TTC
The Toro Company
Is TTC Halal?
Turf, irrigation, landscaping and outdoor equipment — generally permissible activity whose known ratios pass, with finance-affiliate and income classification incomplete.
What You Should Know
The Toro Company's May 1, 2026 Form 10-Q reports assets of $3,706.6 million, debt and leases of $1,137.0 million, cash of $180.4 million, receivables of $575.1 million and quarterly net sales of $1,424.7 million. Debt/assets is 30.67%, liquidity/assets is 4.87% and receivables plus cash/assets is 20.37%; the known asset-based ratios pass. Other income, net combines interest with foreign exchange and other items, and Toro's Red Iron Acceptance finance affiliate requires qualitative review.
⚠️ Concerns
- •Known asset-based ratios pass, but gross interest income is unavailable
- •Red Iron Acceptance dealer inventory-financing joint venture
- •Golf, landscaping, construction, agriculture and residential end markets
- •Weather and seasonal demand affect earnings
- •No universal prohibited-activity numerator is disclosed
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-05-01; calculated 2026-07-15.
1,137 / 3,706.6
180.4 / 3,706.6
755.5 / 3,706.6
- Financial
- Incomplete
- Overall
- Incomplete
Debt/assets is 30.67%, liquidity/assets is 4.87% and receivables-plus-cash/assets is 20.37%; the known FTSE ratios pass, but gross interest income is unavailable.
- Financial
- Pass
- Overall
- Incomplete
Known asset-based ratios are below the examined MSCI limits; gross interest income and finance-affiliate activity remain incomplete.
- Financial
- Pass
- Overall
- Incomplete
Known debt and liquidity ratios pass the examined Malaysia limits; this is not an official classification and activity/income inputs remain incomplete.
- Financial
- Not calculated
- Overall
- Incomplete
A licensed historical market-cap series is not stored; the total-assets ratios are shown separately.
Business-activity disclosure
Toro manufactures turf-maintenance, landscaping, irrigation, snow, construction and outdoor-power equipment. The core activity is generally permissible, while its Red Iron Acceptance financing joint venture and customer/end-use mix require qualitative review.
Limitation: The filing does not provide a universal prohibited-revenue numerator and combines interest income with other income, so no percentage is invented.
Purification
Toro's other income combines interest with other items; no scholar-specific purification instruction or universal prohibited-revenue numerator is provided.
Inputs, assumptions and primary sources
- Amounts are USD millions from Toro's May 1, 2026 Form 10-Q for the three months ended that date.
- Debt combines $1,016.8 million of long-term debt with $120.2 million of current and noncurrent operating-lease liabilities; current borrowings are nil.
- Cash is $180.4 million and receivables are $575.1 million.
- Quarterly net sales are $1,424.7 million. Other income, net combines foreign exchange, interest and other items, so no gross interest-income numerator is invented.
- Turf, irrigation, landscaping and outdoor-equipment manufacturing is generally permissible, while Red Iron Acceptance finance-affiliate exposure and customer/end-use allocation remain qualitative.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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