PulteGroup, Inc.

PHM · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Valuation
Market cap	$22,856	$22,333	$22,254	$10,373	$14,472	$10,917	$9,824	$6,580	$8,418	$6,079	$6,222	$7,948	$7,803	$6,929	$2,397	$2,873	$2,743	$2,771	$2,658	$8,353	$10,056	$8,058	$5,720	$2,894	$2,194	$1,743	$974	$1,195	$913	$764	$913	$642	$1,013	$819	$584	$236	$295	$293	$210	$315	$362
Enterprise value	$23,278	$23,060	$23,070	$12,132	$15,510	$11,661	$11,861	$8,847	$11,591	$8,841	$7,845	$8,636	$8,387	$8,215	$4,451	$4,845	$5,287	$4,310	$5,517	$12,154	$12,700	$10,836	$7,948	$4,754	$4,368	$2,480	$1,662	$1,829	$1,377	$1,163	$1,348	$1,000	$2,017	$1,743	$2,366	$2,493	$1,196	$500	$764	$312	$314
P/E (TTM) at period end	10.30×	7.24×	8.58×	3.99×	7.50×	7.83×	9.76×	6.51×	19.02×	10.17×	12.67×	16.87×	3.00×	33.61×	–	–	–	–	–	12.15×	6.74×	8.17×	9.16×	6.38×	7.28×	9.25×	5.47×	11.70×	17.29×	4.25×	15.67×	3.95×	12.76×	11.69×	14.34×	7.93×	5.30×	8.83×	28.00×	15.20×	15.29×
P/S (TTM) at period end	1.32×	1.24×	1.39×	0.65×	1.05×	0.99×	0.96×	0.65×	0.98×	0.79×	1.04×	1.37×	1.37×	1.44×	0.58×	0.63×	0.67×	0.44×	0.29×	0.59×	0.68×	0.70×	0.65×	0.39×	0.41×	0.41×	0.26×	0.42×	0.36×	0.32×	0.45×	0.37×	0.62×	0.60×	0.48×	0.20×	0.26×	0.25×	0.27×	0.38×	0.47×
P/B at period end	1.76×	1.84×	2.14×	1.16×	1.93×	1.66×	1.80×	1.37×	2.03×	1.30×	1.31×	1.65×	1.68×	3.16×	1.24×	1.35×	0.86×	0.98×	0.62×	1.27×	1.69×	1.78×	1.66×	1.05×	0.96×	1.40×	0.89×	1.30×	1.12×	0.92×	1.20×	0.90×	1.82×	1.70×	1.64×	0.75×	0.97×	1.15×	0.93×	1.67×	2.14×
EV / EBITDA (TTM)	7.48×	5.80×	6.63×	3.45×	5.90×	6.43×	8.52×	6.33×	11.49×	8.58×	9.05×	11.62×	13.48×	31.76×	–	–	–	–	–	9.89×	5.61×	6.86×	7.98×	6.37×	7.86×	6.36×	5.67×	10.70×	12.43×	10.65×	15.27×	8.56×	–	–	–	–	–	–	–	–	–
EV / Sales (TTM)	1.34×	1.28×	1.44×	0.76×	1.13×	1.06×	1.16×	0.87×	1.35×	1.15×	1.31×	1.48×	1.48×	1.70×	1.08×	1.06×	1.29×	0.69×	0.60×	0.85×	0.86×	0.94×	0.90×	0.64×	0.81×	0.58×	0.44×	0.64×	0.55×	0.49×	0.66×	0.57×	1.24×	1.27×	1.95×	2.16×	1.05×	0.42×	0.97×	0.37×	0.41×
Returns
Return on equity	17.1%	25.4%	25.0%	29.2%	25.8%	21.2%	18.4%	21.0%	10.7%	12.8%	10.3%	9.8%	55.9%	9.4%	(10.9%)	(51.4%)	(37.0%)	(51.9%)	(52.2%)	10.5%	25.0%	21.8%	18.1%	16.4%	13.2%	15.1%	16.3%	11.1%	6.5%	21.7%	7.7%	22.9%	14.3%	14.6%	11.4%	9.4%	18.3%	13.0%	3.3%	11.0%	14.0%
Return on invested capital	17.0%	23.3%	22.9%	24.5%	23.3%	19.4%	13.6%	14.4%	6.2%	8.5%	7.8%	8.8%	11.3%	6.6%	(0.6%)	(11.1%)	(13.0%)	(31.0%)	(29.3%)	7.0%	14.4%	11.9%	10.4%	9.5%	7.2%	11.6%	9.8%	6.5%	5.0%	5.1%	4.1%	5.8%	10.6%	13.6%	8.4%	7.0%	22.5%	15.6%	(2.0%)	10.1%	13.6%
Dividend yield	0.8%	0.8%	0.6%	1.4%	1.0%	1.2%	1.2%	1.6%	1.3%	2.1%	1.9%	1.0%	0.5%	–	–	–	–	1.5%	1.5%	0.5%	0.3%	0.3%	0.2%	0.3%	0.4%	0.4%	0.7%	0.5%	0.6%	0.8%	0.7%	1.0%	0.7%	0.8%	0.5%	1.2%	–	–	–	–	–
Financial health
Current ratio	–	–	–	–	–	–	–	–	–	–	–	–	–	3.01×	–	–	3.92×	3.77×	3.55×	3.43×	2.90×	2.73×	2.47×	2.33×	2.33×	2.19×	4.38×	1.99×	2.15×	2.04×	2.04×	2.53×	–	–	–	–	–	–	1.35×	2.43×	2.87×
Debt / equity	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	1.62×	1.38×	1.24×	0.91×	0.66×	0.79×	0.84×	0.76×	0.90×	0.99×	0.74×	0.68×	0.82×	0.87×	0.71×	0.96×	0.90×	1.81×	1.92×	4.99×	7.14×	2.95×	0.81×	4.10×	0.41×	0.19×
Effective tax rate	23.8%	23.0%	24.6%	23.9%	22.5%	18.6%	24.1%	24.2%	52.4%	35.5%	39.5%	31.2%	(396.4%)	(12.3%)	32.2%	11.2%	40.1%	12.5%	8.9%	36.3%	36.9%	37.6%	38.0%	39.0%	38.5%	38.5%	37.7%	39.0%	38.5%	38.3%	40.5%	39.8%	31.4%	7.3%	5.3%	6.0%	(7.7%)	23.5%	39.0%	49.4%	36.6%
Share count
Diluted shares outstanding	200	210	221	236	260	269	275	285	307	342	360	374	387	385	380	379	300	254	252	259	263	260	251	247	201	169	175	176	176	201	218	223	224	221	201	201	213	211	200	207	211

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986	FY1985
Revenue and gross profit
Revenue	$15,976	$17,312	$17,947	$16,062	$16,003	$13,737	$11,036	$10,213	$10,188	$8,573	$7,668	$5,982	$5,822	$5,680	$4,820	$4,137	$4,569	$4,084	$6,263	$9,263	$14,274	$14,695	$11,514	$8,821	$7,446	$5,389	$4,247	$3,764	$2,866	$2,524	$2,384	$2,029	$1,756	$1,633	$1,370	$1,214	$1,152	$1,138	$1,179	$785	$837	$773
Cost of revenue	($11,595)	($12,507)	($12,502)	($11,155)	($10,988)	($9,786)	($8,082)	($7,685)	($7,667)	($6,596)	($5,620)	($4,272)	($4,244)	($4,507)	($4,064)	($3,641)	($4,176)	($4,658)	($7,102)	($9,877)	($11,843)	($11,336)	($9,890)	($7,787)	($6,666)	($4,807)	($3,815)	($3,430)	($2,696)	($2,413)	($2,275)	($1,941)	($1,639)	–	–	–	–	–	–	($644)	($695)	($654)
Gross profit	$4,381	$4,804	$5,445	$4,907	$5,015	$3,951	$2,954	$2,528	$2,521	$1,982	$2,056	$1,710	$1,578	$1,172	$756	$495	$393	($574)	($839)	($614)	$2,432	$3,359	$1,625	$1,034	$780	$582	$432	$333	$171	$111	$109	$88	$117	–	–	–	–	–	–	$141	$142	$120
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($1,550)	($1,574)	($1,321)	($1,313)	($1,381)	($1,209)	($1,011)	($1,044)	($1,012)	($892)	($957)	($795)	($861)	($568)	($514)	($520)	($895)	($672)	($815)	($1,693)	($1,286)	($1,157)	($92)	($79)	($63)	($60)	($57)	($54)	–	–	–	–	–	–	–	–	–	–	–	($163)	($100)	($90)
Total operating expenses	($2,137)	($1,806)	($1,555)	($1,510)	($1,573)	($1,394)	($1,207)	($1,189)	($1,173)	($1,025)	($1,080)	($890)	($874)	($582)	($528)	($533)	($908)	($672)	($815)	($1,693)	($1,286)	($1,157)	($92)	($79)	($63)	($60)	($57)	($54)	($5)	($8)	($7)	($6)	($13)	–	–	–	–	–	–	($166)	($104)	($94)
Total costs and expenses	($13,732)	($14,313)	($14,057)	($12,665)	($12,561)	($11,180)	($9,289)	($8,874)	($8,841)	($7,616)	($6,692)	($5,161)	($5,119)	($5,089)	($4,591)	($4,174)	($5,084)	($5,331)	($7,917)	($11,570)	($13,129)	($12,493)	($9,982)	($7,866)	($6,729)	($4,866)	($3,871)	($3,484)	($2,701)	($2,421)	($2,282)	($1,947)	($1,652)	($1,392)	($1,164)	($1,023)	($959)	($867)	($1,085)	($810)	($800)	($747)
Operating income	$2,244	$2,999	$3,890	$3,396	$3,442	$2,557	$1,747	$1,339	$1,348	$957	$977	$820	$703	$591	$229	($37)	($515)	($1,247)	($1,654)	($2,307)	$1,146	$2,202	$1,532	$955	$717	$523	$376	$280	$166	$103	$102	$82	$104	$240	$206	$191	$193	$271	$94	($25)	$37	$26
Earnings
EBITDA	–	$3,111	$3,979	$3,477	$3,513	$2,627	$1,813	$1,393	$1,397	$1,008	$1,031	$867	$743	$622	$259	($5)	($469)	($1,192)	($1,580)	($2,223)	$1,229	$2,263	$1,578	$995	$746	$556	$390	$293	$171	$111	$109	$88	$117	–	–	–	–	–	–	–	–	–
Interest income	–	$44	$59	$62	$2	$2	$7	$17	$8	$3	$3	$3	$5	$4	$5	$5	$10	$9	$26	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	–	($1)	($0)	($0)	($0)	($1)	($4)	($1)	($1)	($1)	($1)	($1)	($1)	($1)	($1)	($1)	($3)	($2)	($3)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Pre-tax income	$2,352	$2,911	$4,006	$3,449	$3,440	$2,510	$1,729	$1,340	$1,348	$939	$934	$816	$690	$528	$184	($310)	($1,235)	($1,975)	($1,683)	($2,497)	$1,083	$2,277	$1,601	$996	$729	$492	$355	$286	$166	$81	$102	$82	$104	$113	$78	$45	$32	$52	$43	$12	$41	$37
Income tax expense	($556)	($693)	($923)	($847)	($822)	($564)	($322)	($323)	($326)	($492)	($331)	($322)	($215)	$2,092	$23	$100	$138	$793	$209	$222	($393)	($840)	($603)	($378)	($284)	($189)	($137)	($108)	($65)	($31)	($39)	($33)	($41)	($36)	($6)	($2)	($2)	$4	($10)	($5)	($20)	($14)
Net income	$1,796	$2,219	$3,083	$2,602	$2,617	$1,946	$1,407	$1,017	$1,022	$447	$603	$494	$474	$2,620	$206	($210)	($1,097)	($1,183)	($1,473)	($2,256)	$687	$1,492	$987	$625	$454	$301	$189	$178	$102	$53	$180	$58	$163	$79	$70	$41	$30	$56	$33	$8	$21	$24
Per share
Diluted EPS (GAAP)	$9.36	$11.12	$14.69	$11.72	$11.01	$7.43	$5.18	$3.66	$3.55	$1.44	$1.75	$1.36	$1.26	$6.72	$0.54	($0.55)	($2.90)	($3.94)	($5.81)	($8.94)	$2.66	$5.68	$3.79	$2.48	$1.84	$1.50	$1.12	$1.01	$0.58	$0.30	$0.90	$0.27	$0.73	$0.36	$0.32	$0.20	$0.15	$0.26	$0.16	$0.0375	$0.10	$0.11
Basic EPS (GAAP)	$9.43	$11.21	$14.82	$11.79	$11.07	$7.44	$5.19	$3.67	$3.56	$1.45	$1.76	$1.38	$1.27	$6.79	$0.54	($0.55)	($2.90)	($3.94)	($5.81)	($8.94)	$2.73	$5.84	$3.91	$2.56	$1.88	$1.53	$1.14	$1.03	$0.60	$0.30	$0.90	$0.27	$0.73	$0.36	$0.32	$0.21	$0.15	$0.26	$0.16	$0.0375	$0.10	$0.11
Basic shares outstanding	191	198	208	220	235	259	269	274	284	305	340	357	370	383	382	380	379	300	254	252	252	255	253	244	242	196	165	173	172	175	199	216	223	224	217	199	201	213	211	200	207	211
Margins
Gross margin	27.4%	27.8%	30.3%	30.5%	31.3%	28.8%	26.8%	24.8%	24.7%	23.1%	26.8%	28.6%	27.1%	20.6%	15.7%	12.0%	8.6%	(14.1%)	(13.4%)	(6.6%)	17.0%	22.9%	14.1%	11.7%	10.5%	10.8%	10.2%	8.9%	6.0%	4.4%	4.6%	4.4%	6.7%	–	–	–	–	–	–	18.0%	16.9%	15.5%
Operating margin	14.0%	17.3%	21.7%	21.1%	21.5%	18.6%	15.8%	13.1%	13.2%	11.2%	12.7%	13.7%	12.1%	10.4%	4.7%	(0.9%)	(11.3%)	(30.5%)	(26.4%)	(24.9%)	8.0%	15.0%	13.3%	10.8%	9.6%	9.7%	8.8%	7.4%	5.8%	4.1%	4.3%	4.0%	5.9%	14.7%	15.0%	15.7%	16.7%	23.8%	8.0%	(3.2%)	4.4%	3.3%
Net margin	11.2%	12.8%	17.2%	16.2%	16.4%	14.2%	12.7%	10.0%	10.0%	5.2%	7.9%	8.3%	8.1%	46.1%	4.3%	(5.1%)	(24.0%)	(29.0%)	(23.5%)	(24.4%)	4.8%	10.2%	8.6%	7.1%	6.1%	5.6%	4.4%	4.7%	3.6%	2.1%	7.5%	2.9%	9.3%	4.9%	5.1%	3.4%	2.6%	4.9%	2.8%	1.0%	2.5%	3.1%

Analyst consensus

Hold44 analysts

Bearish · 3 · Hold · 21 · Bullish · 20

Earnings history

	EPS	Estimate
Q4 2024	$3.50	$3.28	Beat
Q1 2025	$2.57	$2.43	Beat
Q2 2025	$3.03	$2.95	Beat
Q3 2025	$2.96	$2.89	Beat
Q4 2025	$2.58	$2.81	Miss
Q1 2026	$1.79	$1.81	Miss
Q2 2026	$2.48	$2.36	Beat
Q3 2026	$2.53	$2.65	Miss

Peers

Company overview

IPO dateMar 17, 1980

CEORyan R. Marshall

Employees6,506

SectorConsumer Cyclical

IndustryResidential Construction

CountryUS

ExchangeNew York Stock Exchange

Websitewww.pultegroupinc.com

PulteGroup, Inc. engages in the homebuilding business. The firm is also involved in mortgage banking and title and insurance brokerage operations. It operates through the Homebuilding and Financial services business segments. The Homebuilding segment includes operations from Connecticut, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Virginia, Georgia, North Carolina, South Carolina, Tennessee, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, Ohio, Texas, Arizona, California, Nevada, New Mexico, and Washington. The Financial Services segment is composed of mortgage banking and title operations. The company was founded by William J. Pulte in 1950 and is headquartered in Atlanta, GA.

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