TOL financial statements

The full income statement, balance sheet, and cash-flow statement for Toll Brothers Inc. (TOL), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-04 102.7M2024-07 101.0M2024-10 100.0M2025-01 99.4M2025-04 98.2M2025-07 96.4M2025-10 95.0M2026-01 94.7M2026-04 93.5M-8.9% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofOct 31 ’25	as ofOct 31 ’24	as ofOct 31 ’23	as ofOct 31 ’22	as ofOct 31 ’21
Revenue	11.0B YoY+1.1%	10.8B YoY+8.5%	9.99B YoY-2.7%	10.3B YoY+16.9%	8.79B YoY+24.2%
Cost of revenue	8.21B YoY+5.0%	7.82B YoY+6.3%	7.36B YoY-5.5%	7.79B YoY+13.8%	6.85B YoY+21.0%
Selling, general & administrative	1.03B YoY+5.2%	982M YoY+8.0%	909M YoY-7.0%	978M YoY+6.0%	922M YoY+6.3%
Operating income	1.72B YoY-15.7%	2.04B YoY+18.3%	1.72B YoY+14.3%	1.51B YoY+47.8%	1.02B YoY+85.5%
Interest expense	—	—	—	0.00	0.00 YoY-100.0%
Interest & investment income	—	—	—	—	4.32M YoY-56.8%
Other non-operating income	51.7M YoY-25.4%	69.3M YoY+2.6%	67.5M YoY-60.6%	171M YoY+322.0%	40.6M YoY+13.8%
Equity-method income	19.1M YoY+179.9%	-23.8M YoY-147.6%	50.1M YoY+111.2%	23.7M YoY-68.0%	74.0M YoY+7709.6%
Income tax	445M YoY-13.5%	514M YoY+9.4%	470M YoY+12.7%	417M YoY+56.4%	267M YoY+90.1%
	1.35B YoY-14.3%	1.57B YoY+14.5%	1.37B YoY+6.7%	1.29B YoY+54.3%	834M YoY+86.7%
Net income to non-controlling interest	986K YoY-9.8%	1.09M YoY+64.1%	666K YoY+940.6%	64.0K YoY+100.9%	-6.77M YoY-67600.0%
	$13.49 YoY-10.1%	$15.01 YoY+21.4%	$12.36 YoY+13.4%	$10.90 YoY+64.4%	$6.63 YoY+95.0%
EPS (basic)	$13.60 YoY-10.3%	$15.16 YoY+21.6%	$12.47 YoY+13.2%	$11.02 YoY+64.0%	$6.72 YoY+95.9%
	99.0M YoY-4.5%	104M YoY-5.8%	110M YoY-5.8%	117M YoY-5.9%	124M YoY-4.6%
	99.8M YoY-4.7%	105M YoY-5.7%	111M YoY-5.9%	118M YoY-6.2%	126M YoY-4.1%
Dividends per share	$0.98 YoY+8.9%	$0.90 YoY+8.4%	$0.83 YoY+7.8%	$0.77 YoY+24.2%	$0.62 YoY+40.9%
Balance Sheet	as ofOct 31 ’25	as ofOct 31 ’24	as ofOct 31 ’23	as ofOct 31 ’22	as ofOct 31 ’21
Cash & equivalents	1.26B YoY-3.4%	1.30B YoY+0.2%	1.30B YoY-3.5%	1.35B YoY-17.8%	1.64B YoY+19.5%
	14.5B YoY+8.6%	13.4B YoY+6.7%	12.5B YoY+1.9%	12.3B YoY+6.5%	11.5B YoY+4.3%
Property, plant & equipment	273M YoY-39.6%	453M YoY+39.8%	324M YoY+12.6%	288M YoY-7.3%	310M YoY-1.8%
Operating lease right-of-use	109M YoY+0.6%	108M YoY+5.4%	103M YoY-11.9%	117M YoY+21.2%	96.3M YoY-8.3%
	6.23B YoY+9.7%	5.68B YoY-0.6%	5.71B YoY-8.8%	6.27B YoY+1.1%	6.20B YoY+1.0%
Long-term debt	1.74B YoY+9.0%	1.60B YoY+0.1%	1.60B YoY-20.0%	2.00B YoY-17.0%	2.40B YoY-9.7%
Operating lease liability (total)	128M YoY-0.2%	129M YoY+3.8%	124M YoY-11.3%	140M YoY+20.1%	116M YoY-6.8%
	8.27B YoY+7.8%	7.67B YoY+12.9%	6.80B YoY+13.2%	6.01B YoY+13.4%	5.30B YoY+8.6%
Preferred stock	0.00	0.00	0.00	0.00	0.00
Common stock	1.03M YoY-8.9%	1.13M YoY+0.0%	1.13M YoY-11.7%	1.28M YoY+0.0%	1.28M YoY-16.4%
Additional paid-in capital	687M YoY-1.1%	695M YoY-0.5%	699M YoY-2.5%	717M YoY+0.3%	714M YoY-0.4%
Retained earnings	8.57B YoY+5.2%	8.15B YoY+22.1%	6.68B YoY+8.3%	6.17B YoY+24.1%	4.97B YoY-3.8%
Treasury stock	1.01B YoY-16.1%	1.21B YoY+95.4%	619M YoY-32.4%	916M YoY+134.0%	392M YoY-60.9%
Accumulated other comprehensive income	22.3M YoY-28.8%	31.3M YoY-23.5%	40.9M YoY+8.8%	37.6M YoY+3292.1%	1.11M YoY+115.4%
Non-controlling interest	15.4M YoY-2.4%	15.8M YoY-1.6%	16.0M YoY+1.9%	15.8M YoY-65.3%	45.4M YoY-13.0%
Total equity incl. non-controlling	8.29B YoY+7.8%	7.69B YoY+12.8%	6.81B YoY+13.1%	6.02B YoY+12.8%	5.34B YoY+8.4%
Total liabilities & equity	14.5B YoY+8.6%	13.4B YoY+6.7%	12.5B YoY+1.9%	12.3B YoY+6.5%	11.5B YoY+4.3%
	103M YoY-8.9%	113M YoY+0.0%	113M YoY-11.7%	128M YoY+0.0%	128M YoY-16.3%
	94.8M YoY-5.0%	99.8M YoY-3.9%	104M YoY-5.3%	110M YoY-8.7%	120M YoY-5.1%
	95.0M YoY-5.0%	100M YoY-3.9%	104M YoY-6.0%	111M YoY-8.0%	120M YoY-3.6%
Cash Flow	as ofOct 31 ’25	as ofOct 31 ’24	as ofOct 31 ’23	as ofOct 31 ’22	as ofOct 31 ’21
	1.11B YoY+10.1%	1.01B YoY-20.2%	1.27B YoY+28.3%	987M YoY-24.3%	1.30B YoY+29.3%
Depreciation & amortization	82.1M YoY+1.1%	81.2M YoY+6.2%	76.5M YoY-0.4%	76.8M YoY+0.7%	76.3M YoY+10.7%
Share-based compensation	30.8M YoY+4.3%	29.6M YoY+19.2%	24.8M YoY+17.6%	21.1M YoY-9.0%	23.2M YoY-4.7%
Deferred income taxes	86.7M YoY+208.0%	-80.3M YoY-320.3%	36.5M YoY+138.0%	-95.8M YoY-911.2%	11.8M YoY-87.9%
Change in inventory	521M YoY-9.5%	576M YoY+2492.0%	22.2M YoY-96.4%	619M YoY+215.4%	196M YoY+155.6%
	-310M YoY-85.0%	-168M YoY-11.3%	-151M YoY+1.7%	-153M YoY-3516.1%	-4.24M YoY+97.6%
Capital expenditure	86.2M YoY+17.0%	73.6M YoY+0.9%	73.0M YoY+1.7%	71.7M YoY+7.2%	66.9M YoY-39.0%
Free cash flow	1.03B YoY+9.6%	937M YoY-21.5%	1.19B YoY+30.4%	915M YoY-26.0%	1.24B YoY+37.6%
Acquisitions	0.00	0.00	0.00	0.00	0.00 YoY-100.0%
Other investing activities	1.68M YoY-48.2%	3.24M	0.00 YoY-100.0%	196K YoY-69.9%	652K YoY-6.6%
	-834M YoY-2.1%	-816M YoY+30.2%	-1.17B YoY-4.5%	-1.12B YoY-10.7%	-1.01B YoY-34.2%
Long-term debt issued	498M	0.00	0.00	0.00	0.00
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	651M YoY+3.8%	627M YoY+11.7%	562M YoY+3.5%	543M YoY+43.5%	378M YoY-40.3%
Dividends paid	97.1M YoY+3.9%	93.4M YoY+2.5%	91.1M YoY+2.5%	88.9M YoY+16.0%	76.6M YoY+35.4%
Net change in cash	-31.5M YoY-220.7%	26.1M YoY+148.1%	-54.2M YoY+81.0%	-286M YoY-199.3%	288M YoY+274.0%
Income taxes paid	372M YoY-32.3%	550M YoY-5.9%	585M YoY+66.7%	351M YoY+52.6%	230M YoY+392.1%
Valuation Ratios	as ofOct 31 ’25	as ofOct 31 ’24	as ofOct 31 ’23	as ofOct 31 ’22	as ofOct 31 ’21
Market cap	12.8B YoY-12.5%	14.6B YoY+99.0%	7.36B YoY+54.3%	4.77B YoY-34.9%	7.32B YoY+37.3%
P/E	9.5× YoY+2.1%	9.3× YoY+73.8%	5.4× YoY+44.7%	3.7× YoY-77.4%	16.4× YoY+38.2%
P/S	1.2× YoY-13.4%	1.4× YoY+83.4%	0.7× YoY+58.7%	0.5× YoY-55.1%	1.0× YoY+34.0%
P/B	1.6× YoY-18.8%	1.9× YoY+76.3%	1.1× YoY+36.4%	0.8× YoY-45.4%	1.5× YoY+27.5%
P/FCF	12.5× YoY-20.1%	15.6× YoY+153.6%	6.2× YoY+18.3%	5.2× YoY-36.0%	8.2× YoY-30.3%
	10.5% YoY-2.1%	10.7% YoY-42.5%	18.6% YoY-30.9%	27.0% YoY+342.3%	6.1% YoY-27.6%
	8.0% YoY+25.2%	6.4% YoY-60.6%	16.2% YoY-15.5%	19.2% YoY+56.4%	12.3% YoY+43.5%
	0.73% YoY+18.2%	0.61% YoY-47.6%	1.2% YoY-34.3%	1.8% YoY+73.5%	1.0% YoY-1.0%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: TOL's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all TOL filings on SEC EDGAR → Not investment advice.