Toro Co (TTC)
Gross profit margin
| Feb 2, 2024 | Oct 31, 2023 | Aug 4, 2023 | Feb 3, 2023 | Oct 31, 2022 | Jul 29, 2022 | Apr 29, 2022 | Jan 28, 2022 | Oct 31, 2021 | Jul 30, 2021 | Apr 30, 2021 | Jan 29, 2021 | Oct 31, 2020 | Jul 31, 2020 | May 1, 2020 | Jan 31, 2020 | Oct 31, 2019 | Aug 2, 2019 | May 3, 2019 | Feb 1, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 1,442,355 | 1,496,700 | 1,567,005 | 1,600,020 | 1,504,596 | 1,395,137 | 1,326,348 | 1,323,932 | 1,338,492 | 1,349,501 | 1,312,958 | 1,216,722 | 1,189,774 | 1,134,446 | 1,105,853 | 1,120,434 | 1,047,963 | 981,959 | 949,631 | 952,389 |
| Revenue (ttm) | US$ in thousands | 4,155,572 | 4,330,332 | 4,513,330 | 4,687,980 | 4,478,917 | 4,272,115 | 4,090,565 | 3,991,095 | 3,930,922 | 3,818,221 | 3,681,069 | 3,468,487 | 3,362,350 | 3,255,772 | 3,261,817 | 3,294,455 | 3,138,084 | 2,943,008 | 2,760,116 | 2,673,360 |
| Gross profit margin | 34.71% | 34.56% | 34.72% | 34.13% | 33.59% | 32.66% | 32.42% | 33.17% | 34.05% | 35.34% | 35.67% | 35.08% | 35.39% | 34.84% | 33.90% | 34.01% | 33.39% | 33.37% | 34.41% | 35.63% |
February 2, 2024 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $1,442,355K ÷ $4,155,572K
= 34.71%
The gross profit margin for Toro Co. has shown a consistent upward trend over the past eight quarters, from 32.20% in Q2 2022 to 34.64% in Q1 2024. This improvement indicates that the company has been effectively managing its production costs and pricing strategies to increase profitability on its products. The gradual increase in gross profit margin reflects the company's ability to generate more revenue after accounting for the direct costs of production. Additionally, the narrowing variation in gross profit margin over time suggests that Toro Co. has been able to achieve greater stability and efficiency in its operations. Overall, the steady improvement in gross profit margin is a positive indicator of the company's financial health and operational performance.