Toll Brothers, Inc. (TOL) Stock

Toll Brothers, Inc. (TOL) is a Industrials stock trading at $149.92 (as of 2026-07-24), with a market capitalization of $14.01B and a trailing P/E of 10.9. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Toll Brothers, Inc. designs, builds, markets, sells, and arranges financing for detached and attached homes, operating in Traditional Home Building and City Living segments. It also develops, builds, markets, and sells condominiums, develops land, and develops, owns, and operates golf courses and other residential-related real estate activities, serving homebuyers in the United States.

Understand Toll Brothers, Inc.: how it makes money

Toll Brothers designs, builds, markets, and sells luxury detached and attached homes in U.S. residential communities, and also sells condominiums through its City Living activities, generating revenue primarily from home and condominium sales.

Profit is driven by converting signed home contracts and community operations into home and condominium deliveries, while cancellations and customer incentives influence the revenue quality from those contracts.

Business quality (Solid): Clear operating focus on home sales, with trackable signals like net new contract value and cancellations, but investor visibility depends on delivery and contract flow since financial results are tied to the home building cycle.

Valuation: At 11× earnings, TOL trades 65% below the Construction average (30×). Note: one-time items can distort reported P/E.

Bull case

  • Contract-to-delivery pipeline is measurable: The company discloses Net New Contract Value Signed and Homes Delivered, which together help track how new demand is translating into reported deliveries.
  • Luxury positioning with defined customer mix: Luxury shares are disclosed, including Luxury Move-Up Share of Home Sales Revenues and Luxury First-Time Share of Home Sales Revenues, which can support targeting of higher-end product profiles.

Bear case

  • Demand softness signs show up in cancellations and incentives: The Quarterly Cancellation Rate for Signed Contracts is 4.8%, and Average Incentives as a Percentage of Delivered Price is 8.0%, which can indicate customers need more support to close deals.
  • Financing profile can affect sales velocity and deal terms: Share of Buyers Paying All Cash is 23.0% and Average Loan-to-Value for Mortgage Buyers is 69.0%, so a portion of buyers depend on mortgage financing and related terms.
Valuation — source: SEC EDGAR (first-party)
Price$149.92
Market Cap$14.01B
P/E Ratio10.9
EV / EBITDA7.6
Price / Book1.65
Price / Sales1.27
FCF Yield11.7%
DCF Value (model)$301.83
DCF Upside vs Price101.3%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$10.97B
Net Margin12.3%
Revenue Growth (YoY)-7.6%
EPS Growth (YoY)-22.4%
FCF Growth (YoY)-208.3%
Valuation vs Sector & Industry
Stock P/E10.9
Sector P/E (Industrials)28.3
Industry P/E (Construction)24.6
vs Sector-61.5%
vs Industry-55.7%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($1.36B)
Institutional Holders Tracked10
Congressional Trades (recent)1
Company
SectorIndustrials
IndustryConstruction
CEODouglas C. Yearley Jr.
Employees4,900
CountryUS
IPO Date1986-07-08

Related Companies (Business model: Homebuilder; 8 closest by market cap; US-domiciled)

  • D.R. Horton, Inc. (DHI)
  • PulteGroup, Inc. (PHM)
  • NVR, Inc. (NVR)
  • Taylor Morrison Home Corporation (TMHC)
  • Everus Construction Group, Inc. (ECG)
  • Meritage Homes Corporation (MTH)
  • M/I Homes, Inc. (MHO)
  • KB Home (KBH)
TOL earnings history · TOL institutional & insider holders · TOL KPIs & operating metrics · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-07-24.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.