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PHM

PulteGroup, Inc.

PHM

PulteGroup, Inc. • NYSE
$127.19 ▼ -0.31% (-0.40)
Market Cap $24.79 B
52w High $142.11
52w Low $88.07
Dividend Yield 1.04%
P/E 9.81
Volume 675.49K
Outstanding Shares 194.92M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $4.405B ▲ $400.681M ▲ $585.834M ▼ 13.3% ▼ $2.98 ▼ $793.891M ▼
Q2-2025 $4.404B ▲ $392.754M ▼ $608.483M ▲ 13.817% ▲ $3.05 ▲ $832.343M ▲
Q1-2025 $3.893B ▼ $395.704M ▲ $522.799M ▼ 13.43% ▼ $2.59 ▼ $705.932M ▼
Q4-2024 $4.922B ▲ $198.137M ▼ $913.239M ▲ 18.555% ▲ $4.47 ▲ $1.207B ▲
Q3-2024 $4.476B $409.395M $697.914M 15.591% $3.38 $928.4M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.452B ▲ $17.851B ▲ $5.025B ▲ $12.826B ▲
Q2-2025 $1.238B ▼ $17.588B ▲ $5.013B ▼ $12.575B ▲
Q1-2025 $1.239B ▼ $17.337B ▼ $5.036B ▼ $12.301B ▲
Q4-2024 $1.613B ▲ $17.364B ▲ $5.242B ▼ $12.122B ▲
Q3-2024 $1.4B $16.955B $5.391B $11.564B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-1.13B ▼ $-420.633M ▼ $39.118M ▲ $767.695M ▲ $386.18M ▲ $-356.586M ▼
Q2-2025 $608.483M ▲ $287.505M ▲ $551K ▲ $-296.615M ▲ $-8.559M ▲ $252.973M ▲
Q1-2025 $522.799M ▼ $134.228M ▼ $-39.733M ▼ $-472.29M ▼ $-377.795M ▼ $104.622M ▼
Q4-2024 $913.239M ▲ $567.61M ▲ $13.874M ▲ $-382.94M ▲ $198.544M ▲ $543.13M ▲
Q3-2024 $697.914M $455.92M $-42.149M $-404.601M $9.17M $417.172M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Financial Service
Financial Service
 $120.00M ▲$90.00M ▼$100.00M ▲$100.00M ▲
Home Building Segment
Home Building Segment
 $4.81Bn ▲$3.80Bn ▼$4.30Bn ▲$4.30Bn ▲

Five-Year Company Overview

Income Statement

Income Statement PulteGroup’s income statement shows a builder that has grown steadily and become much more profitable over the last five years. Revenue has climbed meaningfully, even through a choppy housing market, and profits have grown faster than sales, which suggests good cost control and strong pricing power. Margins have improved as the company has focused on higher-value products and disciplined pricing rather than just chasing volume. Earnings per share have increased sharply, helped both by stronger profits and share repurchases. The main risk is that these strong profit levels are tied to a very favorable housing cycle and could come under pressure if demand cools or discounting returns to the industry.

Balance Sheet

Balance Sheet The balance sheet looks comparatively strong for a cyclical business. Assets have grown at a healthy pace, driven mainly by the land and homes needed to support a larger operation. Debt has stayed fairly stable or even edged down relative to the size of the business, while shareholder equity has risen steadily, indicating that profits are being retained and strengthening the company’s financial foundation. Cash balances move around from year to year, which is normal for a homebuilder, but they remain solid enough to provide flexibility. Overall, leverage appears moderate and trending in a safer direction, giving the company some cushion for a weaker housing environment.

Cash Flow

Cash Flow Cash generation has been solid, though somewhat uneven, which is typical in homebuilding where land purchases and development timing can swing cash flows. In recent years, operating cash flow has comfortably covered investment needs, leaving room for healthy free cash flow. Capital spending on equipment and facilities is relatively light compared with the size of the business, so most cash is tied up in land and inventory decisions rather than hard assets. The company appears to be turning a good portion of its accounting profits into actual cash, which supports its ability to fund growth, return capital to shareholders, and manage through downturns.

Competitive Edge

Competitive Edge PulteGroup is one of the larger national homebuilders, which gives it meaningful advantages in purchasing power, marketing, and process efficiency. Its multi-brand strategy lets it serve first-time buyers, move-up families, and active adults under distinct brands, reducing reliance on any single customer group. The Del Webb brand is especially strong in the active adult segment and is a clear differentiator. Management emphasizes disciplined land buying and a focus on profitability over pure volume, which can support healthier margins than some peers. The moat is not huge—this is still a competitive and cyclical industry—but scale, brand depth, and capital discipline give PulteGroup a solid, if narrow, edge.

Innovation and R&D

Innovation and R&D For a traditional industry, PulteGroup is leaning more heavily into innovation than many rivals. It runs real-world test communities focused on energy efficiency and smart-home technology, and it is experimenting with robotic-assisted construction and off-site manufacturing to address labor constraints and improve build times. Its design process is highly customer-focused, using homeowner feedback and digital tools to refine floor plans and everyday living features. The company also layers in integrated mortgage and closing services and experiments with new community concepts like Del Webb Explore. None of this creates an unbreakable moat, but it does signal a culture that is actively trying to improve productivity, product appeal, and customer experience.

Summary

Overall, PulteGroup looks like a financially strong, well-run homebuilder that has used the recent housing upcycle to improve profitability and strengthen its balance sheet. It combines national scale, recognizable brands, and a disciplined approach to land and capital with a willingness to test new technologies and community concepts. Key strengths include improved margins, moderate leverage, solid cash generation, and a diverse customer base across life stages. The main risks center on the inherent cyclicality of housing, sensitivity to interest rates, and the possibility that today’s elevated profit levels prove hard to maintain in a weaker market. The company’s future performance will largely depend on how well it balances growth, land risk, and pricing discipline as conditions in the housing market evolve.

NEWS

November 19, 2025 · 5:50 PM UTC

PulteGroup Increases Quarterly Cash Dividend by 18% to $0.26 Per Share

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November 17, 2025 · 9:00 AM UTC

PulteGroup Initiates Strategic Expansion into Cincinnati Market

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November 13, 2025 · 9:00 AM UTC

Del Webb Announces Grand Opening of New Greater Palm Springs Community, Desert Retreat

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November 10, 2025 · 8:00 AM UTC

PulteGroup Celebrates Veterans Day with More Than Words: Building Homes and Careers for Those Who Served

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October 21, 2025 · 6:30 AM UTC

PulteGroup Reports Third Quarter 2025 Financial Results

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