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NEW YORK STOCK EXCHANGE, INC. · Consumer products · CIK 0000794170
$135.50
+3.34% · live
Updated
$12.85B market value
From Toll Brothers, Inc.'s FY2025 10-K, filed Dec 19, 2025 · read the filing
Toll Brothers builds and constructs buildings. It took in $10.97B last year, which makes it a large company. Of every dollar it sells, about 12 cents is left as profit.
The financial picture is led by profitability and debt, with growth worth watching.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
Recent open-market selling by East Stephen F., not under a pre-arranged plan.
$108.8K sold in the last 120 days · Read the filing
These are things the company filed or that a published model flagged — not predictions, and not a reason on their own to buy or sell anything.
Financial health
Strong finances across the board.
From Toll Brothers, Inc.'s FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Operating income
$2.04B → $1.72B
Operating margin
18.8% → 15.7%
Shares in issue
99.8M → 94.8M
Capital spending
$73.6M → $86.2M
Measured against FY2024, from the 10-K filed Dec 19, 2025
Deteriorated: -15.7%
$2.04B to $1.72BSignificant
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
How the latest move compares (quote live), and what was published around it
TOL rose 3.34% on the latest quote. The average Industrials company tracked here moved +0.31%, and the S&P 500 −1.04%. That is 3.0 points above its sector and 4.4 points above the market.
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
The growth rate someone buying today is paying for, against what the company has delivered
At today's price, the market is paying for free cash flow to shrink by about 2% a year for the next 10 years. Over the last 10 years it grew by about 35% a year.
The essentials
Each answered from the filings, with the numbers behind it.
Yes. It keeps about 12 cents of every dollar of sales as profit, earning $1.35B last year.
Barely. Sales were roughly flat, up 1.1%.
It does not appear so. For every $1 it owes, it owns $2.33 in assets.
Core operating and valuation reference metrics
Whether the dividend is covered by what the business actually earns
It pays out 7 cents of every dollar of profit and keeps the rest, which leaves the payment comfortably covered. It paid out 9% of the cash its operations generated. It has paid in each of the last 9 years.
GoodNext payment expected around , projected from how regularly it has paid before rather than from a date the company has announced.
Figures from the FY2025 annual filing
Last year it earned $1.35B and generated $1.11B of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202510-K · Dec 19, 2025Filing for FY2025 | FY202410-K · Dec 20, 2024Filing for FY2024 | FY202310-K · Dec 21, 2023Filing for FY2023 | FY202210-K · Dec 19, 2022Filing for FY2022 | FY202110-K · Dec 17, 2021Filing for FY2021 | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|---|---|
| RevenueWhat is this? | $10.97B | $10.85B | $9.99B | $10.28B | $8.79B | +1.1% |
| Cost of revenue | $8.21B | $7.82B | $7.36B | $7.79B | $6.85B | +5.0% |
| Gross profit | $2.75B† | $3.02B† | $2.63B† | $2.49B† | $1.94B† | −8.9% |
| Gross marginGross profit ÷ revenueWhat is this? | 25.1% | 27.9% | 26.4% | 24.2% | 22.1% | −2.8 pts |
| Selling, general and administrative | $1.03B | $982.3M | $909.4M | $977.8M | $922.0M | +5.2% |
| Operating income | $1.72B | $2.04B | $1.72B | $1.51B | $1.02B | −15.7% |
| Operating marginOperating income ÷ revenueWhat is this? | 15.7% | 18.8% | 17.3% | 14.7% | 11.6% | −3.1 pts |
| Interest expense | — | — | — | $0.00 | $0.00 | — |
| Net income | $1.35B | $1.57B | $1.37B | $1.29B | $833.6M | −14.3% |
| Net marginNet income ÷ revenueWhat is this? | 12.3% | 14.5% | 13.7% | 12.5% | 9.5% | −2.2 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $14.20 | $15.74 | $13.22 | $11.74 | $6.94 | −9.8% |
† calculated from other reported figures, such as total liabilities as assets minus equity.
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Officers, directors and major shareholders must report within two business days of a trade.
Sold on the open market — 800 shares at $135.99 ($108.8K)
Holds 12,642 shares after this filing.
Notice filed ahead of a planned sale — the sale itself has not necessarily happened yet.
Filed notice to sell 800 shares ($108.8K) on or after .
Shares originally obtained via Restricted Stock Lapse.
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Quarterly report for Q3 FY2026
Revenue -9.7% · Operating margin −3.0 pts · Gross profit -15.7% — against Q3 FY2025
Read the filingPublished results
Read the filingWrite down why you are following Toll Brothers, Inc., what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
Coverage from the last 30 days
Toll Brothers Announces New Luxury Home Community Coming Soon to Walpole, Massachusetts
Yahoo Finance ·
Toll Brothers Announces Grand Opening of 280 North at Doylestown in Bucks County, Pennsylvania
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3 Reasons to Avoid TOL and 1 Stock to Buy Instead
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Toll Brothers Announces Waterford Pointe Community Now Open in Piedmont, South Carolina
Yahoo Finance ·
Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from TOL's 10-K for fiscal year 2025 (period ending 2025-10-31, filed Dec 19, 2025), reported under the US GAAP taxonomy. View the source filing.
3 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. Accounting had too few reported figures and is left out of the average rather than counted as a weakness, so a company is never marked down for a figure it did not publish. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 7 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2025 | 8.7 | 3/7 | 10-K, filed Dec 19, 2025 |
| FY2024 | 8.7 | 6/7 | 10-K, filed Dec 20, 2024 |
| FY2023 | 7.3 | 5/7 | 10-K, filed Dec 21, 2023 |
| FY2022 | 8.7 | 6/7 | 10-K, filed Dec 19, 2022 |
| FY2021 | 7.3 | 7/7 | 10-K, filed Dec 17, 2021 |
| FY2020 | 4.7 | 4/7 | 10-K, filed Dec 22, 2020 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
3 of 7 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's. 2 could not be evaluated and are excluded from the total rather than counted as failures.
not reported — This company has not reported enough of the required figures to calculate this score.
This company has not reported enough of the required figures to calculate this score.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
not reported — This company has not reported enough of the required figures to calculate this score.
This company has not reported enough of the required figures to calculate this score.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2025 filing as filed with the SEC.
Deteriorated: −3.1 pts
18.8% to 15.7%Significant
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Improved: -5.0%
99.8M to 94.8MSignificant
Why it matters: The company bought back stock, so each remaining holding owns slightly more of it. Worth checking it was not funded by borrowing.
Changed: +17.0%
$73.6M to $86.2MSignificant
Why it matters: Neither good nor bad on its own. Heavy spending is a company building capacity or a company struggling to stand still, and the two look identical in this figure.
Deteriorated: -8.9%
$3.02B to $2.75BNotable
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Deteriorated: -14.3%
$1.57B to $1.35BNotable
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Deteriorated: −2.8 pts
27.9% to 25.1%Notable
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Deteriorated: −2.2 pts
14.5% to 12.3%Notable
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: +9.6%
$936.5M to $1.03BNotable
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
Deteriorated: -9.8%
$15.74 to $14.20Notable
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Q3 FY2026 against Q3 FY2025, from the 10-Q filed Aug 28, 2026 — read it.
Deteriorated: -15.7%
$741.4M to $625.2MSignificant
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Deteriorated: -26.4%
$487.7M to $359.2MSignificant
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Deteriorated: -24.2%
$369.6M to $280.1MSignificant
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Deteriorated: −3.0 pts
16.6% to 13.5%Significant
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Deteriorated: -20.5%
$3.76 to $2.98Significant
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: +24.1%
$852.3M to $1.06BSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Deteriorated: -9.7%
$2.95B to $2.66BNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Deteriorated: −1.7 pts
25.2% to 23.5%Notable
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Deteriorated: −2.0 pts
12.6% to 10.5%Notable
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: -4.6%
98.4M to 93.9MNotable
Why it matters: The company bought back stock, so each remaining holding owns slightly more of it. Worth checking it was not funded by borrowing.
Q3 FY2026 against Q2 FY2026, from the 10-Q filed Aug 28, 2026 — read it. Quarter-to-quarter moves include seasonal swings — a retailer's holiday quarter — which the year-earlier comparison removes.
Improved: +5.0%
$2.53B to $2.66BNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +7.5%
$260.6M to $280.1MNotable
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: +8.9%
$2.74 to $2.98Notable
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: -1.3%
95.1M to 93.9MNotable
Why it matters: The company bought back stock, so each remaining holding owns slightly more of it. Worth checking it was not funded by borrowing.
3 other measures barely moved. Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
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Discounted at 8%–10% a year, with growth settling to 2.5% after 10 years. Those rates are ordinary choices, not measurements: across that range the assumed growth works out between -4% and -0%. This describes what the price implies — it is not a forecast, and not a view on whether the price is right.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 4.2% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
The trailing P/E is 11.5x — investors pay $11.5 for each $1 of trailing profit.
This company has not reported enough of the required figures to calculate this score.
Estimated from how often this has happened before, not a confirmed date.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
Quarterly report for Q2 FY2026
Revenue -7.6% · Operating margin −2.7 pts · Cash +61.0% — against Q2 FY2025
Published results
Read the filingHad a director or senior officer leave or join · Reported another event
Read the filingHad a director or senior officer leave or join
Read the filingHeld a shareholder vote
Read the filingQuarterly report for Q1 FY2026
Revenue +15.4% · Operating margin −1.6 pts · Free cash flow $426.5M narrower — against Q1 FY2025
Read the filingPublished results
Read the filingSigned a material agreement
Read the filingProxy statement for a shareholder meeting
Read the filingHad a director or senior officer leave or join · Reported another event
Read the filingHad a director or senior officer leave or join
Read the filingAnnual report for FY2025
Operating margin −3.1 pts · Operating income -15.7% · Shares in issue -5.0% — against FY2024
Read the filingPublished results
Read the filingMade a Regulation FD disclosure
Read the filingQuarterly report for Q3 FY2025
Revenue +8.0% · Operating margin −1.7 pts · Gross margin −2.0 pts — against Q3 FY2024
Read the filingPublished results
Read the filingHad a director or senior officer leave or join · Reported another event
Read the filingReported another event
Read the filingToll Brothers Announces New Luxury Home Community Coming Soon to Tacoma, Washington
Yahoo Finance ·
Primary sources and further research