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Stocks · Industrials · Operative Builders

Toll Brothers, Inc.

TOL Clue Score56
United States Fiscal year ends October CIK 0000794170
$133.13 -1.26% Close, 9 Oct 2026
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Price $133.13 +136.76% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Operating income0.49Net income0.38EPS, diluted2.18Fiscal year 2017Revenue5.82Operating income0.65Net income0.54 +40.1%EPS, diluted3.17 +45.4%Fiscal year 2018Revenue7.14 +22.8%Operating income0.79Net income0.75 +39.7%EPS, diluted4.85 +53.0%Fiscal year 2019Revenue7.22 +1.1%Operating income0.68Net income0.59 −21.1%EPS, diluted4.03 −16.9%Fiscal year 2020Revenue7.08 −2.0%Operating income0.55Net income0.45 −24.3%EPS, diluted3.40 −15.6%Fiscal year 2021Revenue8.79 +24.2%Operating income1.02Net income0.83 +86.7%EPS, diluted6.63 +95.0%Fiscal year 2022Revenue10.28 +16.9%Operating income1.51Net income1.29 +54.3%EPS, diluted10.90 +64.4%Fiscal year 2023Revenue9.99 −2.7%Operating income1.72Net income1.37 +6.7%EPS, diluted12.36 +13.4%Fiscal year 2024Revenue10.85 +8.5%Operating income2.04Net income1.57 +14.5%EPS, diluted15.01 +21.4%Fiscal year 2025Revenue10.97 +1.1%Operating income1.72Net income1.35 −14.3%EPS, diluted13.49 −10.1%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue n/a 5.82 7.14 7.22 7.08 8.79 10.28 9.99 10.85 10.97
Growth +22.8% +1.1% −2.0% +24.2% +16.9% −2.7% +8.5% +1.1%
Operating income 0.49 0.65 0.79 0.68 0.55 1.02 1.51 1.72 2.04 1.72
Net income 0.38 0.54 0.75 0.59 0.45 0.83 1.29 1.37 1.57 1.35
Growth +40.1% +39.7% −21.1% −24.3% +86.7% +54.3% +6.7% +14.5% −14.3%
EPS, diluted 2.18 3.17 4.85 4.03 3.40 6.63 10.90 12.36 15.01 13.49
Growth +45.4% +53.0% −16.9% −15.6% +95.0% +64.4% +13.4% +21.4% −10.1%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Fiscal year 2017Operating margin11.1%Net margin9.2%Free cash flow margin14.3%Fiscal year 2018Operating margin11.0%Net margin10.5%Free cash flow margin7.8%Fiscal year 2019Operating margin9.4%Net margin8.2%Free cash flow margin4.9%Fiscal year 2020Operating margin7.8%Net margin6.3%Free cash flow margin12.7%Fiscal year 2021Operating margin11.6%Net margin9.5%Free cash flow margin14.1%Fiscal year 2022Operating margin14.7%Net margin12.5%Free cash flow margin8.9%Fiscal year 2023Operating margin17.3%Net margin13.7%Free cash flow margin11.9%Fiscal year 2024Operating margin18.8%Net margin14.5%Free cash flow margin8.6%Fiscal year 2025Operating margin15.7%Net margin12.3%Free cash flow margin9.4%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin n/a 11.1% 11.0% 9.4% 7.8% 11.6% 14.7% 17.3% 18.8% 15.7%
Net margin n/a 9.2% 10.5% 8.2% 6.3% 9.5% 12.5% 13.7% 14.5% 12.3%
Free cash flow margin n/a 14.3% 7.8% 4.9% 12.7% 14.1% 8.9% 11.9% 8.6% 9.4%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow0.15Capital expenditure−0.03Free cash flow0.12Buybacks−0.39Dividends paid0.00Fiscal year 2017Operating cash flow0.86Capital expenditure−0.03Free cash flow0.83 +580.1%Buybacks−0.29Dividends paid−0.04Fiscal year 2018Operating cash flow0.59Capital expenditure−0.03Free cash flow0.56 −32.8%Buybacks−0.50Dividends paid−0.06Fiscal year 2019Operating cash flow0.44Capital expenditure−0.09Free cash flow0.35 −37.4%Buybacks−0.23Dividends paid−0.06Fiscal year 2020Operating cash flow1.01Capital expenditure−0.11Free cash flow0.90 +156.2%Buybacks−0.63Dividends paid−0.06Fiscal year 2021Operating cash flow1.30Capital expenditure−0.07Free cash flow1.24 +37.6%Buybacks−0.38Dividends paid−0.08Fiscal year 2022Operating cash flow0.99Capital expenditure−0.07Free cash flow0.92 −26.0%Buybacks−0.54Dividends paid−0.09Fiscal year 2023Operating cash flow1.27Capital expenditure−0.07Free cash flow1.19 +30.4%Buybacks−0.56Dividends paid−0.09Fiscal year 2024Operating cash flow1.01Capital expenditure−0.07Free cash flow0.94 −21.5%Buybacks−0.63Dividends paid−0.09Fiscal year 2025Operating cash flow1.11Capital expenditure−0.09Free cash flow1.03 +9.6%Buybacks−0.65Dividends paid−0.10
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 0.15 0.86 0.59 0.44 1.01 1.30 0.99 1.27 1.01 1.11
Capital expenditure −0.03 −0.03 −0.03 −0.09 −0.11 −0.07 −0.07 −0.07 −0.07 −0.09
Free cash flow 0.12 0.83 0.56 0.35 0.90 1.24 0.92 1.19 0.94 1.03
Growth +580.1% −32.8% −37.4% +156.2% +37.6% −26.0% +30.4% −21.5% +9.6%
Buybacks −0.39 −0.29 −0.50 −0.23 −0.63 −0.38 −0.54 −0.56 −0.63 −0.65
Dividends paid 0.00 −0.04 −0.06 −0.06 −0.06 −0.08 −0.09 −0.09 −0.09 −0.10

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2016Cash0.63Shareholders’ equity4.23Fiscal year 2017Cash0.71Shareholders’ equity4.53Fiscal year 2018Cash1.18Shareholders’ equity4.76Fiscal year 2019Cash1.29Shareholders’ equity5.07Fiscal year 2020Cash1.37Shareholders’ equity4.88Fiscal year 2021Cash1.64Shareholders’ equity5.30Fiscal year 2022Cash1.35Shareholders’ equity6.01Fiscal year 2023Cash1.30Shareholders’ equity6.80Fiscal year 2024Cash1.30Shareholders’ equity7.67Fiscal year 2025Cash1.26Shareholders’ equity8.27
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.63 0.71 1.18 1.29 1.37 1.64 1.35 1.30 1.30 1.26
Shareholders’ equity 4.23 4.53 4.76 5.07 4.88 5.30 6.01 6.80 7.67 8.27

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending October, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Oct 2016 FY2017 31 Oct 2017 FY2018 31 Oct 2018 FY2019 31 Oct 2019 FY2020 31 Oct 2020 FY2021 31 Oct 2021 FY2022 31 Oct 2022 FY2023 31 Oct 2023 FY2024 31 Oct 2024 FY2025 31 Oct 2025
Revenue and profit
n/a 5.82 7.14 7.22 7.08 8.79 10.28 9.99 10.85 10.97
Growth +22.8% +1.1% −2.0% +24.2% +16.9% −2.7% +8.5% +1.1%
n/a 4.56 5.54 5.66 5.66 6.85 7.79 7.36 7.82 8.21
0.53 0.61 0.82 0.88 0.87 0.92 0.98 0.91 0.98 1.03
0.49 0.65 0.79 0.68 0.55 1.02 1.51 1.72 2.04 1.72
Growth +31.5% +21.5% −13.4% −19.2% +85.5% +47.8% +14.3% +18.3% −15.7%
0.21 0.28 0.19 0.20 0.14 0.27 0.42 0.47 0.51 0.44
0.38 0.54 0.75 0.59 0.45 0.83 1.29 1.37 1.57 1.35
Growth +40.1% +39.7% −21.1% −24.3% +86.7% +54.3% +6.7% +14.5% −14.3%
Per share
2.27 3.30 4.92 4.07 3.43 6.72 11.02 12.47 15.16 13.60
2.18 3.17 4.85 4.03 3.40 6.63 10.90 12.36 15.01 13.49
Growth +45.4% +53.0% −16.9% −15.6% +95.0% +64.4% +13.4% +21.4% −10.1%
168.3 162.2 152.0 145.0 130.1 124.1 116.8 110.0 103.7 99.0
176.0 169.5 154.2 146.5 131.2 125.8 118.0 111.0 104.7 99.8
Growth −3.7% −9.0% −5.0% −10.4% −4.1% −6.2% −5.9% −5.7% −4.7%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 9.2% a year over five years, and earnings per share grew 31.7% a year.
  • The diluted share count fell 24.0% in five years, so buybacks did some of the work per share.
  • Operating margin is up 7.9 points on five years ago, at 15.7%.
  • Profitable in every one of the 10 years on file.