Toyo Equity Warrants Financials
This page shows Toyo Equity Warrants (TOYWF) financial statements, including the 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).
Scale-driven expansion has turned TOYWF from an externally financed builder into a cash-generating but negative-working-capital operator.
The key shift is not just faster sales: in FY2023,$146.1M of financing cash was needed while free cash flow fell to-$126.6M . By FY2025, operating cash flow of$133.0M covered$91.8M of capex, meaning the same investment engine had become largely self-funding even with a working-capital deficit.
FY2024's profit mix was unusual: net margin reached
The balance sheet still carries a short-term squeeze: current liabilities exceeded current assets by about
Financial Health Signals
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 Toyo Equity Warrants'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 Equity Warrants has an operating margin of 13.8%, meaning the company retains $14 of operating profit per $100 of revenue. This results in a moderate score of 49/100, indicating healthy but not exceptional operating efficiency. This is up from 5.0% the prior year.
Toyo Equity Warrants's revenue surged 141.5% year-over-year to $427.4M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Toyo Equity Warrants has a moderate D/E ratio of 2.97. This balance of debt and equity financing earns a leverage score of 41/100.
Toyo Equity Warrants'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 Equity Warrants's free cash flow margin of 9.7% results in a low score of 0/100. Capital expenditures of $91.8M absorb a large share of operating cash flow.
Toyo Equity Warrants 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 100/100. This is down from 68.6% the prior year.
Toyo Equity Warrants passes 8 of 9 financial strength tests. 3 of 4 profitability signals pass, all 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Toyo Equity Warrants 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 Equity Warrants earns $80.0 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 Equity Warrants generated $427.4M in revenue in fiscal year 2025. This represents an increase of 141.5% from the prior year.
Toyo Equity Warrants'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 Equity Warrants reported $39.7M in net income in fiscal year 2025. This represents a decrease of 2.3% from the prior year.
Toyo Equity Warrants 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 Equity Warrants 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 Equity Warrants held $58.9M in cash against $0 in long-term debt as of fiscal year 2025.
Toyo Equity Warrants had 38M shares outstanding in fiscal year 2025. This represents a decrease of 19.0% from the prior year.
Margins & Returns
Toyo Equity Warrants'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 Equity Warrants'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 Equity Warrants'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 Equity Warrants'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 Equity Warrants 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.
TOYWF Income Statement
| Metric | Q4'25 | Q2'25 | Q4'24 | Q2'24 | Q4'23 | Q4'22 |
|---|---|---|---|---|---|---|
| Revenue | 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 |
| Gross Profit | 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 |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | $187K |
| Operating Income | N/A | N/A | N/A | N/A | N/A | -$187K |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | -$583 |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | N/A | N/A | N/A | N/A | N/A | -$187K |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | $0.00 |
TOYWF Balance Sheet
| Metric | Q4'25 | Q2'25 | Q4'24 | Q2'24 | Q4'23 | Q4'22 |
|---|---|---|---|---|---|---|
| Total Assets | $441.4M+24.8% | $353.6M+47.5% | $239.8M-0.7% | $241.4M+1.3% | $238.3M | N/A |
| Current Assets | $171.8M+45.8% | $117.9M+112.8% | $55.4M-42.6% | $96.6M+16.7% | $82.8M | N/A |
| Cash & Equivalents | $58.9M+60.5% | $36.7M+168.5% | $13.7M-69.2% | $44.4M+146.1% | $18.0M+773.2% | $2.1M |
| Inventory | $80.0M+49.4% | $53.5M+168.0% | $20.0M-26.5% | $27.2M-32.0% | $40.0M | N/A |
| Accounts Receivable | $11.3M-7.4% | $12.2M+75.8% | $6.9M | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $330.2M+16.5% | $283.4M+57.1% | $180.4M+7.3% | $168.0M-7.4% | $181.4M | N/A |
| Current Liabilities | $295.7M+18.6% | $249.3M+99.4% | $125.0M-14.0% | $145.4M-14.1% | $169.2M | N/A |
| Long-Term Debt | N/A | $13.7M-34.8% | $21.0M-6.3% | $22.4M+89.6% | $11.8M | N/A |
| Total Equity | $111.3M+66.0% | $67.0M+13.1% | $59.2M-19.3% | $73.4M+29.0% | $56.9M+625.0% | $7.8M |
| Retained Earnings | $90.0M+67.3% | $53.8M+6.9% | $50.3M+72.0% | $29.3M+201.5% | $9.7M | N/A |
TOYWF Cash Flow Statement
| Metric | Q4'25 | Q2'25 | Q4'24 | Q2'24 | Q4'23 | Q4'22 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | N/A | N/A | N/A | N/A | N/A | -$5.6M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | $244K |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | -$5.8M |
| Investing Cash Flow | N/A | N/A | N/A | N/A | N/A | -$244K |
| Financing Cash Flow | N/A | N/A | N/A | N/A | N/A | $7.6M |
| Dividends Paid | 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 |
TOYWF Financial Ratios
| Metric | Q4'25 | Q2'25 | Q4'24 | Q2'24 | Q4'23 | Q4'22 |
|---|---|---|---|---|---|---|
| Gross Margin | 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 |
| Net Margin | 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 | -2.4% |
| Return on Assets | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Ratio | 0.58+0.1 | 0.47+0.0 | 0.44-0.2 | 0.66+0.2 | 0.49 | N/A |
| Debt-to-Equity | 2.97+2.8 | 0.20-0.1 | 0.35+0.0 | 0.31+0.1 | 0.21 | N/A |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A |
Note: The current ratio is below 1.0 (0.58), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Frequently Asked Questions
What is Toyo Equity Warrants's annual revenue?
Toyo Equity Warrants (TOYWF) 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 Equity Warrants's revenue growing?
Toyo Equity Warrants (TOYWF) revenue grew by 141.5% year-over-year, from $177.0M to $427.4M in fiscal year 2025.
Is Toyo Equity Warrants profitable?
Yes, Toyo Equity Warrants (TOYWF) reported a net income of $39.7M in fiscal year 2025, with a net profit margin of 9.3%.
What is Toyo Equity Warrants's EBITDA?
Toyo Equity Warrants (TOYWF) had EBITDA of $95.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Toyo Equity Warrants's gross margin?
Toyo Equity Warrants (TOYWF) 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 Equity Warrants's operating margin?
Toyo Equity Warrants (TOYWF) 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 Equity Warrants's net profit margin?
Toyo Equity Warrants (TOYWF) 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 Equity Warrants's return on equity (ROE)?
Toyo Equity Warrants (TOYWF) 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 Equity Warrants's free cash flow?
Toyo Equity Warrants (TOYWF) 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 Equity Warrants's operating cash flow?
Toyo Equity Warrants (TOYWF) generated $133.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Toyo Equity Warrants's total assets?
Toyo Equity Warrants (TOYWF) had $441.4M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Toyo Equity Warrants's capital expenditures?
Toyo Equity Warrants (TOYWF) invested $91.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Toyo Equity Warrants's current ratio?
Toyo Equity Warrants (TOYWF) 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 Equity Warrants's debt-to-equity ratio?
Toyo Equity Warrants (TOYWF) 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 Equity Warrants's return on assets (ROA)?
Toyo Equity Warrants (TOYWF) 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 Equity Warrants's Piotroski F-Score?
Toyo Equity Warrants (TOYWF) has a Piotroski F-Score of 8 out of 9, indicating strong 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 Toyo Equity Warrants's earnings high quality?
Toyo Equity Warrants (TOYWF) 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 Equity Warrants cover its interest payments?
Toyo Equity Warrants (TOYWF) has an interest coverage ratio of 80.0x, 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 Equity Warrants?
Toyo Equity Warrants (TOYWF) scores 49 out of 100 on our Financial Profile, indicating moderate 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.