Mount Logan Capital vs TON Strategy
Mount Logan Capital is the larger business, with $53.6m of revenue in fiscal 2025 against $12.8m for TON Strategy (4.2 times as much). TON Strategy grew faster (1327.8% against 7.6%). Mount Logan Capital kept more of each dollar of sales as profit: a net margin of -113.6% against -1161.9%.
| Latest fiscal year | Mount Logan CapitalMLCI, 2025 | TON StrategyTONX, 2025 |
|---|---|---|
| Revenue | $53.6m | $12.8m |
| Revenue growth | 7.6% | 1327.8% |
| Net income | −$60.8m | −$148m |
| Operating margin | — | — |
| Net margin | -113.6% | -1161.9% |
| Return on equity | -133.8% | -70.3% |
| Free cash flow | — | −$20.9m |
| Cash | — | $39.5m |
| Total debt | $77.1m | — |
| Debt to equity | 84.7% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $1.4m | $20.6m |
| Employees | — | — |
| Market value | $40.5m | $163m |
| Price vs our value range | — | — |
| Moat score | — | 12 (Weak) |
| Insider trades, 12 months | 7 buys, 0 sales | 9 buys, 18 sales |