A Business at a Glance
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ITEM I. BUSINESS PulteGroup, Inc. is a Michigan corporation organized in 1956, though we date our founding to 1950, when our founder, Bill Pulte, built our first home. Over our history, we have delivered over 875,000 homes. We are one of the largest homebuilders in the United States ("U.S."), and our common shares are included in the S&P 500 Index and trade on the New York Stock Exchange under the ticker symbol "PHM". Unless the context otherwise requires, the terms "PulteGroup", the "Company", "we", "us", and "our" used herein refer to PulteGroup, Inc. and its subsidiaries. While our subsidiaries engage primarily in the homebuilding business, we also have financial services businesses, which include mortgage banking, title, and insurance agency operations, through Pulte Mortgage LLC ("Pulte Mortgage") and other subsidiaries.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 17.3B | 17.3B | 17.9B | 16.1B | 16.0B | 13.9B |
| Net Income | 2.2B | 2.2B | 3.1B | 2.6B | 2.6B | 1.9B |
| EPS | $11.12 | $11.12 | $14.69 | $11.72 | $11.01 | $7.43 |
| Free Cash Flow | 1.7B | 1.7B | 1.6B | 2.1B | 556M | 931M |
| ROIC | 17.7% | 21.1% | 29.5% | 29.9% | 29.6% | 30.3% |
| Gross Margin | 27.8% | 27.8% | 30.3% | 30.5% | 31.3% | 28.4% |
| Debt/Equity | 0.13 | 0.13 | 0.13 | 0.19 | 0.23 | 0.35 |
| Dividends/Share | $0.89 | $0.92 | $0.82 | $0.68 | $0.61 | $0.57 |
| Operating Income | 2.9B | 2.9B | 4.0B | 3.5B | 3.4B | 2.6B |
| Operating Margin | 16.9% | 16.9% | 22.5% | 21.5% | 21.5% | 18.5% |
| ROE | 17.1% | 17.7% | 25.4% | 25.1% | 29.4% | 26.0% |
| Shares Outstanding | 200M | 200M | 210M | 222M | 238M | 262M |
PULTEGROUP INC/MI/ passes 7 of 9 quality checks, indicating strong fundamentals.
PULTEGROUP INC/MI/ trades at 10.9x trailing earnings, compared to its 15-year median P/E of 8.4x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 13.4x vs a median of 13.6x. The company's 5-year average ROIC is 28.1% with a gross margin of 29.7%. Total shareholder yield (dividends + buybacks) is 5.7%. At current prices, the estimated annualized return to fair value is +12.1%.
PULTEGROUP INC/MI/ (PHM) has a current P/E ratio of 10.9, compared to its historical median P/E of 8.4. The stock is currently considered Fair based on its historical valuation range.
PULTEGROUP INC/MI/ (PHM) has a 5-year average return on invested capital (ROIC) of 28.1%. This indicates strong capital allocation and a potential competitive advantage.
PULTEGROUP INC/MI/ (PHM) has a market capitalization of $24.3B. It is classified as a large-cap stock.
Yes, PULTEGROUP INC/MI/ (PHM) pays a dividend with a trailing twelve-month yield of 0.73%. The company also returns capital through share buybacks, with a buyback yield of 4.94%.
Based on historical P/E analysis, PULTEGROUP INC/MI/ (PHM) appears fair. The current P/E of 10.9 is 30% above its historical median of 8.4. The estimated fair value CAGR (P/E method) is 27.2%.
PULTEGROUP INC/MI/ (PHM) operates in the Operative Builders industry, within the Industrials sector.
PULTEGROUP INC/MI/ (PHM) reported annual revenue of $17.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
PULTEGROUP INC/MI/ (PHM) has a net profit margin of 12.8%. This is a healthy margin.
PULTEGROUP INC/MI/ (PHM) generated $1.7 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
PULTEGROUP INC/MI/ (PHM) has a debt-to-equity ratio of 0.13. This indicates a conservatively financed balance sheet.
PULTEGROUP INC/MI/ (PHM) reported earnings per share (EPS) of $11.12 in its most recent fiscal year.
PULTEGROUP INC/MI/ (PHM) has a return on equity (ROE) of 17.7%. This indicates the company generates strong returns for shareholders.
PULTEGROUP INC/MI/ (PHM) has a 5-year average gross margin of 29.7%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 18 years of financial data for PULTEGROUP INC/MI/ (PHM), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
PULTEGROUP INC/MI/ (PHM) has a book value per share of $65.08, based on its most recent annual SEC filing.
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