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TOYOTOYO Co., Ltd.
$6.73$247M
Overview & Verdict
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TOYO logoTOYO Co., Ltd.(TOYO)Earnings, Financials & Key Ratios

TOYO•NASDAQ
$6.73
5.1× P/E·Price updated Jul 6, 2026
SectorEnergyIndustrySolarSub-IndustrySolar modules and inverters
AboutTOYO Co., Ltd. engages in the upstream production of wafer and silicon, midstream production of solar cell, downstream production of photovoltaic (PV) modules, and other stages of the solar power supply chain. Additionally, the company also manufactures solar PV modules. The company was founded in 2022 and is based in Tokyo, Japan.Show more
  • Revenue$427M+141.5%
  • EBITDA$99M+207.3%
  • Net Income$40M-2.1%
  • EPS (Diluted)1.31+20.2%
  • Gross Margin22.54%+82.2%
  • EBITDA Margin23.08%+27.2%
  • Operating Margin13.81%+175.9%
  • Net Margin9.28%-59.5%
  • ROE46.47%-33.3%

TOYO Price & Volume

TOYO Co., Ltd. (TOYO) stock price & volume — 10-year historical chart

Loading chart...

Vertical Integration Drives Rapid Solar Margin Expansion

Investment Thesis • Updated 2026Q1

VerdictPositive
Growth:Accelerating
Profitability:Strong
Financial:Healthy
Cash Flow:Improving
Primary Risk:Geopolitical Trade Policy Exposure

Key Thesis Takeaways

  • TOYO has successfully transitioned into a high-growth, vertically integrated solar manufacturer, evidenced by a 105.3% year-over-year revenue surge in 2026Q1.
  • While the company has achieved significant operating leverage with a 25.4% operating margin, investors should monitor the $133.4M deferred revenue balance and potential U.S.
  • trade policy shifts that could disrupt its Vietnam-based production corridor.
  • The current valuation, trading at a 5.54 P/E TTM, appears to discount these geopolitical risks despite the recent achievement of positive free cash flow.

Verdict Logic

the company's ability to generate $28.8M in free cash flow while trading at a 3.06 forward P/E suggests an attractive entry point for investors willing to accept geopolitical trade policy exposure.

TOYO Growth Metrics

TOYO Co., Ltd. (TOYO) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years-
3 Years-
TTM59.68%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM17.87%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM24.15%

Return on Capital

10 Years17.05%
5 Years17.05%
3 Years28.68%
Last Year45.33%

TOYO Recent Earnings

TOYO Co., Ltd. (TOYO) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 2/4 qtrs (67%)●Beat Revenue 1/4 qtrs (33%)
Q2 2026Latest
May 18, 2026
Metric
Actual
Est
EPS
$0.75+4.2%
$0.72
Rev
$143M-29.6%
$203M
Q2 2026
Mar 31, 2026
Metric
Actual
Est
EPS
$0.94+38.2%
$0.68
Rev
$288M+11.0%
$260M
Q4 2025
Sep 12, 2025
Metric
Actual
Est
EPS
$0.05-92.5%
$0.68
Rev
$70M-73.2%
$260M
Q2 2025
May 20, 2025
Metric
Actual
Est
EPS
$0.05
—
Rev
$70M
—
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 18, 2026
$0.75vs $0.72+4.2%
$143Mvs $203M-29.6%
Q2 2026Mar 31, 2026
$0.94vs $0.68+38.2%
$288Mvs $260M+11.0%
Q4 2025Sep 12, 2025
$0.05vs $0.68-92.5%
$70Mvs $260M-73.2%
Q2 2025May 20, 2025
$0.05
$70M
Based on last 4 quarters of dataView full earnings history →

Latest TOYO News

Recent stock market news and headlines for TOYO Co., Ltd. (TOYO)

PRNewsWire·6 days ago
TOYO Appoints Yasunari Harada as Chief Financial Officer and Director

TOKYO, July 1, 2026 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) (OTC: TOYWF), ("TOYO" or the "Company"), a solar manufacturing company, today announced the appointment of Yasunari Harada as Chief Financial Officer and a director of the Company, effective July 1. Mr. Harada, a seasoned executive with over 30 years of senior leadership at leading investment banks, will play a central role in strengthening the Company's financial strategy, investor relations and capital markets engagement.

PRNewsWire·Jun 29, 2026
TOYO Co., Ltd. Joins Russell 3000® and Russell Microcap® Indexes

TOKYO, June 29, 2026 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) (OTC: TOYWF), ("TOYO" or the "Company"), a solar manufacturing company, today announced that it has been added to the broad-market Russell 3000® Index and the Russell Microcap® Index at the conclusion of the 2026 Russell US Indexes Reconstitution, effective at the US market close on June 26, 2026. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies.

PRNewsWire·Jun 26, 2026
TOYO Co., Ltd. Announces Closing of $50 Million Registered Direct Offering

TOKYO, June 26, 2026 /PRNewswire/ -- TOYO Co., Ltd. (Nasdaq: TOYO) (OTC: TOYWF), ("TOYO" or the "Company"), a solar manufacturing company, today announced the closing on June 25, 2026 of its previously announced registered direct offering of an aggregate of 4,545,456 ordinary shares and warrants to purchase up to 4,545,456 ordinary shares, at a combined purchase price of $11.00 per share and associated warrant.

PRNewsWire·Jun 24, 2026
TOYO Co., Ltd. Announces $50 Million Registered Direct Offering

TOKYO, June 24, 2026 /PRNewswire/ -- TOYO Co., Ltd. (Nasdaq: TOYO) (OTC: TOYWF), ("TOYO" or the "Company"), a solar manufacturing company, today announced that it has entered into definitive agreements for the issuance and sale in a registered direct offering of an aggregate of 4,545,456 its ordinary shares and warrants to purchase up to 4,545,456 of its ordinary shares at a combined purchase price of $11.00 per share and associated warrant.

Peers Comparison

Key metrics vs top competitors for TOYO Co., Ltd. (TOYO)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
TOYO logoTOYOTOYO Co., Ltd.Current
$6.73$247.07M5.14141.52%9.28%46.47%—
ITRN logoITRNIturan Location and Control Ltd.
$57.94$1.15B19.846.77%16.03%27.71%—
EME logoEMEEMCOR Group, Inc.
$787.29$35.06B27.9316.64%7.52%38.32%—
PWR logoPWRQuanta Services, Inc.
$674.04$101.14B99.1219.76%3.72%12.96%—
TTEK logoTTEKTetra Tech, Inc.
$31.15$8.12B33.494.69%8.96%24.36%—
MYRG logoMYRGMYR Group Inc.
$442.72$6.89B58.798.79%3.71%22.14%—

Compare TOYO vs Peers

TOYO Co., Ltd. (TOYO) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ITRN

Most directly comparable listed peer for TOYO.

Scale Benchmark

vs PWR

Larger-name benchmark to compare TOYO against a more recognizable public peer.

Peer Set

Compare Top 5

vs ITRN, EME, PWR, TTEK

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TOYO Frequently Asked Questions

TOYO Co., Ltd. (TOYO) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is TOYO Co., Ltd.'s revenue?

TOYO Co., Ltd. (TOYO) reported $301.3M in revenue for fiscal year 2025.

How fast is TOYO Co., Ltd. growing?

TOYO Co., Ltd. (TOYO) grew revenue by 141.5% over the past year. This is strong growth.

Is TOYO profitable?

Yes, TOYO Co., Ltd. (TOYO) is profitable, generating $42.4M in net income for fiscal year 2025 (9.3% net margin).

Dividend & Returns
What is TOYO's return on equity?

TOYO Co., Ltd. (TOYO) has a return on equity (ROE) of 46.5%. This is excellent, indicating efficient use of shareholder capital.

What is TOYO Co., Ltd.'s free cash flow?

TOYO Co., Ltd. (TOYO) generated $20.4M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in TOYO back in 2021?

Total return calculator · dividends reinvested · 5+ years of data

See returns →