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
Website
CEO
John McLean
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
TOLL BROTHERS INC
SEC CIK
Corporate docs
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
News

Two New NYC Luxury Buildings Are Coming, Complete With Pet Spas And Artist Live/Work Spaces
16 Aug 22
Toll Brothers City Living And Sculptor Announce Joint Venture To Develop Urban High-Rise Condo Communities In New York City And Jersey City
16 Aug 22
Benzinga Pro's Top 5 Stocks To Watch For Monday, Aug. 15, 2022: BIDU, TOL, PANW, PSTV, GRFX
15 Aug 22
United Rentals (URI), Turner Partner For Sustainable Solutions
20 Jul 22
What 7 Analyst Ratings Have To Say About Toll Brothers
12 Jul 22
Press releases
Toll Brothers Apartment Living® and PGIM Real Estate Announce Joint Venture to Develop 422-Unit Luxury Rental Community in San Diego, California
18 Aug 22
Toll Brothers Announces Opening of Twin Oaks in San Ramon, Calif.
17 Aug 22
Toll Brothers Unveils Three New Luxury Model Homes at Skylar in Valencia, Calif.
16 Aug 22
Toll Brothers Announces Model Homes Now Open and Amenities Coming Soon to Regency at Folsom Ranch Community Near Sacramento, Calif.
10 Aug 22
Toll Brothers Announces New Luxury Home Community Coming Soon to Gilroy, Calif.
8 Aug 22
Analyst ratings and price targets
Current price
Average target
$55.57
Low target
$44.00
High target
$75.00
JP Morgan
Maintains
$48.00
Citigroup
Maintains
$44.00
Wells Fargo
Downgraded
$48.00
UBS
Maintains
$59.00
Raymond James
Maintains
$75.00
RBC Capital
Maintains
$53.00
Wedbush
Maintains
$62.00
Calendar
2 Jun 22
18 Aug 22
31 Oct 22
Financial summary
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Diluted EPS |
Annual (USD) | Oct 21 | Jan 21 | Oct 20 | Oct 19 | |
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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 |
Recent insider trades
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 |
Institutional ownership, Q2 2022
13F holders | Current |
---|---|
Total holders | 378 |
Opened positions | 48 |
Closed positions | 78 |
Increased positions | 123 |
Reduced positions | 149 |
13F shares | Current |
---|---|
Total value | 10.26B |
Total shares | 96.78M |
Total puts | 1.56M |
Total calls | 1.38M |
Total put/call ratio | 1.1 |
Largest owners | Shares | Value |
---|---|---|
Vanguard | 11.76M | $524.56M |
BLK Blackrock | 10.99M | $490.05M |
Greenhaven Associates | 5.36M | $238.96M |
Massachusetts Financial Services | 4.72M | $210.73M |
Dimensional Fund Advisors | 3.96M | $176.75M |
STT State Street | 3.82M | $170.42M |
Capital World Investors | 3.24M | $144.69M |
BK Bank Of New York Mellon | 2.94M | $131.21M |
JPM JPMorgan Chase & Co. | 2.82M | $125.69M |
Capital International Investors | 2.78M | $124.08M |
Financial report summary
?Competition
Comstock HoldingRisks
- 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
?Positive | ||
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Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. sophomore Good
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New words:
Bloomberg, BSBY, extremely, healthy, Index, lesser, moderated, moderation, negatively, noncontrolling, notably, return, slower, summer
Removed:
bore, NaN, prepayment, producing, repaid, voluntarily
Financial reports
Current reports
8-K
Toll Brothers Reports FY 2022 2nd Quarter Results
24 May 22
8-K
Submission of Matters to a Vote of Security Holders
9 Mar 22
8-K
Toll Brothers Reports FY 2022 1st Quarter Results
22 Feb 22
8-K
Departure of Directors or Certain Officers
14 Dec 21
8-K
Toll Brothers Reports FY 2021 4th Quarter Results
7 Dec 21
8-K
Departure of Directors or Certain Officers
12 Nov 21
8-K
Entry into a Material Definitive Agreement
2 Nov 21
8-K
Departure of Directors or Certain Officers
18 Oct 21
8-K
James W. Boyd, current Co-COO, to Retire After 30 Years with the Company
13 Sep 21
8-K
Toll Brothers Reports FY 2021 3rd Quarter Results
24 Aug 21
Registration and prospectus
25-NSE
Exchange delisting
15 Mar 21
S-3ASR
Automatic shelf registration
18 Feb 21
424B5
Prospectus supplement for primary offering
10 Sep 19
FWP
Free writing prospectus
9 Sep 19
POSASR
Automatic shelf registration (post-effective amendment)
9 Sep 19
424B5
Prospectus supplement for primary offering
8 Sep 19
S-8
Registration of securities for employees
7 Jun 19
S-3ASR
Automatic shelf registration
12 Feb 18
424B5
Prospectus supplement for primary offering
18 Jan 18
FWP
Free writing prospectus
17 Jan 18
Other
UPLOAD
Letter from SEC
9 May 19
CORRESP
Correspondence with SEC
23 Apr 19
UPLOAD
Letter from SEC
10 Apr 19
UPLOAD
Letter from SEC
25 May 16
CORRESP
Correspondence with SEC
16 May 16
UPLOAD
Letter from SEC
24 Apr 16
CORRESP
Correspondence with SEC
5 Apr 16
UPLOAD
Letter from SEC
16 Mar 16
UPLOAD
Letter from SEC
7 Apr 14
CORRESP
Correspondence with SEC
30 Mar 14
Ownership
SC 13G/A
Toll Brothers / VANGUARD ownership change
11 Jul 22
SC 13G/A
Toll Brothers / Capital World Investors ownership change
10 Mar 22
4
Toll Brothers / CHRISTINE GARVEY ownership change
27 Feb 22
SC 13G/A
Toll Brothers / Capital World Investors ownership change
11 Feb 22
SC 13G/A
Toll Brothers / VANGUARD ownership change
9 Feb 22
SC 13G/A
Toll Brothers / FMR ownership change
9 Feb 22
SC 13G/A
Toll Brothers / BlackRock ownership change
1 Feb 22
SC 13G/A
Toll Brothers / TOLL ROBERT I ownership change
27 Jan 22
4
Toll Brothers / CHRISTINE GARVEY ownership change
25 Jan 22
4
Toll Brothers / Robert Parahus ownership change
20 Jan 22
Transcripts
2022 Q2
Earnings call transcript
25 May 22
2022 Q1
Earnings call transcript
23 Feb 22
2021 Q4
Earnings call transcript
8 Dec 21
2021 Q3
Earnings call transcript
25 Aug 21
2021 Q2
Earnings call transcript
26 May 21
2021 Q1
Earnings call transcript
24 Feb 21
2020 Q4
Earnings call transcript
8 Dec 20
2020 Q3
Earnings call transcript
26 Aug 20
2020 Q2
Earnings call transcript
28 May 20
2020 Q1
Earnings call transcript
26 Feb 20
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