Toyo Co., Ltd key statistics and ratios

In fiscal 2025, Toyo Co., Ltd had return on equity of 46.5%, an operating margin of 13.8%, debt equal to 4.9% of equity and a current ratio of 0.58. 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.

Toyo Co., Ltd: financial ratios, annual
Fiscal year	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	26.7%	12.4%	22.5%
Operating margin	19.2%	5.0%	13.8%
Net margin	15.9%	23.0%	9.3%
Free-cash-flow margin	−203.0%	2.3%	9.6%
Return on equity	17.4%	69.9%	46.5%
Return on assets	4.2%	17.0%	11.6%
Asset turnover	0.26	0.74	1.25
Current ratio	0.49	0.44	0.58
Debt to equity	21.2%	62.7%	4.9%
Interest cover (operating income ÷ interest)	3.7x	2.7x	17.8x
Effective tax rate	—	1.9%	29.3%
Capital spending as % of revenue	182.9%	24.0%	21.5%
Free cash flow ÷ net income	<−999%	9.9%	104.0%

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

2 of 3 checks passed · December 31, 2025

What it owns · $441m

Short-term assets $172mLonger-term assets $270m

What it owes, and who funded it · $441m

Short-term liabilities $296mLonger-term liabilities $34mShareholders' equity $111m

Short-term assets cover short-term liabilities $172m of assets due within a year against $296m of liabilities due within a year.
Short-term assets cover long-term liabilities $172m short-term assets against $34m of longer-dated liabilities.
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 $59m against $3m of interest.

From Toyo Co., Ltd'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: Low.

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 Toyo Co., Ltd's SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Toyo Co., Ltd.