PULTEGROUP INCMI（PHM）の決算・業績分析
PULTEGROUP INCMIの2025年有価証券報告書をAI分析。売上高$17.3B(-3.5%)。Industrials。
目次
PULTEGROUP INCMIの2025年度 業績サマリー
PULTEGROUP INCMI（証券コード: PHM）の2025年度決算・業績分析。売上高は$17.3B（前年比-3.5%）。純利益は$2.2B（前年比-28.0%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
PULTEGROUP INCMIの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue grew 16.5% YoY to $16.0B (XBRL), driven by strong demand in the residential construction sector.
- Net income surged 34.5% YoY to $2.6B (XBRL), with a net margin of 16.4% (XBRL), reflecting improved cost management.
- ROE reached 35.0% (XBRL), supported by a 46.6% equity ratio (XBRL) and net debt of -$1.8B (XBRL).
- Share repurchases totaled $1.1B (XBRL), with a payout ratio of 5.5% (XBRL), indicating disciplined capital allocation.
PULTEGROUP INCMIの売上高変化の要因
- •Revenue increased 16.5% YoY to $16.0B (XBRL), with a 5-year CAGR of 9.5% (XBRL). The growth reflects a recovery in housing demand post-2022, though segment and geographic breakdowns are not disclosed (N/A). Net income grew 34.5% YoY to $2.6B (XBRL), outpacing revenue growth due to improved margins and cost discipline. The 5-year net income CAGR of 20.6% (XBRL) highlights strong profitability trends.
PULTEGROUP INCMIの営業利益変化の要因
- •Net margin expanded to 16.4% (XBRL), up from previous years, though gross profit and operating income data are not available (N/A). ROA of 16.3% (XBRL) and ROE of 35.0% (XBRL) indicate efficient use of assets and equity. The company's profitability benefits from scale and operational leverage, though inflationary pressures on land, materials, and labor remain a risk (10-K).
PULTEGROUP INCMIの事業リスクと対応
Interest rate volatility and mortgage availability risks: Elevated rates since 2022 and ongoing volatility may reduce homebuyer affordability and sales (10-K).
Fannie Mae/Freddie Mac liquidity risks: Uncertainty around government conservatorship could limit mortgage financing and impact sales (10-K).
Cyclical industry risks: Economic downturns, inflation, or unemployment could reduce demand for new homes and hurt financial results (10-K).
Inflation risks: Increased costs for land, materials, and labor may not be fully recouped, harming margins (10-K).
Federal Reserve policy risks: Persistent high rates post-2024 rate cuts could continue to pressure home affordability and demand (10-K).
PULTEGROUP INCMIの事業内容
PulteGroup Inc. (PHM) is a leading homebuilder in the United States, specializing in the construction and sale of single-family homes. The company operates in a cyclical industry, with demand influenced by macroeconomic factors such as interest rates, employment, and housing affordability. PHM's competitive position is shaped by its scale, geographic diversification, and ability to adapt to market conditions. The company's business model relies on land acquisition, construction, and sales, with profitability driven by efficient cost control and pricing power.
PULTEGROUP INCMIのAI業績分析レポート（2024年度）
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PulteGroup Inc. (PHM) Annual Report Analysis FY2024
Highlights
Business Overview
PulteGroup Inc. (PHM) is a leading homebuilder in the United States, specializing in the construction and sale of single-family homes. The company operates in a cyclical industry, with demand influenced by macroeconomic factors such as interest rates, employment, and housing affordability. PHM's competitive position is shaped by its scale, geographic diversification, and ability to adapt to market conditions. The company's business model relies on land acquisition, construction, and sales, with profitability driven by efficient cost control and pricing power.
Revenue Analysis
Revenue increased 16.5% YoY to $16.0B (XBRL), with a 5-year CAGR of 9.5% (XBRL). The growth reflects a recovery in housing demand post-2022, though segment and geographic breakdowns are not disclosed (N/A). Net income grew 34.5% YoY to $2.6B (XBRL), outpacing revenue growth due to improved margins and cost discipline. The 5-year net income CAGR of 20.6% (XBRL) highlights strong profitability trends.
Profitability Analysis
Net margin expanded to 16.4% (XBRL), up from previous years, though gross profit and operating income data are not available (N/A). ROA of 16.3% (XBRL) and ROE of 35.0% (XBRL) indicate efficient use of assets and equity. The company's profitability benefits from scale and operational leverage, though inflationary pressures on land, materials, and labor remain a risk (10-K).
Balance Sheet Analysis
Total assets grew to $17.4B (XBRL) by FY2025, with total equity increasing to $8.9B (XBRL). The equity ratio of 46.6% (XBRL) and debt-to-equity ratio of 0.76x (XBRL) suggest a conservative capital structure. Cash reserves of $1.8B (XBRL) and net debt of -$1.8B (XBRL) highlight strong liquidity and financial flexibility.
Cash Flow Analysis
Operating cash flow was $668M (XBRL), with free cash flow of $556M (XBRL) after $113M in CapEx (XBRL). Financing activities included $1.1B in share repurchases (XBRL) and $144M in dividends (XBRL). The company's capital allocation strategy prioritizes returning value to shareholders while maintaining investment in growth.
Working Capital Analysis
N/A (No data on receivables, inventory, or payables days is available in XBRL or 10-K text).
Risks
Outlook
N/A (The 10-K does not provide explicit forward-looking guidance or management commentary on FY2025 or beyond).
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 10.2B | 10.2B | 11.0B | 13.7B | 16.0B | 16.1B |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | 1.0B | 1.0B | 1.4B | 1.9B | 2.6B | 2.6B |
| Total Assets | 10.7B | 12.2B | 13.4B | 14.8B | 16.1B | 17.4B |
| Total Equity | 4.2B | 4.8B | 5.5B | 6.6B | 7.5B | 8.9B |
| Operating Cash Flow | 1.4B | 1.1B | 1.8B | 1.0B | 668M | 2.2B |
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