Filing Flows › Toll Brothers (TOL) › Q3 FY25
Toll Brothers (TOL) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed Aug 28, 2025
Toll Brothers (TOL) reported revenue of $2.9B for the third quarter fiscal 2025 (Q3 FY25), +8% from a year earlier and +8% from the quarter before. Operating margin was 16.6%, net earnings $369M (12.5% of revenue).
Toll Brothers, Q3 FY25: revenue $2.9B (+8% year over year), operating margin 16.6%, net earnings $369M, operating cash flow $370M. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.9B | +8% | +8% |
| Operating profit | $488M | +8% | -2% |
| Net earnings | $369M | +5% | -1% |
| Operating cash flow | $370M | +2% | +111% |
| Free cash flow | $345M | -0.7% | +130% |
What changed
Revenue was $2.9B in Q3 FY25, up 8% year over year and up 8% from the previous quarter. Home sales was the largest line at 98% of revenue. Home sales added $0.16B year over year (up 6%), 72% of the total change. Management Fee declined 6%.
Operating profit was $0.49B, a 16.6% margin (down 1.7 points year over year). Operating profit fell $0.01B even though revenue rose $0.22B versus a year earlier, so costs grew faster than sales. Total costs grew 10% against revenue growth of 8%. The fastest-growing cost line was Cost of revenue (+11%). Net earnings were $0.37B, down 1% year over year. The effective tax rate was 26.0%.
Operating cash flow was $0.37B (up 111% year over year), 100% of net earnings. Non-cash charges added back $0.02B of depreciation and amortization and $4.3M of share-based compensation. Working capital and other items used $0.03B. Capital expenditures of $0.03B left free cash flow of $0.34B.
Questions
What was Toll Brothers' revenue in the third quarter fiscal 2025?
Toll Brothers (TOL) reported revenue of $2.9B for the third quarter fiscal 2025 (Q3 FY25), +8% from a year earlier and +8% from the quarter before.
Was Toll Brothers profitable in the third quarter fiscal 2025?
Operating profit was $488M (16.6% of revenue) and net earnings $369M.
Source: Toll Brothers 10-Q on SEC EDGAR.