TON Strategy (TONX) Operating Margin (2016 - 2026)
TON Strategy (TONX) posted Operating Margin of -73.96% for Q1 2026, up 129.80 percentage points from -203.75% a year earlier and up 85.24 percentage points from the prior quarter.
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Analysis
TON Strategy (TONX) Operating Margin (2016 - 2026) Analysis & Trends
For the trailing twelve months through Mar 31, 2026, Operating Margin at TON Strategy was -225.19%, up 280.32 percentage points year-over-year; for FY2025, it was -285.17%, up 1015.83 percentage points from FY2024.
- Annual Operating Margin has increased for three consecutive years, though with a five-year change of -36.93 percentage points (FY2020 to FY2025).
- In prior years, TON Strategy's Operating Margin was -1301.01% in FY2024 (+20595.82 pp), -21896.83% in FY2023 (+214028.17 pp), -235925.00% in FY2022 (-235604.67 pp) and -320.33% in FY2021 (-72.10 pp).
- The Q1 2026 figure stands as the highest quarterly Operating Margin since Q2 2018.
- On a year-over-year basis, Operating Margin has increased in each of the last 11 quarters, with an average year-over-year change of +21990.85 percentage points over the last eight quarters.
- The strongest year-over-year quarter for Operating Margin in the past five years was Q3 2023, with a gain of 173710.34 percentage points; the weakest was Q1 2023, with a drop of 206078.47 percentage points.
- According to Business Quant data, Operating Margin for the three prior quarters was -159.20% (Q4 2025), -601.50% (Q3 2025) and -138.20% (Q2 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Coinbase Global | 50.59 Bn | 7.40 Bn | - | -9.30% |
| 2 | PayPal Holdings | 46.79 Bn | 5.01 Bn | - | 16.44% |
| 3 | Block | 44.05 Bn | 15.31 Bn | 3.17 Bn | 6.75% |
| 4 | Iren | 31.74 Bn | 19.34 Bn | 103.89 Mn | -452.09% |
| 5 | Corpay | 26.01 Bn | 16.21 Bn | - | 35.28% |
| 6 | Fiserv | 24.47 Bn | 21.17 Bn | 2.90 Bn | 19.18% |
| 7 | Global Payments | 22.51 Bn | 952.73 Mn | 2.03 Bn | 10.15% |
| 8 | Bitmine Immersion Technologies | 15.56 Bn | 12.94 Bn | 40.81 Mn | -25.50% |
| 9 | Guidewire Software | 11.90 Bn | 8.47 Bn | 269.68 Mn | 15.16% |
| 10 | TON Strategy | 224.99 Mn | 86.09 Mn | 3.96 Mn | -73.96% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Mar 31, 2026 | -73.96% |
| Dec 31, 2025 | -159.20% |
| Sep 30, 2025 | -601.50% |
| Jun 30, 2025 | -138.20% |
| Mar 31, 2025 | -203.75% |
| Dec 31, 2024 | -513.14% |
| Sep 30, 2024 | -1,806.25% |
| Jun 30, 2024 | -6,500.00% |
| Mar 31, 2024 | -45,957.14% |
| Dec 31, 2023 | -10,386.21% |
| Sep 30, 2023 | -11,689.66% |
| Jun 30, 2023 | -108,866.67% |
| Mar 31, 2023 | -206,350.00% |
| Dec 31, 2022 | -66,660.00% |
| Sep 30, 2022 | -185,400.00% |
| Jun 30, 2022 | -200.25% |
| Mar 31, 2022 | -271.53% |
| Dec 31, 2021 | -268.59% |
| Sep 30, 2021 | -283.76% |
| Jun 30, 2021 | -371.32% |
API Access
TON Strategy Operating 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=operating-margin&ticker=TONX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "TONX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=TONX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();