Toll Brothers, Inc. (TOL) Key Metrics
TOL valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $12.32B
- Enterprise value
- $14.32B
- P/E (TTM)
- 10.8 10-yr median 9.8
- Forward P/E
- 10.0
- PEG ratio
- 0.87
- Price / sales
- 1.1 10-yr median 0.8
- Price / book
- 1.5 10-yr median 1.2
- EV / EBITDA
- 9.1 10-yr median 8.8
- Dividend yield
- 0.78% $1.04 a year
- Beta
- 1.30
TOL key metrics, FY2016–FY2025
Fiscal year ended October 31, 2025 · U.S. dollarsTOL valuation Price multiples at each fiscal year-end price.
TOL returns How much profit the business earns on the capital it uses.
TOL per-share figures Results divided by the shares outstanding at year-end.
TOL financial health Debt, liquidity and how easily interest is covered.
TOL efficiency & capital use Working capital cycle and where the cash goes.
TOL valuation history
TOL returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
TOL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
TOL cash returned to shareholders
TOL price vs earnings per share
TOL key metrics
FY2016–FY2025| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $13.47B | $15.33B | $7.85B | $5.08B | $7.57B | $5.55B | $5.83B | $5.19B | $7.80B | $4.83B |
| Enterprise value | $15.12B | $16.99B | $9.53B | $7.20B | $9.61B | $8.26B | $8.46B | $7.71B | $10.31B | $7.97B |
| P/E ratio | 10.0 | 9.8 | 5.7 | 4.0 | 9.1 | 12.4 | 9.9 | 6.9 | 14.6 | 12.6 |
| Price / sales | 1.2 | 1.4 | 0.8 | 0.5 | 0.9 | 0.8 | 0.8 | 0.7 | 1.3 | 0.9 |
| Price / book | 1.6 | 2.0 | 1.2 | 0.8 | 1.4 | 1.1 | 1.1 | 1.1 | 1.7 | 1.1 |
| Price / free cash flow | 13.1 | 16.4 | 6.6 | 5.6 | 6.1 | 6.2 | 16.6 | 9.0 | 8.4 | 40.1 |
| Price / operating cash flow | 12.1 | 15.2 | 6.2 | 5.2 | 5.8 | 5.5 | 13.3 | 8.6 | 8.1 | 32.5 |
| EV / sales | 1.4 | 1.6 | 1.0 | 0.7 | 1.1 | 1.2 | 1.2 | 1.1 | 1.8 | 1.5 |
| EV / EBITDA | 8.1 | 7.8 | 5.3 | 4.5 | 8.2 | 13.3 | 11.2 | 9.5 | 15.4 | 15.5 |
| EV / free cash flow | 14.7 | 18.1 | 8.0 | 7.9 | 7.8 | 9.2 | 24.1 | 13.4 | 11.1 | 66.2 |
| Earnings yield | 10.0% | 10.2% | 17.5% | 25.3% | 11.0% | 8.0% | 10.1% | 14.4% | 6.9% | 7.9% |
| Free cash flow yield | 7.6% | 6.1% | 15.2% | 18.0% | 16.3% | 16.2% | 6.0% | 11.1% | 11.9% | 2.5% |
| Dividend yield | 0.7% | 0.6% | 1.2% | 1.7% | 1.0% | 1.0% | 1.1% | 1.2% | 0.5% | 0.8% |
| Shareholder yield (dividends + buybacks) | 5.6% | 4.7% | 8.3% | 12.4% | 6.0% | 12.4% | 5.1% | 10.9% | 4.2% | 8.9% |
| Share price at fiscal year-end | $134.95 | $146.44 | $70.71 | $43.08 | $60.17 | $42.28 | $39.77 | $33.66 | $46.04 | $27.44 |
| Per share | ||||||||||
| Revenue per share | $109.91 | $103.61 | $90.04 | $87.10 | $69.87 | $53.93 | $49.31 | $46.32 | $34.31 | $29.38 |
| Earnings per share | $13.49 | $15.01 | $12.36 | $10.90 | $6.63 | $3.40 | $4.03 | $4.85 | $3.16 | $2.17 |
| Operating cash flow per share | $11.15 | $9.65 | $11.41 | $8.36 | $10.36 | $7.68 | $2.99 | $3.91 | $5.66 | $0.85 |
| Free cash flow per share | $10.28 | $8.95 | $10.75 | $7.76 | $9.83 | $6.85 | $2.39 | $3.72 | $5.49 | $0.68 |
| Cash per share | $12.62 | $12.45 | $11.71 | $11.42 | $13.02 | $10.45 | $8.78 | $7.67 | $4.21 | $3.60 |
| Book value per share | $82.89 | $73.27 | $61.23 | $51.04 | $42.45 | $37.54 | $34.62 | $30.87 | $26.73 | $24.03 |
| Tangible book value per share | $82.89 | $73.27 | $61.23 | $51.04 | $42.45 | $37.54 | $34.62 | $30.87 | $26.73 | $24.03 |
| Dividends per share | $0.97 | $0.89 | $0.82 | $0.75 | $0.61 | $0.43 | $0.43 | $0.40 | $0.23 | $0.22 |
| Capex per share | $0.86 | $0.70 | $0.66 | $0.61 | $0.53 | $0.83 | $0.59 | $0.18 | $0.17 | $0.16 |
| Debt per share | $29.23 | $28.29 | $26.88 | $29.41 | $29.25 | $31.11 | $26.77 | $23.98 | $19.00 | $21.45 |
| Shares outstanding | 99.8M | 104.7M | 111.0M | 118.0M | 125.8M | 131.2M | 146.5M | 154.2M | 169.5M | 176.0M |
| Change in shares outstanding | −4.7% | −5.7% | −5.9% | −6.2% | −4.1% | −10.4% | −5.0% | −9.0% | −3.7% | −4.7% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 16.9% | 21.7% | 21.4% | 22.6% | 16.2% | 8.9% | 12.0% | 16.1% | 12.2% | 9.0% |
| Return on invested capital (ROIC) | 13.4% | 17.3% | 15.5% | 14.7% | 10.3% | 5.5% | 6.8% | 8.8% | 5.9% | 4.4% |
| Return on assets (ROA) | 9.7% | 12.1% | 11.1% | 10.8% | 7.4% | 4.1% | 5.6% | 7.6% | 5.6% | 4.0% |
| Return on tangible assets | 9.3% | 11.8% | 11.0% | 10.5% | 7.2% | 4.0% | 5.4% | 7.3% | 5.7% | 3.9% |
| Free cash flow margin | 9.4% | 8.6% | 11.9% | 8.9% | 14.1% | 12.7% | 4.9% | 8.0% | 16.0% | 2.3% |
| Income quality (OCF / net income) | 0.83 | 0.64 | 0.92 | 0.77 | 1.56 | 2.26 | 0.74 | 0.81 | 1.79 | 0.39 |
| Financial health | ||||||||||
| Total debt | $2.92B | $2.96B | $2.98B | $3.47B | $3.68B | $4.08B | $3.92B | $3.70B | $3.22B | $3.78B |
| Cash & short-term investments | $1.26B | $1.30B | $1.30B | $1.35B | $1.64B | $1.37B | $1.29B | $1.18B | $712.8M | $633.7M |
| Net debt | $1.66B | $1.66B | $1.68B | $2.12B | $2.04B | $2.71B | $2.64B | $2.52B | $2.51B | $3.14B |
| Debt / equity | 0.35 | 0.39 | 0.44 | 0.58 | 0.69 | 0.83 | 0.77 | 0.78 | 0.71 | 0.89 |
| Debt / assets | 0.20 | 0.22 | 0.24 | 0.28 | 0.32 | 0.37 | 0.36 | 0.36 | 0.34 | 0.39 |
| Net debt / EBITDA | 0.89 | 0.77 | 0.94 | 1.34 | 1.73 | 4.38 | 3.50 | 3.10 | 3.74 | 6.12 |
| Current ratio | 4.17 | 4.61 | 4.28 | 3.80 | 4.03 | 4.73 | 6.07 | 5.78 | 5.56 | 5.50 |
| Quick ratio | 0.59 | 0.74 | 0.68 | 0.82 | 1.03 | 1.22 | 1.17 | 1.08 | 0.83 | 0.87 |
| Interest coverage | — | — | — | 10.7 | 8.5 | 225.5 | 3.8 | 4.5 | 3.7 | 4.6 |
| Working capital | $9.84B | $9.06B | $8.26B | $8.21B | $7.99B | $8.14B | $8.14B | $7.73B | $7.01B | $7.15B |
| Invested capital | $9.93B | $9.33B | $8.48B | $8.14B | $7.38B | $7.64B | $7.71B | $7.28B | $7.04B | $7.37B |
| Tangible asset value | $8.29B | $7.69B | $6.81B | $6.02B | $5.34B | $4.93B | $5.12B | $4.77B | $4.54B | $4.24B |
| Net current asset value | $6.71B | $5.89B | $5.06B | $4.88B | $4.43B | $4.18B | $4.04B | $3.87B | $3.64B | $3.23B |
| Graham number | $158.64 | $157.30 | $130.49 | $111.91 | $79.55 | $53.61 | $56.01 | $58.05 | $43.60 | $34.27 |
| Graham net-net per share | $6.95 | $5.65 | $1.96 | $0.06 | −$0.38 | −$1.55 | −$2.12 | −$2.12 | −$2.15 | −$5.70 |
| Capital allocation | ||||||||||
| Dividends paid | $97.1M | $93.4M | $91.1M | $88.9M | $76.6M | $56.6M | $63.6M | $61.7M | $38.6M | $38.6M |
| Share buybacks (net) | $651.0M | $627.1M | $561.6M | $542.7M | $378.3M | $634.1M | $233.5M | $503.2M | $290.9M | $392.8M |
| Dividend payout ratio | 7.2% | 5.9% | 6.6% | 6.9% | 9.2% | 12.7% | 10.8% | 8.2% | 7.2% | 10.1% |
| Dividends + buybacks / free cash flow | 72.9% | 76.9% | 54.7% | 69.0% | 36.8% | 76.9% | 84.7% | 98.4% | 35.4% | 358.4% |
| Capex / revenue | 0.8% | 0.7% | 0.7% | 0.7% | 0.8% | 1.5% | 1.2% | 0.4% | 0.5% | 0.5% |
| Capex / operating cash flow | 7.7% | 7.3% | 5.8% | 7.3% | 5.1% | 10.9% | 19.9% | 4.7% | 3.0% | 19.1% |
| Capex / depreciation | 1.05 | 0.91 | 0.95 | 0.93 | 0.88 | 1.59 | 1.21 | 1.12 | 1.14 | 1.23 |
| Stock-based compensation / revenue | 0.3% | 0.3% | 0.2% | 0.2% | 0.3% | 0.3% | 0.4% | 0.4% | 0.5% | 0.5% |
| SG&A / revenue | 9.4% | 9.1% | 9.1% | 9.5% | 10.5% | 12.3% | 10.2% | 9.6% | 10.5% | 10.4% |
| Efficiency | ||||||||||
| Days sales outstanding | 5.1 | 4.8 | 16.1 | 26.4 | 35.7 | 31.3 | 11.6 | 12.2 | 15.8 | 11.9 |
| Days of inventory on hand | 467.8 | 437.8 | 441.1 | 390.1 | 415.1 | 500.8 | 486.1 | 478.7 | 585.4 | 632.0 |
| Days payables outstanding | 24.9 | 25.4 | 30.2 | 27.7 | 26.0 | 24.5 | 22.3 | 20.5 | 22.3 | 22.9 |
| Cash conversion cycle (days) | 448.0 | 417.2 | 427.1 | 388.8 | 424.8 | 507.7 | 475.4 | 470.3 | 579.0 | 621.1 |
| Receivables turnover | 71.05 | 75.66 | 22.63 | 13.84 | 10.23 | 11.64 | 31.47 | 29.99 | 23.06 | 30.57 |
| Payables turnover | 14.66 | 14.36 | 12.10 | 13.18 | 14.06 | 14.89 | 16.35 | 17.80 | 16.38 | 15.97 |
| Inventory turnover | 0.78 | 0.83 | 0.83 | 0.94 | 0.88 | 0.73 | 0.75 | 0.76 | 0.62 | 0.58 |
| Asset turnover | 0.79 | 0.84 | 0.81 | 0.86 | 0.78 | 0.65 | 0.69 | 0.73 | 0.61 | 0.55 |
| Average receivables | $154.3M | $143.4M | $441.6M | $742.7M | $859.0M | $607.9M | $229.5M | $238.2M | $252.2M | $169.1M |
| Average payables | $554.0M | $544.9M | $608.5M | $590.9M | $486.9M | $380.0M | $355.3M | $318.7M | $278.6M | $259.5M |
| Average inventory | $10.41B | $9.39B | $8.90B | $8.32B | $7.79B | $7.77B | $7.74B | $7.44B | $7.32B | $7.18B |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from TOL's annual financial statements (latest annual report filed December 19, 2025) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
TOL valuation and financial ratios
At the end of fiscal 2025 (October 31, 2025), Toll Brothers traded at 10.0 times earnings, against a 10-year median of 9.8. Based on the latest twelve months, the trailing P/E is 10.8 and the forward P/E is 10.0. Toll Brothers earned a return on equity of 16.9% and a return on invested capital of 13.4% in fiscal 2025. It ended the year with $2.9 billion of debt and $1.3 billion in cash and short-term investments, net debt of $1.7 billion. It returned $748.1 million to shareholders: $97.1 million in dividends and $651.0 million in share buybacks, 73% of free cash flow. The share count fell 43.3% from 176.0M to 99.8M over 9 years.
See the TOL income statement, the TOL chart for price history, or the TOL stock overview for the latest quote and news.
TOL key metrics FAQ
What is Toll Brothers's P/E ratio?
Toll Brothers's trailing P/E ratio is 10.8 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 10.0. At the end of fiscal 2025 it was 10.0, compared with a 10-year median of 9.8.
What is Toll Brothers's EV/EBITDA?
Toll Brothers's enterprise value was 8.1 times EBITDA at the end of fiscal 2025 (enterprise value $15.1 billion, EBITDA $1.9 billion); the current EV/EBITDA is 9.1.
What is Toll Brothers's return on equity?
Toll Brothers's return on equity (ROE) was 16.9% in fiscal 2025: net income of $1.3 billion on average shareholders' equity of $8.0 billion.
What is Toll Brothers's ROIC?
Toll Brothers's return on invested capital was 13.4% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Toll Brothers have?
Toll Brothers had total debt of $2.9 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.35 and $1.7 billion of net debt (0.89 times EBITDA).
What is Toll Brothers's dividend yield?
Toll Brothers's forward dividend yield is 0.78%. Toll Brothers paid $97.1 million in dividends in fiscal 2025 ($0.97 per share), a payout ratio of 7.2%.
Does Toll Brothers buy back its shares?
Yes. Toll Brothers spent $651.0 million on net share repurchases in fiscal 2025 Shares outstanding changed −4.7% over the year, to 99.8M..
What is Toll Brothers's free cash flow yield?
Toll Brothers generated $1.0 billion of free cash flow in fiscal 2025, a free cash flow yield of 7.6% on its market value at year-end ($13.5 billion).
What is Toll Brothers's current ratio?
Toll Brothers's current ratio was 4.17 at the end of fiscal 2025: current assets were 4.17 times current liabilities.