PulteGroup, Inc.

Company profile

• Founded as a Michigan corporation in 1950; incorporated in 1956.
• Core business: homebuilding in the United States, plus financial services (mortgage banking, title, and insurance agency operations) through Pulte Mortgage LLC and other subsidiaries.
• Brands: Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods.
• Public status: common shares are included in the S&P 500; listed on the NYSE under the symbol PHM.
• Strategy: scale and diversification to balance homebuilding operations with a captive financial services platform that supports customers.

Scale and footprint (as of December 31, 2025)

• Employees: 6,506 total, including 1,034 in Financial Services.
• Active communities: 1,014 in 47 markets across 26 states.
• Houses closed in 2025: 29,572.
• Land/controlled inventory: 234,632 total lots controlled (101,104 owned; 133,528 under land option agreements).
• Land development and construction work is performed with a combination of in-house staff and subcontractors.

Revenue and product mix

• Consolidated revenue (2025): $17.3 billion.
• Homebuilding accounted for 98% of consolidated revenues in 2025 (consistent with 2024 and 2023).
• Average selling price (ASP): $566,000 in 2025 (vs. $555,000 in 2024; $545,000 in 2023).
• Homes delivered: 29,572 closings in 2025; 31,219 in 2024; 28,603 in 2023.
• Customer mix in 2025 closings: 38% first-time buyers, 40% move-up buyers, 22% active adult (Del Webb) buyers.
• Mortgage origination at closings: Pulte Mortgage originated 64% of homes closed in 2025 (63% in 2024; 61% in 2023). Cash buyers accounted for 21% of closings in 2025 and 2024 (22% in 2023).

Backlog and orders

• Backlog value (Dec 31, 2025): $5.3 billion, representing 8,495 units.
• Backlog value (Dec 31, 2024): $6.5 billion, representing 10,153 units.
• Most backlog orders are expected to close in 2026; units are subject to cancellation or renegotiation.

Financial services operations

• Role: originate and securitize mortgage loans to support homebuyers; provide title and insurance agency services.
• Model: centralized fulfillment and origination. Servicing rights are typically sold and servicing activity is generally short-term due to sale of loans.

Operations and risk management

• Core operations focus on land acquisition and development, and sale of single-family and attached homes across a diversified set of customer segments (first-time, move-up, active adult).
• The company manages risks related to land costs, inflation, labor and material supply, financing availability, and regulatory factors, while maintaining liquidity and capital flexibility, including a revolving credit facility and related letters of credit.