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Toll Brothers (TOL)

Toll Brothers, Inc., A FORTUNE 500 Company, is the nation's leading builder of luxury homes. The Company began business over fifty years ago in 1967 and became a public company in 1986. The Company serves first-time, move-up, empty-nester, active-adult, affordable luxury and second-home buyers, as well as urban and suburban renters. It operates in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. Toll Brothers builds an array of luxury residential single-family detached, attached home, master planned resort-style golf, and urban low-, mid-, and high-rise communities, principally on land it develops and improves. The Company acquires and develops rental apartment and commercial properties through Toll Brothers Apartment Living, Toll Brothers Campus Living, and the affiliated Toll Brothers Realty Trust, and develops urban low-, mid-, and high-rise for-sale condominiums through Toll Brothers City Living. The Company operates its own architectural, engineering, mortgage, title, land development and land sale, golf course development and management, and landscape subsidiaries. Toll Brothers operates its own alarm monitoring company through TBI Smart Home Solutions, a complete home technology division. In addition to providing security monitoring, TBI Smart Home Solutions offers homeowners a full range of low voltage options, allowing buyers to maximize the potential of technology in their new home. The Company also operates its own lumber distribution, house component assembly, and manufacturing operations. Through its Gibraltar Real Estate Capital joint venture, the Company provides builders and developers with land banking, non-recourse debt and equity capital.

Company profile

Ticker
TOL
Exchange
CEO
John McLean
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
TOLL BROTHERS INC
SEC CIK
Subsidiaries
1.Dominion III Corp. • 2.ESE Consultants, Inc. • 3.ESE Consultants, Inc. • 4.ESE of North Carolina, PC, a North Carolina professional corporation. • 5.First Brandywine Investment Corp. • 6.First Huntingdon Finance Corp. • 7.GCAM Holding Co., Inc. • 8.Hampton Pointe Club, Inc. • 9.HQZ Acquisitions, Inc. • 10.Jupiter Country Club, Inc. ...
IRS number
232416878

TOL stock data

Calendar

2 Jun 22
18 Aug 22
31 Oct 22
Quarter (USD) Apr 22 Jan 22 Oct 21 Jul 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Oct 21 Jan 21 Oct 20 Oct 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 587.9M 587.9M 587.9M 587.9M 587.9M 587.9M
Cash burn (monthly) 45.47M 13.21M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 165.85M 48.18M n/a n/a n/a n/a
Cash remaining 422.05M 539.72M n/a n/a n/a n/a
Runway (months of cash) 9.3 40.9 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
24 Feb 22 Garvey Christine Common Stock Gift Dispose G Yes No 0 717 0 9,626
24 Jan 22 Garvey Christine Common Stock Gift Dispose G Yes No 0 1,038 0 10,343
19 Jan 22 Robert Parahus Common Stock Option exercise Acquire M No No 35.16 4,000 140.64K 21,925
19 Jan 22 Robert Parahus Common Stock Option exercise Acquire M No No 32.22 3,750 120.83K 17,925
19 Jan 22 Robert Parahus Stock Options Common Stock Option exercise Dispose M No No 35.16 4,000 140.64K 0
19 Jan 22 Robert Parahus Stock Options Common Stock Option exercise Dispose M No No 32.22 3,750 120.83K 0
18 Jan 22 Toll Robert I Common Stock Option exercise Acquire M Yes No 0 3,796 0 6,472,255
18 Jan 22 Toll Robert I RSU Common Stock Option exercise Dispose M No No 0 3,796 0 0
18 Jan 22 John A McLean Common Stock Option exercise Acquire M No No 0 4,355 0 10,117
18 Jan 22 John A McLean RSU Common Stock Option exercise Dispose M No No 0 4,355 0 0
13F holders Current Prev Q Change
Total holders 378 408 -7.4%
Opened positions 48 68 -29.4%
Closed positions 78 111 -29.7%
Increased positions 123 159 -22.6%
Reduced positions 149 122 +22.1%
13F shares Current Prev Q Change
Total value 10.26B 5.11B +100.7%
Total shares 96.78M 98.38M -1.6%
Total puts 1.56M 1.81M -14.0%
Total calls 1.38M 855.8K +61.0%
Total put/call ratio 1.1 2.1 -46.6%
Largest owners Shares Value Change
Vanguard 11.76M $524.56M +1.2%
BLK Blackrock 10.99M $490.05M -0.2%
Greenhaven Associates 5.36M $238.96M +2.8%
Massachusetts Financial Services 4.72M $210.73M +4.7%
Dimensional Fund Advisors 3.96M $176.75M +5.0%
STT State Street 3.82M $170.42M -6.1%
Capital World Investors 3.24M $144.69M +66.3%
BK Bank Of New York Mellon 2.94M $131.21M +0.4%
JPM JPMorgan Chase & Co. 2.82M $125.69M -3.3%
Capital International Investors 2.78M $124.08M +31.7%
Largest transactions Shares Bought/sold Change
Capital World Investors 3.24M +1.29M +66.3%
FMR 1.05M -1.11M -51.4%
Holocene Advisors 1.04M +1.04M NEW
Balyasny Asset Management 8.75K -841.97K -99.0%
Wedge Capital Management L L P 5.62K -771.26K -99.3%
Capital International Investors 2.78M +669.34K +31.7%
Oaktree Capital Management 597K +597K NEW
MNGPF Man 0 -551.33K EXIT
Wasatch Advisors 0 -486.07K EXIT
BCS Barclays 777.41K -449.95K -36.7%

Financial report summary

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Competition
Comstock Holding
Risks
  • We are subject to demand fluctuations in the housing industry. Any reduction in demand would adversely affect our business, results of operations, and financial condition.
  • Adverse changes in economic conditions in markets where we conduct our operations and where prospective purchasers of our homes live could reduce the demand for homes and, as a result, could adversely affect our business, results of operations, and financial condition.
  • Significant inflation, higher interest rates or deflation could adversely affect our business and financial results.
  • Our ability to execute on our business strategies is uncertain, and we may be unable to achieve our goals.
  • Negative publicity could negatively impact sales, which could cause our revenues or results of operations to decline.
  • A significant portion of our revenues and income from operations is generated from California in our Traditional Home Building segment.
  • In the construction of a high-rise building, whether a for-sale or a for-rent property, we incur significant costs before we can begin construction, sell and deliver the units to our customers, or commence the collection of rent and recover our costs. We may be subject to delays in construction that could lead to higher costs that could adversely affect our operating results. Changing market conditions during the construction period could negatively impact sales prices and rents, which could adversely affect our operating results.
  • Increases in cancellations of existing agreements of sale could have an adverse effect on our business.
  • The home building industry is highly competitive, and, if other home builders are more successful or offer better value to our customers, our business could decline.
  • If land is not available at reasonable prices, our sales and results of operations could decrease.
  • If the market value of our land and homes declines, our results of operations will likely decrease.
  • We rely on subcontractors to construct our homes and on building supply companies to supply components for the construction of our homes. The failure of our subcontractors to properly construct our homes and adopt appropriate jobsite safety practices or defects in the components we obtain from building supply companies could have an adverse effect on us.
  • We participate in certain joint ventures where we may be adversely impacted by the failure of the joint venture or its participants to fulfill their obligations.
  • Government regulations and legal challenges may delay the start or completion of our communities, increase our expenses, or limit our home building activities, which could have a negative impact on our operations.
  • Product liability claims and litigation and warranty claims that arise in the ordinary course of business may be costly, which could adversely affect our business.
  • Our multi-unit buildings are subject to fluctuations in delivery volume due to their extended construction time, levels of pre-sales, and quick delivery of units once buildings are complete.
  • Increases in taxes or government fees could increase our costs, and adverse changes in tax laws or their interpretation could reduce demand for our homes and negatively affect our operating results.
  • We are subject to extensive environmental regulations, which may cause us to incur additional operating expenses, subject us to longer construction cycle times, or result in material fines or harm to our reputation.
  • Failure by our employees or representatives to comply with laws and regulations may harm us.
  • If we experience shortages or increased costs of labor and supplies or other circumstances beyond our control, there could be delays or increased costs in developing our communities, which could adversely affect our operating results.
  • Our quarterly operating results may fluctuate due to the seasonal nature of our business.
  • We are implementing a new enterprise resource planning system, and challenges with the implementation of the system may impact our business and operations.
  • If we are not able to obtain suitable financing, or if the interest rates on our debt are increased, or if our credit ratings are lowered, our business and results of operations may decline.
  • If home buyers are not able to obtain suitable financing, our results of operations may decline.
  • If our ability to resell mortgages to investors is impaired, our home buyers may be required to find alternative financing.
  • Public health issues such as the COVID-19 pandemic have adversely affected, and could in the future adversely affect, our business or financial results.
  • Adverse weather conditions, natural disasters, and other conditions could disrupt the development of our communities, which could harm our sales and results of operations.
  • Increased domestic or international instability could have an adverse effect on our operations.
  • We could be adversely impacted by the loss of key management personnel or if we fail to attract qualified personnel.
  • Information technology failures and data security breaches could harm our business.

Content analysis

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Positive
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Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Good
New words: Bloomberg, BSBY, extremely, healthy, Index, lesser, moderated, moderation, negatively, noncontrolling, notably, return, slower, summer
Removed: bore, NaN, prepayment, producing, repaid, voluntarily