PulteGroup Inc

PulteGroup Inc

PHM

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Market Cap$24.02B
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Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
PulteGroup IncPulteGroup Inc12.10.79%7%2.80.2

Earnings Call Q2 2026

July 22, 2026 - AI Summary

Strong operating momentum; orders up with mix shift toward build-to-order (BTO) - Q2 net new orders: +6% YoY to 7,536 homes; order value: +5% to $4.1B. - By buyer group: First-time +5%, Move-up +4%, Active adult +12%. - BTO execution improving: BTO = 45% of new orders in Q2 (vs mix target ~60% BTO long-term); sequentially, incentives improved as the company transitions back to BTO. - Finished spec inventory reduced meaningfully: ended Q2 at ~1.3 finished spec homes per community (vs 1.9 a year earlier), supporting a “sell from strength” posture. - Surprising/positive detail: Q2 incentives on closings down 50 bps sequentially, and option/lot premiums near $107k (comparable to prior year/quarter), implying buyers still pay for location/options.
Profitability solid with reaffirmed guidance; margins helped by mix + discount discipline - Q2 homebuilding gross margin: 25.0% (up 60 bps sequentially). - Incentives: 10.4% of revenue (down 50 bps sequentially). - House costs: ~$75/sq ft, down 5% YoY and slightly down vs Q1; company cautioned the lumber-cost tailwind fades later in 2026, but still expects costs to be down slightly YoY. - Guidance reaffirmed: FY2026 closing gross margin 24.5%–25.0% (Q3 expected 24.5%–25.0%). - Net income/EPS: Q2 net income $472M; EPS $2.48 (vs $608M; $3.03 YoY). EPS declined mainly due to lower closings and mix/volume.
Demand/geography: “stabilization” signals in most regions; Florida and Midwest stand out; West remains softer - Management said early stabilization is visible; positive YoY order growth in 4 of 5 regions, with the West still the softest. - Florida remains the key strength: Q2 orders +19% YoY. - Other supportive pockets: Midwest (e.g., Columbus/Cleveland/Chicago), Southeast (including Greenville/coastal Carolinas). - Texas: orders positive YoY, but management isn’t declaring victory yet. - Demand variability continues due to global tensions, macro uncertainty, and interest-rate movement (week-to-week noise).

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$145.20

Target Price by Analysts

16.5% upsidePulteGroup Target Price DetailsTarget Price
$146.39

Current Fair Value

17.4% upside

Undervalued by 17.4% based on the discounted cash flow analysis.

Share Statistics

Market cap$24.02 Billion
Enterprise Value$24.95 Billion
Dividend Yield$1.00 (0.79%)
Earnings per Share$11.21
Beta1.19
Outstanding Shares191,710,497

Return

Return on Equity7.05%ROE
Return on Assets5.02%
Return on Invested Capital8.40%

Valuation & Multiples

P/E Ratio12.1P/E Ratio
PEG0.02PEG
Price to Sales2.83Price to Sales
Price to Book Ratio1.86Price to Book Ratio
Enterprise Value to Revenue2.92
Enterprise Value to EBIT19.5
Enterprise Value to Net Income27
Total Debt to Enterprise0.11
Debt to Equity0.21Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
July 22, 2026
EPS Estimate
$2.36
Average shareholder expectation
Revenue Estimate
$3.94 B
Average shareholder expectation

Next Earnings Call

Expected Date
July 28, 2026
EPS Estimate
$2.39
Average shareholder expectation
Revenue Estimate
$3.94 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.0000▼ 66.34%
Total Calls100▼ 99.99%
Total Puts-▼ 100.00%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %1.43%▼ 89.34%
Total Invested$356.65M▼ 98.28%
Investors Holding180▼ 881.00%

ESG Score

No data

About PulteGroup Inc

Relevant Senate Committees

Joint Committee on Taxation

This committee provides crucial technical analysis and revenue estimates for all tax legislation. Its work directly underpins the tax policies developed by the Finance Committee, which have a profound impact on PulteGroup's financial environment and consumer purchasing power.

Finance

As the primary tax-writing committee, it controls taxation (corporate, property, capital gains) and entitlement spending. Tax policy directly influences PulteGroup's profitability, consumer affordability of homes, and overall investment in real estate.

Appropriations

This committee allocates discretionary federal spending, including funding for infrastructure projects (e.g., roads, water, sewage) crucial for new housing developments, and potentially federal housing programs or subsidies that directly impact demand.

Banking, Housing, and Urban Affairs

This committee directly regulates the financial system, including mortgage markets, housing finance (e.g., through HUD oversight), and interest rates (via Fed oversight). Its decisions profoundly impact consumer access to mortgages, financing for developments, and overall housing market health.