NYSE : PHM
PulteGroup, Inc. — Financial statements
Consumer Discretionary · Residential Construction · United States
Last price 124.36 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 22.89B
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Financial statements
PulteGroup, Inc. (PHM) reported revenue of 15.98B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 15.61B | 16.92B | 17.51B | 15.74B | 15.69B | 13.35B |
| Other Revenue | 369.14M | 388.67M | 432.99M | 320.75M | 311.72M | 389.53M |
| Revenue | 15.98B | 17.31B | 17.95B | 16.06B | 16.00B | 13.74B |
| Cost of Revenue | 11.69B | 12.43B | 12.49B | 11.14B | 10.99B | 9.79B |
| Gross Profit | 4.04B | 4.65B | 5.24B | 4.74B | 4.83B | 3.78B |
| Selling, General & Admin | 1.55B | 1.57B | 1.32B | 1.31B | 1.38B | 1.21B |
| Other Operating Expenses | 21.06M | |||||
| Operating Expenses | 1.55B | 1.57B | 1.32B | 1.31B | 1.38B | 1.23B |
| Operating Income | 2.49B | 3.08B | 3.92B | 3.43B | 3.45B | 2.55B |
| Interest Expense | -577.00K | -605.00K | -479.00K | -469.00K | -284.00K | -502.00K |
| Interest & Investment Income | 44.62M | 44.43M | 59.49M | 61.53M | 1.97M | 1.95M |
| Earnings From Equity Investments | 3.02M | 4.15M | 44.20M | 4.56M | 50.68M | 17.20M |
| Other Non Operating Income (Expenses) | -52.87M | -57.14M | -14.53M | -23.86M | -66.08M | |
| EBT Excluding Unusual Items | 2.49B | 3.07B | 4.00B | 3.47B | 3.44B | 2.57B |
| Impairment of Goodwill | -28.55M | -28.55M | ||||
| Gain (Loss) on Sale of Assets | 21.40M | 17.50M | ||||
| Asset Writedown | -126.70M | -128.10M | -16.31M | -19.60M | ||
| Other Unusual Items | -2.64M | -222.00K | 663.00K | -61.47M | ||
| Pretax Income | 2.35B | 2.91B | 4.01B | 3.45B | 3.44B | 2.51B |
| Income Tax Expense | 555.94M | 692.59M | 922.62M | 846.89M | 822.24M | 563.52M |
| Net Income | 1.80B | 2.22B | 3.08B | 2.60B | 2.62B | 1.95B |
| Preferred Dividends & Other Adjustments | 9.50M | 16.18M | 16.34M | |||
| Net Income to Common | 1.80B | 2.22B | 3.08B | 2.59B | 2.60B | 1.93B |
| Shares Outstanding (Basic) | 190.54M | 197.97M | 208.11M | 219.96M | 235.01M | 259.29M |
| Shares Outstanding (Diluted) | 191.88M | 199.54M | 209.83M | 221.16M | 236.17M | 259.93M |
| EPS (Basic) | 9.43 | 11.21 | 14.82 | 11.79 | 11.07 | 7.44 |
| EPS (Diluted) | 9.36 | 11.12 | 14.69 | 11.72 | 11.01 | 7.43 |
| Free Cash Flow | 1.30B | 1.75B | 1.56B | 2.10B | 555.80M | 931.24M |
| Free Cash Flow Per Share | 6.77 | 8.76 | 7.45 | 9.52 | 2.35 | 3.58 |
| Dividend Per Share | 1.04 | 0.92 | 0.82 | 0.68 | 0.60 | 0.56 |
| Gross Margin | 25.32% | 26.87% | 29.18% | 29.51% | 30.21% | 27.53% |
| Operating Margin | 15.61% | 17.77% | 21.82% | 21.33% | 21.58% | 18.58% |
| Profit Margin | 11.24% | 12.82% | 17.18% | 16.14% | 16.25% | 14.05% |
| Free Cash Flow Margin | 8.13% | 10.10% | 8.71% | 13.10% | 3.47% | 6.78% |
| EBITDA | 2.61B | 3.19B | 4.01B | 3.51B | 3.52B | 2.62B |
| EBITDA Margin | 16.32% | 18.43% | 22.32% | 21.84% | 22.02% | 19.09% |
| D&A For EBITDA | 113.58M | 112.51M | 89.16M | 80.82M | 70.92M | 69.95M |
| EBIT | 2.49B | 3.08B | 3.92B | 3.43B | 3.45B | 2.55B |
| EBIT Margin | 15.61% | 17.77% | 21.82% | 21.33% | 21.58% | 18.58% |
| Effective Tax Rate | 23.63% | 23.79% | 23.03% | 24.55% | 23.91% | 22.45% |
| Revenue as Reported | 15.98B | 17.31B | 17.95B | 16.06B | 16.00B | 13.74B |
| Advertising Expenses | 81.60M | 74.60M | 57.50M | 61.60M | 47.20M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.37B | 1.98B | 1.61B | 1.81B | 1.05B | 1.78B |
| Trading Asset Securities | 686.00K | 10.83M | 8.58M | |||
| Cash & Short-Term Investments | 1.37B | 1.98B | 1.61B | 1.81B | 1.06B | 1.79B |
| Accounts Receivable | 252.31M | 248.31M | ||||
| Other Receivables | 13.54M | 11.73M | 236.13M | 261.07M | 289.99M | |
| Receivables | 265.85M | 260.04M | 236.13M | 261.07M | 289.99M | |
| Inventory | 14.09B | 12.93B | 12.69B | 11.82B | 11.37B | 9.08B |
| Finance Div. Loans and Leases | 523.95M | 613.66M | 629.58M | 516.06M | 677.21M | 947.14M |
| Prepaid Expenses | 287.80M | 283.81M | 245.03M | 223.52M | 159.68M | |
| Restricted Cash | 38.12M | 27.91M | 40.35M | 42.59M | 41.45M | 54.48M |
| Other Current Assets | 1.32B | 1.27B | 1.07B | 704.21M | 483.70M | 406.06M |
| Total Current Assets | 17.35B | 17.37B | 16.59B | 15.37B | 14.12B | 12.72B |
| Property, Plant & Equipment | 107.80M | 348.32M | 346.99M | 298.89M | 273.75M | 223.47M |
| Long-Term Investments | 141.74M | 167.34M | 215.42M | 166.91M | 146.76M | 98.16M |
| Goodwill | 40.38M | 40.38M | 68.93M | 68.93M | 68.93M | 68.90M |
| Other Intangible Assets | 21.97M | 26.21M | 46.30M | 56.34M | 66.88M | 78.02M |
| Long-Term Deferred Tax Assets | 45.29M | 49.16M | 55.04M | 64.76M | 82.35M | 139.04M |
| Other Long-Term Assets | 779.73M | 45.27M | 39.40M | 61.41M | 38.69M | 23.18M |
| Total Assets | 18.48B | 18.05B | 17.36B | 16.09B | 14.80B | 13.35B |
| Accounts Payable | 747.16M | 646.27M | 615.36M | 501.80M | 478.40M | 533.71M |
| Accrued Expenses | 1.24B | 497.72M | 579.82M | 849.91M | 916.45M | 930.75M |
| Short-Term Debt | 78.61M | 112.64M | 117.21M | 87.58M | 87.46M | |
| Current Portion of Long-Term Debt | 98.88M | 272.78M | 15.03M | 1.55M | 1.74M | 37.00K |
| Current Portion of Leases | 8.62M | 26.78M | ||||
| Finance Div. Debt Current | 383.25M | 532.34M | 526.91M | 499.63M | 586.71M | 626.12M |
| Current Income Taxes Payable | 60.84M | 76.00M | 62.40M | 98.71M | 72.13M | |
| Other Current Liabilities | 128.00K | 185.69M | 179.92M | 190.41M | 165.90M | 146.25M |
| Total Current Liabilities | 2.48B | 2.30B | 2.11B | 2.22B | 2.34B | 2.40B |
| Long-Term Debt | 1.81B | 1.38B | 1.62B | 1.96B | 2.05B | 2.03B |
| Long-Term Leases | 114.58M | 106.47M | 109.02M | 91.55M | 90.08M | 92.66M |
| Long-Term Unearned Revenue | 515.89M | 387.84M | 512.58M | 675.09M | 783.56M | 844.78M |
| Long-Term Deferred Tax Liabilities | 469.18M | 448.49M | 443.57M | 302.15M | 215.45M | 165.52M |
| Other Long-Term Liabilities | 439.92M | 452.37M | 449.86M | 412.32M | 334.64M | |
| Total Liabilities | 5.39B | 5.06B | 5.24B | 5.70B | 5.88B | 5.86B |
| Common Stock | 1.85M | 1.93M | 2.03M | 2.13M | 2.26M | 2.49M |
| Additional Paid-In Capital | 3.53B | 3.49B | 3.43B | 3.37B | 3.33B | 3.29B |
| Retained Earnings | 9.56B | 9.49B | 8.69B | 7.01B | 5.58B | 4.20B |
| Comprehensive Income & Other | -45.00K | |||||
| Shareholders' Equity | 13.10B | 12.99B | 12.12B | 10.38B | 8.91B | 7.49B |
| Total Liabilities & Equity | 18.48B | 18.05B | 17.36B | 16.09B | 14.80B | 13.35B |
| Total Debt | 2.41B | 2.40B | 2.38B | 2.67B | 2.81B | 2.84B |
| Net Cash (Debt) | -1.04B | -415.34M | -768.85M | -865.58M | -1.75B | -1.05B |
| Net Cash Per Share | -5.44 | -2.08 | -3.66 | -3.91 | -7.40 | -4.03 |
| Filing Date Shares Outstanding | 184.09M | 192.33M | 202.46M | 212.11M | 225.60M | 248.65M |
| Total Common Shares Outstanding | 184.88M | 192.72M | 202.91M | 212.56M | 225.84M | 249.33M |
| Working Capital | 14.87B | 15.07B | 14.49B | 13.15B | 11.78B | 10.33B |
| Book Value Per Share | 70.83 | 67.38 | 59.74 | 48.85 | 39.47 | 30.04 |
| Tangible Book Value | 13.03B | 12.92B | 12.01B | 10.26B | 8.78B | 7.34B |
| Tangible Book Value Per Share | 70.50 | 67.03 | 59.17 | 48.26 | 38.87 | 29.45 |
| Order Backlog | 5.27B | 6.49B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.80B | 2.22B | 3.08B | 2.60B | 2.62B | 1.95B |
| Depreciation & Amortization | 113.58M | 112.51M | 89.16M | 80.82M | 70.92M | 69.95M |
| Loss (Gain) From Sale of Assets | -1.11M | |||||
| Asset Writedown & Restructuring Costs | 77.90M | 78.18M | ||||
| Loss (Gain) on Equity Investments | 3.04M | 75.00K | -41.64M | 3.00K | -1.53M | -15.09M |
| Stock-Based Compensation | 56.32M | 54.82M | 54.69M | 48.20M | 42.99M | 36.74M |
| Other Operating Activities | 89.11M | 138.00M | 172.21M | 145.96M | 174.67M | 134.53M |
| Change in Inventory | -726.87M | -213.37M | -787.48M | -354.02M | -2.26B | -1.27B |
| Change in Accounts Payable | 165.63M | -239.71M | -286.46M | -196.88M | -104.76M | 640.68M |
| Change in Other Net Operating Assets | -165.84M | -277.99M | -602.95M | -129.70M | 125.55M | -542.72M |
| Operating Cash Flow | 1.41B | 1.87B | 1.68B | 2.20B | 668.47M | 1.00B |
| Capital Expenditures | -109.54M | -122.72M | -118.55M | -92.20M | -112.66M | -72.78M |
| Cash Acquisitions | -10.40M | -10.40M | ||||
| Investment in Securities | -12.71M | 48.00M | -6.86M | -20.14M | -43.00M | -47.66M |
| Other Investing Activities | 9.29M | -5.71M | 30.93M | -16.76M | -5.68M | 6.71M |
| Investing Cash Flow | -25.16M | -80.42M | -94.48M | -129.09M | -171.74M | -124.13M |
| Short-Term Debt Issued | 5.43M | 27.28M | 2.87B | 214.30M | ||
| Total Debt Issued | 800.22M | 5.43M | 27.28M | 2.87B | 214.30M | |
| Short-Term Debt Repaid | -87.08M | -2.91B | ||||
| Long-Term Debt Repaid | -24.51M | -355.83M | -123.29M | -4.86M | -836.89M | |
| Total Debt Repaid | -654.45M | -24.51M | -355.83M | -210.37M | -2.91B | -836.89M |
| Net Debt Issued (Repaid) | 145.77M | -19.08M | -328.55M | -210.37M | -44.27M | -622.59M |
| Issuance of Common Stock | 11.00K | |||||
| Repurchase of Common Stock | -1.38B | -1.24B | -1.23B | -1.01B | -1.09B | -908.14M |
| Common Dividends Paid | -193.81M | -176.68M | -167.71M | -142.46M | -144.12M | -147.83M |
| Other Financing Activities | -23.79M | -4.08M | -57.27M | 51.78M | 41.65M | |
| Financing Cash Flow | -1.45B | -1.44B | -1.78B | -1.31B | -1.24B | -1.68B |
| Net Cash Flow | -71.53M | 355.10M | -195.50M | 754.62M | -739.01M | -798.67M |
| Free Cash Flow | 1.30B | 1.75B | 1.56B | 2.10B | 555.80M | 931.24M |
| Free Cash Flow Margin | 8.13% | 10.10% | 8.71% | 13.10% | 3.47% | 6.78% |
| Free Cash Flow Per Share | 6.77 | 8.76 | 7.45 | 9.52 | 2.35 | 3.58 |
| Levered Free Cash Flow | 844.18M | 1.50B | 931.39M | 1.53B | -24.47M | 221.54M |
| Unlevered Free Cash Flow | 844.54M | 1.50B | 931.69M | 1.53B | -24.29M | 221.86M |
| Cash Interest Paid | 15.10M | 17.25M | 26.05M | 10.79M | 1.80M | 10.86M |
| Cash Income Tax Paid | 575.75M | 698.76M | 739.68M | 784.45M | 641.95M | 457.41M |
| Change in Working Capital | -727.08M | -731.07M | -1.68B | -680.60M | -2.24B | -1.17B |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 22.96B | 22.86B | 22.33B | 22.25B | 10.37B | 14.47B |
| Enterprise Value | 24.01B | 23.57B | 23.18B | 22.91B | 12.95B | 15.53B |
| Last Close Price | 124.74 | 116.51 | 107.34 | 101.05 | 44.17 | 54.69 |
| PE Ratio | 13.33 | 10.30 | 7.24 | 8.58 | 3.99 | 7.50 |
| Forward PE | 13.33 | 10.89 | 8.25 | 9.25 | 5.39 | 6.47 |
| PS Ratio | 1.44 | 1.32 | 1.24 | 1.39 | 0.65 | 1.05 |
| PB Ratio | 1.76 | 1.76 | 1.84 | 2.14 | 1.16 | 1.93 |
| P/TBV Ratio | 1.76 | 1.77 | 1.86 | 2.17 | 1.18 | 1.97 |
| P/FCF Ratio | 17.68 | 13.07 | 14.30 | 10.57 | 18.66 | 15.54 |
| P/OCF Ratio | 16.31 | 12.21 | 13.29 | 10.13 | 15.52 | 14.41 |
| PEG Ratio | 2.10 | 1.84 | 1.08 | 1.05 | 2.50 | 0.21 |
| EV/Sales Ratio | 1.50 | 1.36 | 1.29 | 1.43 | 0.81 | 1.13 |
| EV/EBITDA Ratio | 9.20 | 7.39 | 5.79 | 6.53 | 3.67 | 5.92 |
| EV/EBIT Ratio | 9.62 | 7.66 | 5.92 | 6.68 | 3.75 | 6.08 |
| EV/FCF Ratio | 18.49 | 13.48 | 14.84 | 10.88 | 23.30 | 16.67 |
| Debt / Equity Ratio | 0.18 | 0.18 | 0.20 | 0.26 | 0.32 | 0.38 |
| Debt / EBITDA Ratio | 0.91 | 0.74 | 0.59 | 0.75 | 0.79 | 1.06 |
| Debt / FCF Ratio | 1.86 | 1.37 | 1.52 | 1.27 | 5.06 | 3.04 |
| Net Debt / Equity Ratio | 0.08 | 0.03 | 0.06 | 0.08 | 0.20 | 0.14 |
| Net Debt / EBITDA Ratio | 0.40 | 0.13 | 0.19 | 0.25 | 0.50 | 0.40 |
| Net Debt / FCF Ratio | 0.80 | 0.24 | 0.49 | 0.41 | 3.14 | 1.12 |
| Asset Turnover | 0.88 | 0.98 | 1.07 | 1.04 | 1.14 | 1.07 |
| Inventory Turnover | 0.85 | 0.97 | 1.02 | 0.96 | 1.07 | 1.16 |
| Quick Ratio | 0.59 | 0.98 | 0.89 | 0.92 | 0.57 | 0.87 |
| Current Ratio | 6.99 | 7.55 | 7.88 | 6.91 | 6.05 | 5.31 |
| Return on Equity (ROE) | 13.86% | 17.67% | 27.40% | 26.97% | 31.91% | 27.69% |
| Return on Assets (ROA) | 8.58% | 10.86% | 14.63% | 13.87% | 15.33% | 12.48% |
| Return on Invested Capital (ROIC) | 13.46% | 17.84% | 24.97% | 23.60% | 27.37% | 24.98% |
| Return on Capital Employed (ROCE) | 15.60% | 19.50% | 25.70% | 24.70% | 27.70% | 23.30% |
| Earnings Yield | 7.50% | 9.71% | 13.81% | 11.69% | 25.23% | 13.45% |
| FCF Yield | 5.66% | 7.65% | 7.00% | 9.46% | 5.36% | 6.44% |
| Dividend Yield | 0.83% | 0.78% | 0.74% | 0.65% | 1.31% | 0.97% |
| Payout Ratio | 11.11% | 7.96% | 5.44% | 5.47% | 5.51% | 7.60% |
| Buyback Yield / Dilution | 5.08% | 4.91% | 5.12% | 6.35% | 9.14% | 3.52% |
| Total Shareholder Return | 5.91% | 5.68% | 5.87% | 7.00% | 10.45% | 4.49% |