Toll Brothers (TOL) Operating Expenses (2009 - 2026)
Toll Brothers (TOL) reported Operating Expenses of $266.07 million for fiscal Q3 2026 (quarter ended Jul 31, 2026), up 4.9% from $253.67 million a year earlier and up 3.0% from the prior quarter.
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Analysis
Toll Brothers (TOL) Operating Expenses (2009 - 2026) Analysis & Trends
Over the twelve months ended Jul 31, 2026, Toll Brothers' Operating Expenses came in at $1.07 billion, up 4.6% year-over-year; for FY2025 (ended Oct 31, 2025), it came in at $1.03 billion, up 5.2% from FY2024.
- Operating Expenses has a five-year compound annual growth rate of 3.6% (FY2020 to FY2025).
- By fiscal year, Operating Expenses came in at $982.29 million in FY2024 (+8.0%), $909.45 million in FY2023 (-7.0%), $977.75 million in FY2022 (+6.0%) and $922.02 million in FY2021 (+6.3%).
- Five-year quarterly Operating Expenses spans a low of $211.5 million in fiscal Q1 2023 and a high of $283.78 million in fiscal Q4 2025.
- Year over year, Operating Expenses has now increased in each of the last 11 quarters, with growth averaging 5.7% over the last eight quarters.
- The high point for year-over-year Operating Expenses in five years was fiscal Q4 2024 (growth of 11.7%); the low point was fiscal Q4 2023 (a decline of 12.0%).
- Per Business Quant data, the three fiscal quarters before Q3 2026 came in at $258.25 million (Q2 2026), $257.94 million (Q1 2026) and $283.78 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Horton D R | 39.14 Bn | 30.03 Bn | 2.15 Bn | 991.20 Mn |
| 2 | Pultegroup | 22.34 Bn | 15.63 Bn | 1.06 Bn | 382.97 Mn |
| 3 | Lennar | 17.27 Bn | 6.70 Bn | 807.31 Mn | 7.54 Bn |
| 4 | Nvr | 16.72 Bn | 10.01 Bn | 485.14 Mn | 150.72 Mn |
| 5 | Toll Brothers | 12.58 Bn | 7.96 Bn | 625.22 Mn | 266.07 Mn |
| 6 | Taylor Morrison Home | 6.77 Bn | 4.76 Bn | 290.64 Mn | 58.97 Mn |
| 7 | Champion Homes | 4.80 Bn | 2.28 Bn | - | - |
| 8 | Cavco Industries | 4.31 Bn | 3.07 Bn | - | - |
| 9 | Meritage Homes | 4.24 Bn | 1.16 Bn | 513.60 Mn | 52.38 Mn |
| 10 | M | 3.48 Bn | 550.71 Mn | 235.50 Mn | 958.69 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 266.07 Mn |
| Apr 30, 2026 | 258.25 Mn |
| Jan 31, 2026 | 257.94 Mn |
| Oct 31, 2025 | 283.78 Mn |
| Jul 31, 2025 | 253.67 Mn |
| Apr 30, 2025 | 255.76 Mn |
| Jan 31, 2025 | 240.41 Mn |
| Oct 31, 2024 | 269.73 Mn |
| Jul 31, 2024 | 244.81 Mn |
| Apr 30, 2024 | 237.70 Mn |
| Jan 31, 2024 | 230.05 Mn |
| Oct 31, 2023 | 241.41 Mn |
| Jul 31, 2023 | 229.00 Mn |
| Apr 30, 2023 | 227.54 Mn |
| Jan 31, 2023 | 211.50 Mn |
| Oct 31, 2022 | 274.38 Mn |
| Jul 31, 2022 | 232.87 Mn |
| Apr 30, 2022 | 243.64 Mn |
| Jan 31, 2022 | 226.87 Mn |
| Oct 31, 2021 | 258.20 Mn |
API Access
Toll Brothers Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=TOL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "TOL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=TOL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();