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Saturday 31 October 2026 Export PHM’s income statement to Excel — free account

PulteGroup, Inc.

PHM Consumer Cyclical Residential Construction

PulteGroup, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $17.3 billion, down 3.54% from fiscal 2024. In the quarter to June 2026, revenue fell 9.56%, EPS fell 18.4%, free cash flow fell 105.1% and total debt rose 8.33%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years.

124.74 0.38 +0.31%
Market cap
$22.9B
P/E
12.7×
Fwd P/E
13.4×
Dividend yield
0.83%
F-score
5/9
Altman Z
4.98
Beneish M
n/a
Dividend safety
92/100
Overview Business Profile Financial Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Filings
Impairment
All filings →

Insider Decisions trades per month

Total sells 26.41
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — 6 — — 2 — — — — —
Insider Ownership 3.45%

Capital & Financial Ratios $m

Market Cap 22,890.00
Revenue 16,407.08
Net Income 1,906.45
Free Cash Flow 1,512.44
Net Debt 920.84
Current Ratio 0.78 (below 1: weak)
Debt/Equity 0.18 (at or below 0.5: strong)
P/E ratio 12.69
Fwd P/E 13.40
P/S ratio 1.44
P/B ratio 1.82
Past 5Y EPS Growth 16.51% (at or above 15%: strong)
This Y EPS Growth (15.19%) (below 0%: weak)
Next Y EPS Growth 3.10%
Next Y revenue growth (0.35%) (below 0%: weak)
Next 5Y EPS Growth 1.33%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.5×, against a ten-year median of 1.3×; over the ten years it ranged from 0.7× in 2022 to 1.8× in 2024.
P/E against its own 10 years 83.14%
10-year low 10-year high
P/S against its own 10 years 88.87%
10-year low 10-year high
P/B against its own 10 years 54.39%
10-year low 10-year high
EV/Sales against its own 10 years 88.32%
10-year low 10-year high
EV/FCF against its own 10 years 68.88%
10-year low 10-year high

Dividends

Payout Ratio 0.11
Annual Dividend Rate 1.04
Annual Dividend Yield 0.83%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.16
0.26
0.26
0.26
2025 0.92
0.22
0.22
0.22
0.26
2024 0.82
0.20
0.20
0.20
0.22
2023 0.68
0.16
0.16
0.16
0.20
2022 0.61
0.15
0.15
0.15
0.16
2021 0.57
0.14
0.14
0.14
0.15
2020 0.50
0.12
0.12
0.12
0.14
2019 0.45
0.11
0.11
0.11
0.12
2018 0.38
0.09
0.09
0.09
0.11
2017 0.36
0.09
0.09
0.09
0.09
2016 0.36
0.09
0.09
0.09
0.09
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,849 1,654 2,009 1,377
Receivables — — — —
Inventory — — — —
Other — — — —
2,365 2,283 2,622 1,927
2023 2024 2025 Q'26
Payables 619 728 725 718
ST’ Debt 500 527 532 478
Other — — — —
2,764 2,667 2,596 2,457

Compound Annual Growth %

10y 5y 3y
Sales 11.21% 9.42% 2.66%
Cash Flow 0.00% 0.96% 40.93%
Earnings 16.28% 9.73% (5.16%)
Book Value 10.56% 14.60% 13.36%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 2.63 Actual 2.53

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 2.78 2.88 Beat by 0.10
Q1 FY26 1.80 1.79 Miss by 0.01
Q2 FY26 2.38 2.48 Beat by 0.10
Q3 FY26 2.63 2.53 Miss by 0.10
Q4 FY26 2.72 — Reports 4 February 2027

EPS $

Mar Jun Sep Dec Year
’26 1.79 2.48 — — —
’25 2.57 3.03 2.96 2.56 11.12
’24 3.10 3.83 3.35 4.43 14.69
’23 2.35 3.21 2.90 3.28 11.72
’22 1.83 2.73 2.69 3.85 11.01
’21 1.13 1.90 1.82 2.61 7.43
’20 0.74 1.29 1.54 1.62 5.18
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 3,409 3,983 — — —
’25 3,893 4,404 4,405 4,611 17,312
’24 3,949 4,600 4,476 4,922 17,947
’23 3,576 4,189 4,004 4,294 16,062
’22 3,150 3,880 3,895 5,079 16,003
’21 2,730 3,359 3,479 4,169 13,737
’20 2,295 2,594 2,955 3,192 11,036
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 160 17 — — —
’25 134 288 678 771 1,871
’24 240 417 456 568 1,681
’23 711 739 458 288 2,197
’22 208 (105) (406) 972 668
’21 177 255 116 456 1,004
’20 205 603 459 518 1,784
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 134 (13) — — —
’25 105 253 651 740 1,749
’24 216 386 417 543 1,562
’23 688 718 435 264 2,105
’22 177 (137) (432) 948 556
’21 162 239 96 435 931
’20 184 587 449 506 1,726
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Price, $
Price, $ Low 14.61 18.18 20.64 25.10 17.12 39.92 35.03 45.53 99.03 88.07 +22.1% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
High 22.40 34.60 35.21 41.22 49.70 63.91 58.09 105.13 149.47 142.11 +22.8% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
People
People Employees 4,623 4,810 5,086 5,245 5,249 6,182 6,524 6,382 6,793 6,506 +3.9% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
Revenue/emp, $m 1.66 1.78 2.00 1.95 2.10 2.22 2.45 2.52 2.64 2.66 +5.4% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
Income, $m
Income, $m Revenue 7,677 8,578 10,188 10,213 11,036 13,737 16,003 16,062 17,947 17,312 +9.5% 17,252 17,462 18,762 +2.7%
Gross margin, % 25.37 21.72 23.30 23.47 25.17 27.53 30.21 29.38 29.09 26.41 +1.0 pt
EBT 934 939 1,348 1,340 1,729 2,510 3,440 3,449 4,006 2,911 +13.5%
EBT margin, % 12.17 10.95 13.23 13.12 15.66 18.27 21.49 21.48 22.32 16.82 +4.6 pt
Net income 603 447 1,022 1,017 1,407 1,946 2,617 2,602 3,083 2,219 +15.6%
Depreciation 54 51 49 54 86 70 71 81 89 141 +11.3%
Per share, $
Per share, $ Revenue 22.59 28.12 35.93 37.21 41.09 52.98 68.09 73.02 86.24 87.45 +16.2%
Earnings 1.76 1.45 3.56 3.56 5.19 7.44 11.07 11.79 14.82 11.21 +22.8%
Cash flow 0.20 2.17 5.11 3.92 6.64 3.87 2.84 9.99 8.08 9.45 +53.4%
Capex (0.12) (0.11) (0.21) (0.21) (0.22) (0.28) (0.48) (0.42) (0.57) (0.62) +20.5%
Free cash flow 0.09 2.07 4.90 3.71 6.43 3.59 2.37 9.57 7.51 8.83 +67.5%
Book value 13.71 13.62 16.99 19.88 24.46 28.89 37.93 47.21 58.25 65.59 +19.0%
Shares, m 340 305 284 274 269 259 235 220 208 198 (5.8%)
Valuation, ×
Valuation, × P/E 10.42 23.01 7.30 10.57 8.29 7.63 4.15 8.61 7.34 10.47 9.8
P/S 0.82 1.19 0.72 1.04 1.05 1.08 0.68 1.39 1.26 1.34 1.1
P/B 1.35 2.45 1.53 1.95 1.76 1.98 1.22 2.15 1.87 1.79 1.8
EV/Sales 1.18 1.55 0.94 1.22 1.10 1.14 0.77 1.43 1.29 1.35 1.2
EV/FCF 311.99 21.11 6.92 12.27 7.02 16.80 22.30 10.90 14.82 13.36 43.7
Cash, $m
Cash, $m Operating cash flow 68 663 1,448 1,076 1,784 1,004 668 2,197 1,681 1,871 +44.5%
Capex (39) (32) (59) (58) (58) (73) (113) (92) (119) (123) +13.5%
Free cash flow 29 631 1,389 1,018 1,726 931 556 2,105 1,562 1,749 +57.7%
Balance, $m
Balance, $m Working capital (904) (1,311) (466) (438) 867 (43) (1,066) (399) (384) 27 n/m
Total debt 3,461 3,445 3,376 3,092 3,164 2,655 2,632 2,462 2,145 2,163 (5.1%)
Net debt 2,738 3,139 2,243 1,840 532 822 1,538 613 492 155 (27.3%)
Shareholders’ equity 4,659 4,154 4,818 5,458 6,570 7,490 8,914 10,383 12,122 12,985 +12.1%
Returns, %
Returns, % ROA 6.18 4.46 10.18 9.64 12.17 15.10 18.48 16.79 18.43 12.53 +6.4 pt
ROIC 7.89 8.05 11.93 11.51 15.21 19.21 20.26 19.58 19.63 13.83 +5.9 pt
ROE 12.70 10.04 22.53 19.59 23.19 27.45 31.71 26.87 27.40 17.67 +5.0 pt
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
Homebuilding 16,923 97.75%
Financial Services 389 2.25%
Gross margin 26.41%
Operating margin 16.79%
Pre-tax margin 16.82%

Revenue by segment since 2016

PulteGroup, Inc. vs peers in Residential Construction (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
DHI D.R. Horton, Inc. $41.0B 13.9× 14.1× +0.02% (above 0%: growing) −4.75% (below 0%: shrinking) −44.12% (below 0%: shrinking) 23.26% 12.52% Compare
LEN.B Lennar Corporation $38.8B 16.2× — −8.67% (below 0%: shrinking) −48.03% (below 0%: shrinking) +50.14% (above 0%: growing) 7.69% 5.97% Compare
PHM PulteGroup, Inc. $22.9B 12.7× 13.4× −9.56% (below 0%: shrinking) −18.36% (below 0%: shrinking) −105.08% (below 0%: shrinking) 25.04% 15.53%
LEN Lennar Corporation $20.3B 16.5× 17.9× −8.67% (below 0%: shrinking) −48.03% (below 0%: shrinking) +50.14% (above 0%: growing) 7.69% 5.97% Compare
NVR NVR, Inc. $16.0B 14.7× 17.6× −10.48% (below 0%: shrinking) −23.46% (below 0%: shrinking) −682.68% (below 0%: shrinking) 20.85% 14.17% Compare
TOL Toll Brothers Inc. $13.3B 11.7× 11.5× −9.72% (below 0%: shrinking) −20.74% (below 0%: shrinking) −36.31% (below 0%: shrinking) 23.52% 13.51% Compare
IBP Installed Building Products, Inc. $5.6B 22.9× 24.3× +2.30% (above 0%: growing) −3.56% (below 0%: shrinking) −30.95% (below 0%: shrinking) 33.29% 12.16% Compare
SKY Champion Homes, Inc. $4.4B 24.8× 24.4× +1.27% (above 0%: growing) −21.24% (below 0%: shrinking) −4.47% (below 0%: shrinking) 25.24% 8.49% Compare
CVCO Cavco Industries, Inc. $4.2B 26.8× 27.5× +9.54% (above 0%: growing) −15.56% (below 0%: shrinking) +5.65% (above 0%: growing) 22.07% 8.65% Compare
Median of peers $14.7B 16.4× 17.9× −4.32% −20.99% −17.71% 22.67% 10.41%

All 19 Residential Construction stocks →

Financial Analysis (summary)

Updated

PulteGroup reported revenue of $17.3 billion in FY2025, net income of $2.2 billion in FY2025, and diluted EPS of $11.12 in FY2025. Revenue declined by −3.54% in FY2025 against FY2024, while net income declined by −28.0% in FY2025 against FY2024. Free cash flow was $1.7 billion in FY2025, compared with $1.6 billion in FY2024.

In Q2 FY2026, revenue was $4.0 billion, net income was $472.0 million, and diluted EPS was $2.48. Revenue declined by −9.56% in Q2 FY2026 against Q2 FY2025, while diluted EPS declined by −18.2% in Q2 FY2026 against Q2 FY2025. Net debt was $920.8 million in Q2 FY2026, and free cash flow was −$12.9 million in Q2 FY2026.

Pay and ownership Proxy statement filed 13 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 15.39m 24.27m 285.70
2024 18.44m 24.99m 263.19
2023 12.53m 39.67m 247.74
2022 14.48m 10.93m 108.29
2021 16.15m 20.60m 134.05
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

PulteGroup, Inc. (PHM) Latest News

29 Oct

Impact 3 ·
Impact 3 ·

27 Oct

Impact 3 ·

23 Oct

Impact 4 ·
Impact 3 ·
Impact 3 ·

22 Oct

Impact 4 · transcript
Impact 4 · transcript
Impact 4 ·
Impact 3 · transcript
Impact 3 ·
Impact 3 ·
Impact 3 ·
Impact 3 ·
Impact 3 ·
Impact 3 ·

21 Oct

Impact 3 ·
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19 Oct

Impact 3 ·
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16 Oct

Impact 3 ·

15 Oct

Impact 3 ·

14 Oct

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8 Oct

Impact 4 ·

7 Oct

Impact 3 ·

6 Oct

Impact 3 ·
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5 Oct

Impact 3 ·
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PHM metrics, ten years each

stockrow.com/PHM · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com