PulteGroup (PHM) financial statements
PulteGroup reported revenue of $17.3B in fiscal 2025, up 9.5% a year over 9 years.
Net income was $2.2B.
Free cash flow was $1.7B, and the company returned $177M in dividends and $1.2B in net buybacks.
The diluted share count fell 42% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from PulteGroup's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.7B | $8.6B | $10.2B | $10.2B | $11.0B | $13.7B | $16.0B | $16.1B | $17.9B | $17.3B |
| Selling, general and admin | $957M | $892M | $1.0B | $1.0B | $1.0B | $1.2B | $1.4B | $1.3B | $1.3B | $1.6B |
| Interest expense | $686,000 | $503,000 | $618,000 | $584,000 | $4M | $502,000 | $284,000 | $469,000 | $479,000 | $605,000 |
| Pre-tax income | $934M | $939M | $1.3B | $1.3B | $1.7B | $2.5B | $3.4B | $3.4B | $4.0B | $2.9B |
| Income tax | $331M | $492M | $326M | $323M | $322M | $564M | $822M | $847M | $923M | $693M |
| Net income | $603M | $447M | $1.0B | $1.0B | $1.4B | $1.9B | $2.6B | $2.6B | $3.1B | $2.2B |
| EPS (diluted) | $1.75 | $1.44 | $3.55 | $3.66 | $5.18 | $7.43 | $11.01 | $11.72 | $14.69 | $11.12 |
| Diluted shares | 342M | 307M | 285M | 275M | 269M | 260M | 236M | 221M | 210M | 200M |
| Net margin | 7.9% | 5.2% | 10.0% | 10.0% | 12.7% | 14.2% | 16.4% | 16.2% | 17.2% | 12.8% |
Balance sheet
Fiscal years, from PulteGroup's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $699M | $273M | $1.1B | $1.2B | $2.6B | $1.8B | $1.1B | $1.8B | $1.6B | $2.0B |
| Receivables | $66M | $80M | $41M | $6M | — | — | — | — | — | — |
| Property, plant and equipment | $77M | $71M | $93M | $112M | $132M | $149M | $200M | $221M | $253M | $239M |
| Goodwill | — | — | — | — | — | — | $69M | $69M | $69M | $40M |
| Total assets | $10.2B | $9.7B | $10.2B | $10.7B | $12.2B | $13.4B | $14.8B | $16.1B | $17.4B | $18.0B |
| Total liabilities | $5.5B | $5.5B | $5.4B | $5.3B | $5.6B | $5.9B | $5.9B | $5.7B | $5.2B | $5.1B |
| Shareholders' equity | $4.7B | $4.2B | $4.8B | $5.5B | $6.6B | $7.5B | $8.9B | $10.4B | $12.1B | $13.0B |
| Net debt | -$699M | -$273M | -$1.1B | -$1.2B | -$2.6B | -$1.8B | -$1.1B | -$1.8B | -$1.6B | -$2.0B |
Cash flow
Fiscal years, from PulteGroup's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $68M | $663M | $1.4B | $1.1B | $1.8B | $1.0B | $668M | $2.2B | $1.7B | $1.9B |
| Capital spending | $39M | $32M | $59M | $58M | $58M | $73M | $113M | $92M | $119M | $123M |
| Free cash flow | $29M | $631M | $1.4B | $1.0B | $1.7B | $931M | $556M | $2.1B | $1.6B | $1.7B |
| Stock-based compensation | $22M | $34M | $28M | $28M | $33M | $37M | $43M | $48M | $55M | $55M |
| Dividends paid | $125M | $113M | $104M | $122M | $130M | $148M | $144M | $142M | $168M | $177M |
| Share buybacks (net) | -$603M | -$910M | -$295M | -$274M | -$171M | -$897M | -$1.1B | -$1.0B | -$1.2B | -$1.2B |
| Net borrowing | $1.0B | -$135M | -$83M | -$310M | -$65M | -$837M | -$5M | -$123M | -$356M | -$25M |
| Free cash flow margin | 0.4% | 7.4% | 13.6% | 10.0% | 15.6% | 6.8% | 3.5% | 13.1% | 8.7% | 10.1% |
| Dividends per share | $0.36 | $0.37 | $0.37 | $0.44 | $0.48 | $0.57 | $0.61 | $0.64 | $0.80 | $0.89 |
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Open PHM in InvestinglyQuestions
What was PulteGroup's revenue in 2025?
$17.3B in fiscal 2025, from its 10-K filing.
How much free cash flow does PulteGroup generate?
$1.7B in fiscal 2025 (operating cash flow minus capital spending).
From PulteGroup's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.