TONX - NASDAQ

TON Strategy Co.

TONX·NASDAQ

$3.76

-5.1%

Financial ServicesAsset Management

The first NASDAQ‑listed publicly traded treasury for Toncoin ($TON), the native cryptocurrency of The Open Network (TON). The company accumulates and stakes $TON to build a long-term treasury, offering regulated market exposure to TON through structured capital deployment and staking rewards.

Statements Value Model

At a Glance

Live Snapshot

Market Cap$212.56M

EPS-5.9600

P/E Ratio-0.63

Earnings Date08/05/2026

tonx

Cash at End of Period

Last Annual Value

39.66M

3-Year CAGR

154%

5-Year CAGR

85%

10-Year CAGR

81%

Adjust for Inflation

TON Strategy Co. Competitors Analysis of Cash at End of Period

TONX · NASDAQ

Company	Cash at End of Period	CAGR 3Y	CAGR 5Y	CAGR 10Y
TON Strategy Co. NASDAQ:TONX	39.66M	108.9%	111.5%	117.5%
Chicago Atlantic BDC, Inc. NASDAQ:LIEN	2.93M	-55.2%	-49.0%	N/A
Horizon Technology Finance Corporation NASDAQ:HRZN	142.69M	23.5%	24.7%	14.4%
GigCapital8 Corp. Units NASDAQ:GIWWU	1.44M	N/A	N/A	N/A
SuRo Capital Corp. NASDAQ:SSSS	49.07M	20.3%	-24.4%	19.4%
Innventure, Inc. NASDAQ:INV	65.45M	194.0%	72.1%	N/A
TriplePoint Venture Growth BDC Corp. NYSE:TPVG	47.37M	-34.9%	-4.3%	19.8%
Oaktree Acquisition Corp. III Life Sciences NASDAQ:OACC	1.43M	N/A	N/A	N/A
Mount Logan Capital Inc. Common Stock NASDAQ:MLCI	133.75M	14.0%	24.7%	N/A

TON Strategy Co. Fair Value Envelope

TONX · NASDAQ

Our analysis suggests that TONX has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $3.76, this represents a potential HIDDEN relative to our calculated worth for TON Strategy Co..

HIDDEN

Intrinsic Value

Current Price: $3.76

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Accounting

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Forecasting

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Reference

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Snapshot

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Value Model

Stress test fair value across bear, base, and bull assumptions.

Statements

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Earnings Call

Read management commentary and compare it with reported outcomes.

Dividends

Check payout sustainability and long-term distribution behavior.

Analyst Expectations

Review consensus spread and where estimate risk is concentrated.