Toll Brothers, Inc. (TOL) Income Statement

NYSE: TOLRevenue, profits, margins and EPS over 10 years.

TOL FY2025 at a glance

Fiscal year ended October 31, 2025 · U.S. dollars
Revenue+1.1%
$10.97B
FY2025 · hover or tap a bar for each year
FY2016: $5.17B (+23.9%)FY2017: $5.82B (+12.5%)FY2018: $7.14B (+22.8%)FY2019: $7.22B (+1.1%)FY2020: $7.08B (−2.0%)FY2021: $8.79B (+24.2%)FY2022: $10.28B (+16.9%)FY2023: $9.99B (−2.7%)FY2024: $10.85B (+8.5%)FY2025: $10.97B (+1.1%)
FY2016FY2025
Gross profit−5.8%
$2.85B
FY2025 · hover or tap a bar for each year
FY2016: $1.03B (+13.7%)FY2017: $1.25B (+22.2%)FY2018: $1.47B (+17.4%)FY2019: $1.42B (−3.7%)FY2020: $1.42B (+0.2%)FY2021: $1.94B (+37.0%)FY2022: $2.49B (+28.0%)FY2023: $2.63B (+5.9%)FY2024: $3.02B (+14.7%)FY2025: $2.85B (−5.8%)
FY2016FY2025
Operating income−15.7%
$1.72B
FY2025 · hover or tap a bar for each year
FY2016: $490.1M (+9.7%)FY2017: $644.9M (+31.6%)FY2018: $786.2M (+21.9%)FY2019: $680.8M (−13.4%)FY2020: $550.3M (−19.2%)FY2021: $1.02B (+85.5%)FY2022: $1.51B (+47.8%)FY2023: $1.72B (+14.3%)FY2024: $2.04B (+18.3%)FY2025: $1.72B (−15.7%)
FY2016FY2025
Net income−14.3%
$1.35B
FY2025 · hover or tap a bar for each year
FY2016: $382.1M (+5.2%)FY2017: $535.5M (+40.1%)FY2018: $748.2M (+39.7%)FY2019: $590.0M (−21.1%)FY2020: $446.6M (−24.3%)FY2021: $833.6M (+86.7%)FY2022: $1.29B (+54.3%)FY2023: $1.37B (+6.7%)FY2024: $1.57B (+14.5%)FY2025: $1.35B (−14.3%)
FY2016FY2025
EPS (diluted)−11.2%
$13.56
FY2025 · hover or tap a bar for each year
FY2016: $2.72 (+31.4%)FY2017: $3.02 (+11.0%)FY2018: $4.88 (+61.6%)FY2019: $4.04 (−17.2%)FY2020: $3.45 (−14.6%)FY2021: $6.66 (+93.0%)FY2022: $11.07 (+66.2%)FY2023: $12.50 (+12.9%)FY2024: $15.27 (+22.2%)FY2025: $13.56 (−11.2%)
FY2016FY2025
Net profit margin−2.2 pts
12.3%
FY2025 · hover or tap a point for each year
FY2016: 7.4% (−1.3 pts)FY2017: 9.2% (+1.8 pts)FY2018: 10.5% (+1.3 pts)FY2019: 8.2% (−2.3 pts)FY2020: 6.3% (−1.9 pts)FY2021: 9.5% (+3.2 pts)FY2022: 12.5% (+3.0 pts)FY2023: 13.7% (+1.2 pts)FY2024: 14.5% (+0.8 pts)FY2025: 12.3% (−2.2 pts)
FY2016FY2025

TOL revenue and net income

RevenueNet incomeNet margin (right axis)

Where TOL's revenue goes

FY2025
Revenue
$10.97B100.0%
Cost of revenue
−$8.12B−74.0%
Gross profit
$2.85B26.0%
Sales, general & admin
−$1.03B−9.4%
Other operating expenses
−$92.8M−0.8%
Operating income
$1.72B15.7%
Interest & other income
$70.8M0.6%
Income taxes
−$444.9M−4.1%
Net income
$1.35B12.3%

Each bar shows an amount and its share of revenue. TOL kept 12.3% of revenue as net income.

TOL profit margins

GrossOperatingNet

TOL growth rates

to FY2025
1 year3 years5 years10 years
Revenue+1.1%+2.2%+9.2%+10.1%
Gross profit−5.8%+4.6%+15.0%+12.2%
Operating income−15.7%+4.5%+25.6%+14.4%
Net income−14.3%+1.5%+24.7%+14.0%
EPS (diluted)−11.2%+7.0%+31.5%+20.7%

1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.

TOL quarterly EPS vs estimates

Reported EPSAnalyst estimate

Toll Brothers beat the analyst EPS estimate in 6 of the last 8 quarters.

TOL income statement

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue$10.97B$10.85B$9.99B$10.28B$8.79B$7.08B$7.22B$7.14B$5.82B$5.17B
Cost of revenue$8.12B$7.82B$7.36B$7.79B$6.85B$5.66B$5.81B$5.67B$4.56B$4.14B
Gross profit$2.85B$3.02B$2.63B$2.49B$1.94B$1.42B$1.42B$1.47B$1.25B$1.03B
Research & development———————$0$0$0
Sales, general & admin$1.03B$982.3M$909.4M$977.8M$922.0M$867.4M$734.5M$684.0M$607.8M$535.4M
Total operating expenses$1.13B$982.3M$909.4M$977.8M$922.0M$867.4M$734.5M$684.0M$607.8M$535.4M
Operating income$1.72B$2.04B$1.72B$1.51B$1.02B$550.3M$680.8M$786.2M$644.9M$490.1M
Interest income$19.1M$38.5M$35.1M$23.7M$74.0M$948,000$19.0M$8.6M$6.0M$2.4M
Interest expense———$141.2M$120.5M$2.4M$178.5M$173.0M$172.2M$106.4M
Income before taxes$1.79B$2.09B$1.84B$1.70B$1.10B$586.9M$787.2M$933.9M$814.3M$589.0M
Income taxes$444.9M$514.4M$470.3M$417.2M$266.7M$140.3M$197.2M$185.8M$278.8M$206.9M
Net income$1.35B$1.57B$1.37B$1.29B$833.6M$446.6M$590.0M$748.2M$535.5M$382.1M
EBITDA$1.87B$2.17B$1.80B$1.59B$1.18B$619.1M$752.9M$811.5M$670.3M$513.2M
EPS (diluted)$13.56$15.27$12.50$11.07$6.66$3.45$4.04$4.88$3.02$2.72
Gross margin26.0%27.9%26.4%24.2%22.1%20.0%19.6%20.6%21.5%19.8%
Operating margin15.7%18.8%17.3%14.7%11.6%7.8%9.4%11.0%11.1%9.5%
Net margin12.3%14.5%13.7%12.5%9.5%6.3%8.2%10.5%9.2%7.4%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in TOL's financial statements (latest annual report filed December 19, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.

TOL financial results

In fiscal year 2025 (ended October 31, 2025), Toll Brothers reported revenue of $11.0 billion, up 1.1% from the year before. It had net income of $1.3 billion (down 14.3%), a net profit margin of 12.3%. Diluted earnings per share came to $13.56. Over five years revenue grew at an average rate of 9.2% a year.

See the TOL stock overview for the latest quote and news, or the TOL chart for price history and technical indicators.

TOL income statement FAQ

What is Toll Brothers's annual revenue?

Toll Brothers reported total revenue of $11.0 billion for fiscal year 2025, which ended on October 31, 2025. That was up 1.1% from $10.8 billion the previous year.

Is Toll Brothers profitable?

Yes. Toll Brothers reported net income of $1.3 billion in fiscal 2025, a net profit margin of 12.3%; its operating margin was 15.7%.

What is Toll Brothers's gross margin?

Toll Brothers's gross margin was 26.0% in fiscal 2025: for every $100 of revenue, Toll Brothers kept $26 after the direct cost of its products and services.

How fast is Toll Brothers growing?

Revenue grew 9.2% a year on average over the last five fiscal years, from $7.1 billion to $11.0 billion.

What are Toll Brothers's earnings per share?

Toll Brothers earned $13.56 per diluted share in fiscal 2025, compared with $15.27 a year earlier.

When does Toll Brothers's fiscal year end?

Toll Brothers's fiscal year ends in October. The latest annual report covers the year ended October 31, 2025 and was filed on December 19, 2025.

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