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TOL Financials Toll Brothers, Inc.

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →

Growth & profitability

  • Revenue has grown 9.2% per year over the past 5 years.
  • Net income has grown faster than revenue (24.7% vs 9.2% per year).
  • Operating margin has expanded, at 15.7% in the latest year.
  • Free cash flow has grown 2.7% per year over the past 5 years.

Shareholder returns

  • Dividends have been paid for 9 consecutive years, consuming 7.2% of earnings and 9.5% of free cash flow.
  • The dividend has grown 11.4% per year over the past 5 years.
Revenue & net income
$0 $5B $11B 2011 2013 2015 2017 2019 2021 2023 2025
RevenueNet income
Margins (gross / operating / net)
0% 14% 28% 2011 2013 2015 2017 2019 2021 2023 2025
GrossOperatingNet
Return on equity & assets (ROE / ROA)
0% 11% 21% 2011 2013 2015 2017 2019 2021 2023 2025
ROEROA
Free cash flow (CFO − capex)
-$596M $320M $1B $0 2011 2013 2015 2017 2019 2021 2023 2025
Free cash flow
Cash vs total debt
$0 $819M $2B 2011 2013 2015 2017 2019 2021 2023 2025
CashTotal debt
Cash flow: operating / investing / financing
-$1B $67M $1B $0 2011 2013 2015 2017 2019 2021 2023 2025
OperatingInvestingFinancing

Key annual figures

FYRevenueNet incomeGross MOp MROEROAFCFTotal debtCash
2025 $11.0B $1.3B 25.1% 15.7% 16.3% 9.3% $1.0B $1.3B
2024 $10.8B $1.6B 27.9% 18.8% 20.5% 11.8% $937M $1.3B
2023 $10.0B $1.4B 26.4% 17.3% 20.2% 11.0% $1.2B $1.3B
2022 $10.3B $1.3B 24.2% 14.7% 21.4% 10.5% $915M $1.3B
2021 $8.8B $834M 22.1% 11.6% 15.7% 7.2% $1.2B $1.6B
2020 $7.1B $447M 20.0% 7.8% 9.2% 4.0% $899M $1.4B
2019 $7.2B $590M 21.6% 9.4% 11.6% 5.4% $351M $1.3B
2018 $7.1B $748M 22.5% 11.0% 15.7% 7.3% $1.2B
2017 $5.8B $535M 21.5% 11.1% 11.8% 5.7% $713M
2016 $382M 9.0% 3.9% $634M
2015 $363M 8.6% 3.9% $919M
2014 $340M 8.8% 4.0% $586M
2013 $171M 5.1% 2.5% -$596M $773M
2012 $487M 15.6% 7.9% -$183M $773M
2011 $40M 1.5% 0.8% $43M $906M

Valuation over time

How the market has priced TOL against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

Price / earnings (P/E)
0.0 5.6 11.3 Mar '23 Sep '23 Mar '24 Sep '24 Mar '25 Sep '25 Mar '26 Sep '26
P/E
Price / sales (P/S)
0.0 0.7 1.4 Mar '23 Sep '23 Mar '24 Sep '24 Mar '25 Sep '25 Mar '26 Sep '26
P/S
Dividend yield (%)
0.0 0.8 1.6 Mar '23 Sep '23 Mar '24 Sep '24 Mar '25 Sep '25 Mar '26 Sep '26
Dividend yield %

Frequently asked questions

Is TOL growing its revenue and profit?

Over the past 5 years, Toll Brothers, Inc.'s revenue has grown 9.2% per year, and net income grown 24.7% per year. These are computed facts, not advice.

How much debt does TOL have?

As of FY2025, Toll Brothers, Inc. reported — of total debt against $1.3B of cash.

What is TOL's profit margin?

In FY2025, gross margin was 25.1%, operating margin 15.7%, and net margin 12.3%.

What is TOL's P/E ratio?

As of Sep '26, Toll Brothers, Inc. traded at a price-to-earnings ratio of about 9.7× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.