The Toro Company
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.51B | $4.58B | $4.55B | $4.51B | $3.96B | $3.38B | $3.14B | $2.62B |
| Cost of Revenue | $3.01B | $3.03B | $2.98B | $3.01B | $2.62B | $2.19B | $2.09B | $1.68B |
| Gross Profit | $1.50B | $1.55B | $1.58B | $1.50B | $1.34B | $1.19B | $1.05B | $941.0M |
| Gross Margin | 33.4% | 33.8% | 34.6% | 33.3% | 33.8% | 35.2% | 33.4% | 35.9% |
| Operating Expenses | ||||||||
| Research & Development | $162.3M | $173.1M | $173.9M | $155.6M | $141.0M | $124.1M | $109.1M | $83.5M |
| SG&A Expense | $1.01B | $1.02B | $995.6M | $928.9M | $820.2M | $763.4M | $722.9M | $567.9M |
| Operating Income | $409.9M | $533.3M | $430.7M | $575.7M | $518.3M | $426.4M | $325.0M | $373.1M |
| Operating Margin | 9.1% | 11.6% | 9.5% | 12.8% | 13.1% | 12.6% | 10.4% | 14.2% |
| Interest Expense | — | — | $58.7M | $35.7M | $28.7M | $33.2M | $28.8M | $19.1M |
| Pretax Income | $377.6M | $512.8M | $400.5M | $552.5M | $499.8M | $407.1M | $322.1M | $372.4M |
| Income Tax Expense | $61.5M | $93.9M | $70.8M | $109.2M | $89.9M | $77.4M | $48.2M | $100.5M |
| Net Income | $316.1M | $418.9M | $329.7M | $443.3M | $409.9M | $329.7M | $274.0M | $271.9M |
| Net Margin | 7.0% | 9.1% | 7.2% | 9.8% | 10.4% | 9.8% | 8.7% | 10.4% |
| EPS (Basic) | $3.18 | $4.04 | $3.16 | $4.23 | $3.82 | $3.06 | $2.57 | $2.56 |
| EPS (Diluted) | $3.17 | $4.01 | $3.13 | $4.20 | $3.78 | $3.03 | $2.53 | $2.50 |
| Shares Outstanding (Basic) | 99.5M | 103.8M | 104.4M | 104.8M | 107.3M | 107.7M | 106.8M | 106.4M |
| Shares Outstanding (Diluted) | 99.8M | 104.4M | 105.3M | 105.6M | 108.5M | 108.7M | 108.1M | 108.7M |
| Dividends Per Share | $1.52 | $1.44 | $1.36 | $1.20 | $1.05 | $1.00 | $0.90 | $0.80 |