Explain this page
Arphra AIPlain-English read on PulteGroup, Inc.’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Headline | ||||||||
| Market cap | — | — | — | $22.66B | $23.21B | — | — | — |
| Enterprise value | — | — | — | $23.35B | $23.61B | — | — | — |
| Multiples | ||||||||
| P / E | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | 1.30 | 1.36 | — | — | — |
| EV / FCF | — | — | — | 14.95 | 13.50 | — | — | — |
| Yields | ||||||||
| Earnings yield | — | — | — | +13.60% | +9.56% | — | — | — |
| Free cash flow yield | — | — | — | +6.89% | +7.53% | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin | +27.53% | +30.21% | +29.38% | +29.09% | +26.41% | +27.69% | +27.60% | +27.83% |
| Operating margin | +18.62% | +21.51% | +21.15% | +21.67% | +17.32% | +20.55% | +20.32% | +20.23% |
| EBITDA margin | +18.78% | +21.94% | +21.98% | +22.82% | +17.47% | +21.06% | +21.12% | +20.87% |
| EBIT margin | +18.27% | +21.50% | +21.48% | +22.32% | +16.82% | +19.76% | +20.54% | +19.92% |
| Pre-tax margin | +18.27% | +21.49% | +21.48% | +22.32% | +16.82% | +20.02% | +20.77% | +19.87% |
| Net margin | +14.17% | +16.36% | +16.20% | +17.18% | +12.82% | +15.77% | +15.86% | +15.12% |
| Cost structure | ||||||||
| Cost of revenue / sales | +72.47% | +69.79% | +70.62% | +70.91% | +73.59% | +73.53% | +70.50% | +71.84% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +8.80% | +8.63% | +8.17% | +7.36% | +0.01% | +5.03% | +5.33% | +5.04% |
| Effective tax rate | +22.45% | +23.91% | +24.55% | +23.03% | +23.79% | +24.08% | +22.64% | +24.20% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Returns | ||||||||
| Return on equity (ROE) | +25.99% | +29.36% | +25.06% | +25.44% | +17.09% | +22.47% | +22.41% | +22.53% |
| Return on assets (ROA) | +14.58% | +17.69% | +16.18% | +17.76% | +12.29% | +15.51% | +16.25% | +15.12% |
| Return on capital (ROC) | +24.81% | +29.35% | +26.11% | +26.90% | +19.49% | +24.28% | +23.75% | +24.89% |
| Return on invested capital (ROIC) | +18.88% | +22.32% | +20.01% | +21.32% | +14.42% | +18.63% | +18.53% | +18.60% |
| Asset turnover | +102.88% | +108.15% | +99.84% | +103.36% | +95.92% | +98.36% | +102.46% | +100.00% |
| DuPont · ROE decomposition | ||||||||
| Net margin | +14.17% | +16.36% | +16.20% | +17.18% | +12.82% | +15.77% | +15.86% | +15.12% |
| Asset turnover (× revenue / assets) | +102.88% | +108.15% | +99.84% | +103.36% | +95.92% | +98.36% | +102.46% | +100.00% |
| Equity multiplier (× assets / equity) | +178.28% | +165.99% | +154.93% | +143.24% | +138.99% | +144.85% | +137.96% | +148.98% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Turnover | ||||||||
| Asset turnover | 1.03 | 1.08 | 1.00 | 1.03 | 0.96 | 0.98 | 1.02 | 1.00 |
| Fixed-asset turnover | 61.47 | 58.46 | 53.74 | 51.72 | 49.70 | — | — | — |
| Inventory turnover | 1.05 | 0.94 | 0.91 | 0.93 | 0.99 | — | — | — |
| Receivables turnover | 56.71 | 73.64 | 76.78 | 70.82 | 65.12 | — | — | — |
| Payables turnover | 16.03 | 19.73 | 18.32 | 17.48 | 17.57 | — | — | — |
| Days outstanding | ||||||||
| Days sales outstanding (DSO) | 6.44 | 4.96 | 4.75 | 5.15 | 5.61 | — | — | — |
| Days inventory outstanding (DIO) | 347.66 | 387.18 | 403.02 | 394.41 | 370.33 | — | — | — |
| Days payables outstanding (DPO) | 22.78 | 18.50 | 19.92 | 20.88 | 20.77 | — | — | — |
| Cash conversion cycle | 331.32 | 373.64 | 387.85 | 378.69 | 355.17 | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 0.52 | 0.26 | 0.84 | 0.55 | 0.84 | 0.71 | 0.72 | 0.72 |
| FCF / Net income | 0.48 | 0.21 | 0.81 | 0.51 | 0.79 | 0.66 | 0.69 | 0.70 |
| FCF margin | +6.78% | +3.47% | +13.10% | +8.70% | +10.10% | +10.35% | +10.88% | +10.53% |
| OCF margin | +7.31% | +4.18% | +13.68% | +9.37% | +10.81% | +11.13% | +11.37% | +10.96% |
| CapEx / Revenue | +0.53% | +0.70% | +0.57% | +0.66% | +0.71% | +0.63% | +0.65% | +0.63% |
| CapEx / D&A | 1.04 | 1.59 | 1.14 | 1.33 | 1.09 | — | — | — |
| Stock-based comp / Revenue | +0.27% | +0.27% | +0.30% | +0.30% | +0.32% | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 7.43 | 11.01 | 11.72 | 14.69 | 11.12 | 10.00 | 11.16 | 13.16 |
| EPS · basic | 7.44 | 11.07 | 11.79 | 14.82 | 11.21 | 10.15 | 11.36 | 13.26 |
| Book value / share | 28.81 | 37.75 | 46.95 | 57.77 | 65.08 | 57.07 | 60.41 | 62.26 |
| Tangible BV / share | 28.25 | 37.17 | 46.38 | 57.22 | 64.74 | 57.07 | 60.41 | 62.26 |
| Sales / share | 52.85 | 67.76 | 72.62 | 85.53 | 86.76 | 81.30 | 85.39 | 92.76 |
| Operating CF / share | 3.86 | 2.83 | 9.93 | 8.01 | 9.38 | 9.05 | 9.71 | 10.17 |
| Free cash flow / share | 3.58 | 2.35 | 9.52 | 7.45 | 8.76 | 8.42 | 9.29 | 9.77 |
| Dividends / share | 0.57 | 0.61 | 0.64 | 0.80 | 0.89 | 0.79 | 0.82 | 0.87 |
| Payout ratio | +7.60% | +5.51% | +5.47% | +5.44% | +7.96% | +6.14% | +6.09% | +6.19% |
| Retention ratio | +92.40% | +94.49% | +94.53% | +94.56% | +92.04% | +93.86% | +93.91% | +93.81% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 7y CAGR |
|---|---|---|---|---|---|---|---|---|---|
| Top-line | |||||||||
| Revenue · YoY | — | +16.50% | +0.37% | +11.74% | -3.54% | -5.61% | +4.95% | +7.58% | +4.30% |
| Gross profit · YoY | — | +27.81% | -2.38% | +10.63% | -12.42% | -1.03% | +4.57% | +8.48% | +4.46% |
| Profit | |||||||||
| Operating income · YoY | — | +34.61% | -1.33% | +14.53% | -22.91% | +12.01% | +3.74% | +7.12% | +5.55% |
| EBITDA · YoY | — | +36.06% | +0.56% | +16.00% | -26.17% | +13.79% | +5.27% | +6.29% | +5.88% |
| Net income · YoY | — | +34.48% | -0.57% | +18.48% | -28.04% | +16.15% | +5.52% | +2.61% | +5.28% |
| Operating | |||||||||
| EBIT · YoY | — | +37.03% | +0.29% | +16.14% | -27.33% | +10.93% | +9.09% | +4.29% | +5.59% |
| R&D · YoY | — | — | — | — | — | — | — | — | — |
| Per-share | |||||||||
| EPS · diluted · YoY | — | +48.18% | +6.45% | +25.34% | -24.30% | -10.03% | +11.54% | +17.93% | +8.51% |
| EPS · basic · YoY | — | +48.79% | +6.50% | +25.70% | -24.36% | -9.48% | +11.93% | +16.74% | +8.61% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Leverage | ||||||||
| Total debt | $2.82B | $2.81B | $2.62B | $2.34B | $2.4B | $2.36B | $2.54B | $2.62B |
| Net debt | $983.3M | $1.72B | $774.03M | $686.2M | $394.37M | $569.73M | $715.32M | $575.24M |
| Net debt / EBITDA | 0.38 | 0.49 | 0.22 | 0.17 | 0.13 | 0.17 | 0.20 | 0.15 |
| Debt / equity | 0.38 | 0.32 | 0.25 | 0.19 | 0.19 | 0.21 | 0.21 | 0.21 |
| Debt / assets | +21.10% | +19.01% | +16.31% | +13.48% | +13.31% | +14.23% | +15.18% | +14.18% |
| Equity / assets | +56.09% | +60.24% | +64.54% | +69.81% | +71.95% | +69.04% | +72.48% | +67.12% |
| Coverage | ||||||||
| EBITDA / interest expense | 5140.04 | 12361.83 | 7527.85 | 8550.15 | 4998.06 | 6937.98 | 7041.00 | 7032.13 |
| Operating income / interest | 5094.07 | 12120.27 | 7241.59 | 8120.87 | 4956.49 | 6772.60 | 6772.84 | 6817.26 |
| Interest expense | $502K | $284K | $469K | $479K | $605K | $495.95K | $514.47K | $547.5K |
| Liquidity | ||||||||
| Current ratio | 3.26 | 4.10 | 4.87 | 5.72 | 5.91 | — | — | — |
| Quick ratio | 0.58 | 0.40 | 0.68 | 0.68 | 0.88 | — | — | — |
| Cash ratio | 0.51 | 0.34 | 0.61 | 0.59 | 0.78 | — | — | — |
| Working capital | $8.12B | $10.12B | $11.78B | $13.15B | $12.63B | — | — | — |
| Working capital / revenue | +59.09% | +63.22% | +73.34% | +73.29% | +72.94% | — | — | — |
Sourced from key_metrics + financial_ratios (loaded by load_fundamentals_extended.py).
Valuation
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| P / E | — | — |
| P / B | — | — |
| EV / EBITDA | — | — |
| EV / Sales | 1.36x | 1.30x |
| Earnings yield | 9.6% | 13.6% |
| FCF yield | 7.5% | 6.9% |
Returns
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | — | — |
| ROE | 17.1% | 25.4% |
| ROA | 12.3% | 17.8% |
| ROIC | 14.3% | 19.8% |
Leverage & liquidity
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Debt / equity | — | — |
| Net debt / EBITDA | 0.13 | 0.17 |
| Interest coverage | — | — |
| Current ratio | 5.91x | 5.72x |
| Quick ratio | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).