Lindsay vs Toro
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The short version
- Toro is the larger business, with $4.5B of revenue in fiscal 2025 against $636M for Lindsay, about 7.1 times as much.
- Toro grew revenue faster (−1.6%, against −6.0%).
- Lindsay kept more of each dollar of sales as operating profit (10.5% operating margin, against 9.1%).
- Toro turned more of its sales into free cash flow (12.8% FCF margin, against 5.5%).
- Toro earned a higher return on the capital invested in it (15.9%, against 11.9%).
| Latest fiscal year | LNN · FY26 | TTC · FY25 |
|---|---|---|
| Size | ||
| Market cap | $1.1B | $10.1B |
| Revenue | $636M | $4.5B |
| Free cash flow | $34.8M | $578M |
| Net income | $55.7M | $316M |
| Growth | ||
| Revenue growth | −6.0% | −1.6% |
| 5-year growth | 2.3% | 6.0% |
| Share count change | −4.4% | −4.4% |
| Profitability | ||
| Gross margin | 28.9% | 33.4% |
| Operating margin | 10.5% | 9.1% |
| Net margin | 8.8% | 7.0% |
| FCF margin | 5.5% | 12.8% |
| Return on capital | 11.9% | 15.9% |
| Return on equity | 10.7% | 21.0% |
| Balance sheet | ||
| Net debt | −$74.8M | $581M |
| Net debt / EBITDA | −0.8x | 1.1x |
| Dividends and buybacks | $96.1M | $441M |
| Valuation & quality | ||
| P/E | — | 28.1x |
| Piotroski F-score | 5 | 6 |
Revenue
FY17
LNN $518M
TTC $2.5B
FY18
LNN $548M
TTC $2.6B
FY19
LNN $444M
TTC $3.1B
FY20
LNN $475M
TTC $3.4B
FY21
LNN $568M
TTC $4.0B
FY22
LNN $771M
TTC $4.5B
FY23
LNN $674M
TTC $4.6B
FY24
LNN $607M
TTC $4.6B
FY25
LNN $676M
TTC $4.5B
FY26
LNN $636M
TTC —
LNN
TTC
Operating margin
FY17
LNN 7.9%
TTC 14.2%
FY18
LNN 7.1%
TTC 14.3%
FY19
LNN 1.4%
TTC 10.4%
FY20
LNN 11.4%
TTC 12.6%
FY21
LNN 9.5%
TTC 13.1%
FY22
LNN 12.3%
TTC 12.8%
FY23
LNN 15.2%
TTC 9.5%
FY24
LNN 12.6%
TTC 11.6%
FY25
LNN 13.0%
TTC 9.1%
FY26
LNN 10.5%
TTC —
LNN
TTC
Free cash flow
FY17
LNN $30.6M
TTC $302M
FY18
LNN $22.9M
TTC $275M
FY19
LNN −$19.4M
TTC $244M
FY20
LNN $24.6M
TTC $461M
FY21
LNN $17.5M
TTC $452M
FY22
LNN −$12.6M
TTC $154M
FY23
LNN $101M
TTC $157M
FY24
LNN $66.8M
TTC $466M
FY25
LNN $90.4M
TTC $578M
FY26
LNN $34.8M
TTC —
LNN
TTC
Return on capital
FY17
LNN 9.9%
TTC 42.5%
FY18
LNN 9.4%
TTC 40.9%
FY19
LNN 2.5%
TTC 26.3%
FY20
LNN 16.1%
TTC 24.4%
FY21
LNN 15.7%
TTC 29.7%
FY22
LNN 20.1%
TTC 25.7%
FY23
LNN 18.5%
TTC 15.8%
FY24
LNN 15.8%
TTC 18.8%
FY25
LNN 17.2%
TTC 15.9%
FY26
LNN 11.9%
TTC —
LNN
TTC
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.