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Toro

TTC NYSE Agricultural & Farm Machinery Financials FY2016–FY2025

Toro's revenue fell 1.6% to $4.5 billion in fiscal 2025. Its operating margin was 9.1%, down from 11.6% a year earlier. Free cash flow was $578 million, up 24.0%. It paid out $441 million in dividends and buybacks, 76% of free cash flow. The diluted share count fell 4.4%.

Last close · Oct 23, 2026

$105.29

0.0%
Value it Compare
Revenue Total sales reported in the income statement.
$4.5B
1.6% vs prior year
Operating margin Operating income as a share of revenue.
9.1%
2.5 pts
Net income Profit after all expenses, interest and tax.
$316M
24.5%
Free cash flow Cash from operations minus capital spending.
$578M
24.0%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
15.9%
2.9 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$10.1B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
28.1x
On $3.75 EPS (TTM)

What Toro does

No business description yet.

Legal name
THE TORO COMPANY
Fiscal year ends
October 31, 2025
Latest annual report
—
Accession · CIK
0000737758-25-000115
0000737758

Revenue and margins

Toro had $4.5B of revenue in fiscal 2025, down 1.6% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 4.9% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $578M in fiscal 2025, 12.8% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Toro returned $441M to shareholders in fiscal 2025, 76% of free cash flow. The diluted share count fell 4.4%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Toro yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$581M and divides by 99.8M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 28.1x · peers 27.9x · sector 26.0x.

Balance sheet

Cash, debt and the ratios that show how comfortably Toro can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $406M$188M$193M$200M$341M
Debt incl. finance leases $691M$991M$1.0B$922M$922M
Net debt / EBITDA 0.5x1.2x1.5x1.1x1.1x
Debt / equity 0.6x0.7x0.7x0.6x0.6x
Interest coverage 18.1x16.1x7.3x8.6x6.9x
Current ratio 1.6x1.6x1.9x1.8x1.9x
Quick ratio 0.8x0.6x0.8x0.7x0.9x
Total assets $2.9B$3.6B$3.6B$3.6B$3.4B
Total liabilities $1.8B$2.2B$2.1B$2.0B$2.0B
Shareholders' equity $1.2B$1.4B$1.5B$1.6B$1.5B
Net debt (− = net cash) $286M$803M$838M$722M$581M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

1 insider

Sold, 12 months

$14.2M

7 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Sep 8, 2026 Edric C FunkPresident & COO, Director Sold 145 $94.36 $0.0M Form 4
Jun 26, 2026 Edric C FunkPresident & COO Sold 1,383 $97.98 $0.1M Form 4
Jun 23, 2026 Kurt D SvendsenVP, Technology Sold 6,600 $93.09 $0.6M Form 4
Jun 16, 2026 Angela C DrakeVP & CFO Bought 160 $90.01 $0.0M Form 4
Jun 11, 2026 Peter D MoellerGroup VP, Undg, Spec Con & Inl Sold 2,000 $93.41 $0.2M Form 4
Jun 9, 2026 Gary Lee EllisDirector Sold 4,951 $91.91 $0.5M Form 4
Mar 24, 2026 Gregory S JaneyGroup VP, Landscapes & Contrac Sold 3,500 $95.47 $0.3M Form 4
Mar 10, 2026 James Calvin O'RourkeDirector Sold 4,951 $99.40 $0.5M Form 4
Mar 10, 2026 Richard M OlsonChairman & CEO, Director Sold 119,400 $100.15 $12.0M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✓ ✕
Cash from operations exceeds net income ✕ ✓ ✓
Debt fell relative to assets ✓ ✓ ✕
Current ratio rose ✓ ✕ ✓
Share count didn't rise ✓ ✓ ✓
Gross margin rose ✓ ✕ ✕
Revenue rose relative to assets ✕ ✕ ✓
F-score 6 / 96 / 96 / 9
Accruals ratio 0.6%−4.2%−9.9%
Altman Z'' 4.364.614.40

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Toro TTC $10.1B −1.6% 9.1% 12.8% 15.9% 28.1x 6
AGCO AGCO $7.6B −13.6% 5.9% 7.3% 10.4% 14.7x 8 Compare →
CNH Industrial CNH $14.3B −8.8% — — 4.6% 46.0x — Compare →
Lindsay LNN $1.1B −6.0% 10.5% 5.5% 11.9% 19.8x 5 Compare →
Deere DE $174.9B −11.7% — 13.4% — 35.9x — Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $2.4B $2.5B $2.6B $3.1B $3.4B $4.0B $4.5B $4.6B $4.6B $4.5B
Gross profit $875M $921M $941M $1.0B $1.2B $1.3B $1.5B $1.6B $1.5B $1.5B
Research and development $77.4M $80.4M $83.5M $109M $124M $141M $156M $174M $173M $162M
Operating income $334M $355M $373M $325M $426M $518M $576M $431M $533M $410M
Interest expense $19.3M $19.1M $19.1M $28.8M $33.2M $28.7M $35.7M $58.7M $61.9M $59.1M
Pretax income $331M $353M $372M $322M $407M $500M $553M $401M $513M $378M
Income tax $99.5M $85.5M $101M $48.1M $77.4M $89.9M $109M $70.8M $93.9M $61.5M
Net income $231M $268M $272M $274M $330M $410M $443M $330M $419M $316M
Diluted EPS $2.06 $2.41 $2.50 $2.53 $3.03 $3.78 $4.20 $3.13 $4.01 $3.17
Diluted shares 0.11B 0.11B 0.11B 0.11B 0.11B 0.11B 0.11B 0.11B 0.10B 0.10B
Cash flow
Cash from operations $384M $361M $365M $337M $539M $556M $297M $307M $570M $662M
Capital expenditure $50.7M $58.3M $90.1M $92.9M $78.1M $104M $144M $150M $104M $83.7M
Free cash flow $334M $302M $275M $244M $461M $452M $154M $157M $466M $578M
Depreciation and amortization $64.1M $65.0M $61.3M $87.7M $95.6M $99.3M $109M $119M $128M $143M
Stock-based compensation $10.6M $13.5M $12.2M $13.4M $15.4M $21.8M $22.1M $19.4M $23.0M $19.0M
Acquisitions $0.0M $24.2M $31.2M $698M $138M $24.9M $402M $21.0M $0.8M $4.2M
Share buybacks $110M $159M $160M $20.0M $0.0M $302M $140M $60.0M $246M $290M
Dividends paid $65.9M $75.8M $85.0M $96.1M $108M $112M $126M $142M $150M $151M
Dividends and buybacks $176M $235M $245M $116M $108M $415M $266M $202M $395M $441M
Balance sheet
Cash and short-term investments $274M $310M $289M $152M $480M $406M $188M $193M $200M $341M
Total debt $351M $332M $313M $701M $791M $691M $991M $1.0B $922M $922M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $779M $860M $895M $1.1B $1.4B $1.5B $1.7B $1.8B $1.8B $1.7B
Current liabilities $464M $522M $533M $757M $856M $937M $1.1B $949M $976M $912M
Inventory $307M $329M $358M $652M $652M $738M $1.1B $1.1B $1.0B $921M
Property and equipment, net $222M $235M $272M $437M $468M $488M $572M $642M $645M $616M
Total assets $1.4B $1.5B $1.6B $2.3B $2.9B $2.9B $3.6B $3.6B $3.6B $3.4B
Total liabilities $835M $877M $902M $1.5B $1.7B $1.8B $2.2B $2.1B $2.0B $2.0B
Shareholders' equity $550M $617M $669M $860M $1.1B $1.2B $1.4B $1.5B $1.6B $1.5B
Margins
Gross margin 36.6% 36.8% 35.9% 33.4% 35.2% 33.8% 33.3% 34.7% 33.8% 33.4%
Operating margin 14.0% 14.2% 14.3% 10.4% 12.6% 13.1% 12.8% 9.5% 11.6% 9.1%
EBITDA margin 16.7% 16.8% 16.6% 13.2% 15.5% 15.6% 15.2% 12.1% 14.4% 12.3%
Net margin 9.7% 10.7% 10.4% 8.7% 9.8% 10.4% 9.8% 7.2% 9.1% 7.0%
FCF margin 13.9% 12.1% 10.5% 7.8% 13.7% 11.4% 3.4% 3.5% 10.2% 12.8%
Returns
Return on capital 34.9% 42.5% 40.9% 26.3% 24.4% 29.7% 25.7% 15.8% 18.8% 15.9%
Return on capital employed 37.6% 37.5% 37.1% 24.9% 23.9% 25.9% 25.6% 16.6% 20.1% 16.0%
Return on equity 45.6% 45.9% 42.3% 35.9% 33.4% 36.2% 35.4% 23.0% 27.4% 21.0%
Return on assets 17.2% 18.6% 17.8% 14.0% 12.7% 14.2% 13.7% 9.2% 11.6% 9.0%
Growth
Revenue growth 0.1% 4.7% 4.5% 19.8% 7.7% 17.2% 14.0% 0.9% 0.7% −1.6%
Net income growth 14.6% 15.9% 1.6% 0.8% 20.3% 24.3% 8.2% −25.6% 27.1% −24.5%
EPS growth 15.7% 17.0% 3.7% 1.2% 19.8% 24.8% 11.1% −25.5% 28.1% −21.0%
FCF growth 72.6% −9.3% −9.2% −11.0% 88.7% −2.1% −66.0% 2.3% 196.5% 24.0%
Share count change −1.4% −0.7% −2.3% −0.5% 0.5% −0.2% −2.7% −0.3% −0.9% −4.4%
Financial health
Net debt / EBITDA 0.2x 0.1x 0.1x 1.3x 0.6x 0.5x 1.2x 1.5x 1.1x 1.1x
Debt / equity 0.6x 0.5x 0.5x 0.8x 0.7x 0.6x 0.7x 0.7x 0.6x 0.6x
Interest coverage 17.3x 18.6x 19.5x 11.3x 12.9x 18.1x 16.1x 7.3x 8.6x 6.9x
Current ratio 1.7x 1.7x 1.7x 1.5x 1.7x 1.6x 1.6x 1.9x 1.8x 1.9x
Quick ratio 1.0x 1.0x 1.0x 0.6x 0.9x 0.8x 0.6x 0.8x 0.7x 0.9x
Capital allocation
Capex / revenue 2.1% 2.3% 3.4% 3.0% 2.3% 2.6% 3.2% 3.3% 2.3% 1.9%
Stock comp / revenue 0.4% 0.5% 0.5% 0.4% 0.5% 0.6% 0.5% 0.4% 0.5% 0.4%
Payouts / FCF 52.7% 77.7% 89.4% 47.5% 23.4% 91.9% 172.9% 128.4% 84.7% 76.3%
Quality scores
Piotroski F-score 8.0 7.0 6.0 5.0 6.0 6.0 5.0 6.0 6.0 6.0
Altman Z'' 4.9 5.0 5.1 3.7 4.2 4.3 4.0 4.4 4.6 4.4
Accruals ratio −11.4% −6.5% −6.1% −3.3% −8.1% −5.0% 4.5% 0.6% −4.2% −9.9%

Source: SEC EDGAR XBRL filings (CIK 0000737758). Data updated October 18, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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