Toll Brothers, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $1.35B | $1.57B | $1.37B | $1.29B | $833.6M | $446.6M | $590.0M | $748.2M |
| Depreciation & Amortization | $82.1M | $81.2M | $76.5M | $76.8M | $76.3M | $68.9M | $72.1M | $25.3M |
| Depreciation | $82.1M | $80.9M | $75.5M | $75.9M | $74.8M | $67.6M | $67.6M | $21.0M |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $30.8M | $29.6M | $24.8M | $21.1M | $23.2M | $24.3M | $26.2M | $28.3M |
| Net Cash from Operating Activities | $1.11B | $1.01B | $1.27B | $986.8M | $1.30B | $1.01B | $437.7M | $588.2M |
| Investing Activities | ||||||||
| Capital Expenditures | $86.2M | $73.6M | $73.0M | $71.7M | $66.9M | $109.6M | $87.0M | $28.2M |
| Business Acquisitions | — | — | — | $0 | $0 | $60.3M | $162.4M | $0 |
| Net Cash from Investing Activities | $-310.0M | $-167.6M | $-150.6M | $-153.2M | $-4.2M | $-177.8M | $-75.9M | — |
| Financing Activities | ||||||||
| Dividends Paid | $97.1M | $93.4M | $91.1M | $88.9M | $76.6M | $56.6M | $63.6M | $61.7M |
| Stock Repurchases | $651.0M | $627.1M | $561.6M | $542.7M | $378.3M | $634.1M | $233.5M | $503.2M |
| Net Cash from Financing Activities | $-833.9M | $-816.5M | $-1.17B | $-1.12B | $-1.01B | $-753.3M | $-258.5M | — |
| Net Change in Cash | $-31.5M | $26.1M | $-54.2M | $-285.9M | $287.8M | $77.0M | $103.2M | $455.2M |
| Free Cash Flow | $1.03B | $936.5M | $1.19B | $915.1M | $1.24B | $898.6M | $350.7M | $560.0M |