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Toll Brothers TOL North — Inventory write-down

Other segment segments

Pacific
$16.97M
Mid-Atlantic
$8.74M
Mountain
$3.42M
South
$2.84M

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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$14.49B+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:InventoryWriteDown.

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 itemThree months ended April 30, 2026Three months ended April 30, 2025Six months ended April 30, 2026Six months ended April 30, 2025
North$506$580$528$785
Mid-Atlantic8,7392989,4324,065
South2,8436204,1424,979
Mountain3,4177,3019,41014,795
Pacific16,9721,00020,6391,592
Total consolidated$32,477$9,799$44,151$26,216

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Toll Brothers's north — inventory write-down?
Toll Brothers (TOL) reported north — inventory write-down of $506K in Q1 2026.
How has Toll Brothers's north — inventory write-down changed year-over-year?
Toll Brothers's north — inventory write-down decreased by 12.8% year-over-year, from $580K to $506K.
What is the long-term trend for Toll Brothers's north — inventory write-down?
Over 4 years (2021 to 2025), Toll Brothers's north — inventory write-down has grown at a -42.4% compound annual growth rate (CAGR), from $12.2M to $1.34M.
What does north — inventory write-down mean?
Represents the reduction in the carrying value of land or housing inventory in the North segment due to a decline in market value. This is a non-cash charge that reflects impairment of regional assets.

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