Toll Brothers(NYSE) TOL

Toll Brothers, Inc. builds luxury homes for wealthy families. It helps buyers design and finance their high-end properties. The company also manages golf courses and country clubs.

Where the Luxury Homes Are

• Traditional Home Building: Designing and constructing luxury detached and attached homes across over 60 markets.
• City Living: Developing and selling high-end condominiums in dense urban environments.
• Ancillary Services: Offering mortgage financing, title insurance, and smart home technology to buyers.
• Apartment Living: Building and leasing luxury rental communities through strategic joint venture partnerships.

Building for the Future

• Sold approximately half of the Apartment Living business assets during the nine months ended July 31, 2026.
• Extended the maturity of the $2.38 billion revolving credit facility to Feb. 5, 2031.
• Increased the production of spec homes, which are houses started without a buyer, to meet demand.
• Formed a strategic alliance with Equity Residential to develop rental apartment communities.

What Makes the Business Different

The company operates a vertically integrated model that includes internal architectural services and lumber distribution. This structure allows the firm to serve affluent buyers who are less affected by rising mortgage rates.

Key Performance Figures

• Home sales revenues were $2.65 billion in the three months ended July 31, 2026, down 8% year over year.
• Net income was $280.1 million in the three months ended July 31, 2026, down 24% year over year.
• Net contract value reached $2.52 billion in the three months ended July 31, 2026, up 4% year over year.
• Backlog value for homes sold but not delivered was $6.24 billion at July 31, 2026, down 2% year over year.

Bottom Line

Toll Brothers has evolved from a luxury homebuilder into a diversified real estate entity. Its integrated services and upscale focus help maintain stability through market cycles.