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Recent

v0.1
TCX$15.16+0.00%
Fair $45.16+197.9%

TCX

Tucows Inc.

Technology / Software - InfrastructureNasdaqCM

$15.16

+0.00 (+0.00%)

Significantly Undervalued+197.9%Fair Value $45.16Fund rank 32/100 · Data gapSEC 17/17 yrs|
SA 30/D
F-Score: 4/9
Low Profitability

FCF base 3Y

n/d

n/d CAGR · yield n/d

FCF base 5Y

n/d

n/d base · n/d expected

Precio de entrada

n/d

MOS 27% · confianza 25%

FCF escenarios

weak_data · normalized FCF $-76.2M · quality 71.7/100

Data gap 32/100
Bear 5Yn/dn/d
Base 5Yn/dn/d
Bull 5Yn/dn/d
Return 0/100Downside 20/100Model quality 37/100Data QA 35/100

Ranking barato/determinista: CAGR esperado 5Y + downside bear + calidad del modelo + balance + capital allocation + data gate. No entra en buy-candidate si la data es débil o el CAGR 5Y no compensa.

Quality + valuation scorecard

SA Score

30/100

D

Piotroski

4/9

balance/quality

Valuation

100/100

+197.9% upside

5Y CAGR

+32.6%

100/100

Data QA

100/100

SEC 100%

Latest source: sec-companyfactsPeriods: 17Warnings: 1sec-companyfacts: 17
ROE is -46.2%, below the 5% threshold
Thesis & Journal · TCXLocal privado en este navegador · Tucows Inc.
Plantilla tipo buy-side: tesis, bull/base/bear, catalizadores, riesgos, kill criteria y fecha de revisión. Esto no gasta GPT-5.5; luego lo usamos como contexto del memo.

Sin guardar todavía.

Market Cap

$169M

P/E

N/A

•

EV/EBITDA

18.5x

↑

ROE

-46.2%

↓

Gross Margin

24.1%

↓

Debt/Equity

-3.32

↓
52-Week Range$15
$14$25
EV/EBITDA Historical18.5x

TradingView lightweight chart

TCX price, volumen y niveles de valoración

Último $15.16Periodo -53.4%
Fair value: $45.16

Price & Ratios

Absolute Values (Left Axis)

Ratios / Percentages (Right Axis)

Financial statement dashboard

Crecimiento, márgenes y provenance

2009–2025 · 16 años de histórico normalizado

Revenue CAGR

—

FCF CAGR

—

FCF margin

-5.9%

FCF / Net income

0.30x

Latest source

SEC-backed

Margin decomposition

Último año: revenue $390.3M · net income $-75.8M · FCF $-22.9M

2009-FY → 2025-FY

Gross margin

24.1%— pts

Operating margin

-4.8%— pts

Net margin

-19.4%— pts

FCF margin

-5.9%— pts
SEC-backed annual metrics active for 2025, 2024, 2023, 2022, 2021, 2020, 2019, 2018, 2017, 2016, 2015, 2014, 2013, 2012, 2011, 2010, 2009. Local SEC Companyfacts override Yahoo/FMP for audited annual line items; provider-only fields remain as fallback.
MetricTTM
2025SEC
2024SEC
2023SEC
2022SEC
2021SEC
2020SEC
2019SEC
2018SEC
2017SEC
2016SEC
2015SEC
2014SEC
2013SEC
2012SEC
2011SEC
2010SEC
2009SEC
Income Statement
Revenue$390.3M$390.3M$362.3M$339.3M$321.1M$304.3M$311.2M——$329.4M$189.8M$171.7M$146.5M$129.9M$114.7M———
Net Income$-75.8M$-75.8M$-109.9M$-96.2M$-27.6M$-2.0M$5.8M$15.4M$17.1M$22.3M$16.1M$11.4M$6.4M$4.2M$4.4M$6.2M$2.1M$12.2M
EBITDA$36.1M$36.1M$-1.8M$-9.6M$26.4M$-7.2M$7.4M$29.8M$29.7M$27.7M$25.6M$18.3M$9.9M$6.4M$6.3M$3.3M$2.6M$8.0M
EPS——-10.02-8.85-2.560.310.541.431.592.071.501.000.540.370.360.440.040.17
Gross Margin24.1%24.1%22.9%19.6%24.4%25.7%27.5%——25.7%33.2%30.3%26.9%24.2%22.8%———
Operating Margin-4.8%-4.8%-17.9%-18.8%-9.9%-2.6%2.2%——8.2%13.2%10.5%6.6%4.7%5.3%———
Net Margin-19.4%-19.4%-30.3%-28.3%-8.6%-0.6%1.9%——6.8%8.5%6.6%4.4%3.2%3.9%———
Balance Sheet
Debt/Equity-3.32-3.32-5.3846.272.651.661.171.210.821.290.28———————
Current Ratio0.590.59————————————————
Cash Flow
Free Cash Flow$-22.9M$-22.9M$-76.2M$-96.8M$-116.8M$-43.5M$-8.4M$-3.7M$9.3M$19.0M$14.6M$13.8M$8.2M$7.4M$5.3M$5.0M$6.2M$5.7M
Returns
ROE-46.2%-46.2%-115.3%-974.1%-28.5%-1.7%5.5%16.3%21.5%37.1%42.5%43.2%17.9%15.5%16.7%20.3%8.8%39.4%
Valuation
P/E—————47.7427.4110.359.317.159.8714.8027.4140.0041.1133.64370.0087.06
EV/EBITDA18.4518.45——22.31—————————————
P/B———16.281.651.391.511.692.002.654.196.394.876.206.856.7837.0933.49
Growth & Yield
Revenue Growth7.7%7.7%6.8%5.7%5.5%-2.2%———73.5%10.6%17.2%12.8%13.3%————
EPS Growth——-13.2%-245.7%-925.8%-42.6%-62.2%-10.1%-23.2%38.0%50.0%85.2%45.9%2.8%-18.2%1000.0%-76.5%—

Revenue, Net Income & Free Cash Flow ($B)

Margins (%)

Returns (%)

Leverage & Liquidity

Reverse DCF · market-implied EPS growthterminal P/E 15.0x · COE 10.0%
Reverse DCF requires positive EPS; loss-making or zero-EPS companies cannot produce a clean EPS hurdle.

Qué te dice: cuánto EPS CAGR está descontando el precio si sales al múltiplo terminal indicado. Si el growth observado queda por debajo, el mercado está pidiendo una ejecución muy fina.

Return attribution · 1Y approxreconcilia total -21.9%

Total return

-21.9%

Start / end P/E

n/dx → n/dx

EPS bridge

-10.02 → n/d

Residual

-21.9%

EPS growthn/d
Multiple reratingn/d
Dividend+0.0%
Residual / FX / buybacks / cross-term-21.9%

EPS/multiple decomposition requires positive EPS at both endpoints; residual absorbs price move not explained by dividends.

Simple additive decomposition: total return = EPS growth contribution + P/E multiple contribution + dividend contribution + explicit residual. The residual captures cross-terms, buybacks/share-count effects, FX, special dividends, data noise and methodology mismatch so the bridge always reconciles.

18.5x
22.3x
EV/EBITDA vs Sector18.5x
6.5xmed 12.9x27.7x