D.R. Horton, Inc. vs Toll Brothers, Inc., two Homebuilders stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Volume against luxury frames this pair: D.R. Horton builds across price points, Toll Brothers builds high-end homes for wealthier buyers, and their economics reflect the segments. Toll earns the higher margin, 11.66% against Horton's 9.51%, and a higher return on equity, 15.18% against 13.11%, luxury pricing power against volume efficiency. Both run debt-free and trade near book, Horton at 1.99 and Toll at 1.85, and both convert strong free cash near 7.5%. Toll is cheaper on earnings, 12.4 times against 15.6. The two split the housing market by buyer: Horton the volume champion serving entry and move-up demand, Toll the luxury specialist earning fatter margins on high-end homes, and Toll's combination of better margins and a lower multiple is quietly attractive.
Comparison updated 2026-07-11.
| Metric | DHI | TOL |
|---|---|---|
| Price | $151.55 | $149.36 |
| Market cap | $43.8B | $14.3B |
| Sector | Homebuilders | Homebuilders |
| Stage | Mature | Mature |
| Implied growth (priced in) | +0.5% | +0.6% |
| P/E | 14.2 | 11.3 |
| P/B | 1.81 | 1.69 |
| P/S | 1.31 | 1.29 |
| EV/EBITDA | 1511.9 | 8.1 |
| Revenue growth | -5.6% | +4.6% |
| Operating margin | — | 13.7% |
| Net margin | 9.5% | 11.7% |
| Return on equity | 13.1% | 15.2% |
| Return on assets | 8.9% | 8.9% |
| Return on invested capital | — | 15.1% |
| FCF yield | 8.0% | 8.5% |
| Dividend yield | 1.1% | 0.7% |
| Debt / equity | 0.00 | 0.00 |
| Altman Z (solvency) | 4.51 | 3.12 |
| Piotroski F (quality) | 7 / 9 | 8 / 9 |
Each week boothcheck ranks the stocks whose prices are betting on the most. Read the most stretched bets archive →
boothcheck is also on Android. Get the app on Google Play →
The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.