1967Our Story Begins
Toll Brothers is founded by brothers Bob and Bruce Toll in southeastern Pennsylvania. Following in the footsteps of their father, a home builder, the brothers build their first two homes.
Sustainability Report
A Commitment to Stronger Communities
Home building is a vital industry, and our opportunity to make an impact is significant. This starts with the tremendous economic impact of our industry as a job-creating engine. Toll Brothers directly employs approximately 5,000 people, which does not include the tens of thousands of suppliers and trade partners we contract and work with every day and who helped us build nearly 11,300 homes in fiscal year 2025. In fact, the National Association of Home Builders (NAHB) has estimated that, on average, building 1,000 single-family homes creates 2,900 full-time jobs. Based on this estimate, we helped create over 31,900 jobs in fiscal year 2025 alone. These jobs, which include framers, plumbers, painters, electricians, carpenters, furniture makers, real estate brokers, site planners, and many others, are critical drivers of economic growth in the communities we serve. We are proud to be part of a bedrock industry that continually refreshes the nation's housing supply while also creating so many good jobs. The communities we develop also contribute to the vibrancy and the tax base of the towns and cities where we build, enhancing the quality of life for our customers and for the municipalities as a whole. This contribution includes not only the beautiful communities we build but also the civic participation of our residents and our employees across the 60+ markets nationwide where we have a presence.
In our communities, we strive to fulfill the aspirations of those seeking a home they love. With our first time, move-up, empty nester, and active-adult new home communities, as well as rental and urban condominium communities, we have the widest variety of offerings in the industry. And in a nation where the housing shortage is well-documented, our mission is more important than ever—we want to be part of the solution to this major public policy concern.
As an employer, we seek to provide equal opportunities and growth to all. Our culture at Toll Brothers is founded on principles of respect, integrity, and taking care of one another, and we work hard to apply these principles every day. Providing an environment where all employees are treated with fairness, dignity, and respect, and where they have opportunities to grow and thrive, is aligned with our values and critical to our success.
In preparing this Sustainability Report, we have focused on matters we believe are important to our broad and varied stakeholders, including our customers, shareholders, financial partners, trade partners, the communities in which we build and, of course, our employees. We have included information that we believe is significant to a broader understanding of our business and which goes beyond the financial information included in our regulatory reports. At the same time, we have been mindful of the significant costs and burdens that collecting and vetting certain data could impose on both our Company and our trade partners.
Since Toll Brothers was founded in 1967, we have taken seriously our responsibilities to the broader communities in which we build and to the environment. Whether this involves thoughtful land planning, sustainable land stewardship, planting trees, creating parks and hiking trails, supporting local organizations, or reducing water use, energy consumption, and waste production, our goal is to build beautiful communities that enhance both the lives of our residents and the environments in which we all live.
About This Report
Toll Brothers views its sustainability program as an important component to its success. We pride ourselves on our ability to serve our employees, trade partners, customers, and the communities in which we operate with care and dedication. We bring those same values in our approach to business sustainability issues.
We periodically engage with our key stakeholders regarding matters that are important to our business, including our sustainability strategy. We use the Sustainability Accounting Standards Board (SASB) industry-specific standards to help identify topics of relevance for our audience and we periodically update this report to present additional data.
We evaluate our sustainability reporting initiatives with input from various stakeholders. There continues to be a lack of consensus regarding the appropriate scope of reporting for enterprises, and significant variations in the application of the many standards that have been proposed by the multitude of standard setting bodies. Due to this uncertainty, and the significant costs associated with implementing processes and procedures responsive to rules that will change, we continue to evaluate the reporting landscape and will supplement as the reporting landscape develops.
Unless otherwise noted, information in this report is as of October 31, 2025. For additional, important information about the data included in this report, click here.
Link to Task Force on Climate-Related Financial Disclosures Report including greenhouse gas emissions data
Inquiries regarding our sustainability initiatives can be directed to Sustainability@TollBrothers.com.
Sustainability
We believe that sustainability and preservation of the natural environment are important to building exceptional homes and communities.
by the numbers—2025
At Toll Brothers, we are dedicated to minimizing our impact on the environment by embracing responsible land development and planning processes and building homes that more efficiently utilize resources. Some of our fiscal year 2025 highlights include:
2,590acres of open space preserved
151Miles of walking/biking trails built151
51,598number of trees planted51,598
84number of parks built84
| SASB | PERFORMANCE INDICATOR | FY 2023 | FY 2024 | FY 2025 |
| land use and ecological impacts | |||
| IF-HB-160a.1Number of lots and homes delivered on redevelopment sites | 2,232 | 3,289 | 3,982 |
| IF-HB-160a.2Number of lots and homes delivered in regions with High or Extremely High Baseline Water Stress | 3,278 | 5,140 | 3,909 |
| IF-HB-160a.3Total amount of monetary losses as a result of legal proceedings associated with environmental regulations | $1,500 | $6,750 | $14,000 |
| IF-HB-160a.4Discussion of process to integrate environmental considerations into site selection, site design, and site development, and construction | Click here | ||
| design for resource efficency | |||
| IF-HB-410a.1†(1) Number of homes that obtained a certified HERS Index Score and (2) average score | (1) 4,080 (2) 60 | (1) 4,240 (2) 59 | (1) 5,366 (2) 56 |
| IF-HB-410a.2Percent of installed water fixtures certified to WaterSense specifications** | 78% | 80% | 85% |
| IF-HB-410a.3Number of homes delivered certified to a third-party multi-attribute green building standard: | |||
| LEED* | 641 | 525 | 1,257 |
| Green by NGBS* | 290 | 1,141 | 828 |
| Florida Green Building Coalition | 64 | 67 | 89 |
| Energy Star | 293 | 373 | 396 |
| IF-HB-410a.4Description of risks and opportunities related to incorporating resource efficency into home design and description of how benefits are communicated to customers | Click here | ||
| community impacts of new developments | |||
| IF-HB-410b.1Description of how proximity and access to infrastructure, services, and economic centers affect site selection and development decisions | Click here | ||
| IF-HB-410b.2Number of lots and homes delivered on infill sites | 3,093 | 3,288 | 6,019 |
| IF-HB-410b.3Number of homes delivered in compact developments | |||
| Multi-family rental units* | 2,111 | 2,457 | 3,878 |
| Multi-family for-sale units* | 9 | 238 | 67 |
| IF-HB-410b.3Average density of compact developments | |||
| Multi-family rental units/acre* | 69 | 79 | 56 |
| Multi-family for-sale units/acre* | 274 | 323 | 323 |
| climate change adaptation | |||
| IF-HB-420a.2Description of climate change risk exposure analysis, degree of systematic portfolio exposure, and strategies for mitigating risks | Click here | ||
| sustainable products | |||
| Number of Energy Star Appliances delivered in calendar year | 5,227 | 4,187 | 54,492 |
| Number of electric car charging options enabled | 1,820 | 2,842 | 2,009 |
| corporate operational efficiencies | |||
| Paper recycled company-wide (in tons) | 134.0 | 111.2 | 102.1 |
| *Current tracking includes only those homes built in high-density communities (primarily Apartment Living and City Living units). | |||
| **Data is for Calendar Year. | |||
| †Updated data due to improved data gathering methodology | |||
| For important information regarding the data in this report, click here. | |||
TABLE
Governance
Sound corporate governance enables our company to operate with integrity while promoting long-term value creation for our stockholders and other stakeholders.
We are committed to sound corporate governance. This commitment is rooted in the oversight of a capable, independent Board of Directors, strengthened by ongoing dialogue with our stockholders, and guided by policies that enable the success of our strategy and business objectives.
toll brothers corporate headquarters|fort washington, pa
At Toll Brothers, one of our six guiding principles is to Do the Right Thing. This value is reflected in the way we approach corporate governance. Our Board of Directors and management team are committed to sound corporate governance practices and policies that ensure our company operates ethically and with integrity, and that it is managed to maximize the long-term interests of our stakeholders. In short, our approach to corporate governance enables all of us to Do the Right Thing.
Douglas C. Yearley, Jr. | Executive Chairman
About Us
We are driven by high standards ingrained in our corporate culture and honed over more than 50 years.
Every day, we strive to honor our company legacy and maintain the standards that have established Toll Brothers as an industry leader and a luxury brand that stands the test of time.
results rooted in history
#1
Nation's leading builder
of luxury homes
9
Toll Brothers was named the #1 Most Admired Home Builder in Fortune magazine's 2026 list of the World's Most Admired Companies®, the ninth year the Company has achieved this honor
a+
Better Business
Bureau rating
170K+
Homes delivered
since 2000
2,568
Communities opened
for sale since 2000
| SASB | PERFORMANCE INDICATOR | FY 2023 | FY 2024 | FYE 2025 |
| IF-HB-000.aNumber of controlled lots | 70,664 | 74,719 | 76,102 |
| IF-HB-000.bNumber of homes delivered | 9,597 | 10,813 | 11,292 |
| IF-HB-000.cNumber of active selling communities (FYE) | 370 | 408 | 446 |
| Average delivered home price | $1,028,000 | $976,900 | $960,200 |
| Average price in backlog (FYE) | $1,055,800 | $1,078,700 | $1,182,300 |
| Home sales revenues | $9.9B | $10.6B | $10.8B |
| Net signed contract value | $7.9B | $10.1B | $9.9B |
| Number of homes under contract | 8,077 | 10,231 | 9,943 |
| For important information regarding the data included in this report, click here. | |||
from left to right: bob toll, albert toll, bruce tollExcellence From Day One
1975
Breaks ground on Yardley Hunt, its first large master-planned community concept designed for commuter residents, following the completion of the newly connected I-95 corridor to New York City.
1982Makes first move out of Pennsylvania
Enters neighboring New Jersey.
1984
1KSells 1,000th home
1986NYSE: TOL
Becomes a public company and is listed on the New York Stock Exchange (NYSE: TOL) with revenues of $124.6 million from 15 communities.
1987
Enters Delaware
Launches in-house marketing firm, Toll Architecture and Eastern States Engineering (ESE), the engineering, survey, and environmental planning group.
Opens first Toll Integrated Systems plant (TIS) in the Philadelphia area to manufacture and supply quality engineered construction components and related services in a factory-controlled environment.
1988
Enters Maryland and Massachusetts.
Extends into the mortgage industry with Westminster Mortgage, now named Toll Brothers Mortgage Company.
Receives first Builder of the Year Award by Professional Builder magazine.
1992
Enters Virginia and Connecticut.
Opens Westminster Title, a whollyowned full-service title company.
1993
10KSells 10,000th home
Enters New York.
Holds first-ever Toll Brothers Gala fundraiser, initiating a decades-long philanthropic undertaking.
1994
Enters California and North Carolina.
1995
Enters Texas, Florida, Arizona, Virginia and Connecticut.
Incorporates TBI Smart Home Solutions, now named Toll Brothers Smart Home Solutions, providing customers security and home control solutions to suit evolving lifestyles.
1996
Makes online debut with TollBrothers.com.
1998
Enters Nevada and Illinois.
Develops first rental community, Dulles Greene apartment community in Herndon, Virginia.
1999
Enters Michigan.
Develops first active-adult community, Riviera at Westlake in New Jersey.
2001
Enters Colorado.
2003
Acquires Hoboken, NJ-based The Manhattan Building Company, spurring the launch of Toll Brothers City Living.
2004
Opens first Toll Brothers Design Studio in Florida, offering a showroom environment to view and compare personalization options.
2005
Begins sponsorship of the Metropolitan Opera Radio broadcasts.
Bob Toll is one of 30 CEOs named to The World's Most Respected CEOs list by Barron's magazine.
2006
For the second year in a row, Bob Toll is named one of the top CEOs by Barron's magazine.
2008
Naval Square community is recognized by the Preservation Alliance for Greater Philadelphia as a recipient of the 2008 Grand Jury Award for Preservation Achievement.
2010Douglas C. Yearley, Jr. named CEO
Douglas C. Yearley, Jr. is named Chief Executive Officer and Bob Toll takes on the role of Executive Chairman of the Board.
2012
Enters Washington.
Receives second Builder of the Year Award by Professional Builder magazine.
2013
Acquires Shapell Industries, transforming the Toll Brothers footprint with a major expansion into coastal California.
Initiates a paid day of service for employees.
2014
100KSells 100,000th home.
Named Builder of the Year by Builder magazine.
2015
Takes the #1 spot as the “World's Most Admired Home Builder“ on the FORTUNE magazine World’s Most Admired Companies list and “America's Most Trusted Builder“ by Lifestory Research.
Breaks ground on Terrapin Row in College Park, Maryland, the first Toll Brothers Campus Living project.
Certified as a Great Place to Work® for the first time.
2016
Enters Idaho with the acquisition of Coleman Homes.
In the FORTUNE magazine 2016 Survey of the “World's Most Admired Companies®,“ ranked #6 worldwide across all industries in Quality of Products/Services Offered after Apple, Walt Disney, Amazon, Alphabet, and Nordstrom, and before Netflix and Facebook; in the same 2016 survey, again named the “#1 Home Builder Worldwide.“
Celebrates 30 years as a public company by ringing the bell at the New York Stock Exchange (NYSE).
2017
50thCelebrates 50th anniversary by ringing the bell at the NYSE.
Partners with the Cristo Rey Philadelphia Work-Study Program in the Greater Philadelphia region.
Receives the ENERGY STAR Certified Homes Market Leader Award.
Completes first S&P Corporate Sustainability Assessment (formerly Dow Jones Sustainability Index).
Introduces parental leave policy.
2019
Enters Georgia with the acquisition of Sharp Residential and South Carolina with the acquisition of Sabal Homes.
Establishes multi-department Sustainability Committee.
Completes first Human Rights Equality Index.
Establishes three Employee Resource Groups (ERGs): Toll Women's Network, Veterans at Toll, and Toll PRIDE.
2020
Enters Tennessee with the acquisition of Thrive Residential.
The nonprofit Building Talent Foundation (BTF) is founded by Toll Brothers and other leading residential construction companies in the U.S.
Establishes two additional ERGs: BELIEVE (Black Employees Leading Inclusion, Excellence, Vision, and Education) and MOSAIC (Multicultural Organization Supporting an Inclusive Culture).
Opens new corporate headquarters in Fort Washington, Pennsylvania with a host of integrated features that promote sustainability priorities.
2021Publishes Inaugural Sustainability Report
2022Bob Toll - A Life Fondly Remembered
Robert I. Toll, 1940-2022 | Our founder, mentor, and friend, Bob Toll, leaves behind a legacy of visionary leadership, incomparable life lessons, and generous giving. Learn more on our Bob Toll tribute site.
The Company marks over 150,000 families now living in a Toll Brothers home.
For the first time, Toll Brothers surpasses 10,000 homes delivered in a fiscal year (10,515 homes in fiscal 2022).
Expands presence in Texas with the acquisition of Rialto Homes in San Antonio.
2023
Named to the Fortune World's Most Admired Companies™ list for the eighth consecutive year.
2024
For the first time, home building revenue exceeds $10B.
Chairman and CEO, Douglas C. Yearley, Jr. named one of 25 Top CEOs by Barron’s magazine.
Toll Brothers marks 10 years in a row being named to the Fortune World's Most Admired Companies™ list*.
2025
Establishes additional ERG: ADAPT (Abled and Disabled Allies Partnering Together).
Toll Brothers marks 10+ years in a row being named to the Fortune World’s Most Admired Companies™ list.**
2026Karl K. Mistry named CEO
Named the #1 Home Builder in Fortune magazine's 2026 survey of the World's Most Admired Companies®, the ninth year the Company has achieved this honor.
Karl K. Mistry named Chief Executive Officer and Douglas C. Yearley, Jr. takes on the role of Executive Chairman of the Board.
Enters Arkansas with the acquisition of Buffington Homes in the Fayetteville/Bentonville market.
Inquiries and feedback regarding our sustainability initiatives can be directed to Sustainability@TollBrothers.com
Toll Brothers, Inc. Sustainability Report | Important Information and Disclaimers
The information presented in this report is non-financial in nature and therefore has not been prepared in accordance with generally accepted accounting principles (GAAP), nor reviewed or evaluated using an established control framework. It has not been independently audited. Information presented, including performance or other metrics, may be based on estimates and assumptions that require a high degree of complex and subjective judgement, and may not necessarily be comparable with that presented by other companies or as calculated pursuant to any third-party standards of sustainability reporting. Inclusion of information in this report is not an indication that we deem such information to be material or important to an understanding of our business or an investment decision with respect to our securities.
Unless expressly stated otherwise, this report covers our owned and operated businesses and does not address the performance, or conduct or operations of our suppliers, contractors, and partners. Historical information is as of October 31, 2025 unless otherwise noted.
This report contains forward-looking statements relating to Toll Brothers operations that are based on management's current expectations, beliefs, estimates, and projections about the homebuilding, land development, real estate, and related industries and other matters. These statements are not guarantees of future conduct, performance or policy and are subject to certain risks, uncertainties and other factors, many of which are beyond the company's control, including local, state, and federal regulations and economic conditions that may impact Toll Brothers, Inc.'s financial results or its operational or sustainability-related performance. See the forward-looking disclaimer below for a description of these risks, uncertainties, and other factors.
Therefore, the actual conduct of our activities, including the development, implementation, or continuation of any program, policy, or initiative discussed or forecasted in this report, may differ materially in the future. As with any projection or estimate, actual results or numbers may vary. Many of the standards and metrics used in preparing this report continue to evolve and are based on management assumptions believed to be reasonable at the time of preparation but should not be considered guarantees.
Any statements of intention in this report speak only as of the date they first appeared in this report.
Toll Brothers undertakes no obligation to update publicly any statement in this report.
This report contains references to Toll Brothers' website. These references are for readers' convenience only and Toll Brothers is not incorporating by reference any information posted on tollbrothers.com.
As used in this report, the term "Toll Brothers" and such terms as "the company," "the corporation," "our," "its," "we," and "us" may refer to one or more of Toll Brothers' consolidated subsidiaries, affiliates, and in certain instances, our joint ventures. All of these terms are used for convenience only and are not intended as a precise description of any of the separate companies, each of which manages its own affairs.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION
This report contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. One can identify these statements by the fact that they do not relate to matters of a strictly historical or factual nature and generally discuss or relate to future events. These statements contain words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "may," "can," "could," "might," "should," "likely," "will," and other words or phrases of similar meaning. Such statements may include, but are not limited to, information and statements regarding: our ability to successfully manage leadership transitions; market conditions; mortgage rates; inflation rates; demand for our homes; our build- to-order and spec strategy; sales paces and prices; effects of home buyer cancellations; our strategic priorities; growth and expansion; our land acquisition, land development and capital allocation priorities; anticipated operating results; home deliveries; financial resources and condition; changes in revenues, profitability, margins and returns; changes in accounting treatment; cost of revenues, including expected labor and material costs; availability of labor and materials; impacts of tariffs; selling, general and administrative expenses; interest expense; inventory write-downs; home warranty and construction defect claims; unrecognized tax benefits; anticipated tax refunds; joint ventures in which we are involved; anticipated results from our investments in unconsolidated entities; our plans and expectations regarding our announced exit from the multifamily development business, including the disposition of our remaining assets; our ability to acquire land and pursue real estate opportunities; our ability to gain approvals and open new communities; our ability to market, construct and sell homes and properties; our ability to deliver homes from backlog; our ability to secure materials and subcontractors; our ability to produce the liquidity and capital necessary to conduct normal business operations or to expand and take advantage of opportunities; the outcome of legal proceedings, investigations, and claims; management succession plans; and the impact of public health or other emergencies.
- Any or all of the forward-looking statements included in this release are not guarantees of future performance and may turn out to be inaccurate. This can occur as a result of incorrect assumptions or as a consequence of known or unknown risks and uncertainties. The major risks and uncertainties — and assumptions that are made — that affect our business and may cause actual results to differ from these forward-looking statements include, but are not limited to:
- the effect of general economic conditions, including employment rates, housing starts, inflation rates, interest and mortgage rates, availability of financing for home mortgages and strength of the U.S. dollar; market demand for our products, which is related to the strength of the various U.S. business segments and U.S. and international economic conditions;
- the availability of desirable and reasonably priced land and our ability to control, purchase, hold and develop such land;
- access to adequate capital on acceptable terms;
- geographic concentration of our operations;
- levels of competition;
- the price and availability of lumber, other raw materials, home components and labor;
- the effect of U.S. trade policies, including the imposition of tariffs and duties on home building products and retaliatory measures taken by other countries;
- the effects of weather and the risk of loss from earthquakes, volcanoes, fires, floods, droughts, windstorms, hurricanes, pest infestations and other natural disasters, and the risk of delays, reduced consumer demand, unavailability of insurance, and shortages and price increases in labor or materials associated with such natural disasters;
- risks arising from acts of war, terrorism or outbreaks of contagious diseases, such as Covid-19;
- federal and state tax policies;
- transportation costs;
- the effect of land use, environment and other governmental laws and regulations;
- legal proceedings or disputes and the adequacy of reserves;
- risks relating to any unforeseen changes to or effects on liabilities, future capital expenditures, revenues, expenses, earnings, indebtedness, financial condition, losses and future prospects;
- the effect of potential loss of key management personnel or unsuccessful management transitions;
- changes in accounting principles;
- risks related to unauthorized access to our computer systems, theft of our and our homebuyers' confidential information or other forms of cyber-attack; and other factors described in "Risk Factors" included in our Annual Report on Form 10-K for the year ended October 31, 2025 and in subsequent filings we make with the Securities and Exchange Commission ("SEC").
Many of the factors mentioned above or in other reports or public statements made by us will be important in determining our future performance. Consequently, actual results may differ materially from those that might be anticipated from our forward-looking statements.
Forward-looking statements speak only as of the date they are made. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise.
For a further discussion of factors that we believe could cause actual results to differ materially from expected and historical results, see the information under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent Annual Report on Form 10-K filed with the SEC and in subsequent reports filed with the SEC. This discussion is provided as permitted by the Private Securities Litigation Reform Act of 1995, and all of our forward-looking statements are expressly qualified in their entirety by the cautionary statements contained or referenced in this section.
†As of March 11, 2026, the date of the company's most recent shareholder meeting.
Culture
Take Care of Each Other is one of our core company values, and we take it to heart.
Care—it is part of who we are as an organization and intrinsic to the family-like atmosphere we have cultivated since our inception in 1967. That care and dedication extends not just to our employees but to our customers, partners, and the broader communities in which we build.
Employee
read moreEngagement
Safety & Quality
read moreCommunity
read moreImpact
by the numbers—fy 2025
Small steps, big impact—our collective efforts add up to meaningful results. Some of our FY 2025 highlights include:
tenure
6.9years
Average employee tenure
employee engagement
90%Percentage of employees who identified Toll Brothers as a great place to work in 2025 engagement survey
our values
Our values are the guiding principles behind our daily actions and decisions. When faced with a choice on how to get work done or how to behave with each other and our customers, we always look to our values.
A History of Giving Back
Toll Brothers has a proud legacy and an ongoing mission of contributing to major national and regional charitable organizations.
A History of Giving Back
Toll Brothers has a proud legacy and an ongoing mission of contributing to major national and regional charitable organizations.