PULTEGROUP INC/MI/

Listed Company

PHMCIK 0000822416NYSELarge AcceleratedOperative BuildersMichiganFY ends Dec 31

Period

FY 2025

Revenue

$17.31B

Net Income

$2.22B

Total Assets

$18.05B

Equity

$12.99B

Shares Out

190.49M

Op. Cash Flow

$1.87B

Business

PULTEGROUP INC/MI/ operates as a national homebuilder and related financial services provider, focused on acquiring, developing and constructing residential communities. It offers a broad range of home products including predominantly single‑family detached homes, attached homes (townhomes, condominiums, duplexes), and active adult communities under brands such as Pulte Homes, Centex, Del Webb, DiVosta, John Wieland, and American West, plus mortgage, title, and insurance services. The company operates through Homebuilding and Financial Services segments (including Pulte Mortgage and other subsidiaries). Its homes are developed and sold across numerous U.S. markets and states through company sales consultants, independent brokers, model homes, digital channels, and a mix of built‑to‑order and speculative inventory.

Summary from filing dated 2025-02-06

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	17,312	17,947	16,062	16,003	13,737
Selling, general, and administrative expenses	−1,574	−1,321	−1,313	−1,381	−1,209
Equity income from unconsolidated entities, net	4	44	5	51	17
Other income (expense), net	−92	62	38	−64	−20
Income before income taxes	2,911	4,006	3,449	3,440	2,510
Income tax expense	−693	−923	−847	−822	−564
Net income	2,219	3,083	2,602	2,617	1,946
Basic (usd per share)	11.21	14.82	11.79	11.07	7.44
Diluted (usd per share)	11.12	14.69	11.72	11.01	7.43
Cash dividends declared (usd per share)	0.92	0.82	0.68	0.61	0.57
Basic shares outstanding (shares)	198	208	220	235	259
Effect of dilutive securities (shares)	2	2	1	1	643,000
Diluted shares outstanding (shares)	200	210	221	236	260

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and equivalents	1,981	1,613	1,807	1,053	1,779
Restricted cash	28	40	43	41	54
Total cash, cash equivalents, and restricted cash	2,009	1,654	1,849	1,095	1,834
House and land inventory	12,925	12,693	11,795	11,326	9,048
Residential mortgage loans available-for-sale	614	630	516	677	947
Investments in unconsolidated entities	167	215	167	147	98
Other assets	2,217	2,002	1,546	1,292	1,111
Goodwill	40	69	69	69	—
Other intangible assets	26	46	—	—	—
Deferred tax assets	49	55	65	82	139
Total assets	18,048	17,364	16,087	14,797	13,353
Accounts payable, including book overdrafts of $78,613 and $112,639 at December 31, 2025 and 2024, respectively	725	728	619	566	621
Customer deposits	388	513	675	784	845
Deferred Income Tax Liabilities, Net	448	444	302	215	166
Accrued and other liabilities	1,338	1,412	1,646	1,685	1,576
Financial Services debt	532	527	500	587	626
Notes payable	1,631	1,619	1,962	2,046	2,029
Total liabilities	5,063	5,242	5,704	5,882	5,863
Common shares, $0.01 par value; 500,000,000 shares authorized, 192,724,978 and 202,912,881 shares issued and outstanding at December 31, 2025 and 2024, respectively	2	2	2	2	2
Additional paid-in capital	3,489	3,425	3,368	3,330	3,291
Retained earnings	9,495	8,695	7,013	5,582	4,196
Total shareholders equity	12,985	12,122	10,383	8,914	7,490
Total liabilities and shareholders' equity	18,048	17,364	16,087	14,797	13,353

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Deferred income tax expense	11	151	104	107	59
Land-related charges	127	35	43	—	—
Goodwill impairment	29	0	0	—	—
Property and equipment impairments	50	0	0	—	—
Depreciation and amortization	113	89	81	71	70
Distributions of earnings from unconsolidated entities	4	3	5	49	2
Share-based compensation expense	55	55	48	43	37
Other, net	311,000	−13	−1	1	2
Inventories	−213	−787	−354	−2,257	−1,266
Residential mortgage loans available-for-sale	16	−113	161	266	−383
Other assets	−294	−490	−291	−141	−160
Accounts payable, accrued and other liabilities	−240	−286	−197	−105	641
Net cash provided by operating activities	1,871	1,681	2,197	668	1,004
Capital expenditures	−123	−119	−92	−113	−73
Investments in unconsolidated entities	−16	−16	−23	−65	−102
Distributions of capital from unconsolidated entities	64	9	3	22	54
Other investing activities, net	−6	31	−17	−6	7
Net cash used in investing activities	−80	−94	−129	−172	−124
Repayments of notes payable	−25	−356	−123	−5	−837
Financial Services borrowings (repayments), net	5	27	−87	−39	214
Debt issuance costs	−1	−2	−2	−11	0
Proceeds from liabilities related to consolidated inventory not owned	44	50	130	59	0
Payments related to consolidated inventory not owned	47	106	76	6	0
Share repurchases	−1,200	−1,200	−1,000	−1,075	−897
Excise tax on share repurchases	−12	−10	0	0	—
Cash paid for shares withheld for taxes	−24	−19	−12	−14	−11
Dividends paid	−177	−168	−142	−144	−148
Net cash used in financing activities	−1,436	−1,782	−1,313	−1,236	−1,679
Net increase (decrease)	355	−195	755	−739	−799
Interest paid (capitalized), net	17	26	11	2	11
Income taxes paid, net	699	740	784	642	457

Filings

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