TOL — what changed in the latest 10-Q
A section-by-section comparison of TOL's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-29 vs the prior 10-Q · 2026-02-27
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +60 | −37 | ~23 | 28 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~3 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 2 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | No paragraph-level changes | 0 | 0 | 0 | 2 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-29
In the three months ended April 30, 2026, we signed 2,834 net contracts for an aggregate value of $2.81 billion, a 6.9% increase in units and 7.8% increase in dollars compared to the prior year period, which was attributable in part to a 9% year-over-year increase in community count. On a per-commun…
In the three-month period ended April 30, 2026, we recognized $2.53 billion of revenues, consisting of $2.51 billion of home sales revenues and $18.8 million of land sales and other revenues, and net income of $260.6 million, as compared to $2.74 billion of revenues, consisting of $2.71 billion of h…
In the six-month period ended April 30, 2026, we recognized $4.68 billion of revenues, consisting of $4.37 billion of home sales revenues and $309.4 million of land sales and other revenues, and net income of $471.5 million, as compared to $4.60 billion of revenues, consisting of $4.55 billion of ho…
In the six-month periods ended April 30, 2026 and 2025, the value of net contracts signed was $5.19 billion (5,137 homes) and $4.91 billion (4,957 homes), respectively.
At April 30, 2026, we had $1.11 billion of cash and cash equivalents and we had approximately $2.24 billion of borrowing capacity of the $2.38 billion available under our revolving credit facility (the “Revolving Credit Facility”) on such date. At April 30, 2026, we had no borrowings and we had appr…
Text removed vs the prior filing · source: 10-Q · 2026-02-27
In the three months ended January 31, 2026, we signed 2,303 net contracts for an aggregate value of $2.38 billion, relatively flat in units but an increase of 3.1% in dollars compared to the prior year period, as our average sales price in the quarter increased by 3.3%. On a per-community basis, con…
In the three-month period ended January 31, 2026, we recognized $2.15 billion of revenues, consisting of $1.85 billion of home sales revenue and $290.6 million of land sales and other revenue, and net income of $210.9 million, as compared to $1.86 billion of revenues, consisting of $1.84 billion of …
At January 31, 2026, we had $1.20 billion of cash and cash equivalents and we had approximately $2.20 billion of borrowing capacity of the $2.35 billion available under our revolving credit facility (the “Revolving Credit Facility”) on such date. At January 31, 2026, we had no borrowings and we had …
At January 31, 2026, we owned or controlled through options approximately 75,000 home sites, as compared to approximately 76,100 at October 31, 2025; and approximately 74,700 at October 31, 2024. Of the approximately 75,000 home sites that we owned or controlled through options at January 31, 2026, …
At January 31, 2026, our total stockholders’ equity and our debt to total capitalization ratio were $8.41 billion and 0.24 to 1.00, respectively.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice