Toll Brothers
Builds luxury homes and communities for buyers across multiple life stages.
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Profile
Builds and sells luxury detached and attached homes through build-to-order communities and speculative inventory across the United States. Five geographic homebuilding regions anchor the business, supported by in-house mortgage, title, design, engineering, smart-home, landscaping, and building-components services.
Builds luxury detached and attached homes for first-time, move-up, empty-nester, active-adult, and second-home buyers. Communities combine build-to-order homes with speculative inventory, and operations are concentrated in the United States across the North, Mid-Atlantic, South, Mountain, and Pacific regions.
Mortgage, title, architecture, engineering, land development, smart-home, landscaping, and building-components capabilities support the sale and delivery process. Repeat acquisitions have also served as a route into new local markets.
Execution depends on acquiring and approving land, opening communities, coordinating subcontractors and materials, and matching homes to affluent buyers across life stages. Demand remains tied to mortgage rates, household confidence, resale conditions, pricing, cancellations, and warranty or construction-defect claims.
Company facts
Key statistics
Year to date +7.8% · Average volume (30d) 863.6K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 20, 2026 | Evercore ISI | Reiterate | Outperform | $185 | $191 | |
| Aug 20, 2026 | UBS | Reiterate | Buy | $187 | $195 | |
| Jul 14, 2026 | Barclays | Reiterate | Underweight | $110 | $122 | |
| Jul 10, 2026 | Citigroup | Upgrade | Outperform | Buy | ||
| Jun 9, 2026 | Keefe, Bruyette & Woods | Upgrade | Market Perform | Outperform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 19, 2026Q3 FY26 | $2.93 | $2.97 | +1.4% | $2.62B | $2.66B | +1.5% | −2.33% |
| May 19, 2026Q2 FY26 | $2.58 | $2.72 | +5.4% | $2.42B | $2.53B | +4.8% | +9.80% |
| Feb 17, 2026Q1 FY26 | $2.05 | $2.19 | +6.8% | $1.85B | $2.15B | +15.7% | −2.34% |
| Dec 8, 2025Q4 FY25 | $4.88 | $4.58 | −6.1% | $3.30B | $3.42B | +3.7% | −2.36% |
Financial highlights
| 12 quarters | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $2.74B | $2.95B | $3.42B | $2.15B | $2.53B | $2.66B | |
| Gross profit | $705.4M | $765.4M | $888.5M | $490.1M | $604.9M | $652.9M | |
| Operating income | $449.7M | $487.7M | $564.1M | $219.1M | $346.6M | $359.2M | |
| Net income | $352.4M | $369.6M | $446.7M | $210.9M | $260.6M | $280.1M | |
| Diluted EPS | $3.50 | $3.73 | $4.58 | $2.19 | $2.72 | $2.96 | |
| Gross margin | 25.8% | 26.0% | 26.0% | 22.8% | 23.9% | 24.6% | |
| Operating margin | 16.4% | 16.6% | 16.5% | 10.2% | 13.7% | 13.5% |
Fiscal years (4-quarter sums)FY21 $8.79B · FY22 $10.28B · FY23 $9.99B · FY24 $10.85B · FY25 $10.97B
Revenue by product · Q3 FY26
Revenue by geography · Q3 FY26
Balance sheet, Jul 31, 2026Cash & short-term investments $1.06B · Total debt $2.77B · Total assets $14.69B · Shareholders' equity $8.53B
Dividends
Raised for 7 straight years — most recently to $0.26 from $0.25 in Apr 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 10, 2026 | Jul 10 | Jul 24 | $0.26 | |
| Apr 10, 2026 | Apr 10 | Apr 24 | $0.26 | raised from $0.25 |
| Jan 9, 2026 | Jan 9 | Jan 23 | $0.25 | |
| Oct 10, 2025 | Oct 10 | Oct 24 | $0.25 | |
| Jul 11, 2025 | Jul 11 | Jul 25 | $0.25 | |
| Apr 11, 2025 | Apr 11 | Apr 25 | $0.25 | raised from $0.23 |
| Jan 10, 2025 | Jan 10 | Jan 24 | $0.23 | |
| Oct 11, 2024 | Oct 11 | Oct 25 | $0.23 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 93.47M · Float 92.71M · 99.2% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 9.78M | 10.46% | 13F | Aug 7, 2026 |
| Greenhaven Associates Inc | 5.63M | 6.02% | 13F | Jul 28, 2026 |
| Capital World Investors | 5.25M | 5.62% | 13F | Aug 12, 2026 |
| Vanguard Capital Management LLC | 4.29M | 4.59% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 4.17M | 4.47% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 18, 2026 | Robert Parahus | officer: President & COO | −7,500 | $149.66 |
| Jun 18, 2026 | Douglas C. Jr. Yearley | director, officer: Executive Chairman | −77,957 | $156.58 |
| Apr 15, 2026 | Stephen F. East | director | −1,000 | $139.70 |
| Mar 4, 2026 | John A. McLean | director | −2,313 | $153.43 |
| Feb 27, 2026 | Douglas C. Jr. Yearley | director, officer: Chief Executive Officer | −27,014 | $159.15 |
Peers
- Lennar
National rival across luxury, move-up, and active-adult homes
- PulteGroup
Broad competitor in move-up, luxury, and active-adult housing
- NVR
Direct East Coast overlap in move-up and luxury homes
- D.R. Horton
Scale rival spanning move-up, luxury, and active-adult homes
- KB Home
Personalized new homes competing for first-time and move-up buyers
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Toll Brothers | $146.22 | +0.02% | $13.67B | 11.7 | 10.6 | 1.3 | −9.7% |
| Lennar | $86.50 | +0.19% | $21.44B | 13.5 | 15.2 | 0.7 | −5.0% |
| PulteGroup | $128.55 | +0.02% | $24.81B | 13.2 | 12.0 | 1.5 | −9.6% |
| NVR | $6,396.27 | −0.21% | $17.27B | 16.6 | 16.6 | 1.8 | −10.6% |
| D.R. Horton | $147.39 | 0.00% | $41.23B | 14.1 | 13.1 | 1.2 | +0.0% |
| KB Home | $54.96 | +0.18% | $3.36B | 13.3 | 13.6 | 0.6 | −27.3% |
| Median | 13.5 | 13.6 | 1.2 | −9.6% |