{
 "company": "Toll Brothers, Inc.",
 "ticker": "TOL",
 "sector": "Residential Construction",
 "asOf": {
  "date": "2026-07",
  "label": "July 2026"
 },
 "fiscalYearEnd": null,
 "revenueUsdM": 7143.3,
 "normalizedSga": {
  "pctRevenue": 13.39,
  "peerCount": 12,
  "peerMedianPctRevenue": 10.8,
  "peerLeanQuartilePctRevenue": 8.6,
  "peers": [
   {
    "ticker": "CCS",
    "name": "Century Communities, Inc.",
    "normalizedSgaPctRevenue": 11.48
   },
   {
    "ticker": "SDHC",
    "name": "Smith Douglas Homes Corp.",
    "normalizedSgaPctRevenue": 13.44
   },
   {
    "ticker": "DHI",
    "name": "D.R. Horton, Inc.",
    "normalizedSgaPctRevenue": 10.46
   },
   {
    "ticker": "LEN",
    "name": "Lennar Corporation",
    "normalizedSgaPctRevenue": 7.22
   },
   {
    "ticker": "TMHC",
    "name": "Taylor Morrison Home Corporation",
    "normalizedSgaPctRevenue": 8.6
   },
   {
    "ticker": "MHO",
    "name": "M/I Homes, Inc.",
    "normalizedSgaPctRevenue": 11.56
   },
   {
    "ticker": "KBH",
    "name": "KB Home",
    "normalizedSgaPctRevenue": 7.12
   },
   {
    "ticker": "GRBK",
    "name": "Green Brick Partners, Inc.",
    "normalizedSgaPctRevenue": 10.85
   },
   {
    "ticker": "DFH",
    "name": "Dream Finders Homes, Inc.",
    "normalizedSgaPctRevenue": 11.22
   },
   {
    "ticker": "LGIH",
    "name": "LGI Homes, Inc.",
    "normalizedSgaPctRevenue": 13.7
   },
   {
    "ticker": "BZH",
    "name": "Beazer Homes USA, Inc.",
    "normalizedSgaPctRevenue": 8.64
   }
  ],
  "definition": "Reported SG&A less the disclosed lines that distort comparison: advertising, R&D, pension, stock-based compensation, restructuring and one-time items, plus logistics reclassed where filers park it in SG&A."
 },
 "disclosedLines": [
  {
   "key": "advertising",
   "label": "Advertising",
   "pctRevenue": 1.08,
   "companiesDisclosing": 8,
   "peersDisclosing": [
    {
     "ticker": "CCS",
     "pctRevenue": 0.78
    },
    {
     "ticker": "SDHC",
     "pctRevenue": 0.96
    },
    {
     "ticker": "DHI",
     "pctRevenue": 0.32
    },
    {
     "ticker": "LEN",
     "pctRevenue": 0.62
    },
    {
     "ticker": "GRBK",
     "pctRevenue": 0.18
    },
    {
     "ticker": "LGIH",
     "pctRevenue": 2.36
    },
    {
     "ticker": "BZH",
     "pctRevenue": 2.73
    }
   ],
   "note": "Behind only BZH and LGIH. A brand-investment choice; advertising sits outside the normalized SG&A line, so it does not explain the Exhibit 2 gap."
  },
  {
   "key": "stock_comp",
   "label": "Stock-based comp",
   "pctRevenue": 0.43,
   "companiesDisclosing": 10,
   "peersDisclosing": [
    {
     "ticker": "CCS",
     "pctRevenue": 0.49
    },
    {
     "ticker": "SDHC",
     "pctRevenue": 0.38
    },
    {
     "ticker": "DHI",
     "pctRevenue": 0.38
    },
    {
     "ticker": "LEN",
     "pctRevenue": 0.48
    },
    {
     "ticker": "MHO",
     "pctRevenue": 0.38
    },
    {
     "ticker": "GRBK",
     "pctRevenue": 0.59
    },
    {
     "ticker": "DFH",
     "pctRevenue": 0.58
    },
    {
     "ticker": "LGIH",
     "pctRevenue": 0.35
    },
    {
     "ticker": "BZH",
     "pctRevenue": 0.31
    }
   ],
   "note": "Right at the peer median. Not distorting the overhead picture."
  },
  {
   "key": "restructuring",
   "label": "Restructuring",
   "pctRevenue": 0.0,
   "companiesDisclosing": 12,
   "peersDisclosing": [
    {
     "ticker": "CCS",
     "pctRevenue": 0.0
    },
    {
     "ticker": "SDHC",
     "pctRevenue": 0.0
    },
    {
     "ticker": "DHI",
     "pctRevenue": 0.0
    },
    {
     "ticker": "LEN",
     "pctRevenue": 0.0
    },
    {
     "ticker": "TMHC",
     "pctRevenue": 0.0
    },
    {
     "ticker": "MHO",
     "pctRevenue": 0.0
    },
    {
     "ticker": "KBH",
     "pctRevenue": 0.0
    },
    {
     "ticker": "GRBK",
     "pctRevenue": 0.0
    },
    {
     "ticker": "DFH",
     "pctRevenue": 0.0
    },
    {
     "ticker": "LGIH",
     "pctRevenue": 0.0
    },
    {
     "ticker": "BZH",
     "pctRevenue": 0.0
    }
   ],
   "note": "No filed restructuring charges for the latest fiscal year; runs in line with the typical peer, counted wherever they sit on the P&L; one-time charges are stripped from the Exhibit 2 number either way."
  }
 ],
 "gapToPeers": {
  "toPeerMedian": {
   "usdM": 168,
   "bps": 236
  },
  "toLeanQuartile": {
   "usdM": 340,
   "bps": 476
  }
 },
 "tsrBridge": [
  {
   "label": "1 year",
   "span": "FY2024 to FY2025",
   "companyTsrPct": -7,
   "peerTsrPct": -19,
   "driverPp": {
    "Revenue growth": 8.3,
    "Gross margin": 17.3,
    "SG&A": 8.8,
    "Multiple": -23.3,
    "Other": 0.9
   }
  },
  {
   "label": "3 years",
   "span": "FY2022 to FY2025",
   "companyTsrPct": 222,
   "peerTsrPct": 98,
   "driverPp": {
    "Revenue growth": 7.4,
    "Gross margin": 73,
    "SG&A": 3.4,
    "Multiple": -1.8,
    "Other": 42.7
   }
  },
  {
   "label": "5 years",
   "span": "FY2020 to FY2025",
   "companyTsrPct": 237,
   "peerTsrPct": 86,
   "driverPp": {
    "Revenue growth": 1.5,
    "Gross margin": 127.3,
    "SG&A": 63.5,
    "Multiple": -133.6,
    "Other": 92.6
   }
  }
 ],
 "recentQuarter": null,
 "sources": [
  "10-K and 10-Q filings (US GAAP)",
  "XBRL company facts",
  "earnings releases"
 ],
 "urls": {
  "briefing": "https://sgabenchmarking.com/r/TOL",
  "json": "https://sgabenchmarking.com/r/TOL.json",
  "industryBenchmarks": "https://sgabenchmarking.com/catalog.json"
 },
 "publisher": "SG&A Benchmarking, https://sgabenchmarking.com"
}