Toll Brothers (TOL) Q4 2025 Earnings: Revenue Up, EPS Miss and Cash Flow Drop

Toll Brothers Inc. (TOL) — Q4 2025 Earnings

Revenue: $3.4 billion, up 2.7% year-over-year and above the revenue estimate of $3.34 billion.

Gross profit: $848 million, down 3.7% year-over-year.

Operating profit: $564 million, down 7.7% year-over-year.

Net income attributable to common shareholders: $447 million, down 6.0% year-over-year.

Diluted earnings per share: $4.58, below the EPS estimate of $4.94.

Cost of sales rose to $2.58 billion, up 5.0% year-over-year, contributing to margin pressure.

Gross and operating margins narrowed despite modest top-line growth, reflecting higher costs.

Cash from operating activities fell sharply to $370 million, a decline of 45.7% year-over-year, signaling weaker cash generation.

Cash and cash equivalents at quarter end were $1.26 billion, down 3.4% year-over-year.

Purchases of property, plant and equipment (capex) totaled $25.4 million, up 39.9% year-over-year.

Total liabilities increased to $6.23 billion, up 9.7% year-over-year.

In summary: Toll Brothers (TOL) posted revenue growth but faced margin compression and a substantial drop in operating cash flow, resulting in an EPS miss versus expectations.

Toll Brothers Inc. Insider Trading Activity

Toll Brothers Inc. insiders have traded $TOL stock on the open market 9 times in the past 6 months. Of those trades, 1 have been purchases and 8 have been sales.

Here’s a breakdown of recent trading of $TOL stock by insiders over the last 6 months:

DOUGLAS C. JR. YEARLEY (Chief Executive Officer) sold 20,145 shares for an estimated $2,983,105
ROBERT PARAHUS (President & COO) sold 9,831 shares for an estimated $1,286,249
MARTIN P. CONNOR (Chief Financial Officer) sold 5,350 shares for an estimated $735,665
PAUL E SHAPIRO sold 3,812 shares for an estimated $562,847
STEPHEN F. EAST sold 2,500 shares for an estimated $288,325
MICHAEL J. GRUBB (SVP & Chief Accounting Officer) has made 0 purchases and 2 sales selling 1,000 shares for an estimated $130,315.
CHRISTINE GARVEY sold 770 shares for an estimated $92,258
KATHERINE M SANDSTROM purchased 68 shares for an estimated $8,627

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

Toll Brothers Inc. Hedge Fund Activity

We have seen 390 institutional investors add shares of Toll Brothers Inc. stock to their portfolio, and 363 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

LONE PINE CAPITAL LLC removed 3,800,580 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $433,760,195
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ removed 1,834,513 shares (-91.2%) from their portfolio in Q3 2025, for an estimated $253,419,625
CAPITAL WORLD INVESTORS added 1,763,211 shares (+51.5%) to their portfolio in Q3 2025, for an estimated $243,569,967
D1 CAPITAL PARTNERS L.P. removed 1,603,881 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $221,560,121
MILLENNIUM MANAGEMENT LLC removed 1,038,412 shares (-69.5%) from their portfolio in Q3 2025, for an estimated $143,446,233
HOLOCENE ADVISORS, LP added 974,567 shares (+78.0%) to their portfolio in Q3 2025, for an estimated $134,626,685
QUBE RESEARCH & TECHNOLOGIES LTD removed 880,433 shares (-62.1%) from their portfolio in Q3 2025, for an estimated $121,623,014

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Toll Brothers Inc. Analyst Ratings

Wall Street analysts have issued reports on $TOL in the last several months. We have seen 6 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

B of A Securities issued a "Buy" rating on 10/10/2025
Wedbush issued a "Outperform" rating on 09/05/2025
Argus Research issued a "Buy" rating on 09/05/2025
Wells Fargo issued a "Overweight" rating on 08/21/2025
RBC Capital issued a "Outperform" rating on 08/21/2025
Seaport Global issued a "Buy" rating on 07/23/2025

To track analyst ratings and price targets for Toll Brothers Inc., check out Quiver Quantitative's $TOL forecast page.

Toll Brothers Inc. Price Targets

Multiple analysts have issued price targets for $TOL recently. We have seen 11 analysts offer price targets for $TOL in the last 6 months, with a median target of $160.0.

Here are some recent targets:

Michael Rehaut from JP Morgan set a target price of $161.0 on 12/04/2025
Rafe Jadrosich from B of A Securities set a target price of $150.0 on 10/10/2025
Stephen Kim from Evercore ISI Group set a target price of $160.0 on 10/07/2025
Anthony Pettinari from Citigroup set a target price of $147.0 on 10/01/2025
Jay McCanless from Wedbush set a target price of $165.0 on 09/05/2025
Christopher Graja from Argus Research set a target price of $165.0 on 09/05/2025
Jade Rahmani from Keefe, Bruyette & Woods set a target price of $145.0 on 08/28/2025