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Side-by-side financial comparison of BJ's Wholesale Club Holdings, Inc. (BJ) and Toll Brothers, Inc. (TOL). Click either name above to swap in a different company.
BJ's Wholesale Club Holdings, Inc. is the larger business by last-quarter revenue ($5.3B vs $3.4B, roughly 1.6× Toll Brothers, Inc.). Toll Brothers, Inc. runs the higher net margin — 13.0% vs 2.8%, a 10.2% gap on every dollar of revenue. On growth, BJ's Wholesale Club Holdings, Inc. posted the faster year-over-year revenue change (4.9% vs 2.7%). Toll Brothers, Inc. produced more free cash flow last quarter ($772.2M vs $-13.7M). Over the past eight quarters, Toll Brothers, Inc.'s revenue compounded faster (32.6% CAGR vs -0.1%).
BJ's Wholesale Club Holdings, Inc., commonly referred as BJ's, is an American regional membership-only warehouse club chain based in Marlborough, Massachusetts, operating in the eastern United States in addition to Ohio, Michigan, Louisville, Kentucky, Indiana, Tennessee, Florida and Alabama. Its major competitors are Costco Wholesale and Sam's Club.
Toll Brothers, Inc. is an American homebuilding company that builds, markets, and finances for residential and commercial properties in the United States. In 2020, the company was the fifth largest home builder in the United States, based on homebuilding revenue. The company is ranked 411th on the Fortune 500.
BJ vs TOL — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.3B | $3.4B |
| Net Profit | $152.1M | $446.7M |
| Gross Margin | 19.0% | 24.8% |
| Operating Margin | 4.1% | 16.5% |
| Net Margin | 2.8% | 13.0% |
| Revenue YoY | 4.9% | 2.7% |
| Net Profit YoY | -2.4% | -6.0% |
| EPS (diluted) | $1.15 | $4.51 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $5.3B | $3.4B | ||
| Q3 25 | $5.4B | $2.9B | ||
| Q2 25 | $5.2B | $2.7B | ||
| Q1 25 | $5.3B | $1.9B | ||
| Q4 24 | $5.1B | $3.3B | ||
| Q3 24 | $5.2B | $2.7B | ||
| Q2 24 | $4.9B | $2.8B | ||
| Q1 24 | $5.4B | $1.9B |
| Q4 25 | $152.1M | $446.7M | ||
| Q3 25 | $150.7M | $369.6M | ||
| Q2 25 | $149.8M | $352.4M | ||
| Q1 25 | $122.7M | $177.7M | ||
| Q4 24 | $155.7M | $475.4M | ||
| Q3 24 | $145.0M | $374.6M | ||
| Q2 24 | $111.0M | $481.6M | ||
| Q1 24 | $145.9M | $239.6M |
| Q4 25 | 19.0% | 24.8% | ||
| Q3 25 | 18.7% | 25.2% | ||
| Q2 25 | 18.8% | 25.8% | ||
| Q1 25 | 18.0% | 24.7% | ||
| Q4 24 | 19.1% | 26.4% | ||
| Q3 24 | 18.4% | 27.2% | ||
| Q2 24 | 18.0% | 30.4% | ||
| Q1 24 | 18.0% | 27.6% |
| Q4 25 | 4.1% | 16.5% | ||
| Q3 25 | 4.0% | 16.6% | ||
| Q2 25 | 4.0% | 16.4% | ||
| Q1 25 | 3.4% | 11.8% | ||
| Q4 24 | 4.5% | 18.3% | ||
| Q3 24 | 3.9% | 18.2% | ||
| Q2 24 | 3.3% | 22.0% | ||
| Q1 24 | 4.0% | 15.8% |
| Q4 25 | 2.8% | 13.0% | ||
| Q3 25 | 2.8% | 12.6% | ||
| Q2 25 | 2.9% | 12.9% | ||
| Q1 25 | 2.3% | 9.6% | ||
| Q4 24 | 3.1% | 14.3% | ||
| Q3 24 | 2.8% | 13.7% | ||
| Q2 24 | 2.3% | 17.0% | ||
| Q1 24 | 2.7% | 12.3% |
| Q4 25 | $1.15 | $4.51 | ||
| Q3 25 | $1.14 | $3.73 | ||
| Q2 25 | $1.13 | $3.50 | ||
| Q1 25 | $0.92 | $1.75 | ||
| Q4 24 | $1.17 | $4.61 | ||
| Q3 24 | $1.08 | $3.60 | ||
| Q2 24 | $0.83 | $4.55 | ||
| Q1 24 | $1.09 | $2.25 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $45.1M | $1.3B |
| Total DebtLower is stronger | $399.0M | — |
| Stockholders' EquityBook value | $2.2B | $8.3B |
| Total Assets | $7.5B | $14.5B |
| Debt / EquityLower = less leverage | 0.18× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $45.1M | $1.3B | ||
| Q3 25 | $47.3M | $852.3M | ||
| Q2 25 | $39.5M | $686.5M | ||
| Q1 25 | $28.3M | $574.8M | ||
| Q4 24 | $33.9M | $1.3B | ||
| Q3 24 | $38.1M | $893.4M | ||
| Q2 24 | $35.1M | $1.0B | ||
| Q1 24 | $36.0M | $754.8M |
| Q4 25 | $399.0M | — | ||
| Q3 25 | $399.0M | — | ||
| Q2 25 | $398.9M | — | ||
| Q1 25 | $398.8M | — | ||
| Q4 24 | $398.7M | — | ||
| Q3 24 | $398.6M | — | ||
| Q2 24 | $398.5M | — | ||
| Q1 24 | $398.4M | — |
| Q4 25 | $2.2B | $8.3B | ||
| Q3 25 | $2.1B | $8.1B | ||
| Q2 25 | $2.0B | $7.9B | ||
| Q1 25 | $1.8B | $7.8B | ||
| Q4 24 | $1.8B | $7.7B | ||
| Q3 24 | $1.7B | $7.4B | ||
| Q2 24 | $1.5B | $7.3B | ||
| Q1 24 | $1.5B | $7.0B |
| Q4 25 | $7.5B | $14.5B | ||
| Q3 25 | $7.2B | $14.4B | ||
| Q2 25 | $7.2B | $14.2B | ||
| Q1 25 | $7.1B | $13.6B | ||
| Q4 24 | $7.2B | $13.4B | ||
| Q3 24 | $6.9B | $13.4B | ||
| Q2 24 | $6.8B | $13.3B | ||
| Q1 24 | $6.7B | $12.5B |
| Q4 25 | 0.18× | — | ||
| Q3 25 | 0.19× | — | ||
| Q2 25 | 0.20× | — | ||
| Q1 25 | 0.22× | — | ||
| Q4 24 | 0.23× | — | ||
| Q3 24 | 0.24× | — | ||
| Q2 24 | 0.26× | — | ||
| Q1 24 | 0.27× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $181.1M | $800.0M |
| Free Cash FlowOCF − Capex | $-13.7M | $772.2M |
| FCF MarginFCF / Revenue | -0.3% | 22.6% |
| Capex IntensityCapex / Revenue | 3.6% | 0.8% |
| Cash ConversionOCF / Net Profit | 1.19× | 1.79× |
| TTM Free Cash FlowTrailing 4 quarters | $249.6M | $1.0B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $181.1M | $800.0M | ||
| Q3 25 | $249.9M | $370.3M | ||
| Q2 25 | $208.1M | $362.8M | ||
| Q1 25 | $271.9M | $-420.8M | ||
| Q4 24 | $206.8M | $682.5M | ||
| Q3 24 | $221.4M | $175.6M | ||
| Q2 24 | $200.8M | $459.0M | ||
| Q1 24 | $274.4M | $-307.0M |
| Q4 25 | $-13.7M | $772.2M | ||
| Q3 25 | $84.3M | $344.9M | ||
| Q2 25 | $67.6M | $347.3M | ||
| Q1 25 | $111.5M | $-438.1M | ||
| Q4 24 | $18.8M | $664.3M | ||
| Q3 24 | $87.5M | $149.9M | ||
| Q2 24 | $95.1M | $442.9M | ||
| Q1 24 | $155.2M | $-320.6M |
| Q4 25 | -0.3% | 22.6% | ||
| Q3 25 | 1.6% | 11.7% | ||
| Q2 25 | 1.3% | 12.7% | ||
| Q1 25 | 2.1% | -23.6% | ||
| Q4 24 | 0.4% | 19.9% | ||
| Q3 24 | 1.7% | 5.5% | ||
| Q2 24 | 1.9% | 15.6% | ||
| Q1 24 | 2.9% | -16.5% |
| Q4 25 | 3.6% | 0.8% | ||
| Q3 25 | 3.1% | 0.9% | ||
| Q2 25 | 2.7% | 0.6% | ||
| Q1 25 | 3.0% | 0.9% | ||
| Q4 24 | 3.7% | 0.5% | ||
| Q3 24 | 2.6% | 0.9% | ||
| Q2 24 | 2.1% | 0.6% | ||
| Q1 24 | 2.2% | 0.7% |
| Q4 25 | 1.19× | 1.79× | ||
| Q3 25 | 1.66× | 1.00× | ||
| Q2 25 | 1.39× | 1.03× | ||
| Q1 25 | 2.22× | -2.37× | ||
| Q4 24 | 1.33× | 1.44× | ||
| Q3 24 | 1.53× | 0.47× | ||
| Q2 24 | 1.81× | 0.95× | ||
| Q1 24 | 1.88× | -1.28× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BJ
| Products | $5.4B | 102% |
| Membership | $129.8M | 2% |
TOL
| Home Building | $3.4B | 100% |
| Land | $9.4M | 0% |
