Filing Flows › Pultegroup (PHM) › Q4 2025
Pultegroup (PHM) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 4, 2026
Pultegroup (PHM) reported revenue of $4.6B for the fourth quarter 2025 (Q4 2025), -6% from a year earlier and +5% from the quarter before. Operating margin was 14.2%, net earnings $502M (10.9% of revenue).
Pultegroup, Q4 2025: revenue $4.6B (-6% year over year), operating margin 14.2%, net earnings $502M, operating cash flow $771M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.6B | +5% | -6% |
| Operating profit | $655M | -15% | -45% |
| Net earnings | $502M | -14% | -45% |
| Operating cash flow | $771M | +14% | +36% |
| Free cash flow | $740M | +14% | +36% |
What changed
Revenue was $4.6B in Q4 2025, down 6% year over year and up 5% from the previous quarter.
Operating profit was $0.66B, a 14.2% margin (down 9.8 points year over year). Total costs grew 6% against a revenue fall of 6%. The fastest-growing cost line was SG&A (+99%). Net earnings were $0.50B, down 45% year over year. The effective tax rate was 23.4%.
Operating cash flow was $0.77B (up 36% year over year), 154% of net earnings. Non-cash charges added back $0.04B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.22B. Capital expenditures of $0.03B left free cash flow of $0.74B.
Questions
What was Pultegroup's revenue in the fourth quarter 2025?
Pultegroup (PHM) reported revenue of $4.6B for the fourth quarter 2025 (Q4 2025), -6% from a year earlier and +5% from the quarter before.
Was Pultegroup profitable in the fourth quarter 2025?
Operating profit was $655M (14.2% of revenue) and net earnings $502M.
Source: Pultegroup 10-K on SEC EDGAR.