Toro Corp. key statistics and ratios

In fiscal 2025, Toro Corp. had return on equity of 3.3%, an operating margin of -22.1%, debt equal to 0.0% of equity and a current ratio of 2.30. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Toro Corp.: financial ratios, annual
Fiscal year	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Operating margin	−2.5%	44.3%	36.8%	−24.8%	−22.1%
Net margin	−4.9%	319.3%	630.5%	112.6%	28.1%
Free-cash-flow margin	−395.4%	263.7%	−72.1%	47.6%	−346.8%
Return on equity	−1.4%	40.8%	88.7%	13.4%	3.3%
Return on assets	−1.2%	35.5%	60.4%	7.9%	1.8%
Asset turnover	0.24	0.11	0.10	0.07	0.06
Current ratio	1.82	8.40	21.01	11.77	2.30
Debt to equity	15.7%	9.4%	3.0%	—	0.0%
Interest cover (operating income ÷ interest)	n/m	7.7x	8.5x	n/m	n/m
Effective tax rate	—	0.0%	0.4%	0.0%	0.0%
Capital spending as % of revenue	380.3%	1.9%	323.8%	0.5%	316.7%
Free cash flow ÷ net income	—	82.6%	−11.4%	42.3%	<−999%
Dividends and buybacks ÷ free cash flow	—	0.0%	—	35.0%	—

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

1 of 2 checks passed · December 31, 2025

What it owns · $331m

Short-term assets $96mLonger-term assets $235m

What it owes, and who funded it · $206m

Short-term liabilities $42mShareholders' equity $164m

Short-term assets cover short-term liabilities $96m of assets due within a year against $42m of liabilities due within a year.
Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
More cash than debt Cash or debt not separately reported. Not assessable.
Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
Operating profit covers interest at least five times over Operating income of −$5m against $68,116 of interest.

From Toro Corp.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Toro Corp.'s SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Toro Corp.