Tucows Inc. (TC) - Net Assets
Based on the latest financial reports, Tucows Inc. (TC) has net assets worth CA$-144.06 Million CAD (≈ $-104.21 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$735.49 Million ≈ $532.04 Million USD) and total liabilities (CA$879.55 Million ≈ $636.25 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check TC cash and liquid asset ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$-144.06 Million |
| % of Total Assets | -19.59% |
| Annual Growth Rate | N/A |
| 5-Year Change | -191.02% |
| 10-Year Change | -461.95% |
| Growth Volatility | 266.36 |
Tucows Inc. - Net Assets Trend (1996–2024)
This chart illustrates how Tucows Inc.'s net assets have evolved over time, based on quarterly financial data. Also explore total assets of Tucows Inc. for the complete picture of this company's asset base.
Annual Net Assets for Tucows Inc. (1996–2024)
The table below shows the annual net assets of Tucows Inc. from 1996 to 2024. For live valuation and market cap data, see Tucows Inc. (TC) total market value.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CA$-95.30 Million ≈ $-68.94 Million |
-1065.06% |
| 2023-12-31 | CA$9.88 Million ≈ $7.14 Million |
-89.78% |
| 2022-12-31 | CA$96.66 Million ≈ $69.92 Million |
-16.02% |
| 2021-12-31 | CA$115.09 Million ≈ $83.26 Million |
+9.93% |
| 2020-12-31 | CA$104.70 Million ≈ $75.74 Million |
+11.15% |
| 2019-12-31 | CA$94.19 Million ≈ $68.14 Million |
+18.07% |
| 2018-12-31 | CA$79.78 Million ≈ $57.71 Million |
+32.49% |
| 2017-12-31 | CA$60.21 Million ≈ $43.56 Million |
+59.22% |
| 2016-12-31 | CA$37.82 Million ≈ $27.36 Million |
+43.63% |
| 2015-12-31 | CA$26.33 Million ≈ $19.05 Million |
-26.13% |
| 2014-12-31 | CA$35.64 Million ≈ $25.78 Million |
+32.41% |
| 2013-12-31 | CA$26.92 Million ≈ $19.47 Million |
+1.38% |
| 2012-12-31 | CA$26.55 Million ≈ $19.21 Million |
-12.72% |
| 2011-12-31 | CA$30.42 Million ≈ $22.00 Million |
+27.16% |
| 2010-12-31 | CA$23.92 Million ≈ $17.30 Million |
-23.07% |
| 2009-12-31 | CA$31.10 Million ≈ $22.49 Million |
+44.97% |
| 2008-12-31 | CA$21.45 Million ≈ $15.52 Million |
+10.85% |
| 2007-12-31 | CA$19.35 Million ≈ $14.00 Million |
+4.36% |
| 2006-12-31 | CA$18.54 Million ≈ $13.41 Million |
+41.63% |
| 2005-12-31 | CA$13.09 Million ≈ $9.47 Million |
+75.56% |
| 2004-12-31 | CA$7.46 Million ≈ $5.39 Million |
+761.01% |
| 2003-12-31 | CA$866.12K ≈ $626.54K |
+163.68% |
| 2002-12-31 | CA$-1.36 Million ≈ $-983.82K |
+59.88% |
| 2001-12-31 | CA$-3.39 Million ≈ $-2.45 Million |
-127.22% |
| 2000-12-31 | CA$12.45 Million ≈ $9.01 Million |
-45.62% |
| 1999-12-31 | CA$22.90 Million ≈ $16.57 Million |
+793.94% |
| 1998-12-31 | CA$-3.30 Million ≈ $-2.39 Million |
-131.43% |
| 1997-12-31 | CA$10.50 Million ≈ $7.60 Million |
-62.09% |
| 1996-12-31 | CA$27.70 Million ≈ $20.04 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Tucows Inc.'s total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 12485800000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | CA$36.58 Million | % |
| Other Comprehensive Income | CA$-964.00K | % |
| Other Components | CA$19.24 Million | % |
| Total Equity | CA$-95.30 Million | 100.00% |
Tucows Inc. Competitors by Market Cap
The table below lists competitors of Tucows Inc. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
FENIX Resources Ltd
AU:FEX
|
$173.83 Million |
|
PACT GROUP HLDGS
F:27P
|
$173.87 Million |
|
Slam Corp.
NASDAQ:SLAMF
|
$173.87 Million |
|
Legal & General Group PLC
LSE:LGEN
|
$173.88 Million |
|
SBC Exports Limited
NSE:SBC
|
$173.75 Million |
|
Rane Holdings Limited
NSE:RANEHOLDIN
|
$173.74 Million |
|
NELCO Limited
NSE:NELCO
|
$173.67 Million |
|
Anderson Industrial Corp
TW:1528
|
$173.61 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tucows Inc.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 9,875,000 to -95,300,000, a change of -105,175,000 (-1065.1%).
- Net loss of 109,860,000 reduced equity.
- Other comprehensive income decreased equity by 2,692,000.
- Other factors increased equity by 7,377,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$-109.86 Million | -115.28% |
| Other Comprehensive Income | CA$-2.69 Million | -2.82% |
| Other Changes | CA$7.38 Million | +7.74% |
| Total Change | CA$- | -1065.06% |
Book Value vs Market Value Analysis
This analysis compares Tucows Inc.'s book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1996-12-31 | CA$13.25 | CA$21.64 | x |
| 1997-12-31 | CA$4.42 | CA$21.64 | x |
| 1998-12-31 | CA$-1.34 | CA$21.64 | x |
| 1999-12-31 | CA$7.70 | CA$21.64 | x |
| 2000-12-31 | CA$4.01 | CA$21.64 | x |
| 2001-12-31 | CA$-0.24 | CA$21.64 | x |
| 2002-12-31 | CA$-0.08 | CA$21.64 | x |
| 2003-12-31 | CA$0.05 | CA$21.64 | x |
| 2004-12-31 | CA$0.44 | CA$21.64 | x |
| 2005-12-31 | CA$0.72 | CA$21.64 | x |
| 2006-12-31 | CA$0.97 | CA$21.64 | x |
| 2007-12-31 | CA$1.00 | CA$21.64 | x |
| 2008-12-31 | CA$1.15 | CA$21.64 | x |
| 2009-12-31 | CA$1.77 | CA$21.64 | x |
| 2010-12-31 | CA$1.60 | CA$21.64 | x |
| 2011-12-31 | CA$2.18 | CA$21.64 | x |
| 2012-12-31 | CA$2.16 | CA$21.64 | x |
| 2013-12-31 | CA$2.39 | CA$21.64 | x |
| 2014-12-31 | CA$3.04 | CA$21.64 | x |
| 2015-12-31 | CA$2.32 | CA$21.64 | x |
| 2016-12-31 | CA$3.53 | CA$21.64 | x |
| 2017-12-31 | CA$5.58 | CA$21.64 | x |
| 2018-12-31 | CA$7.39 | CA$21.64 | x |
| 2019-12-31 | CA$8.74 | CA$21.64 | x |
| 2020-12-31 | CA$9.79 | CA$21.64 | x |
| 2021-12-31 | CA$10.64 | CA$21.64 | x |
| 2022-12-31 | CA$8.98 | CA$21.64 | x |
| 2023-12-31 | CA$0.91 | CA$21.64 | x |
| 2024-12-31 | CA$-8.69 | CA$21.64 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tucows Inc. utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 0.00%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -30.33%
- • Asset Turnover: 0.48x
- • Equity Multiplier: 0.00x
- Recent ROE (0.00%) is above the historical average (-19.64%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1996 | -49.82% | -985.71% | 0.05x | 1.09x | CA$-16.57 Million |
| 1997 | -165.71% | -255.88% | 0.36x | 1.79x | CA$-18.45 Million |
| 1998 | 0.00% | -116.78% | 1.46x | 0.00x | CA$-17.07 Million |
| 1999 | 107.86% | 106.47% | 0.77x | 1.31x | CA$22.41 Million |
| 2000 | -115.00% | -128.31% | 0.71x | 1.27x | CA$-15.57 Million |
| 2001 | 0.00% | -42.46% | 1.23x | 0.00x | CA$-13.07 Million |
| 2002 | 0.00% | 5.04% | 1.28x | 0.00x | CA$2.00 Million |
| 2003 | 238.24% | 5.55% | 1.05x | 40.80x | CA$1.98 Million |
| 2004 | 73.76% | 12.30% | 0.95x | 6.34x | CA$4.75 Million |
| 2005 | 21.18% | 5.71% | 0.85x | 4.36x | CA$1.46 Million |
| 2006 | 11.65% | 3.32% | 0.77x | 4.57x | CA$306.18K |
| 2007 | 13.83% | 3.58% | 0.75x | 5.17x | CA$740.43K |
| 2008 | 9.67% | 2.64% | 0.81x | 4.50x | CA$-70.26K |
| 2009 | 39.37% | 15.12% | 0.78x | 3.35x | CA$9.13 Million |
| 2010 | 8.85% | 2.50% | 0.83x | 4.24x | CA$-275.18K |
| 2011 | 20.28% | 6.36% | 0.84x | 3.80x | CA$3.13 Million |
| 2012 | 16.66% | 3.86% | 0.97x | 4.47x | CA$1.77 Million |
| 2013 | 15.53% | 3.22% | 1.07x | 4.51x | CA$1.49 Million |
| 2014 | 17.88% | 4.32% | 1.17x | 3.53x | CA$2.81 Million |
| 2015 | 43.20% | 6.58% | 1.34x | 4.90x | CA$8.74 Million |
| 2016 | 42.49% | 8.46% | 1.23x | 4.08x | CA$12.29 Million |
| 2017 | 37.08% | 6.78% | 0.94x | 5.82x | CA$16.31 Million |
| 2018 | 21.48% | 4.95% | 1.02x | 4.26x | CA$9.16 Million |
| 2019 | 16.35% | 4.57% | 0.79x | 4.52x | CA$5.98 Million |
| 2020 | 5.52% | 1.86% | 0.69x | 4.32x | CA$-4.69 Million |
| 2021 | 2.92% | 1.11% | 0.56x | 4.69x | CA$-8.15 Million |
| 2022 | -28.52% | -8.59% | 0.48x | 6.88x | CA$-37.24 Million |
| 2023 | -974.15% | -28.35% | 0.43x | 80.85x | CA$-97.18 Million |
| 2024 | 0.00% | -30.33% | 0.48x | 0.00x | CA$-100.33 Million |
Industry Comparison
This section compares Tucows Inc.'s net assets metrics with peer companies in the Software - Infrastructure industry.
Industry Context
- Industry: Software - Infrastructure
- Average net assets among peers: $-8,681,128
- Average return on equity (ROE) among peers: -45.24%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tucows Inc. (TC) | CA$-144.06 Million | -49.82% | N/A | $173.82 Million |
| BlackBerry Ltd (BB) | $776.00 Million | -16.78% | 0.80x | $2.78 Billion |
| Blockchaink2 Corp (BITK) | $2.90 Million | -23.65% | 0.02x | $2.26 Million |
| Coveo Solutions Inc (CVO) | $-999.08 Million | 0.00% | 0.00x | $179.34 Million |
| Fobi AI Inc (FOBI) | $6.33 Million | -302.41% | 0.35x | $6.50 Million |
| Fintech Select Ltd (FTEC) | $-2.52 Million | 0.00% | 0.00x | $2.32 Million |
| Haivision Systems Inc (HAI) | $97.58 Million | 0.12% | 0.49x | $127.86 Million |
| Hank Payments Corp (HANK) | $-4.13 Million | 0.00% | 0.00x | $15.76 Million |
| DeepMarkit Corp (MKT) | $-1.73 Million | 0.00% | 0.00x | $12.27 Million |
| Mogo Inc (MOGO) | $20.03 Million | -106.62% | 4.36x | $25.11 Million |
| Martello Technologies Group Inc (MTLO) | $17.81 Million | -3.05% | 0.14x | $2.11 Million |
About Tucows Inc.
Tucows Inc. provides domain name registration, email, and other internet related services in North America and Europe. It operates through three segments: Ting, Wavelo, and Tucows Domains. The Ting segment provides gigabit fiber and fixed wireless internet services. The Wavelo segment offers full-service platforms and professional services that support communication services providers, including … Read more