDA over the past three periods registered 26.77, 1.04, and 9.58 for Q1 2026, Q4 2025, and Q3 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Coinbase Global | 48.70 Bn | 39.92 Bn | 1.16 Bn |
| 2 | Bullish | 5.43 Bn | 5.38 Bn | 15.53 Mn |
| 3 | Canton Strategic Holdings | 494.45 Mn | 494.45 Mn | - |
| 4 | Cypherpunk Technologies | 446.07 Mn | 446.07 Mn | - |
| 5 | Coincheck | 267.10 Mn | 165.50 Mn | 11.20 Mn |
| 6 | Exodus Movement | 226.48 Mn | -128.60 Mn | - |
| 7 | Wewards | 214.97 Mn | 214.97 Mn | - |
| 8 | Usbc | 194.07 Mn | 190.41 Mn | - |
| 9 | TON Strategy | 187.68 Mn | 187.66 Mn | - |
| 10 | Universal Token | 174.68 Mn | 174.68 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Mar 31, 2026 | -26.77 |
| Dec 31, 2025 | -1.04 |
| Sep 30, 2025 | -9.58 |
| Jun 30, 2025 | 0.23 |
| Mar 31, 2025 | 2.67 |
| Dec 31, 2024 | 2.62 |
| Sep 30, 2024 | 3.57 |
| Jun 30, 2024 | -1,314.89 |
| Mar 31, 2024 | -508.69 |
| Dec 31, 2023 | -76.21 |
| Sep 30, 2023 | -223.60 |
| Jun 30, 2023 | -284.47 |
| Mar 31, 2023 | -906.30 |
| Dec 31, 2022 | -38,214.47 |
| Sep 30, 2022 | -69,362.34 |
| Jun 30, 2022 | -88,629.13 |
| Mar 31, 2022 | -85,541.01 |
| Dec 31, 2021 | -100,206.77 |
| Sep 30, 2021 | -133,144.21 |
| Jun 30, 2021 | -117,794.13 |