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Toll Brothers Inc.

TOL Consumer Cyclical Residential Construction

Toll Brothers Inc.’s revenue for fiscal 2025 (year ended October 2025) was $11.0 billion, up 1.11% from fiscal 2024. In the quarter to July 2026, revenue fell 9.72%, EPS fell 20.7%, free cash flow fell 36.3% and total debt fell 6.02%, each against the same quarter a year earlier. Dividend growth for ten consecutive years.

133.13 1.70 −1.26%
Market cap
$12.4B
P/E
10.6×
Fwd P/E
10.8×
Dividend yield
0.77%
F-score
4/9
Altman Z
4.06
Beneish M
−2.35
Dividend safety
92/100

Insider Decisions trades per month

Total sells 26.05
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — 1 2 1 1 — 2 — — 1 —
Insider Ownership 2.69%

Capital & Financial Ratios $m

Market Cap 12,420.00
Revenue 10,759.04
Net Income 1,198.38
Free Cash Flow 1,090.23
Net Debt 1,707.59
Current Ratio 4.53 (at or above 1.5: strong)
Debt/Equity 0.32 (at or below 0.5: strong)
P/E ratio 10.62
Fwd P/E 10.80
P/S ratio 1.16
P/B ratio 1.46
Past 5Y EPS Growth 31.74% (at or above 15%: strong)
This Y EPS Growth (5.72%) (below 0%: weak)
Next Y EPS Growth 8.67%
Next Y revenue growth (1.17%) (below 0%: weak)
Next 5Y EPS Growth 4.77%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 59.64%
10-year low 10-year high
P/S against its own 10 years 74.74%
10-year low 10-year high
P/B against its own 10 years 66.51%
10-year low 10-year high
EV/Sales against its own 10 years 52.73%
10-year low 10-year high
EV/FCF against its own 10 years 47.43%
10-year low 10-year high

Dividends

Payout Ratio 0.08
Annual Dividend Rate 1.03
Annual Dividend Yield 0.77%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.03
0.25
0.26
0.26
0.26
2025 0.98
0.23
0.25
0.25
0.25
2024 0.90
0.21
0.23
0.23
0.23
2023 0.83
0.20
0.21
0.21
0.21
2022 0.77
0.17
0.20
0.20
0.20
2021 0.62
0.11
0.17
0.17
0.17
2020 0.44
0.11
0.11
0.11
0.11
2019 0.44
0.11
0.11
0.11
0.11
2018 0.41
0.08
0.11
0.11
0.11
2017 0.24
0.08
0.08
0.08
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,300 1,303 1,259 1,058
Receivables 691 591 555 539
Inventory 9,058 9,713 10,678 11,646
Other — — — —
11,049 11,607 12,492 13,242
2023 2024 2025 Q'26
Payables 598 492 616 589
ST’ Debt — — — —
Other — — — —
2,313 2,360 2,855 2,921

Compound Annual Growth %

10y 5y 3y
Sales 10.15% 9.15% 2.19%
Cash Flow 33.87% 1.99% 4.07%
Earnings 14.00% 24.70% 1.53%
Book Value 6.96% 10.95% 11.23%

Revenue $m

Jan Apr Jul Oct Year
’26 2,146 2,531 2,659 — —
’25 1,859 2,739 2,945 3,423 10,967
’24 1,948 2,837 2,728 3,333 10,847
’23 1,780 2,507 2,688 3,020 9,995
’22 1,791 2,278 2,495 3,712 10,276
’21 1,563 1,930 2,255 3,041 8,790
’20 1,331 1,549 1,651 2,546 7,078
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Jan Apr Jul Oct Year
’26 7 134 250 — —
’25 (421) 363 370 800 1,112
’24 (307) 459 176 683 1,010
’23 (358) 503 529 591 1,266
’22 (281) 76 (42) 1,233 987
’21 55 (28) 421 855 1,303
’20 (366) 175 333 867 1,008
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Jan Apr Jul Oct Year
’26 (12) 110 220 — —
’25 (438) 347 345 772 1,026
’24 (321) 443 150 665 938
’23 (368) 484 515 590 1,220
’22 (299) 55 (31) 1,218 943
’21 120 (42) 405 834 1,317
’20 (393) 167 308 832 914
Fiscal quarters ending in the months shown.

EPS $

Jan Apr Jul Oct Year
’26 2.19 2.72 2.97 — —
’25 1.75 3.50 3.73 4.58 13.49
’24 2.25 4.55 3.60 4.63 15.01
’23 1.70 2.85 3.73 4.11 12.36
’22 1.24 1.85 2.35 5.63 10.90
’21 0.76 1.01 1.87 3.02 6.63
’20 0.41 0.59 0.90 1.55 3.40
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to October

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 23.75 30.45 28.68 32.30 13.28 41.22 39.53 49.87 95.46 86.67

Analyst estimates 2026–2028

Powerpack
High 33.48 51.08 52.73 41.70 50.42 75.61 72.75 105.91 169.52 149.79
People
People Employees 4,200 4,500 4,900 5,100 4,500 5,100 5,200 4,800 4,900 4,900
Revenue/emp, $m 1.23 1.29 1.46 1.42 1.57 1.72 1.98 2.08 2.21 2.24
Income, $m
Income, $m Revenue 5,170 5,815 7,143 7,224 7,078 8,790 10,276 9,995 10,847 10,967
Gross margin, % 19.84 21.54 22.49 21.60 20.03 22.10 24.20 26.36 27.87 25.11
EBT 589 814 934 787 587 1,100 1,704 1,842 2,086 1,791
EBT margin, % 11.39 14.00 13.07 10.90 8.29 12.52 16.58 18.43 19.23 16.33
Net income 382 535 748 590 447 834 1,287 1,372 1,571 1,346
Depreciation 23 25 25 72 69 76 77 76 81 82
Per share, $
Per share, $ Revenue 30.72 35.85 47.00 49.82 54.40 70.83 88.00 90.85 104.64 110.80
Earnings 2.27 3.30 4.92 4.07 3.43 6.72 11.02 12.47 15.16 13.60
Cash flow 0.90 5.31 3.87 3.02 7.75 10.50 8.45 11.51 9.75 11.24
Capex (0.17) (0.18) (0.19) (0.05) (0.72) 0.11 (0.37) (0.43) (0.70) (0.87)
Free cash flow 0.73 5.13 3.68 2.97 7.03 10.61 8.08 11.08 9.05 10.37
Book value 25.17 27.97 31.38 35.30 37.88 43.03 51.57 61.93 74.16 83.72
Shares, m 168 162 152 145 130 124 117 110 104 99
Valuation, ×
Valuation, × P/E 11.98 13.95 6.79 9.75 12.57 9.04 3.86 5.65 9.64 9.87
P/S 0.89 1.28 0.72 0.80 0.80 0.86 0.49 0.78 1.40 1.22
P/B 1.09 1.65 1.07 1.13 1.15 1.42 0.84 1.14 1.97 1.61
EV/Sales 1.49 1.72 1.07 1.16 1.17 1.08 0.68 0.93 1.54 1.36
EV/FCF 63.10 11.98 13.63 19.52 9.05 7.22 7.43 7.66 17.82 14.51
Cash, $m
Cash, $m Operating cash flow 151 862 588 438 1,008 1,303 987 1,266 1,010 1,112
Capex (28) (29) (28) (7) (94) 14 (43) (47) (73) (86)
Free cash flow 122 833 560 430 914 1,317 943 1,220 938 1,026
Balance, $m
Balance, $m Working capital 7,185 7,247 7,965 8,493 8,289 8,294 8,570 8,736 9,247 9,637
Total debt 3,775 3,220 3,698 3,921 3,958 3,563 3,329 2,860 2,833 2,788
Net debt 3,110 2,507 2,516 2,635 2,587 1,925 1,983 1,560 1,530 1,529
Shareholders’ equity 4,235 4,537 4,769 5,119 4,927 5,340 6,022 6,813 7,687 8,286
Returns, %
Returns, % ROA 4.03 5.58 7.60 5.60 4.08 7.38 10.80 11.06 12.14 9.66
ROIC 4.19 5.74 6.75 5.49 4.58 8.78 11.78 12.87 13.84 10.96
ROE 9.03 12.21 16.08 11.93 8.89 16.24 22.65 21.38 21.67 16.86
Negative figures in brackets.

All 10 years →

Fiscal years to Oct 2025 · latest quarter Jul 2026

Charts ten years each

Toll Brothers Inc. vs peers in Residential Construction (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
LEN.B Lennar Corporation $38.8B 14.4× — −8.67% (below 0%: shrinking) −48.03% (below 0%: shrinking) +50.14% (above 0%: growing) 7.69% 5.97% Compare
DHI D.R. Horton, Inc. $38.0B 12.8× 13.8× +0.02% (above 0%: growing) −4.75% (below 0%: shrinking) −44.12% (below 0%: shrinking) 23.26% 12.52% Compare
PHM PulteGroup, Inc. $21.3B 11.4× 11.8× −9.56% (below 0%: shrinking) −18.36% (below 0%: shrinking) −105.08% (below 0%: shrinking) 25.04% 15.53% Compare
LEN Lennar Corporation $18.5B 14.5× 14.8× −8.67% (below 0%: shrinking) −48.03% (below 0%: shrinking) +50.14% (above 0%: growing) 7.69% 5.97% Compare
NVR NVR, Inc. $16.0B 14.5× 17.0× −10.48% (below 0%: shrinking) −23.46% (below 0%: shrinking) −682.68% (below 0%: shrinking) 20.85% 14.17% Compare
TOL Toll Brothers Inc. $12.4B 10.6× 10.8× −9.72% (below 0%: shrinking) −20.74% (below 0%: shrinking) −36.31% (below 0%: shrinking) 23.52% 13.51%
IBP Installed Building Products, Inc. $5.0B 19.8× 23.8× +2.30% (above 0%: growing) −3.56% (below 0%: shrinking) −30.95% (below 0%: shrinking) 33.29% 12.16% Compare
SKY Champion Homes, Inc. $4.4B 23.3× 22.0× +1.27% (above 0%: growing) −21.24% (below 0%: shrinking) −4.47% (below 0%: shrinking) 25.24% 8.49% Compare
CVCO Cavco Industries, Inc. $4.2B 22.9× 22.8× +9.54% (above 0%: growing) −15.56% (below 0%: shrinking) +5.65% (above 0%: growing) 22.07% 8.65% Compare
Median of peers $17.2B 14.5× 17.0× −4.32% −19.80% −17.71% 22.67% 10.41%

All 19 Residential Construction stocks →

Toll Brothers Inc. (TOL) key facts

  • Concern: Net income was $1.3 billion, or $13.60 per share (basic), a net margin of 12.3%.
  • Strength: Toll Brothers Inc.’s revenue for fiscal 2025 (year ended October 2025) was $11.0 billion, up 1.11% from fiscal 2024.
  • Toll Brothers Inc. (TOL) is a Residential Construction company in the Consumer Cyclical sector, listed on the New York Stock Exchange.
  • As of October 9, 2026, TOL traded at $133.13, a market capitalization of $12.4 billion.
  • At that price the stock trades at 10.6× trailing-twelve-month earnings and 1.2× sales; its P/E is higher than 60% of its own readings over the past ten years.
  • Toll Brothers Inc. pays an annual dividend of $1.03 per share, a yield of 0.77%, with a payout ratio of 8.27%.
  • Return on equity was 16.9% and debt-to-equity 0.32.
  • Its Piotroski F-score is 4 out of 9 and its Altman Z-score is 4.06 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Toll Brothers Inc. (TOL) Latest News

stockrow.com/TOL · Data as of Jul 31, 2026 · For information only; not investment advice. · © 2026 stockrow.com