Toll Brothers has increased its earnings per share over the past three years despite falling net income, driven by aggressive share buybacks. The luxury homebuilder has retired about 5.1% of its shares annually on average, while net income fell 2.8% per year, resulting in EPS growth of 2.3% annually. The company's average home sells for about $1.35 million, and upgrades and options averaged $207,000 per home in fiscal Q3 2026. Management prioritizes growth, spending roughly $452 million on land acquisition in that quarter, while raising its fiscal 2026 repurchase plan to $700 million from $650 million. With net debt at about 1.1 times EBITDA and a shareholder yield of 5.3%, the stock trades at 10.9 times trailing earnings, but management has not yet called a bottom in the housing market.
Toll Brothers IncBuybacks boost EPS despite profit decline; raised repurchase plan.
DR Horton Inc
Lennar Corporation
Meritage Corporation
PulteGroup Inc