The Toro Company (TTC) 株式分析

企業概要

The Toro Company is a leading manufacturer and distributor of professional turf maintenance equipment and services, serving both the professional landscaping sector and the residential market through its dedicated segments. This entity operates within the Industrials sector, specifically classified under the Tools & Accessories industry, which implies a focus on manufacturing durable goods essential for groundskeeping operations. The company commands a substantial market capitalization of 95 億ドル (9.50B USD) and generates an annual revenue of 45.5 億ドル (4.55B USD) from its operations. Supporting this significant market presence, the organization employs a workforce of 9,227 名 (9,227 employees) globally. These valuation and revenue figures indicate that the company holds a substantial position in the turf care market, reflecting established brand recognition and a robust distribution network that supports its diversified product portfolio ranging from riding mowers to specialized aeration equipment.

財務健全性

The company reported a total revenue of 45.5 億ドル (4.55B USD) over the trailing twelve months, with a corresponding net income of 3.312 億ドル (331.20M USD) and an EBITDA of 6.43 億ドル (643.00M USD). The substantial gap between the revenue figure and the net income reveals a cost structure where operating expenses, including cost of goods sold and administrative overhead, consume approximately 7.3% of total sales to arrive at the final profit. The business generated free cash flow of 5.7984 億ドル (579.84M USD), which indicates a strong capacity for financial flexibility, allowing the firm to fund capital expenditures, service debt, or return capital to shareholders without relying on external financing. Profitability analysis shows a gross margin of 33.2%, an operating margin of 9.8%, and a net profit margin of 7.3%, suggesting that the company maintains healthy pricing power while managing significant operational costs to deliver value to shareholders. On the balance sheet, the company holds cash reserves of 1.89 億ドル (189.00M USD) against total debt of 12 億ドル (1.20B USD), resulting in a debt-to-equity ratio of 84.22, which suggests a leveraged capital structure typical for capital-intensive manufacturing industries. Liquidity is supported by a current ratio of 1.69, indicating that the company possesses sufficient current assets to cover its short-term liabilities comfortably. Additionally, the return on equity stands at 22.9% while the return on assets is 8.4%, metrics that collectively reveal highly effective management in generating returns on the capital employed to run the business.

バリュエーション評価

Valuation metrics for The Toro Company show a trailing P/E ratio of 29.18 and a forward P/E ratio of 19.18, implying that the market expects a significant expansion in earnings growth that would bring the multiple down from current levels. The price-to-book ratio is recorded at 6.66, indicating that the stock trades at a substantial premium over its book value, reflecting investor confidence in the company's intangible assets and future cash generation capabilities. Alternative valuation measures include a price-to-sales ratio of 2.09 and an EV/EBITDA of 16.26, suggesting that the company is valued at a premium relative to its sales and enterprise value relative to earnings before interest, taxes, depreciation, and amortization. In terms of trading range, the stock's 52-week high is 105.19 ドル (105.19 USD) and the 52-week low is 62.34 ドル (62.34 USD), with the current price position situated within this historical band relative to these extremes. The beta value of 0.81 indicates that the stock exhibits lower volatility than the broader market, suggesting that price movements are generally less sensitive to macroeconomic fluctuations compared to the overall market index.

Growth & Income

Revenue growth for the trailing twelve months was 4.2%, while earnings growth significantly outpaced this figure at 32.7% year over year, implying that the company is benefiting from margin expansion or one-time cost savings rather than just top-line volume increases. As a consistent dividend payer, the company offers a dividend yield of 1.6% with a payout ratio of 45.8%, indicating a sustainable distribution policy that returns nearly half of the earnings to shareholders without compromising capital needs. The payout ratio of 45.8% is well below the 100% threshold, suggesting that the dividend is covered comfortably by current earnings and leaves ample room for reinvestment or special dividends if conditions warrant. Overall, the company presents a profile combining moderate revenue expansion with accelerated earnings growth and a stable income stream via dividends, positioning it as a balanced option within the industrials sector.