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No institutional (13F) filings cover this company, so the Overview and 13F tabs are thin. Everything drawn from its SEC filings is here.
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What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 5 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: 4%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 5 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
EOD close · as of 2026-10-21
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $21.1M 100.0% | $22.4M 100.0% | $22.3M 100.0% | $15.6M 100.0% | $29.3M 100.0% |
| Selling, General & Admin | $8.6M 40.8% | $10.2M 45.5% | $5.4M 24.0% | $2.1M 13.4% | $889K 3.0% |
| Total Operating Expenses | $25.7M 122.1% | $28.0M 124.8% | $14.1M 63.2% | $8.7M 55.7% | $30.0M 102.5% |
| Operating Income | -$4.6M -22.1% | -$5.6M -24.8% | $8.2M 36.8% | $6.9M 44.3% | -$734K -2.5% |
| Interest Expense | $68K 0.3% | $231K 1.0% | $964K 4.3% | $903K 5.8% | $506K 1.7% |
| Interest & Investment Income | $2.8M 13.3% | $8.4M 37.3% | $2.1M 9.2% | $5K 0.0% | $652 0.0% |
| Other Income (Expense), net | $10.3M 48.7% | $11.1M 49.4% | $3.0M 13.6% | -$11K -0.1% | -$490K -1.7% |
| Pretax Income | $5.6M 26.6% | $5.5M 24.6% | $11.2M 50.3% | $6.9M 44.3% | -$1.2M -4.2% |
| Income Tax Expense | $0 0.0% | $0 0.0% | $47K 0.2% | $0 0.0% | $206K 0.7% |
| Net Income | $5.9M 28.1% | $25.2M 112.6% | $140.6M 630.5% | $49.9M 319.3% | -$1.4M -4.9% |
| Per Share | |||||
| EPS (Basic) | $0.08 | $1.09 | $8.69 | $5.28 | -$0.15 |
| EPS (Diluted) | $0.08 | $1.09 | $2.87 | $1.17 | -$0.15 |
| Weighted Avg Shares (Basic) | 17.9M | 17.4M | 15.4M | 9.5M | 9.5M |
| Weighted Avg Shares (Diluted) | 17.9M | 17.4M | 48.7M | 42.7M | 9.5M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Solve the discounted cash flow backwards, then stress-test the assumptions.
This company doesn't have positive free cash flow on any basis, so a reverse DCF can't be run.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $41.8M covers all $13.3M of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2022-12-31 (20-F).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest.
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
EOD close · as of 2026-10-21
Where each multiple sits in its own 3-yr range · 100th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 3-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 4% against ROIC 4% — 0% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 2.8× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| SG&A | 3.0 | 13.4 | 24.0 | 45.5 | 40.8 |
| Operating Income | -2.5 | 44.3 | 36.8 | -24.8 | -22.1 |
| Income Tax | 0.7 | 0.0 | 0.2 | 0.0 | 0.0 |
| Net Income | -4.9 | 319.3 | 630.5 | 112.6 | 28.1 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on TORO: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Cash conversion and accruals. The full answer — share-based compensation, the cash conversion waterfall, working-capital trend — is still being built, so this block states what it measures rather than issuing a verdict.
One year is not a trend. The spec asks for a 3- and 5-year average of FCF/net income precisely because a single year turns on working-capital timing, and that arrives with the full Q2 block.