TOYO Co. (TOYO) financial statements
TOYO Co. reported revenue of $427M in fiscal 2025, up 161.8% a year over 2 years.
Net income was $40M and the operating margin 13.8%, against 19.2% in 2023.
Free cash flow was $41M.
The diluted share count fell 26% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from TOYO Co.'s 10-K filings with the SEC.
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | $62M | $177M | $427M |
| Cost of revenue | $46M | $155M | $331M |
| Gross profit | $17M | $22M | $96M |
| Selling, general and admin | $5M | $13M | $37M |
| Operating income | $12M | $9M | $59M |
| Interest expense | $3M | $3M | $3M |
| Pre-tax income | $10M | $41M | $53M |
| Income tax | — | $781,238 | $15M |
| Net income | $10M | $41M | $40M |
| EPS (diluted) | $0.24 | $1.09 | $1.13 |
| Diluted shares | 41M | 31M | 30M |
| Gross margin | 26.7% | 12.4% | 22.5% |
| Operating margin | 19.2% | 5.0% | 13.8% |
| Net margin | 15.9% | 23.0% | 9.3% |
Balance sheet
Fiscal years, from TOYO Co.'s 10-K filings with the SEC.
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Cash and short-term investments | $18M | $14M | $52M |
| Receivables | — | $7M | $11M |
| Inventory | $40M | $20M | $80M |
| Total current assets | $83M | $55M | $172M |
| Property, plant and equipment | $143M | $129M | $221M |
| Total assets | $238M | $240M | $441M |
| Total current liabilities | $169M | $125M | $296M |
| Long-term debt | $12M | $21M | — |
| Total liabilities | $181M | $180M | $330M |
| Shareholders' equity | $57M | $59M | $111M |
| Net debt | -$6M | $7M | -$46M |
Cash flow
Fiscal years, from TOYO Co.'s 10-K filings with the SEC.
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating cash flow | -$13M | $47M | $133M |
| Capital spending | $114M | $43M | $92M |
| Free cash flow | -$127M | $4M | $41M |
| Stock-based compensation | — | $609,000 | $9M |
| Free cash flow margin | -203.0% | 2.3% | 9.6% |
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Open TOYO in InvestinglyQuestions
What was TOYO Co.'s revenue in 2025?
$427M in fiscal 2025, from its 10-K filing.
How much free cash flow does TOYO Co. generate?
$41M in fiscal 2025 (operating cash flow minus capital spending).
From TOYO Co.'s annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.