Tucows Inc. (TCX)

Solvency & Capital Structure

Total Debt

$695.5M

Net Debt

$645.9M

Tucows Inc. currently has $695.5M in total debt. Net debt is $645.9M after cash offsets.

Financial Fundamentals

TCX • Quarterly Data • 5Y View

Date	Total Debt ($B)	Cash & Inv. ($B)	Net Debt ($B)	Total Assets	Debt/Assets
2026-03-31	0.70	0.05	0.65	0.73	95.4%
2025-12-31	0.54	0.05	0.50	0.73	74.5%
2025-09-30	0.53	0.05	0.48	0.74	72.6%
2025-06-30	0.52	0.05	0.47	0.74	70.3%
2025-03-31	0.52	0.04	0.48	0.74	69.5%
2024-12-31	0.51	0.06	0.46	0.76	67.6%
2024-09-30	0.51	0.08	0.44	0.80	64.1%
2024-06-30	0.45	0.04	0.41	0.76	59.1%
2024-03-31	0.45	0.07	0.39	0.78	58.1%
2023-12-31	0.57	0.10	0.47	0.86	66.5%
2023-09-30	0.47	0.11	0.36	0.81	57.2%
2023-06-30	0.47	0.15	0.32	0.84	55.6%
2023-03-31	0.25	0.01	0.24	0.68	37.4%
2022-12-31	0.26	0.02	0.23	0.66	38.5%
2022-09-30	0.26	0.03	0.23	0.65	39.7%
2022-06-30	0.24	0.01	0.24	0.59	40.9%
2022-03-31	0.22	0.01	0.22	0.56	39.6%
2021-12-31	0.21	0.01	0.20	0.54	38.1%
2021-09-30	0.16	0.01	0.16	0.49	33.2%
2021-06-30	0.15	0.01	0.15	0.48	31.5%
2021-03-31	0.13	0.01	0.13	0.46	28.8%
2020-12-31	0.13	0.01	0.12	0.45	29.4%
2020-09-30	0.13	0.01	0.11	0.44	28.1%
2020-06-30	0.12	0.01	0.12	0.44	28.1%
2020-03-31	0.12	0.01	0.11	0.44	28.4%
2019-12-31	0.12	0.02	0.10	0.43	29.2%
2019-09-30	0.12	0.01	0.10	0.42	27.5%
2019-06-30	0.11	0.01	0.10	0.41	26.8%
2019-03-31	0.10	0.01	0.09	0.41	25.8%
2018-12-31	0.06	0.01	0.05	0.34	19.0%
2018-09-30	0.06	0.01	0.05	0.34	19.1%
2018-06-30	0.07	0.01	0.06	0.34	20.2%
2018-03-31	0.07	0.02	0.06	0.34	21.2%
2017-12-31	0.08	0.02	0.06	0.35	21.9%
2017-09-30	0.08	0.01	0.07	0.35	23.5%
2017-06-30	0.09	0.02	0.07	0.35	24.5%
2017-03-31	0.09	0.02	0.08	0.35	25.7%
2016-12-31	0.01	0.02	-0.00Net Cash	0.15	6.6%
2016-09-30	0.01	0.01	-0.00Net Cash	0.15	7.1%
2016-06-30	0.01	0.01	0.00	0.14	6.5%
2016-03-31	0.01	0.01	-0.00Net Cash	0.14	6.7%
2015-12-31	0.00	0.01	-0.00Net Cash	0.13	2.7%
2015-09-30	0.00	0.01	-0.01Net Cash	0.13	2.6%
2015-06-30	0.00	0.02	-0.01Net Cash	0.14	2.5%
2015-03-31	0.00	0.01	-0.01Net Cash	0.13	2.6%
2014-12-31	0.00	0.01	-0.01Net Cash	0.13	0.0%
2014-09-30	0.00	0.01	-0.01Net Cash	0.13	0.0%
2014-06-30	0.01	0.01	-0.01Net Cash	0.13	4.2%
2014-03-31	0.01	0.01	-0.01Net Cash	0.13	4.5%
2013-12-31	0.01	0.01	-0.01Net Cash	0.12	5.2%
2013-09-30	0.01	0.01	-0.00Net Cash	0.12	5.7%
2013-06-30	0.01	0.01	0.00	0.12	6.3%
2013-03-31	0.01	0.00	0.00	0.12	6.9%
2012-12-31	0.00	0.01	-0.00Net Cash	0.12	3.1%
2012-09-30	0.00	0.00	-0.00Net Cash	0.12	3.4%
2012-06-30	0.00	0.00	-0.00Net Cash	0.12	3.3%
2012-03-31	0.00	0.01	-0.00Net Cash	0.12	3.6%
2011-12-31	0.00	0.01	-0.01Net Cash	0.12	0.7%
2011-09-30	0.00	0.00	-0.00Net Cash	0.11	1.4%
2011-06-30	0.00	0.00	-0.00Net Cash	0.11	0.3%
2011-03-31	0.00	0.00	-0.00Net Cash	0.10	0.8%
2010-12-31	0.00	0.00	-0.00Net Cash	0.10	1.3%
2010-09-30	0.00	0.01	-0.00Net Cash	0.10	1.9%
2010-06-30	0.00	0.00	-0.00Net Cash	0.10	2.4%
2010-03-31	0.00	0.01	-0.00Net Cash	0.10	2.8%
2009-12-31	0.00	0.01	-0.01Net Cash	0.10	3.1%
2009-09-30	0.00	0.01	-0.00Net Cash	0.10	3.8%
2009-06-30	0.00	0.01	-0.00Net Cash	0.10	4.3%
2009-03-31	0.00	0.00	-0.00Net Cash	0.10	3.0%
2008-12-31	0.01	0.01	0.00	0.10	6.1%
2008-09-30	0.01	0.00	0.00	0.10	6.6%
2008-06-30	0.01	0.00	0.00	0.10	7.0%
2008-03-31	0.01	0.01	0.01	0.10	14.1%
2007-12-31	0.01	0.01	0.01	0.10	14.8%
2007-09-30	0.02	0.01	0.01	0.10	15.4%
2007-06-30	0.01	0.01	0.00	0.09	6.8%
2007-03-31	0.01	0.01	0.00	0.09	6.8%
2006-12-31	0.01	0.01	-0.00Net Cash	0.08	7.1%
2006-09-30	0.01	0.00	0.00	0.08	7.2%
2006-06-30	0.01	0.01	-0.00Net Cash	0.08	7.6%
2006-03-31	0.00	0.01	-0.01Net Cash	0.06	0.0%
2005-12-31	0.00	0.02	-0.02Net Cash	0.06	0.0%
2005-09-30	0.00	0.02	-0.02Net Cash	0.06	0.0%
2005-06-30	0.00	0.01	-0.01Net Cash	0.05	0.0%
2005-03-31	0.00	0.02	-0.02Net Cash	0.05	0.0%
2004-12-31	0.00	0.01	-0.01Net Cash	0.05	0.0%
2004-09-30	0.00	0.01	-0.01Net Cash	0.04	0.0%
2004-06-30	0.00	0.01	-0.01Net Cash	0.04	0.0%
2004-03-31	0.00	0.01	-0.01Net Cash	0.04	0.0%
2003-12-31	0.00	0.01	-0.01Net Cash	0.04	0.0%
2003-09-30	0.00	0.01	-0.01Net Cash	0.03	0.0%
2003-06-30	0.00	0.01	-0.01Net Cash	0.03	0.0%
2003-03-31	0.00	0.01	-0.01Net Cash	0.03	0.0%
2002-12-31	0.00	0.01	-0.01Net Cash	0.03	0.0%
2002-09-30	0.00	0.01	-0.01Net Cash	0.03	0.0%
2002-06-30	0.00	0.01	-0.01Net Cash	0.03	0.3%
2002-03-31	0.00	0.01	-0.01Net Cash	0.03	0.4%
2001-12-31	0.00	0.00	-0.00Net Cash	0.03	0.4%
2001-09-30	0.00	0.01	-0.00Net Cash	0.03	0.5%
2001-06-30	0.00	0.01	-0.01Net Cash	0.01	1.1%
2001-03-31	0.00	0.01	-0.01Net Cash	0.01	1.2%
2000-12-31	0.00	0.01	-0.01Net Cash	0.02	1.2%
2000-09-30	0.00	0.02	-0.02Net Cash	0.02	0.7%
2000-06-30	0.00	0.01	-0.01Net Cash	0.02	16.3%
2000-03-31	0.00	0.01	-0.01Net Cash	0.02	12.2%
1999-12-31	0.00	0.00	-0.00Net Cash	0.03	9.6%
1999-09-30	0.01	0.00	0.00	0.01	43.7%
1999-06-30	0.01	0.00	0.00	0.01	45.0%
1999-03-31	0.00	0.00	-0.00Net Cash	0.01	25.5%
1998-12-31	0.00	0.00	-0.00Net Cash	0.01	9.8%
1998-09-30	0.00	0.00	-0.00Net Cash	0.01	2.9%
1998-06-30	0.00	0.00	-0.00Net Cash	0.01	4.3%
1998-03-31	0.00	0.00	-0.00Net Cash	0.01	4.2%
1997-12-31	0.00	0.00	-0.00Net Cash	0.02	3.7%
1997-09-30	0.00	0.00	-0.00Net Cash	0.02	3.8%
1997-06-30	0.00	0.01	-0.01Net Cash	0.02	0.0%
1997-03-31	0.00	0.01	-0.01Net Cash	0.03	0.0%
1996-12-31	0.00	0.02	-0.02Net Cash	0.03	0.0%
1996-09-30	0.00	0.01	-0.01Net Cash	0.03	0.0%
1996-06-30	0.00	0.04	-0.04Net Cash	0.04	0.0%