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Toll Brothers vs NVR: TOL and NVR compared
Toll Brothers is the larger company: $2.7B of revenue in its latest quarter (Q3 FY26) against $2.4B for NVR (Q3 2026). NVR is growing faster (-8% against -10% a year earlier). NVR is more profitable, with an operating margin of 13.9% against 13.5%.
Where the money goes: TOL and NVR
Toll Brothers (TOL) · Q3 FY26
Toll Brothers, Q3 FY26: revenue $2.7B (-10% year over year), operating margin 13.5%, net earnings $280M, operating cash flow $250M. The chart follows the revenue to costs, profit and cash.
NVR (NVR) · Q3 2026
NVR, Q3 2026: revenue $2.4B (-8% year over year), operating margin 13.9%, net earnings $249M, operating cash flow $224M. The chart follows the revenue to costs, profit and cash.
| Toll Brothers (TOL) | NVR (NVR) | |
|---|---|---|
| Latest quarter | Q3 FY26 | Q3 2026 |
| Revenue | $2.7B | $2.4B |
| Revenue growth, Y/Y | -10% | -8% |
| Operating margin | 13.5% | 13.9% |
| Net earnings | $280M | $249M |
| Net margin | 10.5% | 10.3% |
| Operating cash flow | $250M | $224M |
| Free cash flow | $220M | $205M |
| Market value | $14.5B | $17.5B |
| P/E | 12.1× | 17.4× |
| Analysts’ mean target | $169.11 | $6229.67 |
Where the revenue comes from
Toll Brothers
- Home sales: $2.7B (100%)
- Land sales and other: $6.3M (0%)
- Management Fee: $953K (0%)
NVR
- Home Building Segment: $2.3B (98%)
- Mortgage Banking: $53.1M (2%)
Questions
Which is bigger, Toll Brothers or NVR?
Toll Brothers is the larger company: $2.7B of revenue in its latest quarter (Q3 FY26) against $2.4B for NVR (Q3 2026).
Is Toll Brothers or NVR growing faster?
NVR is growing faster (-8% against -10% a year earlier).
Which is more profitable, Toll Brothers or NVR?
NVR is more profitable, with an operating margin of 13.9% against 13.5%.
More: Toll Brothers earnings · how Toll Brothers makes money · NVR earnings · how NVR makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 28, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.