Filing Flows › Toll Brothers (TOL) › Q3 FY26 › vs Q2 FY26
Toll Brothers (TOL) Q3 FY26 vs Q2 FY26 (quarter over quarter)
Toll Brothers's revenue rose $128M (+5%) from $2.5B in Q2 FY26 to $2.7B in Q3 FY26. The biggest changes: Home sales +$140M (+6%); Land sales and other −$12.5M (-66%); Management Fee −$82K (-8%). Operating margin 13.5% against 13.7% (-0.2 pts).
Toll Brothers, Q3 FY26: revenue $2.7B (-10% year over year), operating margin 13.5%, net earnings $280M, operating cash flow $250M. The chart draws each line against Q2 FY26, the increases inside each band.
Margins
| Q3 FY26 | Q2 FY26 | Change | |
|---|---|---|---|
| Operating margin | 13.5% | 13.7% | -0.2 pts |
| Net margin | 10.5% | 10.3% | +0.2 pts |
| Free cash flow margin | 8.3% | 4.3% | +3.9 pts |
Every line
| Line | Q3 FY26 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| Home sales | $2.7B | $2.5B | $140M | +6% |
| Land sales and other | $6.3M | $18.8M | −$12.5M | -66% |
| Management Fee | $953K | $1.0M | −$82K | -8% |
| Revenue | $2.7B | $2.5B | $128M | +5% |
| Other income, net | $15.7M | $3.8M | $12.0M | +319% |
| Operating profit | $359M | $347M | $12.5M | +4% |
| Costs & expenses | $2.3B | $2.2B | $115M | +5% |
| Pre-tax earnings | $375M | $350M | $24.5M | +7% |
| Cost of revenue | $2.0B | $1.9B | $107M | +6% |
| SG&A | $266M | $258M | $7.8M | +3% |
| Net earnings | $280M | $261M | $19.6M | +8% |
| Income tax | $94.6M | $89.8M | $4.9M | +5% |
| Depreciation & amortization | $20.9M | $17.3M | $3.7M | +21% |
| Share-based compensation | $4.4M | $4.5M | −$143K | -3% |
| Working capital & other | $55.2M | $148M | −$92.7M | -63% |
| Operating cash flow | $250M | $134M | $116M | +86% |
| Free cash flow (OCF − capex) | $220M | $110M | $110M | +100% |
| Capital expenditures | $30.7M | $24.5M | $6.2M | +25% |
Questions
How much did Toll Brothers's revenue grow quarter over quarter in Q3 FY26?
Toll Brothers's revenue rose $128M (+5%) from $2.5B in Q2 FY26 to $2.7B in Q3 FY26.
What drove Toll Brothers's revenue change in Q3 FY26?
Home sales +$140M (+6%); Land sales and other −$12.5M (-66%); Management Fee −$82K (-8%).