Toro Corp. (TORO) Revenue History
Annual and quarterly revenue from 2021 to 2024
Compound Annual Growth Rate (CAGR)
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TORO Revenue Growth
Revenue Breakdown (FY 2024)
TORO's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
TORO Revenue Analysis (2021–2024)
As of May 8, 2026, Toro Corp. (TORO) generated trailing twelve-month (TTM) revenue of $21.1 million, reflecting strong growth of +18.2% year-over-year. The most recent quarter (Q3 2025) recorded $6.3 million in revenue, up 54.8% sequentially.
Looking at the longer-term picture, TORO's historical revenue data shows a 3-year CAGR of -8.5%. The company achieved its highest annual revenue of $78.5 million in 2023.
Revenue diversification analysis shows TORO's business is primarily driven by Voyage Charter (100%). With over half of revenue concentrated in Voyage Charter, the company maintains significant focus in this area while developing other growth vectors.
When compared to Industrials sector peers including TOPS (+111.5% YoY), GLBS (+26.8% YoY), and ESEA (+7.0% YoY), TORO has underperformed the peer group in terms of revenue growth. Compare TORO vs TOPS →
TORO Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| TOROCurrent | $21M | +18.2% | - | -24.8% | |
 TOPS | $86M | +111.5% | +5.4% | 32.4% | |
 GLBS | $44M | +26.8% | +30.3% | 5.4% | |
 ESEA | $228M | +7.0% | +33.7% | 57.0% | |
 SHIP | $158M | -7.5% | +20.1% | 26.0% | |
 TRMD | $1.6B | -21.3% | +17.6% | 42.3% |
TORO Historical Revenue Data (2021–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $22.4M | -71.5% | $4.7M | 20.8% | $-5,557,155 | -24.8% |
| 2023 | $78.5M | +401.8% | $53.2M | 67.8% | $136.9M | 174.4% |
| 2022 | $15.6M | -46.6% | $11.1M | 71.2% | $6.9M | 44.3% |
| 2021 | $29.3M | - | $155K | 0.5% | $-734,184 | -2.5% |
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Start ComparisonTORO — Frequently Asked Questions
Quick answers to the most common questions about buying TORO stock.
Is TORO's revenue growth accelerating or slowing?
TORO revenue is accelerating at +18.2% year-over-year, exceeding the 5-year CAGR of N/A. TTM revenue reached $21M. Growth momentum has increased versus prior periods.
What is TORO's long-term revenue growth rate?
Toro Corp.'s 5-year revenue CAGR of N/A reflects the sustained expansion pattern. Current YoY growth of +18.2% is above this long-term average.
How is TORO's revenue distributed by segment?
TORO reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2021-2024 are available for download. Segment mix reveals concentration and diversification trends.