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Earnings transcript
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TOL
Toll Brothers, Inc.
$142.66
5.5
(4.01%)
| Exchange: | NYSE |
| Market Cap: | 13.335B |
| Shares Outstanding: | 120M |
Delayed data
About The Company
| Sector: | Consumer Cyclical | |||||
| Industry: | Residential Construction | |||||
| CEO: | Karl K. Mistry | |||||
| Full Time Employees: | 4900 | |||||
| Address: |
| |||||
| Website: | https://www.tollbrothers.com |
Toll Brothers, Inc. (TOL) stands as a prominent luxury homebuilder operating across the United States. The company, along with its various divisions, specializes in the design, construction, marketing, sale, and financing of upscale detached and attached residences within master-planned communities. Its operations are structured into two main divisions: Traditional Home Building and City Living. The latter specifically focuses on developing, constructing, and selling condominiums. Beyond its core homebuilding activities, Toll Brothers diversifies its portfolio by developing and managing golf courses and country clubs, acquiring and divesting land, and constructing, operating, and leasing apartment complexes. It further enhances its offerings by providing a wide array of interior design and finishing selections, encompassing everything from flooring and cabinetry to smart home systems and security features. The firm maintains a vertically integrated structure, with its own operations spanning architectural and engineering services, mortgage and title insurance, smart home technology, landscaping, lumber distribution, and the manufacturing and assembly of various housing components. Its clientele primarily consists of affluent buyers, including those seeking to upgrade their homes, empty-nesters, active adults, and individuals purchasing second homes. Toll Brothers has also forged a strategic alliance with Equity Residential to jointly develop new rental apartment communities across various U.S. markets. Established in 1967, the company’s headquarters are situated in Fort Washington, Pennsylvania.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 9,994,937 | 10,846,740 | 10,966,723 |
| Gross Profit | 2,634,201 | 3,022,478 | 2,847,011 |
| EBITDA | 1,801,228 | 2,121,388 | 1,866,195 |
| Operating Income | 1,724,755 | 2,040,187 | 1,720,614 |
| Net Income | 1,372,071 | 1,571,195 | 1,346,486 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 12,527,018 | 13,367,932 | 14,519,866 |
| Total Liabilities | 5,713,816 | 5,681,217 | 6,233,802 |
| Total Stockholders Equity | 6,797,156 | 7,670,928 | 8,270,663 |
| Total Debt | 2,984,333 | 2,961,507 | 2,787,913 |
| Cash and Cash Equivalents | 1,300,068 | 1,303,039 | 1,258,997 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 1,266,430 | 1,010,167 | 1,112,411 |
| Capital Expenditure | -72,961 | -73,643 | -86,195 |
| Free Cash Flow | 1,193,469 | 936,524 | 1,026,216 |
| Net Income | 1,372,071 | 1,571,195 | 1,346,486 |
| Net Change in Cash | -54,209 | 26,094 | -31,497 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2028 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 11,651,315.984 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 11,941,982.367 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 11,796,649.176 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 2,710,359.829 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 2,777,975.409 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 2,744,167.619 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 1,529,747.784 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 1,630,587.436 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 1,580,167.610 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 1,108,846.142 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 1,136,508.622 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 1,122,677.382 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 16 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 16.340 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 15.330 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 5 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 5 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Strong Financial Performance in Q1 FY2025: Toll Brothers reported robust first-quarter results with 1,991 home deliveries, reflecting solid demand in the luxury home market. Key financial metrics such as revenue and net income (as per earnings call summary) indicate consistent operational execution, supported by an affluent customer base.
- Favorable Profitability Metrics: High gross profit margin (TTM) and net profit margin (TTM) from key metrics data suggest efficient cost management and strong pricing power within the luxury segment, positioning TOL favorably against industry peers.
- Healthy Cash Flow Generation: Positive free cash flow (TTM) and operating cash flow trends from cash flow statements highlight the company’s ability to fund operations and investments without excessive reliance on external financing.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates TOL intrinsic value between $108.01 – $131.63 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
[intrinsic_calculator]
Common questions about TOL valuation
Is Toll Brothers, Inc. (TOL) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Toll Brothers, Inc. (TOL) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is TOL a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether TOL trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is TOL’s P/E ratio?
You can see TOL’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for TOL?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is TOL a good long-term investment?
Whether TOL fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
TOL
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Daily snapshot
4.01
Trading Metrics:
| Open: | 139.53 | Previous Close: | 137.16 | |
| Day Low: | 139.31 | Day High: | 146.45 | |
| Year Low: | 104.09 | Year High: | 168.36 | |
| Price Avg 50: | 138.26 | Price Avg 200: | 140.41 | |
| Volume: | 705240 | Average Volume: | 1.169M |
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Login — it's freeTOL full analysis
Welcome to MARKETSNAP’s SWOT analysis for Toll Brothers, a heavyweight in the luxury homebuilding space. If you’re a long-term investor looking to build wealth through smart stock picks, you’re in the right place. Today, we’re diving deep into Toll Brothers, a company that’s been shaping the high-end housing market for decades. Let’s unpack their current standing, recent developments, and where they might be headed, all through a detailed SWOT framework. Stick around, because I’ve got some juicy insights from their…
