Toro Ltd (TORO) - Net Assets
Based on the latest financial reports, Toro Ltd (TORO) has net assets worth $319.57 Million USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($323.62 Million) and total liabilities ($4.05 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Toro Ltd strategic asset allocation index to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $319.57 Million |
| % of Total Assets | 98.75% |
| Annual Growth Rate | 29.15% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 46.06 |
Toro Ltd - Net Assets Trend (2021–2025)
This chart illustrates how Toro Ltd's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see Toro Ltd (TORO) total market value.
Annual Net Assets for Toro Ltd (2021–2025)
The table below shows the annual net assets of Toro Ltd from 2021 to 2025. Also explore TORO shareholders equity momentum to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $289.41 Million | -10.04% |
| 2024-12-31 | $321.71 Million | +8.56% |
| 2023-12-31 | $296.34 Million | +110.92% |
| 2022-12-31 | $140.50 Million | +35.05% |
| 2021-12-31 | $104.03 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Toro Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 10427272700.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $104.27 Million | 36.03% |
| Common Stock | $21.47K | 0.01% |
| Other Components | $185.11 Million | 63.96% |
| Total Equity | $289.41 Million | 100.00% |
Toro Ltd Competitors by Market Cap
The table below lists competitors of Toro Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Cyprium Metals Ltd
AU:CYM
|
$196.33 Million |
|
Superior Uniform Group Inc
NASDAQ:SGC
|
$196.52 Million |
|
Kencana Energi Lestari
JK:KEEN
|
$196.57 Million |
|
Sentral REIT
KLSE:5123
|
$196.60 Million |
|
Adagene Inc
NASDAQ:ADAG
|
$196.24 Million |
|
Thien Long Group Corp
VN:TLG
|
$196.21 Million |
|
Mulia Boga Raya PT
JK:KEJU
|
$196.11 Million |
|
Platinum Analytics Cayman Limited Class A Ordinary Shares
NASDAQ:PLTS
|
$196.10 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Toro Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 321,711,626 to 289,408,288, a change of -32,303,338 (-10.0%).
- Net income of 5,934,445 contributed positively to equity growth.
- Dividend payments of 1,400,000 reduced retained earnings.
- Share repurchases of 343,382 reduced equity.
- Other factors decreased equity by 36,494,401.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $5.93 Million | +2.05% |
| Dividends Paid | $1.40 Million | -0.48% |
| Share Repurchases | $343.38K | -0.12% |
| Other Changes | $-36.49 Million | -12.61% |
| Total Change | $- | -10.04% |
Book Value vs Market Value Analysis
This analysis compares Toro Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.40x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 0.58x to 0.40x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2021-12-31 | $11.00 | $6.42 | x |
| 2022-12-31 | $14.85 | $6.42 | x |
| 2023-12-31 | $16.04 | $6.42 | x |
| 2024-12-31 | $18.49 | $6.42 | x |
| 2025-12-31 | $16.18 | $6.42 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Toro Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 2.05%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 28.15%
- • Asset Turnover: 0.06x
- • Equity Multiplier: 1.14x
- Recent ROE (2.05%) is below the historical average (18.30%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2021 | -1.37% | -4.89% | 0.24x | 1.19x | $-11.83 Million |
| 2022 | 35.54% | 319.27% | 0.10x | 1.12x | $35.88 Million |
| 2023 | 47.46% | 630.53% | 0.07x | 1.04x | $111.00 Million |
| 2024 | 7.84% | 112.56% | 0.07x | 1.01x | $-6.96 Million |
| 2025 | 2.05% | 28.15% | 0.06x | 1.14x | $-23.01 Million |
Industry Comparison
This section compares Toro Ltd's net assets metrics with peer companies in the Oil & Gas Midstream industry.
Industry Context
- Industry: Oil & Gas Midstream
- Average net assets among peers: $818,501,958
- Average return on equity (ROE) among peers: 177.60%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Toro Ltd (TORO) | $319.57 Million | -1.37% | 0.01x | $196.30 Million |
| Antero Midstream Partners LP (AM) | $30.86 Million | 1435.59% | 0.55x | $10.12 Billion |
| CBL International Limited Ordinary Shares (BANL) | $25.29 Million | 4.50% | 1.11x | $12.00 Million |
| BP Prudhoe Bay Royalty Trust (BPT) | $25.01 Million | 58.25% | 0.00x | $2.99 Million |
| Brooge Holdings Ltd (BROG) | $78.49 Million | 16.31% | 4.83x | $284.93 Million |
| BW LPG Limited (BWLP) | $983.62 Million | -6.82% | 1.30x | $3.30 Billion |
| Cheniere Energy Partners LP (CQP) | $715.00 Million | 164.34% | 26.11x | $29.93 Billion |
| Cheniere Energy Partners LP (CQP) | $639.00 Million | 76.68% | 26.47x | $25.77 Billion |
| DHT Holdings Inc (DHT) | $1.13 Billion | 18.63% | 0.41x | $2.56 Billion |
| Dynagas LNG Partners LP (DLNG) | $326.49 Million | 1.11% | 2.26x | $136.80 Million |
| DT Midstream Inc (DTM) | $4.23 Billion | 7.38% | 0.97x | $12.24 Billion |
About Toro Ltd
Toro Corp., a shipping company, acquires, owns, charters, and operates oceangoing LPG carrier vessels and MR tankers worldwide. It operates through three segments, Eco Tanker, Non-Eco Tanker, and LPG Carrier segments. The company provides energy seaborne transportation services for LPG. It also operates and maintains a fleet of two LPG carrier vessels; and a fleet of two MR tankers with an aggreg… Read more