TON Strategy (TONX) Return on Capital Employed [ROCE] (2014 - 2026)
TON Strategy (TONX) recorded Return on Capital Employed [ROCE] of -10.42% in Q1 2026, up 59.49 percentage points from -69.91% a year earlier but down 3.57 percentage points from the prior quarter.
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Analysis
TON Strategy (TONX) Return on Capital Employed [ROCE] (2014 - 2026) Analysis & Trends
For FY2025, TON Strategy reported Return on Capital Employed [ROCE] of -17.25%, up 84.51 percentage points from FY2024.
- Annual Return on Capital Employed [ROCE] has increased for four straight years, with a five-year change of +164.97 percentage points (FY2020 to FY2025).
- Across earlier years, Return on Capital Employed [ROCE] came in at -101.76% in FY2024 (+29.91 pp), -131.66% in FY2023 (+14.29 pp), -145.95% in FY2022 (+70.82 pp) and -216.78% in FY2021 (-34.56 pp).
- Quarterly Return on Capital Employed [ROCE] has ranged from -781.18% in Q3 2023 to -6.85% in Q4 2025 over the past five years.
- On a year-over-year basis, Return on Capital Employed [ROCE] has increased for three consecutive quarters, with an average year-over-year change of +212.43 percentage points over the last eight quarters.
- Peak year-over-year performance for Return on Capital Employed [ROCE] in the last five years was a gain of 724.12 percentage points in Q3 2024, against a drop of 663.53 percentage points in Q3 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at -6.85% (Q4 2025), -9.26% (Q3 2025) and -66.57% (Q2 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Coinbase Global | 48.27 Bn | 5.08 Bn | - | 3.03% |
| 2 | PayPal Holdings | 45.51 Bn | 3.74 Bn | - | 17.89% |
| 3 | Block | 44.67 Bn | 15.93 Bn | 3.17 Bn | 4.02% |
| 4 | Iren | 31.78 Bn | 19.37 Bn | 103.89 Mn | -11.25% |
| 5 | Corpay | 25.91 Bn | 16.11 Bn | - | 20.94% |
| 6 | Fiserv | 23.59 Bn | 20.29 Bn | 2.90 Bn | 8.26% |
| 7 | Global Payments | 20.83 Bn | -735.18 Mn | 2.03 Bn | 2.55% |
| 8 | Bitmine Immersion Technologies | 15.23 Bn | 12.61 Bn | 40.81 Mn | -82.57% |
| 9 | Guidewire Software | 12.47 Bn | 9.03 Bn | 269.68 Mn | 7.92% |
| 10 | TON Strategy | 201.81 Mn | 62.91 Mn | 3.96 Mn | -10.42% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Mar 31, 2026 | -10.42% |
| Dec 31, 2025 | -6.85% |
| Sep 30, 2025 | -9.26% |
| Jun 30, 2025 | -66.57% |
| Mar 31, 2025 | -69.91% |
| Dec 31, 2024 | -68.13% |
| Sep 30, 2024 | -57.07% |
| Jun 30, 2024 | -65.56% |
| Mar 31, 2024 | -136.14% |
| Dec 31, 2023 | -608.92% |
| Sep 30, 2023 | -781.18% |
| Jun 30, 2023 | -266.27% |
| Mar 31, 2023 | -212.75% |
| Dec 31, 2022 | -160.26% |
| Sep 30, 2022 | -117.65% |
| Jun 30, 2022 | -110.03% |
| Mar 31, 2022 | -189.29% |
| Dec 31, 2021 | -195.70% |
| Sep 30, 2021 | -193.93% |
| Jun 30, 2021 | -168.18% |
API Access
TON Strategy 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=TONX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "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=return-on-capital-employed-%5Broce%5D&ticker=TONX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();