Security
TOYO CO LTD WTS · TOYWF
TOYWFOTCWarrantCurrentCIK 1985273Updated Oct 7, 2026
TOYWF price & chart
Loading TradingView…
OTC:TOYWF on TradingView ↗About the company
TOYO is a solar manufacturing company that is committed to becoming a vertically integrated solar manufacturer in the global market, integrating the upstream production of wafers and silicon, midstream production of solar cells, downstream production of photovoltaic modules, and potentially other stages of the solar power supply chain. TOYO is well-positioned to produce high-quality solar cells and modules at a competitive scale and cost.
In the news
TOYO Co., Ltd. Acquires Remaining 24.99% Interest in TOYO Solar LLC News provided by TOYO Co., Ltd Dec 08, 2025, 08:30 ET Share this article Share to X Share this article Share to X TOKYO , Dec. 8, 2025 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO ) (OTC: TOYWF), ("TOYO" or the "Company"), a solar s ↗
Seeking Alpha
TOYO Co., Ltd. (TOYO) Analyst/Investor Day Transcript ↗
TOYO Co., Ltd. (TOYO) Analyst/Investor Day - Slideshow ↗
TOYO's $240M in solar deal pipeline points to positive H2 EBITDA ↗
SEC disclosures
TOYO Co., Ltd files prospectus supplement (424B5) ↗
Recent filings
Financials
FY 2025 · USDSource
Source
Source
Source
Source
balance sheet · annual statements
| Line item | Q2 2025 | Q2 2024 | Q2 2023 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| AssetsUSD | 353,623,350Source | 241,444,393Source | — | 441,433,821Source | 239,799,700Source | 238,283,010Source |
| Property, Plant and Equipment, NetUSD | 169,340,273Source | 130,812,056Source | — | 220,648,149Source | 129,039,494Source | 142,781,558Source |
| Current assets: | ||||||
| Cash and Cash Equivalents, at Carrying ValueUSD | — | — | — | — | 13,654,445Source | 18,035,405Source |
| Accounts Receivable, after Allowance for Credit Loss, CurrentUSD | 12,153,726Source | — | — | 11,253,459Source | 6,913,996Source | — |
| Inventory, NetUSD | 53,547,925Source | 27,190,797Source | — | 79,986,077Source | 19,984,094Source | 39,999,992Source |
| Assets, CurrentUSD | 117,877,005Source | 96,558,418Source | — | 171,845,077Source | 55,388,829Source | 82,753,396Source |
| Operating Lease, Right-of-Use AssetUSD | 35,830,986Source | 233,357Source | — | 34,354,338Source | 36,627,800Source | 537,032Source |
| Other Assets, NoncurrentUSD | 636,494Source | — | — | 285,954Source | 192,905Source | 22,250Source |
| LIABILITIES AND EQUITY | ||||||
| LiabilitiesUSD | 283,380,559Source | 168,033,554Source | — | 330,178,437Source | 180,360,291Source | 181,385,889Source |
| Stockholders’ equity: | ||||||
| Common Stock, Value, IssuedUSD | 3,530Source | 4,100Source | — | 3,671Source | 3,359Source | 4,100Source |
| Retained Earnings (Accumulated Deficit)USD | 53,783,497Source | 29,252,764Source | — | 89,976,384Source | 50,316,486Source | 9,702,316Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | -7,169,938Source | -5,851,925Source | — | -7,504,638Source | -5,494,790Source | -2,805,195Source |
| Stockholders' Equity Attributable to ParentUSD | 67,008,617Source | 73,410,839Source | 46,654,470Source | 111,255,384Source | 59,239,960Source | 56,897,121Source |
| Additional Paid in Capital, Common StockUSD | 20,391,528Source | 50,005,900Source | — | 28,779,967Source | 14,414,905Source | 49,995,900Source |
| Liabilities and EquityUSD | 353,623,350Source | 241,444,393Source | — | 441,433,821Source | 239,799,700Source | 238,283,010Source |
| Current liabilities: | ||||||
| Liabilities, CurrentUSD | 249,258,509Source | 145,392,686Source | — | 295,704,397Source | 125,033,416Source | 169,193,637Source |
| Operating Lease, Liability, CurrentUSD | 2,445,388Source | 32,901Source | — | 2,867,727Source | 2,118,900Source | 151,260Source |
| Accounts Payable, CurrentUSD | 54,971,208Source | 25,018,771Source | — | 52,376,724Source | 17,629,696Source | 37,221,124Source |
| Operating Lease, Liability, NoncurrentUSD | 34,122,050Source | 228,240Source | — | 34,474,040Source | 34,327,142Source | 372,725Source |
| Stockholders' Equity Attributable to Noncontrolling InterestUSD | 3,234,174Source | — | — | — | 199,449Source | — |
| Additional Financial Items | ||||||
| Accounts Receivable, after Allowance for Credit LossUSD | — | — | — | — | 6,913,996Source | — |
| Long-term Debt, Current MaturitiesUSD | 13,563,238Source | — | — | 5,471,119Source | — | — |
| Long-term Debt, Excluding Current MaturitiesUSD | — | 22,412,628Source | — | — | 20,999,733Source | 11,819,527Source |
cash flow · annual statements
| Line item | Q2 2025 | Q2 2024 | Q2 2023 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | — | — | — | 37,152,532Source | 40,500,319Source | 9,889,155Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
| Depreciation, Depletion and AmortizationUSD | — | — | — | — | 23,235,143Source | 2,607,276Source |
| Share-based Payment Arrangement, Noncash ExpenseUSD | — | — | — | 9,000,737Source | 609,000Source | — |
| Changes in operating assets and liabilities: | ||||||
| Increase (Decrease) in Accounts ReceivableUSD | — | — | — | 4,583,417Source | 6,138,919Source | — |
| Increase (Decrease) in InventoriesUSD | — | — | — | 63,359,435Source | -15,882,337Source | 40,728,301Source |
| Increase (Decrease) in Accounts PayableUSD | — | — | — | — | 3,034,220Source | 2,079,725Source |
| Deferred Income Tax Expense (Benefit)USD | — | — | — | -178,107Source | — | — |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | — | — | — | 132,987,931Source | 46,506,740Source | -12,529,017Source |
| Cash flows from investing activities: | ||||||
| Net Cash Provided by (Used in) Investing ActivitiesUSD | — | — | — | -98,402,076Source | -44,044,171Source | -114,239,711Source |
| Payments to Acquire Property, Plant, and EquipmentUSD | — | — | — | 91,752,076Source | 42,501,403Source | 114,113,439Source |
| Cash flows from financing activities: | ||||||
| Net Cash Provided by (Used in) Financing ActivitiesUSD | — | — | — | 9,099,620Source | -2,089,719Source | 146,149,629Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | — | — | — | 41,710,637Source | -1,848,104Source | 16,932,045Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 36,667,811Source | 44,386,823Source | 1,045,240Source | 58,860,026Source | 17,149,389Source | 18,997,493Source |
| Supplemental disclosure of cash flow information: | ||||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | — | — | — | — | 3,316,100Source | — |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | — | — | — | -1,974,838Source | -2,220,954Source | -2,448,856Source |
| Additional Financial Items | ||||||
| Amortization of Debt Issuance CostsUSD | — | — | — | 165,169Source | — | — |
| Amortization of Intangible AssetsUSD | — | — | — | — | 289,198Source | 114,614Source |
| DepreciationUSD | — | — | — | 36,551,190Source | 23,235,143Source | 2,607,276Source |
| Gain (Loss) on Disposition of Property Plant EquipmentUSD | — | — | — | — | — | -13,511Source |
| Gain (Loss) on Termination of LeaseUSD | — | — | — | — | -29,186Source | — |
| General and Administrative ExpenseUSD | — | — | — | 31,376,223Source | 11,412,152Source | 4,632,009Source |
| Income Tax Expense (Benefit)USD | — | — | — | 15,370,241Source | 781,238Source | — |
| InterestExpenseNonoperatingUSD | — | — | — | 3,318,705Source | 3,264,646Source | 3,261,459Source |
| Inventory Write-downUSD | — | — | — | 2,862,847Source | 2,536,668Source | — |
| Net Income (Loss) Attributable to ParentUSD | — | — | — | 39,659,898Source | 40,614,170Source | 9,889,155Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | — | — | — | -2,507,366Source | -113,851Source | — |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | — | — | — | 34,232,047Source | 33,527,405Source | 9,889,155Source |
| Nonoperating Income (Expense)USD | — | — | — | -6,514,575Source | 32,421,521Source | -2,097,793Source |
| Operating ExpensesUSD | — | — | — | 37,300,093Source | 13,037,876Source | 4,649,582Source |
| Operating Lease, ExpenseUSD | — | — | — | 5,164,404Source | 838,022Source | 357,300Source |
| Other Nonoperating Income (Expense)USD | — | — | — | -1,854,076Source | 586,167Source | 1,163,666Source |
| Proceeds from Contributed CapitalUSD | — | — | — | 4,000,000Source | 10,000Source | 42,360,581Source |
| Revenue from Contract with Customer, Including Assessed TaxUSD | — | — | — | 427,383,003Source | 182,601,289Source | 152,542,661Source |
| Share-based Payment Arrangement, Expense | — | —Source | — | — | — | — |
income statement · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|
| Total RevenueUSD | 427,383,003Source | 176,957,128Source | 62,377,390Source |
| Cost of Goods and Services Sold | —Source | —Source | —Source |
| Operating Income (Loss)USD | 59,037,348Source | 8,860,036Source | 11,986,948Source |
| Other Nonoperating Income (Expense)USD | -1,854,076Source | 586,167Source | 1,163,666Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | 52,522,773Source | 41,281,557Source | 9,889,155Source |
| Income Tax Expense (Benefit)USD | 15,370,241Source | 781,238Source | — |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | -2,507,366Source | -113,851Source | — |
| Net Income (Loss) Attributable to ParentUSD | 39,659,898Source | 40,614,170Source | 9,889,155Source |
| Earnings Per Share, BasicUSD per share | 1.14Source | 1.09Source | 0.24Source |
| Earnings Per Share, DilutedUSD per share | 1.13Source | 1.09Source | 0.24Source |
| Weighted Average Number of Shares Outstanding, Basicshares | 30,099,569Source | 30,751,424Source | 41,000,000Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 30,333,876Source | 30,751,424Source | 41,000,000Source |
| Interest Expense (non-operating)USD | 3,318,705Source | 3,264,646Source | 3,261,459Source |
| Additional Financial Items | |||
| Amortization of Intangible AssetsUSD | — | 289,198Source | 114,614Source |
| Current Income Tax Expense (Benefit)USD | 15,548,348Source | 781,238Source | — |
| General and Administrative ExpenseUSD | 31,376,223Source | 11,412,152Source | 4,632,009Source |
| Gross ProfitUSD | 96,337,441Source | 21,897,912Source | 16,636,530Source |
| Interest Expense, DebtUSD | 737,811Source | — | — |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | 34,232,047Source | 33,527,405Source | 9,889,155Source |
| Nonoperating Income (Expense)USD | -6,514,575Source | 32,421,521Source | -2,097,793Source |
| Operating ExpensesUSD | 37,300,093Source | 13,037,876Source | 4,649,582Source |
| Operating Lease, ExpenseUSD | 5,164,404Source | 838,022Source | 357,300Source |
| Revenue from Contract with Customer, Including Assessed TaxUSD | 427,383,003Source | 182,601,289Source | 152,542,661Source |
| Selling and Marketing ExpenseUSD | 5,923,870Source | 1,625,724Source | 17,573Source |
Offerings
Registration 333-283617
Registration 333-296846
Filing attachments
ea030780301ex99-1.htm · 6-K · 2026-10-06
Exhibit 99.1 NASDAQ: TOYO | OTC: TOYWF TOYO SOLAR Analyst Day & Facility Ribbon-Cutting Scaling an integrated, non-FEOC solar manufacturing platform across global cells and U.S. modules. $261.0M H1 REVENUE 2.6 GW CELL DELIVERIES 32.5% GROSS MARGIN $123.4M CASH + RESTRICTED HUMBLE, TEXAS · OCTOBER 6, 2026 TOYO SOLAR 1 SECTION 1 Welcome & Safe Harbor Program overview and forward-looking statements 2 Forward-Looking Statements This presentation includes "forward-looking statements" within the me…
Read attachment ↗ea030680401ex99-1.htm · 6-K · 2026-09-28
Exhibit 99.1 TOYO Co., Ltd. Provides Second Half 2026 Business Outlook TOKYO, Japan, September 28, 2026 - TOYO Co., Ltd. (Nasdaq: TOYO) (OTC: TOYWF) (“TOYO” or the “Company”), a solar manufacturing company, today provided its business outlook for the second half of 2026. The Company continues to operate in a dynamic U.S. trade and regulatory environment, including the pending U.S. Customs and Border Protection (“CBP”) examination of shipments of solar cells, countervailing duty (“CVD”) invest…
Read attachment ↗ea030680401ex99-2.htm · 6-K · 2026-09-28
Exhibit 99.2 TOYO Announces Approximately $240 Million in Binding U.S. Solar Module Supply Agreements Through First Half of 2027 TOKYO, Japan, September 28, 2026 - TOYO Co., Ltd. (Nasdaq: TOYO) (OTC: TOYWF) (“TOYO” or the “Company”), a solar manufacturing company, today announced that, since mid-June 2026, it has entered into multiple binding solar photovoltaic module supply agreements with an aggregate contract value of approximately $240 million. The agreements are with multiple customers a…
Read attachment ↗ea030344001ex99-1.htm · 6-K · 2026-09-03
Exhibit 99.1 Amendment to Trademark License Agreement This Amendment to Trademark License Agreement (the “ Amendment ”), dated as of the date of the last signature below but effective as of September 12, 2026 (the “ Amendment Effective Date ”), is by and between Vietnam Sunergy Joint Stock Company, a Vietnamese company (“ Licensee ”) and Toyo Solar Company Limited, a Vietnamese company (“ Licensor ”) (collectively, the “ Parties,” or each, individually, a “ Party ”). All capitalized terms not …
Read attachment ↗ea030344001ex99-2.htm · 6-K · 2026-09-03
Exhibit 99.2 Amendment to Trademark License Agreement This Amendment to Trademark License Agreement (the “ Amendment ”), dated as of the date of the last signature below but effective as of September 12, 2026 (the “ Amendment Effective Date ”), is by and between Vietnam Sunergy Joint Stock Company, a Vietnamese company (“ Licensee ”) and TOYO Co., Ltd, a Cayman Islands company (“ Licensor ”) (collectively, the “ Parties,” or each, individually, a “ Party ”). All capitalized terms not defined h…
Read attachment ↗ea030222201ex99-1.htm · 6-K · 2026-08-19
Exhibit 99.1 TOYO Co., Ltd UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Currency expressed in United States Dollars (“US$”), except for number of shares) June 30, December 31, …
Read attachment ↗