PulteGroup (PHM) FY2020 results: revenue $11.0 billion, up 8.1% on the year
PulteGroup Inc. (PHM) reported revenue of $11.0 billion for fiscal 2020, the year ended 31 December 2020, up 8.1% on the year before. Net income was $1.4 billion, up 38.4%, and diluted earnings per share $5.18. The figures are the company's own, from the 10-K it filed with the SEC on 2 February 2021.
Revenue
$11.0 billion
+8.1% on the year
FY2013FY2020
Operating margin
n/a
FY2013FY2020
Net income
$1.4 billion
+38.4% on the year
FY2013FY2020
Diluted EPS
$5.18
+41.5% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
11,036
10,213
10,188
+8.1%
Cost of revenue
8,258
7,816
7,815
+5.7%
Gross profit
2,778
2,397
2,373
+15.9%
Gross margin
25.2%
23.5%
23.3%
Selling, general and administrative
1,011
1,044
1,012
-3.1%
Interest expense
4.2
0.6
0.6
+627.4%
Income tax
322
323
326
-0.3%
Net income
1,407
1,017
1,022
+38.4%
Net margin
12.7%
10.0%
10.0%
Diluted EPS
$5.18
$3.66
$3.55
+41.5%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,784
1,078
1,450
+65.6%
Capital expenditure
58.4
58.1
59.0
+0.4%
Free cash flow
1,726
1,019
1,391
+69.3%
Free cash flow margin
15.6%
10.0%
13.6%
Cash from investing
-108
-225
-40.5
Cash from financing
-296
-734
-580
Depreciation and amortisation
66.1
54.0
49.4
+22.4%
Share-based compensation
32.8
28.4
28.3
+15.8%
Buybacks
171
274
295
-37.8%
Dividends paid
130
122
104
+6.4%
Dividend per share
$0.50
$0.45
$0.38
+11.1%
Diluted shares, weighted
269m
275m
285m
-2.1%
Shares outstanding at period end
266m
270m
277m
-1.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
6,570
5,458
4,818
+20.4%
Debt
3,164
3,092
3,376
+2.3%
Other liabilities
2,471
2,166
1,979
+14.1%
Total liabilities and equity
12,205
10,716
10,173
+13.9%
Fixed assets
132
112
92.9
+17.9%
Intangible assets
163
125
127
+30.7%
Cash and equivalents
2,582
1,218
1,110
+112.0%
Receivables
n/a
6.2
40.9
Other assets
9,328
9,255
8,802
+0.8%
Total assets
12,205
10,716
10,173
+13.9%
10-K for the year ended 31 December 2020, filed 2 February 2021: the filing.