Toll Brothers, Inc. (NYSE: TOL)

Toll Brothers, Inc. designs builds markets sells and arranges financing for luxury residential single family detached homes attached homes master planned communities and urban low mid and high rise communities. The company also develops high density high rise urban luxury condominiums under the Toll Brothers City Living brand with third party joint venture partners. In addition Toll Brothers develops and operates urban and suburban for rent apartment and student housing communities under the Toll Brothers Apartment Living and Toll Brothers Campus Living brands primarily through joint ventures.

Toll Brothers generates revenue primarily from the sale of homes to buyers. The company also earns income from mortgage financing provided through its subsidiary Toll Brothers Mortgage Company. Additional revenue comes from construction and management fees earned from joint ventures and from the sale of interests in joint venture projects. The company’s backlog of homes under contract contributes to future revenue as homes are delivered.

Toll Brothers holds a strong position in the US luxury home building market competing with national and regional builders such as Lennar Corporation D R Horton and PulteGroup. The company’s competitive advantages include its reputation for quality and design its financial stability its ability to offer a broad range of price points and its extensive geographic footprint across 24 states and the District of Columbia.

Toll Brothers serves luxury first time buyers move up buyers empty nesters active adults and second home buyers across the United States. The company’s customers include individuals seeking primary residences vacation homes and age restricted active adult communities.