Revenue
$17.31B
Fiscal year ended 2025-12-31Operating income
Unavailable
Fiscal year ended 2025-12-31Free cash flow
$1.75B
Fiscal year ended 2025-12-31Valuation, from the filing
| Public float | $20.70B | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $107.63 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / net income | 9.3× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / revenue | 1.2× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 1.6× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
Valuation over time
9.3× earnings today, against a median of 7.7× across 10 years on record. Above its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2025-06-30 | $20.70B | 9.3× | |
| 2024-06-30 | $22.80B | 7.4× | |
| 2023-06-30 | $17.00B | 6.5× | |
| 2022-06-30 | $9.16B | 3.5× | |
| 2021-06-30 | $14.12B | 7.3× | |
| 2020-06-30 | $9.08B | 6.5× | |
| 2019-06-30 | $8.65B | 8.5× | |
| 2018-06-30 | $8.13B | 8.0× | |
| 2017-06-30 | $7.39B | 16.5× | |
| 2016-06-30 | $6.63B | 11.0× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the Operative Builders filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| FCF margin | 10.1% | 83th | |
| Net margin | 12.8% | 79th | |
| Revenue YoY growth | -3.5% | 29th | |
| SBC / revenue | 0.3% | 29th | |
| CapEx / revenue | 0.7% | 67th |
PULTEGROUP INC/MI/ (PHM) reported revenue of $17.31B and net income of $2.22B for the fiscal year ended 2025-12-31. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from PULTEGROUP INC/MI/’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Operative Builders.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.31B | $17.95B | $16.06B | $16.00B | $13.74B | $11.04B | $10.21B | $10.19B | $8.58B | $7.68B |
| Cost of revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross profit | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating income | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Net income | $2.22B | $3.08B | $2.60B | $2.62B | $1.95B | $1.41B | $1.02B | $1.02B | $447.22M | $602.70M |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 199.54M | shares 209.83M | shares 221.16M | shares 236.17M | shares 259.93M | shares 269.41M | shares 275.30M | shares 284.86M | shares 306.81M | shares 342.12M |
| Pretax income | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Income tax expense | $692.59M | $922.62M | $846.90M | $822.24M | $563.52M | $321.86M | $322.88M | $325.52M | $491.61M | $331.15M |
| Diluted EPS | $11.12 | $14.69 | $11.72 | $11.01 | $7.43 | $5.18 | $3.66 | $3.55 | $1.44 | $1.75 |
| Selling, general & administrative | $1.57B | $1.32B | $1.31B | $1.38B | $1.21B | $1.01B | $1.04B | $1.01B | $891.58M | $957.15M |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $1.98B | $1.61B | $1.81B | $1.05B | $1.78B | $2.58B | $1.22B | $1.11B | $272.68M | $698.88M |
| Total assets | $18.05B | $17.36B | $16.09B | $14.80B | $13.35B | $12.21B | $10.72B | $10.17B | $9.69B | $10.18B |
| Current assets | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total liabilities | $5.06B | $5.24B | $5.70B | $5.88B | $5.86B | $5.64B | $5.26B | $5.36B | $5.53B | $5.52B |
| Current liabilities | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total equity incl. NCI | $12.99B | $12.12B | $10.38B | $8.91B | $7.49B | $6.57B | $5.46B | $4.82B | $4.15B | $4.66B |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $6.20M | $40.90M | $80.30M | $66.50M |
| Goodwill | $40.38M | $68.93M | $68.93M | $68.93M | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Long-term debt | $43.90M | $31.10M | $73.50M | $77.30M | $63.90M | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts payable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.87B | $1.68B | $2.20B | $668.47M | $1.00B | $1.78B | $1.08B | $1.45B | $663.08M | $68.27M |
| Capital expenditures | $122.72M | $118.54M | $92.20M | $112.66M | $72.78M | $58.35M | $58.12M | $59.04M | $32.05M | $39.30M |
| Investing cash flow | -$80.42M | -$94.48M | -$129.10M | -$171.74M | -$124.13M | -$107.95M | -$224.69M | -$40.48M | -$50.24M | -$471.19M |
| Financing cash flow | -$1.44B | -$1.78B | -$1.31B | -$1.24B | -$1.68B | -$295.62M | -$733.56M | -$580.27M | -$1.03B | $350.74M |
| Net change in cash | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Stock-based compensation | $54.82M | $54.69M | $48.20M | $42.99M | $36.74M | $32.84M | $28.37M | $28.29M | $33.68M | $22.23M |
| Common dividends paid | $176.68M | $167.71M | $142.46M | $144.12M | $147.83M | $130.18M | $122.35M | $104.02M | $112.75M | $124.67M |
| Common share repurchases | $1.20B | $1.20B | $1.00B | $1.07B | $897.30M | $170.68M | $274.33M | $294.57M | $910.33M | $603.21M |
| Depreciation & amortization | $112.51M | $89.16M | $80.82M | $70.92M | $69.95M | $66.08M | $54.00M | $49.43M | $51.00M | $54.01M |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | $1.75B | $1.56B | $2.10B | $555.80M | $931.24M | $1.73B | $1.02B | $1.39B | $631.03M | $28.98M |
| Gross margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| FCF margin | 10.1% | 8.7% | 13.1% | 3.5% | 6.8% | 15.6% | 10.0% | 13.6% | 7.4% | 0.4% |
| SBC / revenue | 0.3% | 0.3% | 0.3% | 0.3% | 0.3% | 0.3% | 0.3% | 0.3% | 0.4% | 0.3% |
| Current ratio | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Revenue YoY growth | -3.5% | 11.7% | 0.4% | 16.5% | 24.5% | 8.1% | 0.2% | 18.8% | 11.7% | Unavailable |
| Net margin | 12.8% | 17.2% | 16.2% | 16.4% | 14.2% | 12.7% | 10.0% | 10.0% | 5.2% | 7.9% |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | 0.7% | 0.7% | 0.6% | 0.7% | 0.5% | 0.5% | 0.6% | 0.6% | 0.4% | 0.5% |
| Long-term debt / equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open PHM in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-10-22View SEC filing
10-Q · Filed 2026-07-22View SEC filing
10-Q · Filed 2026-04-23View SEC filing
10-K · Filed 2026-02-04View SEC filing
10-Q · Filed 2025-10-21View SEC filing
10-Q · Filed 2025-07-22View SEC filing
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.