FirmAtlas
Company handbook · TOL · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
TOL · CIK 794170 · LATEST FILING: 10-Q JUL '26 · FILED AUG 28, 2026
TOLL BROTHERS, INC.
$133.70
−0.24 (−0.18%)
Close, Oct 16, 2026 · 52-week $123–168
Toll Brothers builds and sells luxury homes in the U.S.: single-family homes, townhomes and condos, often in planned communities. It also offers mortgages and title services, and develops apartment buildings.
Business
- ProductsHome Building 99% · Land 1% · Management Fee 0% (FY25)
- CustomersHigher-income home buyers, including move-up, empty-nester and active-adult buyers; sold by its own sales staff and through outside real estate agents
- Cash useFY24–FY25: buybacks $1.3B · dividends $190M · capex $160M
Reinvested 8% of operating cash flow · returned 75% of free cash flow
Last fiscal year
TOLL BROTHERS, INC. reported revenue of $11.0B for the year ended Oct 31, 2025 (FY25), up 1.1% from FY24. Net income was $1.3B, operating cash flow $1.1B and free cash flow $1.0B. Source: 10-K filed Dec 19, 2025.
Market cap
$12.7B
P/E
10.6
EV/EBITDA
6.3x
P/B
1.5
Div yield
0.77%
ROIC
20.5%
Revenue 1Y
1.1%/yr
EPS 1Y
−10.1%/yr
Shares 1Y
−5%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOKarl K. Mistry
HQFort Washington, PA
AuditorErnst & Young LLP
Year endsOctober
Revenue by segment · FY25
Home Building99%
Land1%
Management Fee0%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
16.7%
17.9%
23.1%
−0.5%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$1.6B deployed
Capex
$160M
9.8%
Dividends
$190M
11.7%
Buybacks
$1.3B
78.5%
Operating cash flow over the period: $2.1B. Total debt changed by $0M.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · FY25 = year ended Oct 31, 2025 · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jul '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
10,847
10,967+1.1%
10,759
YoY
+1.1%
Gross profit
3,022
2,754−8.9%
2,555
Gross margin
27.9%
25.1%−2.8 pp
—
Operating income
2,040
1,721−15.7%
1,489
Operating margin
18.8%
15.7%−3.1 pp
—
EBITDA
2,121
1,803−15.0%
—
EBITDA margin
19.6%
16.4%−3.1 pp
—
Net income
1,571
1,346−14.3%
1,198
YoY
−14.3%
Net margin
14.5%
12.3%−2.2 pp
—
EPS (diluted, $)
15.01
13.49−10.1%
12.59
YoY
−10.1%
Balance sheet
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
1,010
1,112+10.1%
1,192
Net income
1,571
1,346−14.3%
—
Depreciation & amortization
81
82+1.1%
—
Stock-based compensation
30
31+4.3%
—
Working capital & other
(672)
(347)n/m
—
Cash from investing
(168)
(310)n/m
—
Capex
(74)
(86)n/m
—
PP&E sold
1
0−100.0%
—
Other investing
(95)
(224)n/m
—
Cash from financing
(816)
(834)n/m
—
Debt raised
0
498n/m
—
Debt repaid
0
(350)n/m
—
Dividends
(93)
(97)n/m
—
Buybacks
(627)
(651)n/m
—
Other financing
(96)
(234)n/m
—
Net change in cash
26
(31)−220.7%
—
Free cash flow (OCF − capex)
937
1,026+9.6%
1,090
Where the cash went
Operating cash flow
1,010
1,112+10.1%
1,192
Reinvested in the business
74
86+17.0%
—
% of operating cash flow
7.3%
7.7%
Capex
74
86+17.0%
102
Free cash flow
937
1,026+9.6%
1,090
YoY
+9.6%
Returned to shareholders
720
748+3.8%
—
% of free cash flow
76.9%
72.9%
Dividends
93
97+3.9%
—
Buybacks
627
651+3.8%
—
FCF conversion (FCF ÷ net income)
59.6%
76.2%+16.6 pp
—
Buyback yield
4.3%
5.1%+0.8 pp
—
Income
Oct '25
Jan '26
Apr '26
Jul '26
Revenue
3,423
2,146
2,531
2,659
vs year-ago quarter
Gross profit
848
477
605
625
Gross margin
24.8%
22.2%
23.9%
23.5%
Operating income
564
219
347
359
Net income
447
211
261
280
vs year-ago quarter
Net margin
13.0%
9.8%
10.3%
10.5%
EPS (diluted, $)
4.71
2.19
2.72
2.97
vs year-ago quarter
Balance sheet
Oct '25
Jan '26
Apr '26
Jul '26
Total assets
14,520
14,432
14,533
14,686
Cash & equivalents
1,339
1,277
1,172
1,130
Shareholders’ equity
8,271
8,409
8,475
8,531
Cash flow
Oct '25
Jan '26
Apr '26
Jul '26
Operating cash flow
800
7
134
250
Capex
28
19
24
31
Free cash flow
772
(12)
110
220
vs year-ago quarter