Saturday 17 October 2026
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TOYO Co., Ltd.
TOYO Technology Solar
TOYO Co., Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $427.4 million, up 141.5% from fiscal 2024. In the quarter to June 2026, EPS grew 666.7%, free cash flow grew 139.1% and total debt fell 16.4%, each against the same quarter a year earlier.
4.00
0.12
−2.91%
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Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | — | — | — | — | — | — | 9.84 | 10.20 | 1.36 | 2.57 |
Analyst estimates 2026–2028 Powerpack |
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| High | — | — | — | — | — | — | 10.38 | 11.19 | 15.61 | 8.39 | |||||
| People | |||||||||||||||
| People | Employees | — | — | — | — | — | — | — | 814 | 528 | 2,552 | ||||
| Revenue/emp, $m | — | — | — | — | — | — | — | 0.08 | 0.34 | 0.17 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | — | 62 | 177 | 427 | ||||
| Gross margin, % | — | — | — | — | — | — | — | 26.67 | 12.37 | 22.54 | |||||
| EBT | — | — | — | — | — | — | 0 | 10 | 41 | 53 | |||||
| EBT margin, % | — | — | — | — | — | — | 0.00 | 15.85 | 23.33 | 12.29 | |||||
| Net income | — | 0 | — | — | — | — | 0 | 10 | 41 | 37 | |||||
| Depreciation | — | — | — | — | — | — | 0 | 3 | 23 | 37 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | — | 0.00 | 1.52 | 5.75 | 14.24 | ||||
| Earnings | — | — | — | — | — | — | 0.00 | 0.24 | 1.09 | 0.98 | |||||
| Cash flow | — | — | — | — | — | — | 0.00 | (0.31) | 1.51 | 4.43 | |||||
| Capex | — | — | — | — | — | — | 0.00 | (2.79) | (1.43) | (3.06) | |||||
| Free cash flow | — | — | — | — | — | — | 0.00 | (3.09) | 0.08 | 1.37 | |||||
| Book value | — | — | — | — | — | — | 0.00 | 1.39 | 1.93 | 3.71 | |||||
| Shares, m | — | — | — | — | — | — | 12 | 41 | 31 | 30 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | 47.91 | 14.70 | 73.80 | ||||
| P/S | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | |||||
| P/B | — | — | — | — | — | — | — | 1.38 | 0.40 | 1.77 | |||||
| EV/Sales | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | |||||
| EV/FCF | — | — | — | — | — | — | — | (5.60) | (0.67) | 5.87 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | — | 0 | (13) | 47 | 133 | ||||
| Capex | — | — | — | — | — | — | 0 | (114) | (44) | (92) | |||||
| Free cash flow | — | — | — | — | — | — | 0 | (127) | 2 | 41 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | (1) | (86) | (70) | (124) | ||||
| Total debt | — | — | — | — | — | — | 0 | 12 | 71 | 71 | |||||
| Net debt | — | — | — | — | — | — | (2) | (6) | 56 | 18 | |||||
| Shareholders’ equity | — | — | — | — | — | — | 8 | 57 | 59 | 111 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | — | — | — | — | — | — | 0.00 | 7.94 | 14.03 | 10.05 | ||||
| ROIC | — | — | — | — | — | — | 0.00 | 14.70 | 4.80 | 28.49 | |||||
| ROE | — | — | — | — | — | — | 0.00 | 30.55 | 57.64 | 40.11 | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
TOYO Co., Ltd. vs peers in Solar (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| DQ DAQO New Energy Corp. | $720.7M | — (loss-making) | — (loss-making) | −16.67% (below 0%: shrinking) | n/m | −60.43% (below 0%: shrinking) | (132.00%) | (156.53%) | Compare |
| ARRY Array Technologies, Inc. | $549.8M | — (loss-making) | 43.9× | −5.57% (below 0%: shrinking) | −73.68% (below 0%: shrinking) | +205.42% (above 0%: growing) | 29.12% | 10.16% | Compare |
| JKS JinkoSolar Holding Company Limited | $420.2M | — (loss-making) | — (loss-making) | −27.48% (below 0%: shrinking) | n/m | +78.73% (above 0%: growing) | 4.15% | (11.62%) | Compare |
| TOYO TOYO Co., Ltd. | $176.0M | 3.5× | 6.7× | — | +666.67% (above 0%: growing) | +139.07% (above 0%: growing) | 31.28% | 19.08% | |
| SPWR CSLM Acquisition Corp. | $84.2M | — (loss-making) | — (loss-making) | −17.03% (below 0%: shrinking) | n/m | −499.66% (below 0%: shrinking) | 45.50% | (42.76%) | Compare |
| TYGO Tigo Energy, Inc. | $64.2M | 5.5× | 75.9× | +5.62% (above 0%: growing) | n/m | −81.15% (below 0%: shrinking) | 39.35% | (6.61%) | Compare |
| PN PN Smart Energy Limited | $32.9M | — | — | — | — | — | — | — | Compare |
| FTCI FTC Solar, Inc. | $30.3M | — (loss-making) | 5.1× | +30.83% (above 0%: growing) | n/m | +428.99% (above 0%: growing) | (8.54%) | (52.48%) | Compare |
| SPRU Spruce Power Holding Corporation | $28.1M | — (loss-making) | — (loss-making) | −8.75% (below 0%: shrinking) | n/m | −43.41% (below 0%: shrinking) | 67.84% | 32.21% | Compare |
| Median of peers | $74.2M | — | 43.9× | −8.75% | — | −43.41% | 29.12% | (11.62%) |
TOYO Co., Ltd. (TOYO) key facts
- Strength: TOYO Co., Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $427.4 million, up 141.5% from fiscal 2024.
- TOYO Co., Ltd. (TOYO) is a Solar company in the Technology sector, listed on Nasdaq.
- As of October 16, 2026, TOYO traded at $4.00, a market capitalization of $176.0 million.
- Return on equity was 40.1% and debt-to-equity 0.28.
- Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 1.68 (distress zone) for fiscal 2025.