TONX - NASDAQ

TON Strategy Co.

TONX·NASDAQ

$3.96

-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$223.86M

EPS-5.9600

P/E Ratio-3.37

Earnings Date08/05/2026

tonx

Operating Income

Last Annual Value

-36.44M

3-Year CAGR

-25%

5-Year CAGR

-8%

10-Year CAGR

-18%

Adjust for Inflation

TON Strategy Co. Competitors Analysis of Operating Income

TONX · NASDAQ

Company	Operating Income	CAGR 3Y	CAGR 5Y	CAGR 10Y
TON Strategy Co. NASDAQ:TONX	-36.44M	N/A	N/A	N/A
Chicago Atlantic BDC, Inc. NASDAQ:LIEN	34.53M	67.6%	N/A	N/A
Horizon Technology Finance Corporation NASDAQ:HRZN	32.96M	N/A	3.2%	6.8%
GigCapital8 Corp. Units NASDAQ:GIWWU	-436.96K	N/A	N/A	N/A
SuRo Capital Corp. NASDAQ:SSSS	53.71M	119.7%	-18.2%	31.5%
Innventure, Inc. NASDAQ:INV	-118.14M	N/A	N/A	N/A
TriplePoint Venture Growth BDC Corp. NYSE:TPVG	75.73M	N/A	-0.2%	12.7%
Oaktree Acquisition Corp. III Life Sciences NASDAQ:OACC	-1.20M	N/A	N/A	N/A
Mount Logan Capital Inc. Common Stock NASDAQ:MLCI	-89.06M	N/A	N/A	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 $3.96, this represents a potential HIDDEN relative to our calculated worth for TON Strategy Co..

HIDDEN

Intrinsic Value

Current Price: $3.96

Related Guides

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Continue your TONX research with focused valuation guides.

Fundamentals

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Accounting

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Forecasting

Translate historical performance into forward scenarios.

Reference

Use practical frameworks for statement-led valuation.

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Snapshot

Start with context, operating signals, and key market metrics.

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.