Companies / Toro COMPANY FILINGS
Toro TTC In fiscal 2025, The Toro Company designed, manufactured and sold turf maintenance and irrigation products, construction equipment, and residential yard and snow products through its Professional and Residential segments.
Business description: FY2025 CIK 0000737758 Source: SEC EDGAR
Overview 10-K summary Balance sheet Original filings
Annual reports 5
Report coverage 2021–2025
Financial statement focus Balance sheet READ THE FILING
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Choose a fiscal year FY2025 Fiscal 2025 consolidated net sales declined 1.6% to US$4,510.4 million, while net earnings fell 24.5% to US$316.1 million compared with fiscal 2024.
Source: 2025 Professional segment sales rose 1.9% in fiscal 2025, while Residential segment sales fell 14.0% compared with fiscal 2024. Management attributed Professional growth primarily to higher golf, grounds and underground construction shipments and higher realized selling prices, partly offset by prior-year divestitures and lower specialty construction shipments.
Source: 2025 View full 10-K summary 2025 Hide full 10-K summary 2025 Signals describe observations in the selected filing, not forecasts or investment ratings. Risk disclosures do not establish that a loss occurred.
Negative signals Spartan Toro recorded a US$81.1 million non-cash reduction in the recorded value of the Spartan trade name (an impairment charge) in the third quarter of fiscal 2025. Management linked lower expected Spartan cash flows primarily to declining demand for products serving homeowners who prefer professional-grade equipment.
Source: 2025 Cost exposure Toro reported that it had incurred additional tariff costs in its fiscal 2025 discussion. Separately, it warned that the share of sales remaining after product costs (gross margin) could decline if supplier pricing protections, productivity initiatives or product price increases did not fully offset higher commodity and component costs.
Source: 2025 Business context Tornado acquisition closed after year-end On October 6, 2025, Toro agreed to acquire hydrovac excavation equipment manufacturer Tornado Infrastructure Equipment for CAD 279.3 million in cash (Canadian dollars). It was still pending at the October 31 fiscal year-end. The same filing reported that the acquisition subsequently closed on December 8, 2025, before the December 17 filing date; it was completed after fiscal 2025, rather than during that fiscal year.
Source: 2025 Business in fiscal 2025 In fiscal 2025, The Toro Company designed, manufactured and sold turf maintenance and irrigation products, construction equipment, and residential yard and snow products through its Professional and Residential segments.
Source: 2025
5-year changes FY2021–FY2025 These changes use selected original filing passages and nearby context from the stated five fiscal years. They are not an exhaustive review of all five reports and exclude later-year filings.
Sales mix Professional products accounted for a larger share of Toro's consolidated net sales at the end of the period: 74.0% in fiscal 2021, 76.0% in 2022, 80.7% in 2023, 77.6% in 2024 and 80.3% in 2025. The shift was not an uninterrupted annual increase; the share fell in fiscal 2024 before rising again.
Source: 2021 , 2022 , 2023 , 2024 , 2025 Spartan Toro acquired Intimidator, maker of Spartan commercial-grade zero-turn mowers, in January 2022. In the third quarter of fiscal 2023, it recorded asset write-downs of $18.0 million for the Spartan trade name and $133.3 million for Intimidator goodwill—the part of the acquisition price above the estimated fair value of net assets acquired. In the third quarter of fiscal 2025, a further $81.1 million impairment fully wrote off the Spartan trade name. These were non-cash reductions in recorded asset values, not additional acquisition payments.
Source: 2022 , 2023 , 2025 Productivity Toro launched its AMP productivity initiative in the first quarter of fiscal 2024. Management reported $3.8 million of cost savings as of October 31, 2024, compared with $78.5 million of cumulative program savings by the fourth quarter of fiscal 2025. These are reported savings to the stated dates, not separate annual savings amounts or benefits after deducting program charges.
Source: 2024 , 2025 Request a correction FINANCIAL STATEMENTS
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Annual reports & SEC 10-K filings SEC EDGAR 5 reports in this collection
Report yearAll years 2025 2024 2023 2022 2021 Dates describe the filing metadata. Figures and reporting periods should be checked against the original statement. SEC links open in a new tab.
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