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Toll Brothers, Inc.

TOLCIK 0000794170

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Compare TOL

Operating performance

5 years of operating performance (2021 - 2025)

Revenue, profitability, and free cash flow are shown together so you can see scale, margin conversion, and cash generation on one screen.

Income statement Cash flow

Five-year trend

Revenue
Operating Income
Free Cash Flow

Revenue

N/A

—

FY 2025N/A

Open

Operating Income

-15.7% YoY

$1.7B

FY 2025-15.7%

Open

Compound growth

Annualised change across the filed history.

Free Cash Flow CAGR 5Y

2.7%

Operating Income CAGR 3Y

4.5%

Directional read

Filing-backed read on scale, margins, and cash flow.

Free cash flow was positive in 5 of the last 5 reported fiscal years.

Operating performance

5 years of operating performance (2021 - 2025)

Revenue, profitability, and free cash flow are shown together so you can see scale, margin conversion, and cash generation on one screen.

Income statement Cash flow

Five-year trend

Revenue
Operating Income
Free Cash Flow

Revenue

N/A

—

FY 2025N/A

Open

Operating Income

-15.7% YoY

$1.7B

FY 2025-15.7%

Open

Compound growth

Annualised change across the filed history.

Free Cash Flow CAGR 5Y

2.7%

Operating Income CAGR 3Y

4.5%

Directional read

Filing-backed read on scale, margins, and cash flow.

Free cash flow was positive in 5 of the last 5 reported fiscal years.

Valuation snapshot

Where the price sits against the anchors

A target is published only when both the filing-backed DCF and the peer fair value clear the confidence gate.

Current price

—

Market cap —

Fair value estimate

Withheld

Filing-backed DCF failed the evidence gate.

Implied upside

—

DCF: Debt and bridge-cash inputs are required to translate enterprise value into equity value.

Valuation anchors

Scale: $78.17 – $84.69

Peer

Evidence coverage

Low · 40%

This score describes input coverage, not the probability that a valuation or investment return will be correct.

Live or stored price is available — not met
Peer valuation meets at least fallback breadth — met
Filing-backed DCF qualifies — not met
EV bridge inputs are complete — not met
Five years of annual FCF history exist — met

Evidence gate detail

Filing-backed DCF failed the evidence gate.

DCF: Debt and bridge-cash inputs are required to translate enterprise value into equity value.

Active DCF policy

Policy

Filing-Backed v2

Basis

Operating cash flow less capex (firm-value proxy)

Diluted shares

Bridge

Net debt + securities

Audit valuation details

Market context

Current price and fair-value anchors

Market price unavailable

Current vs Fair Value

Current price stacked against the same public-equity anchors shown in the confidence-gated hero.

Peer Fair ValueView math$81.43

How to read this

Only the peer fair value and the filing-backed DCF feed this section.
When both qualify, the confidence-gated target appears alongside them as the published overview read.
Open the math breakdown on any anchor for the underlying bridge.

Capital structure

Cash, debt, and carrying capacity

The overview keeps the capital structure bridge close to the cash-generation picture so fair value can be read in equity terms.

TOL enterprise value

Balance sheet

FY 2025 · filed Dec 19, 2025

Cash & Securities

Cash, cash equivalents, and marketable securities.

$1.3B

Total Debt

Current and long-term debt.

—

Net Cash / Debt

Cash and securities less total debt.

—

Equity

Reported stockholders' equity.

Peer context

Saved comparables and what they imply

The overview keeps peer evidence concise here and sends detailed bridging to the relative-valuation tab.

Open relative valuation

Peer fair value

$81.43

Per-share fair value from the weighted peer set.

Average P/E

8.09x

Price to earnings across covered peers.

Average P/S

0.49x

Price to sales across covered peers.

Intrinsic context

DCF range and implied growth

The overview surfaces the baseline intrinsic read and the reverse-DCF question, then sends the deeper workbench to the intrinsic tab.

Open intrinsic valuation

Debt and bridge-cash inputs are required to translate enterprise value into equity value.

Company profile

Filing and research context

Identifiers, classification, and listing detail behind every figure on this page.

Ticker: TOL
CIK: 0000794170
Industry: —
SIC description: Operative Builders
Exchange: NYSE
Fiscal year end: Oct 31
State / jurisdiction

Valuation snapshot

Where the price sits against the anchors

A target is published only when both the filing-backed DCF and the peer fair value clear the confidence gate.

Current price

—

Market cap —

Fair value estimate

Withheld

Filing-backed DCF failed the evidence gate.

Implied upside

—

DCF: Debt and bridge-cash inputs are required to translate enterprise value into equity value.

Valuation anchors

Scale: $78.17 – $84.69

Peer

Evidence coverage

Low · 40%

This score describes input coverage, not the probability that a valuation or investment return will be correct.

Live or stored price is available — not met
Peer valuation meets at least fallback breadth — met
Filing-backed DCF qualifies — not met
EV bridge inputs are complete — not met
Five years of annual FCF history exist — met

Evidence gate detail

Filing-backed DCF failed the evidence gate.

DCF: Debt and bridge-cash inputs are required to translate enterprise value into equity value.

Active DCF policy

Policy

Filing-Backed v2

Basis

Operating cash flow less capex (firm-value proxy)

Diluted shares

Bridge

Net debt + securities

Audit valuation details

Market context

Current price and fair-value anchors

Market price unavailable

Current vs Fair Value

Current price stacked against the same public-equity anchors shown in the confidence-gated hero.

Peer Fair ValueView math$81.43

How to read this

Only the peer fair value and the filing-backed DCF feed this section.
When both qualify, the confidence-gated target appears alongside them as the published overview read.
Open the math breakdown on any anchor for the underlying bridge.

Capital structure

Cash, debt, and carrying capacity

The overview keeps the capital structure bridge close to the cash-generation picture so fair value can be read in equity terms.

TOL enterprise value

Balance sheet

FY 2025 · filed Dec 19, 2025

Cash & Securities

Cash, cash equivalents, and marketable securities.

$1.3B

Total Debt

Current and long-term debt.

—

Net Cash / Debt

Cash and securities less total debt.

—

Equity

Reported stockholders' equity.

Peer context

Saved comparables and what they imply

The overview keeps peer evidence concise here and sends detailed bridging to the relative-valuation tab.

Open relative valuation

Peer fair value

$81.43

Per-share fair value from the weighted peer set.

Average P/E

8.09x

Price to earnings across covered peers.

Average P/S

0.49x

Price to sales across covered peers.

Intrinsic context

DCF range and implied growth

The overview surfaces the baseline intrinsic read and the reverse-DCF question, then sends the deeper workbench to the intrinsic tab.

Open intrinsic valuation

Debt and bridge-cash inputs are required to translate enterprise value into equity value.

Company profile

Filing and research context

Identifiers, classification, and listing detail behind every figure on this page.

Ticker: TOL
CIK: 0000794170
Industry: —
SIC description: Operative Builders
Exchange: NYSE
Fiscal year end: Oct 31
State / jurisdiction

Cash quality

Latest annual cash generation after capital spending.

Operating Cash Flow

Cash from operations.

$1.1B

Capital Expenditures

Capital Expenditures shown as an outflow.

$-86.2M

Free Cash Flow

Operating cash flow minus capital expenditures.

$1B

CFO / Net Income

0.83x

FCF / Net Income

0.76x

Operating cash flow covered 83% of net income in the latest annual filing.
Free cash flow converted 76% of net income after capital spending.
Latest annual free cash flow remained positive.

Quality and risk

Solvency, quality, and risk

Altman, Piotroski, liquidity, and leverage sit together so the valuation read can be judged against balance-sheet reality.

Altman Z-Score

Distress risk from the latest annual balance sheet.

N/A

0.0 distress1.8 grey3.0+ safe

Piotroski F-Score

Nine filing-backed checks on profitability, leverage, and efficiency.

3/ 9

warning

Toll Brothers, Inc.

Toll Brothers, Inc.

5 years of operating performance (2021 - 2025)

Five-year trend

Compound growth

Directional read

5 years of operating performance (2021 - 2025)

Five-year trend

Compound growth

Directional read

Where the price sits against the anchors

Evidence coverage

Active DCF policy

Current price and fair-value anchors

Current vs Fair Value

Cash, debt, and carrying capacity

Balance sheet

Saved comparables and what they imply

DCF range and implied growth

Filing and research context

Where the price sits against the anchors

Evidence coverage

Active DCF policy

Current price and fair-value anchors

Current vs Fair Value

Cash, debt, and carrying capacity

Balance sheet

Saved comparables and what they imply

DCF range and implied growth

Filing and research context

Cash quality

Solvency, quality, and risk

Altman Z-Score

Piotroski F-Score

Comparable companies

Enterprise value