Toll Brothers, Inc. (TOL) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 134.45M | 7.27M | 800.03M | 370.31M | 362.85M | -420.77M | 682.51M | 175.61M | 459.03M | -306.98M | 591.4M | 529.46M | 503.33M | -357.76M | 1.23B | -41.66M | 75.73M | -280.7M | 854.7M | 421.16M |
| Operating CF Margin % | 5.31% | 0.34% | 23.37% | 12.57% | 13.25% | -22.63% | 20.47% | 6.44% | 16.18% | -15.76% | 19.58% | 19.7% | 20.08% | -20.1% | 33.23% | -1.67% | 3.32% | -15.67% | 28.1% | 18.67% |
| Operating CF Growth % | -62.95% | 101.73% | 17.22% | 110.87% | -20.95% | -37.07% | 15.41% | -66.83% | -8.8% | 14.19% | -52.05% | 1370.94% | 564.68% | -27.46% | 44.31% | -109.89% | 369.91% | -607.38% | -1.36% | 26.58% |
| Net Income | 260.59M | 210.93M | 446.71M | 369.62M | 352.45M | 177.7M | 475.41M | 374.61M | 481.62M | 239.56M | 445.54M | 414.79M | 320.22M | 191.53M | 640.54M | 273.47M | 220.59M | 151.9M | 374.33M | 234.93M |
| Depreciation & Amortization | 17.26M | 16.24M | 21.81M | 22.34M | 20.77M | 17.16M | 25.77M | 20.14M | 19.14M | 16.14M | 22.22M | 20.16M | 18.61M | 15.48M | 23.55M | 19.73M | 18.86M | 14.68M | 22.31M | 20.76M |
| Stock-Based Compensation | 4.52M | 18.81M | 3.72M | 4.32M | 4.77M | 18.02M | 3.61M | 3.81M | 3.89M | 18.25M | 3.52M | 4.26M | 2.64M | 14.38M | 1.84M | 2.24M | 3.4M | 13.62M | 3.25M | 3.66M |
| Deferred Taxes | 2.98M | 2.21M | 71.23M | 10.51M | 3.47M | 1.53M | -92.36M | 4.82M | 5.32M | 1.9M | 30.48M | -2.88M | 5.34M | 3.31M | -107.34M | 3.86M | 4.39M | 2.41M | 4.86M | 3.73M |
| Other Non-Cash Items | -381.02M | -10.79M | 45.69M | 52.26M | -92.32M | 129.85M | -11.07M | 28.09M | 45.45M | 12.63M | -12.69M | 44.41M | 20.16M | 137.63M | -44.22M | 32.98M | 975K | 113.48M | -50.47M | 39.01M |
| Working Capital Changes | 230.12M | -230.12M | 210.86M | -88.74M | 73.7M | -765.05M | 281.16M | -255.87M | -96.39M | -595.46M | 102.34M | 48.72M | 136.37M | -720.1M | 719.09M | -373.93M | -172.49M | -576.79M | 500.42M | 119.06M |
| Change in Receivables | -70.21M | 70.21M | -12.65M | -16.83M | 6.16M | -1.49M | 13.26M | 12.06M | -64.79M | 40.51M | -31.82M | 32.27M | -30.81M | 109.27M | -72.25M | 27.23M | 6.32M | -6.56M | 38.07M | 20.11M |
| Change in Inventory | -175.8M | -396.1M | 381.62M | -2.17M | -68.4M | -832.23M | 376.31M | -272.71M | -180.29M | -499.05M | 142.94M | 134.79M | 53.34M | -353.28M | 669.2M | -397.83M | -324.72M | -565.48M | 382.23M | -50.41M |
| Change in Payables | -33.78M | -161.88M | 0 | 0 | 0 | 0 | 0 | 0 | 104.65M | -87.96M | 151.14M | -19.54M | 60.97M | -216.25M | 107.48M | 21.62M | 79.31M | 0 | 41.3M | 113.08M |
| Cash from Investing | -44.88M | 187.68M | -69.86M | -52.41M | -68.3M | -119.46M | -51.58M | -15.35M | -41.32M | -59.36M | -16.97M | -34.47M | -29.78M | -69.38M | -58.25M | -23.07M | -9.5M | -62.35M | -15.55M | -30.3M |
| Capital Expenditures | -24.47M | -18.86M | -27.83M | -25.45M | -15.59M | -17.32M | -18.19M | -25.75M | -16.12M | -13.58M | -18.86M | -14.56M | -19.81M | -19.74M | -15.24M | -17.34M | -20.66M | -18.48M | -21.11M | -16.17M |
| CapEx % of Revenue | 0.97% | 0.88% | 0.81% | 0.86% | 0.57% | 0.93% | 0.55% | 0.94% | 0.57% | 0.7% | 0.62% | 0.54% | 0.79% | 1.11% | 0.41% | 0.7% | 0.91% | 1.03% | 0.69% | 0.72% |
| Acquisitions | 0 | 0 | -42.07M | -28.38M | -51.39M | -100.32M | -31.71M | 10.1M | -24.48M | -45.78M | -15.12M | -19.91M | -9.97M | -58.68M | -43.01M | -34.04M | 11.16M | -44.07M | 5.55M | -14.2M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -20.41M | 206.54M | 34K | 1.42M | -1.32M | -1.81M | -1.69M | 301K | -719K | 0 | 17.01M | 0 | 0 | 9.04M | 2K | 28.31M | 0 | 194K | 3K | 70K |
| Cash from Financing | -194.09M | -257.27M | -329.52M | -141.28M | -185.88M | -177.19M | -223.77M | -284.44M | -130.2M | -178.04M | -312.79M | -221.95M | -502.78M | -132.52M | -173.21M | -126.61M | -202.63M | -617.05M | -173.16M | -118.84M |
| Debt Issued (Net) | 0 | -182.06M | -100.76M | 126.52M | 27.26M | -106.53M | -3.18M | -19.19M | 67.89M | -145.61M | 30.35M | -71.7M | -393.78M | -125.14M | 6.88M | -5.18M | 2.03M | -465.14M | -50.17M | -4.02M |
| Equity Issued (Net) | 0 | -65.53M | -268.79M | -177.32M | -181.16M | -23.75M | -203.5M | -243.48M | -180.03M | -56K | -322.27M | -146.23M | -83.73M | -9.36M | -159.54M | -99.61M | -156.21M | -130.77M | -103.2M | -94M |
| Dividends Paid | -24.43M | -25M | -23.77M | -24.26M | -24.63M | -24.41M | -23.07M | -23.27M | -23.8M | -23.26M | -22.01M | -22.76M | -23.43M | -22.88M | -21.95M | -22.69M | -23.18M | -21.08M | -20.52M | -20.83M |
| Share Repurchases | 50.44M | -50.44M | -268.79M | -177.32M | -181.16M | -23.75M | -203.5M | -243.48M | -180.03M | -56K | -322.27M | -146.23M | -83.73M | -9.36M | -158.85M | -99.61M | -156.21M | -128.07M | -103.2M | -95.41M |
| Other Financing | -169.67M | 15.32M | 63.8M | -66.23M | -7.35M | -22.5M | 5.98M | 1.49M | 5.74M | -9.11M | 1.15M | 18.75M | -1.84M | 24.86M | 1.41M | 872K | -25.28M | -61K | 727K | 8K |
| Net Change in Cash | -104.52M | -62.32M | 400.65M | 176.62M | 108.66M | -717.42M | 407.16M | -124.18M | 287.5M | -544.39M | 261.64M | 273.04M | -29.22M | -559.67M | 1B | -191.34M | -136.41M | -960.1M | 665.99M | 272.02M |
| Free Cash Flow | 109.98M | -11.59M | 772.2M | 344.86M | 347.25M | -438.1M | 664.32M | 149.86M | 442.91M | -320.56M | 572.54M | 514.91M | 483.53M | -377.5M | 1.22B | -59M | 55.06M | -299.17M | 833.59M | 405M |
| FCF Margin % | 4.35% | -0.54% | 22.56% | 11.71% | 12.68% | -23.56% | 19.93% | 5.49% | 15.61% | -16.46% | 18.96% | 19.16% | 19.29% | -21.21% | 32.82% | -2.37% | 2.42% | -16.7% | 27.41% | 17.96% |
| FCF Growth % | -68.33% | 97.35% | 16.24% | 130.12% | -21.6% | -36.67% | 16.03% | -70.9% | -8.4% | 15.08% | -53% | 972.66% | 778.17% | -26.18% | 46.14% | -114.57% | 227.56% | -832.78% | 0.2% | 31.28% |
| FCF per Share | 1.15 | -0.12 | 7.92 | 3.43 | 3.45 | -4.30 | 6.47 | 1.44 | 4.19 | -3.02 | 5.28 | 4.63 | 4.31 | -3.36 | 10.71 | -0.51 | 0.46 | -2.44 | 6.72 | 3.22 |
| FCF Conversion (FCF/Net Income) | 0.52x | 0.03x | 1.79x | 1.00x | 1.03x | -2.37x | 1.44x | 0.47x | 0.95x | -1.28x | 1.33x | 1.28x | 1.57x | -1.87x | 1.93x | -0.15x | 0.34x | -1.85x | 2.28x | 1.79x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | -256.51M | 132.56M | 31.11M | 92.84M | 0 | 211.56M | 104.47M | 81.64M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |