Tron (TRON) AI Stock Analysis

• Market Cap: $375.39M
• Dividend Yield: N/A
• Average Volume (3M): 1.23M
• Price to Earnings (P/E): ―
• Beta (1Y): -0.06
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 6
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Leisure
• EPS (TTM): N/A
• Shares Outstanding: 257,115,400
• 10 Day Avg. Volume: 523,557
• 30 Day Avg. Volume: 1,227,590
• PEG Ratio: -0.05
• Price to Book (P/B): 1.38
• Price to Sales (P/S): 1.70
• P/FCF Ratio: -2.34
• Enterprise Value/Market Cap: 0.09
• Enterprise Value/Revenue: 7.66
• Enterprise Value/Gross Profit: 33.22
• Enterprise Value/Ebitda: 2.16
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 51 Neutral
• Price Target: $1.50 ▼(-20.21% Downside)

Score is primarily held back by weak cash generation and mixed operating profitability signals despite headline net income, with additional pressure from a bearish longer-term technical trend. A materially stronger balance sheet and positive recent capital/treasury actions provide partial support but do not outweigh cash-flow and trend risks.

Positive Factors

Balance sheet strength

A materially stronger balance sheet with very high shareholders' equity and minimal leverage provides durable financial flexibility. This supports multi‑quarter execution, asset accumulation and resilience to revenue/cash volatility without relying on high‑cost debt.

Strategic equity infusion

The $18M strategic equity investment (paid in stablecoins) is a structural capital augmentation that reduces near‑term funding risk. It materially expands liquidity for treasury and operations, enabling multi‑quarter investments in tokens or infrastructure without immediate dilution from recurring raises.

Growing TRX treasury holdings

Management's deliberate accumulation of TRX and a >677M token treasury reflects an enduring corporate strategy to align balance sheet assets with the TRON ecosystem. This creates strategic optionality for partnerships, monetization or ecosystem support over multiple quarters.

Negative Factors

Negative operating and free cash flow

Persistent negative operating and free cash flow (~‑$2.2M TTM) shows the business is not self‑funding from operations. Continued cash burn forces reliance on external capital or asset monetization and raises execution risk over the next several quarters if cash conversion does not improve.

Earnings quality concerns

A sharp headline net income turnaround is undermined by negative EBIT and inconsistent margin metrics, suggesting profits may be driven by non‑operating items or one‑offs. This reduces confidence in sustainable operating profitability and durable earnings.

Concentration on founder‑linked capital

Material financing and treasury support from a founder‑controlled entity increases governance and concentration risk. Dependence on a single backer can bias strategic decisions and raises uncertainty for minority shareholders about long‑term independence and capital access.

Tron Business Overview & Revenue Model

Company Description

Tron Inc. designs, manufactures, and sells toys and souvenirs to theme parks and entertainment venues in the United States, China, Japan, and Europe. The company designs a range of product categories, including figures, plush, accessories, apparel, and homewares. It serves content providers and consumers. The company was formerly known as SRM Entertainment, Inc. and changed its name to Tron Inc. in July 2025. The company is headquartered in Winter Park, Florida.

How the Company Makes Money

Tron Financial Statement Overview

Summary

Improving fundamentals with a sharp TTM profitability rebound and a much stronger, low-debt balance sheet. However, earnings quality is a concern given negative EBIT and negative operating/free cash flow (~-2.2M), which does not corroborate reported net income.

Income Statement

TTM (Trailing-Twelve-Months) shows a sharp turnaround to strong profitability (net income of ~12.0M and very high net margin), alongside solid revenue growth (~5.4%). However, core operating profitability looks mixed: EBIT remains negative and reported margin metrics are inconsistent (EBITDA is positive in dollars but margins appear negative), which reduces confidence in the quality and sustainability of earnings versus the headline net income.

Balance Sheet

Balance sheet strength improved dramatically versus prior annual periods, with very large equity (~239.8M) and low debt (~0.2M), implying minimal leverage and strong financial flexibility. Earlier years show weaker capitalization (including negative equity in 2020–2022 and low equity in 2024), so the key risk is whether the recent step-change in equity is durable and supported by stable operations.

Cash Flow

Cash generation is the weak spot: TTM (Trailing-Twelve-Months) operating cash flow and free cash flow are both negative (~-2.2M), continuing a multi-year pattern of cash burn in most annual periods (2020, 2022–2024). Despite positive free cash flow growth in TTM, the business is not currently funding itself from operations, and cash flow does not corroborate the large reported net income in the latest period.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	4.46M	4.31M	5.76M	6.08M	2.67M	2.96M
Gross Profit	1.03M	855.23K	1.32M	1.23M	555.43K	804.79K
EBITDA	15.77M	-4.19M	-1.99M	361.09K	0.00	-537.99K
Net Income	12.02M	-4.34M	-2.05M	328.70K	-29.06K	-586.99K
Balance Sheet
Total Assets	244.60M	6.31M	4.54M	2.08M	1.82M	454.17K
Cash, Cash Equivalents and Short-Term Investments	10.79M	1.35M	2.98M	453.52K	515.37K	70.10K
Total Debt	214.83K	500.00K	0.00	1.49M	1.50M	0.00
Total Liabilities	4.83M	1.02M	418.88K	2.08M	2.15M	756.41K
Stockholders Equity	239.77M	5.29M	4.12M	-2.59K	-331.30K	-302.23K
Cash Flow
Free Cash Flow	-2.19M	-3.13M	-809.66K	-34.21K	445.27K	-108.38K
Operating Cash Flow	-2.19M	-2.86M	-766.88K	-29.93K	452.65K	-108.38K
Investing Cash Flow	0.00	-273.26K	-392.96K	-4.29K	-7.38K	0.00
Financing Cash Flow	11.77M	1.50M	3.69M	-27.65K	0.00	0.00

Tron Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ESCA	72 Outperform	$194.63M	15.49	7.42%	4.71%	-4.56%	-2.85%
GOLF	70 Outperform	$5.55B	25.89	25.91%	1.15%	4.20%	24.12%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
JAKK	56 Neutral	$210.63M	38.00	2.40%	5.97%	-16.49%	-81.62%
TRON	51 Neutral	$375.39M	-26.11	9.89%	―	―	―
NWTG	48 Neutral	$6.70M	-0.06	-383.63%	―	178.32%	70.79%
YYAI	25 Underperform	$49.68M	-10.73	-4.97%	―	61.04%	99.61%

Tron Corporate Events

Tron Expands TRX Treasury Holdings to Support Strategy

On January 22, 2026, Tron Inc. acquired 165,824 TRX tokens at an average price of $0.30, bringing its total TRX treasury holdings to more than 677 million tokens, in a move framed as part of its strategy to grow its Tron DAT holdings and support long-term shareholder value. The company also reiterated that it regularly disseminates information through SEC filings, its investor relations website, press releases, public calls, webcasts and its X (formerly Twitter) feed, underscoring the importance for investors and media to monitor these channels for potentially material updates on its digital asset strategy and overall corporate developments.

The most recent analyst rating on (TRON) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Tron stock, see the TRON Stock Forecast page.

Tron Secures Strategic Equity Investment from Justin Sun

On December 24, 2025, Tron Inc. entered into a stock purchase agreement with Black Anthem Limited, an entity controlled by TRON blockchain founder and company advisor Justin Sun, under which the investor agreed to buy 13,067,151 shares of Tron Inc.’s common stock at $1.3775 per share, providing approximately $18 million in gross proceeds paid in stablecoins. Announced publicly on December 29, 2025, the strategic equity investment is intended to materially expand Tron Inc.’s TRX treasury portfolio, strengthen its balance sheet, and further cement its position as the leading publicly traded company aligned with the TRON ecosystem, with the company asserting that the backing from a prominent blockchain figure enhances its credibility in both public equity and digital asset markets and supports its long-term shareholder value strategy.

Tron Stockholders Approve Directors and Auditor at Meeting

On December 16, 2025, Tron Inc. held its virtual annual meeting of stockholders, with about 87.45% of the company’s outstanding common shares represented, constituting a quorum for conducting business. At the meeting, stockholders elected five directors—Richard Miller, Weike Sun, Zhihong Liu, Zi Yang and Christopher Melton—to serve one-year terms, all without opposition, and ratified the appointment of M&K CPAS, PLLC as Tron’s independent registered public accounting firm for the fiscal year ending December 31, 2025, reinforcing continuity in both the company’s board leadership and external audit oversight.

Tron Reports Record Q3 2025 Financial Results

On November 12, 2025, Tron Inc. reported record financial results for the third quarter of 2025, ending September 30. The company achieved a net income of $12,174,266, a significant improvement from the previous year’s net loss. Shareholders’ equity exceeded $239 million, bolstered by a $110 million investment from its largest shareholder. This financial strength is attributed to a disciplined cost structure and strategic investments in digital assets, positioning Tron Inc. for future growth and expansion in its digital asset portfolio.