How do you interpret payments related to repurchases from land bank programs?

Higher payments indicate an increase in development activity and the conversion of land options into active projects.

How does payments related to repurchases from land bank programs compare across companies?

Specific to homebuilders utilizing land bank financing structures.

Toll Brothers TOL Payments Related To Repurchases From Land Bank Programs

Payments Related To Repurchases From Land Bank Programs at other companies

PultegroupPHM

$4.58M-59.7%

American Homes 4 RentAMH

$0-100%

PennyMac Mortgage Investment TrustPMT

$14.43B-58.9%

PultegroupPHM

$6.18M-44.1%

Annaly Capital ManagementNLY

$1.86B+56.1%

NYM

NYMTNYMT

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Other financials

Income statement

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Revenue$2.5B-7.6%

Gross profit$604.9M-14.3%

Operating income$346.6M-22.9%

Net income$260.6M-26.1%

EPS (diluted)$2.72-22.3%

Balance sheet

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Cash & equivalents$1.2B+53.9%

Total debt$139.8M+8.1%

Total equity$8.5B+6.6%

Total assets$14.5B+2.4%

Cash flow

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Operating cash flow$134.5M-62.9%

CapEx$24.5M+56.9%

Free cash flow$110.0M-68.3%

Valuation

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Market cap$14.55B+34.0%

Enterprise value$13.52B+32.0%

P/E11.3×+3.4×

P/S1.3×+0.3×

Profitability

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Gross margin24.2%-2.0pp

Operating margin14.6%-2.0pp

Net margin11.7%-1.3pp

FCF margin11%+4.2pp

Returns & leverage

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Return on equity15.7%-2.4pp

Debt / equity0×0.0×

Where this comes from

Reported directly by Toll Brothers in its filing.

Tagged under the XBRL concept tol:PaymentsRelatedToRepurchasesFromLandBankPrograms.

The official record: Toll Brothers’s 10-K, filed December 19, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Toll Brothers's payments related to repurchases from land bank programs?: Toll Brothers (TOL) reported payments related to repurchases from land bank programs of $29.19M in Q3 2025.
What does payments related to repurchases from land bank programs mean?: Cash paid to buy back land from land banks for development.
How do you interpret payments related to repurchases from land bank programs?: Higher payments indicate an increase in development activity and the conversion of land options into active projects.
How does payments related to repurchases from land bank programs compare across companies?: Specific to homebuilders utilizing land bank financing structures.