For the quarter ending 2026-01-31, TOL had -$62,321K decrease in cash & cash equivalents over the period. -$11,594K in free cash flow.
| Cash Flow | 2026-01-31 | 2025-10-31 | 2025-07-31 |
|---|---|---|---|
| Net income | 210,932 | 446,715 | 899,771 |
| Depreciation and amortization | 16,236 | 21,808 | 60,277 |
| Stock-based compensation | 18,809 | 3,724 | 27,110 |
| (income) loss from unconsolidated entities | 35,444 | 17,320 | 1,734 |
| Gain on sale of assets | - | 0 | 0 |
| Receivables, prepaid expenses, and other assets | - | 12,652 | 12,159 |
| Distributions of earnings from unconsolidated entities | 10,784 | 35,099 | 26,312 |
| Deferred tax provision | 2,206 | 71,229 | 15,510 |
| Impairment charges and write-offs | 13,066 | 43,402 | 56,634 |
| Other - net | -801 | -191 | -549 |
| Inventory | 396,100 | -381,623 | 902,805 |
| Origination of mortgage loans | 486,080 | 828,856 | 1,817,128 |
| Sale of mortgage loans | 556,292 | 813,176 | 1,825,165 |
| Receivables, prepaid expenses, and other assets, including rental and commercial properties | -260,185 | - | - |
| Current income taxes net | 25,371 | 50,109 | -28,971 |
| Customer deposits net | 22,827 | -57,636 | -9,078 |
| Accounts payable and accrued expenses | -161,875 | -50,364 | 114,986 |
| Net cash provided by (used in) operating activities | 7,268 | 800,030 | 312,381 |
| Purchase of property, construction, and office equipment net | 18,862 | 27,832 | 58,363 |
| Investments in unconsolidated entities | 61,883 | 59,319 | 250,377 |
| Return of investments in unconsolidated entities | 65,137 | 17,253 | 64,935 |
| Proceeds from the sale of assets, including ownership interests in unconsolidated entities | - | 0 | - |
| Net increase in cash from consolidation of joint ventures | - | 5,348 | - |
| Proceeds from the sale of ownership interests in unconsolidated entities | 204,295 | - | - |
| Other net | 1,007 | -34 | 1,712 |
| Net increase in cash from consolidation of joint ventures | - | - | 5,348 |
| Net cash provided by (used in) investing activities | 187,680 | -69,864 | -240,169 |
| Proceeds from issuance of senior notes | - | 0 | 498,180 |
| Proceeds from loans payable | 478,512 | 1,065,628 | 3,459,151 |
| Redemption of senior notes | - | 0 | 350,020 |
| Debt issuance costs | - | -101 | 13,095 |
| Principal payments of loans payable | 660,570 | 1,126,969 | 3,560,059 |
| Proceeds related to sales to land bank programs | 19,797 | 29,999 | 22,071 |
| Payments related to repurchases from land bank programs | - | 29,193 | 62,292 |
| Payments related to stock-based benefit plans net | -15,099 | 1,349 | -21,272 |
| Purchase of treasury stock and excise tax payment | 50,435 | 246,720 | 404,296 |
| Dividends paid | 24,999 | 23,772 | 73,303 |
| (payments) receipts related to noncontrolling interest net | -4,475 | 58 | 579 |
| Net cash used in financing activities | -257,269 | -329,519 | -504,356 |
| Net decrease in cash, cash equivalents, and restricted cash | -62,321 | 400,647 | -432,144 |
| Cash, cash equivalents, and restricted cash, beginning of period | 1,338,938 | 1,370,435 | - |
| Cash, cash equivalents, and restricted cash, end of period | 1,276,617 | 1,338,938 | - |
Toll Brothers, Inc. (TOL)
Toll Brothers, Inc. (TOL)