Tucows price to book ratio TCX

Market value divided by the book value of the company's net assets, since 2011.

Today, Oct 23, 2026: n/m; not a meaningful number
Last meaningful: 20.3×; May 2024
10-year median: 7.8×
10-year range: 1.9× to 20.3×
Peer median: 2.2×

Tucows' price to book ratio is not a meaningful number today: shareholders' equity was zero, negative or not reported, so price to book does not exist.

It was last meaningful in May 2024, at 20.3×.

On the days it had one over the last ten years, its median was 7.8×, from 1.9× in Apr 2023 to 20.3× in May 2024.

Price to book ratio over time

median 7.8×

The dashed line is the 10-year median and the shaded band the middle half of its days.

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2024	20.3×	6.5×	20.3×
2023	9.8×	1.9×	9.8×
2022	3.5×	3.2×	7.7×
2021	7.9×	7.1×	9.5×
2020	7.8×	5.3×	8.3×
2019	7.5×	5.8×	11.9×
2018	8.6×	7.6×	13.4×
2017	15.2×	11.2×	17.2×
2016	10.7×	7.3×	11.4×
2015	8.2×	5.5×	10.6×
2014	6.5×	4.8×	6.5×
2013	5.2×	2.6×	5.9×
2012	2.4×	1.7×	2.8×
2011	1.7×	1.5×	1.7×

Against its peers

Companies in Software - Application nearest Tucows' size, closest first, today.

Company	Price to book ratio
TCXTucows	n/m
TRAKReposiTrak	2.5×
ALISCalisa Acquisition	n/m
EGHT8X8	2.1×
TZOOTravelzoo	n/m
ZIPZiprecruiter	n/m
OOMAOoma	5.5×
CARSCars.com	1.3×
IBEXIBEX	3.7×
NRDSNerdwallet	2.1×
MNTNMNTN	2.2×
Peer median	2.2×

What the price to book ratio tells you

Market value divided by the accounting value of the company's net assets. Below 1 means the market values the business at less than what it owns on paper.

Book value misses brands, software and people, so asset-light companies always look expensive on it. Most useful for banks and industrials.

More on Tucows

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.