TOYO CO LTD Financials
TOYO CO LTD (TOYO) reported $427.4M in revenue for fiscal year 2025, up 141.5% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 3 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).
TOYO’s cash generation is starting to fund capital-heavy growth, even as short-term obligations still dominate the balance sheet.
Operating cash flow of$133.0M covered most of$91.8M in capital spending in the latest year, a meaningful shift in how expansion is financed. That is a clear change from FY2023, when growth leaned on external financing, yet the current ratio stayed under 0.6x throughout the period, so cash conversion improved faster than near-term liquidity, with internal cash generation advancing before balance-sheet flexibility caught up.
Revenue scale is helping, but the margin pattern still looks transitional rather than settled. Gross margin rebounded to
The operating cycle is also demanding more cash as the company gets bigger. Inventory rose to
Financial Health Signals
Scored against operating 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 TOYO CO LTD'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.
TOYO CO LTD has an operating margin of 13.8%, meaning the company retains $14 of operating profit per $100 of revenue. This strong profitability earns a score of 69/100, reflecting efficient cost management and pricing power. This is up from 5.0% the prior year.
TOYO CO LTD's revenue surged 141.5% year-over-year to $427.4M, reflecting rapid business expansion. This strong growth earns a score of 98/100.
TOYO CO LTD has elevated debt relative to equity (D/E of 2.97), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 21/100, reflecting increased financial risk.
TOYO CO LTD's current ratio of 0.58 is below the typical benchmark, resulting in a score of 6/100. This tight liquidity could limit financial flexibility if cash inflows slow.
TOYO CO LTD's free cash flow margin of 9.7% results in a low score of 10/100. Capital expenditures of $91.8M absorb a large share of operating cash flow.
TOYO CO LTD earns a strong 35.6% return on equity (ROE), meaning it generates $36 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 80/100. This is down from 68.6% the prior year.
TOYO CO LTD scores 1.73, below the 1.81 distress threshold. 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.
TOYO CO LTD passes 7 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, TOYO CO LTD generates $3.35 in operating cash flow ($133.0M OCF vs $39.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
TOYO CO LTD earns $80.02 in operating income for every $1 of interest expense ($59.0M vs $738K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
TOYO CO LTD generated $427.4M in revenue in fiscal year 2025. This represents an increase of 141.5% from the prior year.
TOYO CO LTD's EBITDA was $95.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 197.8% from the prior year.
TOYO CO LTD reported $39.7M in net income in fiscal year 2025. This represents a decrease of 2.3% from the prior year.
TOYO CO LTD earned $1.13 per diluted share (EPS) in fiscal year 2025. This represents an increase of 3.7% from the prior year.
Cash & Balance Sheet
TOYO CO LTD generated $41.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 929.5% from the prior year.
TOYO CO LTD held $58.9M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
TOYO CO LTD's gross margin was 22.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 10.2 percentage points from the prior year.
TOYO CO LTD's operating margin was 13.8% in fiscal year 2025, reflecting core business profitability. This is up 8.8 percentage points from the prior year.
TOYO CO LTD's net profit margin was 9.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 13.7 percentage points from the prior year.
TOYO CO LTD's ROE was 35.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 32.9 percentage points from the prior year.
Capital Allocation
TOYO CO LTD invested $91.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 115.9% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
TOYO Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 |
|---|---|---|---|
| Revenue | $427.4M+141.5% | $177.0M+183.7% | $62.4M |
| Cost of Revenue | $331.0M+113.5% | $155.1M+239.0% | $45.7M |
| Gross Profit | $96.3M+339.9% | $21.9M+31.6% | $16.6M |
| SG&A Expenses | $31.4M+174.9% | $11.4M+146.4% | $4.6M |
| Operating Income | $59.0M+566.3% | $8.9M-26.1% | $12.0M |
| Interest Expense | $738K+4.1% | $709K+234.3% | $212K |
| Income Tax | $15.4M+1867.4% | $781K | N/A |
| Net Income | $39.7M-2.3% | $40.6M+310.7% | $9.9M |
| EPS (Diluted) | $1.13+3.7% | $1.09+354.2% | $0.24 |
Not reported in any period shown, so not listed: R&D Expenses.
TOYO Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 |
|---|---|---|---|
| Total Assets | $441.4M+84.1% | $239.8M+0.6% | $238.3M |
| Current Assets | $171.8M+210.3% | $55.4M-33.1% | $82.8M |
| Cash & Equivalents | $58.9M+331.1% | $13.7M-24.3% | $18.0M |
| Inventory | $80.0M+300.2% | $20.0M-50.0% | $40.0M |
| Accounts Receivable | $11.3M+62.8% | $6.9M | N/A |
| Total Liabilities | $330.2M+83.1% | $180.4M-0.6% | $181.4M |
| Current Liabilities | $295.7M+136.5% | $125.0M-26.1% | $169.2M |
| Long-Term Debt | N/A | $21.0M+77.7% | $11.8M |
| Total Equity | $111.3M+87.8% | $59.2M+4.1% | $56.9M |
| Retained Earnings | $90.0M+78.8% | $50.3M+418.6% | $9.7M |
Not reported in any period shown, so not listed: Goodwill.
TOYO Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 |
|---|---|---|---|
| Operating Cash Flow | $133.0M+186.0% | $46.5M+471.2% | -$12.5M |
| Capital Expenditures | $91.8M+115.9% | $42.5M-62.8% | $114.1M |
| Free Cash Flow | $41.2M+929.5% | $4.0M+103.2% | -$126.6M |
| Investing Cash Flow | -$98.4M-123.4% | -$44.0M+61.4% | -$114.2M |
| Financing Cash Flow | $9.1M+535.4% | -$2.1M-101.4% | $146.1M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TOYO Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 |
|---|---|---|---|
| Gross Margin | 22.5%+10.2pp | 12.4%-14.3pp | 26.7% |
| Operating Margin | 13.8%+8.8pp | 5.0%-14.2pp | 19.2% |
| Net Margin | 9.3%-13.7pp | 22.9%+7.1pp | 15.8% |
| Return on Equity | 35.6%-32.9pp | 68.6%+51.2pp | 17.4% |
| Return on Assets | 9.0%-8.0pp | 16.9%+12.8pp | 4.2% |
| Current Ratio | 0.58+0.1x | 0.440.0x | 0.49 |
| Debt-to-Equity | 2.97+2.6x | 0.35+0.1x | 0.21 |
| FCF Margin | 9.7%+7.4pp | 2.3% | -203.0% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: FCF Margin.
Note: The current ratio is below 1.0 (0.58), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Where TOYO CO LTD Ranks
Frequently Asked Questions
What is TOYO CO LTD's annual revenue?
TOYO CO LTD (TOYO) reported $427.4M in total revenue for fiscal year 2025. This represents a 141.5% 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 TOYO CO LTD's revenue growing?
TOYO CO LTD (TOYO) revenue grew by 141.5% year-over-year, from $177.0M to $427.4M in fiscal year 2025.
Is TOYO CO LTD profitable?
Yes, TOYO CO LTD (TOYO) reported a net income of $39.7M in fiscal year 2025, with a net profit margin of 9.3%.
What is TOYO CO LTD's EBITDA?
TOYO CO LTD (TOYO) had EBITDA of $95.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is TOYO CO LTD's gross margin?
TOYO CO LTD (TOYO) had a gross margin of 22.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is TOYO CO LTD's operating margin?
TOYO CO LTD (TOYO) had an operating margin of 13.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is TOYO CO LTD's net profit margin?
TOYO CO LTD (TOYO) had a net profit margin of 9.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is TOYO CO LTD's return on equity (ROE)?
TOYO CO LTD (TOYO) has a return on equity of 35.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is TOYO CO LTD's free cash flow?
TOYO CO LTD (TOYO) generated $41.2M in free cash flow during fiscal year 2025. This represents a 929.5% 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 TOYO CO LTD's operating cash flow?
TOYO CO LTD (TOYO) generated $133.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are TOYO CO LTD's total assets?
TOYO CO LTD (TOYO) had $441.4M in total assets as of fiscal year 2025, including both current and long-term assets.
What are TOYO CO LTD's capital expenditures?
TOYO CO LTD (TOYO) invested $91.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is TOYO CO LTD's current ratio?
TOYO CO LTD (TOYO) had a current ratio of 0.58 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is TOYO CO LTD's debt-to-equity ratio?
TOYO CO LTD (TOYO) had a debt-to-equity ratio of 2.97 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is TOYO CO LTD's return on assets (ROA)?
TOYO CO LTD (TOYO) had a return on assets of 9.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is TOYO CO LTD's Altman Z-Score?
TOYO CO LTD (TOYO) has an Altman Z-Score of 1.73, 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 TOYO CO LTD's Piotroski F-Score?
TOYO CO LTD (TOYO) has a Piotroski F-Score of 7 out of 8 computable signals; 1 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 TOYO CO LTD's earnings high quality?
TOYO CO LTD (TOYO) has an earnings quality ratio of 3.35x, considered cash-backed (high quality). 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 TOYO CO LTD cover its interest payments?
TOYO CO LTD (TOYO) has an interest coverage ratio of 80.02x, meaning it can comfortably 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 TOYO CO LTD?
TOYO CO LTD (TOYO) scores 47 out of 100 on our Financial Health Score, indicating moderate standing within its operating 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.