Toro Co (TTC)
Debt-to-assets ratio
| Oct 31, 2024 | Aug 2, 2024 | May 3, 2024 | Feb 2, 2024 | Oct 31, 2023 | Aug 4, 2023 | May 5, 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 911,800 | 966,600 | 1,003,300 | 1,179,800 | 1,031,500 | 1,061,300 | 1,041,200 | 1,091,000 | 990,800 | 990,616 | 990,970 | 991,354 | 691,242 | 587,345 | 591,496 | 691,356 | 691,250 | 782,036 | 790,908 | 601,016 |
| Total assets | US$ in thousands | 3,582,800 | 3,731,400 | 3,852,200 | 3,801,100 | 3,644,300 | 3,585,900 | 3,741,400 | 3,654,900 | 3,556,000 | 3,439,950 | 3,479,310 | 3,253,040 | 2,936,140 | 2,968,050 | 2,996,110 | 2,875,140 | 2,853,230 | 2,813,860 | 2,811,480 | 2,491,610 |
| Debt-to-assets ratio | 0.25 | 0.26 | 0.26 | 0.31 | 0.28 | 0.30 | 0.28 | 0.30 | 0.28 | 0.29 | 0.28 | 0.30 | 0.24 | 0.20 | 0.20 | 0.24 | 0.24 | 0.28 | 0.28 | 0.24 |
October 31, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $911,800K ÷ $3,582,800K
= 0.25
The debt-to-assets ratio of Toro Co has fluctuated over the recent quarters, ranging from 0.20 to 0.31. A lower debt-to-assets ratio indicates lower financial leverage and less reliance on debt to finance the company's operations.
The trend shows some stability around the 0.28 level, with occasional decreases to 0.24 or 0.20, indicating periods of lower debt relative to total assets. However, there was a notable increase to 0.31 in February 2024, suggesting a higher proportion of debt compared to assets at that time.
Overall, Toro Co's debt-to-assets ratio has remained within a relatively moderate range, balancing the use of debt as a financing source while maintaining a solid asset base. It will be important to monitor future trends to assess the company's debt management and financial health.