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Toyo Valuation Multiples
Discover revenue and EBITDA valuation multiples for Toyo and similar public comparables like Cox Energy, Alfa Solar, Ecoener, BayWa and more.
Toyo Overview
About Toyo
Toyo Co Ltd along with its subsidiaries, is engaged in research and development, production, and sales of solar cells. Geographically, the company generates revenue from Asia and the USA, out of which the majority of revenue is generated from Asia.
Founded
2023
HQ
Employees
528
Website
Financials (LTM)
EV
$342M
Toyo Financials
Toyo reported last 12-month revenue of $473M and EBITDA of $95M.
In the same LTM period, Toyo generated $94M in gross profit, $95M in EBITDA, and $43M in net income.
Revenue (LTM)
Toyo P&L
In the most recent fiscal year, Toyo reported revenue of $177M and EBITDA of $32M.
Toyo expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $473M | XXX | $177M | XXX | XXX | XXX |
| Gross Profit | $94M | XXX | $22M | XXX | XXX | XXX |
| Gross Margin | 20% | XXX | 12% | XXX | XXX | XXX |
| EBITDA | $95M | XXX | $32M | XXX | XXX | XXX |
| EBITDA Margin | 20% | XXX | 18% | XXX | XXX | XXX |
| EBIT Margin | 12% | XXX | 5% | XXX | XXX | XXX |
| Net Profit | $43M | XXX | $41M | XXX | XXX | XXX |
| Net Margin | 9% | XXX | 23% | XXX | XXX | XXX |
| Net Debt | — | — | $23M | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Toyo Stock Performance
Toyo has current market cap of $297M, and enterprise value of $342M.
Market Cap Evolution
Toyo's stock price is $7.87.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $342M | $297M | 0.0% | XXX | XXX | XXX | $1.08 |
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Start Free TrialToyo Valuation Multiples
Toyo trades at 0.7x EV/Revenue multiple, and 3.6x EV/EBITDA.
EV / Revenue (LTM)
Toyo Financial Valuation Multiples
As of March 7, 2026, Toyo has market cap of $297M and EV of $342M.
Equity research analysts estimate Toyo's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Toyo has a P/E ratio of 6.9x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $297M | XXX | $297M | XXX | XXX | XXX |
| EV (current) | $342M | XXX | $342M | XXX | XXX | XXX |
| EV/Revenue | 0.7x | XXX | 1.9x | XXX | XXX | XXX |
| EV/EBITDA | 3.6x | XXX | 10.6x | XXX | XXX | XXX |
| EV/EBIT | 6.0x | XXX | 38.6x | XXX | XXX | XXX |
| EV/Gross Profit | 3.6x | XXX | 15.6x | XXX | XXX | XXX |
| P/E | 6.9x | XXX | 7.3x | XXX | XXX | XXX |
| EV/FCF | — | XXX | 138.8x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Toyo Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Toyo Margins & Growth Rates
Toyo's revenue in the last 12 month grew by 85%.
Toyo's revenue per employee in the last FY averaged $0.9M.
Toyo's rule of 40 is 105% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Toyo's rule of X is 233% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Toyo Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 85% | XXX | 125% | XXX | XXX | XXX |
| EBITDA Margin | 20% | XXX | 18% | XXX | XXX | XXX |
| EBITDA Growth | 94% | XXX | 139% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 105% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 233% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.9M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 1% | XXX | 1% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 7% | XXX | 6% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 7% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Toyo Public Comps
See public comps and valuation multiples for other Renewable Energy and Clean Technology comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Cox Energy | XXX | XXX | XXX | XXX | XXX | XXX |
| Alfa Solar | XXX | XXX | XXX | XXX | XXX | XXX |
| Ecoener | XXX | XXX | XXX | XXX | XXX | XXX |
| BayWa | XXX | XXX | XXX | XXX | XXX | XXX |
| LGI Ltd. | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Toyo M&A Activity
Toyo acquired XXX companies to date.
Last acquisition by Toyo was on XXXXXXXX, XXXXX. Toyo acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Toyo
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialToyo Investment Activity
Toyo invested in XXX companies to date.
Toyo made its latest investment on XXXXXXXX, XXXXX. Toyo invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Toyo
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Toyo
| When was Toyo founded? | Toyo was founded in 2023. |
| Where is Toyo headquartered? | Toyo is headquartered in Japan. |
| How many employees does Toyo have? | As of today, Toyo has over 528 employees. |
| Who is the CEO of Toyo? | Toyo's CEO is Junsei Ryu. |
| Is Toyo publicly listed? | Yes, Toyo is a public company listed on Nasdaq. |
| What is the stock symbol of Toyo? | Toyo trades under TOYO ticker. |
| When did Toyo go public? | Toyo went public in 2024. |
| Who are competitors of Toyo? | Toyo main competitors are Cox Energy, Alfa Solar, Ecoener, BayWa. |
| What is the current market cap of Toyo? | Toyo's current market cap is $297M. |
| What is the current revenue of Toyo? | Toyo's last 12 months revenue is $473M. |
| What is the current revenue growth of Toyo? | Toyo revenue growth (NTM/LTM) is 85%. |
| What is the current EV/Revenue multiple of Toyo? | Current revenue multiple of Toyo is 0.7x. |
| Is Toyo profitable? | Yes, Toyo is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Toyo? | Toyo's last 12 months EBITDA is $95M. |
| What is Toyo's EBITDA margin? | Toyo's last 12 months EBITDA margin is 20%. |
| What is the current EV/EBITDA multiple of Toyo? | Current EBITDA multiple of Toyo is 3.6x. |
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