PHM
PulteGroup, Inc.
PHM's fundamentals are weak and it looks expensive: trading at 14x earnings, above its usual 8.8x. Analysts expect earnings to hold roughly steady, though they disagree widely on how much.
PHM Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Stable | |
| Stable | |
| Strong |
PHM's balance sheet is currently strong, and its profitability and cash flow are stable, but its revenue is under pressure.
PHM PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 5.8x | $54.71 | -57% |
| Fair | 8.8x | $82.04 | -35% |
| Expensive | 11x | $99.83 | -21% |
| Current | 14x | $127 | — |
| Forward | 14x | $127 | — |
Historical ranges are pointers, not guarantees.
PHM's PE is in its expensive range at 13.6x. On analysts' estimates for next year's earnings, today's price would be 13.7x.
PHM Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Stable | |
| Stable | |
| Weakening | |
| Limited | |
| Low |
Analysts expect PHM's profitability to weaken, with its earnings and revenue holding steady. However, they disagree widely on these estimates.
PHM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.29 | -0.7% |
| Q3 2026 | $9.36 | -28% |
| Q2 2026 | $9.79 | -27% |
| Q1 2026 | $10.34 | -27% |
| Q4 2025 | $11.12 | -24% |
| Q3 2025 | $12.97 | -4.2% |
| Q2 2025 | $13.36 | +2.1% |
| Q1 2025 | $14.16 | +14% |
| Q4 2024 | $14.69 | +25% |
PHM's earnings per share have fallen from their peak: $9.36 over the past year, against $14.69 in late 2024.
PHM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4B | -9.8% |
| Q2 2026 | $4B | -9.6% |
| Q1 2026 | $3.4B | -12% |
| Q4 2025 | $4.6B | -6.3% |
| Q3 2025 | $4.4B | -1.6% |
| Q2 2025 | $4.4B | -4.3% |
| Q1 2025 | $3.9B | -1.4% |
| Q4 2024 | $4.9B | +15% |
PHM's revenue has slid since its 2022 peak: $4B last quarter, down 9.8% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 16% | -1.7 points |
| Q2 2026 | 16% | -2.7 points |
| Q1 2026 | 13% | -4.3 points |
| Q4 2025 | 14% | -9.8 points |
| Q3 2025 | 17% | -2.8 points |
| Q2 2025 | 18% | -4.5 points |
| Q1 2025 | 18% | -4.5 points |
| Q4 2024 | 24% | +2 points |
PHM's operating margin was 16% last quarter, down 1.7 points from the same quarter a year ago.
PHM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $437.2M | -33% |
| Q2 2026 | -$12.9M | -105% |
| Q1 2026 | $134.4M | +28% |
| Q4 2025 | $739.8M | +36% |
| Q3 2025 | $651.1M | +56% |
| Q2 2025 | $253M | -35% |
| Q1 2025 | $104.6M | -51% |
| Q4 2024 | $543.1M | +106% |
PHM still generates free cash flow, though less than at its 2022 peak: $1.3B over the past year.
PHM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.4% | -2.7M shares |
| 1 year | -5.2% | -10.3M shares |
| 3 years | -14% | -31.8M shares |
| 5 years | -27% | -71.1M shares |
| Available history | -31% | -83.6M shares |
PHM has 188M diluted shares, down 5.2% from a year ago, with $1.3B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $350.4M |
| Q2 2026 | $373M |
| Q1 2026 | $308.2M |
| Q4 2025 | $300M |
| Q3 2025 | $300M |
| Q2 2025 | $300M |
| Q1 2025 | $300M |
| Q4 2024 | $320M |
PHM spent $1.3B buying back its own shares over the past year, up 9.1% from the year before.
PHM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.2x | Very low |
| Q2 2026 | 0.2x | Very low |
| Q1 2026 | -0.0x | Net Cash |
| Q4 2025 | -0.6x | Net Cash |
| Q3 2025 | 0.0x | Very low |
| Q2 2025 | 0.1x | Very low |
| Q1 2025 | 0.1x | Very low |
| Q4 2024 | -0.4x | Net Cash |
PHM's net debt is less than a year of its operating earnings (EBITDA).
PHM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 53.2 | Neutral |
| Stochastic | 66.1 | Neutral |
PHM's weekly RSI is 53 (neutral) and its Stochastic is 66 (neutral).
PHM PE vs Consumer Cyclical Sector
| Metric | PHM | Sector median | Relative |
|---|---|---|---|
| PE | 14x | 18x | 25% below |
| PE % | 99 | 47 | 52 pts above |
PHM is trading at 14x earnings, a 25% discount to the Consumer Cyclical sector's median of 18x.
PHM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $120.8 | 5% above |
| 20 week MA | $124.3 | 2.1% above |
| 50 week MA | $124.4 | 2% above |
| 100 week MA | $118.8 | 6.8% above |
| 200 week MA | $107.7 | 18% above |
PHM is in an uptrend: it's above all five of its weekly moving averages, and 18% above its 200-week average.
PHM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $38.8 | $45.2 | +17% |
| 2021 | $45.2 | $54.7 | +21% |
| 2022 | $54.7 | $45.8 | -16% |
| 2023 | $45.8 | $103.2 | +125% |
| 2024 | $103.2 | $109.5 | +6.1% |
| 2025 | $109.5 | $119.2 | +8.8% |
| 2026 YTD | $119.2 | $126.9 | +6.5% |
PHM has finished higher in five of the last six years. It's up 6.5% so far in 2026.