Toll Brothers，我打赌他们的利润率更高，我们去看看。
Toll Brothers I bet you their margins are higher let's go find out
Toll Brothers经营的是豪华细分市场，接近100万。
Toll Brothers operates in the luxury segment closer to a million.
Toll Brothers 10-Q，824，有点意思。所以这里的利润率更高，但没有高那么多。实际上令人惊讶的是，根本没有高多少。那是税后的。我们这两个都是税后的吗？让我看看营业利润。
我在这里看的是什么？资产负债表、净利润、税前利润。嗯，为了隔离这一点，让我们做1226除以9227，13.2的营业利润率。那可能就是他们的水平。346.6除以2531，13.69，几乎没有什么不同。
13.2和13.69。哇，那很有趣。是的，利润率几乎相同。而且你知道，这些并不是最好的利润率。你知道，它无法与软件相比。
Toll Brothers 10 Q 824 kind of interesting. So here the margins are they're higher but they're not that much higher. Actually surprisingly not that much higher at all. That's after taxes.
Are we doing after tax on both of these? Let me look at income from operations. What did I look at over here? Balance sheet, net income, income before taxes. Well, to isolate that, let's do 1226 divided by 9227 13.2 operating.
That's probably where they are. 346.6 divided by 2531 13.69 barely any different. 13.2 13.69. Wow, that's interesting. Yeah, the margins almost the same. And there aren't the greatest margins, you know.
It doesn't hold a candle like software, you know.