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TOYO (TOYO) Financials

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$5.86 -0.20 (-3.22%)
As of 10:54 AM Eastern
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Annual Income Statements for TOYO

Annual Income Statements for TOYO

This table shows TOYO's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 9.89 41 40
Consolidated Net Income / (Loss)		 9.89 41 37
Net Income / (Loss) Continuing Operations		 9.89 41 37
Total Pre-Tax Income 		9.89 41 53
Total Operating Income		 12 8.86 59
Total Gross Profit		 17 22 96
Total Revenue		 62 177 427
Operating Revenue		 62 177 427
Total Cost of Revenue		 46 155 331
Operating Cost of Revenue		 46 155 331
Total Operating Expenses		 4.65 13 37
Selling, General & Admin Expense		 4.63 11 31
Marketing Expense		 0.02 1.63 5.92
Total Other Income / (Expense), net		 -2.10 32 -6.51
Interest Expense		 3.26 3.26 3.32
Other Income / (Expense), net		 1.16 36 -3.20
Income Tax Expense		 0.00 0.78 15
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.00 -0.23 -2.51
Basic Earnings per Share		 $0.24 $1.09 $1.14
Weighted Average Basic Shares Outstanding		 41M 30.75M 30.10M
Diluted Earnings per Share		 $0.24 $1.09 $1.13
Weighted Average Diluted Shares Outstanding		 41M 30.75M 30.33M
Weighted Average Basic & Diluted Shares Outstanding		 - 46.60M 37.76M

Quarterly Income Statements for TOYO

No quarterly income statements for TOYO are available.

Annual Cash Flow Statements for TOYO

This table details how cash moves in and out of TOYO's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 17 -1.85 42
Net Cash From Operating Activities		 -13 47 133
Net Cash From Continuing Operating Activities		 -13 47 133
Net Income / (Loss) Continuing Operations		 9.89 41 37
Consolidated Net Income / (Loss)		 9.89 41 37
Depreciation Expense		 2.61 23 37
Amortization Expense		 0.29 0.46 3.21
Non-Cash Adjustments To Reconcile Net Income		 -22 1.94 18
Changes in Operating Assets and Liabilities, net		 -3.76 -20 38
Net Cash From Investing Activities		 -114 -44 -98
Net Cash From Continuing Investing Activities		 -114 -44 -98
Purchase of Property, Plant & Equipment		 -114 -43 -92
Acquisitions		 0.00 0.00 -6.65
Other Investing Activities, net		 -0.13 -1.54 0.00
Net Cash From Financing Activities		 146 -2.09 9.10
Net Cash From Continuing Financing Activities		 146 -2.09 9.10
Repayment of Debt		 0.00 -78 -63
Repurchase of Preferred Equity		 -1.82 -1.12 0.00
Issuance of Debt		 106 71 69
Issuance of Common Equity		 0.00 6.00 0.00
Other Financing Activities, net		 42 0.01 3.66
Cash Interest Paid		 0.00 3.32 1.95
Cash Income Taxes Paid		 0.00 0.00 0.94

Quarterly Cash Flow Statements for TOYO

No quarterly cash flow statements for TOYO are available.

Annual Balance Sheets for TOYO

This table presents TOYO's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
Total Assets		 238 240 441
Total Current Assets		 83 55 172
Cash & Equivalents		 18 14 52
Restricted Cash		 0.08 1.88 0.71
Accounts Receivable		 0.00 19 12
Inventories, net		 40 20 80
Prepaid Expenses		 25 0.39 25
Other Current Assets		 0.09 0.73 2.28
Plant, Property, & Equipment, net		 143 129 221
Total Noncurrent Assets		 12 55 49
Noncurrent Deferred & Refundable Income Taxes		 - 0.00 0.18
Other Noncurrent Operating Assets		 13 55 49
Total Liabilities & Shareholders' Equity		 238 240 441
Total Liabilities		 181 180 330
Total Current Liabilities		 169 125 296
Short-Term Debt		 0.00 16 36
Accounts Payable		 43 21 71
Current Deferred & Payable Income Tax Liabilities		 0.00 0.78 15
Other Current Liabilities		 126 82 173
Total Noncurrent Liabilities		 12 60 34
Long-Term Debt		 12 21 0.00
Capital Lease Obligations		 - 34 34
Other Noncurrent Operating Liabilities		 0.00 4.62 0.00
Commitments & Contingencies		 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 57 59 111
Total Preferred & Common Equity		 57 59 111
Total Common Equity		 57 59 111
Common Stock		 50 14 29
Retained Earnings		 9.70 50 90
Accumulated Other Comprehensive Income / (Loss)		 -2.81 -5.49 -7.50
Noncontrolling Interest		 0.00 0.20 0.00

Quarterly Balance Sheets for TOYO

No quarterly balance sheets for TOYO are available.

Annual Metrics And Ratios for TOYO

This table displays calculated financial ratios and metrics derived from TOYO's official financial filings.

Metric 2023 2024 2025
Period end date 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 0.00 0.00
DEI Adjusted Shares Outstanding		 0.00 0.00 0.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 0.00 0.00
Growth Metrics		 - - -
Revenue Growth		 0.00% 183.69% 141.52%
EBITDA Growth		 0.00% 325.11% 40.09%
EBIT Growth		 0.00% 238.74% 25.36%
NOPAT Growth		 0.00% -27.48% 380.43%
Net Income Growth		 0.00% 309.54% -8.27%
EPS Growth		 0.00% 354.17% 3.67%
Operating Cash Flow Growth		 0.00% 471.19% 185.95%
Free Cash Flow Firm Growth		 0.00% 0.00% 149.26%
Invested Capital Growth		 0.00% 127.99% 12.26%
Revenue Q/Q Growth		 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00%
EBIT Q/Q Growth		 0.00% 0.00% 0.00%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00%
Net Income Q/Q Growth		 0.00% 0.00% 0.00%
EPS Q/Q Growth		 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 0.00%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00%
Profitability Metrics		 - - -
Gross Margin		 26.67% 12.37% 22.54%
EBITDA Margin		 25.73% 38.56% 22.37%
Operating Margin		 19.22% 5.01% 13.81%
EBIT Margin		 21.08% 25.17% 13.07%
Profit (Net Income) Margin		 15.85% 22.89% 8.69%
Tax Burden Percent		 100.00% 98.11% 70.74%
Interest Burden Percent		 75.20% 92.67% 94.06%
Effective Tax Rate		 0.00% 1.89% 29.26%
Return on Invested Capital (ROIC)		 23.69% 10.48% 34.11%
ROIC Less NNEP Spread (ROIC-NNEP)		 57.00% 138.67% 21.68%
Return on Net Nonoperating Assets (RNNOA)		 -6.31% 59.15% 9.42%
Return on Equity (ROE)		 17.38% 69.63% 43.53%
Cash Return on Invested Capital (CROIC)		 0.00% -67.57% 22.56%
Operating Return on Assets (OROA)		 5.52% 18.64% 16.39%
Return on Assets (ROA)		 4.15% 16.94% 10.91%
Return on Common Equity (ROCE)		 17.38% 69.51% 43.48%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 12 8.69 42
NOPAT Margin		 19.22% 4.91% 9.77%
Net Nonoperating Expense Percent (NNEP)		 -33.31% -128.20% 12.43%
Return On Investment Capital (ROIC_SIMPLE)		 17.44% 6.64% 22.96%
Cost of Revenue to Revenue		 73.33% 87.63% 77.46%
SG&A Expenses to Revenue		 7.43% 6.45% 7.34%
R&D to Revenue		 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 7.45% 7.37% 8.73%
Earnings before Interest and Taxes (EBIT)		 13 45 56
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 16 68 96
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 0.00 1.75 1.60
Price to Tangible Book Value (P/TBV)		 0.00 1.75 1.60
Price to Revenue (P/Rev)		 0.00 0.59 0.42
Price to Earnings (P/E)		 0.00 2.56 4.48
Dividend Yield		 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 39.07% 22.31%
Enterprise Value to Invested Capital (EV/IC)		 0.00 1.39 1.51
Enterprise Value to Revenue (EV/Rev)		 0.00 0.90 0.46
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 2.35 2.05
Enterprise Value to EBIT (EV/EBIT)		 0.00 3.59 3.51
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 18.41 4.69
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 3.44 1.47
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 7.10
Leverage & Solvency		 - - -
Debt to Equity		 0.21 1.20 0.63
Long-Term Debt to Equity		 0.21 0.93 0.31
Financial Leverage		 -0.11 0.43 0.43
Leverage Ratio		 4.19 4.11 3.99
Compound Leverage Factor		 3.15 3.81 3.75
Debt to Total Capital		 17.20% 54.59% 38.82%
Short-Term Debt to Total Capital		 0.00% 12.32% 19.86%
Long-Term Debt to Total Capital		 17.20% 42.27% 18.96%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.15% 0.00%
Common Equity to Total Capital		 82.80% 45.26% 61.18%
Debt to EBITDA		 0.74 1.05 0.74
Net Debt to EBITDA		 -0.39 0.82 0.19
Long-Term Debt to EBITDA		 0.74 0.81 0.36
Debt to NOPAT		 0.99 8.22 1.69
Net Debt to NOPAT		 -0.53 6.43 0.44
Long-Term Debt to NOPAT		 0.99 6.37 0.83
Altman Z-Score		 0.00 1.64 1.66
Noncontrolling Interest Sharing Ratio		 0.00% 0.17% 0.12%
Liquidity Ratios		 - - -
Current Ratio		 0.49 0.44 0.58
Quick Ratio		 0.11 0.26 0.21
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 0.00 -56 28
Operating Cash Flow to CapEx		 -10.98% 109.42% 144.94%
Free Cash Flow to Firm to Interest Expense		 0.00 -17.17 8.32
Operating Cash Flow to Interest Expense		 -3.84 14.25 40.07
Operating Cash Flow Less CapEx to Interest Expense		 -38.83 1.23 12.43
Efficiency Ratios		 - - -
Asset Turnover		 0.26 0.74 1.25
Accounts Receivable Turnover		 0.00 0.00 28.02
Inventory Turnover		 1.14 5.17 6.62
Fixed Asset Turnover		 0.44 1.30 2.44
Accounts Payable Turnover		 1.07 4.86 7.19
Days Sales Outstanding (DSO)		 0.00 0.00 13.03
Days Inventory Outstanding (DIO)		 319.19 70.60 55.11
Days Payable Outstanding (DPO)		 341.76 75.15 50.76
Cash Conversion Cycle (CCC)		 -22.57 -4.55 17.37
Capital & Investment Metrics		 - - -
Invested Capital		 51 115 130
Invested Capital Turnover		 1.23 2.13 3.49
Increase / (Decrease) in Invested Capital		 0.00 65 14
Enterprise Value (EV)		 0.00 160 196
Market Capitalization		 0.00 104 178
Book Value per Share		 $1.39 $1.93 $3.70
Tangible Book Value per Share		 $1.39 $1.93 $3.70
Total Capital		 69 131 182
Total Debt		 12 71 71
Total Long-Term Debt		 12 55 34
Net Debt		 -6.30 56 18
Capital Expenditures (CapEx)		 114 43 92
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -105 -69 -140
Debt-free Net Working Capital (DFNWC)		 -86 -54 -88
Net Working Capital (NWC)		 -86 -70 -124
Net Nonoperating Expense (NNE)		 2.10 -32 4.61
Net Nonoperating Obligations (NNO)		 -6.30 56 18
Total Depreciation and Amortization (D&A)		 2.90 24 40
Debt-free, Cash-free Net Working Capital to Revenue		 -167.62% -39.02% -32.78%
Debt-free Net Working Capital to Revenue		 -138.58% -30.24% -20.53%
Net Working Capital to Revenue		 -138.58% -39.36% -28.98%
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $0.00 $1.09 $1.14
Adjusted Weighted Average Basic Shares Outstanding		 0.00 30.75M 30.10M
Adjusted Diluted Earnings per Share		 $0.00 $1.09 $1.13
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 30.75M 30.33M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 46.60M 37.76M
Normalized Net Operating Profit after Tax (NOPAT)		 8.39 8.69 42
Normalized NOPAT Margin		 13.45% 4.91% 9.77%
Pre Tax Income Margin		 15.85% 23.33% 12.29%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 4.03 13.65 16.83
NOPAT to Interest Expense		 3.68 2.66 12.58
EBIT Less CapEx to Interest Expense		 -30.96 0.63 -10.82
NOPAT Less CapEx to Interest Expense		 -31.31 -10.36 -15.06
Payout Ratios		 - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for TOYO

No quarterly metrics and ratios for TOYO are available.


Financials Breakdown Chart

TOYO Financials - Frequently Asked Questions

According to the most recent income statement we have on file, TOYO's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

TOYO's net income appears to be on an upward trend, with a most recent value of $37.15 million in 2025, rising from $9.89 million in 2023. The previous period was $40.50 million in 2024. See TOYO's forecast for analyst expectations on what's next for the company.

TOYO's total operating income in 2025 was $59.04 million, based on the following breakdown:
  • Total Gross Profit: $96.34 million
  • Total Operating Expenses: $37.30 million

Over the last 2 years, TOYO's total revenue changed from $62.38 million in 2023 to $427.38 million in 2025, a change of 585.2%.

TOYO's total liabilities were at $330.18 million at the end of 2025, a 83.1% increase from 2024, and a 82.0% increase since 2023.

In the past 2 years, TOYO's cash and equivalents has ranged from $13.65 million in 2024 to $51.63 million in 2025, and is currently $51.63 million as of their latest financial filing in 2025.

Over the last 2 years, TOYO's book value per share changed from 1.39 in 2023 to 3.70 in 2025, a change of 166.4%.


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Financial statements for NASDAQ:TOYO last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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