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Tucows TCX Debt-to-equity

Debt-to-equity at other companies

Lumen Technologies logo
Lumen TechnologiesLUMN
65.4×+26.1×
Verizon Communications logo
Verizon CommunicationsVZ
0.5×-1.2×
Comcast logo
ComcastCMCSA
1.1×-0.1×
GoDaddy logo
GoDaddyGDDY
16.2×-3.2×
Harmonic logo
HarmonicHLIT
0.4×+0.1×
Ziff Davis logo
Ziff DavisZD
0.5×0.0×

Other financials

Income statement

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Revenue$96.7M+2.2%
Gross profit$24.1M+2.5%
Operating income-$4.3M-112%
Net income-$18.1M-19.7%

Balance sheet

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Cash & equivalents$44.3M+16.4%
Total debt$363.9M+12.5%
Total equity-$181.3M-67.5%
Total assets$729.2M-1.7%

Cash flow

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Operating cash flow$3.5M+131%
CapEx$5.5M+1.7%
Free cash flow-$2.0M+88.0%

Valuation

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Market cap$149.62M-30.4%
Enterprise value$469.18M-4.7%
P/S0.4×-0.2×

Profitability

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Gross margin30.8%
Operating margin10.4%
Net margin-20.1%-4.0pp
FCF margin-2.1%-1.0pp

Returns & leverage

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Return on equity-180.6%-217pp
Current ratio0.6×-0.4×

Where this comes from

Calculated from Tucows’s reported figures.

Based on the most recent quarter.

The official record: Tucows’s 10-K, filed March 12, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Tucows's debt-to-equity?
Tucows (TCX) reported debt-to-equity of 25× in Q4 2023.
How has Tucows's debt-to-equity changed year-over-year?
Tucows's debt-to-equity increased by 14029.5% year-over-year, from 0.2× to 25×.
What is the long-term trend for Tucows's debt-to-equity?
Over 3 years (2020 to 2023), Tucows's debt-to-equity has grown at a 520.5% compound annual growth rate (CAGR), from 0.1× to 25×.
What does debt-to-equity mean?
Total debt (including capitalized leases and financing obligations) divided by shareholders' equity at the quarter end. Measures how much the company is financed by debt relative to equity.