PulteGroup Inc (PHM)

Return on total capital

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Earnings before interest and tax (EBIT) (ttm)	US$ in thousands	3,449,736	3,666,676	3,630,584	3,542,089	3,439,839	3,131,991	2,941,166	2,716,139	2,510,347	2,178,291	2,042,166	1,862,564	1,732,943	1,645,065	1,526,966	1,387,879	1,340,160	1,233,711	1,252,258	1,340,671
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	10,383,300	10,012,500	9,705,020	9,263,810	8,914,100	8,164,000	7,745,220	7,413,260	7,489,520	7,141,750	6,958,470	6,685,270	6,569,990	6,240,020	5,851,670	5,530,390	5,458,180	5,181,590	5,069,810	4,933,440
Return on total capital		33.22%	36.62%	37.41%	38.24%	38.59%	38.36%	37.97%	36.64%	33.52%	30.50%	29.35%	27.86%	26.38%	26.36%	26.09%	25.10%	24.55%	23.81%	24.70%	27.18%

December 31, 2023 calculation

Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $3,449,736K ÷ ($—K + $10,383,300K)
= 33.22%

PulteGroup Inc's return on total capital has been consistently strong, ranging from 26.48% to 30.87% over the past eight quarters. This indicates the company's ability to generate profits from the total capital employed in its operations. The increasing trend in return on total capital from Q4 2022 to Q1 2023 reflects efficient management of both debt and equity capital to enhance profitability. Overall, PulteGroup Inc's performance in terms of return on total capital demonstrates effective utilization of resources to generate returns for its stakeholders.