TOYO Co., Ltd.(TOYO)Earnings, Financials & Key Ratios
TOYO•NASDAQ
$10.84
$364M mkt cap·10.8× P/E·Price updated May 7, 2026
AboutTOYO Co., Ltd. engages in the upstream production of wafer and silicon, midstream production of solar cell, downstream production of photovoltaic (PV) modules, and other stages of the solar power supply chain. Additionally, the company also manufactures solar PV modules. The company was founded in 2022 and is based in Tokyo, Japan.Show more
- Revenue$177M+183.8%
- EBITDA$32M+122.2%
- Net Income$41M+313.6%
- EPS (Diluted)1.00+316.7%
- Gross Margin12.37%-53.6%
- EBITDA Margin18.32%-21.7%
- Operating Margin5.2%-73.0%
- Net Margin23.11%+45.8%
- ROE70.31%+334.6%
- ROIC5.26%-39.0%
- Debt/Equity1.24-32.4%
- Interest Coverage2.82-23.3%
TOYO Key Insights
TOYO Co., Ltd. (TOYO) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Excellent 3Y average ROE of 29.8%
- ✓Momentum leader: RS Rating 95 (top 5%)
- ✓Healthy 5Y average net margin of 19.5%
✗Weaknesses
No significant weaknesses identified
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
TOYO Price & Volume
TOYO Co., Ltd. (TOYO) stock price & volume — 10-year historical chart
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TOYO Growth Metrics
TOYO Co., Ltd. (TOYO) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years-
TTM-11.21%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM129.8%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM114.54%
Return on Capital
10 Years6.47%
5 Years6.47%
3 Years8.76%
Last Year10.01%
TOYO Recent Earnings
TOYO Co., Ltd. (TOYO) EPS & revenue vs analyst estimates — last 3 quarters
●Beat EPS 1/3 qtrs (100%)●Beat Revenue 1/3 qtrs (100%)
Q2 2026Latest
Mar 31, 2026EPS
$0.94
Est $0.68
+38.2%
Revenue
$288M
Est $260M
+11.0%
Q4 2025
Sep 12, 2025EPS
$0.05
Revenue
$70M
Q2 2025
May 20, 2025EPS
$0.05
Revenue
$70M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 31, 2026 | $0.94vs $0.68+38.2% | $288Mvs $260M+11.0% |
| Q4 2025 | Sep 12, 2025 | $0.05 | $70M |
| Q2 2025 | May 20, 2025 | $0.05 | $70M |
Based on last 3 quarters of dataView full earnings history →
TOYO Peer Comparison
TOYO Co., Ltd. (TOYO) competitors in Solar modules and inverters — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 ITRN | 1.38B | 58.95 | 20.19 | 6.77% | 16.15% | 27.27% | 0.02 | |
 EME | 41.15B | 924.06 | 32.78 | 16.64% | 7.52% | 38.32% | 0.23 | |
 PWR | 112.65B | 750.73 | 110.40 | 19.76% | 3.72% | 12.96% | 0.13 | |
 TTEK | 8B | 30.69 | 33 | 4.69% | 8.96% | 24.36% | 0.55 | |
 MYRG | 6.65B | 427.38 | 56.76 | 8.79% | 3.71% | 22.14% | 0.16 | |
 PRIM | 5.86B | 108.01 | 21.52 | 18.97% | 3.31% | 15.21% | 0.76 | |
 FLR | 7.77B | 51.08 | -25.67 | -4.98% | -2.26% | -10.68% | 0.33 | |
 KBR | 4.21B | 33.20 | 10.34 | 0.57% | 5.21% | 26.47% | 2.07 |
Compare TOYO vs Peers
TOYO Co., Ltd. (TOYO) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
TOYO Income Statement
TOYO Co., Ltd. (TOYO) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Jun'22 | Jun'23 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|
| Sales/Revenue | 0 | 0 | 62.38M | 177M | 177.98M |
| Revenue Growth % | - | - | - | 183.76% | -11.21% |
| Cost of Goods Sold | 0 | 0 | 45.75M | 155.1M | 159.65M |
| COGS % of Revenue | - | - | 73.34% | 87.63% | - |
| Gross Profit | 0▲ 0% | 0▲ 0% | 16.63M▲ 0% | 21.9M▲ 31.7% | 18.34M▲ 0% |
| Gross Margin % | - | - | 26.66% | 12.37% | 10.3% |
| Gross Profit Growth % | - | - | - | 31.69% | - |
| Operating Expenses | 381.31K | 987.77K | 4.64M | 13.04M | 22.26M |
| OpEx % of Revenue | - | - | 7.44% | 7.37% | - |
| Selling, General & Admin | 381.31K | 987.77K | 4.65M | 12.7M | 22.26M |
| SG&A % of Revenue | - | - | 7.45% | 7.18% | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | -6K | 337.88K | 0 |
| Operating Income | -381.3K▲ 0% | -987.77K▼ 159.1% | 11.99M▲ 1313.5% | 9.2M▼ 23.2% | -3.92M▲ 0% |
| Operating Margin % | - | - | 19.22% | 5.2% | -2.2% |
| Operating Income Growth % | - | -159.05% | 1313.54% | -23.25% | - |
| EBITDA | -246.89K | -987.67K | 14.59M | 32.44M | 19.98M |
| EBITDA Margin % | - | - | 23.4% | 18.32% | 11.22% |
| EBITDA Growth % | - | -300.04% | 1577.64% | 122.25% | -18.97% |
| D&A (Non-Cash Add-back) | 0 | 96 | 2.61M | 23.24M | 23.9M |
| EBIT | -246.89K | -1.12M | 11.99M | 9.2M | -3.92M |
| Net Interest Income | 134.41K | 9 | -3.26M | -3.26M | -3.27M |
| Interest Income | 134.41K | 9 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 3.26M | 3.26M | 3.27M |
| Other Income/Expense | 134.41K | 3.17M | -2.1M | 32.42M | 31.45M |
| Pretax Income | -246.89K▲ 0% | 2.18M▲ 983.7% | 9.89M▲ 353.2% | 41.28M▲ 317.4% | 27.53M▲ 0% |
| Pretax Margin % | - | - | 15.85% | 23.32% | 15.47% |
| Income Tax | 0 | 0 | 0 | 781.24K | 4.08M |
| Effective Tax Rate % | 0% | 0% | 0% | 1.89% | 14.81% |
| Net Income | -246.89K▲ 0% | 2.18M▲ 983.7% | 9.89M▲ 353.2% | 40.9M▲ 313.6% | 24.42M▲ 0% |
| Net Margin % | - | - | 15.85% | 23.11% | 13.72% |
| Net Income Growth % | - | 983.75% | 353.23% | 313.58% | 129.8% |
| Net Income (Continuing) | -246.89K | 2.18M | 9.89M | 40.5M | 23.45M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 199.45K | 3.23M |
| EPS (Diluted) | -0.02▲ 0% | 0.19▲ 1022.3% | 0.24▲ 26.3% | 1.00▲ 316.7% | 0.72▲ 0% |
| EPS Growth % | - | 1022.33% | 26.32% | 316.67% | 114.54% |
| EPS (Basic) | -0.02 | 0.19 | 0.24 | 1.09 | - |
| Diluted Shares Outstanding | 11.96M | 11.54M | 41M | 41M | 34.04M |
| Basic Shares Outstanding | 11.96M | 11.54M | 41M | 41M | 34.04M |
| Dividend Payout Ratio | - | - | - | - | - |
TOYO Balance Sheet
TOYO Co., Ltd. (TOYO) balance sheet — assets, liabilities & shareholders' equity
| Line item | Jun'22 | Jun'23 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|
| Total Current Assets | 310.23K | 36.61K | 82.75M | 55.39M | 117.88M |
| Cash & Short-Term Investments | 276.28K | 746 | 18.04M | 13.65M | 28.19M |
| Cash Only | 276.28K | 746 | 18.04M | 13.65M | 28.19M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 0 | 18.75M | 16.61M |
| Days Sales Outstanding | - | - | - | 38.67 | 36.27 |
| Inventory | 0 | 0 | 40M | 19.98M | 60.02M |
| Days Inventory Outstanding | - | - | 319.15 | 47.03 | 91.45 |
| Other Current Assets | 0 | 0 | 167.9K | 2.6M | 4.07M |
| Total Non-Current Assets | 93.55M | 70.69M | 155.53M | 184.41M | 235.75M |
| Property, Plant & Equipment | 0 | 711.34K | 143.32M | 165.67M | 205.17M |
| Fixed Asset Turnover | - | - | 0.44x | 1.07x | 0.96x |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 93.55M | 70.69M | 42.4M | 1.62M | 1.62M |
| Other Non-Current Assets | 0 | -711.34K | -30.19M | 17.13M | 97.02M |
| Total Assets | 93.86M▲ 0% | 70.72M▼ 24.7% | 238.28M▲ 236.9% | 239.8M▲ 0.6% | 353.62M▲ 0% |
| Asset Turnover | - | - | 0.26x | 0.74x | 0.60x |
| Asset Growth % | - | -24.65% | 236.92% | 0.64% | 1241.07% |
| Total Current Liabilities | 82.73K | 2.88M | 169.19M | 125.03M | 249.26M |
| Accounts Payable | 0 | 1.08M | 37.22M | 17.63M | 54.97M |
| Days Payables Outstanding | - | - | 296.98 | 41.49 | 82.99 |
| Short-Term Debt | 0 | 1.87M | 91.9M | 16.13M | 112.78M |
| Deferred Revenue (Current) | 0 | 0 | 29.35M | 23.73M | 23.73M |
| Other Current Liabilities | 82.73K | -78.64K | 10.58M | 0 | 76.72M |
| Current Ratio | 3.75x | 0.01x | 0.49x | 0.44x | 0.44x |
| Quick Ratio | 3.75x | 0.01x | 0.25x | 0.28x | 0.28x |
| Cash Conversion Cycle | - | - | - | 44.22 | 44.73 |
| Total Non-Current Liabilities | 3.22M | 198.72K | 12.19M | 55.33M | 34.12M |
| Long-Term Debt | 0 | 0 | 11.82M | 21M | 0 |
| Capital Lease Obligations | 0 | 198.72K | 372.73K | 34.33M | 136.9M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 3.22M | 0 | 0 | 0 | 0 |
| Total Liabilities | 3.3M | 5.39M | 181.39M | 180.36M | 283.38M |
| Total Debt | 0 | 198.72K | 104.24M | 73.57M | 149.35M |
| Net Debt | -276.28K | 1.87M | 86.21M | 59.92M | 121.16M |
| Debt / Equity | - | 0.00x | 1.83x | 1.24x | 1.24x |
| Debt / EBITDA | - | - | 7.14x | 2.27x | 7.48x |
| Net Debt / EBITDA | - | - | 5.91x | 1.85x | 1.85x |
| Interest Coverage | - | - | 3.68x | 2.82x | -1.20x |
| Total Equity | 90.56M▲ 0% | 65.34M▼ 27.9% | 56.9M▼ 12.9% | 59.44M▲ 4.5% | 70.24M▲ 0% |
| Equity Growth % | - | -27.85% | -12.92% | 4.47% | 153.76% |
| Book Value per Share | 7.57 | 5.66 | 1.39 | 1.45 | 2.06 |
| Total Shareholders' Equity | 90.56M | 7.85M | 56.9M | 59.24M | 67.01M |
| Common Stock | 93.05M | 4.1K | 4.1K | 3.36K | 3.53K |
| Retained Earnings | -2.49M | -186.84K | 9.7M | 50.32M | 53.78M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 395.66K | -2.81M | -5.49M | -7.17M |
| Minority Interest | 0 | 0 | 0 | 199.45K | 3.23M |
TOYO Cash Flow Statement
TOYO Co., Ltd. (TOYO) cash flow — operating, investing & free cash flow history
| Line item | Jun'22 | Jun'23 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|
| Cash from Operations | -182.13K | -778.98K | -12.53M | 46.51M | 46.51M |
| Operating CF Margin % | - | - | -20.09% | 26.27% | - |
| Operating CF Growth % | - | -327.71% | -1508.4% | 471.19% | 28186.12% |
| Net Income | -246.89K | -186.84K | 9.89M | 40.5M | 24.42M |
| Depreciation & Amortization | 0 | 6.46K | 2.72M | 23.52M | 24.36M |
| Stock-Based Compensation | 0 | 0 | 0 | 609K | 609K |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 15.98K | -807.38K | 193.7K | -32M | -11.31M |
| Working Capital Changes | 48.79K | 208.79K | -25.33M | 13.88M | 26.68M |
| Change in Receivables | 0 | 0 | 0 | -18.12M | -6.14M |
| Change in Inventory | 0 | 0 | -40.73M | 15.88M | 15.88M |
| Change in Payables | 0 | 0 | 2.08M | 3.03M | 0 |
| Cash from Investing | -92.92M | 26.04M | -114.24M | -44.04M | -74.65M |
| Capital Expenditures | 0 | -1.46M | -114.24M | -44.04M | -74.58M |
| CapEx % of Revenue | - | - | 183.14% | 24.88% | - |
| Acquisitions | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - |
| Other Investing | 0 | 27.5M | 0 | 0 | -67.39K |
| Cash from Financing | 93.38M | -25.53M | 146.15M | -2.09M | 3.07M |
| Debt Issued (Net) | 0 | 1.87M | 105.61M | -6.98M | 0 |
| Equity Issued (Net) | 1000K | -1000K | 1000K | 1000K | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | -27.41M | 0 | 0 | 0 |
| Other Financing | -500K | 0 | -1.82M | -1.12M | 3.07M |
| Net Change in Cash | 276.28K▲ 0% | -275.54K▼ 199.7% | 16.93M▲ 6245.1% | -1.85M▼ 110.9% | -44.39M▲ 0% |
| Free Cash Flow | -182.13K▲ 0% | -2.24M▼ 1131.3% | -126.77M▼ 5552.8% | 2.46M▲ 101.9% | -9.83M▲ 0% |
| FCF Margin % | - | - | -203.23% | 1.39% | -5.52% |
| FCF Growth % | - | -1131.34% | -5552.76% | 101.94% | 65.25% |
| FCF per Share | -0.02 | -0.19 | -3.09 | 0.06 | 0.06 |
| FCF Conversion (FCF/Net Income) | 0.74x | -0.36x | -1.27x | 1.14x | -0.40x |
| Interest Paid | 0 | 0 | 0 | 3.32M | 2.37M |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 |
TOYO Key Ratios
TOYO Co., Ltd. (TOYO) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|
| Return on Equity (ROE) | 2.8% | 16.18% | 70.31% | 34.76% |
| Return on Invested Capital (ROIC) | -0.95% | 8.62% | 5.26% | 5.26% |
| Gross Margin | - | 26.66% | 12.37% | 10.3% |
| Net Margin | - | 15.85% | 23.11% | 13.72% |
| Debt / Equity | 0.00x | 1.83x | 1.24x | 1.24x |
| Interest Coverage | - | 3.68x | 2.82x | -1.20x |
| FCF Conversion | -0.36x | -1.27x | 1.14x | -0.40x |
| Revenue Growth | - | - | 183.76% | -11.21% |
TOYO Frequently Asked Questions
TOYO Co., Ltd. (TOYO) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
TOYO Co., Ltd. (TOYO) reported $178.0M in revenue for fiscal year 2024.
TOYO Co., Ltd. (TOYO) grew revenue by 183.8% over the past year. This is strong growth.
Yes, TOYO Co., Ltd. (TOYO) is profitable, generating $24.4M in net income for fiscal year 2024 (23.1% net margin).
Dividend & Returns
TOYO Co., Ltd. (TOYO) has a return on equity (ROE) of 70.3%. This is excellent, indicating efficient use of shareholder capital.
TOYO Co., Ltd. (TOYO) had negative free cash flow of $9.8M in fiscal year 2024, likely due to heavy capital investments.
Explore More TOYO
TOYO Co., Ltd. (TOYO) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
DCA Calculator
Dollar cost averaging vs lump sum
Dividend History
Yield, growth, payout safety & DRIP
Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates