Toll Brothers, Inc. (TOL)

Operative Builders

Latest Price

$134.75

TTM P/E

10.88

Normalized P/E

10.76

Div Yield

0.76%

Book Value

92.58

P/B Ratio

1.46

Valuation metrics

EPS: $13.49

Book value / share: $87.24

Formula: √(22.5 × EPS × BVPS)

Graham Number

$162.73

+21% upside

Norm. op. income: $1.5B (median of 7yr)

Tax rate: 25%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$133.17

1% downside

Base FCF: $1.0B (median of recent 5yr)

Growth: 17%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$472.52

+251% upside

EPS: $13.49

Target P/E: 11×

Formula: EPS × P/E

P/E Fair Value

$148.39

+10% upside

93.1% held by institutions

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Geode Capital Management, LLC	2.49M	$410.0M	2.65%	+111.2K	2026-06-30
Price T Rowe Associates Inc	1.89M	$312.0M	2.02%	+1.50M	2026-06-30