We investigate the inherent stability of the coupled neutral-plasma Io torus. Under the assumptions that the neutrals arise through sputtering by corotating torus ions and that the ions move radially by centrifugally driven diffusion, we find that the equilibrium state properties of the Io torus depend on two quantities: the sputtering yield and Jupiter's ionospheric Pedersen conductance. For fixed values of these quantities, the torus equilibrium state is stable. When the torus neutral and ion densities deviate from the equilibrium state, the perturbations decay without oscillating, with a decay time near 1 day for the neutrals and near 60 days for the ions. The growths of the neutrals and ions from seed populations are computed. The torus evolves directly to its equilibrium state.