Meridian™
Universe

TOYO · CIK 0001985273 · FY2025 live · 2025-12-31

TOYO Co., Ltd

DistressSEC 10-KClassic ZTechnology47th percentile in Technology · 226 names

View as

Model

Classic Z

FY2025

1.56

Zone

Distress

Prior

—

Market DD

—

1y PD

—

1.56

Z″ 0.08

−21.83.08+

Score 1.56 · distress below 1.80, grey to 2.99, safe at 3.00 and above.

Classic Z factor contributions

  • X1 Working capital / assets

    Short-term liquidity versus the size of the balance sheet.

    −0.28
    1.2 × = −0.34

  • X2 Retained earnings / assets

    Cushion from years of profits. Share buybacks can push this negative at otherwise healthy firms.

    0.20
    1.4 × = 0.29

  • X3 EBIT / assets

    Operating return on assets. Highest weight in the original model.

    0.13
    3.3 × = 0.44

  • X4 Book equity / liabilities

    Book equity versus the liability stack. Mega-caps often look greyer here than they would if X4 used market cap.

    0.34
    0.6 × = 0.20

  • X5 Sales / assets

    Asset turnover — how much revenue the asset base supports.

    0.97
    1 × = 0.97

Five-year path

Need two annual 10-Ks to draw a path. The desk will pull this issuer’s filings rather than invent a series.

Overview

rule-v1

TOYO Co., Ltd is on classic Z at 1.56 (distress) for FY2025, from an SEC 10-K. Sales / assets is the line that sets the print. This is the first live year on the desk. No market tape loaded. Classic Z was fit on manufacturers; buybacks can send retained earnings negative at otherwise healthy issuers, and X4 is book equity, not market cap.

Book screen Distress; market PD —. Tape not priced — not a single default call.

Market DD · naive Merton

No market tape yet.

Pull a year of closes (Yahoo, Nasdaq if Yahoo is limited) and size equity from Nasdaq cap or EDGAR shares. Distance-to-default and 1-year PD stay blank until then.

Sector peers

Closest Classic Z scores · 47th percentile in Technology.

KPI widgets

Current assets

$172M

Total assets

$441M

Current liabilities

$296M

Total liabilities

$330M

Working capital

−$124M

Retained earnings

$90M

EBIT

$59M

Total sales

$427M

Book equity

$111M

Accession 0001213900-26-037921. Live rank is the latest 10-K on EDGAR (FY2025, period 2025-12-31). Classic Z is the live score. View as does not rewrite the live rank. X4 is book equity. Pulled 12 Sept 2026.