FirmAtlas
Company handbook · TTC · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-16
TTC · CIK 737758 · LATEST FILING: 10-Q JUL '26 · FILED SEP 3, 2026
THE TORO COMPANY
$100.58
−0.24 (−0.24%)
Close, Oct 16, 2026 · 52-week $68–105
Toro makes equipment for lawns, golf courses, sports fields and construction: professional mowers, irrigation systems, snow and ice equipment, underground and rental construction equipment (Ditch Witch), and home mowers and snow throwers (Toro, Exmark).
Business
- SegmentsProfessional 81% · Residential 19% (FY25)
- ProductsEquipment Products And Services 90% · Irrigation And Lighting 10% (FY25)
- RegionsUS 81% · Outside US 19% (FY25)
- CustomersLandscapers, golf courses, cities, farms, contractors and home owners; sold through dealers, distributors, and home centers and other retailers
- Cash useFY24–FY25: buybacks $536M · dividends $301M · capex $187M · acquisitions $5M
Reinvested 16% of operating cash flow · returned 80% of free cash flow
Last fiscal year
THE TORO COMPANY reported revenue of $4.5B for the year ended Oct 31, 2025 (FY25), down 1.6% from FY24. Net income was $316M, operating cash flow $662M and free cash flow $578M. Source: 10-K filed Dec 17, 2025.
Market cap
$9.8B
P/E
27.1
EV/EBITDA
18.9x
P/B
7.4
Div yield
1.55%
ROIC
15.9%
Revenue 1Y
−1.6%/yr
EPS 1Y
−20.9%/yr
Shares 1Y
−4%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEORichard M. Olson
HQBloomington, MN
AuditorKPMG LLP
Year endsOctober
Revenue by segment · FY25
Professional81%
Residential19%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
7.9%
0.6%
4.9%
35.6%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$1.0B deployed
Capex
$187M
18.2%
Acquisitions
$5M
0.5%
Dividends
$301M
29.2%
Buybacks
$536M
52.1%
Operating cash flow over the period: $1.2B. Total debt changed by −$10M. R&D of $335M is already inside operating costs.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · FY25 = year ended Oct 31, 2025 · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jul '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
4,584
4,510−1.6%
4,753
YoY
−1.6%
Gross profit
1,549
1,505−2.9%
1,588
Gross margin
33.8%
33.4%−0.4 pp
—
Operating income
533
410−23.1%
490
Operating margin
11.6%
9.1%−2.5 pp
—
EBITDA
662
553−16.4%
—
EBITDA margin
14.4%
12.3%−2.2 pp
—
Interest expense
62
59−4.5%
—
Interest coverage
10.69x
9.35x−1.33x
—
Net income
419
316−24.5%
363
YoY
−24.5%
Net margin
9.1%
7.0%−2.1 pp
—
EPS (diluted, $)
4.01
3.17−20.9%
3.75
YoY
−20.9%
Balance sheet
Total assets
3,583
3,439−4.0%
3,536
Cash & short-term investments
200
341+70.9%
—
Accounts receivable
460
378−17.7%
—
Inventory
1,039
921−11.4%
—
Net PP&E
645
616−4.5%
—
Other assets
1,240
1,183−4.6%
—
Total liabilities
2,031
1,986−2.2%
2,200
Accounts payable
453
368−18.8%
—
Total debt
932
922−1.1%
962
Other liabilities
646
696+7.7%
—
Shareholders’ equity
1,552
1,453−6.4%
1,336
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
570
662+16.2%
789
Net income
419
316−24.5%
—
Depreciation & amortization
128
143+11.5%
—
Stock-based compensation
23
19−17.4%
—
Working capital & other
(0.2)
184n/m
—
Cash from investing
(60)
(77)n/m
—
Capex
(104)
(84)n/m
—
PP&E sold
0.3
0.8+166.7%
—
Acquisitions
(0.8)
(4)n/m
—
Other investing
44
10−78.1%
—
Cash from financing
(505)
(446)n/m
—
Dividends
(150)
(151)n/m
—
Buybacks
(246)
(290)n/m
—
Shares issued
9
2−76.9%
—
Other financing
(119)
(7)n/m
—
Net change in cash
6
142+2110.9%
—
Free cash flow (OCF − capex)
466
578+24.0%
712
Where the cash went
Operating cash flow
570
662+16.2%
789
Reinvested in the business
104
88−15.7%
—
% of operating cash flow
18.3%
13.3%
Capex
104
84−19.1%
78
Acquisitions
0.8
4+425.0%
—
R&D (memo, already in costs)
173
162−6.2%
—
Free cash flow
466
578+24.0%
712
YoY
+24.0%
Returned to shareholders
395
441+11.7%
—
% of free cash flow
84.7%
76.3%
Dividends
150
151+1.1%
—
Buybacks
246
290+18.1%
—
Change in total debt
—
(10)
—
Cash left over
—
123
—
FCF conversion (FCF ÷ net income)
111.3%
182.9%+71.6 pp
—
Owner earnings
—
490
—
Owner earnings margin
—
10.9%
—
Buyback yield
3.0%
4.0%+1.0 pp
—
Returns & ratios
ROIC (all capital)
19.1%
15.9%−3.2 pp
—
ROIC (operating)
25.8%
21.2%−4.6 pp
—
Net debt / EBITDA
1.11x
1.05x−0.06x
—
Debt / equity
0.60x
0.63x+0.03x
—
Cash conversion cycle (days)
107
98−9 d
—
ROE
27.0%
21.8%−5.2 pp
—
ROA
11.7%
9.2%−2.5 pp
—
ROCE
20.5%
16.2%−4.2 pp
—
NOPAT
436
343−21.2%
—
Invested capital (operating)
1,691
1,547−8.5%
—
Invested capital (all)
2,284
2,034−11.0%
—
Reinvestment rate
—
−41.8%
—
Debtor days
37
31−6 d
—
Inventory days
125
112−13 d
—
Days payable
54
45−10 d
—
Income
Oct '25
Jan '26
May '26
Jul '26
Revenue
1,066
1,036
1,425
1,226
vs year-ago quarter
Gross profit
351
336
483
418
Gross margin
32.9%
32.5%
33.9%
34.1%
Operating income
92
87
195
115
Net income
73
68
145
77
vs year-ago quarter
Net margin
6.8%
6.6%
10.2%
6.3%
EPS (diluted, $)
0.75
0.69
1.50
0.81
vs year-ago quarter
Balance sheet
Oct '25
Jan '26
May '26
Jul '26
Total assets
3,439
3,702
3,707
3,536
Cash & equivalents
341
189
180
175
Total debt
922
1,072
1,017
962
Shareholders’ equity
1,453
1,419
1,368
1,336
Cash flow
Oct '25
Jan '26
May '26
Jul '26
Operating cash flow
313
26
267
183
Capex
27
12
16
23
Free cash flow
286
15
251
160
vs year-ago quarter