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Toro Co (TTC) stock

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NYSE: TTC NYSE Agricultural & Farm Machinery Next results ~December 3, 2026

B Fundamentals grade

Toro Co is a US-listed company in the agricultural & farm machinery industry. Its financial year ends in October.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$97

Cash-flow model

Base case. Range ~$71–$130 across our lower- and higher-growth cases (-2.4%–7.6% a year).

Price vs value

Modestly overvalued

The price is inside our value range, 12% above our base value.

Price used: $108.84, November 2, 2026

Toro Co valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 7 selling1 purchase and 13 sales by directors and officers, last 12 monthsInsider trades
  • Funds287 adding, 260 cuttingOf 62 active managers that changed their stake, 38 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Toro files

Where Toro Co stands after its latest 10-Q

Revenue for the twelve months to July 2026 was $4.75bn, up 5.2% on a year earlier, faster than 2.5% a quarter earlier. Free-cash-flow margin rose to 15.0% from 10.9% a year earlier. The diluted share count is down 3.7% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 4 of our 6 financial-health checks. Our cash-flow model value is $85.74 a share, against a share price of $102. At that price, our model says the market is pricing in about 5.5% a year of cash-flow growth for five years, close to the 3.7% a year revenue growth it has delivered.

Source: 10-Q filed September 3, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~December 3, 2026 (estimated)

Toro Co's trailing-twelve-month revenue grew 5.2% year on year, with a free-cash-flow margin of 15.0%. Where it stands out: gross margin of 33.4% ranks 1 of 6 agricultural & farm machinery companies we cover. Where it lags: long-term debt as % of assets of 27.2% ranks 5 of 5 agricultural & farm machinery companies we cover.

Our discounted-cash-flow model values the business at ~$97 per share in the base case (~$71–$130 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 44.6% while net income grew 9.1%: a 35pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 3.7% in a year, so each share owns more of the business.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 27.2% ranks 5 of 5 agricultural & farm machinery companies we cover (median 15.0%).

Latest results: FY2026 Q3

Filed September 3, 2026
Earnings per share
$1.33 against an average estimate of $1.31: beat by 1.7%
Revenue
$1.23bn, up 8.4% on a year earlier
Share reaction
-5.9% in the first session after the results on September 3, 2026, against +0.7% for the S&P 500
Guidance given
total company net sales growth growth 6.3% to 6.6% (full-year); adjusted EPS $4.6 to $4.65 (full-year)
Next report
September 3, 2026; average EPS estimate $0.97

Toro's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.8%
  • 1 week+3.2%
  • 1 month+10.8%
  • This year+40.0%
  • 1 year+48.2%
  • 5 years+20.5%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$4.8B
Operating margin
10.3%
Net margin
7.6%
EPS (TTM, diluted)
$3.73

Growth

Revenue growth
+5.2%
Change in growth rate
+2.7 pts
Share count change
−3.7%

Cash

Free cash flow (TTM)
$712M
FCF margin
15.0%
Stock pay % of revenue
0.5%

Earnings

Last results
September 3, 2026
Next results (est.)
December 3, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Results
  3. Guidance
  4. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Toro Co valuation models and calculator

What the price is pricing in

The share price implies about 4.6% a year of cash-flow growth for five years.That is close to the 3.7% a year revenue growth Toro has delivered.

  • Priced in4.6%
  • Last 12 months5.2%
  • 3 years a year0.1%
  • 5 years a year3.7%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($108.00, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$97
Price used
$108.00close November 3, 2026
Implied change
▼ 10%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Toro Co's free cash flow after stock-based pay with after-tax interest added back ($571M, FY2026 Q3 TTM), growing 3.7% and 3.1% in the next two years (forecasts, guidance and its record), then back to 2.6% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$71–~$130 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Toro Co's free cash flow after stock-based pay ( $571M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Toro Co as an operating company, with every model that fits that kind of business. Cost of equity 8.9%: the 10-year Treasury yield (4.9%) plus a beta of 0.89 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$97 ~$71–$130 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$88 ~$82–$95 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$63 ~$47–$86 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$56 ~$48–$67 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$80 ~$56–$97 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Toro Co with Agricultural & Farm Machinery in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −26%
  • Revenue growth 5 points higher ▲ +35%
  • Free-cash-flow margin 1 point lower ▼ −7%
  • Last year's free-cash-flow margin change, if it persists ▲ +37%
  • Discount rate 1 point higher ▼ −15%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $79$110$151$206$276$368
8.5% $58$81$111$150$200$265
10% $46$63$86$116$155$204

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$32.15$41.48$55.07$50.00$69.40$74.90$88.02$98.56$76.63$77.48$73.42$108.84
Market value$3.6bn$4.6bn$6.1bn$5.4bn$7.5bn$8.1bn$9.6bn$10.4bn$8.1bn$8.1bn$7.3bn$10.6bn
+ Net debt (− = net cash)$252m$77m$22m$23m$549m$311m$286m$803m$838m$722m$581m$787m
Enterprise value$3.9bn$4.7bn$6.1bn$5.5bn$8.1bn$8.5bn$9.8bn$11.2bn$8.9bn$8.8bn$7.9bn$11.4bn
Multiples
Price / sales 1.5x1.9x2.4x2.1x2.4x2.4x2.4x2.3x1.8x1.8x1.6x2.2x
Price / earnings 18.1x20.1x22.9x20.0x27.4x24.7x23.3x23.5x24.5x19.3x23.2x29.2x
Price / free cash flow 18.9x13.9x20.3x19.8x30.7x17.6x21.2x67.7x51.3x17.3x12.7x14.9x
EV / EBITDA 10.8x11.9x14.6x12.6x19.5x16.2x15.9x16.4x16.2x13.3x14.3x17.9x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

78 /100

Strong moat

How hard Toro's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 18 / 20

    Net income has been a median 11.0% of total assets over 10 years.

  • Pricing power 12 / 20

    Gross margin has been a median 34.4%, moving by 1.4 percentage points (standard deviation) across 10 years.

  • Durability 13 / 20

    Operating margin has been a median 11.5%; its worst year was 9.4%.

  • Cash conversion 15 / 20

    Free cash flow was positive in 10 of 10 years, at a median 9.9% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 10.6% over five years; stock-based pay has been a median 0.5% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $4.64 +10% $4.8bn +6%
Next $5.10 +10% $5.0bn +4%

Next year's EPS estimate has moved +0.7% in 90 days, across 6 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +0.7% on 90 days ago. In the last 30 days, 5 analysts raised Toro Co's forecast and 0 cut it.

Consensus EPS forecast Toro Co, last 90 days
$4.60 $4.80 $5.00 $5.20 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $4.61 Current fiscal year, 60 days ago: $4.61 Current fiscal year, 30 days ago: $4.61 Current fiscal year, 7 days ago: $4.64 Current fiscal year, Now: $4.64 $4.64 Next fiscal year, 90 days ago: $5.07 Next fiscal year, 60 days ago: $5.07 Next fiscal year, 30 days ago: $5.07 Next fiscal year, 7 days ago: $5.08 Next fiscal year, Now: $5.10 $5.10

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $4.61$5.07
60 days ago $4.61$5.07
30 days ago $4.61$5.07
7 days ago $4.64$5.08
Now $4.64$5.10

Earnings against estimates

Quarter toEstimateActualSurprise
Jul 2026 $1.31 $1.33 +1.7%
Apr 2026 $1.50 $1.60 +6.7%
Jan 2026 $0.65 $0.74 +14.2%
Oct 2025 $0.87 $0.91 +4.2%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, September 3, 2026
  • total company net sales growth full-year 6.3% growth to 6.6% growth Raised
    “The company is raising its full-year net sales and *adjusted EPS guidance and now expects total company net sales growth in the range of 6.3% to 6.6%, up from the previous range of 4.0% to 6.5%, and *adjusted EPS in the range of $4.60 to $4.65, up from the previous range of $4.50 to $4.62.” source
  • adjusted EPS full-year $4.60 to $4.65 Non-GAAP Raised
    “The company is raising its full-year net sales and *adjusted EPS guidance and now expects total company net sales growth in the range of 6.3% to 6.6%, up from the previous range of 4.0% to 6.5%, and *adjusted EPS in the range of $4.60 to $4.65, up from the previous range of $4.50 to $4.62.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Toro Co's revenue by +3.7% next year and +3.1% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+4.1%, weight 52%) , management guidance (+4.2%, weight 21%) and the company's own record (+2.6%, weight 28%) . How the weights are set.

Analyst recommendations

6 analysts, Oct 2026
Buy350%
Hold350%
Sell00%

Monthly trend

  1. Oct 2026336
  2. Sep 2026336
  3. Aug 2026235
  4. Jul 2026235

Counts of recommendations published by analysts covering Toro Co, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.4%
of tradable shares
Days to cover
4.94
at average volume
Short interest, 1 month
+7%
to October 15, 2026
Held by institutions
98%
of shares
Held by insiders
1.7%
of shares
Employees
9,227
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +48.2%

$73.42 on October 31, 2025 to $108.84

ThenNowEffect
Revenue (last 12 months) $4.5bn $4.8bn +5.2%
Net margin 7.4% 7.6% +3.8%
P/E multiple 22.3x 29.2x +30.9%
Share count 101m 97m +3.8%

Biggest factor: p/e multiple.

Last 3 years +33.4%

$81.59 on November 3, 2023 to $108.84

ThenNowEffect
Revenue (last 12 months) $4.7bn $4.8bn +0.2%
Net margin 7.9% 7.6% −3.8%
P/E multiple 22.8x 29.2x +28.1%
Share count 105m 97m +8.0%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
TTC+7%+15%−14%−15%+0%+40%
Industry peers (median)+23%+8%−6%−7%+8%+10%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
TTC42%50%42%25%42%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
TTC−19%−27%−31%−19%−27%−14%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 43% from January 13, 2023 to April 8, 2025. Getting back needed a 76% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$66.80 – $108.84
From 52-week high
0.0%
vs 50-day average
+10.8%
vs 200-day average
+14.7%
Volatility (1 year)
26%
Beta vs S&P 500
0.38

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±7.3%
After a week
4 up, 8 down
typical move ±7.2%
After a month
4 up, 8 down
typical move ±7.1%
Results releasedNext dayS&P 500 next day5 days21 days
September 3, 2026 −5.9% +0.7% −6.5% −0.2%
June 4, 2026 −4.1% −2.2% +1.4% +4.5%
March 5, 2026 −1.3% −1.9% −5.7% −6.8%
December 17, 2025 +7.6% −0.4% +9.1% +21.6%
September 4, 2025 +1.4% +0.5% −0.8% −4.6%
June 5, 2025 −9.4% +0.5% −7.7% −1.1%
March 6, 2025 −6.1% −1.2% −7.9% −15.3%
December 18, 2024 −4.9% −3.0% −3.8% −0.9%
September 5, 2024 −9.8% −1.9% −8.8% −7.3%
June 6, 2024 +20.5% −0.1% +19.7% +10.7%
March 7, 2024 −4.8% +0.4% −5.7% −6.8%
December 20, 2023 +11.6% −0.5% +8.9% +5.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Toro Co’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Includes results

A results date falls inside these options’ life. Implied volatility is meant to be higher for that, so we do not call it rich.

  • Implied is 1.60× the last 60 days’ realised volatility .
  • Why: an earnings date falls inside the option's life, so implied volatility is expected to be high.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: fundamentals grade B (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

TTC Toro Co Grade B $109.27

Own 100 shares, sell the $110 call expiring December 18, 2026 (46 days) for $4.20 a share — $420 per contract.

Previous session · Bid $4.20, ask $5.10, quoted Mon 2 Nov, 17:38 New York time with TTC at $109.27. Option prices move with the shares: check the live chain at your broker before trading.

  • If TTC ends below $110: you keep your shares and the $420 — 3.8% extra on the position, 30.5% a year at that pace.
  • If it ends above $110: your shares are sold at $110, a total return of 4.5% including the premium — at or above our value of ~$97.
$493 $0 −$2.1k Our value $97.00 Break-even $105.07 Price $109.27
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$420
Annualised
30.5%
Break-even
$105.07
Max gain
$493
Chance of selling
~52%

Results are expected around December 3, 2026, before this option expires: the share price can jump on results, and the premium partly reflects that.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Toro Co in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Toro Co
$4.4B $4.5B $4.6B $4.7B $4.8B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $4.6B Revenue (TTM), FY24 Q1: $4.4B Revenue (TTM), FY24 Q2: $4.4B Revenue (TTM), FY24 Q3: $4.5B Revenue (TTM), FY24 Q4: $4.6B Revenue (TTM), FY25 Q1: $4.6B Revenue (TTM), FY25 Q2: $4.5B Revenue (TTM), FY25 Q3: $4.5B Revenue (TTM), FY25 Q4: $4.5B Revenue (TTM), FY26 Q1: $4.6B Revenue (TTM), FY26 Q2: $4.7B Revenue (TTM), FY26 Q3: $4.8B $4.8B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $4.6B
FY24 Q1 $4.4B
FY24 Q2 $4.4B
FY24 Q3 $4.5B
FY24 Q4 $4.6B
FY25 Q1 $4.6B
FY25 Q2 $4.5B
FY25 Q3 $4.5B
FY25 Q4 $4.5B
FY26 Q1 $4.6B
FY26 Q2 $4.7B
FY26 Q3 $4.8B
Revenue growth, TTM YoY Toro Co
-10% -5% 0% 5% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 0.9% Revenue growth, TTM YoY, FY24 Q1: -6.9% Revenue growth, TTM YoY, FY24 Q2: -8.4% Revenue growth, TTM YoY, FY24 Q3: -5.3% Revenue growth, TTM YoY, FY24 Q4: 0.7% Revenue growth, TTM YoY, FY25 Q1: 3.9% Revenue growth, TTM YoY, FY25 Q2: 2.9% Revenue growth, TTM YoY, FY25 Q3: 0.7% Revenue growth, TTM YoY, FY25 Q4: -1.6% Revenue growth, TTM YoY, FY26 Q1: -0.6% Revenue growth, TTM YoY, FY26 Q2: 2.5% Revenue growth, TTM YoY, FY26 Q3: 5.2% 5.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 0.9%
FY24 Q1 -6.9%
FY24 Q2 -8.4%
FY24 Q3 -5.3%
FY24 Q4 0.7%
FY25 Q1 3.9%
FY25 Q2 2.9%
FY25 Q3 0.7%
FY25 Q4 -1.6%
FY26 Q1 -0.6%
FY26 Q2 2.5%
FY26 Q3 5.2%
Operating margin (TTM) Toro Co
7% 8% 9% 10% 11% 12% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 9.5% Operating margin (TTM), FY24 Q1: 8.7% Operating margin (TTM), FY24 Q2: 8.0% Operating margin (TTM), FY24 Q3: 11.6% Operating margin (TTM), FY24 Q4: 11.6% Operating margin (TTM), FY25 Q1: 11.4% Operating margin (TTM), FY25 Q2: 11.2% Operating margin (TTM), FY25 Q3: 9.4% Operating margin (TTM), FY25 Q4: 9.1% Operating margin (TTM), FY26 Q1: 9.2% Operating margin (TTM), FY26 Q2: 9.4% Operating margin (TTM), FY26 Q3: 10.3% 10.3%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 9.5%
FY24 Q1 8.7%
FY24 Q2 8.0%
FY24 Q3 11.6%
FY24 Q4 11.6%
FY25 Q1 11.4%
FY25 Q2 11.2%
FY25 Q3 9.4%
FY25 Q4 9.1%
FY26 Q1 9.2%
FY26 Q2 9.4%
FY26 Q3 10.3%
FCF margin (TTM) Toro Co
0% 5% 10% 15% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 3.5% FCF margin (TTM), FY24 Q1: 3.3% FCF margin (TTM), FY24 Q2: 5.9% FCF margin (TTM), FY24 Q3: 8.3% FCF margin (TTM), FY24 Q4: 10.2% FCF margin (TTM), FY25 Q1: 11.1% FCF margin (TTM), FY25 Q2: 10.0% FCF margin (TTM), FY25 Q3: 10.9% FCF margin (TTM), FY25 Q4: 12.8% FCF margin (TTM), FY26 Q1: 14.5% FCF margin (TTM), FY26 Q2: 16.3% FCF margin (TTM), FY26 Q3: 15.0% 15.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 3.5%
FY24 Q1 3.3%
FY24 Q2 5.9%
FY24 Q3 8.3%
FY24 Q4 10.2%
FY25 Q1 11.1%
FY25 Q2 10.0%
FY25 Q3 10.9%
FY25 Q4 12.8%
FY26 Q1 14.5%
FY26 Q2 16.3%
FY26 Q3 15.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Oct 2009 2010 Oct 2010 2011 Oct 2011 2012 Oct 2012 2013 Oct 2013 2014 Oct 2014 2015 Oct 2015 2016 Oct 2016 2017 Oct 2017 2018 Oct 2018 2019 Oct 2019 2020 Oct 2020 2021 Oct 2021 2022 Oct 2022 2023 Oct 2023 2024 Oct 2024 2025 Oct 2025 LTM Jul 2026
Income
Revenue 1,523 1,690 1,884 1,959 2,041 2,173 2,391 2,392 2,505 2,619 3,138 3,379 3,960 4,515 4,553 4,584 4,510 4,753
Gross profit 511 576 637 673 725 773 836 875 921 941 1,048 1,190 1,339 1,505 1,578 1,549 1,505 1,588
EBITDA 160 196 233 259 285 316 362 398 420 434 413 522 618 685 550 662 553 636
Operating income 115 151 184 206 231 263 299 334 355 373 325 426 518 576 431 533 410 490
Net income 63 93 118 130 155 174 202 231 268 272 274 330 410 443 330 419 316 363
Diluted EPS $0.43 $0.69 $0.93 $1.07 $1.31 $1.51 $1.78 $2.06 $2.41 $2.50 $2.53 $3.03 $3.78 $4.20 $3.13 $4.01 $3.17 $3.73
Growth (year on year)
Revenue −18.9% +11.0% +11.5% +4.0% +4.2% +6.4% +10.0% +0.1% +4.7% +4.5% +19.8% +7.7% +17.2% +14.0% +0.9% +0.7% −1.6% +5.2%
EBITDA −35.2% +22.9% +18.7% +11.3% +9.9% +11.1% +14.5% +10.0% +5.4% +3.4% −5.0% +26.5% +18.3% +10.8% −19.7% +20.3% −16.4% +8.3%
Operating income −41.9% +31.3% +22.0% +11.5% +12.2% +14.1% +13.7% +11.8% +6.2% +5.1% −12.9% +31.2% +21.6% +11.1% −25.2% +23.8% −23.1% +14.9%
Net income −47.5% +48.4% +26.2% +10.1% +19.5% +12.3% +15.9% +14.6% +15.9% +1.6% +0.8% +20.3% +24.3% +8.1% −25.6% +27.1% −24.5% +9.1%
Diluted EPS −44.2% +60.7% +33.1% +15.7% +22.4% +15.3% +17.9% +15.7% +17.0% +3.7% +1.2% +19.8% +24.8% +11.1% −25.5% +28.1% −20.9% +13.3%
Margins
Gross margin 33.5% 34.1% 33.8% 34.4% 35.5% 35.6% 35.0% 36.6% 36.8% 35.9% 33.4% 35.2% 33.8% 33.3% 34.6% 33.8% 33.4% 33.4%
EBITDA margin 10.5% 11.6% 12.4% 13.2% 14.0% 14.6% 15.2% 16.7% 16.8% 16.6% 13.2% 15.4% 15.6% 15.2% 12.1% 14.4% 12.3% 13.4%
Operating margin 7.6% 8.9% 9.8% 10.5% 11.3% 12.1% 12.5% 14.0% 14.2% 14.2% 10.4% 12.6% 13.1% 12.8% 9.5% 11.6% 9.1% 10.3%
Net margin 4.1% 5.5% 6.2% 6.6% 7.6% 8.0% 8.4% 9.7% 10.7% 10.4% 8.7% 9.8% 10.4% 9.8% 7.2% 9.1% 7.0% 7.6%
Free-cash-flow margin 14.0% 8.6% 3.0% 7.3% 8.4% 5.1% 8.1% 13.9% 12.1% 10.5% 7.8% 13.7% 11.4% 3.4% 3.5% 10.2% 12.8% 15.0%
Cash flow
Cash from operations 251 194 114 186 222 182 250 384 361 365 337 539 556 297 307 570 662 789
Capital spending 38 49 57 43 49 71 56 51 58 90 93 78 104 144 150 104 84 78
Free cash flow 214 145 56 143 172 111 193 334 302 275 244 461 452 154 157 466 578 712
Stock-based pay 4 6 9 10 10 11 11 11 14 12 13 15 22 22 19 23 19 22
Free cash flow after stock pay 209 138 48 133 162 100 182 323 289 263 231 446 430 132 138 443 559 690
Balance sheet
Cash 188 177 81 126 183 315 126 274 310 289 152 480 406 188 193 200 341 175
Total debt 233 227 229 227 224 375 378 351 332 313 701 791 691 991 1,032 922 922 962
Net debt (negative = net cash) 46 49 148 101 41 60 252 77 22 23 549 311 286 803 838 722 581 787
Diluted shares 145m 134m 127m 121m 118m 115m 114m 112m 111m 109m 108m 109m 109m 106m 105m 104m 100m 97m
Returned to shareholders
Dividends 21 24 25 26 32 45 56 66 76 85 96 108 112 126 142 150 151 150
Buybacks 115 136 130 93 100 103 106 110 159 160 20 0 302 140 60 246 290 358
Total returned 137 159 155 120 132 148 162 176 235 245 116 108 415 266 202 395 441 508

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

4 of 6 checks passed · July 31, 2026
What it owns · $3.5bn
Short-term assets $1.7bnLonger-term assets $1.9bn
What it owes, and who funded it · $2.4bn
Short-term liabilities $1.1bnShareholders' equity $1.3bn
  • Short-term assets cover short-term liabilities $1.7bn of assets due within a year against $1.1bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $175m of cash against $962m of debt.
  • Debt below 40% of shareholders' equity Debt is 72% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 89% to 72% over five years.
  • A year's operating cash flow covers at least 20% of debt $789m of operating cash flow against $962m of debt.
  • Operating profit covers interest at least five times over Operating income of $490m against $56m of interest.

From Toro Co's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$358M
Dividends (TTM)
$150M
Returned to shareholders
71%
of free cash flow
Buybacks, last 3 fiscal years
$596M
Diluted share count
−3.7%
year over year
Total shareholder yield
4.9%
dividends 1.5% + buybacks 3.5% of market value
Dividend payout ratio
41%
of net income paid out
Sales & admin spending
22.2%
of revenue

Competitors: side by side with peers

Closest by revenue in agricultural & farm machinery
Last 12 months unless stated TTC AGCO ALG CNH LNN DE Median
Revenue, last 12 months $4.8bn $10.1bn $1.7bn $18.2bn $636m $48.0bn $4.8bn
Revenue growth, last 12 months 5.2% 0.9% 4.1% 0.6% −6.0% 8.0% 4.1%
Revenue growth, 3-year average 0.1% −11.3% 1.1% −9.7% −1.9% −7.9% −5.7%
Revenue growth, latest quarter 8.4% −8.6% 7.6% 2.0% 5.2% 4.9% 4.9%
Gross margin 33.4% 25.0% 24.2% 30.6% 28.9% 21.4% 26.0%
Operating margin 10.3% 5.6% 8.9% 6.0% 10.5% 21.2% 8.9%
Operating margin, 3-year average 10.4% 3.6% 10.1% — 12.1% 19.1% 10.3%
Net margin 7.6% 2.8% 6.1% 1.7% 8.8% 10.2% 6.1%
Cash from operations / revenue 16.6% 5.4% 9.8% 9.8% 11.8% 15.1% 9.8%
Free-cash-flow margin 15.0% 2.9% 8.1% 2.5% 5.5% 12.5% 5.5%
Free-cash-flow margin, 3-year average 11.4% 4.4% 8.5% — 9.9% 14.4% 9.2%
Stock pay / revenue 0.5% 0.4% 0.5% 0.1% 0.9% 0.3% 0.5%
Change in share count −3.7% −3.8% 0.4% −0.6% −4.4% −0.5% −0.6%

Median of all 7 companies we cover in agricultural & farm machinery. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

7 agricultural & farm machinery companies
Measure Company Peer median Rank
Revenue growth Growth 5.2% 4.1% 2 of 7
Change in growth rate Growth +2.7pp +1.8pp 3 of 7
Gross margin Profitability 33.4% 28.9% 1 of 6
Operating margin Profitability 10.3% 8.9% 2 of 5
Net margin Profitability 7.6% 6.1% 3 of 7
Free-cash-flow margin Cash generation 15.0% 8.1% 1 of 6
Stock pay as % of revenue Cash generation 0.5% 0.5% 3 of 6
Long-term debt as % of assets Balance sheet 27.2% 15.0% 5 of 5
Change in share count Balance sheet -3.7% -0.6% 3 of 7

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to October 31, 2025
Segments
Line of business Revenue YoY
Professional $3.6B ▲ 1.5%
Residential $858M ▼ 14.0%

These categories overlap or exclude eliminations, so shares aren't shown.

Products and services
Line of business Revenue Share YoY
Equipment Products and Services $4.1B 90.2% ▼ 1.6%
Irrigation $443M 9.8% ▼ 1.5%
Geography
Region Revenue Share YoY
United States $3.6B 80.5% ▼ 0.8%
Outside the US $878M 19.5% ▼ 4.8%

From Toro Co's 10-K filed December 17, 2025, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$8.7B
Institutions reporting
592
Shares held vs prior quarter
▲ 1.1%
Positions opened / closed
76 / 62

Top buyers and sellers, Q2 2026: 287 institutions bought and 260 sold ; the biggest buyer was Quantinno Capital Management LP (+680K shares) and the biggest seller Neuberger Berman Group LLC (−1.7M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $874M 9.0M 10.1% ▲ 0.6%
Kayne Anderson Rudnick Investment Management LLC $695M 7.1M 8.0% ▼ 9.9%
Vanguard Portfolio Management LLC $531M 5.5M 6.1% ▲ 4.7%
AQR Capital Management LLC $429M 4.4M 4.9% ▼ 2.5%
Vanguard Capital Management LLC $426M 4.4M 4.9% ▼ 0.3%
State Street Corp $415M 4.2M 4.8% ▲ 5.1%
Victory Capital Management Inc $331M 3.4M 3.8% ▲ 13.0%
Allspring Global Investments Holdings, LLC $286M 2.9M 3.3% ▼ 6.4%
Mairs & Power Inc $261M 2.7M 3.0% ▼ 1.6%
Geode Capital Management, LLC $195M 2.0M 2.2% ▲ 0.1%
FMR LLC $184M 1.9M 2.1% ▲ 6.4%
Dimensional Fund Advisors LP $169M 1.7M 1.9% ▲ 3.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Toro Co's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $14,402 1 trade by 1 insider, last 12 months Insider sales History → $14.2M 13 trades by 7 insiders · 0% under pre-set plans
Net ▼ $14.2M net selling
Insider Date Trade Shares Price Value
Funk Edric C President & COO September 8, 2026 Sell 145 $94.36 $13,682
Funk Edric C President & COO June 26, 2026 Sell 280 $97.98 $27,434
Funk Edric C President & COO June 26, 2026 Sell 856 $97.98 $83,876
Funk Edric C President & COO June 26, 2026 Sell 247 $97.97 $24,239
Svendsen Kurt D VP, Technology June 23, 2026 Sell 6,600 $93.09 $614,394
Drake Angela C VP & CFO June 16, 2026 Buy 160 $90.01 $14,402
Moeller Peter D Group VP, Undg, Spec Con & Inl June 11, 2026 Sell 100 $93.41 $9,341
Moeller Peter D Group VP, Undg, Spec Con & Inl June 11, 2026 Sell 1,320 $93.40 $123,288
Moeller Peter D Group VP, Undg, Spec Con & Inl June 11, 2026 Sell 480 $93.45 $44,856
Ellis Gary Lee Director June 9, 2026 Sell 4,951 $91.91 $455,046
Janey Gregory S Group VP, Landscapes & Contrac March 24, 2026 Sell 1,750 $95.44 $167,020
Janey Gregory S Group VP, Landscapes & Contrac March 24, 2026 Sell 1,750 $95.49 $167,108

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 9 trades and filings

No trades in Toro Co disclosed in the last 12 months; 9 earlier trades on record.

  • Lisa C. McClain(R-MI 9):Sale (full), $1,001 - $15,000, traded June 11, 2025, filed August 13, 2025
  • Lisa C. McClain(R-MI 9):Purchase, $1,001 - $15,000, traded June 9, 2025, filed August 13, 2025
  • April McClain Delaney(D-MD 6):Sale (full), $1,001 - $15,000, traded May 28, 2025, filed June 2, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around December 3, 2026 estimated from the company's past filing pattern, not announced

  • September 3, 2026
  • June 4, 2026
  • March 5, 2026
  • December 17, 2025
  • September 4, 2025
  • June 5, 2025

Recent SEC filings

Data status

When each part of this page on Toro Co was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Toro Co in brief

What does Toro Co do?
Toro Co is a US-listed company in the agricultural & farm machinery industry. Its financial year ends in October.
What is Toro Co's stock ticker?
Toro Co trades under the ticker TTC on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Toro Co's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Toro Co reported revenue of $4.8B, 5.2% higher than a year earlier, according to its SEC filings.
What is Toro Co's free cash flow?
Toro Co's free-cash-flow margin is 15.0% of revenue over the trailing twelve months, ranking 1 of the 6 agricultural & farm machinery companies we cover.
What is Toro Co's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Toro Co's free cash flow after stock-based pay gives ~$97 per share in the base case, and ~$71–$130 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Toro Co's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Kayne Anderson Rudnick Investment Management LLC and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Toro Co buying back stock, and does it pay a dividend?
Toro Co spent $358M on share repurchases over the trailing twelve months, and its diluted share count fell 3.7% over the year.
What is Toro Co's market cap?
On November 2, 2026, Toro Co's market capitalisation was about $10.6B, with a price-to-earnings ratio of 29.2 and net debt of $787M. Market figures come from third-party market data and may be delayed.
Does Toro Co pay a dividend?
Yes: Toro Co paid $150M in dividends over the trailing twelve months, a dividend yield of 1.46% and a payout ratio of 41.3%.
How much debt does Toro Co have?
Toro Co's debt-to-equity ratio is 72.0%, from its latest balance sheet (88.5% five years earlier). The financial health section below sets out its other solvency checks.
Who are Toro Co's competitors?
In our Agricultural & Farm Machinery peer group, the companies closest to Toro Co are AGCO Corp, Alamo Group Inc, CNH Industrial N.V., Lindsay Corp and Deere & Company. The side-by-side comparison below sets their revenue, margins and growth against Toro Co's.
Are insiders buying or selling Toro Co stock?
Over the last 12 months, Toro Co's directors and officers reported 1 open-market purchases and 13 sales on Form 4. The insider trading page charts every trade.
When is Toro Co's next earnings date?
Around December 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Toro Co announces its own schedule.