Income statement, balance sheet and cash flow statement for the last 3 fiscal years, taken from the XBRL data TOYO Co., Ltd files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2024
FY2024
FY2025
Revenue
62.4
177
427
Cost of revenue
45.7
155
331
Gross profit
16.6
21.9
96.3
Selling and marketing
0.02
1.63
5.92
General and administrative
4.63
11.4
31.4
Operating expenses
4.65
13
37.3
Operating income
12
8.86
59
Interest expense
3.26
3.26
3.32
Other non-operating income
-2.1
32.4
-6.51
Pre-tax income
9.89
41.3
52.5
Income tax
0.78
15.4
Net income to minority interests
-0.11
-2.51
Net income
9.89
40.6
39.7
EBITDA
14.6
32.1
95.6
EPS, basic
0.24
1.09
1.14
EPS, diluted
0.24
1.09
1.13
Shares, basic (weighted)
41
30.8
30.1
Shares, diluted (weighted)
41
30.8
30.3
Balance sheet
FY2024
FY2024
FY2025
Cash and equivalents
18
13.7
58.9
Receivables
6.91
11.3
Inventory
40
20
80
Other current assets
0.09
0.73
2.28
Total current assets
82.8
55.4
172
Property, plant and equipment
143
129
221
Lease right-of-use assets
0.54
36.6
34.4
Other non-current assets
0.02
0.19
0.29
Total assets
238
240
441
Accounts payable
37.2
17.6
52.4
Deferred revenue
0.53
3.64
27.6
Short-term debt
16.1
5.47
Total current liabilities
169
125
296
Long-term debt
11.8
21
Lease liabilities
0.37
34.3
34.5
Total liabilities
181
180
330
Total debt
11.8
21
5.47
Paid-in capital
50
14.4
28.8
Retained earnings
9.7
50.3
90
Other comprehensive income
-2.81
-5.49
-7.5
Shareholders' equity
56.9
59.2
111
Minority interests
0.2
Total equity
56.9
59.4
111
Total liabilities and equity
238
240
441
Shares outstanding
41
33.6
36.7
Cash flow statement
FY2024
FY2024
FY2025
Net income
9.89
40.5
37.2
Depreciation and amortization
2.61
23.2
36.6
Stock-based compensation
0.61
9
Deferred income tax
-0.18
Change in receivables
-6.14
-4.58
Change in inventory
-40.7
15.9
-63.4
Change in payables
2.08
3.03
12
Cash from operations
-12.5
46.5
133
Capital expenditures
-114
-42.5
-91.8
Cash from investing
-114
-44
-98.4
Cash from financing
146
-2.09
9.1
Exchange rate effect
-2.45
-2.22
-1.97
Net change in cash
16.9
-1.85
41.7
Free cash flow
-127
4.01
41.2
Interest paid
3.32
Income taxes paid
0.94
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $4.21 on September 28, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
22.5%
Gross profit / revenue.
Operating margin
13.8%
Operating income / revenue.
EBITDA margin
22.4%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
12.3%
Pre-tax income / revenue.
Net margin
9.3%
Net income / revenue.
FCF margin
9.6%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
31.1%
Cash from operations / revenue.
Effective tax rate
29.3%
Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)
46.5%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
11.6%
Net income / average total assets.
Return on invested capital (ROIC)
67.1%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue
2.1%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
21.5%
Capital expenditures / revenue.
D&A / revenue
8.6%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
141.5%
Revenue vs the same period a year earlier. Only from a positive base.
Gross profit growth, 1y
339.9%
Gross profit vs the same period a year earlier. Only from a positive base.
Operating income growth, 1y
566.3%
Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y
197.8%
EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y
-2.3%
Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y
3.7%
EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
186.0%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y
929.5%
Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
87.8%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
84.1%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
-1.4%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.58x
Current assets / current liabilities.
Quick ratio
0.24x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.20x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.05x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
1.2%
Total debt / total assets.
Liabilities / assets
74.8%
Total liabilities / total assets.
Net debt
-$53.4M
Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA
-0.56x
Net debt / EBITDA (twelve months), when EBITDA is positive.
Days inventory + days sales outstanding - days payables.
FCF conversion
104.0%
Free cash flow / net income, when net income is positive.
Capex / operating cash flow
69.0%
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
$1.13
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic
$1.14
Net income per basic share, as reported (split-adjusted).
Revenue per share
$14.09
Revenue / diluted weighted shares.
FCF per share
$1.36
Free cash flow / diluted weighted shares.
Operating cash flow per share
$4.38
Cash from operations / diluted weighted shares.
Book value per share
$3.03
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/E
4.05x
Market cap / net income. Only when net income is positive.
P/S
0.38x
Market cap / revenue.
P/B
1.44x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
1.44x
Market cap / tangible book value, when positive.
P/FCF
3.90x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
1.21x
Market cap / cash from operations, when positive.
EV/Sales
0.25x
Enterprise value / revenue.
EV/EBIT
1.82x
Enterprise value / operating income, when both are positive.
EV/EBITDA
1.12x
Enterprise value / EBITDA, when both are positive.
EV/FCF
2.60x
Enterprise value / free cash flow, when both are positive.
FCF yield
25.7%
Free cash flow / market cap.
Earnings yield
24.7%
Net income / market cap (the inverse of P/E).
What was TOYO Co., Ltd's revenue in fiscal 2025?
TOYO Co., Ltd reported revenue of $427.4M for fiscal 2025, 141.5% higher than the year before.
Was TOYO Co., Ltd profitable in fiscal 2025?
Yes. Net income was $39.7M, a net margin of 9.3%.
How much free cash flow did TOYO Co., Ltd generate in fiscal 2025?
Cash from operations of $133.0M minus capital expenditures of $91.8M left free cash flow of $41.2M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.