Toro Corp
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Toro Corp AI Insights
Informational only. Not investment advice.Snapshot
- FCF TTM of -78.5M driven by 66.7M capex (3.3x revenue) signals aggressive fleet/asset expansion phase with cash burn risk[Free Cash Flow TTM]
- P/S ratio of 16.8x vs industry median 0.9x - trading at 18.6x industry valuation despite -44% 3Y revenue decline[Price to Sales Ratio]
- Zero debt with 25.1M cash and 28.6M working capital provides runway, but -11.8M operating cash flow TTM depleting reserves[Debt to Equity]
Watch Triggers
- Total Revenue TTM: Quarterly revenue growth turns positive — Revenue decline must reverse to justify 66.7M capex investment and current valuation
- Asset Turnover TTM: Rises above 0.15 (currently 0.06) — At 0.06x, assets generating minimal revenue; improvement signals utilization turnaround
- Cash and Equivalents: Falls below 15M — At -11.8M operating cash flow, 25.1M cash provides ~2 years runway before dilution risk
Bull Case
Zero-debt balance sheet with 199.4M tangible book (P/B 1.7x) provides downside protection; 97.4M PPE is real asset value
Net margin 26% vs industry -5% median shows pricing power exists once scale achieved; EBITDA positive at 10.6M TTM
Bear Case
Revenue collapsed -44% over 3Y while capex surged - asset utilization crisis with no visibility on demand recovery
P/S of 16.8x (18.6x industry median) prices in turnaround that hasn't materialized; FCF burn of -78.5M unsustainable
Bull vs Bear Balance
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Forward Thesis
Heavy capex cycle (66.7M TTM) building asset base for revenue inflection, but execution risk high
- PPE of 97.4M now 29% of total assets
- Revenue declined -44% over 3Y despite asset growth
- Operating margin -27% indicates scale not yet achieved
Valuation Context
Caveats
TORO Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$122.45M | — | ||
$40.81M | — | ||
157 | — | ||
$21.51M | -0.0% | — | |
$0.03 | — | ||
-21.1% | +11.2% | — | |
22.7% | +1.0% | — | |
$-74.69M | — | ||
2.48% | +0.1% | — | |
Beta 5Y (Monthly) | unknown | — |
TORO Dividend History
2026
$2.6500TORO Stock Splits
TORO SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
05/28/26 | 03/31/26 | 6-K | |
04/15/26 | 12/31/25 | 20-F | |
12/05/25 | 09/30/25 | 6-K | |
10/01/25 | 06/30/25 | 6-K | |
07/17/25 | 03/31/25 | 6-K | |
04/15/25 | 12/31/24 | Unknown | |
11/12/24 | 09/30/24 | 6-K | |
08/12/24 | 06/30/24 | 6-K | |
10/01/25 | 06/30/24 | 6-K | |
05/10/24 | 03/31/24 | 6-K | |
03/12/24 | 12/31/23 | 20-F | |
11/09/23 | 09/30/23 | 6-K | |
08/09/23 | 06/30/23 | 6-K | |
05/23/23 | 03/31/23 | 6-K | |
05/10/24 | 03/31/23 | 6-K | |
03/08/23 | 12/31/22 | 20-F | |
02/02/23 | 09/30/22 | 20FR12B/A | |
08/09/23 | 06/30/22 | 6-K | |
05/23/23 | 03/31/22 | 6-K | |
02/02/23 | 12/31/21 | 20FR12B/A |