)
Visual
earnings real time
Toll Brothers (TOL) investor relations material
Toll Brothers Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary9 Dec, 2025
Executive summary
Delivered 11,292 homes in fiscal 2025, a 4% increase year-over-year, with record home sales revenue of $10.84 billion, up from $10.56 billion in FY 2024.
Adjusted gross margin for the year was 27.3%, with an SG&A margin of 9.5% and earnings of $13.49 per diluted share.
Fourth quarter home sales revenue reached $3.41 billion, with an adjusted gross margin of 27.1% and SG&A margin of 8.3%.
Backlog value at Q4 end was $5.5 billion (4,647 homes), down from $6.5 billion (5,996 homes) a year ago.
Exited the multifamily business, with proceeds to be used for core home building growth and shareholder returns.
Financial highlights
Fourth quarter net income was $446.7 million ($4.58 per diluted share), compared to $475.4 million ($4.63 per share) a year ago.
Full-year net income was $1.35 billion ($13.49 per share), down from $1.57 billion ($15.01 per share) last year; prior year included a $124 million one-time gain.
Generated $1.1 billion in operating cash flow and ended the year with $3.5 billion in liquidity.
Repurchased $652 million in shares and paid $97 million in dividends in fiscal 2025.
Income from operations was $1.72 billion for FY 2025.
Outlook and guidance
Fiscal 2026 guidance: 10,300–10,700 home deliveries at an average price of $970,000–$990,000.
Adjusted gross margin expected at 26% for the year; SG&A projected at 10.25% of home sales revenue.
$650 million in share repurchases planned for 2026, mostly in the second half.
Community count expected to grow 8–10% by year-end 2026, with period-end count of 480–490.
Q1 FY 2026 guidance: 1,800–1,900 deliveries at $985,000–$995,000 average price; adjusted gross margin of 26.25%; SG&A at 14.2%.
Why exit the multifamily development business?
Explain FY26 margin and delivery guidance
Strategy to grow sales with rising community count?
Prioritize Apartment Living proceeds: growth vs. buybacks
What market improvements drive FY26 outperformance?
Impact of spec mix on FY26 gross margin
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Toll Brothers earnings date
Q1 202618 Feb, 2026
Next Toll Brothers earnings date
Q1 202618 Feb, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
Related articles
)
)
Frequently asked questions
Toll Brothers, Inc., designs, builds, markets, sells, and arranges finance for a range of detached and attached homes in luxury residential communities throughout the United States. The company offers luxury single-family homes designed with architectural distinction for leisure-time pursuits, including golf and boating. It also offers high-rise condominium buildings in urban neighborhoods; as well as residences in suburban planned developments and active adult communities. In addition, the company provides home warranty services to buyers; and sells home furnishings through a network of independent furniture stores. Toll Brothers, Inc is based in Fort Washington, Pennsylvania.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage