托尔兄弟 2023年度报告

☐ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934For the fiscal year ended October 31, 2024 ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934For the transition period fromto Commission file number 001-09186TOLL BROTHERS, INC. (Exact name of Registrant as specified in its charter) Registrant’s telephone number, including area code(215) 938-8000Securities registered pursuant to Section 12(b) of the Act: Securities registered pursuant to Section 12(g) of the Act:None Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the SecuritiesAct. Yesþ No o Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or Section 15(d) of theSecurities Act. Yes o Noþ Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) ofthe Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrantwas required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YesþNoo Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, ifany, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was requiredto submit and post such files). Yes☐No o Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,”“accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Accelerated filer☐Smaller reportingcompany☐Emerging growthcompany☐ Large accelerated filer☐ Non-accelerated filer☐(Do not check if a smaller reportingcompany) If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransition period for complying with any new or revised financial accounting standards provided pursuant to Section13(a) of the Exchange Act. o Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessmentof the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financialstatements of the registrant included in the filing reflect the correction of an error to previously issued financialstatements. o Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis ofincentive-based compensation received by any of the registrant's executive officers during the relevant recoveryperiod pursuant to §240.10D-1(b).☐ Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☐ As of April 30, 2024, the aggregate market value of our Common Stock held by non-affiliates (all persons other thanexecutive officers and directors of Registrant) of the Registrant was approximately $12,183,487,000. As of December 18, 2024, there were approximately 100,037,000 shares of our Common Stock outstanding. Documents Incorporated by Reference:Portions of the proxy statement of Toll Brothers, Inc. with respect to the2025 Annual Meeting of Stockholders, scheduled to be held on March 11, 2025, are incorporated by reference intoPart III of this report. TABLE OF CONTENTS PART I ITEM 1. BUSINESS1ITEM 1A. RISK FACTORS11ITEM 1B. UNRESOLVED STAFF COMMENTS20ITEM 1C. CYBERSECURITY20ITEM 2. PROPERTIES21ITEM 3. LEGAL PROCEEDINGS21ITEM 4. MINE SAFETY DISCLOSURES21PART IIITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATEDSTOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES22ITEM 6. [RESERVED]23ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONAND RESULTS OF OPERATIONS24ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK43ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA43ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ONACCOUNTING AND FINANCIAL DISCLOSURE43ITEM 9A. CONTROLS AND PROCEDURES44ITEM 9B. OTHER INFORMATION44ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENTINSPECTIONS44 PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE45ITEM 11. EXECUTIVE COMPENSATION46ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS ANDMANAGEMENT AND RELATED STOCKHOLDER MATTERS46ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS; DIRECTORINDEPENDENCE46ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES46PART IVITE