Tron

TRON

Leisure · Consumer Cyclical

Price

$1.42

+0.02 (+1.43%)

Market Cap

$47.5M

Exchange

NASDAQ

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Share count rising — dilution

+343.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 23.1M (2021) → 102.6M (2025)

Tron Inc. is a small leisure and entertainment company that designs and manufactures arcade games, redemption machines, and amusement equipment. Its products are sold to arcades, family entertainment centers, bowling alleys, and other venues that offer coin-operated or card-swipe gaming experiences. The company competes in the broader amusement and gaming equipment industry alongside larger players like Raw Thrills and Andamiro.

Tron generates revenue primarily through hardware sales of its arcade cabinets and gaming machines, with customers concentrated in North America and some international markets. With a market cap of around $100 million and a gross margin near 26%, the business has limited pricing power and thin profitability, as reflected in its deeply negative operating margin of roughly -51%. The main risk the company faces is its small scale in a fragmented, competitive industry where larger rivals have stronger distribution networks and more resources to develop new game titles that attract players.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+8.7% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+240.7% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

54.2%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~5 years

$10M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

$10M cash & investments at current burn rate

Growth context

Tron is growing revenue at 9% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

26.9%

Modest — 26.9% gross margin

Operating Margin

-50.4%

Losing money on operations — -50.4%

ROCE

-0.2%

Weak — -0.2% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+10.0%

Steady sales growth (10.0% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

-33%

Weak — only -33% of profit becomes cash

FCF Margin

-38.1%

Burning cash (-38.1%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.00

Conservative — low debt load (0.00)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

9.7x

Attractive valuation — P/E 9.7

P/E under 10. The price tag is small relative to last year's profit.

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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