TORO CO TTC
We design, manufacture, market and sell professional turf maintenance equipment and services; turf irrigation systems; landscaping equipment and lighting products; snow and ice management products; agricultural irrigation ("ag-irrigation") systems; rental, specialty and underground construction equipment; and residential yard and snow thrower products. Our purpose is to help our customers enrich the beauty, productivity, and sustainability of the land. Our products are marketed and sold worldwide through a network of distributors, dealers, mass retailers, hardware retailers, equipment rental centers, and home centers, as well as online and direct to end-users under the primary trademarks of Toro®, Ditch Witch®, eXmark®, Spartan®, BOSS®, Ventrac®, American Augers®, Subsite®, HammerHead®, Radius®, Perrot®, Hayter®, Unique Lighting Systems®, Irritrol®, and Lawn-Boy®, most of which are registered in the United States ("U.S.") and/or in the primary countries outside the U.S. where we market our products branded under such trademarks.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.51B | $4.58B | $4.55B | $4.51B | $3.96B | $3.38B | $3.14B | $2.62B | $2.51B | $2.39B |
| Cost of revenue | $3.01B | $3.03B | $2.98B | $3.01B | $2.62B | $2.19B | $2.09B | $1.68B | $1.58B | $1.52B |
| Gross profit | $1.50B | $1.55B | $1.58B | $1.50B | $1.34B | $1.19B | $1.05B | $941.0M | $920.8M | $874.6M |
| R&D | $162.3M | $173.1M | $173.9M | $155.6M | $141.0M | $124.1M | $109.1M | $83.5M | $80.4M | $77.4M |
| SG&A | $1.01B | $1.02B | $995.6M | $928.9M | $820.2M | $763.4M | $722.9M | $567.9M | $565.7M | $540.2M |
| Operating income | $409.9M | $533.3M | $430.7M | $575.7M | $518.3M | $426.4M | $325.0M | $373.1M | $355.1M | $334.4M |
| Interest expense | $59.1M | $61.9M | $58.7M | $35.7M | $28.7M | $33.2M | $28.8M | $19.1M | $19.1M | $19.3M |
| Pre-tax income | $377.6M | $512.8M | $400.5M | $552.5M | $499.8M | $407.1M | $322.1M | $372.4M | $353.2M | $330.5M |
| Income tax | $61.5M | $93.9M | $70.8M | $109.2M | $89.9M | $77.4M | $48.1M | $100.5M | $85.5M | $99.5M |
| Net income | $316.1M | $418.9M | $329.7M | $443.3M | $409.9M | $329.7M | $274.0M | $271.9M | — | — |
| EPS, basic | 3.18 | 4.04 | 3.16 | 4.23 | 3.82 | 3.06 | 2.57 | 2.56 | 2.47 | 2.10 |
| EPS, diluted | 3.17 | 4.01 | 3.13 | 4.20 | 3.78 | 3.03 | 2.53 | 2.50 | 2.41 | 2.06 |
| Shares, diluted (wtd. avg.) | $99.8M | $104.4M | $105.3M | $105.6M | $108.5M | $108.7M | $108.1M | $108.7M | $111.3M | $112.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $341.0M | $199.5M | $193.1M | $188.2M | $405.6M | $479.9M | $151.8M | $289.1M | $310.3M | $273.6M |
| Receivables | $378.2M | $459.7M | $407.4M | $332.7M | $252.8M | $223.1M | $220.5M | $185.1M | $176.0M | $157.9M |
| Inventory | $920.8M | $1.04B | $1.09B | $1.05B | $738.2M | $652.4M | $651.7M | $358.3M | $329.0M | $307.0M |
| Total current assets | $1.71B | $1.76B | $1.80B | $1.68B | $1.49B | $1.43B | $1.12B | $894.6M | $859.9M | $779.0M |
| Property, plant and equipment | $615.8M | $644.8M | $641.7M | $571.7M | $487.7M | $467.9M | $437.3M | $271.5M | $235.2M | $222.0M |
| Goodwill | $450.9M | $450.3M | $450.8M | $583.3M | $421.7M | $424.1M | $362.3M | $225.3M | $205.0M | $194.8M |
| Other intangibles | $390.3M | $498.7M | $540.1M | $585.8M | $420.0M | $408.3M | $352.4M | $105.6M | $103.7M | $108.1M |
| Total assets | $3.44B | $3.58B | $3.64B | $3.56B | $2.94B | $2.85B | $2.33B | $1.57B | $1.49B | $1.38B |
| Accounts payable | $367.6M | $452.7M | $430.0M | $578.7M | $503.1M | $364.0M | $319.2M | $256.6M | $211.8M | $174.7M |
| Short-term debt | $0 | $10.0M | $0 | $0 | $0 | $99.9M | $79.9M | $0 | $26.3M | $22.5M |
| Total current liabilities | $912.4M | $976.0M | $948.6M | $1.06B | $937.0M | $855.8M | $757.0M | $532.6M | $521.8M | $463.8M |
| Long-term debt | $921.5M | $911.8M | $1.03B | $990.8M | $691.2M | $691.2M | $620.9M | $312.5M | $305.6M | $328.5M |
| Retained earnings | $1.39B | $1.50B | $1.44B | $1.28B | $1.07B | $1.04B | $784.9M | $587.3M | $534.3M | $480.0M |
| Total equity | $1.45B | $1.55B | $1.51B | $1.35B | $1.15B | $1.11B | $859.6M | $668.9M | $617.1M | $550.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $662.0M | $569.9M | $306.8M | $297.2M | $555.5M | $539.4M | $337.4M | $364.8M | $360.7M | $384.3M |
| Depreciation and amortisation | $142.9M | $128.2M | $119.2M | $108.8M | $99.3M | $95.6M | $87.7M | $61.3M | $65.0M | $64.1M |
| Stock-based compensation | $19.0M | $23.0M | $19.4M | $22.1M | $21.8M | $15.4M | $13.4M | $12.2M | $13.5M | $10.6M |
| Capital expenditure | $83.7M | $103.5M | $149.5M | $143.5M | $104.0M | $78.1M | $92.9M | $90.1M | $58.3M | $50.7M |
| Investing cash flow | -$77.4M | -$59.7M | -$157.7M | -$548.3M | -$128.5M | -$216.1M | -$772.9M | -$127.9M | -$83.8M | -$48.9M |
| Financing cash flow | -$446.1M | -$505.1M | -$147.5M | $42.2M | -$503.7M | $2.4M | $299.5M | -$252.1M | -$245.3M | -$182.9M |
| Dividends paid | $151.1M | $149.5M | $141.9M | $125.7M | $112.4M | $107.7M | $96.1M | $85.0M | $75.8M | $65.9M |
| Buybacks | $290.0M | $245.5M | $60.0M | $140.0M | $302.3M | $0 | $20.0M | $160.4M | $159.4M | $110.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000737758-25-000115.