Toro Co (NYSE: TTC) is an outdoor equipment company that designs, manufactures, markets, and sells professional turf maintenance, landscape, irrigation, snow and ice management, underground construction, and residential outdoor power equipment. Revenue comes from transactional product sales across two segments, Professional and Residential, distributed through more than 150 distributors, equipment dealers, mass retailers, hardware retailers, home centers, and direct-to-end-user channels. Consolidated net sales were $4,510.4 million in fiscal 2025 (fiscal year ended October 31, 2025), down 1.6 percent from $4,583.8 million in fiscal 2024, with international net sales of $878.3 million representing roughly 19 percent of total fiscal 2025 revenue. The company manufactures in the U.S., Mexico, the United Kingdom, Italy, Romania, Germany, Poland, and China, and sells in more than 125 countries. Toro is the only company the filing identifies as offering both equipment and irrigation products for the golf market, where it describes itself as a market leader in both categories.

Revenue model

Transactional product sales of gas, electric, and battery-powered outdoor equipment and irrigation systems, sold through distributors, dealers, retailers, and direct channels. The company also accrues sales promotion and incentive costs, including rebate programs, with an accrual of $168.6 million as of October 31, 2025.

Products and services

Professional segment: turf maintenance equipment (riding and walking mowers, autonomous mowing solutions) under the Toro and Ventrac brands for golf, sports fields, and municipalities; landscape and lighting products under Unique Lighting Systems; irrigation systems under Toro and Irritrol brands (rotors, valves, drip tubing, sensors, controllers); rental, specialty, and underground construction equipment; snow and ice management equipment. Residential segment: walk-behind and riding lawn mowers, zero-turn mowers, single-stage and two-stage snow throwers, battery and electric power shovels, and yard tools including grass trimmers, hedge trimmers, blowers, chainsaws, and edgers under the Toro brand.

Customers and end markets

Professional segment customers include golf courses, sports fields, municipalities, landscape contractors, underground utility contractors, rental companies, and government customers. Residential segment customers are homeowners purchasing through mass retailers, hardware retailers, home centers, and online channels. Order backlog was $0.8 billion as of October 31, 2025, down from $1.2 billion as of October 31, 2024.

Value-chain role

Vertically integrated manufacturer and brand owner that designs, manufactures, and markets finished outdoor power equipment and irrigation systems. Relies on third-party suppliers for certain components and manages inventory production levels against dealer and retail demand forecasts. Distributes through a multi-tier channel of distributors and dealers who provide after-purchase service and support.

Geographic exposure

Products sold in more than 125 countries. Manufacturing in the U.S., Mexico, United Kingdom, Italy, Romania, Germany, Poland, and China. International net sales were $878.3 million in fiscal 2025 compared to $923.0 million in fiscal 2024. Sales offices maintained in the U.S., United Kingdom, Australia, Japan, and China, among other locations.

Source: SEC 10-K, filed 2025-12-17

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