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TOL Toll Brothers

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
IRS number
232416878

TOL stock data

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Calendar

3 Jun 21
28 Jul 21
31 Oct 21
Quarter (USD)
Apr 21 Jan 21 Oct 20 Jul 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jan 21 Oct 20 Oct 19 Oct 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 746.4M 746.4M 746.4M 746.4M 746.4M 746.4M
Cash burn (monthly) 77.83M 2.73M (positive/no burn) (positive/no burn) 9.35M (positive/no burn)
Cash used (since last report) 229.05M 8.05M n/a n/a 27.52M n/a
Cash remaining 517.35M 738.35M n/a n/a 718.88M n/a
Runway (months of cash) 6.6 270.0 n/a n/a 76.9 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
7 Jul 21 Garvey Christine Common Stock Gift Aquire G Yes No 0 53 0 53
7 Jul 21 Garvey Christine Common Stock Gift Dispose G Yes No 0 53 0 7,064
18 Jun 21 Toll Robert I Common Stock Gift Dispose G No No 0 1,000,000 0 3,930,001
17 Jun 21 Paul E Shapiro Common Stock Gift Dispose G No No 0 160 0 116,584
14 Jun 21 Paul E Shapiro Common Stock Gift Dispose G No No 0 440 0 116,744
8 Jun 21 Carl B Marbach Common Stock Sell Dispose S No No 62.8446 17,000 1.07M 77,430
8 Jun 21 Carl B Marbach Common Stock Aquire X No No 20.5 17,000 348.5K 94,430
8 Jun 21 Carl B Marbach Stock Options Common Stock Dispose X No No 20.5 17,000 348.5K 0
4 Jun 21 Garvey Christine Common Stock Sell Dispose S Yes No 62.33 83 5.17K 7,117

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

88.0% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 383 355 +7.9%
Opened positions 80 45 +77.8%
Closed positions 52 54 -3.7%
Increased positions 102 109 -6.4%
Reduced positions 132 136 -2.9%
13F shares
Current Prev Q Change
Total value 6.16B 5.1B +20.7%
Total shares 108.56M 107.8M +0.7%
Total puts 1.28M 3.54M -63.7%
Total calls 1.91M 3.84M -50.2%
Total put/call ratio 0.7 0.9 -27.0%
Largest owners
Shares Value Change
BLK Blackrock 15.45M $876.41M +23.8%
Capital World Investors 13.49M $765.21M +7.5%
Vanguard 10.05M $570.32M -0.3%
FMR 8.34M $473.23M -16.2%
Greenhaven Associates 5.36M $303.83M -0.0%
Massachusetts Financial Services 4.02M $227.89M -1.5%
STT State Street 3.83M $217.24M +2.7%
Dimensional Fund Advisors 3.64M $206.24M -3.8%
BK Bank Of New York Mellon 3.49M $198.07M +1.6%
Eminence Capital 2.02M $114.73M -27.1%
Largest transactions
Shares Bought/sold Change
BLK Blackrock 15.45M +2.97M +23.8%
FMR 8.34M -1.61M -16.2%
Southpoint Capital Advisors 1.9M +1.45M +322.2%
Capital International Investors 1.81M +1.4M +343.1%
Norges Bank 0 -1.24M EXIT
Echo Street Capital Management 110.79K -1.16M -91.3%
GS Goldman Sachs 1.52M -996.93K -39.7%
Capital World Investors 13.49M +946.27K +7.5%
Eminence Capital 2.02M -752.8K -27.1%
Junto Capital Management 746.92K +746.92K NEW

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.
  • 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 selling 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 swings 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 operation.
  • 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
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Good
New words: AOCL, chain, coupled, cycle, dividend, facing, imbalance, inflation, irrespective, outpacing, resale, retirement, steep, strategy
Removed: demographic, distancing, exacerbated, incur, month, recently, site, social, stemming