From several homes built in suburban Philadelphia in 1967 to more than 130,000 homes sold to date, Toll Brothers has a long track record of growth through geographic expansion, product diversification, and innovation.
When Toll Brothers went public in 1986, we were a regional builder in the metro Philadelphia/Central New Jersey area. By 1990, our footprint stretched from Baltimore to Boston. Our transition to a national builder began with our expansion into California and Texas in the early 1990s. Today, we operate in over 50 markets in 24 states and Washington, DC. We continue to grow in our current markets and are expanding into new markets through establishing our own operations and acquiring home builders.
Similarly, we have expanded our product lines and customer base. At the start, we focused on building move-up single-family and attached homes for growing families. We entered the active-adult market in the late 1990s, recognizing an interest among 55+ buyers for luxury communities with features such as first-floor primary bedroom suites and resort-style amenities. In the early 2000s, we expanded into the development of rental apartments—now a nationwide urban and suburban platform—and the urban mid- and high-rise condominium market.
More recently, we have moved to attract those customers, particularly millennials, who desire the luxury and quality of the Toll Brothers brand but at a more affordable price point.
As buyers reflect on the spaces within their homes and determine how their homes can better fit their lives, we have continued to innovate and build upon our established offerings. In response to surging interest in personalized floor plans, we have designed options to suit individual home buyers' unique needs: from living areas that reflect how families live, to productive workspaces for professionals and students, to dynamic designs that blend indoor and outdoor living.
Over the years, we have expanded into more markets with more team members and more product offerings, but our focus has remained steadfast: delight the buyer by operating from a place of excellence. With well-located land holdings, distinctive luxury home designs that appeal to a broad range of home seekers, and a unique build-to-order model that meets the needs of modern buyers looking for a personalized space to suit their lifestyle, we are strategically positioned for continued growth.
luxury homes and communities
industry-leading reputation and brand
diverse product lines
Information for and as of FYE October 31, 2021, unless otherwise noted.
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§Click here to see "Reconciliation of Non-GAAP Measures" on page (i) of the Toll Brothers 2021 Annual Report for more information on the calculation of the company's net debt-to-capital ratio.
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