PulteGroup (PHM) FY2019 results: revenue $10.2 billion, up 0.2% on the year
PulteGroup Inc. (PHM) reported revenue of $10.2 billion for fiscal 2019, the year ended 31 December 2019, up 0.2% on the year before. Net income was $1.0 billion, down 0.5%, and diluted earnings per share $3.66. The figures are the company's own, from the 10-K it filed with the SEC on 30 January 2020.
Revenue
$10.2 billion
+0.2% on the year
FY2012FY2019
Operating margin
n/a
FY2012FY2019
Net income
$1.0 billion
-0.5% on the year
FY2012FY2019
Diluted EPS
$3.66
+3.1% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
10,213
10,188
8,573
+0.2%
Cost of revenue
7,816
7,815
6,715
+0.0%
Gross profit
2,397
2,373
1,858
+1.0%
Gross margin
23.5%
23.3%
21.7%
Selling, general and administrative
1,044
1,012
892
+3.2%
Interest expense
0.6
0.6
0.5
-5.5%
Income tax
323
326
492
-0.8%
Net income
1,017
1,022
447
-0.5%
Net margin
10.0%
10.0%
5.2%
Diluted EPS
$3.66
$3.55
$1.44
+3.1%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
1,078
1,450
663
-25.7%
Capital expenditure
58.1
59.0
32.1
-1.6%
Free cash flow
1,019
1,391
631
-26.7%
Free cash flow margin
10.0%
13.6%
7.4%
Cash from investing
-225
-40.5
-50.2
Cash from financing
-734
-580
-1,030
Depreciation and amortisation
54.0
49.4
51.0
+9.2%
Share-based compensation
28.4
28.3
33.7
+0.3%
Buybacks
274
295
910
-6.9%
Dividends paid
122
104
113
+17.6%
Dividend per share
$0.45
$0.38
$0.36
+18.4%
Diluted shares, weighted
275m
285m
307m
-3.4%
Shares outstanding at period end
270m
277m
287m
-2.5%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
5,458
4,818
4,154
+13.3%
Debt
3,092
3,376
3,445
-8.4%
Other liabilities
2,166
1,979
2,088
+9.5%
Total liabilities and equity
10,716
10,173
9,687
+5.3%
Fixed assets
112
92.9
70.7
+20.2%
Intangible assets
125
127
141
-1.7%
Cash and equivalents
1,218
1,110
273
+9.7%
Receivables
6.2
40.9
80.3
-84.8%
Other assets
9,255
8,802
9,122
+5.1%
Total assets
10,716
10,173
9,687
+5.3%
10-K for the year ended 31 December 2019, filed 30 January 2020: the filing.