PulteGroup
23 named things its latest annual report says its results depend on, each in the company's own words. 16 of them are also named by other companies we've read.
Suppliers
Independent subcontractors
depends onnamed as a riskSubstantially all of our construction work is performed by independent subcontractors under contracts that establish a specific scope of work at an agreed-upon price.Business (Item 1)
Partners and platforms
Fannie Mae
earns fromnamed as a riskAny limitations or restrictions on the availability of financing by these agencies could adversely affect interest rates, mortgage financing, and our sales of new homes and mortgage loans.Risk factors (Item 1A)
Also named by ABR, AGNC, BAC, CBRE, DX, FICO, FSUN, JLL and 7 more
Freddie Mac
earns fromnamed as a riskIf we were unable to sell loans into the secondary mortgage market or directly to Fannie Mae and Freddie Mac, we would have to either (a) curtail our origination of residential mortgage loans, which, among other things, could significantly reduce our ability to sell homes, or (b) commit our own funds to long-term investments in mortgage loans, which, in addition to requiring us to deploy substantial amounts of our own funds, could delay the time when we recognize revenues from home sales on our statements of operations.Risk factors (Item 1A)
Also named by ABR, AGNC, BAC, CBRE, DX, FICO, FSUN, LEN and 5 more
Ginnie Mae
earns fromWe are a lender approved by the Federal Housing Administration ("FHA"), Department of Veterans Affairs ("VA"), and Department of Agriculture ("USDA") and are a seller/servicer approved by Government National Mortgage Association ("Ginnie Mae"), Federal National Mortgage Association ("Fannie Mae"), Federal Home Loan Mortgage Corporation ("Freddie Mac"), and other investors.Business (Item 1)
Other companies
Revolving Credit Facility
depends on · $892.9 million availablenamed as a riskHowever, our internal sources of liquidity and Revolving Credit Facility may prove to be insufficient, and, in such case, we may not be able to successfully obtain additional financing on terms acceptable to us, or at all.Risk factors (Item 1A)
Also named by AAON, BRO, BX, CG, CRGY, FIVE, FIX, HEI and 22 more
Surety bonds and letters of credit
depends on · $357.1 million and $3.1 billion, respectivelynamed as a riskAt December 31, 2025, we had outstanding letters of credit and surety bonds totaling $357.1 million and $3.1 billion, respectively.Risk factors (Item 1A)
Also named by TOL
Pulte Mortgage Repurchase Agreement
depends on · $532,338(a) Includes the Pulte Mortgage Repurchase Agreement.Market risk (Item 7A)
Centex Corporation
named as a riskWe may also be asked to indemnify underwriters that purchased and securitized loans originated by a former subsidiary of Centex CorporationRisk factors (Item 1A)
Hazards
Hurricanes in Florida and Southeastern U.S.
operates innamed as a riskFor instance, in recent years, hurricanes have caused significant disruptions in Florida and our Southeastern markets but did not result in a material impact to our results of operations.Risk factors (Item 1A)
Wildfires in Western U.S.
operates innamed as a riskIn addition, the increased prevalence of forest fires in recent years in our western markets has caused disruptions to our sales operations and development delays, and significant weather events have contributed to plant closures and transportation delays that have exacerbated stress on our supply chain.Risk factors (Item 1A)
Commodities and inputs
Mortgage-backed securities forward contracts
exposed to its price · $1.3 billionUnexpired forward contracts totaled $1.3 billion and $977.0 million at December 31, 2025 and 2024, respectively, and whole loan investor commitments totaled $270.6 million and $237.1 million, respectively, at such dates.Market risk (Item 7A)
Steel
exposed to its pricenamed as a riskHowever, the cost of certain building materials, especially lumber, steel, concrete, resin, copper, and petroleum-based materials, is influenced by changes in global commodity prices, national tariffs, and other trade factors.Business (Item 1)
Also named by AAON, AGX, ALSN, AM, AME, AMRC, AOS, APD and 104 more
Copper
exposed to its pricenamed as a riskHowever, the cost of certain building materials, especially lumber, steel, concrete, resin, copper, and petroleum-based materials, is influenced by changes in global commodity prices, national tariffs, and other trade factors.Business (Item 1)
Also named by AAON, AGX, AMKR, APG, APH, APLD, BMI, BWA and 58 more
Lumber
exposed to its pricenamed as a riskHowever, the cost of certain building materials, especially lumber, steel, concrete, resin, copper, and petroleum-based materials, is influenced by changes in global commodity prices, national tariffs, and other trade factors.Business (Item 1)
Also named by BLDR, DHI, GHC, HD, HHH, KIM, LEN, LOW and 11 more
Concrete
exposed to its pricenamed as a riskHowever, the cost of certain building materials, especially lumber, steel, concrete, resin, copper, and petroleum-based materials, is influenced by changes in global commodity prices, national tariffs, and other trade factors.Business (Item 1)
Petroleum-based materials
exposed to its pricenamed as a riskHowever, the cost of certain building materials, especially lumber, steel, concrete, resin, copper, and petroleum-based materials, is influenced by changes in global commodity prices, national tariffs, and other trade factors.Business (Item 1)
Resin
exposed to its pricenamed as a riskHowever, the cost of certain building materials, especially lumber, steel, concrete, resin, copper, and petroleum-based materials, is influenced by changes in global commodity prices, national tariffs, and other trade factors.Business (Item 1)
Also named by LPX
Homeowner, hazard and flood insurance
exposed to its pricenamed as a riskAcross various regions in which we operate, costs associated with homeowner, hazard, and flood insurance have increased in recent years, driven in part by the increasing frequency and severity of weather‑related losses.Risk factors (Item 1A)
Regulators
U.S. Department of Veterans Affairs (VA)
subject tonamed as a riskFor example, for our homes to qualify for FHA or VA mortgages, we must satisfy valuation standards and site, material, and construction requirements of those agencies.Risk factors (Item 1A)
Federal Housing Administration (FHA)
subject tonamed as a riskAdditionally, the availability of FHA and VA mortgage financing, which is subject to the same interest rate and lending term risks, is an important factor in marketing some of our homes, and reduced availability of these financing options could negatively impact our results of operations.Risk factors (Item 1A)
Consumer Financial Protection Bureau
subject toThese government agencies and government-sponsored investors include, but are not necessarily limited to, the Consumer Financial Protection Bureau, Federal Housing Finance Agency, U.S. Department of Housing and Urban Development, FHA, VA, USDA, Fannie Mae, Freddie Mac, and Ginnie Mae.Business (Item 1)
Also named by ABNB, AFRM, ALLY, AN, AUB, AXP, BAC, CASH and 61 more
Laws and programs
U.S. tariffs on imports from Canada and Mexico
subject tonamed as a riskFor instance, changes in laws, government regulations, or enforcement priorities, such as the imposition of tariffs (in particular on materials imported from Canada or Mexico) or other import or export restrictions, penalties or sanctions, including modification or elimination of international agreements covering trade or investment, or changes in immigration laws and/or their enforcement, could result in higher component costs, tighter overall labor conditions and a shortage of skilled tradespeople, which could in turn adversely affect our business.Risk factors (Item 1A)
Technology
Enterprise resource planning (ERP) system
depends onnamed as a riskWe are in the process of a multi-year implementation of new enterprise resource planning systems (“ERP”).Risk factors (Item 1A)
Also named by MMM