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Toro Ltd (TORO) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Toro Ltd $5.84, price $5.74, upside +1.7%, quality 37 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
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Energy · US · ISIN MHY8900D1085

TL Toro Ltd logo Thin data Sep 23, 2026

Toro Ltd

TORO · US

Low PriorityFair Value upside is limited and quality is weak.

·Fair value $5.84 · Fairly valued (+2%)
!Quality 37/100
!Expensive Growth (revenue 3y +10.5 %/yr)
✓Highly profitable · 22.7% net margin (TTM)
!Low debt · negative free cash flow
!Trails peers (3/10)
!Narrow moat 33/100
!Evidence only low, so the estimate is less certain
!Weak on past: 6 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$7.88 $0.8818 Fair Value $5.84 Mar 2023 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

43‑month range $0.8818 – $7.88 · fair‑value band $5.22 – $7.10 · the $5.74 price screens below the $5.84 fair value. Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

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.

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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 aggregate cargo carrying capacity of 0.1 million deadweight tonnage. The company was formerly known as Tankco Shipping Inc. and changed its name to Toro Corp. in September 2022. Toro Corp. was founded in 2022 and is based in Limassol, Cyprus. Toro Corp. is a subsidiary of Castor Maritime Inc.

Stock analysis

Toro Ltd (TORO) currently trades at $5.74, while our model-based Fair Value estimate is $5.84, implying the stock looks roughly 1.7% fairly valued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of $5.61 per share, and 0 of the 8 models we run sit above the $5.74 price.

Bear case: the Earnings-Based group reads lowest at $1.43, and 8 of the 8 models stay below the price. Evidence for this calculation is low.

Scenario range: $5.22 (bear) to $7.10 (bull), the price of $5.74 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 37/100 (below-average quality), in the Energy sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Toro Ltd reported revenue of $21.1M in FY2025 versus $29.3M in FY2021, a compound −7.9%/yr. Reported net income was $5.9M in FY2025.

Key figures

Market cap $207M · P/E ratio 287.0 · P/S ratio 80.8 · EPS (TTM) $0.0200 · Net margin 28.1% · Return on equity 1.5% · Return on assets (EBIT) 0.1% · Operating margin −24.8%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).

What moves the price

The share trades about 15% below its 52-week high and 218% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Energy peers we cover trades at −11% fair-value upside, at 2%, TORO screens cheaper than that median.

Fair Value models

Bear $5.22 Fair Value $5.84 Bull $7.10
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($0.0147 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Residual Income $5.29 $4.82 $3.28 73
EV/EBITDA $2.50 $2.52 $2.55 67
Graham-Dodd $1.17 $1.43 $1.61 65
All 8 models by family
Earnings-Based
Graham-Dodd $1.17 $1.43 $1.61 65
Multiples
P/E Multiple $2.70 $3.61 $4.51 63
P/S Multiple $0.9200 $1.22 $1.53 58
P/B Multiple $2.19 $2.92 $3.65 55
EV/EBITDA $2.50 $2.52 $2.55 67
Asset-Based
NCAV (Graham) $4.19 $5.61 $8.37 54
Economic Profit
Residual Income $5.29 $4.82 $3.28 73
Growth Earnings
Growth-Adj P/E $1.91 $2.73 $3.55 65

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Quality Score breakdown

Overall quality 37/100

Of which business quality 41 · Market factors (momentum, volatility) 63

Profitability 30
Margins and returns on capital today
Quality Growth 31
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 97
Balance sheet, leverage, solvency risk
Investment 0
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 89
Price trend over the last 3–12 months (market factor)
52W Momentum 90
Distance to the 52-week high (market factor)
Net Issuance 74
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 43/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−5.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.5%
What shareholders gained per year (last 3 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−62.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−62.8%
Dividend (yield on the price)0.0%
Profit margin 2021 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−3% → −22%

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Oil & Gas Midstream · 85 stocks

Beats the industry median on 3/10 measures
Overall it trails its industry peers.
Valuation
Quality Score 37 · Bottom 25%
Fair Value upside +2% · Above median
Profitability
Return on equity (TTM) 1% · Bottom 25%
Return on assets −1% · Bottom 25%
Net margin (TTM) 23% · Above median
Operating margin (TTM) −25% · Bottom 25%
Growth and dividend
Revenue growth 8% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%
Balance sheet
Debt / equity 0.01× · Lowest 25%

Valuation Multiplesvs Oil & Gas Midstream median · lower = cheaper

P/E (TTM) 287.0× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)36 · sector 25
FUTURE (revenue growth)39 · sector 60
PAST (return on equity)6 · sector 45
HEALTH (low debt)99 · sector 52
DIVIDEND (yield)0 · sector 81

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

Similar stocks

10 more Oil & Gas Midstream stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Enbridge Inc ENB $47.85 $36.91 −23%
The Williams Companies, Inc WMB $71.11 $11.73 −84%
Enterprise Products Partners L.P. EPD $37.57 $24.61 −34%
Kinder Morgan, Inc KMI $31.37 $28.24 −10%
TC Energy Corporation TRP $59.78 $24.51 −59%
Energy Transfer LP, ET $20.49 $19.43 −5%
MPLX LP owns and MPLX $58.81 $70.84 +20%
ONEOK, Inc OKE $90.54 $80.35 −11%
Targa Resources Corp TRGP $282.15 $79.61 −72%
Cheniere Energy, Inc LNG $273.61 $349.73 +28%

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Toro Ltd · Fair Value
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Cite: Fair Value Calculator (2026). "Toro Ltd Fair Value". https://www.fairvalue-calculator.com/stock/TORO

Frequently asked questions

Is Toro Ltd (TORO) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $5.84 versus a price of $5.74, about +2% upside (fairly valued).
What is the fair value of TORO?
Our model-based fair value for Toro Ltd is $5.84 (as of Sep 23, 2026), built from audited fundamentals. The current price: $5.74.
What is the quality score of TORO?
Toro Ltd has a Quality Score of 37/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Toro Ltd (TORO)?
Our model-based price target is the fair value of $5.84 (as of Sep 23, 2026) from 8 valuation models. Cautious scenario $5.22, optimistic scenario $7.10. It is a calculation from audited fundamentals, not an analyst target.
What is the Toro Ltd stock forecast for 2026?
Our models put fair value at $5.84, about +2% upside versus a price of $5.74 (fairly valued). Cautious scenario $5.22, optimistic scenario $7.10. The calculation is refreshed regularly with new filings.
What is the revenue of Toro Ltd (TORO)?
Toro Ltd reported trailing-twelve-month revenue of about $21.5M (latest available figure, as of Sep 23, 2026).
What is the intrinsic value of Toro Ltd (TORO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Toro Ltd it is $5.84 per share (as of Sep 23, 2026), against a price of $5.74. It is the blended result of 8 valuation models (cash flow, earnings, asset, dividend).
Is Toro Ltd stock overvalued or undervalued in 2026?
As of Sep 23, 2026, TORO trades below its calculated fair value: price $5.74, fair value $5.84, a gap of about +2% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TORO?
No. The price is what the market pays today ($5.74); the fair value is what the company's own numbers justify ($5.84). For Toro Ltd the two are $0.1000 per share apart. That gap is exactly why we show both numbers side by side.
How much is Toro Ltd worth?
The market values Toro Ltd at about $207M (market capitalisation, as of Sep 23, 2026). Per share that is $5.74; our models calculate a fair value of $5.84 per share.
What do the bullish and bearish scenarios say about TORO?
Our models span a range for Toro Ltd: cautious scenario $5.22, base $5.84, optimistic $7.10 per share (as of Sep 23, 2026, price $5.74). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TORO?
Toro Ltd trades at a price-to-earnings ratio of 287.0 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $5.84 is built from several models across several years.
How solid is the balance sheet of Toro Ltd (TORO)?
Balance-sheet figures for Toro Ltd (as of Sep 23, 2026): return on equity 1.5%, debt of 0.01 per unit of equity. They feed the Quality Score of 37/100, which measures business quality independently of the share price.
How far is TORO from its 52-week high?
Toro Ltd trades at $5.74, about 15% below its 52-week high of $6.78 and 218% above the low of $1.81 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $5.84 is for.
Which stocks are comparable to Toro Ltd?
From the same area (Energy) we also value Enbridge Inc, The Williams Companies, Inc, Enterprise Products Partners L.P., Kinder Morgan, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Toro Ltd stock attractive at the current price?
The data as of Sep 23, 2026: price $5.74, calculated fair value $5.84 (+2%), Quality Score 37/100, from 8 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of TORO calculated?
We run Toro Ltd through 8 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $5.84, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0 % above its aggregate fair value. Toro Ltd currently trades 2 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Toro Ltd (TORO)?
The closing price on Sep 23, 2026 was $5.74. Our model-based fair value is $5.84, about +2% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Toro Ltd right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Toro Ltd

How large is the market capitalisation of Toro Ltd (TORO)?
The market capitalisation of Toro Ltd is $207M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Toro Ltd (TORO)?
The price-to-sales ratio of Toro Ltd is 80.8 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Toro Ltd (TORO)?
Earnings per share at Toro Ltd are $0.0200 (price ÷ EPS = P/E 287.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Toro Ltd (TORO)?
The net margin of Toro Ltd is 28.1% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Toro Ltd (TORO)?
The return on equity (ROE) of Toro Ltd is 1.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Toro Ltd (TORO)?
On an EBIT basis the return on assets of Toro Ltd is 0.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Toro Ltd (TORO)?
The operating margin of Toro Ltd is −24.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Toro Ltd (TORO)?
Revenue at Toro Ltd is growing +7.7% versus a year earlier (3y avg +10.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Toro Ltd (TORO)?
Earnings per share at Toro Ltd are growing −96.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Toro Ltd (TORO) generate?
The free cash flow of Toro Ltd is −$73.0M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Toro Ltd (TORO) hold?
Toro Ltd holds more cash than debt, $87.4M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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