Toro Co (TTC)
Debt-to-equity ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 1,179,800 | 1,031,500 | 1,061,310 | 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 | 620,899 | 620,804 | 721,079 | 312,551 |
| Total stockholders’ equity | US$ in thousands | 1,547,900 | 1,510,900 | 1,477,080 | 1,444,200 | 1,351,700 | 1,286,600 | 1,223,520 | 1,119,550 | 1,151,130 | 1,237,180 | 1,229,420 | 1,179,720 | 1,114,830 | 1,054,030 | 984,950 | 912,050 | 859,578 | 843,822 | 805,277 | 694,397 |
| Debt-to-equity ratio | 0.76 | 0.68 | 0.72 | 0.76 | 0.73 | 0.77 | 0.81 | 0.89 | 0.60 | 0.47 | 0.48 | 0.59 | 0.62 | 0.74 | 0.80 | 0.66 | 0.72 | 0.74 | 0.90 | 0.45 |
February 2, 2024 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $1,179,800K ÷ $1,547,900K
= 0.76
The debt-to-equity ratio for Toro Co. has fluctuated over the past eight quarters. Looking at the trend, we observe a general downward trend in the ratio from Q2 2022 to Q2 2023, indicating a decreasing reliance on debt financing relative to equity. This trend reversed slightly in Q4 2023 before the ratio decreased again in Q1 2024.
The lowest point in the ratio was observed in Q2 2023 at 0.67, suggesting a relatively lower level of debt compared to equity at that time. On the other hand, the highest point in the ratio was noted in Q2 2022 at 0.89, indicating a higher proportion of debt relative to equity.
Overall, the decreasing trend in the debt-to-equity ratio signals a potential improvement in the company's financial leverage and a shift towards a more balanced capital structure. It is essential to monitor this ratio over time to assess Toro Co.'s ongoing funding strategy and financial health.