Cash Flow Statement

Operating Cash Flow

+13%

+10%

10Y

Currency: USD

	Jan-2002	Apr-2002	Jul-2002	Oct-2002	Jan-2003	Apr-2003	Jul-2003	Oct-2003	Jan-2004	Apr-2004	Jul-2004	Oct-2004	Jan-2005	Apr-2005	Jul-2005	Oct-2005	Jan-2006	Apr-2006	Jul-2006	Oct-2006	Jan-2007	Apr-2007	Jul-2007	Oct-2007	Jan-2008	Apr-2008	Jul-2008	Oct-2008	Jan-2009	Apr-2009	Jul-2009	Oct-2009	Jan-2010	Apr-2010	Jul-2010	Oct-2010	Jan-2011	Apr-2011	Jul-2011	Oct-2011	Jan-2012	Apr-2012	Jul-2012	Oct-2012	Jan-2013	Apr-2013	Jul-2013	Oct-2013	Jan-2014	Apr-2014	Jul-2014	Oct-2014	Jan-2015	Apr-2015	Jul-2015	Oct-2015	Jan-2016	Apr-2016	Jul-2016	Oct-2016	Jan-2017	Apr-2017	Jul-2017	Oct-2017	Jan-2018	Apr-2018	Jul-2018	Oct-2018	Jan-2019	Apr-2019	Jul-2019	Oct-2019	Jan-2020	Apr-2020	Jul-2020	Oct-2020	Jan-2021	Apr-2021	Jul-2021	Oct-2021	Jan-2022	Apr-2022	Jul-2022	Oct-2022	Jan-2023	Apr-2023	Jul-2023	Oct-2023	Jan-2024	Apr-2024	Jul-2024	Oct-2024	Jan-2025	Apr-2025	Jul-2025	Oct-2025
Operating Cash Flow
Net Income	218	225	219	220	221	221	236	260	265	284	322	409	469	567	677	806	860	865	824	687	578	439	291	36	(115)	(245)	(301)	(298)	(291)	(280)	(723)	(756)	(708)	(665)	(165)	(3)	41	60	75	40	34	71	91	487	494	502	487	171	212	252	303	340	376	379	348	363	355	376	415	382	379	415	458	536	597	584	629	748	728	746	699	590	535	481	450	447	486	539	659	834	889	982	1 020	1 287	1 326	1 426	1 567	1 372	1 420	1 582	1 541	1 571	1 509	1 380	1 375	1 346
Depreciation & Amortization	10	10	10	11	11	11	11	12	13	14	15	15	16	17	18	20	23	26	28	30	31	32	31	30	29	28	28	28	27	26	26	24	23	21	20	20	20	21	23	23	24	24	23	23	24	25	25	25	24	24	23	23	24	24	24	24	23	23	23	23	24	24	25	25	26	26	26	25	35	46	58	72	71	69	67	69	71	72	76	76	74	77	76	77	78	77	78	76	77	78	78	81	82	84	86	82
Change in Deffered Taxes	4	2	4	2	3	4	4	18	19	20	26	32	46	42	48	27	19	29	32	9	(37)	(79)	(162)	(289)	(351)	(421)	(345)	(236)	(180)	(57)	212	(53)	0	0	(307)	61	54	54	61	(18)	(13)	(15)	(18)	42	45	63	85	75	75	76	54	47	44	36	44	62	64	56	33	19	21	22	88	218	185	184	139	(22)	10	11	5	103	102	103	111	98	98	99	90	12	13	15	15	(97)	(96)	(95)	(102)	36	35	35	43	(80)	(81)	(83)	(77)	87
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	27	13	18	23	27	27	26	24	23	17	14	13	11	10	11	11	12	12	12	12	12	13	14	15	16	16	17	18	19	21	21	22	22	21	22	22	23	25	25	26	27	27	27	28	28	28	28	28	28	28	27	26	26	31	29	27	24	24	24	24	23	24	24	23	21	22	21	23	25	29	30	29	30	29	30	31	31
Other Non-Cash Items	(4)	(3)	(1)	4	5	9	11	8	7	5	(0)	12	14	10	13	(5)	(16)	(6)	8	127	242	352	459	681	826	992	1 012	874	781	619	595	932	808	730	627	48	42	26	17	95	71	39	30	(402)	(406)	(403)	(397)	(9)	(30)	(39)	(33)	10	30	47	54	10	11	8	(2)	(9)	(41)	(83)	(129)	(109)	(104)	(47)	0	(20)	4	5	3	5	10	(0)	10	63	37	57	45	(28)	(10)	(28)	(22)	41	86	101	72	47	34	36	83	120	142	118	123	113
Cash Taxes Paid	106	116	121	117	116	118	114	109	114	99	115	147	181	277	337	364	366	379	370	368	371	371	369	323	311	207	120	78	84	22	92	39	(32)	11	(212)	(149)	(149)	(306)	(154)	0	(152)	2	3	4	1	1	1	3	8	34	40	72	169	182	196	205	141	137	160	185	226	196	157	120	105	127	148	215	231	225	205	137	101	82	77	47	35	89	146	230	291	275	319	351	479	510	542	585	443	480	555	550	561	488	409	372
Cash Interest Paid	28	28	30	30	31	31	32	39	49	45	56	50	52	58	48	23	59	42	38	20	2	18	18	15	14	13	11	23	22	25	29	33	34	40	41	34	31	27	20	19	19	12	13	1	9	10	4	18	29	0	0	10	11	18	21	24	31	16	14	12	4	20	14	22	25	20	26	21	17	29	27	35	47	33	25	18	10	7	32	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change in Working Capital	(294)	(221)	(291)	(331)	(347)	(303)	(366)	(342)	(405)	(563)	(569)	(345)	(338)	(203)	(269)	(514)	(653)	(1 028)	(1 022)	(978)	(908)	(575)	(234)	(127)	115	444	495	458	371	165	114	136	155	(30)	(11)	(272)	(308)	14	(214)	(81)	(148)	(435)	(350)	(321)	(473)	(533)	(597)	(831)	(793)	(503)	(421)	(107)	57	(143)	(306)	(398)	(383)	(380)	(623)	(264)	(185)	48	442	192	(196)	(472)	(414)	(143)	(44)	21	(80)	(333)	(462)	(321)	(81)	332	737	461	445	410	1	25	(482)	(321)	(485)	(172)	293	(265)	(249)	(457)	(825)	(682)	(757)	(699)	(512)	(515)
Cash from Operating Activities	(66) N/A	13 N/A	(59) N/A	(94) -59%	(107) -13%	(58) +46%	(105) -81%	(45) +57%	(101) -127%	(240) -137%	(207) +14%	124 N/A	207 +67%	432 +109%	486 +12%	335 -31%	234 -30%	(114) N/A	(130) -14%	(124) +4%	(93) +25%	170 N/A	385 +126%	331 -14%	504 +53%	798 +58%	890 +12%	827 -7%	708 -14%	474 -33%	223 -53%	283 +27%	269 -5%	28 -90%	164 +487%	(146) N/A	(151) -3%	175 N/A	(37) N/A	59 N/A	(32) N/A	(316) -887%	(225) +29%	(172) +24%	(315) -84%	(346) -10%	(396) -15%	(569) -44%	(514) +10%	(190) +63%	(74) +61%	313 N/A	531 +69%	342 -36%	163 -52%	60 -63%	70 +16%	82 +17%	(154) N/A	151 N/A	198 +31%	427 +115%	884 +107%	862 -3%	508 -41%	275 -46%	380 +38%	588 +55%	733 +25%	829 +13%	685 -17%	438 -36%	257 -41%	332 +30%	557 +68%	1 008 +81%	1 430 +42%	1 227 -14%	1 315 +7%	1 303 -1%	967 -26%	1 071 +11%	608 -43%	987 +62%	910 -8%	1 337 +47%	1 908 +43%	1 266 -34%	1 317 +4%	1 273 -3%	919 -28%	1 010 +10%	896 -11%	800 -11%	995 +24%	1 112 +12%
Investing Cash Flow
Capital Expenditures	(15)	(16)	(13)	(14)	(15)	(14)	(13)	(16)	(15)	(17)	(20)	(20)	(26)	(31)	(39)	(43)	(48)	(51)	(44)	(42)	(34)	(27)	(22)	(15)	(12)	(7)	(5)	(8)	(7)	(6)	(7)	(3)	(1)	(1)	(2)	(5)	(9)	(9)	(10)	(16)	(9)	(11)	(12)	(12)	(14)	(26)	(27)	(27)	(24)	(12)	(12)	(15)	(15)	(15)	(13)	(9)	(8)	(11)	(26)	(28)	(33)	(33)	(28)	(29)	(24)	(24)	(28)	(28)	(46)	(67)	(68)	(87)	(94)	(93)	(101)	(110)	(97)	(88)	(80)	(67)	(71)	(76)	(78)	(72)	(73)	(72)	(69)	(73)	(67)	(63)	(74)	(74)	(77)	(77)	(77)	(86)
Other Items	8	4	(1)	(5)	(8)	(12)	(11)	(203)	(166)	(139)	(47)	13	(66)	55	(49)	75	9	(136)	(111)	(113)	5	17	34	41	26	(27)	(60)	(57)	(56)	(23)	(22)	(130)	(214)	(221)	(265)	(147)	(67)	(168)	(110)	(65)	(190)	(140)	(318)	(549)	(404)	(159)	124	359	218	(1 297)	(1 395)	(1 437)	(1 310)	35	37	(43)	(21)	5	(28)	37	(113)	(110)	(37)	21	187	164	139	110	120	136	39	11	(8)	(81)	(48)	(68)	(88)	22	37	63	14	(41)	(33)	(82)	(87)	(108)	(123)	(78)	(74)	(89)	(59)	(94)	(150)	(178)	(215)	(224)
Cash from Investing Activities	(7) N/A	(12) -67%	(15) -24%	(20) -34%	(24) -21%	(26) -10%	(23) +11%	(218) -849%	(181) +17%	(155) +14%	(68) +57%	(7) +89%	(92) -1 136%	24 N/A	(88) N/A	32 N/A	(39) N/A	(187) -381%	(155) +17%	(155) +0%	(30) +81%	(10) +65%	12 N/A	26 +121%	15 -43%	(34) N/A	(65) -91%	(65) +1%	(63) +3%	(29) +53%	(29) +2%	(132) -364%	(214) -62%	(223) -4%	(266) -20%	(151) +43%	(76) +50%	(177) -133%	(121) +32%	(80) +33%	(199) -147%	(151) +24%	(330) -119%	(561) -70%	(418) +25%	(185) +56%	98 N/A	333 +241%	194 -42%	(1 309) N/A	(1 407) -8%	(1 452) -3%	(1 325) +9%	19 N/A	25 +27%	(53) N/A	(29) +46%	(6) +78%	(54) -752%	8 N/A	(146) N/A	(143) +3%	(65) +55%	(8) +88%	163 N/A	141 -13%	111 -21%	81 -27%	74 -9%	70 -6%	(29) N/A	(76) -159%	(103) -35%	(174) -70%	(149) +14%	(178) -19%	(186) -4%	(67) +64%	(43) +35%	(4) +90%	(57) -1 252%	(118) -107%	(110) +6%	(153) -39%	(160) -5%	(180) -13%	(192) -6%	(151) +22%	(141) +7%	(152) -8%	(133) +13%	(168) -26%	(228) -36%	(255) -12%	(292) -15%	(310) -6%
Financing Cash Flow
Net Issuance of Common Stock	(58)	(51)	(50)	(18)	(29)	(47)	(20)	71	73	97	82	(6)	13	(11)	12	(74)	(105)	(123)	(181)	(95)	(76)	(39)	19	19	26	26	14	16	10	9	9	21	20	21	23	7	8	8	24	(24)	(18)	(11)	(23)	33	30	25	4	0	233	236	252	158	(69)	(58)	(60)	(17)	(174)	(270)	(368)	(386)	(230)	(135)	(96)	(225)	(428)	(532)	(609)	(490)	(324)	(231)	(235)	(216)	(661)	(821)	(677)	(609)	(317)	(161)	(262)	(368)	(317)	(472)	(477)	(543)	(424)	(352)	(398)	(562)	(552)	(649)	(746)	(627)	(651)	(652)	(608)	(651)
Net Issuance of Debt	175	49	49	51	93	227	253	324	118	270	229	121	98	(61)	(96)	(73)	(78)	246	262	297	267	18	13	(125)	(58)	(132)	(117)	(71)	(100)	253	(69)	(20)	(63)	(449)	(166)	(483)	(464)	(423)	(415)	(90)	(65)	237	289	566	490	495	586	206	888	893	687	794	169	(132)	(118)	345	(28)	91	541	(54)	220	139	(97)	(610)	(152)	(144)	(349)	341	(136)	(164)	(53)	27	296	548	49	(86)	(440)	(971)	(512)	(561)	(767)	(517)	(518)	(461)	(121)	(517)	(584)	(560)	(581)	(119)	(67)	(100)	(61)	(89)	44	(14)
Cash Paid for Dividends	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(13)	(26)	(39)	(51)	(55)	(58)	(62)	(66)	(65)	(64)	(64)	(62)	(60)	(58)	(57)	(56)	(63)	(70)	(77)	(83)	(86)	(87)	(89)	(91)	(91)	(91)	(91)	(91)	(92)	(92)	(93)	(95)	(95)	(96)	(97)
Other	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	4	11	10	20	20	17	16	21	18	20	24	10	26	22	21	21	23	23	22	23	5	0	5	4	3	0	0	0	6	0	6	6	25	21	19	17	0	6	10	11	(2)	(4)	(6)	(8)	(5)	0	(8)	(6)	(4)	(8)	(6)	(4)	(4)	(2)	(2)	(2)	(6)	(4)	(5)	(6)	(2)	(11)	2	5	(6)	1	(36)	(37)	(27)	1	25	42	43	9	17	(1)	4	(9)	(35)	(68)	(72)
Cash from Financing Activities	117 N/A	(3) N/A	(1) +56%	33 N/A	63 +91%	179 +184%	233 +30%	395 +70%	191 -52%	367 +92%	311 -15%	115 -63%	110 -4%	(72) N/A	(84) -16%	(143) -71%	(172) -20%	133 N/A	102 -23%	222 +119%	209 -6%	(5) N/A	53 N/A	(88) N/A	(12) +87%	(81) -602%	(94) -17%	(29) +69%	(68) -136%	282 N/A	(39) N/A	23 N/A	(21) N/A	(406) -1 863%	(121) +70%	(471) -291%	(454) +4%	(410) +10%	(387) +6%	(111) +71%	(80) +28%	226 N/A	267 +18%	605 +127%	526 -13%	525 0%	596 +14%	230 -61%	1 142 +395%	1 147 +0%	956 -17%	952 0%	105 -89%	(180) N/A	(168) +7%	325 N/A	(206) N/A	(185) +10%	165 N/A	(444) N/A	(15) +97%	(17) -11%	(225) -1 265%	(878) -290%	(639) +27%	(737) -15%	(1 020) -38%	(214) +79%	(528) -146%	(462) +12%	(354) +23%	(259) +27%	(432) -67%	(338) +22%	(692) -105%	(753) -9%	(823) -9%	(1 193) -45%	(840) +30%	(1 011) -20%	(1 166) -15%	(1 112) +5%	(1 119) -1%	(1 120) 0%	(635) +43%	(935) -47%	(1 030) -10%	(1 170) -14%	(1 216) -4%	(843) +31%	(905) -7%	(816) +10%	(816) +0%	(871) -7%	(728) +16%	(834) -15%
Change in Cash
Effect of Foreign Exchange Rates	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Change in Cash	44 N/A	(2) N/A	(75) -4 306%	(81) -7%	(67) +17%	96 N/A	105 +10%	132 +26%	(92) N/A	(29) +69%	36 N/A	231 +541%	226 -2%	384 +70%	314 -18%	223 -29%	23 -90%	(169) N/A	(183) -9%	(57) +69%	86 N/A	155 +81%	449 +190%	268 -40%	507 +89%	683 +35%	731 +7%	733 +0%	577 -21%	727 +26%	155 -79%	174 +12%	34 -80%	(601) N/A	(223) +63%	(769) -245%	(681) +11%	(412) +40%	(545) -32%	(133) +76%	(311) -134%	(241) +23%	(289) -20%	(127) +56%	(207) -62%	(6) +97%	298 N/A	(6) N/A	822 N/A	(351) N/A	(525) -49%	(187) +64%	(690) -269%	180 N/A	20 -89%	333 +1 555%	(165) N/A	(109) +34%	(43) +61%	(285) -565%	37 N/A	268 +623%	594 +122%	(24) N/A	32 N/A	(321) N/A	(529) -65%	455 N/A	280 -39%	436 +56%	302 -31%	103 -66%	(278) N/A	(179) +35%	(284) -59%	77 N/A	421 +447%	(33) N/A	432 N/A	288 -33%	(256) N/A	(159) +38%	(622) -292%	(286) +54%	115 N/A	222 +94%	686 +209%	(54) N/A	(39) +28%	278 N/A	(119) N/A	26 N/A	(147) N/A	(326) -122%	(25) +92%	(31) -26%
Free Cash Flow
Free Cash Flow	(81) N/A	(3) +96%	(73) -2 317%	(108) -49%	(122) -13%	(71) +42%	(117) -64%	(60) +49%	(117) -94%	(257) -120%	(227) +11%	103 N/A	181 +76%	401 +121%	447 +11%	292 -35%	186 -36%	(165) N/A	(174) -6%	(166) +5%	(127) +23%	143 N/A	363 +154%	316 -13%	493 +56%	791 +60%	885 +12%	819 -8%	701 -14%	468 -33%	216 -54%	281 +30%	269 -4%	27 -90%	162 +507%	(151) N/A	(160) -6%	166 N/A	(48) N/A	43 N/A	(41) N/A	(327) -703%	(238) +27%	(183) +23%	(329) -79%	(372) -13%	(423) -14%	(596) -41%	(538) +10%	(202) +62%	(86) +58%	298 N/A	516 +73%	326 -37%	151 -54%	51 -66%	62 +22%	71 +15%	(179) N/A	123 N/A	165 +35%	394 +139%	857 +117%	833 -3%	483 -42%	251 -48%	352 +40%	560 +59%	687 +23%	762 +11%	617 -19%	351 -43%	162 -54%	239 +48%	456 +91%	899 +97%	1 333 +48%	1 138 -15%	1 235 +8%	1 236 +0%	896 -28%	994 +11%	530 -47%	915 +73%	837 -9%	1 265 +51%	1 839 +45%	1 193 -35%	1 250 +5%	1 210 -3%	845 -30%	937 +11%	819 -13%	723 -12%	918 +27%	1 026 +12%

Income Statement Balance Sheet Cash Flow Statement

Toll Brothers Inc
NYSE:TOL

Cash Flow Statement

Cash Flow Statement
Toll Brothers Inc

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Toll Brothers Inc NYSE:TOL

Cash Flow Statement

Cash Flow Statement Toll Brothers Inc

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Toll Brothers Inc
NYSE:TOL

Cash Flow Statement
Toll Brothers Inc