TOYO
Builds solar cells and photovoltaic modules across a geographically distributed supply chain.
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Profile
Manufactures solar cells and photovoltaic modules while pursuing an integrated supply chain from silicon wafers to modules. Cell production is in Vietnam and Ethiopia, with module manufacturing in the United States.
Manufactures solar cells and photovoltaic modules for the global market while pursuing a supply chain that spans silicon wafers, cells, and modules across successive production stages.
Commercial cell operations are in Vietnam and Ethiopia, while a U.S. operation manufactures modules. This footprint connects separate manufacturing stages across regions. Its stated operating approach combines engineering, research and development, sales, and manufacturing to support rapid improvement and quality.
A further U.S. cell facility has been announced as a planned project. Execution depends on permitting, regulatory compliance, financing, and delivery of the project plan.
Company facts
Categories
Key statistics
Year to date −24.3% · Average volume (30d) 896.9K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 19, 2026Q2 FY26 | $0.52 | $0.45 | −13.5% | $192.6M | $118.2M | −38.6% | −24.13% |
| May 18, 2026Q1 FY26 | $0.72 | $0.75 | +4.2% | $202.9M | $142.8M | −29.6% | −6.62% |
| Sep 12, 2025Q2 FY25 | — | $0.05 | — | — | $69.6M | — | +0.51% |
| May 20, 2025Q1 FY25 | — | $0.05 | — | — | $69.6M | — | +0.87% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $69.6M | $69.6M | $144.1M | $144.1M | $142.8M | $118.2M | |
| Gross profit | $11.5M | $11.5M | $36.6M | $36.6M | $47.8M | $37.0M | |
| Operating income | $4.8M | $4.8M | $24.7M | $24.7M | $36.3M | $22.6M | |
| Net income | $1.7M | $1.7M | $18.1M | $18.1M | $28.4M | $17.4M | |
| Diluted EPS | $0.05 | $0.05 | $0.58 | $0.58 | $0.75 | $0.45 | |
| Gross margin | 16.6% | 16.6% | 25.4% | 25.4% | 33.5% | 31.3% | |
| Operating margin | 7.0% | 7.0% | 17.1% | 17.1% | 25.4% | 19.1% |
Fiscal years (4-quarter sums)FY22 $0 · FY23 $62.4M · FY24 $177.0M · FY25 $427.4M
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $110.0M · Total debt $63.2M · Total assets $537.6M · Shareholders' equity $209.8M
Dividends
No dividends on record.
Ownership
Shares outstanding 42.72M · Float 4.22M · 9.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Junsei Ryu | 38.70M | 83.10% | 13G | Nov 14, 2024 |
| BestToYo Technology Company Limited | 10.37M | 27.50% | 13G | Nov 14, 2025 |
| Highbridge Capital Management, LLC | 3.69M | 8.10% | 13G | Aug 14, 2026 |
| N.A.Global. Co. Ltd. | 3.27M | 9.26% | 13G | Jun 27, 2025 |
| Yasunai Harada · director, officer: Chief Financial Officer | 1.06M | 2.48% | Form 4 | Jul 17, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Canadian Solar
Texas modules and Indiana HJT cells in the U.S. solar supply chain
- First Solar
U.S. thin-film PV modules for utility-scale power generation
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| TOYO | $4.50 | −0.23% | $192.7M | 1.9 | 1.8 | 0.4 | +69.9% |
| Canadian Solar | $13.10 | −0.19% | $892.2M | — | — | 0.2 | −28.7% |
| First Solar | $205.40 | +0.47% | $21.97B | 12.6 | 9.7 | 4.1 | −3.7% |
| Median | 12.6 | 9.7 | 2.1 | −16.2% |