Toll Brothers, Inc. is a leading luxury homebuilder in the United States, engaged in the design, construction, marketing, and financing of residential properties. The company's primary business model revolves around acquiring and developing land, and subsequently building and selling high-end single-family detached homes, attached homes, and master-planned communities. Toll Brothers caters to a diverse demographic of affluent buyers, including luxury first-time, move-up, empty-nester, active-adult, and second-home purchasers.
The company generates the vast majority of its revenue from home sales, which accounted for approximately $10.8 billion in fiscal year 2025. Toll Brothers also derives income from land sales and operates ancillary businesses, including its own architectural, engineering, mortgage, title, land development, smart home technology, landscape, and building components manufacturing operations. Furthermore, the company builds luxury for-sale and for-rent properties in urban centers under its Toll Brothers Apartment Living and Toll Brothers Campus Living brands.
Geographically, Toll Brothers operates in over 60 markets across 24 states and Washington, D.C., with a significant presence in the East Coast, Sunbelt, and Pacific regions. The company's competitive position is anchored by its strong brand recognition in the luxury segment, its ability to offer extensive customization through its design studios, and its strategic shift toward offering more spec homes (homes built before a buyer is secured) to capture demand from buyers requiring quick move-ins. By controlling various stages of the supply chain, including lumber distribution and house component assembly, Toll Brothers maintains strict quality control and operational efficiency across its national footprint.
