PulteGroup, Inc. (PHM) Income Statement
PHM 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsPHM revenue and net income
Where PHM's revenue goes
2025Each bar shows an amount and its share of revenue. PHM kept 12.8% of revenue as net income.
PHM profit margins
PHM growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −3.5% | +2.2% | +9.4% | +11.2% |
| Gross profit | −12.4% | −1.8% | +10.5% | +12.4% |
| Operating income | −22.9% | −4.6% | +10.9% | +13.8% |
| Net income | −28.0% | −5.4% | +9.5% | +16.2% |
| EPS (diluted) | −20.9% | +1.0% | +18.7% | +24.3% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
PHM quarterly EPS vs estimates
PulteGroup beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: October 22, 2026 (estimate $2.62).
PHM income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.31B | $17.95B | $16.06B | $16.23B | $13.93B | $11.04B | $10.21B | $10.19B | $8.57B | $7.67B |
| Cost of revenue | $12.74B | $12.73B | $15.74B | $11.39B | $10.14B | $8.26B | $7.82B | $7.81B | $6.71B | $5.73B |
| Gross profit | $4.57B | $5.22B | $29,300 | $4.83B | $3.78B | $2.78B | $2.40B | $2.37B | $1.86B | $1.94B |
| Research & development | — | — | — | — | — | — | — | — | $0 | $0 |
| Sales, general & admin | $1.57B | $1.32B | $1.31B | $1.38B | $1.21B | $1.01B | $1.04B | $1.01B | $891.6M | $957.1M |
| Total operating expenses | $1.57B | $1.33B | $1.31B | $1.38B | $1.21B | $1.01B | $1.04B | $1.01B | $891.6M | $957.1M |
| Operating income | $3.00B | $3.89B | −$1.31B | $3.45B | $2.64B | $1.79B | $1.35B | $1.35B | $953.0M | $968.9M |
| Interest income | $44.4M | $59.5M | $42.6M | $2.0M | $2.0M | $6.8M | $16.7M | $7.6M | $2.5M | $3.2M |
| Interest expense | $605,000 | $479,000 | $415,000 | $284,000 | $502,000 | $4.2M | $584,000 | $618,000 | $503,000 | $686,000 |
| Income before taxes | $2.91B | $4.01B | $3.32B | $3.44B | $2.51B | $1.73B | $1.34B | $1.35B | $938.8M | $933.9M |
| Income taxes | $692.6M | $922.6M | $892.7M | $822.2M | $563.5M | $321.9M | $322.9M | $325.5M | $491.6M | $331.1M |
| Net income | $2.22B | $3.08B | $2.60B | $2.62B | $1.95B | $1.41B | $1.02B | $1.02B | $447.2M | $602.7M |
| EBITDA | $3.02B | $4.10B | −$1.23B | $3.52B | $2.71B | $1.85B | $1.41B | $1.40B | $1.00B | $1.02B |
| EPS (diluted) | $11.44 | $14.46 | $11.77 | $11.10 | $7.36 | $4.86 | $3.60 | $3.60 | $1.62 | $1.71 |
| Gross margin | 26.4% | 29.1% | 0.0% | 29.8% | 27.2% | 25.2% | 23.5% | 23.3% | 21.7% | 25.3% |
| Operating margin | 17.3% | 21.7% | −8.2% | 21.3% | 18.9% | 16.2% | 13.2% | 13.2% | 11.1% | 12.6% |
| Net margin | 12.8% | 17.2% | 16.2% | 16.1% | 14.0% | 12.7% | 10.0% | 10.0% | 5.2% | 7.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.98B | $3.41B | $4.61B | $4.40B | $4.40B | $3.89B | $4.92B | $4.48B | $4.60B | $3.95B | $4.29B | $4.00B |
| Cost of revenue | $3.16B | $2.59B | $3.47B | $3.18B | $3.21B | $2.83B | $3.57B | $3.18B | $3.21B | $2.78B | $3.04B | $2.74B |
| Gross profit | $825.5M | $822.1M | $1.14B | $1.22B | $1.20B | $1.07B | $1.35B | $1.30B | $1.39B | $1.17B | $1.25B | $1.26B |
| Sales, general & admin | $383.0M | $380.3M | $389.5M | $400.7M | $390.5M | $393.3M | $195.6M | $406.9M | $361.1M | $357.6M | $308.3M | $353.2M |
| Total operating expenses | $383.0M | $380.3M | $389.5M | $459.6M | $392.8M | $395.7M | $198.1M | $409.4M | $363.6M | $360.1M | $310.9M | $353.2M |
| Operating income | $442.5M | $440.4M | $753.0M | $761.3M | $805.5M | $671.9M | $1.16B | $891.5M | $1.03B | $811.5M | $938.6M | $910.8M |
| Interest income | $10.4M | $13.2M | $12.8M | $11.8M | $9.6M | $10.3M | $11.2M | $13.7M | $17.1M | $17.4M | $19.8M | $19.3M |
| Interest expense | $106 | $164,000 | $166,999 | $170,000 | $141,000 | $127,000 | $127,000 | $120,000 | $117,000 | $115,000 | $122,000 | $120,000 |
| Income before taxes | $622.4M | $449.4M | $655.2M | $767.8M | $807.2M | $681.1M | $1.18B | $906.2M | $1.05B | $868.6M | $946.8M | $847.3M |
| Income taxes | $150.4M | $102.4M | $153.6M | $182.0M | $198.7M | $158.3M | $269.5M | $208.3M | $239.2M | $205.7M | $235.8M | −$208.5M |
| Net income | $472.0M | $347.0M | $501.6M | $585.8M | $608.5M | $522.8M | $913.2M | $697.9M | $809.1M | $663.0M | $711.0M | $638.8M |
| EBITDA | $442.5M | $474.1M | $692.2M | $793.6M | $832.3M | $705.9M | $1.21B | $928.4M | $1.07B | $889.8M | $968.0M | $910.8M |
| EPS (diluted) | $2.48 | $1.79 | $2.88 | $2.96 | $3.03 | $2.57 | $4.43 | $3.35 | $3.58 | $3.10 | $3.52 | $2.90 |
| Gross margin | 20.7% | 24.1% | 24.8% | 27.8% | 27.2% | 27.4% | 27.5% | 29.1% | 30.3% | 29.7% | 29.1% | 31.6% |
| Operating margin | 11.1% | 12.9% | 16.3% | 17.3% | 18.3% | 17.3% | 23.5% | 19.9% | 22.4% | 20.5% | 21.9% | 22.7% |
| Net margin | 11.9% | 10.2% | 10.9% | 13.3% | 13.8% | 13.4% | 18.6% | 15.6% | 17.6% | 16.8% | 16.6% | 16.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in PHM's financial statements (latest annual report filed February 4, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
PHM financial results
In fiscal year 2025 (ended December 31, 2025), PulteGroup reported revenue of $17.3 billion, down 3.5% from the year before. It had net income of $2.2 billion (down 28.0%), a net profit margin of 12.8%. Diluted earnings per share came to $11.44. Over five years revenue grew at an average rate of 9.4% a year.
See the PHM stock overview for the latest quote and news, or the PHM chart for price history and technical indicators.
PHM income statement FAQ
What is PulteGroup's annual revenue?
PulteGroup reported total revenue of $17.3 billion for fiscal year 2025, which ended on December 31, 2025. That was down 3.5% from $17.9 billion the previous year.
Is PulteGroup profitable?
Yes. PulteGroup reported net income of $2.2 billion in fiscal 2025, a net profit margin of 12.8%; its operating margin was 17.3%.
What is PulteGroup's gross margin?
PulteGroup's gross margin was 26.4% in fiscal 2025: for every $100 of revenue, PulteGroup kept $26 after the direct cost of its products and services.
How fast is PulteGroup growing?
Revenue grew 9.4% a year on average over the last five fiscal years, from $11.0 billion to $17.3 billion.
What are PulteGroup's earnings per share?
PulteGroup earned $11.44 per diluted share in fiscal 2025, compared with $14.46 a year earlier.
When will PulteGroup report its next earnings?
PulteGroup is expected to report results for the quarter ending September 30, 2026 on October 22, 2026 before the market opens.
When does PulteGroup's fiscal year end?
PulteGroup's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 4, 2026.