PulteGroup (PHM) Financials

$128.45 -1.51 (-1.16%)

As of 03:11 PM Eastern

Annual Income Statements for PulteGroup

This table shows PulteGroup's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	474	494	603	447	1,022	1,017	1,407	1,946	2,567	2,602	3,039
Consolidated Net Income / (Loss)	474	494	603	447	1,022	1,017	1,407	1,946	2,617	2,602	3,083
Net Income / (Loss) Continuing Operations	474	494	603	447	1,022	1,017	1,407	1,946	2,567	2,602	3,039
Total Pre-Tax Income	690	816	934	939	1,348	1,340	1,729	2,510	3,440	3,449	4,006
Total Operating Income	716	833	991	971	1,361	1,353	1,747	2,574	3,453	3,407	3,900
Total Gross Profit	1,578	1,628	1,948	1,863	2,373	2,397	2,954	3,951	5,015	4,907	5,445
Total Revenue	5,822	5,982	7,677	8,578	10,188	10,213	11,036	13,737	16,003	16,062	17,947
Operating Revenue	5,822	5,982	7,677	8,578	10,188	10,213	11,036	13,737	16,003	16,062	17,947
Total Cost of Revenue	4,244	4,354	5,729	6,715	7,815	7,816	8,082	9,786	10,988	11,155	12,502
Operating Cost of Revenue	4,244	4,354	5,729	6,715	7,815	7,816	8,082	9,786	10,988	11,155	12,502
Total Operating Expenses	861	795	957	892	1,012	1,044	1,207	1,377	1,562	1,500	1,545
Selling, General & Admin Expense	861	795	957	892	1,012	1,044	1,011	1,209	1,381	1,313	1,321
Other Operating Expenses / (Income)	-	-	-	-	-	-	175	168	181	187	224
Total Other Income / (Expense), net	-27	-17	-57	-32	-14	-8.55	-18	-81	-64	38	62
Other Income / (Expense), net	-27	-17	-57	-32	-14	-8.55	-18	-20	-64	38	62
Income Tax Expense	215	322	331	492	326	323	322	564	822	847	923
Basic Earnings per Share	$1.27	$1.38	$1.76	$1.45	$3.56	$3.67	$5.19	$7.44	$11.07	$11.79	$14.82
Weighted Average Basic Shares Outstanding	370.38M	356.58M	339.75M	305.09M	283.58M	274.50M	268.55M	259.29M	235.01M	219.96M	208.11M
Diluted Earnings per Share	$1.26	$1.36	$1.75	$1.44	$3.55	$3.66	$5.18	$7.43	$11.01	$11.72	$14.69
Weighted Average Diluted Shares Outstanding	374.10M	359.79M	342.12M	306.81M	284.87M	275.30M	269.41M	259.93M	236.17M	221.16M	209.83M
Weighted Average Basic & Diluted Shares Outstanding	373.50M	358M	342.40M	308.40M	283.58M	269.98M	265.89M	248.65M	225.60M	212.11M	202.46M
Cash Dividends to Common per Share	$0.23	$0.33	$0.36	$0.36	$0.38	$0.45	$0.50	$0.57	$0.61	$0.68	$0.82

This table shows PulteGroup's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	832	532	720	639	711	663	809	698	869	523	608
Consolidated Net Income / (Loss)	882	532	720	639	711	663	809	698	913	523	608
Net Income / (Loss) Continuing Operations	833	532	720	639	711	663	809	698	869	523	608
Total Pre-Tax Income	1,165	702	953	847	947	869	1,048	906	1,183	681	807
Total Operating Income	1,147	698	938	829	941	814	1,033	894	1,159	674	808
Total Gross Profit	1,546	1,034	1,253	1,182	1,437	1,172	1,394	1,301	1,579	1,068	1,198
Total Revenue	5,079	3,576	4,189	4,004	4,294	3,949	4,600	4,476	4,922	3,893	4,404
Operating Revenue	5,079	3,576	4,189	4,004	4,294	3,949	4,600	4,476	4,922	3,893	4,404
Total Cost of Revenue	3,533	2,541	2,936	2,821	2,857	2,778	3,206	3,175	3,343	2,825	3,206
Operating Cost of Revenue	3,533	2,541	2,936	2,821	2,857	2,778	3,206	3,175	3,343	2,825	3,206
Total Operating Expenses	399	337	315	353	496	358	361	407	420	393	390
Selling, General & Admin Expense	351	337	315	353	308	358	361	407	196	393	390
Total Other Income / (Expense), net	-31	4.33	15	18	0.66	55	15	12	-20	6.86	-0.60
Interest & Investment Income	-	2.51	0.94	0.89	-	38	2.17	2.51	-	0.50	0.41
Other Income / (Expense), net	-31	1.82	14	17	5.37	17	13	9.70	22	6.36	-1.01
Income Tax Expense	282	170	233	209	236	206	239	208	269	158	199
Basic Earnings per Share	$3.79	$2.35	$3.23	$2.92	$3.29	$3.13	$3.86	$3.38	$4.45	$2.59	$3.05
Weighted Average Basic Shares Outstanding	235.01M	225.13M	222.16M	218.29M	219.96M	211.84M	209.55M	206.77M	208.11M	202.06M	199.24M
Diluted Earnings per Share	$3.76	$2.35	$3.21	$2.90	$3.26	$3.10	$3.83	$3.35	$4.41	$2.57	$3.03
Weighted Average Diluted Shares Outstanding	236.17M	225.96M	223.39M	219.68M	221.16M	213.55M	211.20M	208.46M	209.83M	203.66M	200.68M
Weighted Average Basic & Diluted Shares Outstanding	225.60M	225.96M	223.39M	219.68M	212.11M	210.34M	207.52M	205.08M	202.46M	200.43M	197.30M
Cash Dividends to Common per Share	$0.16	$0.16	$0.16	$0.16	$0.20	$0.20	$0.20	$0.20	$0.22	$0.22	$0.22

This table details how cash moves in and out of PulteGroup's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-344	-534	-52	-417	828	118	1,381	-799	-739	755	-195
Net Cash From Operating Activities	308	-338	68	663	1,448	1,076	1,784	1,004	668	2,197	1,681
Net Cash From Continuing Operating Activities	308	-338	68	663	1,448	1,076	1,784	1,004	668	2,197	1,681
Net Income / (Loss) Continuing Operations	474	494	603	447	1,022	1,017	1,407	1,946	2,617	2,602	3,083
Consolidated Net Income / (Loss)	474	494	603	447	1,022	1,017	1,407	1,946	2,617	2,602	3,083
Depreciation Expense	40	46	54	51	49	54	66	70	71	81	89
Non-Cash Adjustments To Reconcile Net Income	46	31	44	224	124	62	72	97	110	90	34
Changes in Operating Assets and Liabilities, net	-253	-909	-632	-59	253	-56	239	-1,109	-2,129	-576	-1,526
Net Cash From Investing Activities	-123	-35	-471	-50	-40	-225	-108	-124	-172	-129	-94
Net Cash From Continuing Investing Activities	-123	-35	-471	-50	-40	-225	-108	-124	-172	-129	-94
Purchase of Property, Plant & Equipment	-49	-45	-39	-32	-59	-58	-58	-73	-113	-92	-119
Acquisitions	-82	-0.45	-445	-23	-1.00	-173	-84	-112	-75	-23	-16
Sale and/or Maturity of Investments	-	-	-	-	11	0.21	28	54	22	3.27	9.18
Other Investing Activities, net	8.61	11	13	4.85	8.29	6.46	6.47	6.71	-5.69	-17	31
Net Cash From Financing Activities	-529	-162	351	-1,030	-580	-734	-296	-1,679	-1,236	-1,313	-1,782
Net Cash From Continuing Financing Activities	-529	-162	351	-1,030	-580	-734	-296	-1,679	-1,236	-1,313	-1,782
Repayment of Debt	-251	-237	-1,542	-2,855	-1,657	-332	-680	-623	-2,924	-212	-330
Repurchase of Preferred Equity	-	-	-	-	-	-	-	-	0.00	0.00	-9.69
Repurchase of Common Equity	-253	-443	-603	-910	-295	-274	-171	-897	-1,075	-1,000	-1,200
Payment of Dividends	-76	-116	-125	-113	-104	-122	-130	-148	-144	-142	-168
Issuance of Debt	35	623	2,615	2,826	1,566	0.00	700	0.00	2,869	0.00	0.00
Other Financing Activities, net	-	-	-	-6.00	-97	-11	-15	-11	38	41	-74
Cash Interest Paid	-4.56	-4.19	-27	-	-	5.61	3.06	11	1.80	11	26
Cash Income Taxes Paid	1.03	-5.65	2.74	15	89	137	264	457	642	784	740

This table details how cash moves in and out of PulteGroup's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Change in Cash & Equivalents	803	232	451	122	-50	-83	-320	9.17	199	-378	-8.56
Net Cash From Operating Activities	972	711	739	458	288	240	417	456	568	134	288
Net Cash From Continuing Operating Activities	972	711	739	458	288	240	417	456	568	134	288
Net Income / (Loss) Continuing Operations	882	532	720	639	711	663	809	698	913	523	608
Consolidated Net Income / (Loss)	882	532	720	639	711	663	809	698	913	523	608
Depreciation Expense	19	19	20	21	21	21	22	22	24	25	25
Non-Cash Adjustments To Reconcile Net Income	38	19	20	16	35	-16	16	20	15	43	32
Changes in Operating Assets and Liabilities, net	33	141	-21	-217	-479	-428	-429	-284	-385	-456	-378
Net Cash From Investing Activities	-17	-24	-30	-41	-34	-27	-39	-42	14	-40	0.55
Net Cash From Continuing Investing Activities	-17	-24	-30	-41	-34	-27	-39	-42	14	-40	0.55
Purchase of Property, Plant & Equipment	-24	-24	-21	-22	-25	-24	-31	-39	-24	-30	-35
Acquisitions	-6.55	-1.12	-6.74	-10	-5.34	-3.96	-5.14	-6.01	-0.93	-6.68	-1.28
Sale and/or Maturity of Investments	18	2.22	-	0.10	0.95	3.40	0.08	5.54	0.16	0.00	39
Other Investing Activities, net	-4.72	-1.57	-1.71	-8.45	-5.03	-2.26	-3.01	-2.94	39	-3.45	-3.06
Net Cash From Financing Activities	-152	-455	-259	-295	-305	-296	-698	-405	-383	-472	-297
Net Cash From Continuing Financing Activities	-152	-455	-259	-295	-305	-296	-698	-405	-383	-472	-297
Repayment of Debt	-1,014	-267	-22	39	38	24	-317	-32	-4.09	-103	65
Repurchase of Common Equity	-100	-150	-250	-300	-300	-246	-314	-320	-320	-300	-300
Payment of Dividends	-35	-36	-36	-35	-35	-43	-42	-42	-41	-46	-44
Other Financing Activities, net	53	-1.71	49	1.53	-7.56	-31	-24	-11	-8.01	-24	-5.84
Cash Interest Paid	-3.85	6.21	-3.45	8.29	-0.26	7.25	5.96	6.93	5.91	3.34	4.75
Cash Income Taxes Paid	148	0.21	380	166	238	1.02	364	181	193	70	323

This table presents PulteGroup's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	8,569	9,189	10,178	9,687	10,173	10,716	12,205	13,353	14,797	16,087	17,364
Total Current Assets	5,803	6,307	7,526	7,522	8,424	8,956	10,382	10,881	12,421	13,645	14,347
Cash & Equivalents	1,293	754	699	273	1,110	1,218	2,582	1,779	1,053	1,807	1,613
Restricted Cash	16	21	24	33	24	34	50	54	41	43	40
Inventories, net	4,493	5,532	6,802	7,216	7,290	7,705	7,750	9,048	11,326	11,795	12,693
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	2,767	2,882	2,653	2,165	1,749	1,760	1,824	2,471	2,376	2,443	3,017
Long-Term Investments	40	41	51	63	55	60	36	98	147	167	215
Noncurrent Note & Lease Receivables	340	443	539	571	461	509	565	947	677	516	630
Goodwill	-	-	-	-	-	-	-	-	69	69	69
Intangible Assets	123	110	155	141	127	125	163	147	67	56	46
Noncurrent Deferred & Refundable Income Taxes	1,721	1,395	1,049	645	276	170	136	139	82	65	55
Other Noncurrent Operating Assets	543	893	857	745	830	896	923	1,140	1,334	1,569	2,002
Total Liabilities & Shareholders' Equity	8,569	9,189	10,178	9,687	10,173	10,716	12,205	13,353	14,797	16,087	17,364
Total Liabilities	3,764	4,430	5,519	5,533	5,355	5,257	5,636	5,863	5,882	5,704	5,242
Total Current Liabilities	1,806	2,088	2,058	2,088	1,979	1,871	2,368	2,198	2,251	2,265	3,096
Accounts Payable	271	328	405	394	352	436	511	621	566	619	728
Accrued Expenses	1,344	1,517	1,430	1,356	1,360	1,435	1,407	1,576	1,685	1,646	1,412
Customer Deposits	143	186	188	251	255	-	449	-	-	-	513
Current Deferred & Payable Income Tax Liabilities	49	57	35	87	12	-	-	-	-	-	444
Total Noncurrent Liabilities	1,959	2,342	3,461	3,445	3,376	3,386	3,268	3,665	3,631	3,439	2,145
Long-Term Debt	1,959	2,342	3,461	3,445	3,376	3,092	3,164	2,029	2,046	1,962	1,619
Other Noncurrent Operating Liabilities	-	-	-	-	-	-	-	626	587	500	527
Total Equity & Noncontrolling Interests	4,805	4,759	4,659	4,154	4,818	5,458	6,570	7,490	8,914	10,383	12,122
Total Preferred & Common Equity	4,805	4,759	4,659	4,154	4,818	5,458	6,570	7,490	8,914	10,383	12,122
Total Common Equity	4,805	4,759	4,659	4,154	4,818	5,458	6,570	7,490	8,914	10,383	12,122
Common Stock	3,077	3,097	3,120	3,174	3,204	3,238	3,264	3,293	3,332	3,371	12,122

This table presents PulteGroup's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Total Assets	14,797	14,831	15,226	15,717	16,087	16,496	16,544	16,955	17,364	17,337	17,588
Total Current Assets	12,421	12,807	13,113	13,485	13,645	13,873	13,770	14,122	14,319	14,235	14,483
Cash & Equivalents	1,053	1,278	1,729	1,848	1,807	1,720	1,393	1,398	1,613	1,236	1,234
Restricted Cash	41	49	49	51	43	47	53	57	40	40	33
Inventories, net	11,326	11,480	11,335	11,585	11,795	12,107	12,324	12,667	12,666	12,959	13,216
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	2,376	2,024	2,113	2,232	2,443	2,623	2,774	2,833	3,044	3,101	3,104
Long-Term Investments	147	145	151	162	167	204	210	213	215	221	182
Noncurrent Note & Lease Receivables	677	421	432	414	516	571	569	557	630	643	582
Goodwill	69	69	69	69	69	69	69	69	69	69	69
Intangible Assets	67	64	62	59	56	54	51	49	46	44	42
Noncurrent Deferred & Refundable Income Taxes	82	79	69	66	65	62	54	48	55	53	52
Other Noncurrent Operating Assets	1,334	1,246	1,330	1,462	1,569	1,663	1,820	1,898	2,029	2,072	2,179
Total Liabilities & Shareholders' Equity	14,797	14,831	15,226	15,717	16,087	16,496	16,544	16,955	17,364	17,337	17,588
Total Liabilities	5,882	5,567	5,521	5,705	5,704	5,734	5,321	5,391	5,242	5,036	5,013
Total Current Liabilities	2,251	3,201	2,375	2,528	2,265	2,544	2,493	2,645	2,140	2,442	2,891
Accounts Payable	566	489	543	568	619	575	652	705	728	682	713
Accrued Expenses	1,685	1,675	1,536	1,629	1,646	1,632	1,460	1,539	1,412	1,297	1,198
Customer Deposits	-	796	-	-	-	-	-	-	-	-	521
Current Deferred & Payable Income Tax Liabilities	-	241	295	331	-	337	381	401	-	462	460
Total Noncurrent Liabilities	3,631	2,366	3,146	3,177	3,439	3,190	2,829	2,746	3,102	2,594	2,121
Long-Term Debt	2,046	2,042	2,033	1,981	1,962	1,957	1,650	1,624	1,619	1,626	1,623
Other Noncurrent Operating Liabilities	587	324	316	425	500	534	524	524	527	427	498
Total Equity & Noncontrolling Interests	8,914	9,264	9,705	10,013	10,383	10,762	11,223	11,564	12,122	12,301	12,575
Total Preferred & Common Equity	8,914	9,264	9,705	10,013	10,383	10,762	11,223	11,564	12,122	12,301	12,575
Total Common Equity	8,914	9,264	9,705	10,013	10,383	10,762	11,223	11,564	12,122	12,301	12,575
Common Stock	3,332	9,264	9,705	10,013	3,371	10,762	11,223	11,564	3,427	12,301	12,575

This table displays calculated financial ratios and metrics derived from PulteGroup's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.51%	2.74%	28.33%	11.74%	18.78%	0.24%	8.06%	24.47%	16.50%	0.37%	11.74%
EBITDA Growth	30.43%	18.18%	14.57%	0.20%	41.13%	0.11%	28.34%	46.21%	31.85%	1.90%	14.90%
EBIT Growth	30.68%	18.31%	14.44%	0.53%	43.53%	-0.23%	28.57%	47.75%	32.68%	1.65%	15.01%
NOPAT Growth	-83.56%	2.41%	26.71%	-27.64%	123.18%	-0.54%	38.41%	40.42%	31.66%	-2.18%	16.78%
Net Income Growth	-81.90%	4.16%	21.98%	-25.80%	128.53%	-0.52%	38.37%	38.35%	34.48%	-0.57%	18.48%
EPS Growth	-81.25%	7.94%	28.68%	-17.71%	146.53%	3.10%	41.53%	43.44%	48.18%	6.45%	25.34%
Operating Cash Flow Growth	-65.06%	-209.65%	120.22%	871.26%	118.42%	-25.70%	65.83%	-43.73%	-33.42%	228.63%	-23.49%
Free Cash Flow Firm Growth	-83.48%	-289.79%	-15.00%	237.37%	117.13%	-36.77%	100.62%	-7.42%	-66.36%	294.80%	-25.50%
Invested Capital Growth	5.86%	16.08%	16.87%	-1.58%	-3.09%	3.32%	-2.38%	7.37%	28.09%	6.29%	14.93%
Revenue Q/Q Growth	2.96%	4.16%	6.07%	3.55%	2.05%	0.17%	2.13%	7.19%	6.03%	-4.66%	3.63%
EBITDA Q/Q Growth	6.49%	12.74%	4.41%	-0.65%	-5.34%	8.74%	5.36%	13.38%	8.77%	-4.52%	6.25%
EBIT Q/Q Growth	6.47%	13.32%	4.52%	-0.53%	-5.56%	9.03%	5.33%	13.83%	8.89%	-4.67%	6.31%
NOPAT Q/Q Growth	0.88%	-0.48%	10.22%	-31.18%	18.92%	10.31%	8.19%	11.87%	8.70%	-5.95%	6.68%
Net Income Q/Q Growth	-0.62%	2.26%	8.10%	-30.45%	18.59%	10.69%	7.84%	13.08%	9.13%	-6.17%	7.02%
EPS Q/Q Growth	3.28%	3.03%	10.76%	-27.27%	19.13%	11.93%	8.14%	15.02%	12.00%	-4.09%	8.49%
Operating Cash Flow Q/Q Growth	-41.69%	-143.13%	117.10%	5.71%	1.59%	5.90%	1.39%	-5.81%	340.15%	-23.74%	19.92%
Free Cash Flow Firm Q/Q Growth	-42.91%	-156.79%	52.48%	-12.05%	10.31%	4.73%	3.08%	62.67%	51.33%	-31.96%	19.05%
Invested Capital Q/Q Growth	1.92%	5.42%	-1.11%	-2.86%	-2.31%	-1.44%	-0.64%	-5.04%	-3.58%	4.00%	3.05%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	27.10%	27.22%	25.37%	21.72%	23.30%	23.47%	26.76%	28.76%	31.34%	30.55%	30.34%
EBITDA Margin	12.53%	14.41%	12.87%	11.54%	13.71%	13.69%	16.26%	19.10%	21.62%	21.95%	22.57%
Operating Margin	12.31%	13.93%	12.91%	11.32%	13.36%	13.25%	15.83%	18.74%	21.58%	21.21%	21.73%
EBIT Margin	11.85%	13.64%	12.17%	10.95%	13.23%	13.16%	15.66%	18.59%	21.18%	21.45%	22.07%
Profit (Net Income) Margin	8.15%	8.26%	7.85%	5.21%	10.03%	9.96%	12.75%	14.17%	16.36%	16.20%	17.18%
Tax Burden Percent	68.77%	60.55%	64.54%	47.64%	75.84%	75.90%	81.38%	77.55%	76.09%	75.45%	76.97%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	99.63%	100.00%	98.27%	101.50%	100.13%	101.12%
Effective Tax Rate	31.23%	39.45%	35.46%	52.36%	24.16%	24.10%	18.62%	22.45%	23.91%	24.55%	23.03%
Return on Invested Capital (ROIC)	9.36%	8.63%	9.38%	6.35%	14.51%	14.42%	19.87%	27.24%	30.37%	25.64%	27.04%
ROIC Less NNEP Spread (ROIC-NNEP)	5.94%	7.64%	7.64%	5.81%	14.11%	13.90%	18.60%	10.55%	28.05%	34.17%	-26.54%
Return on Net Nonoperating Assets (RNNOA)	0.68%	1.71%	3.42%	3.80%	8.28%	5.37%	3.52%	0.45%	1.54%	1.33%	0.36%
Return on Equity (ROE)	10.03%	10.33%	12.80%	10.15%	22.78%	19.79%	23.39%	27.69%	31.91%	26.97%	27.40%
Cash Return on Invested Capital (CROIC)	3.67%	-6.26%	-6.18%	7.94%	17.65%	11.15%	22.28%	20.14%	5.74%	19.55%	13.15%
Operating Return on Assets (OROA)	7.97%	9.19%	9.64%	9.45%	13.57%	12.87%	15.08%	19.99%	24.08%	22.31%	23.69%
Return on Assets (ROA)	5.48%	5.56%	6.22%	4.50%	10.29%	9.73%	12.28%	15.23%	18.60%	16.85%	18.43%
Return on Common Equity (ROCE)	10.03%	10.33%	12.80%	10.15%	22.78%	19.79%	23.39%	27.69%	31.91%	26.97%	27.40%
Return on Equity Simple (ROE_SIMPLE)	9.87%	10.38%	12.94%	10.77%	21.21%	18.63%	21.41%	25.99%	29.36%	25.06%	25.44%
Net Operating Profit after Tax (NOPAT)	493	505	639	463	1,033	1,027	1,421	1,996	2,628	2,570	3,002
NOPAT Margin	8.46%	8.44%	8.33%	5.39%	10.13%	10.06%	12.88%	14.53%	16.42%	16.00%	16.73%
Net Nonoperating Expense Percent (NNEP)	3.42%	0.98%	1.74%	0.54%	0.40%	0.52%	1.27%	16.69%	2.32%	-8.53%	53.58%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	23.98%	20.82%	21.85%
Cost of Revenue to Revenue	72.90%	72.78%	74.63%	78.28%	76.70%	76.53%	73.24%	71.24%	68.66%	69.45%	69.66%
SG&A Expenses to Revenue	14.79%	13.29%	12.47%	10.39%	9.93%	10.23%	9.16%	8.80%	8.63%	8.17%	7.36%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	14.79%	13.29%	12.47%	10.39%	9.93%	10.23%	10.94%	10.03%	9.76%	9.34%	8.61%
Earnings before Interest and Taxes (EBIT)	690	816	934	939	1,348	1,345	1,729	2,554	3,389	3,445	3,962
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	730	862	988	990	1,397	1,399	1,795	2,624	3,460	3,526	4,051
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.46	1.17	1.19	2.18	1.42	1.83	1.69	1.88	1.15	2.13	1.84
Price to Tangible Book Value (P/TBV)	1.50	1.20	1.23	2.25	1.46	1.88	1.74	1.92	1.16	2.15	1.86
Price to Revenue (P/Rev)	1.20	0.93	0.72	1.05	0.67	0.98	1.01	1.03	0.64	1.38	1.24
Price to Earnings (P/E)	14.77	11.28	9.21	20.23	6.70	9.84	7.91	7.24	3.98	8.49	7.35
Dividend Yield	1.22%	2.07%	2.15%	1.17%	1.56%	1.22%	1.20%	1.02%	1.36%	0.66%	0.75%
Earnings Yield	6.77%	8.87%	10.86%	4.94%	14.92%	10.17%	12.64%	13.81%	25.14%	11.77%	13.61%
Enterprise Value to Invested Capital (EV/IC)	1.41	1.13	1.12	1.68	1.29	1.63	1.65	1.87	1.13	2.13	1.86
Enterprise Value to Revenue (EV/Rev)	1.31	1.19	1.07	1.41	0.89	1.15	1.05	1.03	0.69	1.37	1.23
Enterprise Value to EBITDA (EV/EBITDA)	10.44	8.23	8.34	12.25	6.47	8.42	6.48	5.41	3.18	6.25	5.45
Enterprise Value to EBIT (EV/EBIT)	11.04	8.70	8.82	12.91	6.71	8.76	6.73	5.56	3.25	6.40	5.57
Enterprise Value to NOPAT (EV/NOPAT)	15.46	14.06	12.88	26.20	8.75	11.47	8.18	7.11	4.19	8.58	7.36
Enterprise Value to Operating Cash Flow (EV/OCF)	24.73	0.00	120.62	18.28	6.24	10.95	6.52	14.13	16.48	10.04	13.14
Enterprise Value to Free Cash Flow (EV/FCFF)	39.46	0.00	0.00	20.95	7.19	14.83	7.30	9.62	22.19	11.25	15.13
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.41	0.49	0.74	0.83	0.70	0.57	0.48	0.27	0.23	0.19	0.13
Long-Term Debt to Equity	0.41	0.49	0.74	0.83	0.70	0.57	0.48	0.27	0.23	0.19	0.13
Financial Leverage	0.11	0.22	0.45	0.65	0.59	0.39	0.19	0.04	0.06	0.04	-0.01
Leverage Ratio	1.83	1.86	2.06	2.25	2.21	2.03	1.91	1.82	1.72	1.60	1.49
Compound Leverage Factor	1.83	1.86	2.06	2.25	2.21	2.03	1.91	1.79	1.74	1.60	1.50
Debt to Total Capital	28.96%	32.98%	42.62%	45.33%	41.21%	36.16%	32.51%	21.32%	18.66%	15.89%	11.78%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	28.96%	32.98%	42.62%	45.33%	41.21%	36.16%	32.51%	21.32%	18.66%	15.89%	11.78%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	71.04%	67.02%	57.38%	54.67%	58.79%	63.84%	67.49%	78.68%	81.34%	84.11%	88.22%
Debt to EBITDA	2.68	2.72	3.50	3.48	2.42	2.21	1.76	0.77	0.59	0.56	0.40
Net Debt to EBITDA	0.84	1.77	2.72	3.11	1.57	1.27	0.28	0.04	0.23	-0.02	-0.06
Long-Term Debt to EBITDA	2.68	2.72	3.50	3.48	2.42	2.21	1.76	0.77	0.59	0.56	0.40
Debt to NOPAT	3.98	4.64	5.41	7.45	3.27	3.01	2.23	1.02	0.78	0.76	0.54
Net Debt to NOPAT	1.24	3.02	4.20	6.65	2.12	1.73	0.35	0.05	0.31	-0.02	-0.08
Long-Term Debt to NOPAT	3.98	4.64	5.41	7.45	3.27	3.01	2.23	1.02	0.78	0.76	0.54
Altman Z-Score	2.90	2.50	2.52	3.00	3.19	3.59	3.72	4.32	4.23	5.49	5.89
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.21	3.02	3.66	3.60	4.26	4.79	4.38	4.95	5.52	6.02	6.69
Quick Ratio	0.72	0.36	0.34	0.13	0.56	0.65	1.09	0.81	0.47	0.80	0.75
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	193	-366	-421	579	1,256	794	1,594	1,475	496	1,959	1,460
Operating Cash Flow to CapEx	631.03%	-742.94%	173.74%	2,068.83%	2,453.09%	1,851.38%	3,057.79%	1,379.51%	593.34%	2,382.58%	1,417.85%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	24.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	16.33	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	15.15	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.67	0.67	0.79	0.86	1.03	0.98	0.96	1.08	1.14	1.04	1.07
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.99	0.87	0.93	0.96	1.08	1.04	1.05	1.17	1.08	0.96	1.02
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	17.94	14.56	15.63	16.80	20.96	19.84	17.07	17.28	18.51	18.83	18.56
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	367.95	420.21	392.93	380.98	338.75	350.14	348.96	313.25	338.39	378.28	357.09
Days Payable Outstanding (DPO)	20.35	25.08	23.36	21.72	17.42	18.40	21.39	21.12	19.72	19.39	19.66
Cash Conversion Cycle (CCC)	347.60	395.13	369.57	359.26	321.33	331.74	327.57	292.13	318.67	358.89	337.42
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	5,414	6,285	7,346	7,230	7,006	7,239	7,066	7,587	9,718	10,329	11,871
Invested Capital Turnover	1.11	1.02	1.13	1.18	1.43	1.43	1.54	1.88	1.85	1.60	1.62
Increase / (Decrease) in Invested Capital	300	871	1,061	-116	-224	233	-172	521	2,131	611	1,542
Enterprise Value (EV)	7,615	7,097	8,235	12,122	9,037	11,780	11,631	14,191	11,014	22,049	22,083
Market Capitalization	7,006	5,571	5,549	9,046	6,849	10,000	11,134	14,094	10,210	22,103	22,333
Book Value per Share	$12.96	$13.63	$14.09	$14.13	$17.15	$20.14	$24.51	$29.58	$39.13	$48.16	$59.11
Tangible Book Value per Share	$12.63	$13.32	$13.62	$13.65	$16.70	$19.68	$23.90	$29.00	$38.53	$47.58	$58.55
Total Capital	6,764	7,102	8,120	7,599	8,194	8,550	9,734	9,519	10,960	12,345	13,741
Total Debt	1,959	2,342	3,461	3,445	3,376	3,092	3,164	2,029	2,046	1,962	1,619
Total Long-Term Debt	1,959	2,342	3,461	3,445	3,376	3,092	3,164	2,029	2,046	1,962	1,619
Net Debt	609	1,526	2,686	3,076	2,188	1,780	496	97	804	-54	-251
Capital Expenditures (CapEx)	49	45	39	32	59	58	58	73	113	92	119
Debt-free, Cash-free Net Working Capital (DFCFNWC)	2,688	3,444	4,744	5,128	5,311	5,833	5,382	6,850	9,075	9,531	10,526
Debt-free Net Working Capital (DFNWC)	3,997	4,219	5,468	5,434	6,445	7,085	8,014	8,683	10,169	11,380	12,179
Net Working Capital (NWC)	3,997	4,219	5,468	5,434	6,445	7,085	8,014	8,683	10,169	11,380	12,179
Net Nonoperating Expense (NNE)	18	11	37	15	11	10	15	50	10	-32	-82
Net Nonoperating Obligations (NNO)	609	1,526	2,686	3,076	2,188	1,780	496	97	804	-54	-251
Total Depreciation and Amortization (D&A)	40	46	54	51	49	54	66	70	71	81	89
Debt-free, Cash-free Net Working Capital to Revenue	46.16%	57.57%	61.80%	59.78%	52.13%	57.12%	48.77%	49.86%	56.71%	59.34%	58.65%
Debt-free Net Working Capital to Revenue	68.65%	70.53%	71.23%	63.35%	63.26%	69.37%	72.62%	63.21%	63.55%	70.85%	67.86%
Net Working Capital to Revenue	68.65%	70.53%	71.23%	63.35%	63.26%	69.37%	72.62%	63.21%	63.55%	70.85%	67.86%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$3.67	$5.19	$7.44	$11.07	$11.79	$14.82
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	0.00	0.00	274.50M	268.55M	259.29M	235.01M	219.96M	208.11M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$3.66	$5.18	$7.43	$11.01	$11.72	$14.69
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	0.00	0.00	275.30M	269.41M	259.93M	236.17M	221.16M	209.83M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$3.67	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	0.00	0.00	269.98M	265.89M	248.65M	225.60M	212.11M	202.46M
Normalized Net Operating Profit after Tax (NOPAT)	493	505	639	680	1,033	1,027	1,438	1,996	2,628	2,570	3,002
Normalized NOPAT Margin	8.46%	8.44%	8.33%	7.93%	10.13%	10.06%	13.03%	14.53%	16.42%	16.00%	16.73%
Pre Tax Income Margin	11.85%	13.64%	12.17%	10.95%	13.23%	13.12%	15.66%	18.27%	21.49%	21.48%	22.32%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	41.55	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	32.47	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	40.37	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	31.29	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	15.95%	23.47%	20.68%	25.21%	10.18%	12.03%	9.25%	7.60%	5.51%	5.47%	5.44%
Augmented Payout Ratio	69.29%	113.08%	120.77%	228.76%	39.00%	39.02%	21.39%	53.70%	46.57%	43.90%	44.36%

This table displays calculated financial ratios and metrics derived from PulteGroup's official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	21.83%	13.53%	7.96%	2.78%	-15.46%	10.45%	9.81%	11.81%	14.63%	-1.43%	-4.26%
EBITDA Growth	32.59%	16.90%	10.34%	4.54%	-14.71%	18.51%	9.86%	6.78%	24.56%	-17.20%	-22.11%
EBIT Growth	33.00%	16.86%	10.21%	4.39%	-15.14%	18.74%	9.88%	6.77%	24.77%	-18.07%	-22.88%
NOPAT Growth	31.96%	15.92%	8.32%	-3.41%	-18.72%	17.46%	12.38%	10.12%	26.62%	-16.70%	-23.61%
Net Income Growth	33.01%	17.05%	10.41%	1.73%	-19.41%	24.56%	12.33%	9.26%	28.45%	-21.14%	-24.80%
EPS Growth	45.74%	28.42%	17.58%	7.81%	-13.30%	31.91%	19.31%	15.52%	35.28%	-17.10%	-20.89%
Operating Cash Flow Growth	113.34%	242.55%	801.86%	212.67%	-70.34%	-66.29%	-43.52%	-0.40%	96.80%	-44.02%	-31.13%
Free Cash Flow Firm Growth	-1,011.80%	-2.96%	121.65%	153.53%	107.59%	62.55%	-358.93%	-216.49%	-775.97%	-296.73%	-51.22%
Invested Capital Growth	28.09%	15.40%	5.07%	-1.46%	6.29%	9.30%	14.35%	15.99%	14.93%	15.64%	13.66%
Revenue Q/Q Growth	30.39%	-29.59%	17.15%	-4.42%	7.25%	-8.02%	16.47%	-2.68%	9.95%	-20.91%	13.13%
EBITDA Q/Q Growth	36.79%	-36.65%	35.25%	-10.82%	11.61%	-11.95%	25.38%	-13.32%	30.19%	-41.48%	17.93%
EBIT Q/Q Growth	37.58%	-37.28%	36.09%	-11.10%	11.84%	-12.21%	25.93%	-13.62%	30.70%	-42.37%	18.53%
NOPAT Q/Q Growth	34.33%	-39.17%	34.10%	-11.86%	13.05%	-12.12%	28.30%	-13.63%	29.99%	-42.17%	17.66%
Net Income Q/Q Growth	40.50%	-39.67%	35.34%	-11.32%	11.31%	-6.75%	22.05%	-13.75%	30.85%	-42.75%	16.39%
EPS Q/Q Growth	39.78%	-37.50%	36.60%	-9.66%	12.41%	-4.91%	23.55%	-12.53%	31.64%	-41.72%	17.90%
Operating Cash Flow Q/Q Growth	339.35%	-26.84%	3.91%	-38.07%	-36.99%	-16.86%	74.10%	9.21%	24.50%	-76.35%	114.19%
Free Cash Flow Firm Q/Q Growth	12.49%	37.92%	130.10%	227.42%	-87.60%	-405.74%	-108.10%	-47.31%	28.04%	-79.85%	20.68%
Invested Capital Q/Q Growth	-3.58%	1.19%	-0.25%	1.25%	4.00%	4.06%	4.36%	2.70%	3.05%	4.70%	2.57%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	30.43%	28.93%	29.92%	29.54%	33.46%	29.67%	30.31%	29.06%	32.08%	27.43%	27.21%
EBITDA Margin	22.34%	20.10%	23.21%	21.66%	22.54%	21.57%	23.22%	20.68%	24.49%	18.12%	18.89%
Operating Margin	22.58%	19.52%	22.40%	20.72%	21.92%	20.61%	22.45%	19.97%	23.55%	17.32%	18.34%
EBIT Margin	21.97%	19.57%	22.73%	21.14%	22.05%	21.04%	22.74%	20.19%	24.00%	17.49%	18.32%
Profit (Net Income) Margin	17.37%	14.89%	17.20%	15.96%	16.56%	16.79%	17.59%	15.59%	18.56%	13.43%	13.82%
Tax Burden Percent	75.73%	75.81%	75.59%	75.39%	75.09%	76.32%	77.18%	77.02%	77.21%	76.75%	75.39%
Interest Burden Percent	104.43%	100.36%	100.10%	100.11%	100.02%	104.56%	100.21%	100.28%	100.14%	100.07%	100.05%
Effective Tax Rate	24.17%	24.19%	24.41%	24.61%	24.91%	23.68%	22.82%	22.98%	22.79%	23.25%	24.61%
Return on Invested Capital (ROIC)	31.67%	26.48%	29.61%	26.29%	26.38%	25.13%	27.77%	24.84%	29.40%	20.52%	20.42%
ROIC Less NNEP Spread (ROIC-NNEP)	34.48%	26.87%	30.91%	27.77%	27.49%	40.09%	52.15%	9.79%	17.39%	29.63%	19.88%
Return on Net Nonoperating Assets (RNNOA)	1.90%	2.70%	3.00%	2.80%	1.07%	1.11%	0.24%	-0.06%	-0.24%	0.15%	0.14%
Return on Equity (ROE)	33.56%	29.19%	32.61%	29.10%	27.45%	26.24%	28.02%	24.78%	29.16%	20.67%	20.56%
Cash Return on Invested Capital (CROIC)	5.74%	15.12%	23.83%	28.78%	19.55%	16.99%	12.78%	11.43%	13.15%	10.50%	9.83%
Operating Return on Assets (OROA)	24.97%	22.96%	26.30%	23.80%	22.93%	22.07%	24.12%	21.40%	25.75%	18.49%	18.99%
Return on Assets (ROA)	19.75%	17.47%	19.90%	17.96%	17.22%	17.61%	18.66%	16.53%	19.91%	14.20%	14.33%
Return on Common Equity (ROCE)	33.56%	29.19%	32.61%	29.10%	27.45%	26.24%	28.02%	24.78%	29.16%	20.67%	20.56%
Return on Equity Simple (ROE_SIMPLE)	0.00%	29.09%	28.47%	27.70%	0.00%	25.40%	25.14%	24.91%	0.00%	23.93%	21.81%
Net Operating Profit after Tax (NOPAT)	870	529	709	625	707	621	797	689	895	518	609
NOPAT Margin	17.12%	14.79%	16.93%	15.62%	16.46%	15.73%	17.33%	15.38%	18.18%	13.30%	13.83%
Net Nonoperating Expense Percent (NNEP)	-2.82%	-0.39%	-1.30%	-1.48%	-1.12%	-14.97%	-24.38%	15.05%	12.01%	-9.11%	0.54%
Return On Investment Capital (ROIC_SIMPLE)	7.93%	-	-	-	5.73%	-	-	-	6.51%	3.72%	4.29%
Cost of Revenue to Revenue	69.57%	71.07%	70.08%	70.46%	66.54%	70.33%	69.69%	70.94%	67.92%	72.57%	72.79%
SG&A Expenses to Revenue	6.91%	9.41%	7.51%	8.82%	7.18%	9.05%	7.85%	9.09%	3.98%	10.10%	8.87%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	7.85%	9.41%	7.51%	8.82%	11.54%	9.05%	7.85%	9.09%	8.53%	10.10%	8.87%
Earnings before Interest and Taxes (EBIT)	1,116	700	952	846	947	831	1,046	904	1,181	681	807
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,135	719	972	867	968	852	1,068	926	1,205	705	832
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.15	1.41	1.77	1.61	2.13	2.41	2.06	2.58	1.84	1.69	1.68
Price to Tangible Book Value (P/TBV)	1.16	1.43	1.80	1.63	2.15	2.44	2.09	2.60	1.86	1.71	1.70
Price to Revenue (P/Rev)	0.64	0.79	1.03	0.96	1.38	1.58	1.37	1.72	1.24	1.16	1.19
Price to Earnings (P/E)	3.98	4.92	6.35	5.93	8.49	9.50	8.21	10.34	7.35	7.18	7.83
Dividend Yield	1.36%	1.07%	0.82%	0.87%	0.66%	0.60%	0.69%	0.56%	0.75%	0.82%	0.82%
Earnings Yield	25.14%	20.31%	15.76%	16.87%	11.77%	10.53%	12.19%	9.67%	13.61%	13.93%	12.77%
Enterprise Value to Invested Capital (EV/IC)	1.13	1.38	1.77	1.62	2.13	2.41	2.06	2.58	1.86	1.68	1.67
Enterprise Value to Revenue (EV/Rev)	0.69	0.83	1.03	0.95	1.37	1.58	1.37	1.72	1.23	1.17	1.20
Enterprise Value to EBITDA (EV/EBITDA)	3.18	3.81	4.74	4.35	6.25	7.09	6.17	7.80	5.45	5.36	5.81
Enterprise Value to EBIT (EV/EBIT)	3.25	3.89	4.84	4.44	6.40	7.26	6.31	7.98	5.57	5.49	5.97
Enterprise Value to NOPAT (EV/NOPAT)	4.19	5.03	6.29	5.88	8.58	9.74	8.42	10.57	7.36	7.23	7.86
Enterprise Value to Operating Cash Flow (EV/OCF)	16.48	11.60	8.59	5.57	10.04	15.04	16.50	21.22	13.14	13.29	14.75
Enterprise Value to Free Cash Flow (EV/FCFF)	22.19	9.79	7.59	5.58	11.25	14.84	17.24	24.26	15.13	17.21	18.09
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.23	0.22	0.21	0.20	0.19	0.18	0.15	0.14	0.13	0.13	0.13
Long-Term Debt to Equity	0.23	0.22	0.21	0.20	0.19	0.18	0.15	0.14	0.13	0.13	0.13
Financial Leverage	0.06	0.10	0.10	0.10	0.04	0.03	0.00	-0.01	-0.01	0.01	0.01
Leverage Ratio	1.72	1.68	1.66	1.65	1.60	1.56	1.52	1.51	1.49	1.47	1.43
Compound Leverage Factor	1.79	1.68	1.66	1.65	1.60	1.64	1.52	1.52	1.49	1.47	1.44
Debt to Total Capital	18.66%	18.06%	17.32%	16.52%	15.89%	15.39%	12.82%	12.31%	11.78%	11.67%	11.43%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	18.66%	18.06%	17.32%	16.52%	15.89%	15.39%	12.82%	12.31%	11.78%	11.67%	11.43%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	81.34%	81.94%	82.68%	83.48%	84.11%	84.61%	87.18%	87.69%	88.22%	88.33%	88.57%
Debt to EBITDA	0.59	0.57	0.56	0.54	0.56	0.54	0.44	0.43	0.40	0.42	0.44
Net Debt to EBITDA	0.23	0.16	0.03	-0.02	-0.02	0.00	0.00	-0.01	-0.06	0.03	0.05
Long-Term Debt to EBITDA	0.59	0.57	0.56	0.54	0.56	0.54	0.44	0.43	0.40	0.42	0.44
Debt to NOPAT	0.78	0.76	0.74	0.72	0.76	0.73	0.60	0.58	0.54	0.56	0.60
Net Debt to NOPAT	0.31	0.21	0.04	-0.03	-0.02	-0.01	0.00	-0.02	-0.08	0.04	0.06
Long-Term Debt to NOPAT	0.78	0.76	0.74	0.72	0.76	0.73	0.60	0.58	0.54	0.56	0.60
Altman Z-Score	3.72	3.44	4.02	3.78	4.98	4.70	4.66	5.32	5.36	4.46	4.48
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	5.52	4.00	5.52	5.33	6.02	5.45	5.52	5.34	6.69	5.83	5.01
Quick Ratio	0.47	0.40	0.73	0.73	0.80	0.68	0.56	0.53	0.75	0.51	0.43
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,262	-783	236	772	96	-293	-610	-899	-647	-1,164	-923
Operating Cash Flow to CapEx	4,038.84%	2,996.12%	3,465.12%	2,035.85%	1,170.53%	995.96%	1,336.31%	1,176.63%	2,318.67%	453.38%	832.58%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	-4,583.72	-3,863.74	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	3,746.67	2,642.26	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	3,370.48	2,444.53	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.14	1.17	1.16	1.13	1.04	1.05	1.06	1.06	1.07	1.06	1.04
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	1.08	1.06	1.06	1.01	0.96	0.97	0.99	0.99	1.02	1.00	0.98
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	18.51	20.32	18.04	20.28	18.83	21.42	19.52	18.89	18.56	19.96	18.39
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	338.39	343.54	345.47	360.89	378.28	377.90	370.27	368.36	357.09	364.54	371.42
Days Payable Outstanding (DPO)	19.72	17.96	20.23	18.00	19.39	17.04	18.70	19.32	19.66	18.28	19.84
Cash Conversion Cycle (CCC)	318.67	325.58	325.24	342.89	358.89	360.86	351.57	349.04	337.42	346.26	351.58
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	9,718	9,834	9,809	9,932	10,329	10,749	11,217	11,520	11,871	12,430	12,749
Invested Capital Turnover	1.85	1.79	1.75	1.68	1.60	1.60	1.60	1.61	1.62	1.54	1.48
Increase / (Decrease) in Invested Capital	2,131	1,312	474	-147	611	915	1,408	1,588	1,542	1,681	1,532
Enterprise Value (EV)	11,014	13,592	17,315	16,058	22,049	25,946	23,153	29,741	22,083	20,942	21,311
Market Capitalization	10,210	13,021	17,211	16,138	22,103	25,960	23,159	29,786	22,333	20,813	21,137
Book Value per Share	$39.13	$41.06	$43.48	$45.63	$48.16	$50.80	$53.36	$55.72	$59.11	$60.76	$62.74
Tangible Book Value per Share	$38.53	$40.47	$42.89	$45.04	$47.58	$50.22	$52.78	$55.16	$58.55	$60.20	$62.19
Total Capital	10,960	11,305	11,738	11,994	12,345	12,719	12,873	13,188	13,741	13,927	14,198
Total Debt	2,046	2,042	2,033	1,981	1,962	1,957	1,650	1,624	1,619	1,626	1,623
Total Long-Term Debt	2,046	2,042	2,033	1,981	1,962	1,957	1,650	1,624	1,619	1,626	1,623
Net Debt	804	570	104	-81	-54	-13	-6.03	-44	-251	129	174
Capital Expenditures (CapEx)	24	24	21	22	25	24	31	39	24	30	35
Debt-free, Cash-free Net Working Capital (DFCFNWC)	9,075	8,279	8,960	9,057	9,531	9,563	9,831	10,022	10,526	10,518	10,325
Debt-free Net Working Capital (DFNWC)	10,169	9,606	10,738	10,957	11,380	11,329	11,277	11,477	12,179	11,794	11,592
Net Working Capital (NWC)	10,169	9,606	10,738	10,957	11,380	11,329	11,277	11,477	12,179	11,794	11,592
Net Nonoperating Expense (NNE)	-13	-3.28	-11	-14	-4.19	-42	-12	-9.40	-18	-5.27	0.45
Net Nonoperating Obligations (NNO)	804	570	104	-81	-54	-13	-6.03	-44	-251	129	174
Total Depreciation and Amortization (D&A)	19	19	20	21	21	21	22	22	24	25	25
Debt-free, Cash-free Net Working Capital to Revenue	56.71%	50.39%	53.53%	53.76%	59.34%	58.19%	58.36%	57.87%	58.65%	58.79%	58.35%
Debt-free Net Working Capital to Revenue	63.55%	58.47%	64.15%	65.04%	70.85%	68.93%	66.94%	66.27%	67.86%	65.92%	65.51%
Net Working Capital to Revenue	63.55%	58.47%	64.15%	65.04%	70.85%	68.93%	66.94%	66.27%	67.86%	65.92%	65.51%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.79	$2.35	$3.23	$2.92	$3.29	$3.13	$3.86	$3.38	$4.45	$2.59	$3.05
Adjusted Weighted Average Basic Shares Outstanding	235.01M	225.13M	222.16M	218.29M	219.96M	211.84M	209.55M	206.77M	208.11M	202.06M	199.24M
Adjusted Diluted Earnings per Share	$3.76	$2.35	$3.21	$2.90	$3.26	$3.10	$3.83	$3.35	$4.41	$2.57	$3.03
Adjusted Weighted Average Diluted Shares Outstanding	236.17M	225.96M	223.39M	219.68M	221.16M	213.55M	211.20M	208.46M	209.83M	203.66M	200.68M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	225.60M	225.96M	223.39M	219.68M	212.11M	210.34M	207.52M	205.08M	202.46M	200.43M	197.30M
Normalized Net Operating Profit after Tax (NOPAT)	870	529	709	625	707	621	797	689	895	518	609
Normalized NOPAT Margin	17.12%	14.79%	16.93%	15.62%	16.46%	15.73%	17.33%	15.38%	18.18%	13.30%	13.83%
Pre Tax Income Margin	22.94%	19.64%	22.75%	21.16%	22.05%	22.00%	22.79%	20.24%	24.03%	17.50%	18.33%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	12,980.33	6,621.17	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	9,708.05	5,045.42	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	12,604.14	6,423.44	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	9,331.86	4,847.69	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	5.51%	5.30%	5.15%	5.13%	5.47%	5.44%	5.49%	5.60%	5.44%	5.81%	6.30%
Augmented Payout Ratio	46.57%	32.19%	29.78%	33.97%	43.90%	45.54%	46.60%	46.56%	44.36%	48.42%	51.52%

Key Financial Trends

Over the last four years, PulteGroup (NYSE:PHM) has demonstrated stable financial performance with some notable trends in revenue, profitability, and cash flow management.

Revenue and Profitability

Operating revenue grew from $3.58 billion in Q1 2023 to $4.40 billion in Q2 2025, showing steady top-line expansion.
Net income showed a positive trend rising from $532 million in Q1 2023 to $608 million in Q2 2025, reflecting earnings growth.
Gross profit margin remains healthy, with Q2 2025 gross profit at approximately $1.2 billion, up from $1.03 billion in Q1 2023, indicating effective cost control relative to revenues.
Basic and diluted earnings per share increased from around $2.35 in Q1 2023 to approximately $3.05 in Q2 2025, benefiting from both profit growth and slight share count reductions.

Cash Flow and Capital Expenditures

Net cash from operating activities more than doubled from $239.8 million in Q1 2023 to $287.5 million in Q2 2025, signifying improved cash generation from core operations.
Investing activities show consistent cash outflows for property, plant & equipment purchases (around $24 to $35 million per quarter), which could pressure free cash flow in the short term.
Acquisitions outflow remained modest and steady, generally under $10 million per quarter, suggesting controlled expansion.

Balance Sheet and Financing

Total common equity increased from approximately $9.3 billion in Q1 2023 to $12.6 billion in Q2 2025, reflecting retained earnings growth and shareholder value creation.
Long-term debt showed variability but did not exhibit a clear upward or downward trend, ending at about $1.62 billion in Q2 2025, indicating stable leverage.
The company engaged in significant common equity repurchases totaling around $300 million in Q1 and Q2 2025, reducing cash reserves and potentially impacting liquidity.
Dividend payments have remained consistent around $0.16 to $0.22 per share quarterly, reflecting a stable shareholder return policy.

Summary

PulteGroup shows strong and improving profitability and cash flow, supported by revenue growth and efficient operating expense control. The balance sheet remains solid with increasing equity and manageable debt levels. However, the company’s significant share repurchase activity and ongoing capital expenditures warrant monitoring for impacts on liquidity and financial flexibility.

08/14/25 01:41 PMAI Generated. May Contain Errors.

Frequently Asked Questions About PulteGroup's Financials

When does PulteGroup's financial year end?

According to the most recent income statement we have on file, PulteGroup's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has PulteGroup's net income changed over the last 10 years?

PulteGroup's net income appears to be on an upward trend, with a most recent value of $3.08 billion in 2024, rising from $474.34 million in 2014. The previous period was $2.60 billion in 2023. Check out PulteGroup's forecast to explore projected trends and price targets.

What is PulteGroup's operating income?

PulteGroup's total operating income in 2024 was $3.90 billion, based on the following breakdown:

Total Gross Profit: $5.45 billion
Total Operating Expenses: $1.55 billion

How has PulteGroup's revenue changed over the last 10 years?

Over the last 10 years, PulteGroup's total revenue changed from $5.82 billion in 2014 to $17.95 billion in 2024, a change of 208.2%.

How much debt does PulteGroup have?

PulteGroup's total liabilities were at $5.24 billion at the end of 2024, a 8.1% decrease from 2023, and a 39.2% increase since 2014.

How much cash does PulteGroup have?

In the past 10 years, PulteGroup's cash and equivalents has ranged from $272.68 million in 2017 to $2.58 billion in 2020, and is currently $1.61 billion as of their latest financial filing in 2024.

How has PulteGroup's book value per share changed over the last 10 years?

Over the last 10 years, PulteGroup's book value per share changed from 12.96 in 2014 to 59.11 in 2024, a change of 356.1%.

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This page (NYSE:PHM) was last updated on 8/14/2025 by MarketBeat.com Staff

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