# PulteGroup, Inc. (PHM)

> Source: Nexqual · https://nexqual.com/PHM · data as of 2026-10-22 20:03 UTC · cite as "Nexqual, PulteGroup, Inc. (PHM), nexqual.com/PHM" · informational, not investment advice.

**Price:** USD 119.48 (+5.84% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 112.89 · day 109.46–119.73 · 52w 107.16–144.5 · market cap $22.8B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $16.4B, net income $1.91B (11.6% margin), free cash flow $1.51B (SEC filings).
- Valuation: P/E 11.9x (avg 8.9x at the last 3 fiscal year-ends).
- 3 of 80 tracked superinvestors hold PHM (13F, Q2 2026): 0 new, 1 added, 2 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $1.3M; 2 not under a Rule 10b5-1 plan ($1.3M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.39 on a 1–5 scale) (18 analysts), mean target USD 134.47 (range 100–162).
- Total return with dividends: 1Y -0.3% vs S&P 500 +14.9%; 5Y +151.9% vs S&P 500 +80.3%.
- Next earnings: 2026-10-22, EPS estimate USD 2.54, revenue estimate $4.30B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $13.7B | $16.0B | $16.1B | $17.9B | $17.3B | $16.4B |
| Net income | $1.95B | $2.62B | $2.60B | $3.08B | $2.22B | $1.91B |
| EPS (diluted) | $7.43 | $11.01 | $11.72 | $14.69 | $11.12 | — |
| Free cash flow | $931M | $556M | $2.10B | $1.56B | $1.75B | $1.51B |
| Net margin | 14.2% | 16.4% | 16.2% | 17.2% | 12.8% | 11.6% |
| Revenue growth | +24.5% | +16.5% | +0.4% | +11.7% | -3.5% | — |
| Cash + short-term investments | $1.78B | $1.05B | $1.81B | $1.61B | $1.98B | — |
| Total debt | $63.9M | $77.3M | $73.5M | $31.1M | $43.9M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 11.9x · P/S 1.4x · P/FCF 15.0x · P/B 1.8x · FCF yield 6.65% · Earnings yield 8.38% · Dividend yield (paid, TTM) 0.83% · Buyback yield (TTM) 5.63%
P/E at fiscal year-ends: Dec 2025 10.5x, Dec 2024 7.4x, Dec 2023 8.8x.

## Superinvestors (SEC 13F-HR, Q2 2026)
3 of 80 tracked investors hold PHM. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Greenhaven Associates |  | 8.64% | $749M | Reduced -0.8% |
| Third Avenue Management |  | 2.09% | $13.1M | Reduced -0.0% |
| First Eagle Investment | First Eagle Investment Management | <0.01% | $649K | Added +56.1% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-05-27 | Koart Matthew William | Exec. VP & COO | 7,457 | $895K | 21% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-08 | Snyder Lila | Director | 3,339 | $391K | 48.5% | No | Too little history (no open-market trades in 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.39 on a 1–5 scale), 18 analysts; mean target USD 134.47 (low 100, high 162).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-15 | Citigroup | Target lowered | Neutral | $134 → $122 |
| 2026-10-15 | RBC Capital | Target lowered | Sector Perform | $116 → $111 |
| 2026-10-06 | Barclays | Target lowered | Equal-Weight | $124 → $110 |
| 2026-10-01 | Morgan Stanley | Initiated | Equal-Weight | $128 |
| 2026-09-25 | Evercore ISI Group | Target lowered | Outperform | $162 → $154 |
| 2026-09-16 | Truist Securities | Target lowered | Buy | $145 → $136 |
| 2026-09-11 | Wells Fargo | Target lowered | Overweight | $150 → $145 |
| 2026-09-04 | StoneX | Initiated | Buy | $148 |
| 2026-08-24 | Wolfe Research | Upgrade | Peer Perform → Outperform | $129 |
| 2026-07-24 | Citigroup | Target lowered | Neutral | $138 → $134 |
| 2026-07-23 | RBC Capital | Target raised | Sector Perform | $115 → $116 |
| 2026-07-23 | Barclays | Target raised | Equal-Weight | $123 → $124 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -0.3% | +151.9% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -0.3% | +20.2% |
| Volatility (annualized) | 33.1% | 33.5% |
| Max drawdown | -22.8% (Feb 2026→Oct 2026) | -36.3% (Oct 2024→Apr 2025) |

## Peers (Residential Construction)
LEN (Lennar Corporation) USD 84.45 +8.69% · NVR (NVR, Inc.) USD 6,110.63 +3.57% · TOL (Toll Brothers, Inc.) USD 141.08 +4.47% · DHI (D.R. Horton, Inc.) USD 147.66 +6.25% · IBP (Installed Building Products, In) USD 198.13 +5.46% · SKY (Champion Homes, Inc.) USD 79.72 +5.27%

## More
Full page: https://nexqual.com/PHM · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in PHM's own 10-K filed 2026-02-04 (https://www.sec.gov/Archives/edgar/data/822416/000082241626000007/phm-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Pulte Mortgage | "A large majority of our customers finance their home purchases through mortgage loans, many through Pulte Mortgage." |
| Customer | Centex | "Through our brands, which include Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods, we offer a wide variety of home designs with varying levels of options and amenities to our major …" |

## Revenue by business segment (quarter ended 2026-09-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Homebuilding | $3.87B | 97.3% | -10.1% |
| Financial Services | $107.0M | 2.7% | +3.7% |
| Total revenue | $3.97B | 100% | — |

## Revenue by product line (quarter ended 2026-09-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Home sale revenues | $3.86B | 97.1% | -9.2% |
| Land sale and other revenues | $7.8M | 0.2% | -85.3% |
| Total revenue | $3.97B | 100% | — |
The lines above cover 97.3% of total revenue.

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $2.54 | $3.28 | -22.8% | $4.30B | 8 |
| Next quarter (ends 2027-03-31) | $1.82 | $2.02 | -10.1% | $3.47B | 5 |
| Current fiscal year (ends 2026-12-31) | $9.33 | $10.18 | -8.3% | $15.54B | 9 |
| Next fiscal year (ends 2027-12-31) | $9.97 | $11.24 | -11.3% | $16.20B | 13 |

## Options: expected move (Cboe, 15-min delayed)

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 41.1% | ±5.1% |
| 2026-11-06 | 14 | 36.6% | ±6.5% |
| 2026-11-13 | 21 | 37.1% | ±7.3% |
| 2026-11-20 | 28 | 38.3% | ±8.6% |
| 2026-11-27 | 35 | 36.7% | ±9.2% |
| 2026-12-04 | 42 | 34.7% | ±9.5% |
| 2026-12-18 | 56 | 34.7% | ±11.0% |
| 2027-01-15 | 84 | 33.7% | ±13.0% |