Toll Brothers, Inc.
For the period ended Jan 31, 2026. Filed Feb 27, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jan 31, 2026 · Filed Feb 27, 2026
TOL$152.19-2.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows (Unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Three months ended January 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flow provided by (used in) operating activities: | ||
| Net income | $210,932 | $177,703 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 16,236 | 17,165 |
| Stock-based compensation | 18,809 | 18,022 |
| (Income) loss from unconsolidated entities | (35,444) | 8,743 |
| Distributions of earnings from unconsolidated entities | 10,784 | 4,810 |
| Deferred tax provision | 2,206 | 1,535 |
| Impairment charges and write-offs | 13,066 | 22,705 |
| Other - net | 801 | 1,196 |
| Changes in operating assets and liabilities: | ||
| Inventory | (396,100) | (832,230) |
| Origination of mortgage loans | (486,080) | (430,692) |
| Sale of mortgage loans | 556,292 | 523,092 |
| Receivables, prepaid expenses, and other assets, including rental and commercial properties | 260,185 | (1,488) |
| Current income taxes – net | (25,371) | (50,822) |
| Customer deposits – net | 22,827 | 26,530 |
| Accounts payable and accrued expenses | (161,875) | 92,956 |
| Net cash provided by (used in) operating activities | 7,268 | (420,775) |
| Cash flow provided by (used in) investing activities: | ||
| Purchase of property, construction, and office equipment – net | (18,862) | (17,325) |
| Investments in unconsolidated entities | (61,883) | (118,747) |
| Return of investments in unconsolidated entities | 65,137 | 18,428 |
| Proceeds from the sale of ownership interests in unconsolidated entities | 204,295 | — |
| Other – net | (1,007) | (1,813) |
| Net cash provided by (used in) investing activities | 187,680 | (119,457) |
| Cash flow used in financing activities: | ||
| Proceeds from loans payable | 478,512 | 823,131 |
| Principal payments of loans payable | (660,570) | (929,660) |
| Proceeds related to sales to land bank programs | 19,797 | — |
| Payments related to stock-based benefit plans – net | (15,099) | (22,887) |
| Purchase of treasury stock and excise tax payment | (50,435) | (23,748) |
| Dividends paid | (24,999) | (24,414) |
| (Payments) receipts related to noncontrolling interest – net | (4,475) | 386 |
| Net cash used in financing activities | (257,269) | (177,192) |
| Net decrease in cash, cash equivalents, and restricted cash | (62,321) | (717,424) |
| Cash, cash equivalents, and restricted cash, beginning of period | 1,338,938 | 1,370,435 |
| Cash, cash equivalents, and restricted cash, end of period | $1,276,617 | $653,011 |
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