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PulteGroup

PHM NYSE Homebuilding Financials FY2016–FY2025

PulteGroup's revenue fell 3.5% to $17.3 billion in fiscal 2025. Its net margin was 12.8%, down from 17.2% a year earlier. Free cash flow was $1.7 billion, up 11.9%. It paid out $1.4 billion in dividends and buybacks, 79% of free cash flow. The diluted share count fell 4.9%.

Last close · Oct 23, 2026

$121.19

1.4%
Value it Compare
Revenue Total sales reported in the income statement.
$17.3B
3.5% vs prior year
Operating margin Operating income as a share of revenue.
—
Net income Profit after all expenses, interest and tax.
$2.2B
28.0%
Free cash flow Cash from operations minus capital spending.
$1.7B
11.9%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
17.9%
9.3 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$22.8B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
12.9x
On $9.37 EPS (TTM)

About these figures. Total debt is PulteGroup's notes payable; the borrowings of its mortgage business, shown separately, are not included.

What PulteGroup does

No business description yet.

Legal name
PULTEGROUP, INC.
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0000822416-26-000007
0000822416

Revenue and margins

PulteGroup had $17.3B of revenue in fiscal 2025, down 3.5% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 22.8% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $1.7B in fiscal 2025, 10.1% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

PulteGroup returned $1.4B to shareholders in fiscal 2025, 79% of free cash flow. The diluted share count fell 4.9%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value PulteGroup yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of $350M and divides by 199.5M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 12.9x · peers 14.8x · sector 17.9x.

Balance sheet

Cash, debt and the ratios that show how comfortably PulteGroup can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $1.8B$1.1B$1.8B$1.6B$2.0B
Debt incl. finance leases $2.0B$2.0B$2.0B$1.6B$1.6B
Net debt / EBITDA 0.1x0.3x0.0x0.0x−0.1x
Debt / equity 0.3x0.2x0.2x0.1x0.1x
Interest coverage 5,000.7x12,112.1x7,355.5x8,364.0x4,813.1x
Total assets $13.4B$14.8B$16.1B$17.4B$18.0B
Total liabilities $5.9B$5.9B$5.7B$5.2B$5.1B
Shareholders' equity $7.5B$8.9B$10.4B$12.1B$13.0B
Net debt (− = net cash) $250M$992M$156M$5.3M−$350M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$26.4M

7 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
May 27, 2026 Matthew William KoartExec. VP & COO Sold 7,457 $120.00 $0.9M Form 4
May 8, 2026 Lila SnyderDirector Sold 3,339 $117.18 $0.4M Form 4
Feb 24, 2026 Kevin A HenryEVP and Chief People Officer Sold 5,173 $141.04 $0.7M Form 4
Feb 6, 2026 Brien P. O'MearaVice President & Controller Sold 4,000 $135.51 $0.5M Form 4
Feb 6, 2026 Matthew William KoartExec. VP & COO Sold 15,309 $135.79 $2.1M Form 4
Feb 6, 2026 Todd N SheldonEVP, Gen Counsel, Corp Sec'y Sold 14,220 $135.01 $1.9M Form 4
Feb 5, 2026 Ryan MarshallChief Exec Officer, President, Director Sold 111,250 $133.86 $14.9M Form 4
Feb 5, 2026 Thomas J FolliardDirector Sold 37,000 $134.04 $5.0M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✓ ✕
Cash from operations exceeds net income ✕ ✕ ✕
Debt fell relative to assets ✓ ✓ ✓
Current ratio rose — — —
Share count didn't rise ✓ ✓ ✓
Gross margin rose — — —
Revenue rose relative to assets ✕ ✓ ✕
F-score — / 9— / 9— / 9
Accruals ratio 2.6%8.4%2.0%
Altman Z'' ———

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
PulteGroup PHM $22.8B −3.5% — 10.1% 17.9% 12.9x —
Toll Brothers TOL $13.2B 1.1% 15.7% 9.4% 13.6% 11.2x — Compare →
NVR NVR $16.8B −1.9% — 10.6% — 15.5x — Compare →
Lennar LEN $20.2B −3.5% — 0.1% 8.3% 16.1x — Compare →
D. R. Horton DHI $41.7B −6.9% — 9.6% — 14.0x — Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $7.7B $8.6B $10.2B $10.2B $11.0B $13.7B $16.0B $16.1B $17.9B $17.3B
Interest expense $0.7M $0.5M $0.6M $0.6M $4.2M $0.5M $0.3M $0.5M $0.5M $0.6M
Pretax income $934M $939M $1.3B $1.3B $1.7B $2.5B $3.4B $3.4B $4.0B $2.9B
Income tax $331M $492M $326M $323M $322M $564M $822M $847M $923M $693M
Net income $603M $447M $1.0B $1.0B $1.4B $1.9B $2.6B $2.6B $3.1B $2.2B
Diluted EPS $1.75 $1.44 $3.55 $3.66 $5.18 $7.43 $11.01 $11.72 $14.69 $11.12
Diluted shares 0.34B 0.31B 0.28B 0.28B 0.27B 0.26B 0.24B 0.22B 0.21B 0.20B
Cash flow
Cash from operations $68.3M $663M $1.4B $1.1B $1.8B $1.0B $669M $2.2B $1.7B $1.9B
Capital expenditure $39.3M $32.1M $59.0M $58.1M $58.4M $72.8M $113M $92.2M $119M $123M
Free cash flow $29.0M $631M $1.4B $1.0B $1.7B $931M $556M $2.1B $1.6B $1.7B
Depreciation and amortization $54.0M $51.0M $49.4M $54.0M $66.1M $70.0M $70.9M $80.8M $89.2M $113M
Stock-based compensation $22.2M $33.7M $28.3M $28.4M $32.8M $36.7M $43.0M $48.2M $54.7M $54.8M
Acquisitions $431M $0.0M $0.0M $164M $83.3M $10.4M $10.4M $0.0M $0.0M $0.0M
Share buybacks $603M $910M $295M $274M $171M $897M $1.1B $1.0B $1.2B $1.2B
Dividends paid $125M $113M $104M $122M $130M $148M $144M $143M $168M $177M
Dividends and buybacks $728M $1.0B $399M $397M $301M $1.0B $1.2B $1.1B $1.4B $1.4B
Balance sheet
Cash and short-term investments $699M $273M $1.1B $1.2B $2.6B $1.8B $1.1B $1.8B $1.6B $2.0B
Total debt $3.1B $3.0B $3.0B $2.8B $2.8B $2.0B $2.0B $2.0B $1.6B $1.6B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net $77.4M $70.7M $92.9M $112M $132M $149M $200M $222M $253M $239M
Total assets $10.2B $9.7B $10.2B $10.7B $12.2B $13.4B $14.8B $16.1B $17.4B $18.0B
Total liabilities $5.5B $5.5B $5.4B $5.3B $5.6B $5.9B $5.9B $5.7B $5.2B $5.1B
Shareholders' equity $4.7B $4.2B $4.8B $5.5B $6.6B $7.5B $8.9B $10.4B $12.1B $13.0B
Margins
EBITDA margin 12.9% 11.6% 13.7% 13.7% 16.3% 18.8% 21.9% 22.0% 22.8% 17.5%
Net margin 7.9% 5.2% 10.0% 10.0% 12.8% 14.2% 16.4% 16.2% 17.2% 12.8%
FCF margin 0.4% 7.4% 13.6% 10.0% 15.6% 6.8% 3.5% 13.1% 8.7% 10.1%
Returns
Return on capital 10.8% 6.7% 15.0% 14.8% 20.5% 26.9% 29.7% 25.5% 27.2% 17.9%
Return on equity 12.8% 10.2% 22.8% 19.8% 23.4% 27.7% 31.9% 27.0% 27.4% 17.7%
Return on assets 6.2% 4.5% 10.3% 9.7% 12.3% 15.2% 18.6% 16.9% 18.4% 12.5%
Growth
Revenue growth 28.2% 11.8% 18.8% 0.2% 8.1% 24.5% 16.5% 0.4% 11.7% −3.5%
Net income growth 22.0% −25.8% 128.5% −0.5% 38.4% 38.4% 34.5% −0.6% 18.5% −28.0%
EPS growth 28.7% −17.7% 146.5% 3.1% 41.5% 43.4% 48.2% 6.5% 25.3% −24.3%
FCF growth — 2,077.8% 120.2% −26.7% 69.6% −46.1% −40.3% 278.7% −25.8% 11.9%
Share count change −4.9% −10.3% −7.2% −3.4% −2.1% −3.5% −9.1% −6.4% −5.1% −4.9%
Financial health
Net debt / EBITDA 2.5x 2.8x 1.4x 1.1x 0.1x 0.1x 0.3x 0.0x 0.0x −0.1x
Debt / equity 0.7x 0.7x 0.6x 0.5x 0.4x 0.3x 0.2x 0.2x 0.1x 0.1x
Interest coverage 1,362.3x 1,867.5x 2,181.5x 2,294.8x 407.9x 5,000.7x 12,112.1x 7,355.5x 8,364.0x 4,813.1x
Capital allocation
Capex / revenue 0.5% 0.4% 0.6% 0.6% 0.5% 0.5% 0.7% 0.6% 0.7% 0.7%
Stock comp / revenue 0.3% 0.4% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3%
Payouts / FCF 2,512.1% 162.1% 28.7% 39.0% 17.4% 112.2% 219.3% 54.3% 87.6% 78.7%
Quality scores
Accruals ratio 5.5% −2.2% −4.3% −0.6% −3.3% 7.4% 13.9% 2.6% 8.4% 2.0%

Source: SEC EDGAR XBRL filings (CIK 0000822416). Data updated October 22, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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