Toll Brothers Inc
NYSE:TOL

Watchlist Manager
Toll Brothers Inc Logo
Toll Brothers Inc
NYSE:TOL
Watchlist
Price: 138.94 USD -1.5% Market Closed
Market Cap: 13.4B USD

Toll Brothers Inc
Investor Relations

Toll Brothers Inc., an emblem of luxury and sophistication in the homebuilding industry, has carved out a distinctive niche as America’s leading builder of luxury homes. Founded in 1967 by Robert and Bruce Toll in Pennsylvania, the company has grown dramatically, standing as a paragon of upscale residential construction. Over the decades, Toll Brothers has perfected the art of transforming raw land into luxurious havens, primarily focusing on affluent markets across the United States. Their portfolio extends from single-family detached homes and townhomes to urban high-rise condominiums, each project meticulously designed to cater to the tastes of discerning customers. By directly engaging in the construction and sale of these properties, Toll Brothers ensures quality control and brand consistency, which are crucial in sustaining its premium reputation.

The company generates revenue primarily through the sale of residential properties, but its business model is underpinned by a vast array of complementary operations. Land acquisition and development play pivotal roles in their strategy, allowing them to control costs and ensure steady availability of building sites. Moreover, their integration of architectural, engineering, and design services provides an appeal that extends beyond mere construction. Toll Brothers also leverages its national footprint to tap into ancillary services, such as mortgage financing and title insurance, enhancing customer experience and adding layers of profitability. This holistic approach not only diversifies their revenue streams but also fortifies their position against market volatility, an essential strategy in the cyclical real estate sector.

Show more
Loading
No Stocks Selected

Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

Select Stock to Compare
Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Aug 20, 2025
AI Summary
Q3 2025

Record Q3 Revenue: Toll Brothers delivered 2,959 homes at an average price of $974,000, generating record third quarter home sales revenues of $2.9 billion.

EPS & Margin Beat: Adjusted gross margin of 27.5% and SG&A expense of 8.8% both exceeded guidance, contributing to Q3 earnings of $3.73 per diluted share.

Full-Year Delivery Lowered: Projected full-year deliveries are now approximately 11,200 homes, at the lower end of prior guidance, due to softer sales volumes.

Guidance Maintained: All other major guidance points, including full-year adjusted gross margin of 27.25%, are being maintained.

Incentives Rise: Average incentive on new contracts increased to 8% from 7% last quarter, primarily due to discounting on finished spec homes.

Spec Strategy & Backlog: Spec homes now comprise about 50% of business, with 3,200 specs in process and 1,800 permits ready; backlog stands at 5,492 homes valued at $6.376 billion.

Strong Cash & Buybacks: Ended Q3 with $852 million in cash, expect $1 billion in operating cash flow for the year, and project $600 million in share repurchases for 2025.

Leadership Transition: Gregg Ziegler will become CFO in November as Marty Connor retires.

Key Financials
Revenue
$2.9 billion
Homes Delivered
2,959
Average Delivered Price
$974,000
Adjusted Gross Margin
27.5%
SG&A Expense as % of Revenue
8.8%
Net Contracts Signed
2,388
Net Contract Value
$2.4 billion
Average Contract Price
$1.01 million
Backlog (Homes)
5,492
Backlog Value
$6.376 billion
Average Backlog Price
$1.16 million
Cancellation Rate
3.2%
All-Cash Buyers
26%
Loan-to-Value Ratio
70%
Active Selling Communities (Q3 End)
420
Spec Homes in Construction
3,200
Building Permits Ready
1,800
Land Position (Lots Owned/Controlled)
76,800 lots (57% controlled, 43% owned)
Cash & Equivalents
$852 million
Net Debt-to-Capital Ratio
19.3%
Revolving Credit Available
$2.2 billion
Operating Cash Flow Guidance
$1 billion (projected for year)
Share Repurchases
$201.4 million in Q3; $402 million YTD
Dividend Paid
$24.2 million (Q3)
Diluted EPS
$3.73 (Q3)
Pre-tax Earnings (Q3)
$500 million
Tax Rate
26% (Q3)
Fourth Quarter Deliveries Guidance
3,350 homes
Fourth Quarter Average Delivered Price Guidance
$970,000–$980,000
Weighted Average Share Count Guidance
98 million (Q4); 100 million (full year)
Book Value Per Share Guidance (Year-End)
$88
Return on Beginning Equity Guidance
18%
Earnings Call Recording
Other Earnings Calls

Management

Mr. Douglas C. Yearley Jr.
Chairman & CEO
No Bio Available
Mr. Robert Parahus
President & COO
No Bio Available
Mr. Martin P. Connor CPA
Senior VP & CFO
No Bio Available
Mr. Michael J. Grubb
Senior VP & Chief Accounting Officer
No Bio Available
John Critikos
Chief Information Officer & Senior VP
No Bio Available
Mr. Gregg L. Ziegler
Senior VP of Investor Relations & Treasurer
No Bio Available
Mr. Timothy J. Hoban J.D.
Chief Compliance Officer, General Counsel & Senior VP
No Bio Available
Ms. Wendy L. Marlett
Executive VP & Chief Marketing Officer
No Bio Available
Ms. Kellie Hall
Chief Human Resources Officer
No Bio Available
Mr. Frederick N. Cooper
Senior Vice President of Strategic Partnerships
No Bio Available

Contacts

Address
PENNSYLVANIA
Fort Washington
1140 Virginia Drive
Contacts
+12159388000.0
www.tollbrothers.com