PulteGroup, Inc.

How Do They Make Money?

revenue

Segment	Share	Revenue
Homebuilding	98% FY2022: 98%
Financial Services	2.3% FY2022: 2.0%

Yes. It kept 13 cents of every revenue dollar as net income in FY2025 and turned 10 cents into free cash flow.

Net income, FY2025

13% of revenue

▼ −28% vs FY2024 ($3.1B, 17%)

Free cash flow, FY2025

10% of revenue

▲ +12% vs FY2024 ($1.6B, 9%)

Since the FY2025 annual report

Latest quarter: Q3 FY2026, the three months to Sep 30, 2026

Homebuilding share of revenue vs 97.7% in Q3 FY2025

Growing. Revenue grew 26% in 4 years, from $13.7B in FY2021 to $17.3B in FY2025, about 6% a year.

Revenue over time

Homebuilding Financial Services

$20B$10B$0

FY2022 FY2023 FY2024 FY2025

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