Pultegroup Financials
This page shows Pultegroup (PHM) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
PulteGroup’s profit engine keeps turning earnings into cash while an almost debt-free balance sheet supports large buybacks.
Across recent years, net income of$7.9B translated into$5.7B of operating cash flow, so accounting profit has been backed by real cash even though working-capital timing still creates year-to-year swings. Because capex stayed near$100M a year, free cash flow remained close to operating cash, which means the business uses little fixed-asset reinvestment and is influenced more by balance-sheet timing than by plant-heavy spending.
FY2025 margin pressure came from cost absorption, not financing: SG&A rose to
Balance-sheet conservatism gives management unusual flexibility: cash of
Financial Health Signals
We are recalculating Pultegroup's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.
Pultegroup passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Pultegroup generates $0.84 in operating cash flow ($1.9B OCF vs $2.2B net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
Pultegroup generated $17.3B in revenue in fiscal year 2025. This represents a decrease of 3.5% from the prior year.
Pultegroup reported $2.2B in net income in fiscal year 2025. This represents a decrease of 28.0% from the prior year.
Pultegroup earned $11.12 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 24.3% from the prior year.
Cash & Balance Sheet
Pultegroup generated $1.7B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 11.9% from the prior year.
Pultegroup held $2.0B in cash against $43.9M in long-term debt as of fiscal year 2025.
Pultegroup paid $0.92 per share in dividends in fiscal year 2025. This represents an increase of 12.2% from the prior year.
Pultegroup had 192M shares outstanding in fiscal year 2025. This represents a decrease of 5.0% from the prior year.
Margins & Returns
Pultegroup's net profit margin was 12.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 4.4 percentage points from the prior year.
Pultegroup's ROE was 17.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 8.4 percentage points from the prior year.
Capital Allocation
Pultegroup spent $1.2B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 0.0% from the prior year.
Pultegroup invested $122.7M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 3.5% from the prior year.
PHM Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.4B-26.1% | $4.6B+4.7% | $4.4B0.0% | $4.4B+13.1% | $3.9B-20.9% | $4.9B+10.0% | $4.5B-2.7% | $4.6B |
| Cost of Revenue | $2.5B | N/A | $3.2B+1.1% | $3.1B+13.6% | $2.8B | N/A | $3.1B-1.3% | $3.2B |
| Gross Profit | $881.3M | N/A | $1.2B-2.8% | $1.3B+12.0% | $1.1B | N/A | $1.4B-5.8% | $1.4B |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $380.3M-2.3% | $389.5M-2.8% | $400.7M+2.6% | $390.5M-0.7% | $393.3M+101.1% | $195.6M-51.9% | $406.9M+12.7% | $361.1M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $102.4M-33.3% | $153.6M-15.6% | $182.0M-8.4% | $198.7M+25.5% | $158.3M-41.2% | $269.5M+29.4% | $208.3M-12.9% | $239.2M |
| Net Income | $347.0M-30.8% | $501.6M-14.4% | $585.8M-3.7% | $608.5M+16.4% | $522.8M-42.8% | $913.2M+30.9% | $697.9M-13.7% | $809.1M |
| EPS (Diluted) | $1.79 | N/A | $2.96-2.3% | $3.03+17.9% | $2.57 | N/A | $3.35-12.5% | $3.83 |
PHM Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $18.2B+0.8% | $18.0B+1.1% | $17.9B+1.5% | $17.6B+1.4% | $17.3B-0.2% | $17.4B+2.4% | $17.0B+2.5% | $16.5B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $1.8B-8.8% | $2.0B+36.5% | $1.5B+17.6% | $1.2B-0.1% | $1.2B-23.4% | $1.6B+15.4% | $1.4B+0.3% | $1.4B |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $40.4M0.0% | $40.4M-41.4% | $68.9M0.0% | $68.9M0.0% | $68.9M0.0% | $68.9M0.0% | $68.9M0.0% | $68.9M |
| Total Liabilities | $5.2B+3.5% | $5.1B+0.8% | $5.0B+0.2% | $5.0B-0.5% | $5.0B-3.9% | $5.2B-2.8% | $5.4B+1.3% | $5.3B |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | $44.4M+1.1% | $43.9M | N/A | N/A | N/A | $31.1M | N/A | N/A |
| Total Equity | $13.0B-0.2% | $13.0B+1.2% | $12.8B+2.0% | $12.6B+2.2% | $12.3B+1.5% | $12.1B+4.8% | $11.6B+3.0% | $11.2B |
| Retained Earnings | N/A | $9.5B | N/A | N/A | N/A | $8.7B | N/A | N/A |
PHM Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $159.8M-79.3% | $771.1M+13.7% | $678.4M+136.0% | $287.5M+114.2% | $134.2M-76.4% | $567.6M+24.5% | $455.9M+9.2% | $417.5M |
| Capital Expenditures | $25.4M-18.9% | $31.3M+14.9% | $27.3M-21.1% | $34.5M+16.6% | $29.6M+20.9% | $24.5M-36.8% | $38.7M+24.0% | $31.2M |
| Free Cash Flow | $134.4M-81.8% | $739.8M+13.6% | $651.1M+157.4% | $253.0M+141.8% | $104.6M-80.7% | $543.1M+30.2% | $417.2M+8.0% | $386.2M |
| Investing Cash Flow | -$24.9M-52.7% | -$16.3M+34.5% | -$24.9M-4623.0% | $551K+101.4% | -$39.7M-386.4% | $13.9M+132.9% | -$42.1M-7.2% | -$39.3M |
| Financing Cash Flow | -$300.2M-33.1% | -$225.6M+48.9% | -$441.2M-48.8% | -$296.6M+37.2% | -$472.3M-23.3% | -$382.9M+5.4% | -$404.6M+42.1% | -$698.3M |
| Dividends Paid | $52.0M+20.9% | $43.0M-1.0% | $43.5M-1.3% | $44.0M-3.9% | $45.8M+11.4% | $41.1M-1.0% | $41.6M-1.2% | $42.1M |
| Share Buybacks | $308.2M+2.7% | $300.0M0.0% | $300.0M0.0% | $300.0M0.0% | $300.0M-6.3% | $320.0M0.0% | $320.0M+1.9% | $314.2M |
PHM Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 25.9% | N/A | 27.8%-0.8pp | 28.6%-0.3pp | 28.8% | N/A | 30.4%-1.0pp | 31.4% |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | 10.2%-0.7pp | 10.9%-2.4pp | 13.3%-0.5pp | 13.8%+0.4pp | 13.4%-5.1pp | 18.6%+3.0pp | 15.6%-2.0pp | 17.6% |
| Return on Equity | 2.7%-1.2pp | 3.9%-0.7pp | 4.6%-0.3pp | 4.8%+0.6pp | 4.3%-3.3pp | 7.5%+1.5pp | 6.0%-1.2pp | 7.2% |
| Return on Assets | 1.9%-0.9pp | 2.8%-0.5pp | 3.3%-0.2pp | 3.5%+0.4pp | 3.0%-2.2pp | 5.3%+1.1pp | 4.1%-0.8pp | 4.9% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 0.40+0.4 | 0.00-0.4 | 0.390.0 | 0.40-0.0 | 0.41+0.4 | 0.00-0.5 | 0.470.0 | 0.47 |
| FCF Margin | 3.9%-12.1pp | 16.1%+1.3pp | 14.8%+9.0pp | 5.7%+3.0pp | 2.7%-8.3pp | 11.0%+1.7pp | 9.3%+0.9pp | 8.4% |
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Frequently Asked Questions
What is Pultegroup's annual revenue?
Pultegroup (PHM) reported $17.3B in total revenue for fiscal year 2025. This represents a -3.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Pultegroup's revenue growing?
Pultegroup (PHM) revenue declined by 3.5% year-over-year, from $17.9B to $17.3B in fiscal year 2025.
Is Pultegroup profitable?
Yes, Pultegroup (PHM) reported a net income of $2.2B in fiscal year 2025, with a net profit margin of 12.8%.
How much debt does Pultegroup have?
As of fiscal year 2025, Pultegroup (PHM) had $2.0B in cash and equivalents against $43.9M in long-term debt.
What is Pultegroup's net profit margin?
Pultegroup (PHM) had a net profit margin of 12.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Pultegroup pay dividends?
Yes, Pultegroup (PHM) paid $0.92 per share in dividends during fiscal year 2025.
What is Pultegroup's return on equity (ROE)?
Pultegroup (PHM) has a return on equity of 17.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Pultegroup's free cash flow?
Pultegroup (PHM) generated $1.7B in free cash flow during fiscal year 2025. This represents a 11.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Pultegroup's operating cash flow?
Pultegroup (PHM) generated $1.9B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Pultegroup's total assets?
Pultegroup (PHM) had $18.0B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Pultegroup's capital expenditures?
Pultegroup (PHM) invested $122.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Pultegroup's debt-to-equity ratio?
Pultegroup (PHM) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Pultegroup's return on assets (ROA)?
Pultegroup (PHM) had a return on assets of 12.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Pultegroup's Piotroski F-Score?
Pultegroup (PHM) has a Piotroski F-Score of 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Pultegroup's earnings high quality?
Pultegroup (PHM) has an earnings quality ratio of 0.84x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.