Toll Brothers (TOL)

Company Profile

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

NYSE

Website

www.tollbrothers.com

CEO

Douglas Yearley

Incorporated

Delaware

Location

Pennsylvania

Fiscal year end

Oct 31

Sector

Construction > New Single-Family Housing Construction (except For-Sale Builders)

Industry (SIC)

Operative Builders

PulteGroup • KB Home • Taylor Morrison Home • NVR • Beazer Homes USA • M.D.C. • Meritage Homes • Hovnanian Enterprises • MI Homes • Dream Finders Homes ...

Former names

TOLL BROTHERS INC

SEC CIK

0000794170

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

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

1M 1Y 5Y

Analyst ratings and price targets

Last 3 months

Average target

$70.00

Low target

$67.00

High target

$73.00

Latest filings (excl ownership)

View all

8-K

Submission of Matters to a Vote of Security Holders

2 Mar 23

Toll Brothers Reports FY 2023 1st Quarter Results

21 Feb 23

8-K

Entry into a Material Definitive Agreement

15 Feb 23

ARS

2022 FY

Annual report to shareholders

25 Jan 23

DEFA14A

Additional proxy soliciting materials

25 Jan 23

19 Dec 22

Toll Brothers Reports FY 2022 4th Quarter Results

6 Dec 22

8-K

Regulation FD Disclosure

1 Sep 22

Transcripts

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TOL

Earnings call transcript

2023 Q1

22 Feb 23

TOL

Earnings call transcript

2022 Q4

7 Dec 22

TOL

Earnings call transcript

2022 Q3

24 Aug 22

TOL

Earnings call transcript

2022 Q2

25 May 22

TOL

Earnings call transcript

2022 Q1

23 Feb 22

TOL

Earnings call transcript

2021 Q4

8 Dec 21

TOL

Earnings call transcript

2021 Q3

25 Aug 21

TOL

Earnings call transcript

2021 Q2

26 May 21

TOL

Earnings call transcript

2021 Q1

24 Feb 21

TOL

Earnings call transcript

2020 Q4

8 Dec 20

Latest ownership filings

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Capital International Investors

Douglas C. Jr. Yearley

Financial summary

Financial statements Chart TOL financial data

Quarter (USD)	Jan 23	Oct 22	Jul 22	Apr 22
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Oct 22	Oct 21	Jan 21	Oct 20
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)	838.88 mm	838.88 mm	838.88 mm	838.88 mm	838.88 mm	838.88 mm
Cash burn (monthly)	186.56 mm	(no burn)	(no burn)	(no burn)	119.25 mm	(no burn)
Cash used (since last report)	312.16 mm	n/a	n/a	n/a	199.55 mm	n/a
Cash remaining	526.72 mm	n/a	n/a	n/a	639.33 mm	n/a
Runway (months of cash)	2.8	n/a	n/a	n/a	5.4	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q4 2022

TOL institutional ownership history Ownership history

92.6% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	425	377	+12.7%
Opened positions	97	59	+64.4%
Closed positions	49	69	-29.0%
Increased positions	127	88	+44.3%
Reduced positions	137	157	-12.7%

13F shares	Current	Prev Q	Change
Total value	6.87 tn	4.16 bn	+164821.9%
Total shares	102.58 mm	90.07 mm	+13.9%
Total puts	1.70 mm	1.58 mm	+7.0%
Total calls	1.14 mm	922.10 k	+23.2%
Total put/call ratio	1.5	1.7	-13.2%

Largest owners	Shares	Value	Change
Vanguard	11.69 mm	$583.54 bn	-0.1%
BLK Blackrock	10.79 mm	$538.41 bn	+2.2%
Capital International Investors	7.41 mm	$369.89 bn	+66.3%
Greenhaven Associates	5.35 mm	$267.32 bn	-0.1%
Massachusetts Financial Services	4.54 mm	$226.85 bn	-4.8%
Dimensional Fund Advisors	3.90 mm	$194.53 bn	+6.5%
STT State Street	3.65 mm	$182.39 bn	NEW
Capital World Investors	3.24 mm	$161.95 bn	0.0%
Millennium Management	3.10 mm	$154.33 bn	+271.6%
BK Bank Of New York Mellon	3.00 mm	$149.68 bn	-0.7%

Largest transactions	Shares	Bought/sold	Change
STT State Street	3.65 mm	+3.65 mm	NEW
Capital International Investors	7.41 mm	+2.95 mm	+66.3%
Millennium Management	3.10 mm	+2.26 mm	+271.6%
Norges Bank	1.08 mm	+1.08 mm	NEW
Renaissance Technologies	904.70 k	+904.70 k	NEW
Qube Research & Technologies	799.66 k	+753.38 k	+1627.9%
Citadel Advisors	755.29 k	+743.15 k	+6120.5%
Bamco	1.26 mm	+710.83 k	+128.4%
Los Angeles Capital Management & Equity Research	698.43 k	-702.90 k	-50.2%
Arete Wealth Management	665.83 k	+665.83 k	NEW

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

TOL insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
2 Mar 23	Garvey Christine	Common Stock	Sell	Dispose S	Yes	No	58.855	125	7.36 k	11,264
28 Feb 23	Garvey Christine	Common Stock	Gift	Dispose G	Yes	No	0	34	0.00	11,389
27 Feb 23	Carl B Marbach	Common Stock	Sell	Dispose S	No	No	58.6948	10,000	586.95 k	65,066
23 Feb 23	Paul E Shapiro	Common Stock	Sell	Dispose S	No	No	58.385	1,000	58.39 k	136,098
23 Feb 23	Garvey Christine	Common Stock	Gift	Dispose G	Yes	No	0	715	0.00	11,423
23 Feb 23	Garvey Christine	Common Stock	Sell	Dispose S	Yes	No	57.9803	910	52.76 k	12,138
28 Jan 23	Martin P. Connor	Common Stock	Payment of exercise	Dispose F	No	No	57.39	9,746	559.32 k	47,414
28 Jan 23	Martin P. Connor	Common Stock	Option exercise	Acquire M	No	No	0	25,940	0.00	57,160
28 Jan 23	Martin P. Connor	RSU Common Stock	Option exercise	Dispose M	No	No	0	25,940	0.00	0