Toro Corp (TORO) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 9, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed Apr 15, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TORO SEC filings page.
Toro Corp (TORO) reported $21.1M in revenue for fiscal year 2025, down 5.9% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Toro’s dominant mechanic is accounting profit detached from cash generation as capital spending and liabilities reshape liquidity.
In FY2025, net income of$5.9M coincided with operating cash flow of-$6.3M , while capital spending pushed free cash flow to-$73.1M ; reported earnings therefore did not fund the business’s reinvestment. That reverses FY2024, when positive operating cash flow of$10.8M broadly matched free cash flow of$10.7M , indicating that the latest result reflects both weaker operating conversion and a renewed investment cycle.
Capital intensity is episodic rather than steady: capex was only
The balance sheet became materially less conservative: debt-to-equity rose to 1.0x from
Financial Health Signals
Scored against energy companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Toro Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Toro Corp has an operating margin of -22.1%, meaning the company loses $22 on every $100 of revenue. This results in a profitability score of 10/100. This is up from -24.8% the prior year.
Toro Corp's revenue declined 5.9% year-over-year, from $22.4M to $21.1M. This contraction results in a growth score of 39/100.
Toro Corp has a moderate D/E ratio of 1.03. This balance of debt and equity financing earns a leverage score of 45/100.
With a current ratio of 2.30, Toro Corp holds $2.30 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 78/100.
Toro Corp's reported free cash flow margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 4/100.
Toro Corp generates a 3.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 14/100. This is down from 12.7% the prior year.
Toro Corp scores 1.45, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($221.9M) relative to total liabilities ($167.7M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Toro Corp passes 1 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Toro Corp used $1.07 of operating cash (-$6.3M OCF vs $5.9M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Toro Corp reported an operating loss of $4.6M against $68K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
None of these metrics is reported for Q4 2025.
Cash & Balance Sheet
Toro Corp held $87.4M in cash as of Q4 2025; long-term debt is not reported for that period.
Not reported for Q4 2025.
Not reported for Q4 2025.
Margins & Returns
None of these metrics is reported for Q4 2025.
Capital Allocation
None of these metrics is reported for Q4 2025.
TORO Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
TORO Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2520-F | Q2'256-K | Q4'2420-F | Q2'2410-Q | Q4'2310-K | Q2'2310-Q | Q4'2210-K | Q4'2110-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $331.3M+1.5% | $326.3M+0.9% | $326.4M+5.9% | $323.4M+30.4% | $308.1M+95.6% | $248.1M | $157.5M+27.0% | $124.0M |
| Current Assets | $96.3M+74.2% | $122.0M-36.7% | $55.3M-66.5% | $192.8M+18.6% | $165.1M+201.5% | $162.6M | $54.8M+333.6% | $12.6M |
| Cash & Equivalents | $87.4M+135.0% | $114.7M-39.4% | $37.2M-75.5% | $189.2M+47.9% | $151.8M+263.2% | $127.9M | $41.8M+741.8% | $5.0M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $200K+2.8% | $122K-43.1% | $195K+12.9% | $214K-75.1% | $173K-80.7% | $858K | $894K-71.5% | $3.1M |
| Accounts Receivable | $70K-83.2% | $0-100.0% | $416K-70.3% | $661K-86.2% | $1.4M-86.8% | $4.8M | $10.6M+158.8% | $4.1M |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $167.7M+31.7% | $130.3M+2.8% | $127.4M-3.0% | $126.7M-4.5% | $131.4M+673.5% | $132.7M | $17.0M-15.2% | $20.0M |
| Current Liabilities | $41.9M+793.2% | $6.1M+8.5% | $4.7M-40.3% | $5.6M-43.7% | $7.9M+20.6% | $10.0M | $6.5M-6.1% | $6.9M |
| Non-Current Liabilities | $0 | $0 | $0-100.0% | $0-100.0% | $3.9M-62.7% | $4.6M | $10.5M-19.9% | $13.1M |
| Long-Term Debt | N/A | N/A | N/A | $0-100.0% | $5.2M-60.1% | $5.9M | $13.1M-18.3% | $16.0M |
| Total Equity | $163.6M-17.8% | $195.9M-0.4% | $199.0M+12.6% | $196.7M+70.4% | $176.7M+25.8% | $115.4M | $140.5M+35.1% | $104.0M |
| Retained Earnings | $104.3M-25.7% | $141.2M+0.3% | $140.4M+17.3% | $140.7M+140.1% | $119.7M+374067871.9% | $58.6M | -$32 | N/A |
Not reported in any period shown, so not listed: Goodwill.
TORO Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
TORO Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Toro Corp TORO | FY2025 | $21.1M | $5.9M | 28.1% | $221.9M | 32/100 |
| Seanergy Maritime Hldgs Corp SHIP | FY2025 | $158.1M | $21.2M | 13.4% | $395.9M | 61/100 |
| Stealthgas Inc GASS | FY2025 | $173.2M | $60.6M | 35.0% | $345.4M | 81/100 |
| Diana Shipping Inc DSX | FY2025 | $213.5M | $17.8M | 8.3% | $368.3M | 52/100 |
| Seacor Marine Ho SMHI | FY2025 | $227.8M | -$27.8M | -12.2% | $260.5M | 29/100 |
| High-Trend International Group HTCO | FY2025 | $214.4M | -$21.5M | -10.0% | $22.9M | 38/100 |
Where Toro Corp Ranks
Frequently Asked Questions
What is Toro Corp's annual revenue?
Toro Corp (TORO) reported $21.1M in total revenue for fiscal year 2025. This represents a -5.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Toro Corp's revenue growing?
Toro Corp (TORO) revenue declined by 5.9% year-over-year, from $22.4M to $21.1M in fiscal year 2025.
Is Toro Corp profitable?
Yes, Toro Corp (TORO) reported a net income of $5.9M in fiscal year 2025, with a net profit margin of 28.1%.
What is Toro Corp's EBITDA?
Toro Corp (TORO) had EBITDA of $285K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Toro Corp's operating margin?
Toro Corp (TORO) had an operating margin of -22.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Toro Corp's net profit margin?
Toro Corp (TORO) had a net profit margin of 28.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Toro Corp's return on equity (ROE)?
Toro Corp (TORO) has a return on equity of 3.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Toro Corp's free cash flow?
Toro Corp (TORO) recorded an outflow of $73.1M in free cash flow during fiscal year 2025. This represents a -785.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Toro Corp's operating cash flow?
Toro Corp (TORO) recorded an outflow of $6.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Toro Corp's total assets?
Toro Corp (TORO) had $331.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Toro Corp's capital expenditures?
Toro Corp (TORO) invested $66.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Toro Corp's current ratio?
Toro Corp (TORO) had a current ratio of 2.30 as of fiscal year 2025, which is generally considered healthy.
What is Toro Corp's debt-to-equity ratio?
Toro Corp (TORO) had a debt-to-equity ratio of 1.03 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Toro Corp's return on assets (ROA)?
Toro Corp (TORO) had a return on assets of 1.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Toro Corp's P/E ratio?
Toro Corp (TORO) trades at 37.4x earnings, its market capitalization divided by net income of $5.9M net income, FY2025. The market capitalization is $221.9M as of Sep 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Toro Corp's price-to-sales ratio?
Toro Corp (TORO) trades at 10.5x sales, its market capitalization divided by revenue of $21.1M revenue, FY2025. The market capitalization is $221.9M as of Sep 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Toro Corp's Altman Z-Score?
Toro Corp (TORO) has an Altman Z-Score of 1.45, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Toro Corp's Piotroski F-Score?
Toro Corp (TORO) has a Piotroski F-Score of 1 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Toro Corp's earnings high quality?
For every $1 of reported earnings, Toro Corp (TORO) used $1.07 of operating cash (-$6.3M OCF vs $5.9M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Toro Corp cover its interest payments?
Toro Corp (TORO) reported an operating loss of $4.6M against $68K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Toro Corp?
Toro Corp (TORO) scores 32 out of 100 on our Financial Health Score, indicating weak standing within its energy companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.