PulteGroup (PHM) FY2018 results: revenue $10.2 billion, up 18.8% on the year
PulteGroup Inc. (PHM) reported revenue of $10.2 billion for fiscal 2018, the year ended 31 December 2018, up 18.8% on the year before. Net income was $1.0 billion, up 128.5%, and diluted earnings per share $3.55. The figures are the company's own, from the 10-K it filed with the SEC on 31 January 2019.
Revenue
$10.2 billion
+18.8% on the year
FY2011FY2018
Operating margin
n/a
FY2011FY2018
Net income
$1.0 billion
+128.5% on the year
FY2011FY2018
Diluted EPS
$3.55
+146.5% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
10,188
8,573
7,668
+18.8%
Cost of revenue
7,815
6,715
5,729
+16.4%
Gross profit
2,373
1,858
1,940
+27.7%
Gross margin
23.3%
21.7%
25.3%
Selling, general and administrative
1,012
892
957
+13.5%
Interest expense
0.6
0.5
0.7
+22.9%
Income tax
326
492
331
-33.8%
Net income
1,022
447
603
+128.5%
Net margin
10.0%
5.2%
7.9%
Diluted EPS
$3.55
$1.44
$1.75
+146.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
1,450
663
68.3
+118.6%
Capital expenditure
59.0
32.1
39.3
+84.2%
Free cash flow
1,391
631
29.0
+120.4%
Free cash flow margin
13.6%
7.4%
0.4%
Cash from investing
-40.5
-50.2
-471
Cash from financing
-580
-1,030
351
Depreciation and amortisation
49.4
51.0
54.0
-3.1%
Share-based compensation
28.3
33.7
22.2
-16.0%
Buybacks
295
910
603
-67.6%
Dividends paid
104
113
125
-7.7%
Dividend per share
$0.38
$0.36
$0.36
+5.6%
Diluted shares, weighted
285m
307m
342m
-7.2%
Shares outstanding at period end
277m
287m
319m
-3.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
4,818
4,154
4,659
+16.0%
Debt
3,376
3,445
3,461
-2.0%
Other liabilities
1,979
2,088
2,058
-5.2%
Total liabilities and equity
10,173
9,687
10,178
+5.0%
Fixed assets
92.9
70.7
77.4
+31.4%
Intangible assets
127
141
155
-9.8%
Cash and equivalents
1,110
273
699
+307.1%
Receivables
40.9
80.3
66.5
-49.1%
Other assets
8,802
9,122
9,181
-3.5%
Total assets
10,173
9,687
10,178
+5.0%
10-K for the year ended 31 December 2018, filed 31 January 2019: the filing.