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NASDAQ · SEMICONDUCTORS & RELATED DEVICES · SMALL CAP

Toyo Co. Ltd. TOYO

3 fiscal years on record · USD · FY2025 reported · SEC filings only
$427.4M
▲ 141.5% YoY
$39.7M
▼ 2.3% YoY
$41.2M
▲ 929.5% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Its solar cell plant in Ethiopia commenced production in April 2025 with 2GW of production capacity and expanded the capacity to 4GW in August 2025. It completed construction of the first 1GW of capacity and commenced production in October 2025 at its Texas plant. As of December 31, 2025, it had 2,552 full-time employees. For the year ended December 31, 2025, it derived approximately $154.7 million in revenue from sales of solar cells to VSUN. The Company was incorporated as an exempted company limited by shares under the laws of the Cayman Islands on May 16, 2023.

Written from the business description in TOYO Co., Ltd's annual report to the U.S. Securities and Exchange Commission, filed 1 April 2026. Every sentence was checked against that document before publication.

Growth

USD 427.4M
Revenue, FY2025 · full 3-year series below
Revenue $M Net income $M
FY2025 · Revenue 427.4 · Net income 39.7
150M300M
202320242025
Compound annual growth
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

9 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 13.8% · Net 8.7%
10%20%
202320242025
ROE
FY2025 · ROE 46.5%
20%40%60%
202320242025
Three returns, three denominators.

Each USD of equity produced 47 cents of profit this year.

Cash & shareholders

·
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 41.2
15M30M-50M-100M
202320242025

Total assetsUSD 441.4M
EquityUSD 111.3M
CashUSD 58.9M
Gross debtUSD 5.5M
Net debtUSD -53.4M
Current ratio0.58×

The company holds more cash than debt.

The 3-year record

3 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative—not applicable◌not available in our data
TOYO, 3-year financial record
Metric 202520242023
Revenue $B0.40.20.1
Operating income $B0.10.00.0
EBITDA $B0.10.00.0
Income tax $B0.00.0◌
Net income $B0.00.00.0
Free cash flow $B0.00.0−0.1
EPS, diluted $1.131.090.24
Dividend / sh $◌◌◌
Payout % — not applicable: no dividend———
ROE %46.569.917.4
Shares out B0.040.030.04

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

More in this sector

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Provenance

Company facts, as filed

How we verify · 0 failures in 15 reconciliationsAUDITED

Reconciled in 3 of the 3 fiscal years we could check. 32 checks were skipped: the balance sheet is not tagged before 2023. 16 checks were skipped: EPS is not tagged before 2023. 16 checks were skipped: revenue is not tagged before 2023.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivitySemiconductors & Related Devices
Listed onNASDAQ
Incorporated inoutside the United States — SEC code E9
Fiscal year endsDecember 31
SEC categoryemerging growth company
Data on record since2023

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