TON Strategy CoTONX -5.45%50 Piotroski F-Score is 5 as of Jun. 25, 2026, which is 25% above its 10-year median of 4.00. GuruFocus rates TONX with a GF Score™ of 50/100 and a GF Value™ of $17.74 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 2,742 Software companies, TON Strategy Co ranks better than 59.85% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
TON Strategy Co has an F-score of 5 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for TON Strategy Co's Piotroski F-Score or its related term are showing as below:
TONX'
s Piotroski F-Score Range Over the Past 10 Years
Min: 2 Med: 4 Max: 6
Current: 5
During the past 13 years, the highest Piotroski F-Score of TON Strategy Co was 6. The lowest was 2. And the median was 4.
TON Strategy Co (NAS:TONX) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
TON Strategy Co Piotroski F-Score Related Terms
TON Strategy Co Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for TON Strategy Co's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
TONX vs KLTR, IMMR, SMRT: Piotroski F-Score Comparison
For the Software - Application subindustry, TON Strategy Co's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
TON Strategy Co Piotroski F-Score vs Software Industry
For the Software industry and Technology sector, TON Strategy Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where TON Strategy Co's Piotroski F-Score falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
TON Strategy Co's current Net Income (TTM) was -236.95.
==> Negative ==> Score 0.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
TON Strategy Co's return on assets of this year was -12.90031577. TON Strategy Co's return on assets of last year was -0.46254773.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
TON Strategy Co's gearing of this year was 0.00021925. TON Strategy Co's gearing of last year was 0.00866494.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
TON Strategy Co's current ratio of this year was 7.41878475. TON Strategy Co's current ratio of last year was 3.91081229.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
TON Strategy Co's number of shares in issue this year was 58.358. TON Strategy Co's number of shares in issue last year was 1.022.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
TON Strategy Co's gross margin of this year was 0.71046811. TON Strategy Co's gross margin of last year was 0.62836297.
==> This year's gross margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
TON Strategy Co's asset turnover of this year was 0.91065984. TON Strategy Co's asset turnover of last year was 0.10736316.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
TON Strategy Co has an F-score of 5 indicating the company's financial situation is typical for a stable company.
TON Strategy Co (TONX) has a Piotroski F-Score of 5 as of Jun. 25, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on TON Strategy Co and its competitors. This is 25% above median its historical median of 4.00. Over the past decade, TON Strategy Co's Piotroski F-Score has ranged from 2.00 to 6.00. According to the industry distribution chart, TON Strategy Co ranks #1101 out of 2742 companies in the Software industry, placing it in the top 40.2%.
Is TON Strategy Co's Piotroski F-Score too high?
TON Strategy Co's current Piotroski F-Score of 5 is 25% above median its 10-year median of 4.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 6.00. The Software industry median Piotroski F-Score is 5.00. TON Strategy Co's value of 5 is 0% at this industry median. Based on the distribution chart, TON Strategy Co ranks #1101 out of 2742 companies in the Software industry, which is above the industry midpoint. Overall, TON Strategy Co has a GF Score™ of 50/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does TON Strategy Co's Piotroski F-Score compare to KLTR and IMMR?
According to the Software industry distribution chart, TON Strategy Co ranks #1101 out of 2742 companies for Piotroski F-Score. This puts TON Strategy Co in the upper half of its industry. The industry median Piotroski F-Score is 5.00. TON Strategy Co's value of 5 is 0% at this benchmark. Historically, TON Strategy Co's own Piotroski F-Score has ranged from 2.00 to 6.00 over the past decade. While the company's 10-year median is 4.00 vs. the industry median of 5.00, TON Strategy Co has consistently been at the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Software company?
The median Piotroski F-Score among Software companies is 5.00, based on 2,742 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. TON Strategy Co's current Piotroski F-Score of 5 is 0% at the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on TON Strategy Co and its competitors. For the Software industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TON Strategy Co's current Piotroski F-Score is 5, which is 25% above median its own 10-year median of 4.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TON Strategy Co stock overvalued right now?
Based on GuruFocus' analysis, TON Strategy Co (TONX) is currently considered Possible Value Trap. The stock's GF Value™ is $17.74, compared to a current price of $2.43 — trading 86.3% below its estimated fair value. The current Piotroski F-Score is 5, which is 25% above median its 10-year median of 4.00 and 0% at the Software industry median of 5.00. TON Strategy Co's overall GF Score™ is 50/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For TON Strategy Co (TONX), the current Piotroski F-Score is 5 as of Jun. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is TON Strategy Co (TONX) Overvalued in 2026?
Based on GuruFocus' analysis, TON Strategy Co stock appears to be undervalued.
The current stock price of $2.43 is trading 86.3% below its estimated GF Value™ of $17.74.
GuruFocus considers TON Strategy Co to be Possible Value Trap.
Key valuation signals for TONX:
Piotroski F-Score: 5 (25% above median its 10-year median of 4.00)
GF Value™: $17.74 vs. price of $2.43 (86.3% below fair value)
Industry Position: 0% at the Software median (#1101 of 2742)
No single metric tells the full story. See the TONX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
TON Strategy Co is a digital asset treasury and Web3 ecosystem company focused on supporting The Open Network, a public blockchain integrated with Telegram and designed for fast, scalable transactions and decentralized applications. Its core business is managing its holdings of Toncoin (TON), including staking tokens to support network validation and earn rewards, while adhering to regulatory, accounting, and risk management standards. The company also pursues Web3 initiatives to support the ecosystem's growth and adoption. It operates through MARKET. live, Go Fund Yourself, and TON segments, with MARKET.live generating maximum revenue as a multi-vendor livestream shopping platform that combines e-commerce and entertainment across social and video channels.
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