NYSE: PHM
PulteGroup
Consumer Discretionary · Operative Builders
52-week range
$107.16$144.50
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$21.4B
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| Period | Market cap |
|---|---|
| FY2016, ended Dec 31, 2016 | $5.84B |
| FY2017, ended Dec 31, 2017 | $9.52B |
| FY2018, ended Dec 31, 2018 | $7.20B |
| FY2019, ended Dec 31, 2019 | $10.5B |
| FY2020, ended Dec 31, 2020 | $11.5B |
| FY2021, ended Dec 31, 2021 | $14.2B |
| FY2022, ended Dec 31, 2022 | $10.3B |
| FY2023, ended Dec 31, 2023 | $21.9B |
| FY2024, ended Dec 31, 2024 | $22.0B |
| FY2025, ended Dec 31, 2025 | $22.6B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $21.4B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$16.0B
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| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | $7.68B |
| FY2017, ended Dec 31, 2017 | $8.58B |
| FY2018, ended Dec 31, 2018 | $10.2B |
| FY2019, ended Dec 31, 2019 | $10.2B |
| FY2020, ended Dec 31, 2020 | $11.0B |
| FY2021, ended Dec 31, 2021 | $13.7B |
| FY2022, ended Dec 31, 2022 | $16.0B |
| FY2023, ended Dec 31, 2023 | $16.1B |
| FY2024, ended Dec 31, 2024 | $17.9B |
| FY2025, ended Dec 31, 2025 | $17.3B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $16.0B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $603M | $29.0M |
| FY2017, ended Dec 31, 2017 | $447M | $631M |
| FY2018, ended Dec 31, 2018 | $1.02B | $1.39B |
| FY2019, ended Dec 31, 2019 | $1.02B | $1.02B |
| FY2020, ended Dec 31, 2020 | $1.41B | $1.73B |
| FY2021, ended Dec 31, 2021 | $1.95B | $931M |
| FY2022, ended Dec 31, 2022 | $2.62B | $556M |
| FY2023, ended Dec 31, 2023 | $2.60B | $2.10B |
| FY2024, ended Dec 31, 2024 | $3.08B | $1.56B |
| FY2025, ended Dec 31, 2025 | $2.22B | $1.75B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $1.80B | $1.30B |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$1.37B
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $699M |
| FY2017, ended Dec 31, 2017 | $273M |
| FY2018, ended Dec 31, 2018 | $1.11B |
| FY2019, ended Dec 31, 2019 | $1.22B |
| FY2020, ended Dec 31, 2020 | $2.58B |
| FY2021, ended Dec 31, 2021 | $1.78B |
| FY2022, ended Dec 31, 2022 | $1.05B |
| FY2023, ended Dec 31, 2023 | $1.81B |
| FY2024, ended Dec 31, 2024 | $1.61B |
| FY2025, ended Dec 31, 2025 | $1.98B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $1.37B |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.—
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| Period | Total debt |
|---|---|
| FY2016, ended Dec 31, 2016 | — |
| FY2017, ended Dec 31, 2017 | — |
| FY2018, ended Dec 31, 2018 | — |
| FY2019, ended Dec 31, 2019 | — |
| FY2020, ended Dec 31, 2020 | — |
| FY2021, ended Dec 31, 2021 | $63.9M |
| FY2022, ended Dec 31, 2022 | $77.3M |
| FY2023, ended Dec 31, 2023 | $73.5M |
| FY2024, ended Dec 31, 2024 | $31.1M |
| FY2025, ended Dec 31, 2025 | $43.9M |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | — |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Down 42.1% since 2016.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.184M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 318M |
| FY2017, ended Dec 31, 2017 | 286M |
| FY2018, ended Dec 31, 2018 | 277M |
| FY2019, ended Dec 31, 2019 | 270M |
| FY2020, ended Dec 31, 2020 | 266M |
| FY2021, ended Dec 31, 2021 | 249M |
| FY2022, ended Dec 31, 2022 | 226M |
| FY2023, ended Dec 31, 2023 | 212M |
| FY2024, ended Dec 31, 2024 | 202M |
| FY2025, ended Dec 31, 2025 | 192M |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | 184M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.Net: $1.28B more bought back than issued
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| Period | Bought back | Paid to employees | Sold for cash |
|---|---|---|---|
| FY2016, ended Dec 31, 2016 | $603M | $22.2M | $5.84M |
| FY2017, ended Dec 31, 2017 | $910M | $33.7M | $27.7M |
| FY2018, ended Dec 31, 2018 | $295M | $28.3M | $6.55M |
| FY2019, ended Dec 31, 2019 | $274M | $28.4M | $6.40M |
| FY2020, ended Dec 31, 2020 | $171M | $32.8M | $111K |
| FY2021, ended Dec 31, 2021 | $897M | $36.7M | $11.0K |
| FY2022, ended Dec 31, 2022 | $1.07B | $43.0M | $0 |
| FY2023, ended Dec 31, 2023 | $1.00B | $48.2M | $0 |
| FY2024, ended Dec 31, 2024 | $1.20B | $54.7M | — |
| FY2025, ended Dec 31, 2025 | $1.20B | $54.8M | — |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $1.33B | $56.3M | — |
Revenue (TTM)
$16.0B
−9.3% YoY
Net income (TTM)
$1.80B
−31.7% YoY
Cash
$1.37B
−5.6% YoY
Total debt
—
—
Valuation
At current price- Market Cap
- $23.0B
- P/E
- 12.8×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 1.4×
- Price / Book
- 1.8×
- EV / EBITDA
- —. (Market cap + debt − cash) / EBITDA (TTM)
Growth
Trailing 12 months- Revenue (TTM)
- $16.0B
- Revenue Growth YoY
- −9.3%
- Revenue CAGR 3Y
- 2.7%
- Revenue CAGR 5Y
- 9.4%
- EPS Growth YoY
- −27.8%
- Net Income Growth YoY
- −31.7%
Profitability
Trailing 12 months- Gross Margin
- —
- Operating Margin
- —
- Net Margin
- 11.2%
- FCF Margin
- 8.1%
- Return on Equity
- 13.9%
Earnings
Trailing 12 months- Net Income
- $1.80B
- EPS (diluted)
- $9.36
- EBITDA
- —. Operating income + depreciation & amortization
- Operating Income
- —
Balance Sheet
As of Sep 30, 2026- Cash and cash equivalents
- $1.37B
- Total Debt
- —. Short- and long-term borrowings, excluding leases
- Net Cash
- —. Cash − total debt
- Total Assets
- $18.5B
- Total Liabilities
- $5.39B
- Shareholders' Equity
- $13.1B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $1.41B
- Capital Expenditure
- $110M
- Free Cash Flow
- $1.30B
Dividends and risk
Last 12 months- Dividend Yield
- 0.8%
- Dividend / Share
- $1.04
- Beta (5Y)
- 1.15
Every ratio is calculated from the company’s reported figures.
Watch
Revenue fell 9.3% over the last year, to $16.0B.
Note
Net margin of 11.2% over the last 12 months.
Note
Free cash flow of $1.30B, 8.1% of revenue.
Strength
Share count is down 5.6% in a year, from buybacks.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-Q for the quarter ended Sep 30, 2026 · filed Oct 22, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2025 · 10-K47Some concerns
47Some concerns
10-K for the fiscal year ended Dec 31, 2025
Filed Feb 4, 2026 · Read the filing on EDGAR
- Net income fell 28% to $2.22 billion and homebuilding revenue fell 3%, as closings dropped 5% amid weaker demand from buyers facing affordability problems.
- Home sale gross margin fell to 26.3% from 28.9%, sliding every quarter to 24.7% by year-end because of higher incentives and land costs.
- Net new orders fell 4% and backlog dollars fell 19%, with Texas and the West weakest, which points to a lower starting position for 2026.
- Insurance reserve reversals, a large profit boost in 2024, shrank to $42.3 million from $333.9 million, while land-related charges rose to $126.9 million from $34.6 million.
Business momentum
Weakening
“Home sale revenues for 2025 were lower than 2024 by $575.0 million, or 3%.”
Outlook
Cautious
“While we expect to continue to generate healthy gross margins, they may decline somewhat in future periods as a result of these factors.”
Financial stress
Low
“At December 31, 2025, we had unrestricted cash and equivalents of $2.0 billion, restricted cash balances of $27.9 million, and $892.9 million available under our Revolving Credit Facility (as defined below).”
Tone against the previous report
More negative
Red flags
- Minor
Large write-down
“which resulted in $77.4 million of land inventory impairments in 2025”
Positives
Operating cash flow rose despite lower profit
“Net cash provided by operating activities in 2025 was $1.9 billion, compared with net cash provided by operating activities of $1.7 billion in 2024.”
Dividend raised 18% alongside continued share buybacks
“an 18% increase in our dividends from $0.22 to $0.26 per share effective with our January 2026 dividend payment”
Bank credit line extended to 2031 and enlarged
“Effective February 4, 2026, we amended and restated the Revolving Credit Facility to (i) extend the maturity date to February 4, 2031, (ii) increase total committed capacity to $1.75 billion”
Concerns
Profit margin on homes fell every quarter of the year
“Additionally, gross margin from home sales decreased each quarter in 2025, from 27.5% in the first quarter of 2025 to 24.7% in the fourth quarter of 2025.”
Smaller order backlog heading into 2026
“Ending backlog dollars, which represents orders for homes that have not yet closed, decreased 19% in 2025 compared with 2024 due to the aforementioned lower order volume.”
Incentives expected to stay high as buyers struggle with affordability
“In response, we expect our sales incentives to remain elevated and for our pace of house starts to remain dynamic.”
New risks since the previous report
Too many finished unsold homes, which the company is discounting to clear
“the level of completed spec inventory remains elevated for the current demand environment”
Rising home insurance costs and shrinking coverage could hurt affordability and demand
“continued increases in insurance costs, further limitations on coverage availability, or insufficient insurance coverage for business interruptions or losses could adversely affect home affordability, demand, and our operating results in the future”
New company-wide accounting and operations software could disrupt financial reporting
“If we are unable to adequately implement and maintain procedures and controls relating to our new ERP systems, our ability to produce timely and accurate financial statements or comply with applicable regulations could be impaired”
Biggest risks named
- Elevated mortgage rates and weak affordability reducing demand
- Housing downturn lowering prices, revenue and profit
- Land write-downs and lost option deposits if the market weakens further
- Sales incentives and land, labor and tariff costs squeezing margins
- Construction defect and warranty claims exceeding reserves
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | −6 | |
| Outlook | −2 | |
| Tone against the previous report | −2 | |
| Financial stress | 0 | |
| Red flags | −1.5 | |
| New risks | −1.5 | |
| Score | 47 | |
Written by AI (Claude Opus 5.5) from the report’s text. 13 of 13 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-Q | Oct 22, 2026 | Pro | |||
| 10-K | Feb 4, 2026 | 47 | Weakening | 1 minor | |
| 10-K | Feb 6, 2025 | 63 | Improving | None | |
| 10-K | Feb 5, 2024 | 64 | Stable | None | |
| 10-K | Feb 6, 2023 | 65 | Strong improvement | 1 minor | |
| 10-K | Feb 7, 2022 | 74 | Strong improvement | None | |
| 10-K | Feb 2, 2021 | 74 | Strong improvement | 1 minor | |
| 10-K | Jan 30, 2020 | 64 | Stable | None | |
| 10-K | Jan 31, 2019 | 66 | Strong improvement | None | |
| 10-K | Feb 7, 2018 | 53 | Mixed | 2 medium |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q3 FY2026 (period ended Sep 30, 2026), filed Oct 22, 2026. View filings on SEC EDGAR