Toro Co (TTC)
Gross profit margin
| Oct 31, 2023 | Oct 31, 2022 | Oct 31, 2021 | Oct 31, 2020 | Oct 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 1,577,600 | 1,504,600 | 1,338,490 | 1,189,770 | 1,047,960 |
| Revenue | US$ in thousands | 4,494,500 | 4,478,920 | 3,930,920 | 3,347,690 | 3,110,320 |
| Gross profit margin | 35.10% | 33.59% | 34.05% | 35.54% | 33.69% |
October 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $1,577,600K ÷ $4,494,500K
= 35.10%
The gross profit margin of Toro Co. has shown some fluctuations over the past five years. In the most recent fiscal year ending on October 31, 2023, the gross profit margin increased to 34.65% from 33.33% in the previous year. However, it was slightly lower compared to the 35.21% reported in October 2020. The gross profit margin represents the percentage of revenue that exceeds the cost of goods sold, indicating the company's ability to generate profits from its core operations. The increase in gross profit margin in 2023 suggests improved efficiency in production and/or pricing strategies, which may have positively impacted profitability. Further analysis of cost structure and pricing strategies could provide insights into the factors driving these changes in the gross profit margin for Toro Co.