What is Toro Corp's earnings per share (EPS)?

Toro Corp (TORO) reported diluted earnings per share of $0.08 for fiscal year 2025. This represents a -92.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Toro Corp Financials

TORO

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Toro Corp (TORO) financial statements, including the 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).

Rhea AI TORO FY2025 2026-04-22

Toro’s earnings are being shaped more by non-operating outcomes than by its core revenue engine, inside an asset-heavy balance sheet.

The business moved from operating profit in FY2023 to operating losses in FY2024 and FY2025, yet net income stayed positive in both later years; in FY2025 that meant $5.9M of profit alongside -$4.6M of operating income. With operating cash flow also negative at -$6.3M, reported earnings are being created below the operating line rather than converted from day-to-day activity.

Toro looks asset-heavy relative to sales: FY2025 carried $331.3M of assets against only $21.1M of revenue, so balance-sheet efficiency matters more here than headline sales growth. The near-term liquidity picture is still cash-supported, with $87.4M of cash covering a large share of $41.9M of current liabilities.

FY2025’s main operating shift was capital intensity: capital spending rose to $66.8M, which pushed free cash flow down to -$73.1M even before any financing decisions. At the same time, debt relative to equity increased from 0.6x to 1.0x from FY2024 to FY2025, meaning the company became more liability-funded while its operations were not self-financing that investment.

Financial Health Signals

Financial Profile 35/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). 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.

Profitability

Toro Corp has an operating margin of -22.1%, meaning the company retains $-22 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -24.8% the prior year.

Growth

Toro Corp's revenue declined 5.9% year-over-year, from $22.4M to $21.1M. This contraction results in a growth score of 29/100.

Leverage

Toro Corp carries a low D/E ratio of 1.03, meaning only $1.03 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 81/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Toro Corp's current ratio of 2.30 indicates adequate short-term liquidity, earning a score of 42/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

While Toro Corp generated -$6.3M in operating cash flow, capex of $66.8M consumed most of it, leaving -$73.1M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Toro Corp's ROE of 3.6% shows moderate profitability relative to equity, earning a score of 59/100. This is down from 12.7% the prior year.

Piotroski F-Score Weak

1/9

Toro Corp passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Low Quality

-1.07x

For every $1 of reported earnings, Toro Corp generates $-1.07 in operating cash flow (-$6.3M OCF vs $5.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-68.3x

Toro Corp earns $-68.3 in operating income for every $1 of interest expense (-$4.6M vs $68K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$21.1M

YoY-5.9%

Toro Corp generated $21.1M in revenue in fiscal year 2025. This represents a decrease of 5.9% from the prior year.

EBITDA

$285K

YoY+143.4%

Toro Corp's EBITDA was $285K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 143.4% from the prior year.

Net Income

$5.9M

YoY-76.5%

Toro Corp reported $5.9M in net income in fiscal year 2025. This represents a decrease of 76.5% from the prior year.

EPS (Diluted)

$0.08

YoY-92.7%

Toro Corp earned $0.08 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 92.7% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$73.1M

YoY-785.8%

Toro Corp generated -$73.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 785.8% from the prior year.

Cash & Debt

$87.4M

YoY+135.0%

Toro Corp held $87.4M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

21M

YoY+12.5%

Toro Corp had 21M shares outstanding in fiscal year 2025. This represents an increase of 12.5% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

-22.1%

YoY+2.8pp

Toro Corp's operating margin was -22.1% in fiscal year 2025, reflecting core business profitability. This is up 2.8 percentage points from the prior year.

Net Margin

28.1%

YoY-84.4pp

Toro Corp's net profit margin was 28.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 84.4 percentage points from the prior year.

Return on Equity

3.6%

YoY-9.0pp

Toro Corp's ROE was 3.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 9.0 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

YoY-100.0%

Toro Corp spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.

Capital Expenditures

$66.8M

YoY+55865.5%

Toro Corp invested $66.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 55865.5% from the prior year.

TORO Income Statement

Metric	FY25	FY24	FY23	FY22	FY21
Revenue	$21.1M-5.9%	$22.4M+0.4%	$22.3M+42.6%	$15.6M-46.6%	$29.3M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$8.6M-15.6%	$10.2M+90.4%	$5.4M+155.9%	$2.1M+135.4%	$889K
Operating Income	-$4.6M+16.3%	-$5.6M-167.8%	$8.2M+18.3%	$6.9M+1044.1%	-$734K
Interest Expense	$68K-70.5%	$231K-76.1%	$964K+6.8%	$903K+78.4%	$506K
Income Tax	$0	$0-100.0%	$47K	$0-100.0%	$206K
Net Income	$5.9M-76.5%	$25.2M-82.1%	$140.6M+181.7%	$49.9M+3590.4%	-$1.4M
EPS (Diluted)	$0.08-92.7%	$1.09-62.0%	$2.87+145.3%	$1.17+880.0%	$-0.15

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q4'21
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

TORO Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21
Total Assets	$331.3M+1.5%	$326.4M+5.9%	$308.1M+95.6%	$157.5M+27.0%	$124.0M
Current Assets	$96.3M+74.2%	$55.3M-66.5%	$165.1M+201.5%	$54.8M+333.6%	$12.6M
Cash & Equivalents	$87.4M+135.0%	$37.2M-75.5%	$151.8M+263.2%	$41.8M+741.8%	$5.0M
Inventory	$200K+2.8%	$195K+12.9%	$173K-80.7%	$894K-71.5%	$3.1M
Accounts Receivable	$70K-83.2%	$416K-70.3%	$1.4M-86.8%	$10.6M+158.8%	$4.1M
Goodwill	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$167.7M+31.7%	$127.4M-3.0%	$131.4M+673.5%	$17.0M-15.2%	$20.0M
Current Liabilities	$41.9M+793.2%	$4.7M-40.3%	$7.9M+20.6%	$6.5M-6.1%	$6.9M
Long-Term Debt	N/A	N/A	$5.2M-60.1%	$13.1M-18.3%	$16.0M
Total Equity	$163.6M-17.8%	$199.0M+12.6%	$176.7M+25.8%	$140.5M+35.1%	$104.0M
Retained Earnings	$104.3M-25.7%	$140.4M+17.3%	$119.7M+374067871.9%	-$32	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q4'21
Total Assets	$331.3M+1.6%	$326.3M0.0%	$326.4M+0.9%	$323.4M+5.0%	$308.1M+24.2%	$248.1M+57.5%	$157.5M+27.0%	$124.0M
Current Assets	$96.3M-21.0%	$122.0M+120.7%	$55.3M-71.3%	$192.8M+16.7%	$165.1M+1.6%	$162.6M+196.9%	$54.8M+333.6%	$12.6M
Cash & Equivalents	$87.4M-23.8%	$114.7M+208.3%	$37.2M-80.3%	$189.2M+24.7%	$151.8M+18.7%	$127.9M+206.1%	$41.8M+741.8%	$5.0M
Inventory	$200K+64.8%	$122K-37.6%	$195K-8.8%	$214K+23.8%	$173K-79.9%	$858K-4.0%	$894K-71.5%	$3.1M
Accounts Receivable	$70K	$0-100.0%	$416K-37.0%	$661K-52.9%	$1.4M-70.8%	$4.8M-54.8%	$10.6M+158.8%	$4.1M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$167.7M+28.7%	$130.3M+2.3%	$127.4M+0.5%	$126.7M-3.5%	$131.4M-1.0%	$132.7M+681.2%	$17.0M-15.2%	$20.0M
Current Liabilities	$41.9M+586.4%	$6.1M+30.1%	$4.7M-16.6%	$5.6M-28.4%	$7.9M-21.4%	$10.0M+53.4%	$6.5M-6.1%	$6.9M
Long-Term Debt	N/A	N/A	N/A	$0-100.0%	$5.2M-11.1%	$5.9M-55.1%	$13.1M-18.3%	$16.0M
Total Equity	$163.6M-16.5%	$195.9M-1.6%	$199.0M+1.2%	$196.7M+11.3%	$176.7M+53.1%	$115.4M-17.8%	$140.5M+35.1%	$104.0M
Retained Earnings	$104.3M-26.1%	$141.2M+0.5%	$140.4M-0.2%	$140.7M+17.6%	$119.7M+104.2%	$58.6M+183185968.8%	-$32	N/A

TORO Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21
Operating Cash Flow	-$6.3M-158.8%	$10.8M-80.8%	$56.1M+35.1%	$41.5M+1040.8%	-$4.4M
Capital Expenditures	$66.8M+55865.5%	$119K-99.8%	$72.2M+24323.4%	$296K-99.7%	$111.3M
Free Cash Flow	-$73.1M-785.8%	$10.7M+166.2%	-$16.1M-139.0%	$41.2M+135.6%	-$115.7M
Investing Cash Flow	N/A	N/A	$50.7M+330.1%	$11.8M+110.6%	-$111.3M
Financing Cash Flow	N/A	N/A	$6.3M+138.0%	-$16.5M-113.6%	$121.4M
Dividends Paid	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$0-100.0%	$3.7M+256.1%	$1.0M	$0	$0

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q4'21
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

TORO Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21
Gross Margin	N/A	N/A	N/A	N/A	N/A
Operating Margin	-22.1%+2.8pp	-24.8%-61.6pp	36.8%-7.6pp	44.3%+46.8pp	-2.5%
Net Margin	28.1%-84.4pp	112.6%-518.0pp	630.5%+311.3pp	319.3%+324.2pp	-4.9%
Return on Equity	3.6%-9.0pp	12.7%-66.9pp	79.6%+44.0pp	35.5%+36.9pp	-1.4%
Return on Assets	1.8%-5.9pp	7.7%-37.9pp	45.6%+14.0pp	31.7%+32.9pp	-1.1%
Current Ratio	2.30-9.5	11.77-9.2	21.01+12.6	8.40+6.6	1.82
Debt-to-Equity	1.03+0.4	0.64+0.6	0.03-0.1	0.09-0.1	0.15
FCF Margin	-346.8%-394.4pp	47.6%+119.8pp	-72.2%-335.9pp	263.7%+659.1pp	-395.4%

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q4'21
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	2.30-17.7	19.96+8.2	11.77-22.5	34.24+13.2	21.01+4.8	16.25+7.9	8.40+6.6	1.82
Debt-to-Equity	1.03+0.4	0.67+0.0	0.64+0.6	0.00-0.0	0.03-0.0	0.05-0.0	0.09-0.1	0.15
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Similar Companies

Seanergy Maritime Hldgs Corp SHIP

$306.6M

Stealthgas Inc GASS

$345.8M

Diana Shipping Inc DSX

$305.1M

Seacor Marine Ho SMHI

$209.2M

High-Trend International Group HTCO

$28.5M

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) generated -$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) generated -$6.3M in operating cash flow during fiscal year 2025, representing cash generated from 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.

How many shares does Toro Corp have outstanding?

Toro Corp (TORO) had 21M shares outstanding as of fiscal year 2025.

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 cash runway?

Based on fiscal year 2025 data, Toro Corp (TORO) had $87.4M in cash against an annual operating cash burn of $6.3M. This gives an estimated cash runway of approximately 165 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Toro Corp's Piotroski F-Score?

Toro Corp (TORO) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. 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?

Toro Corp (TORO) has an earnings quality ratio of -1.07x, considered low quality (accrual-driven). 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) has an interest coverage ratio of -68.3x, meaning it can struggle to cover its interest obligations. 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 35 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.