On Feb. 22, luxury home builder Toll Brothers
- Revenue decreased by 18.7% to $1.09 billion, primarily because of reductions in traditional home sales.
- Margins dropped across the board.
- Management believes there are too many soft markets at the moment to call a bottom in the new home market.
-
Motley Fool CAPS players don't see a bottom either. They've awarded Toll Brothers, Centex
(NYSE:CTX) , and Ryland(NYSE:RYL) one-star ratings.
(Figures in millions, except per-share data)
Income Statement Highlights
|
Q1 2007 |
Q1 2006 |
Change |
|
|---|---|---|---|
|
Sales |
$1,090.6 |
$1,341.0 |
(18.7%) |
|
Net Profit |
$54.3 |
$163.9 |
(66.9%) |
|
EPS |
$0.33 |
$0.98 |
(66.3%) |
|
Diluted Shares |
164.0 |
167.0 |
(1.8%) |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q1 2007 |
Q1 2006 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
17.9% |
28.1% |
(10.3) |
|
Operating Margin |
4.7% |
17.7% |
(13.0) |
|
Net Margin |
5.0% |
12.2% |
(7.2) |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Assets |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$449.2 |
$689.2 |
(34.8%) |
|
Accounts Rec. |
$144.0 |
$178.0 |
(19.1%) |
|
Inventory |
$6,182.3 |
$5,531.1 |
11.8% |
|
Liabilities |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Accounts Payable |
$253.4 |
$226.8 |
11.7% |
|
Long-Term Debt |
$1,490.3 |
$1,491.5 |
(0.1%) |
Learn the ways of the balance sheet.
Cash Flow Highlights
No data available. Lame.
Find out why Fools always follow the money.
Related Foolishness:
- Toll Brothers' Dancing CEO
- Housing Construction Takes One on the Chin
- Homebuilders Defying Housing Numbers
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