PulteGroup, Inc. stock research
FY2026 Q1
PulteGroup (PHM) Gross Margin — Quarter Ended Mar 31, 2026
Revenue and gross profit both decreased compared to the same quarter last year, while cost of revenue also declined. Gross margin weakened over the same period, reflecting a shift in the relationship among these metrics.
Gross margin takeaway
Quarter ended Mar 31, 2026 · FY2026 Q1
Revenue and gross profit both decreased compared to the same quarter last year, while cost of revenue also declined. Gross margin weakened over the same period, reflecting a shift in the relationship among these metrics.
- The decline in gross margin from the year-ago quarter is the most notable observable change, driven by a proportionally larger decrease in gross profit relative to revenue.
- Compared to the immediately preceding quarter, revenue was lower, but gross profit and cost of revenue data are not available for that period. Compared to the same quarter one year earlier, revenue, gross profit, and cost of revenue were all lower, and gross margin weakened.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
25.9%
Gross profit
$881.3M
Revenue
$3.4B
Cost of revenue
$2.5B
Quarter-over-quarter change
-1.9 pts
Year-over-year change
-3.0 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Mar 31, 2025 | $3.9B | $1.1B | $2.8B | 28.8% |
| Jun 30, 2025 | $4.4B | $1.3B | $3.1B | 28.6% |
| Sep 30, 2025 | $4.4B | $1.2B | $3.2B | 27.8% |
| Mar 31, 2026 | $3.4B | $881.3M | $2.5B | 25.9% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2025
-1.9 pts
Year-over-year change
Mar 31, 2025
-3.0 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The decline in gross margin from the year-ago quarter is the most notable observable change, driven by a proportionally larger decrease in gross profit relative to revenue.
Compared to the immediately preceding quarter, revenue was lower, but gross profit and cost of revenue data are not available for that period. Compared to the same quarter one year earlier, revenue, gross profit, and cost of revenue were all lower, and gross margin weakened.
Monitor the trajectory of gross margin in the upcoming quarter to assess whether the weakening trend continues or stabilizes.
Peer context
Latest available gross margins for related public companies.
| Company | Gross margin |
|---|---|
| PulteGroup, Inc. (PHM) | 25.9% |