PulteGroup (PHM) Investor Presentation summary

Investment highlights

• Diversified business platform and resilient operating model drive top-tier, through-cycle returns.

• Profitable growth achieved through local market scale, rigorous underwriting, and geographic/buyer diversification.

• Fully integrated operations optimize land acquisition and deliver premium returns.

• Strong financial position with robust cash flow supports business priorities and shareholder returns.

• Durable, high-return business model consistently delivers exceptional margins and value.

Financial performance and returns

• Achieved 21% return on equity, placing in the top quartile relative to the S&P 500.

• Generated $1.7B in operating cash flow and returned $1.4B to shareholders through dividends and buybacks (TTM 9/30/25).

• Revenue reached $17.0B with a home sales gross margin of 27% and average selling price of $569K.

• Maintained a strong balance sheet with $1.5B in cash and an 11.2% debt-to-capital ratio as of Q3 2025.

• Capital allocation focused on land reinvestment, dividends, and share repurchases, with $5.3B spent on land and $1.4B returned to shareholders in 2024.

Strategic priorities and business model

• Relentless focus on returns, operational gains, and asset efficiency across the housing cycle.

• Profitable growth through optimized local market scale and fully integrated operations.

• Disciplined capital allocation supports long-term growth and shareholder returns.

• World-class culture attracts and retains top talent, supporting execution and innovation.