Tron Inc. is a US-listed company in the diversified financial services industry. Its financial year ends in December.
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Revenue for the twelve months to June 2026 was $5m, up 19.7% on a year earlier, faster than the 10.0% growth a quarter earlier.
Our model value for Tron is under review, so past values are not shown until it is resolved.
Source: 10-Q filed August 11, 2026 on SEC EDGAR · Financials · Valuation
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Tron Inc.'s trailing-twelve-month revenue grew 19.7% year on year, with a free-cash-flow margin of -48.8%.
Current signal Revenue growth accelerating: TTM revenue growth rose to 19.7% (+9.6pp vs the prior quarter).
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Company announcements, filed results and changes that matter to shareholders.
No model value for Tron Inc. at the moment. Current status: data-quality checks not passed. Available reported financials are shown below.
The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.
We value Tron Inc. as an asset manager, broker or exchange, with every model that fits that kind of business. Cost of equity 7.6%: the 10-year Treasury yield (4.9%) plus a beta of 0.58 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. | ~$0.0 ~$0.4–$2.2 | Left out: out of range vs price (0.02x) |
| Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. | — | Combined value withheld. Review the individual models and their assumptions. |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Tron Inc. with asset managers, brokers and exchanges in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
No analyst estimates are published for Tron Inc.: too few analysts cover it.
| Calendar year | 2024 | 2025 | 2026 to date |
|---|---|---|---|
| Return | |||
| TRON | −59% | +97% | +6% |
| Industry peers (median) | −44% | −18% | −34% |
| S&P 500 | +25% | +18% | +11% |
| Months that ended higher | |||
| TRON | 8% | 50% | 55% |
| S&P 500 | 75% | 75% | 46% |
| Largest fall from a high during the year | |||
| TRON | −70% | −89% | −59% |
| S&P 500 | −8% | −19% | −9% |
Worst fall since August 15, 2023: 94% from August 15, 2023 to April 16, 2025. Getting back needed a 1666% gain, reached on June 16, 2025, 61 days after the low.
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY23 Q3 | $5.4M |
| FY23 Q4 | $5.8M |
| FY24 Q1 | $5.7M |
| FY24 Q2 | $4.8M |
| FY24 Q3 | $4.6M |
| FY24 Q4 | $4.3M |
| FY25 Q1 | $4.4M |
| FY25 Q2 | $4.2M |
| FY25 Q3 | $4.5M |
| FY25 Q4 | $4.7M |
| FY26 Q1 | $4.8M |
| FY26 Q2 | $5.1M |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY24 Q2 | -16.8% |
| FY24 Q3 | -15.4% |
| FY24 Q4 | -25.2% |
| FY25 Q1 | -22.6% |
| FY25 Q2 | -12.7% |
| FY25 Q3 | -3.0% |
| FY25 Q4 | 10.0% |
| FY26 Q1 | 10.0% |
| FY26 Q2 | 19.7% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Operating margin (TTM) |
|---|---|
| FY25 Q1 | -74.3% |
| FY25 Q2 | -82.4% |
| FY25 Q3 | -67.5% |
| FY25 Q4 | -53.1% |
| FY26 Q1 | -51.0% |
| FY26 Q2 | -44.6% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | FCF margin (TTM) |
|---|---|
| FY23 Q3 | -14.0% |
| FY23 Q4 | -14.1% |
| FY24 Q1 | -31.6% |
| FY24 Q2 | -56.6% |
| FY24 Q3 | -45.1% |
| FY24 Q4 | -69.0% |
| FY25 Q1 | -47.1% |
| FY25 Q2 | -41.8% |
| FY25 Q3 | -54.9% |
| FY25 Q4 | -37.5% |
| FY26 Q1 | -42.5% |
| FY26 Q2 | -48.8% |
| Fiscal year | 2022 Dec 2022 | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 | LTM Jun 2026 |
|---|---|---|---|---|---|
| Income | |||||
| Revenue | 6 | 6 | 4 | 5 | 5 |
| Gross profit | 1 | 1 | 1 | 1 | 1 |
| EBITDA | 0 | −2 | −4 | −2 | −2 |
| Operating income | 0 | −2 | −4 | −3 | −2 |
| Net income | 0 | −2 | −4 | −17 | 7 |
| Diluted EPS | $0.05 | −$0.27 | −$0.37 | −$0.16 | — |
| Growth (year on year) | |||||
| Revenue | — | −5.2% | −25.2% | +10.0% | +19.7% |
| EBITDA | — | −663.5% | — | — | — |
| Operating income | — | −669.0% | — | — | — |
| Net income | — | −724.8% | — | — | — |
| Diluted EPS | — | −640.0% | — | — | — |
| Margins | |||||
| Gross margin | 20.3% | 22.9% | 19.8% | 25.3% | 24.7% |
| EBITDA margin | 5.9% | −35.2% | −97.8% | −46.0% | −40.0% |
| Operating margin | 5.9% | −35.4% | −100.5% | −53.1% | −44.6% |
| Net margin | 5.4% | −35.7% | −100.6% | −354.6% | 135.6% |
| Free-cash-flow margin | −0.6% | −14.1% | −66.8% | −31.9% | −44.2% |
| Cash flow | |||||
| Cash from operations | −0 | −1 | −3 | −1 | −2 |
| Capital spending | 0 | 0 | 0 | 0 | 0 |
| Free cash flow | −0 | −1 | −3 | −2 | −2 |
| Stock-based pay | — | 1 | 1 | 0 | — |
| Free cash flow after stock pay | — | −2 | −4 | −2 | — |
| Balance sheet | |||||
| Cash | 0 | — | — | — | — |
| Total debt | 1 | 0 | — | 0 | 0 |
| Net debt (negative = net cash) | 1 | — | — | — | — |
| Diluted shares | 7m | 8m | 12m | 103m | — |
| Quarter | 2024 Q3 Sept 2024 | 2024 Q4 Dec 2024 | 2025 Q1 Mar 2025 | 2025 Q2 Jun 2025 | 2025 Q3 Sept 2025 | 2025 Q4 Dec 2025 | 2026 Q1 Mar 2026 | 2026 Q2 Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 |
| Gross profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EBITDA | −1 | −1 | −1 | −1 | −1 | −0 | −1 | −1 |
| Operating income | −1 | −1 | −1 | −1 | −1 | −0 | −1 | −1 |
| Net income | −1 | −1 | −1 | 1 | 12 | −30 | 22 | 3 |
| Diluted EPS | −$0.11 | −$0.05 | −$0.04 | $0.01 | $0.04 | −$0.21 | $0.05 | $0.01 |
| Growth (year on year) | ||||||||
| Revenue | −22.3% | −23.5% | +8.3% | −10.9% | +26.0% | +30.7% | +8.7% | +16.8% |
| Net income | — | — | — | — | — | — | — | +95.4% |
| Diluted EPS | — | — | — | — | — | — | — | 0.0% |
| Margins | ||||||||
| Gross margin | 22.4% | 18.5% | 24.5% | 21.8% | 27.0% | 28.3% | 26.9% | 18.5% |
| EBITDA margin | −125.9% | −95.6% | −53.5% | −49.6% | −56.4% | −25.7% | −49.6% | −32.3% |
| Operating margin | −129.2% | −104.4% | −59.4% | −55.4% | −59.5% | −39.0% | −50.4% | −34.2% |
| Net margin | −128.8% | −106.4% | −59.3% | 109.3% | >999% | <−999% | >999% | 182.8% |
| Free-cash-flow margin | −20.1% | −127.6% | — | 3.0% | −77.0% | −35.5% | −45.5% | −26.8% |
| Cash flow | ||||||||
| Cash from operations | −0 | −1 | −0 | 0 | −1 | −0 | −1 | −0 |
| Capital spending | 0 | 0 | — | 0 | 0 | 0 | 0 | 0 |
| Free cash flow | −0 | −1 | — | 0 | −1 | −0 | −1 | −0 |
| Stock-based pay | — | — | 0 | — | — | — | — | — |
| Last 12 months unless stated | TRON | RMCO | ABTS | GRAN | DCM | YDKG | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $5m | $6m | $9m | $2m | $1m | $28m | $28m |
| Revenue growth, last 12 months | 19.7% | 133.5% | 36.0% | −58.3% | −95.0% | >999% | 25.8% |
| Revenue growth, 3-year average | −4.6% | — | — | — | −64.0% | −32.8% | −6.8% |
| Revenue growth, latest quarter | 16.8% | 38.0% | — | — | −97.1% | — | 16.8% |
| Gross margin | 24.7% | 11.1% | 40.3% | 88.6% | 10.5% | −2.5% | 24.7% |
| Operating margin | −44.6% | −5.1% | 40.3% | −183.0% | −429.1% | −160.1% | −107.0% |
| Operating margin, 3-year average | — | −20.1% | — | — | −144.9% | −354.9% | −144.9% |
| Net margin | 135.6% | −14.5% | −31.4% | −192.2% | −437.8% | −99.7% | −31.4% |
| Cash from operations / revenue | −44.2% | −2.3% | 15.5% | −40.6% | −107.9% | 25.1% | −24.5% |
| Free-cash-flow margin | −48.8% | −2.4% | −18.5% | −42.6% | −107.9% | −7.6% | −42.6% |
| Free-cash-flow margin, 3-year average | −49.1% | −9.3% | — | — | −35.7% | −113.1% | −42.4% |
| Stock pay / revenue | — | — | 2.9% | — | — | 3.3% | 2.1% |
| Change in share count | — | 0.3% | 0.0% | 65.9% | 10.4% | >999% | 18.8% |
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Blackrock, Inc. | $5.3M | 3.3M | 30.2% | ▲ 2700.0% |
| Vanguard Capital Management LLC | $3.3M | 2.1M | 18.9% | ▼ 2.2% |
| Geode Capital Management, LLC | $2.2M | 1.4M | 12.5% | ▲ 225.5% |
| LPL Financial LLC | $1.2M | 725K | 6.6% | ▼ 11.6% |
| Goldman Sachs Group Inc | $723,317 | 449K | 4.1% | ▲ 601.1% |
| State Street Corp | $688,919 | 428K | 3.9% | ▲ 491.0% |
| Northern Trust Corp | $609,545 | 379K | 3.5% | ▲ 563.0% |
| Vanguard Portfolio Management LLC | $553,402 | 344K | 3.1% | New |
| Vanguard Fiduciary Trust Co | $471,501 | 293K | 2.7% | ▲ 123.0% |
| Bank Of New York Mellon Corp | $277,131 | 172K | 1.6% | New |
| UBS Group AG | $275,880 | 171K | 1.6% | ▼ 83.3% |
| Two Sigma Investments, LP | $271,628 | 169K | 1.5% | ▼ 3.4% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Tron Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| Financial statements | SEC 10-K and 10-Q filings | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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