Toll Brothers, Inc. (TOL) Financial Statements
Industry: Operative Builders
In fiscal 2025, Toll Brothers reported revenue of $10.97B, up 1.1% from $10.85B the year before. Net income was $1.35B (a 12.3% net margin), or $13.49 per diluted share. Gross margin was 25.1% and operating margin was 15.7%. Operating activities generated $1.11B of cash, leaving $1.03B of free cash flow. At fiscal year end, Toll Brothers held $14.52B in total assets against $6.23B in total liabilities, including $1.26B of cash and equivalents.
Open the full interactive Toll Brothers financials → Quarterly statements, key ratios, valuation history and price charts.
Toll Brothers Key Stats
| Share Price | $132.65 |
|---|---|
| Market Cap | $12.53B |
| P/E Ratio | 9.8 |
| Dividend Yield | 0.78% |
| Revenue YoY Growth | +1.1% |
| 52-Week Range | $123.68 – $165.20 |
| Shares Outstanding | 93.9 million (basic, 2026 Q3) |
Toll Brothers Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $7.08B | $8.79B | $10.28B | $9.99B | $10.85B | $10.97B |
| Cost of Goods Sold | $5.66B | $6.85B | $7.79B | $7.36B | $7.82B | $8.21B |
| Gross Profit | $1.42B | $1.94B | $2.49B | $2.63B | $3.02B | $2.75B |
| Operating Income | $550.3M | $1.02B | $1.51B | $1.72B | $2.04B | $1.72B |
| Pre-Tax Income | $586.9M | $1.10B | $1.70B | $1.84B | $2.09B | $1.79B |
| Income Tax | $140.3M | $266.7M | $417.2M | $470.3M | $514.4M | $444.9M |
| Net Income | $446.6M | $833.6M | $1.29B | $1.37B | $1.57B | $1.35B |
| Diluted EPS | $3.40 | $6.63 | $10.90 | $12.36 | $15.01 | $13.49 |
Toll Brothers Quarterly Results
| 2025 Q4 | 2026 Q1 | 2026 Q2 | 2026 Q3 | |
|---|---|---|---|---|
| Revenue | $3.42B | $2.15B | $2.53B | $2.66B |
| Net Income | $446.7M | $210.9M | $260.6M | $280.1M |
| Diluted EPS | $4.48 | $2.19 | $2.72 | $2.97 |
Toll Brothers Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.37B | $1.64B | $1.35B | $1.30B | $1.30B | $1.26B |
| Total Assets | $11.07B | $11.54B | $12.29B | $12.53B | $13.37B | $14.52B |
| Total Long-Term Debt | $5.53B | $5.45B | $5.95B | $2.73B | $3.18B | $5.21B |
| Total Liabilities | $6.14B | $6.20B | $6.27B | $5.71B | $5.68B | $6.23B |
| Shareholders' Equity | $4.88B | $5.30B | $6.01B | $6.80B | $7.67B | $8.27B |
Toll Brothers Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $1.01B | $1.30B | $986.8M | $1.27B | $1.01B | $1.11B |
| Cash From Investing | — | -$4.2M | -$153.2M | -$150.6M | -$167.6M | -$310.0M |
| Cash From Financing | — | -$1.01B | -$1.12B | -$1.17B | -$816.5M | -$833.9M |
| Free Cash Flow | $898.6M | $1.24B | $915.1M | $1.19B | $936.5M | $1.03B |
| Dividends Paid | $56.6M | $76.6M | $88.9M | $91.1M | $93.4M | $97.1M |
Figures from Toll Brothers' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Toll Brothers financials page for every line item.
Toll Brothers Company Profile
| Ticker | TOL |
|---|---|
| Exchange | NYSE |
| Industry | Operative Builders |
| Headquarters | Fort Washington, Pennsylvania |
| Incorporated in | Delaware |
| Fiscal Year End | October 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0000794170 |
Frequently Asked Questions
What was Toll Brothers' revenue in fiscal 2025?
Toll Brothers (TOL) reported revenue of $10.97B for fiscal 2025.
What is Toll Brothers' annual revenue history?
Toll Brothers' annual revenue by fiscal year: 2020: $7.08B; 2021: $8.79B; 2022: $10.28B; 2023: $9.99B; 2024: $10.85B; 2025: $10.97B.
What was Toll Brothers' net income in fiscal 2025?
Toll Brothers reported net income of $1.35B for fiscal 2025.
What was Toll Brothers' earnings per share (EPS) in fiscal 2025?
Toll Brothers' diluted EPS was $13.49 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Toll Brothers generate in fiscal 2025?
Toll Brothers generated $1.03B of free cash flow in fiscal 2025.
What was Toll Brothers' revenue last quarter?
In its most recent reported quarter (2026 Q3), Toll Brothers reported revenue of $2.66B.
How much debt does Toll Brothers have?
Toll Brothers reported $5.21B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Toll Brothers are outstanding?
Toll Brothers reported a weighted average of 93.9 million basic shares outstanding in 2026 Q3.
What is Toll Brothers' market cap?
Based on its latest closing price, Toll Brothers (TOL) has a market capitalization of about $12.53B.
When does Toll Brothers' fiscal year end?
Toll Brothers' fiscal year end, as registered with the SEC, is October 31.
Where is Toll Brothers headquartered?
Toll Brothers lists its business address in Fort Washington, Pennsylvania in its SEC filings.