TORO CO

Listed Company

TTCCIK 0000737758NYSELarge AcceleratedLawn & Garden Tractors & Home Lawn & Gardens EquipMinnesotaFY ends Oct 31

Period

FY 2025

Revenue

$4.51B

Net Income

$316.10M

Total Assets

$3.44B

Equity

$1.45B

Shares Out

96.93M

Op. Cash Flow

$662.00M

Business

TORO CO designs, manufactures, markets, and sells outdoor environment equipment and services focused on turf maintenance, irrigation, landscaping, snow and ice management, ag‑irrigation, rental and underground construction, and residential yard products. Its main products include professional and residential turf and landscape equipment, irrigation and lighting systems, snow and ice control products, underground construction and specialty rental equipment, and yard tools and snow throwers. The company operates through two reportable segments—Professional and Residential—with remaining activities presented as Other. Products are sold worldwide through distributors, dealers, mass and hardware retailers, rental centers, home centers, online channels, and direct to end‑users.

Summary from filing dated 2025-12-17

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-10-31	FY 2024 2024-10-31	FY 2023 2023-10-31	FY 2022 2022-10-31	FY 2021 2021-10-31
Net sales	4,510	4,584	4,553	4,515	3,960
Cost of sales	3,006	3,035	2,976	3,010	2,621
Gross profit	1,505	1,549	1,578	1,505	1,339
Selling, general and administrative expense	1,014	1,016	996	929	820
Non-cash impairment charges	81	0	151	0	0
Operating earnings	410	533	431	576	518
Interest expense	−59	−62	−59	−36	—
Other income, net	27	41	29	13	10
Earnings before income taxes	378	513	401	553	500
Provision for income taxes	62	94	71	109	90
Net earnings	316	419	330	443	410
Basic net earnings per share of common stock (in dollars per share)	3.18	4.04	3.16	4.23	3.82
Diluted net earnings per share of common stock (in dollars per share)	3.17	4.01	3.13	4.2	3.78
Weighted-average number of shares of common stock outstanding Basic (in shares)	100	104	104	105	107
Weighted-average number of shares of common stock outstanding Diluted (in shares)	100	104	105	106	109

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-10-31	FY 2024 2024-10-31	FY 2023 2023-10-31	FY 2022 2022-10-31	FY 2021 2021-10-31
Cash and cash equivalents	341	200	193	188	406
Other	24	23	24	25	27
Total receivables, net	378	460	407	333	310
Inventories, net	921	1,039	1,088	1,051	738
Prepaid expenses and other current assets	65	67	111	103	35
Total current assets	1,705	1,765	1,799	1,675	1,489
Property, plant, and equipment, net	616	645	642	572	488
Goodwill	451	450	451	583	422
Other intangible assets, net	390	499	540	586	420
Right-of-use assets	115	115	125	76	67
Investment in finance affiliate	41	49	51	39	21
Deferred income taxes	106	45	14	5	6
Other assets	15	15	23	19	24
Total assets	3,439	3,583	3,644	3,556	2,936
Current portion of long-term debt	0	10	0	—	0
Accounts payable	368	453	430	579	503
Short-term lease liabilities	19	20	20	16	14
Warranty	152	150	144	135	117
Advertising and sales promotions and incentives programs	169	180	163	124	104
Compensation and benefit costs	97	59	99	101	109
Insurance	17	16	16	16	14
Interest	8	11	12	11	6
Other	83	76	66	82	70
Total accrued liabilities	526	493	499	469	420
Total current liabilities	912	976	949	1,064	937
Long-term debt	922	912	1,032	991	691
Long-term lease liabilities	100	99	112	64	56
Deferred income taxes	800,000	500,000	400,000	44	50
Other long-term liabilities	51	44	41	42	51
Preferred stock, par value $1.00 per share, authorized 1,000,000 voting and 850,000 non-voting shares, none issued and outstanding	0	0	0	0	0
Common stock, par value $1.00 per share, authorized 175,000,000 shares; issued and outstanding 97,888,105 shares as of October 31, 2025 and 101,472,125 shares as of October 31, 2024	98	102	104	104	105
Retained earnings	1,391	1,496	1,444	1,281	1,072
Accumulated other comprehensive loss	−35	−46	−37	−33	−26
Total stockholders' equity	1,453	1,552	1,511	1,352	1,151
Total liabilities and stockholders' equity	3,439	3,583	3,644	3,556	2,936

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-10-31	FY 2024 2024-10-31	FY 2023 2023-10-31	FY 2022 2022-10-31	FY 2021 2021-10-31
Non-cash income from finance affiliate	−19	−21	−19	−9	−6
Distributions from finance affiliate, net	27	22	8	—	—
Depreciation of property, plant, and equipment	112	94	84	75	76
Amortization of other intangible assets	31	35	36	34	24
Stock-based compensation expense	19	23	19	22	22
Deferred income taxes	−59	−28	−48	−12	−23
Other	6	−3	−200,000	−100,000	500,000
Receivables, net	83	−53	−72	−19	−52
Inventories, net	109	28	−27	−286	−98
Other assets	28	20	18	−30	3
Accounts payable	−87	24	−150	66	139
Other liabilities	13	11	−23	23	56
Net cash provided by operating activities	662	570	307	297	556
Purchases of property, plant, and equipment	−84	−104	−150	−144	−104
Proceeds from sales of property, plant, and equipment	800,000	300,000	400,000	—	—
Proceeds from insurance claim	0	4	7	0	0
Acquisitions, net of cash received	−4	−800,000	−21	−402	−25
Divestitures	10	40	5	5	27
Net cash used in investing activities	−77	−60	−158	−548	−129
Borrowings under debt arrangements	1,040	465	555	300	270
Repayments under debt arrangements	−1,040	−575	−515	0	−370
Proceeds from exercise of stock options	2	9	20	10	13
Payments of withholding taxes for stock awards	−3	−4	−4	−2	−2
Common stock repurchases	−290	−246	−60	−140	−302
Dividends paid on common stock	−151	−150	−142	−126	−112
Other	−4	−5	−2	0	0
Net cash used in financing activities	−446	−505	−148	42	−504
Effect of exchange rates on cash and cash equivalents	3	1	3	−9	2
Net increase in cash and cash equivalents	142	6	5	−217	−74
Interest	63	63	61	31	32
Income taxes	106	92	165	121	102

Filings

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