Filing Flows › Toll Brothers (TOL) › Q3 FY26 › vs Q3 FY25
Toll Brothers (TOL) Q3 FY26 vs Q3 FY25 (year over year)
Toll Brothers's revenue fell $286M (-10%) from $2.9B in Q3 FY25 to $2.7B in Q3 FY26. The biggest changes: Home sales −$228M (-8%); Land sales and other −$57.8M (-90%); Management Fee +$28K (+3%). Operating margin 13.5% against 16.6% (-3.1 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 Q3 FY25, the increases inside each band.
Margins
| Q3 FY26 | Q3 FY25 | Change | |
|---|---|---|---|
| Operating margin | 13.5% | 16.6% | -3.1 pts |
| Net margin | 10.5% | 12.6% | -2.0 pts |
| Free cash flow margin | 8.3% | 11.7% | -3.4 pts |
Every line
| Line | Q3 FY26 | Q3 FY25 | Change | % |
|---|---|---|---|---|
| Home sales | $2.7B | $2.9B | −$228M | -8% |
| Land sales and other | $6.3M | $64.1M | −$57.8M | -90% |
| Management Fee | $953K | $925K | $28K | +3% |
| Revenue | $2.7B | $2.9B | −$286M | -10% |
| Other income, net | $15.7M | $12.0M | $3.7M | +31% |
| Operating profit | $359M | $488M | −$129M | -26% |
| Costs & expenses | $2.3B | $2.5B | −$158M | -6% |
| Pre-tax earnings | $375M | $500M | −$125M | -25% |
| Cost of revenue | $2.0B | $2.2B | −$170M | -8% |
| SG&A | $266M | $254M | $12.4M | +5% |
| Net earnings | $280M | $370M | −$89.6M | -24% |
| Income tax | $94.6M | $130M | −$35.2M | -27% |
| Depreciation & amortization | $20.9M | $22.3M | −$1.4M | -6% |
| Share-based compensation | $4.4M | $4.3M | $61K | +1% |
| Working capital & other | $55.2M | $26.2M | $29.0M | +111% |
| Operating cash flow | $250M | $370M | −$120M | -32% |
| Free cash flow (OCF − capex) | $220M | $345M | −$125M | -36% |
| Capital expenditures | $30.7M | $25.4M | $5.3M | +21% |
Questions
How much did Toll Brothers's revenue grow year over year in Q3 FY26?
Toll Brothers's revenue fell $286M (-10%) from $2.9B in Q3 FY25 to $2.7B in Q3 FY26.
What drove Toll Brothers's revenue change in Q3 FY26?
Home sales −$228M (-8%); Land sales and other −$57.8M (-90%); Management Fee +$28K (+3%).