Toro Co (TTC)
Debt-to-equity ratio
| Oct 31, 2024 | Oct 31, 2023 | Oct 31, 2022 | Oct 31, 2021 | Oct 31, 2020 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 911,800 | 1,031,500 | 990,800 | 691,242 | 691,250 |
| Total stockholders’ equity | US$ in thousands | 1,551,900 | 1,510,900 | 1,351,700 | 1,151,130 | 1,114,830 |
| Debt-to-equity ratio | 0.59 | 0.68 | 0.73 | 0.60 | 0.62 |
October 31, 2024 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $911,800K ÷ $1,551,900K
= 0.59
The debt-to-equity ratio of Toro Co has exhibited some fluctuations over the past five years. In 2024, the ratio decreased to 0.59 from 0.68 in 2023, indicating a lower level of debt relative to equity. This decline suggests that the company may have reduced its reliance on debt financing in the most recent fiscal year.
Comparing the current ratio to the ratios of the preceding years, we observe a general trend of fluctuation with 2022 showing the highest ratio of 0.73 and 2021 the second-highest at 0.60. This variability may indicate changes in the company's capital structure or financial management decisions over the years.
Overall, the debt-to-equity ratio of Toro Co has been relatively stable around the range of 0.59 to 0.73 over the analyzed period, with the most recent year showing a favorable decrease. This ratio provides insights into the company's capital structure and financial leverage, highlighting its ability to meet obligations and manage debt levels in relation to shareholder equity.