Toro is a global manufacturer and distributor whose fiscal year ends October 31. The company reported $4,583.8 million in fiscal-2024 net sales, with professional products accounting for most sales and residential products showing stronger year-over-year growth.
Key Toro Statistics
The most useful headline figures cover Toro’s scale, financial results, markets, workforce and capital structure:
- $4,583.8 million in consolidated net sales was reported by The Toro Company for fiscal 2024, ended October 31, in the global company.
- $418.9 million in GAAP net earnings was reported for Toro in fiscal 2024, compared with $329.7 million in fiscal 2023.
- 77.6% of fiscal-2024 consolidated sales came from the professional segment, based on Toro’s reportable-segment definition.
- $998.3 million of fiscal-2024 sales came from the residential segment, representing 21.8% of consolidated sales.
- Professional-segment sales declined 3.2% from fiscal 2023 in Toro’s fiscal-2024 comparison.
- Residential-segment sales increased 16.9% from fiscal 2023 in Toro’s fiscal-2024 comparison.
- $4,134.2 million of fiscal-2024 revenue came from equipment, while irrigation revenue totaled $449.6 million.
- $3,660.8 million of fiscal-2024 revenue came from the United States, compared with $923.0 million internationally.
- International sales declined 2.6% from fiscal 2023 in Toro’s fiscal-2024 comparison.
- More than 125 countries were served by Toro’s distribution, dealer and retailer network, according to the company’s investor-relations description accessed in 2026.
- $569.9 million of operating cash flow was generated by the consolidated company in fiscal 2024.
- $470.7 million of free cash flow was reported for fiscal 2024 under Toro’s non-GAAP definition.
- 11,108 employees worked for Toro on October 31, 2024, while the fiscal-year average was 11,464 employees.
- Approximately 10.5% of Toro employees were represented by a union on October 31, 2024, under collective bargaining agreements.
- $921.8 million of long-term debt was outstanding at October 31, 2024.
- 2,777,534 common shares were repurchased by Toro during fiscal 2024 at a reported cost of $245.5 million.
Contents
- Key Toro Statistics
- Toro Sales, Earnings and Three-Year Trends
- Toro Professional and Residential Segment Statistics
- Toro Equipment, Irrigation and Geographic Sales Data
- Toro Cash Flow, Investment and Liquidity Statistics
- Toro Workforce, Operations and Sustainability Statistics
- Toro Financing, Debt and Shareholder Statistics
Toro Sales, Earnings and Three-Year Trends
The Toro Company’s consolidated GAAP sales remained above $4.5 billion in each fiscal year from 2022 through 2024. Fiscal 2024 sales rose 0.7% from fiscal 2023, while net earnings rose 27.1% year over year.
| Fiscal year ended October 31 | Net sales (USD millions) | Other reported measure |
|---|---|---|
| 2022 | $4,514.7 | — |
| 2023 | $4,553.2 | Net earnings: $329.7 million |
| 2024 | $4,583.8 | Net earnings: $418.9 million; diluted EPS: $4.01 |
Source: The Toro Company Form 10-K for the fiscal year ended October 31, 2024.
Fiscal-2024 gross profit was $1,549.3 million, equal to a 33.8% gross margin. Operating earnings were $533.3 million, and diluted GAAP net earnings per share were $4.01 for Toro common stock.
The three-year sales figures are consolidated GAAP net sales, not segment totals or an estimate of market share. Segment, product-type and geographic figures below are overlapping classifications of the same consolidated revenue and should not be added together as extra sales.
Toro Professional and Residential Segment Statistics
Toro reports professional and residential activities as separate reportable segments. In fiscal 2024, professional sales were $3,556.9 million, or 77.6% of consolidated sales, while residential sales were $998.3 million, or 21.8%.
| Fiscal-2024 segment | Sales | Share of consolidated sales | Earnings or margin |
|---|---|---|---|
| Professional | $3,556.9 million | 77.6% | $638.9 million; 18.0% margin |
| Residential | $998.3 million | 21.8% | $78.4 million; 7.9% margin |
| Other activities | $28.6 million | Not stated | $204.5 million operating loss |
Source: The Toro Company Form 10-K for the fiscal year ended October 31, 2024.
Professional-segment sales declined 3.2% from fiscal 2023, but professional-segment earnings increased 25.5% to $638.9 million. Residential sales increased 16.9% from fiscal 2023, and residential-segment earnings were $78.4 million.
The other-activities figure is a domestic distribution-company measure net of intersegment sales. Its $204.5 million operating loss is not a segment profit measure and should not be compared directly with the two reportable-segment earnings figures.
Toro Equipment, Irrigation and Geographic Sales Data
Toro’s fiscal-2024 revenue can be viewed by product type, segment and geography. Equipment revenue totaled $4,134.2 million and irrigation revenue totaled $449.6 million, while the United States supplied $3,660.8 million of consolidated revenue.
| Fiscal-2024 category | Revenue (USD millions) | Scope |
|---|---|---|
| Equipment | $4,134.2 | Consolidated company |
| Irrigation | $449.6 | Consolidated company |
| U.S. revenue | $3,660.8 | United States |
| International revenue | $923.0 | Countries outside the United States |
Source: The Toro Company Form 10-K for the fiscal year ended October 31, 2024.
Within the product and segment breakdown, professional equipment revenue was $3,133.5 million and residential equipment revenue was $981.1 million. Professional irrigation revenue was $423.4 million, compared with $17.2 million for residential irrigation.
International revenue declined 2.6% from fiscal 2023. International professional sales were $790.5 million and international residential sales were $132.5 million in fiscal 2024.
Toro says its distributor, dealer and retailer network reaches more than 125 countries. A company presentation counted more than 8,000 mass-retailer locations for the residential channel and more than 4,000 independent dealers globally as of April 2022; those historical counts were sourced from retailer websites and are rounded minimums.
The same presentation reported a 5.5% residential net-sales compound annual growth rate over the five-year period shown. Its period endpoints are presentation-defined, so this historical CAGR is not a fiscal-2024 forecast or an independently calculated rate.
Sources: Investor Information | The Toro Company and The Toro Company Investor Presentation.
Toro Cash Flow, Investment and Liquidity Statistics
Toro generated $569.9 million of GAAP operating cash flow in fiscal 2024, compared with $306.8 million in fiscal 2023. The fiscal-2024 cash-flow statement also reported $59.7 million used by investing activities and $505.1 million used by financing activities.
Capital expenditures were $103.5 million in fiscal 2024 for purchases of property, plant and equipment. Toro reported $470.7 million of free cash flow, defined as operating cash flow less capital expenditures net of insurance proceeds.
Free-cash-flow conversion was 112.4% of net earnings under Toro’s company-defined non-GAAP ratio. Free cash flow and free-cash-flow conversion are not substitutes for the GAAP net earnings and operating-cash-flow measures.
At October 31, 2024, available liquidity was $1,096.8 million, defined by the filing as cash plus revolving-credit availability. Cash and cash equivalents were $199.5 million, including $136.0 million held by foreign subsidiaries.
Source: The Toro Company Form 10-K for the fiscal year ended October 31, 2024.
Toro Workforce, Operations and Sustainability Statistics
Toro employed an average of 11,464 people during fiscal 2024 and had 11,108 employees on October 31, 2024. The average is a period measure, while the October figure is a point-in-time global headcount.
Approximately 10.5% of employees were represented by a union on October 31, 2024. Toro describes this as the approximate share covered by collective bargaining agreements.
The fiscal-2024 sustainability framework had three pillars: Product, People and Process. These are framework categories rather than quantified impact outcomes.
Toro also launched a nationwide battery recycling program in the United States during fiscal 2024 with Call2Recycle. The sustainability release does not quantify batteries collected or environmental reductions from that program.
Source: The Toro Company Form 10-K for the fiscal year ended October 31, 2024 and The Toro Company Releases 2024 Sustainability Impact Report.
Toro Financing, Debt and Shareholder Statistics
Toro reported $921.8 million of long-term debt at October 31, 2024. Contractual principal payments scheduled after that date totaled $925.0 million, including $270.0 million in fiscal 2027 and $280.0 million in fiscal 2029.
| Financing measure | Amount or term | Date or scope |
|---|---|---|
| Revolving-credit facility capacity | Up to $900.0 million | As of October 31, 2024; maturity October 2, 2029 |
| Unused revolving-credit availability | $897.3 million | October 31, 2024 |
| Long-term debt | $921.8 million | October 31, 2024 |
| Scheduled principal payments | $925.0 million | After October 31, 2024; contractual schedule |
Source: The Toro Company Form 10-K for the fiscal year ended October 31, 2024.
The scheduled payments are a contractual maturity schedule assuming stated maturity dates and no prepayments; they are not a forecast of refinancing. The revolving facility had $897.3 million unused after standby-letter-of-credit usage, so availability was slightly below its $900.0 million capacity.
Toro repurchased 2,777,534 board-authorized common shares during fiscal 2024 for a reported cost of $245.5 million. At October 31, 2024, 8,171,957 shares remained available under the repurchase program, which is an authorization balance rather than a commitment to repurchase.
Dealer and distributor financing under the Red Iron arrangement totaled $2,613.3 million of net receivables financed during fiscal 2024. Red Iron receivables outstanding were $979.6 million at October 31, 2024.
Source: The Toro Company Form 10-K for the fiscal year ended October 31, 2024.