TOYONasdaqSemiconductors & Related DevicesFiscal year ends December 31Also trades as TOYWF
TOYO Co., Ltd
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 1, 2026
$3.96−0.04 (-0.88%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- 3.5
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2022 to 2025
Gross margin
22.5%
Operating margin
13.8%
Net margin
9.3%
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +141.5% | – | – | – | |
| Gross profit | +339.9% | – | – | – | |
| Operating income | +566.3% | – | – | – | |
| Net income | -2.3% | – | – | – | |
| EPS, diluted | +3.7% | – | – | – | |
| Free cash flow | +929.5% | – | – | – |
Returns and balance sheet
4 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2022 | FY2022 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | 46.5% | |
| Return on assets | – | – | 11.6% | |
| Current ratio | – | – | 0.58 | |
| Debt to equity | – | – | – | |
| Net debt to EBITDA | – | – | – | |
| Interest coverage | – | – | 17.8× | |
| Inventory turnover | – | – | 6.6× | |
| Capex to revenue | – | – | 21.5% | |
| Diluted shares | – | – | 30M |
Cash use needs five years of cash flow figures
TOYO does not report operating cash flow and capital expenditure for each of the last five fiscal years.
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin9.3%
×Asset turnover1.25×
×Equity multiplier4.00×
=Return on equity, FY202546.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 9.3% | 1.25× | 4.00× | 46.5% |
| FY2024 | 23.0% | 0.74× | 4.12× | 69.9% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$39.66M
- Cash generatingOperating cash flow above zero$132.99M
- Return on assets improvedROA up on the prior year17.0% → 16.5%
- Earnings backed by cashOperating cash flow above net income$132.99M vs $39.66M
- Less leverageLong-term debt to assets fell8.8% → –
- Better liquidityCurrent ratio rose0.44 → 0.58
- No dilutionShare count did not rise31M → 30M
- Gross margin improvedGross margin up on the prior year12.37% → 22.54%
- More efficientAsset turnover rose0.74 → 1.78