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PulteGroup, Inc. (PHM) 10-Year Financial Performance & Capital Metrics

PHM • • Industrial / General
Consumer CyclicalHomebuildersTraditional Site-Built HomebuildersNational Production Homebuilders
AboutPulteGroup, Inc., through its subsidiaries, primarily engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes; and constructs housing on such land. The company also offers various home designs, including single-family detached, townhomes, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, American West, and John Wieland Homes and Neighborhoods brand names. As of December 31, 2021, it controlled 228,296 lots, of which 109,078 were owned and 119,218 were under land option agreements. In addition, the company arranges financing through the origination of mortgage loans primarily for homebuyers; sells the servicing rights for the originated loans; and provides title insurance policies, and examination and closing services to homebuyers. PulteGroup, Inc. was formerly known as Pulte Homes, Inc. and changed its name to PulteGroup, Inc. in March 2010. The company was founded in 1950 and is headquartered in Atlanta, Georgia.Show more
  • Revenue $17.95B +11.7%
  • EBITDA $3.98B +14.4%
  • Net Income $3.08B +18.5%
  • EPS (Diluted) 14.69 +25.3%
  • Gross Margin 29.09% -1.0%
  • EBITDA Margin 22.17% +2.4%
  • Operating Margin 21.67% +2.5%
  • Net Margin 17.18% +6.0%
  • ROE 27.4% +1.6%
  • ROIC 24.86% +1.7%
  • Debt/Equity 0.19 -11.1%
  • Interest Coverage 8120.87 +12.1%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Excellent 3Y average ROE of 28.8%
  • ✓Strong 5Y profit CAGR of 24.8%
  • ✓Strong 5Y sales CAGR of 11.9%
  • ✓Share count reduced 5.1% through buybacks
  • ✓Healthy 5Y average net margin of 15.3%
  • ✓Efficient asset utilization: 1.0x turnover

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y11.92%
5Y11.94%
3Y9.32%
TTM1.76%

Profit (Net Income) CAGR

10Y20.58%
5Y24.84%
3Y16.57%
TTM-8.7%

EPS CAGR

10Y27.84%
5Y32.04%
3Y25.51%
TTM-4.06%

ROCE

10Y Avg19.29%
5Y Avg24.97%
3Y Avg27.52%
Latest27.36%

Peer Comparison

National Production Homebuilders
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Size & Scale
Valuation
Per Share
Growth
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Quality & Returns
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
NVRNVR, Inc.20.83B7623.0115.0410.58%13.9%36.14%6.46%0.24
DHID.R. Horton, Inc.46.87B161.0013.92-6.93%10.47%14.49%7.01%0.24
PHMPulteGroup, Inc.25.9B132.879.0411.74%14.93%20.51%6.03%0.19
LENLennar Corporation26.38B122.258.543.47%7.72%11.8%8.46%0.16
KBHKB Home3.93B62.247.378.1%7.92%11.08%8.22%0.42

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+5.98B7.68B8.58B10.19B10.21B11.04B13.74B16B16.06B17.95B
Revenue Growth %0.03%0.28%0.12%0.19%0%0.08%0.24%0.16%0%0.12%
Cost of Goods Sold+4.35B5.73B6.71B7.81B7.82B8.26B9.95B11.17B11.34B12.73B
COGS % of Revenue0.73%0.75%0.78%0.77%0.77%0.75%0.72%0.7%0.71%0.71%
Gross Profit+1.63B1.95B1.86B2.37B2.4B2.78B3.78B4.83B4.72B5.22B
Gross Margin %0.27%0.25%0.22%0.23%0.23%0.25%0.28%0.3%0.29%0.29%
Gross Profit Growth %0.03%0.2%-0.04%0.27%0.01%0.16%0.36%0.28%-0.02%0.11%
Operating Expenses+807.63M970.95M905.38M1.03B1.06B1.03B1.23B1.39B1.32B1.33B
OpEx % of Revenue0.14%0.13%0.11%0.1%0.1%0.09%0.09%0.09%0.08%0.07%
Selling, General & Admin794.73M957.15M891.58M1.01B1.04B1.01B1.21B1.38B1.31B1.32B
SG&A % of Revenue0.13%0.12%0.1%0.1%0.1%0.09%0.09%0.09%0.08%0.07%
Research & Development0000000000
R&D % of Revenue----------
Other Operating Expenses12.9M13.8M13.8M13.8M14.2M19.68M16.5M11.12M10.54M10.03M
Operating Income+820.49M976.92M957.41M1.35B1.34B1.75B2.56B3.44B3.4B3.89B
Operating Margin %0.14%0.13%0.11%0.13%0.13%0.16%0.19%0.22%0.21%0.22%
Operating Income Growth %0.17%0.19%-0.02%0.41%-0.01%0.3%0.46%0.35%-0.01%0.15%
EBITDA+866.71M1.03B1.01B1.4B1.39B1.81B2.63B3.51B3.48B3.98B
EBITDA Margin %0.14%0.13%0.12%0.14%0.14%0.16%0.19%0.22%0.22%0.22%
EBITDA Growth %0.17%0.19%-0.02%0.39%-0%0.3%0.45%0.34%-0.01%0.14%
D&A (Non-Cash Add-back)46.22M54.01M51M49.43M54M66.08M69.95M70.92M80.82M89.16M
EBIT816.81M934.54M939.33M1.35B1.34B1.73B2.51B3.44B3.45B4.01B
Net Interest Income+2.32M2.55M2.03M6.97M16.16M2.59M1.45M1.69M61.06M59.01M
Interest Income3.11M3.24M2.54M7.59M16.74M6.84M1.95M1.97M61.53M59.49M
Interest Expense788K686K503K618K584K4.25M502K284K469K479K
Other Income/Expense-4.46M-43.07M-18.59M-49K724K-18.33M-47.38M-2.6M52.96M115.98M
Pretax Income+816.02M933.85M938.83M1.35B1.34B1.73B2.51B3.44B3.45B4.01B
Pretax Margin %0.14%0.12%0.11%0.13%0.13%0.16%0.18%0.21%0.21%0.22%
Income Tax+321.93M331.15M491.61M325.52M322.88M321.86M563.52M822.24M846.89M922.62M
Effective Tax Rate %0.61%0.65%0.48%0.76%0.76%0.81%0.78%0.76%0.75%0.77%
Net Income+494.09M602.7M447.22M1.02B1.02B1.41B1.95B2.62B2.6B3.08B
Net Margin %0.08%0.08%0.05%0.1%0.1%0.13%0.14%0.16%0.16%0.17%
Net Income Growth %0.04%0.22%-0.26%1.29%-0.01%0.38%0.38%0.34%-0.01%0.18%
Net Income (Continuing)494.09M602.7M447.22M1.02B1.02B1.41B1.95B2.62B2.6B3.08B
Discontinued Operations0000000000
Minority Interest0000000000
EPS (Diluted)+1.361.751.443.593.665.187.4311.0111.7214.69
EPS Growth %0.08%0.29%-0.18%1.49%0.02%0.42%0.43%0.48%0.06%0.25%
EPS (Basic)1.381.761.453.603.675.197.4411.0711.7914.82
Diluted Shares Outstanding359.79M342.12M306.81M284.87M275.3M269.41M259.93M236.17M221.16M209.83M
Basic Shares Outstanding356.58M339.75M305.09M283.58M274.5M268.55M259.29M235.01M219.96M208.11M
Dividend Payout Ratio0.23%0.21%0.25%0.1%0.12%0.09%0.08%0.06%0.05%0.05%

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+7.53B8.83B8.75B9.59B10.15B11.65B12.72B14.12B15.37B16.58B
Cash & Short-Term Investments760.01M708.08M278.67M1.12B1.23B2.58B1.79B1.05B1.81B1.65B
Cash Only754.16M698.88M272.68M1.11B1.23B2.58B1.79B1.05B1.81B1.65B
Short-Term Investments0000000000
Accounts Receivable28.29M29.11M16.77M000000253.43M
Days Sales Outstanding1.731.380.71------5.15
Inventory5.53B6.8B7.22B7.29B7.7B7.75B9.08B11.37B11.82B12.69B
Days Inventory Outstanding463.73433.41392.21340.49359.82342.54332.82371.53380.35364.06
Other Current Assets1.1B1.18B1.12B1.05B1.09B1.18B1.7B1.46B1.5B1.74B
Total Non-Current Assets+1.66B1.35B937.6M580.33M567.93M551.3M630.76M677.35M717.24M785.36M
Property, Plant & Equipment86.31M77.44M70.71M92.94M181.74M203.02M223.47M273.75M298.89M346.99M
Fixed Asset Turnover69.31x99.12x121.31x109.63x56.19x54.36x61.47x58.46x53.74x51.72x
Goodwill040.4M40.4M40.4M40.4M68.9M68.9M68.93M68.93M68.93M
Intangible Assets110.22M114.39M100.59M86.79M84.59M94.53M78.02M66.88M56.34M46.3M
Long-Term Investments41.27M51.45M62.96M54.59M59.77M35.56M98.16M146.76M166.91M215.42M
Other Non-Current Assets1.42B1.06B662.95M305.61M201.43M149.29M162.22M121.04M126.17M107.72M
Total Assets+8.97B10.18B9.69B10.17B10.72B12.21B13.35B14.8B16.09B17.36B
Asset Turnover0.67x0.75x0.89x1.00x0.95x0.90x1.03x1.08x1.00x1.03x
Asset Growth %0.05%0.14%-0.05%0.05%0.05%0.14%0.09%0.11%0.09%0.08%
Total Current Liabilities+1.82B1.85B1.94B1.75B1.79B1.92B2.4B2.34B2.22B2.79B
Accounts Payable267.18M305.76M321.01M297.65M384.09M426.82M533.71M478.4M501.8M728M
Days Payables Outstanding22.419.4817.4513.917.9418.8719.5715.6316.1520.88
Short-Term Debt61.17M101.05M74.15M55.65M52.26M85.19M87.5M89.31M118.77M550.56M
Deferred Revenue (Current)0000000001000K
Other Current Liabilities418.51M433.62M598.25M446.38M419.33M500.5M844.51M851.32M752.44M638.88M
Current Ratio4.15x4.78x4.52x5.48x5.66x6.06x5.31x6.05x6.91x5.94x
Quick Ratio1.10x1.10x0.79x1.32x1.36x2.03x1.52x1.18x1.60x1.39x
Cash Conversion Cycle443.06415.31375.48------348.33
Total Non-Current Liabilities+2.61B3.67B3.6B3.6B3.46B3.71B3.47B3.55B3.48B2.45B
Long-Term Debt2.11B3.13B3.01B3.03B2.77B2.75B2.03B2.05B1.96B1.62B
Capital Lease Obligations000091.41M91.36M92.66M90.08M91.55M85.37M
Deferred Tax Liabilities000000000443.57M
Other Non-Current Liabilities503.47M543.52M588.8M576.85M606.7M868.59M1.34B1.41B1.43B305M
Total Liabilities4.21B5.52B5.53B5.36B5.26B5.64B5.86B5.88B5.7B5.24B
Total Debt+2.17B3.23B3.08B3.08B2.91B2.93B2.21B2.22B2.17B2.25B
Net Debt1.42B2.53B2.81B1.97B1.68B346.65M421.54M1.17B365.95M600.83M
Debt / Equity0.46x0.69x0.74x0.64x0.53x0.45x0.29x0.25x0.21x0.19x
Debt / EBITDA2.50x3.13x3.06x2.21x2.09x1.62x0.84x0.63x0.62x0.57x
Net Debt / EBITDA1.63x2.46x2.79x1.41x1.21x0.19x0.16x0.33x0.11x0.15x
Interest Coverage1041.23x1424.08x1903.41x2180.56x2292.55x411.26x5094.07x12120.27x7241.59x8120.87x
Total Equity+4.76B4.66B4.15B4.82B5.46B6.57B7.49B8.91B10.38B12.12B
Equity Growth %-0.01%-0.02%-0.11%0.16%0.13%0.2%0.14%0.19%0.16%0.17%
Book Value per Share13.2313.6213.5416.9119.8324.3928.8137.7546.9557.77
Total Shareholders' Equity4.76B4.66B4.15B4.82B5.46B6.57B7.49B8.91B10.38B12.12B
Common Stock3.49M3.19M2.87M2.77M2.7M2.67M2.49M2.26M2.13M2.03M
Retained Earnings1.66B1.54B980.06M1.61B2.22B3.31B4.2B5.58B7.01B8.69B
Treasury Stock0000000000
Accumulated OCI-609K-526K-445K-345K-245K-145K-45K000
Minority Interest0000000000

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-348.13M68.27M663.08M1.45B1.08B1.78B1B668.47M2.2B1.68B
Operating CF Margin %-0.06%0.01%0.08%0.14%0.11%0.16%0.07%0.04%0.14%0.09%
Operating CF Growth %-2.13%1.2%8.71%1.19%-0.26%0.66%-0.44%-0.33%2.29%-0.23%
Net Income494.09M602.7M447.22M1.02B1.02B1.41B1.95B2.62B2.6B3.08B
Depreciation & Amortization46.22M54.01M51M49.43M54M66.08M69.95M70.92M80.82M89.16M
Stock-Based Compensation24.75M22.23M33.68M28.29M28.37M32.84M36.74M42.99M48.2M54.69M
Deferred Taxes311.7M334.79M422.31M362.78M105.44M137.6M59.17M106.58M104.27M151.1M
Other Non-Cash Items6.6M21.63M190.12M95.83M33.18M39.38M60.27M66.56M41.7M-20.53M
Working Capital Changes-1.24B-967.08M-481.26M-108.61M-161.69M101.6M-1.17B-2.24B-680.6M-1.68B
Change in Receivables-104.61M-99.53M-33.01M107.33M-48.26M-56.73M-382.81M266.31M160.93M-113.33M
Change in Inventory-927.77M-897.09M-569.03M-50.36M-237.74M2.99M-1.27B-2.26B-354.02M-787.48M
Change in Payables-23.9M75.26M65.68M-101.4M140.98M201.65M640.68M-104.76M-196.88M-286.46M
Cash from Investing+-30.85M-471.19M-50.24M-41.94M-226.23M-107.95M-124.13M-171.74M-129.09M-94.48M
Capital Expenditures-45.44M-39.3M-32.05M-59.04M-58.12M-58.35M-72.78M-112.66M-92.2M-118.55M
CapEx % of Revenue0.01%0.01%0%0.01%0.01%0.01%0.01%0.01%0.01%0.01%
Acquisitions----------
Investments----------
Other Investing11.33M13.1M4.85M19.56M-4.39M34.41M60.64M16.02M-13.49M40.11M
Cash from Financing+-159.72M350.74M-1.03B-580.27M-733.56M-295.62M-1.68B-1.24B-1.31B-1.78B
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-115.96M-124.67M-112.75M-104.02M-122.35M-130.18M-147.83M-144.12M-142.46M-167.71M
Share Repurchases----------
Other Financing10.54M5.84M27.72M-1.61M6.4M111K11K41.65M51.78M-66.97M
Net Change in Cash----------
Free Cash Flow+-393.57M28.98M631.03M1.39B1.02B1.73B931.24M555.8M2.1B1.56B
FCF Margin %-0.07%0%0.07%0.14%0.1%0.16%0.07%0.03%0.13%0.09%
FCF Growth %-2.51%1.07%20.78%1.2%-0.27%0.69%-0.46%-0.4%2.79%-0.26%
FCF per Share-1.090.082.064.883.706.413.582.359.527.45
FCF Conversion (FCF/Net Income)-0.70x0.11x1.48x1.42x1.06x1.27x0.52x0.26x0.84x0.55x
Interest Paid000557K5.61M3.06M10.86M1.8M026.05M
Taxes Paid02.74M14.88M89.2M137.12M264.25M457.41M641.95M0739.68M

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)10.33%12.8%10.15%22.78%19.79%23.39%27.69%31.91%26.97%27.4%
Return on Invested Capital (ROIC)10.64%10.96%10.15%14.7%14.41%18.64%25.87%28.69%24.45%24.86%
Gross Margin27.22%25.37%21.72%23.3%23.47%25.17%27.53%30.21%29.38%29.09%
Net Margin8.26%7.85%5.21%10.03%9.96%12.75%14.17%16.36%16.2%17.18%
Debt / Equity0.46x0.69x0.74x0.64x0.53x0.45x0.29x0.25x0.21x0.19x
Interest Coverage1041.23x1424.08x1903.41x2180.56x2292.55x411.26x5094.07x12120.27x7241.59x8120.87x
FCF Conversion-0.70x0.11x1.48x1.42x1.06x1.27x0.52x0.26x0.84x0.55x
Revenue Growth2.74%28.33%11.74%18.78%0.24%8.06%24.47%16.5%0.37%11.74%

Revenue by Segment

2015201620172018201920202021202220232024
Home Building---19.8B19.89B21.25B26.91B15.92B15.6B17.51B
Home Building Growth----0.47%6.83%26.63%-40.86%-2.00%12.28%
Financial Service---205.38M234.43M362.17M389.53M311.72M187.28M432.99M
Financial Service Growth----14.14%54.49%7.56%-19.98%-39.92%131.20%
Detached single-family homes5B6.5B7.3B-------
Detached single-family homes Growth-30.00%12.31%-------
Attached homes841.5M996.4M1.07B-------
Attached homes Growth-18.41%7.19%-------

Revenue by Geography

2015201620172018201920202021202220232024
Florida1.02B1.28B1.49B1.94B2.07B2.35B3.15B3.98B4.74B4.71B
Florida Growth-25.99%16.28%30.14%6.69%13.30%34.23%26.22%19.05%-0.72%
West1.21B1.75B2.01B2.65B2.54B2.82B3.24B3.5B3.2B3.93B
West Growth-43.69%15.32%31.87%-4.41%11.15%14.73%8.30%-8.77%23.04%
Southeast1.06B1.49B1.56B1.75B1.68B1.69B2.23B2.8B2.68B2.88B
Southeast Growth-40.94%4.83%11.70%-3.52%0.43%32.06%25.12%-4.31%7.69%
MidWest1.02B1.23B1.45B1.5B1.5B1.51B1.98B2.32B2.09B2.59B
MidWest Growth-20.96%17.40%3.31%-0.16%1.28%30.77%17.08%-9.88%23.98%
Texas845.77M1.03B1.17B1.3B1.39B1.45B1.81B2.24B2.07B2.14B
Texas Growth-22.33%12.86%11.41%6.78%4.46%24.40%24.08%-7.61%3.44%
Northeast682.11M696.46M693.62M839.7M797.96M846.34M1.13B1.08B969.63M1.07B
Northeast Growth-2.10%-0.41%21.06%-4.97%6.06%33.22%-4.43%-10.01%10.17%

Frequently Asked Questions

Valuation & Price

PulteGroup, Inc. (PHM) has a price-to-earnings (P/E) ratio of 9.0x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

PulteGroup, Inc. (PHM) reported $17.62B in revenue for fiscal year 2024. This represents a 326% increase from $4.14B in 2011.

PulteGroup, Inc. (PHM) grew revenue by 11.7% over the past year. This is steady growth.

Yes, PulteGroup, Inc. (PHM) is profitable, generating $2.63B in net income for fiscal year 2024 (17.2% net margin).

Dividend & Returns

Yes, PulteGroup, Inc. (PHM) pays a dividend with a yield of 0.60%. This makes it attractive for income-focused investors.

PulteGroup, Inc. (PHM) has a return on equity (ROE) of 27.4%. This is excellent, indicating efficient use of shareholder capital.

PulteGroup, Inc. (PHM) generated $544.1M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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