What does proceeds related to sales to land bank programs mean?

Cash received from selling land to land bank partners.

How do you interpret proceeds related to sales to land bank programs?

Higher proceeds indicate an active strategy to offload land inventory and improve capital turnover.

How does proceeds related to sales to land bank programs compare across companies?

Specific to the homebuilding industry; used to compare capital-light vs. capital-heavy land strategies.

Toll Brothers TOL Proceeds related to sales to land bank programs

Proceeds related to sales to land bank programs at other companies

PultegroupPHM

$6.18M-44.1%

PultegroupPHM

-$6.6M—

Texas Pacific LandTPL

$200K-91.3%

PultegroupPHM

$25.51M-9.6%

Texas Pacific LandTPL

$42.4M—

PultegroupPHM

$29.32M-44.2%

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:ProceedsRelatedToSalesToLandBankPrograms.

The official record: Toll Brothers’s 10-Q, filed February 27, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Toll Brothers's proceeds related to sales to land bank programs?: Toll Brothers (TOL) reported proceeds related to sales to land bank programs of $19.8M in Q4 2025.
What does proceeds related to sales to land bank programs mean?: Cash received from selling land to land bank partners.
How do you interpret proceeds related to sales to land bank programs?: Higher proceeds indicate an active strategy to offload land inventory and improve capital turnover.
How does proceeds related to sales to land bank programs compare across companies?: Specific to the homebuilding industry; used to compare capital-light vs. capital-heavy land strategies.