PulteGroup Inc. (PHM) financial statements: income statement, balance sheet and cash flow
PulteGroup Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), PulteGroup Inc. reported revenue of $17.3B (-3.5% year on year) and net income of $2.2B (-28.0% year on year).
Income statement
PulteGroup Inc. income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Revenues
$17.3B
$17.9B
$16.1B
$16.2B
Cost of revenues
($12.5B)
($12.5B)
($11.2B)
($11.2B)
Financial Services expenses
($231.9M)
($224.1M)
($187.3M)
($180.7M)
Selling, general, and administrative expenses
($1.6B)
($1.3B)
($1.3B)
($1.4B)
Equity income from unconsolidated entities, net
$4.1M
$44.2M
$4.6M
—
Other income (expense), net
($91.5M)
$61.7M
$37.2M
($13.7M)
Income before income taxes
$2.9B
$4.0B
$3.4B
$3.4B
Income tax expense
($692.6M)
($922.6M)
($846.9M)
($822.2M)
Net income
$2.2B
$3.1B
$2.6B
$2.6B
Basic (usd per share)
$11.21
$14.82
$11.79
$11.07
Diluted (usd per share)
$11.12
$14.69
$11.72
$11.01
Cash dividends declared (usd per share)
$0.92
$0.82
$0.68
$0.61
Basic shares outstanding (shares)
198.0M
208.1M
220.0M
235.0M
Effect of dilutive securities (shares)
1.6M
1.7M
1.2M
1.2M
Diluted shares outstanding (shares)
199.5M
209.8M
221.2M
236.2M
PulteGroup Inc. income statement, quarters
Line item
Sep 30, 2026 · Q3
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Revenues
$4.0B
$4.0B
$3.4B
$4.4B
Cost of revenues
($2.9B)
($2.9B)
($2.5B)
($3.2B)
Financial Services expenses
($61.5M)
($60.7M)
($59.2M)
($58.9M)
Selling, general, and administrative expenses
($397.2M)
($383.0M)
($380.3M)
($400.7M)
Equity income from unconsolidated entities
($2.8M)
$4.0M
$879.0K
$2.4M
Other income, net
$19.7M
$3.9M
$6.7M
$1.8M
Income before income taxes
$625.2M
$622.4M
$449.4M
$767.8M
Income tax expense
($149.5M)
($150.4M)
($102.4M)
($182.0M)
Net income
$475.7M
$472.0M
$347.0M
$585.8M
Basic earnings (usd per share)
$2.55
$2.49
$1.81
$2.98
Diluted earnings (usd per share)
$2.53
$2.48
$1.79
$2.96
Cash dividends declared (usd per share)
$0.26
$0.26
$0.26
$0.22
Basic shares outstanding (shares)
186.6M
189.4M
192.1M
196.5M
Effect of dilutive securities (shares)
1.2M
1.2M
1.3M
1.6M
Diluted shares outstanding (shares)
187.8M
190.6M
193.4M
198.1M
Balance sheet
PulteGroup Inc. balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and equivalents
$2.0B
$1.6B
$1.8B
$1.1B
Restricted cash
$27.9M
$40.4M
$42.6M
$41.4M
Total cash, cash equivalents, and restricted cash
$2.0B
$1.7B
$1.8B
$1.1B
House and land inventory
$12.9B
$12.7B
$11.8B
$11.3B
Residential mortgage loans available-for-sale
$613.7M
$629.6M
$516.1M
$677.2M
Investments in unconsolidated entities
$167.3M
$215.4M
$166.9M
$146.8M
Other assets
$2.2B
$2.0B
$1.5B
$1.3B
Goodwill
$40.4M
$68.9M
$68.9M
—
Other intangible assets
$26.2M
—
—
—
Deferred tax assets
$49.2M
$55.0M
$64.8M
$82.3M
Total assets
$18.0B
$17.4B
$16.1B
$14.8B
Accounts payable, including book overdrafts of $78,613 and $112,639 at December 31, 2025 and 2024, respectively
$724.9M
$728.0M
$619.0M
$566.0M
Customer deposits
$387.8M
$512.6M
$675.1M
$783.6M
Deferred Income Tax Liabilities, Net
$448.5M
$443.6M
$302.2M
$215.4M
Accrued and other liabilities
$1.3B
$1.4B
$1.6B
$1.7B
Financial Services debt
$532.3M
$526.9M
$499.6M
$586.7M
Notes payable
$1.6B
$1.6B
$2.0B
$2.0B
Total liabilities
$5.1B
$5.2B
$5.7B
$5.9B
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
1.9M
2.0M
2.1M
2.3M
Additional paid-in capital
$3.5B
$3.4B
$3.4B
$3.3B
Retained earnings
$9.5B
$8.7B
$7.0B
$5.6B
Total shareholders’ equity
$13.0B
$12.1B
$10.4B
$8.9B
Total liabilities and shareholders' equity
$18.0B
$17.4B
$16.1B
$14.8B
PulteGroup Inc. balance sheet, quarters
Line item
Sep 30, 2026
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Cash and equivalents
$1.4B
$1.3B
$1.8B
$1.5B
Restricted cash
$38.1M
$41.6M
$36.4M
$28.0M
Total cash, cash equivalents, and restricted cash
$1.4B
$1.4B
$1.8B
$1.5B
House and land inventory
$14.1B
$13.7B
$13.3B
$13.4B
Residential mortgage loans available-for-sale
$433.9M
$549.7M
$509.3M
$486.1M
Investments in unconsolidated entities
$141.7M
$202.8M
$168.1M
$179.2M
Other assets
$2.3B
$2.3B
$2.3B
$2.2B
Goodwill
$40.4M
$40.4M
$40.4M
$68.9M
Other intangible assets
$22.0M
$23.4M
$24.8M
$39.3M
Deferred tax assets
$45.3M
$46.8M
$48.1M
$49.7M
Total assets
$18.5B
$18.3B
$18.2B
$17.9B
Accounts payable
$747.2M
$717.9M
$688.5M
$731.1M
Customer deposits
$515.9M
$512.3M
$466.6M
$470.7M
Deferred tax liabilities
$469.2M
$459.6M
$456.8M
$490.2M
Accrued and other liabilities
$1.5B
$1.3B
$1.4B
$1.3B
Financial Services debt
$383.2M
$477.9M
$455.1M
$404.2M
Notes payable
$1.8B
$1.8B
$1.8B
$1.6B
Total liabilities
$5.4B
$5.2B
$5.2B
$5.0B
Shareholders' equity
$13.1B
$13.0B
$13.0B
$12.8B
Total liabilities and shareholders' equity
$18.5B
$18.3B
$18.2B
$17.9B
Cash flow statement
PulteGroup Inc. cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$2.2B
$3.1B
$2.6B
$2.6B
Deferred income tax expense
$10.8M
$151.1M
$104.3M
$106.6M
Land-related charges
$126.9M
$34.6M
$43.1M
$66.7M
Goodwill impairment
$28.6M
—
—
$0
Property and equipment impairments
$49.6M
—
—
—
Depreciation and amortization
$112.5M
$89.2M
$80.8M
$70.9M
Equity income from unconsolidated entities
($4.1M)
($44.2M)
($4.6M)
($50.7M)
Distributions of earnings from unconsolidated entities
$4.2M
$2.6M
$4.6M
$49.2M
Share-based compensation expense
$54.8M
$54.7M
$48.2M
$43.0M
Other, net
$311.0K
($13.5M)
($758.0K)
$1.4M
Inventories
($213.4M)
($787.5M)
($354.0M)
($2.3B)
Residential mortgage loans available-for-sale
$15.9M
($113.3M)
$160.9M
$266.3M
Other assets
($293.9M)
($489.6M)
($290.6M)
($140.8M)
Accounts payable, accrued and other liabilities
($239.7M)
($286.5M)
($196.9M)
($104.8M)
Net cash provided by operating activities
$1.9B
$1.7B
$2.2B
$668.5M
Capital expenditures
($122.7M)
($118.5M)
($92.2M)
($112.7M)
Investments in unconsolidated entities
($15.7M)
($16.0M)
($23.4M)
($64.7M)
Distributions of capital from unconsolidated entities
$63.7M
$9.2M
$3.3M
$21.7M
Other investing activities, net
($5.7M)
$30.9M
($16.8M)
($5.7M)
Net cash used in investing activities
($80.4M)
($94.5M)
($129.1M)
($171.7M)
Repayments of notes payable
($24.5M)
($355.8M)
($123.3M)
($4.9M)
Financial Services borrowings (repayments), net
$5.4M
$27.3M
($87.1M)
($39.4M)
Debt issuance costs
($1.4M)
($1.5M)
($1.6M)
($11.2M)
Proceeds from liabilities related to consolidated inventory not owned
$44.1M
$50.0M
$129.7M
$58.7M
Payments related to consolidated inventory not owned
$46.7M
$105.8M
$76.3M
$5.9M
Share repurchases
($1.2B)
($1.2B)
($1.0B)
($1.1B)
Excise tax on share repurchases
($11.6M)
($9.7M)
—
—
Cash paid for shares withheld for taxes
-24.3M
-18.6M
-12.0M
-14.3M
Dividends paid
($176.7M)
($167.7M)
($142.5M)
($144.1M)
Net cash used in financing activities
($1.4B)
($1.8B)
($1.3B)
($1.2B)
Net increase (decrease)
$355.1M
($195.5M)
$754.6M
($739.0M)
Cash, cash equivalents, and restricted cash at beginning of period
$1.7B
$1.8B
$1.1B
$1.8B
Cash, cash equivalents, and restricted cash at end of period
$2.0B
$1.7B
$1.8B
$1.1B
Interest paid (capitalized), net
$17.2M
$26.1M
$10.8M
$1.8M
Income taxes paid, net
$698.8M
$739.7M
$784.5M
$641.9M
PulteGroup Inc. cash flow statement, quarters
Line item
Sep 30, 2026 · YTD
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Net income
$1.3B
$819.0M
$347.0M
$1.7B
Deferred income tax expense
$24.5M
$13.4M
$9.3M
$51.9M
Land-related charges
$65.0M
$27.6M
$10.9M
$69.8M
Loss on debt retirement
$2.6M
$2.6M
$2.6M
—
Depreciation and amortization
$76.6M
$49.9M
$24.5M
$75.5M
Equity income (loss) from unconsolidated entities, net
($2.1M)
($4.8M)
($879.0K)
($3.3M)
Distributions of income from unconsolidated entities
$4.8M
$4.8M
$0
$3.1M
Share-based compensation expense
$44.7M
$34.2M
$19.4M
$43.2M
Other, net
($21.5M)
$569.0K
($83.0K)
($739.0K)
Inventories
($1.1B)
($807.3M)
($376.4M)
($635.9M)
Residential mortgage loans available-for-sale
$179.7M
$63.9M
$104.4M
$143.5M
Other assets
($127.1M)
($94.8M)
($36.7M)
($203.0M)
Accounts payable, accrued and other liabilities
$244.2M
$67.8M
$55.7M
($161.1M)
Net cash provided by operating activities
$637.0M
$176.8M
$159.8M
$1.1B
Capital expenditures
($78.2M)
($55.3M)
($25.4M)
($91.4M)
Investments in unconsolidated entities
($45.8M)
($40.9M)
($2.9M)
($9.2M)
Distributions of capital from unconsolidated entities
$21.6M
$5.5M
$3.0M
$45.7M
Proceeds from asset dispositions
$90.6M
—
—
—
Other investing activities, net
$3.0M
$2.9M
$383.0K
($9.2M)
Net cash used in investing activities
($8.8M)
($87.8M)
($24.9M)
($64.1M)
Proceeds from debt issuance
$794.8M
$794.8M
$794.8M
—
Repayments of notes payable
($612.7M)
($600.7M)
($599.7M)
($9.2M)
Financial Services repayments, net
($149.1M)
($54.4M)
($77.3M)
($122.7M)
Debt issuance costs
($23.4M)
($22.8M)
($22.6M)
($1.4M)
Proceeds from liabilities related to consolidated inventory not owned
$26.6M
$18.3M
$6.2M
$25.6M
Payments related to consolidated inventory not owned
($31.6M)
($23.2M)
($4.6M)
($33.0M)
Share repurchases
($1.0B)
($681.2M)
($308.2M)
($900.0M)
Excise tax on share repurchases
($11.5M)
($11.5M)
—
($11.6M)
Cash paid for shares withheld for taxes
-39.6M
-38.1M
-36.8M
-24.3M
Dividends paid
($150.8M)
($101.8M)
($52.0M)
($133.7M)
Net cash used in financing activities
($1.2B)
($720.5M)
($300.2M)
($1.2B)
Net increase (decrease) in cash, cash equivalents, and restricted cash
($600.7M)
($631.4M)
($165.4M)
($174.1M)
Cash, cash equivalents, and restricted cash at beginning of period
$2.0B
$2.0B
$2.0B
$1.7B
Cash, cash equivalents, and restricted cash at end of period