PulteGroup (PHM)
Consumer Discretionary · $23.0B market cap · SEC CIK 0000822416
$122.29
▲+2.79% on the day
close of Sep 22, 2026
53
Mixed
fundamentals score out of 100
fundamentals score out of 100
Next reports on Oct 22, 2026, before the open, with analysts expecting $2.70 in earnings per share.
The case for PHM
- Cheap on earnings at 12.1×, well under the market's usual 20×.
- Holds more cash ($2.0B) than long-term debt ($43.9M).
- Free cash flow of 7.6% of its market value a year: a lot of cash for the price.
- Barely leveraged. Debt is 0.18× equity.
- Current assets cover the near-term bills 5.1 times over.
The case against
- Revenue fell 7.3% year over year.
- Earnings per share down 26.8%.
- The price trend is weak (36/100): -9.8% over a year, -6.3% over three months, 38% of the way up its 52-week range.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Consumer Discretionary companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 86 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 29 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 47 |
| Momentumhow the price has behaved lately | 36 |
| Stabilityhow violently it moves, what it owes and what it pays you | 75 |
- Each factor except momentum is half fixed thresholds, half rank among the 48 Consumer Discretionary companies.
Key numbers
| Price / earnings | 12.1× |
|---|---|
| Price / book | 2.01× |
| Price / sales | 1.4× |
| Revenue growth (YoY) | -7.3% |
| EPS growth (YoY) | -26.8% |
| Gross margin | 25% |
| Operating margin | 15% |
| Net margin | 12% |
| Return on equity | 15% |
| Debt / equity | 0.18× |
| Current ratio | 5.06 |
| Dividend yield | 0.91% |
| Beta | 1.18 |
| 52-week range | $108.49 – $144.50 |
| Position in that range | 38% of the way up |
| 3-month return | -6.3% |
| 1-year return | -9.8% |
Five years of financials, as filed
Pulled from PulteGroup's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $17.3B | $17.9B | $16.1B | $16.0B | $13.7B |
| Net income | $2.2B | $3.1B | $2.6B | $2.6B | $1.9B |
| Operating cash flow | $1.9B | $1.7B | $2.2B | $668M | $1.0B |
| Capital expenditure | $123M | $119M | $92.2M | $113M | $72.8M |
| Total assets | $18.0B | $17.4B | $16.1B | $14.8B | $13.4B |
| Total liabilities | $5.1B | $5.2B | $5.7B | $5.9B | $5.9B |
| Shareholder equity | $13.0B | $12.1B | $10.4B | $8.9B | $7.5B |
| Cash | $2.0B | $1.6B | $1.8B | $1.1B | $1.8B |
| Long-term debt | $43.9M | $31.1M | $73.5M | $77.3M | $63.9M |
| Free cash flow | $1.7B | $1.6B | $2.1B | $556M | $931M |
| Net margin | 12.8% | 17.2% | 16.2% | 16.4% | 14.2% |
| Diluted shares | 200M | 210M | 221M | 236M | 260M |
Share count is down 23.2% over 4 years. Buybacks have been shrinking the pie.
Risk factors PHM lists in its 10-K
- Inflation has resulted in increased costs that we may not be able to recoup and has impacted home affordability and consumer sentiment
- Supply shortages and other risks related to the demand for skilled labor and building materials could increase costs and delay deliveries
- Our success depends on our ability to acquire land suitable for residential homebuilding in accordance with our land investment criteria
- If the market value of our land drops significantly, our profits could decrease and result in write-downs of the carrying values of land we own
- Competition for homebuyers could reduce our deliveries or decrease our profitability
- An inability to accurately predict customer preferences or demand, or to respond effectively to technological developments, including artificial intelligence, could materially impact the business
- Government regulations could increase the cost and limit the availability of our development and homebuilding projects or affect our related Financial Services operations and adversely affect our business or financial results
- Homebuilding is subject to warranty and other claims in the ordinary course of business that can be significant
- We can be injured by improper acts of persons over whom we do not have control or by the attempt to impose liabilities or obligations of third parties on us
- Natural disasters, severe weather conditions and changing climate patterns could delay deliveries, increase costs, and decrease demand for new homes in affected areas
- The impact of climate change or other governmental regulation may adversely impact our business
- Risks Related to Our Business Model and Capital Structure
- Adverse capital and credit market conditions may significantly affect our access to capital and cost of capital
- Our income tax provision and tax reserves may be insufficient if a taxing authority is successful in asserting positions that are contrary to our interpretations and related reserves, if any