Lindsay vs Toro
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KIRA’s take AI analyst
I put Lindsay and Toro side by side, using each one’s latest annual report. Here is what stands out:
- 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%).
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
Lindsay
LNN
3/11
Operating marginNet marginNet debt / EBITDA
Toro
TTC
7/11
Revenue growth5-year growthGross marginFCF marginReturn on capitalReturn on equityPiotroski F-score
Side by side
Best in the row
| 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 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.

