Filing Flows › Toll Brothers (TOL) › Q4 FY25
Toll Brothers (TOL) Q4 FY25 earnings results (fourth quarter fiscal 2025)
10-K filed Dec 19, 2025
Toll Brothers (TOL) reported revenue of $3.4B for the fourth quarter fiscal 2025 (Q4 FY25), +3% from a year earlier and +16% from the quarter before. Operating margin was 16.5%, net earnings $448M (13.1% of revenue).
Toll Brothers, Q4 FY25: revenue $3.4B (+3% year over year), operating margin 16.5%, net earnings $448M, operating cash flow $800M. The chart follows the revenue to costs, profit and cash.
| Q4 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.4B | +16% | +3% |
| Operating profit | $564M | +16% | -8% |
| Net earnings | $448M | +21% | -6% |
| Operating cash flow | $800M | +116% | +17% |
| Free cash flow | $772M | +124% | +16% |
What changed
Revenue was $3.4B in Q4 FY25, up 3% year over year and up 16% from the previous quarter. Home sales was the largest line at 100% of revenue. Home sales added $0.15B year over year (up 5%), 171% of the total change. Land sales and other declined 87%.
Operating profit was $0.56B, a 16.5% margin (down 1.9 points year over year). Operating profit fell $0.05B even though revenue rose $0.09B versus Q4 FY24, so costs grew faster than sales. Total costs grew 5% against revenue growth of 3%. Net earnings were $0.45B, down 6% year over year. The effective tax rate was 24.6%.
Operating cash flow was $0.80B (up 17% year over year), 178% of net earnings. Non-cash charges added back $0.02B of depreciation and amortization and $3.7M of share-based compensation. Working capital and other items added $0.33B. Capital expenditures of $0.03B left free cash flow of $0.77B.
Questions
What was Toll Brothers' revenue in the fourth quarter fiscal 2025?
Toll Brothers (TOL) reported revenue of $3.4B for the fourth quarter fiscal 2025 (Q4 FY25), +3% from a year earlier and +16% from the quarter before.
Was Toll Brothers profitable in the fourth quarter fiscal 2025?
Operating profit was $564M (16.5% of revenue) and net earnings $448M.
Source: Toll Brothers 10-K on SEC EDGAR.