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Toll Brothers TOL House and land inventory

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Segments

By geography

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Mountain$2.75B-2.0%
South$2.54B+13.9%
Pacific$2.33B+14.6%
Mid-Atlantic$1.66B+18.7%
North$1.39B+12.5%

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$14.49B+17.2%
Enterprise value$13.45B+16.5%
P/E11.3×+2.3×
P/S1.3×+0.2×

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×

Where this comes from

Reported directly by Toll Brothers in its filing.

Tagged under the XBRL concept us-gaap:InventoryOperativeBuilders.

The source filing: Toll Brothers’s 10-Q, filed May 29, 2026.

Filed
May 29, 2026, 4:10 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000794170-26-000087
Line itemApril 30, 2026October 31, 2025
(unaudited)
ASSETS
Cash and cash equivalents$1,105,511$1,258,997
Inventory11,377,71210,678,460
Property, construction, and office equipment – net283,878273,397
Receivables, prepaid expenses, and other assets543,805554,720
Real estate and related assets held for sale420,969
Mortgage loans held for sale – at fair value141,482200,816

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Toll Brothers's house and land inventory?
Toll Brothers (TOL) reported house and land inventory of $11.38B in Q1 2026.
How has Toll Brothers's house and land inventory changed year-over-year?
Toll Brothers's house and land inventory increased by 3.5% year-over-year, from $10.99B to $11.38B.
What is the long-term trend for Toll Brothers's house and land inventory?
Over 5 years (2020 to 2025), Toll Brothers's house and land inventory has grown at a 6.9% compound annual growth rate (CAGR), from $7.66B to $10.68B.
What does house and land inventory mean?
This represents the value of land held for development, land under development, and finished homes that are not yet sold. It is the core asset base for a homebuilding company, reflecting the pipeline of future revenue generation. The valuation includes direct construction costs, capitalized interest, and land acquisition costs.

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