{"slug":"pultegroup","name":"풀트그룹","name_en":"PulteGroup","ticker":"PHM","updated_at":"2026-09-24T11:56:41.698254+00:00","canonical":"https://valuechain.wiki/pultegroup","citable":"밸류체인 그래프 기준 풀트그룹의 직접 연결 기업은 2곳(관계 기준 공급 2·매출 0)이고, 사슬을 2차까지 넓히면 3곳에 닿는다. 링크의 근거 출처는 5건이며 그중 1차공시가 2건이다 (valuechain.wiki, 2026-09-24 기준).","citable_en":"Per the valuechain.wiki graph, PulteGroup is directly linked to 2 companies (2 supply, 0 revenue relationships) and reaches 3 companies within two hops; the links are backed by 5 dated sources, 2 of them primary filings (as of 2026-09-24).","kicker":"미국 대형 주택건설사","kicker_en":"U.S. homebuilder and mortgage originator","lead":"풀트그룹은 Pulte Homes, Centex, Del Webb 등 브랜드로 미국에서 주택을 건설해 판매하고, 계열사를 통해 모기지·소유권보험 서비스를 제공한다. 주택 자재와 설비를 외부 파트너에게 조달하며, 계열 모기지에서 만든 대출은 Fannie Mae와 Freddie Mac을 포함한 2차 시장 투자자에게 매각한다.","lead_en":"PulteGroup builds and sells homes in the United States through brands including Pulte Homes, Centex, and Del Webb, while its subsidiaries provide mortgage and title services. It buys building materials and equipment from outside partners and sells mortgages originated by its captive lender to secondary-market investors including Fannie Mae and Freddie Mac.","categories":[{"key":"homebuilding-residential-development","ko":"주택건설·주거개발","en":"Homebuilding & Residential Development","theme":"real-estate","theme_ko":"부동산","theme_en":"Real Estate","theme_kind":"sector","primary":true}],"segments":{"parts":[{"name":"주택건설","note":"주택 판매와 토지 판매"},{"name":"금융서비스","note":"모기지, 소유권보험 및 보험대리점"}],"total":"FY2025 총매출 17,311,953,000달러","track":"C"},"segments_en":{"parts":[{"name":"Homebuilding"},{"name":"Financial Services"}],"total":"FY2025 total revenue of $17,311,953,000"},"returns_yearly":{"2021":34,"2022":-19.2,"2023":128.8,"2024":6.2,"2025":8.5,"2026":-3.8},"return_asof":"2026-10-09","value_chain":{"leading":[],"benefiting":[{"slug":"sherwin-williams","name":"셔윈-윌리엄스","name_en":"The Sherwin-Williams Company","tier":1,"returns_yearly":{"2021":44.9,"2022":-32,"2023":32.7,"2024":9.9,"2025":-3.8,"2026":-0.7}},{"slug":"lennox-international","name":"레녹스 인터내셔널","name_en":"Lennox International","tier":1,"returns_yearly":{"2021":19.7,"2022":-24.9,"2023":89.5,"2024":37.3,"2025":-19.5,"2026":-25.9}},{"slug":"oracle","name":"Oracle","name_en":"Oracle","tier":2,"returns_yearly":{"2021":36.9,"2022":-4.6,"2023":30.9,"2024":60,"2025":18.1,"2026":-26.5}},{"slug":"bloom-energy","name":"Bloom Energy","name_en":"Bloom Energy","tier":3,"returns_yearly":{"2021":-23.5,"2022":-12.8,"2023":-22.6,"2024":50.1,"2025":291.2,"2026":191}},{"slug":"amd","name":"AMD","name_en":"AMD","tier":3,"returns_yearly":{"2021":56.9,"2022":-55,"2023":127.6,"2024":-18.1,"2025":77.3,"2026":183.9}},{"slug":"nvidia","name":"NVIDIA","name_en":"NVIDIA","tier":3,"returns_yearly":{"2021":125.5,"2022":-50.3,"2023":239,"2024":171.2,"2025":38.9,"2026":23.2}},{"slug":"dte-energy","name":"DTE 에너지","name_en":"DTE Energy","tier":3,"returns_yearly":{"2021":19.4,"2022":1.2,"2023":-2.8,"2024":13.5,"2025":10.4,"2026":7.2}}],"analysis":"미국 대형 주택건설사 기업. 2023년 +128.8% 급등 뒤 2025년 +8.5%, 2026년 +6.6%로 상승폭이 둔화됐다. 본주(+6.6%)와 공급단(평균 +3.7%)이 같은 보폭으로 움직인다.","analysis_en":"PulteGroup operates across U.S. homebuilder and mortgage originator. After a spike of +128.8% in 2023, gains cooled to +8.5% in 2025 and +6.6% in 2026. The stock (+6.6%) and its supply side (avg +3.7%) are moving in step. It buys building materials and equipment from outside partners and sells mortgages originated by its captive lender to secondary-market investors including Fannie Mae and Freddie Mac.","analysis_asof":"2026-09-04"},"edges":[{"direction":"investment","counterparty":"Centex Corporation","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2010-05-07","basis":"Centex 합병 총 이전대가","value":1505091000,"period":"2009 acquisition","basis_en":"Total consideration transferred in the Centex merger","qualifier":null},"note":"PulteGroup는 2009년 합병으로 Centex의 모든 주식을 취득해 완전자회사로 편입했다. SEC 공시에 기록된 이전대가는 15억 509만 1,000달러다.","note_en":"PulteGroup acquired all outstanding Centex shares in a 2009 merger, making Centex a wholly owned subsidiary. The SEC filing records total consideration transferred of $1.505091 billion.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회 EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2010-05-07","url":"https://www.sec.gov/Archives/edgar/data/822416/000119312510111120/d10q.htm","title":"PulteGroup 2010년 1분기 Form 10-Q","title_en":"PulteGroup Form 10-Q for the Quarter Ended March 31, 2010","excerpt":"공시는 Centex가 PulteGroup의 완전자회사가 됐으며 총 이전대가가 15억 509만 1,000달러였다고 기록했다.","excerpt_en":"As a result of the merger, Centex became a wholly-owned subsidiary of PulteGroup. Total consideration transferred was $1,505,091 thousand."}]},{"direction":"revenue","counterparty":"Fannie Mae","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2026-02-04","basis":"Fannie Mae 대상 모기지 매각액","value":null,"period":"FY2025","basis_en":"Mortgage loans sold to Fannie Mae","qualifier":"confirmed_no_disclosed_value"},"note":"Pulte Mortgage는 직접 만든 주택담보대출을 Fannie Mae에 매각할 수 있는 승인 판매·서비스 기관이다. 2025년 10-K는 회사가 Fannie Mae에 직접 모기지를 매각한다고 명시하지만 상대별 매각액은 공개하지 않았다.","note_en":"Pulte Mortgage is an approved seller-servicer that can sell originated residential mortgages to Fannie Mae. The 2025 Form 10-K expressly identifies direct sales to Fannie Mae but does not disclose the counterparty-specific amount.","sources":[{"stance":"mentions","publisher":"매일경제","publisher_en":"Maeil Business Newspaper","kind":"news","lang":"ko","published_at":"2026-03-27","url":"https://stock.mk.co.kr/news/view/1051433","title":"집 사려고 내 코인 팔아야돼? 미국 패니메이, 코인 주담대 최초 승인","title_en":"Fannie Mae Approves First Crypto-Backed Mortgage Product","excerpt":"패니메이는 직접 대출을 실행하지는 않지만 대출 기관으로부터 모기지를 사들여 투자자에게 판매하고 지급을 보증하는 핵심 기관이다.","excerpt_en":"Fannie Mae does not originate loans directly; it buys mortgages from lenders, sells them to investors, and guarantees payment."},{"stance":"mentions","publisher":"Fannie Mae","publisher_en":"Fannie Mae","kind":"research","lang":"en","published_at":"2026-03-16","url":"https://www.fanniemae.com/media/56766/display","title":"2025 연간 주택활동 보고서","title_en":"2025 Annual Housing Activities Report","excerpt":"Fannie Mae는 2025년에 약 1,200개 단독주택 대출기관에서 온 완전대출을 매입해 모기지 시장에 유동성을 공급했다고 설명했다.","excerpt_en":"The WLC purchases whole loans from approximately 1,200 single-family lenders, offering flexible execution options and competitive pricing."},{"stance":"confirms","publisher":"미국 증권거래위원회 EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-04","url":"https://www.sec.gov/Archives/edgar/data/822416/000082241626000007/phm-20251231.htm","title":"PULTEGROUP INC/MI/ 2025 Form 10-K","title_en":"PULTEGROUP INC/MI/ 2025 Form 10-K","excerpt":"회사는 주택담보대출을 2차 시장 또는 Fannie Mae와 Freddie Mac에 직접 매각한다고 공시했다.","excerpt_en":"If 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..."}]},{"direction":"revenue","counterparty":"Freddie Mac","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2026-02-04","basis":"Freddie Mac 대상 모기지 매각액","value":null,"period":"FY2025","basis_en":"Mortgage loans sold to Freddie Mac","qualifier":"confirmed_no_disclosed_value"},"note":"Pulte Mortgage는 Freddie Mac 승인 판매·서비스 기관이며, 2025년 10-K는 회사가 Freddie Mac에 직접 모기지를 매각한다고 명시한다. 상대별 매각액은 공개하지 않았다.","note_en":"Pulte Mortgage is an approved Freddie Mac seller-servicer, and the 2025 Form 10-K expressly states that the company sells mortgages directly to Freddie Mac. The counterparty-specific amount is not disclosed.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회 EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-04","url":"https://www.sec.gov/Archives/edgar/data/822416/000082241626000007/phm-20251231.htm","title":"PULTEGROUP INC/MI/ 2025 Form 10-K","title_en":"PULTEGROUP INC/MI/ 2025 Form 10-K","excerpt":"회사는 주택담보대출을 2차 시장 또는 Fannie Mae와 Freddie Mac에 직접 매각한다고 공시했다.","excerpt_en":"If 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..."}]},{"direction":"cost","counterparty":"셔윈-윌리엄스","counterparty_slug":"sherwin-williams","confidence":"mid","metric":{"type":"amount","unit":"USD","as_of":"2023-08-04","basis":"Sherwin-Williams 도료 조달액","value":null,"period":"2023","basis_en":"Procurement value for Sherwin-Williams paint","qualifier":"confirmed_no_disclosed_value"},"note":"PulteGroup의 공식 주택 가이드는 Sherwin-Williams 도료를 전국 브랜드 파트너십 품목으로 명시한다. 구매액과 계약 조건은 공개되지 않았다.","note_en":"PulteGroup's official home guide identifies Sherwin-Williams paint as a national brand partnership product. Purchase value and contract terms are not disclosed.","sources":[{"stance":"confirms","publisher":"PulteGroup","publisher_en":"PulteGroup","kind":"ir","lang":"en","published_at":"2023-08-04","url":"https://digitalbrochure.pulte.com/view/333906338","title":"PulteGroup DFW 신규 주택 가이드","title_en":"PulteGroup DFW New Home Guide","excerpt":"공식 가이드는 Moen 수도설비, Whirlpool 가전, Shaw 바닥재, Sherwin-Williams 도료, Lennox HVAC를 전국 브랜드 파트너십으로 제시한다.","excerpt_en":"NATIONAL BRAND PARTNERSHIPS: Premium design and details for your home through our national partnerships with Moen faucets, Whirlpool appliances, Shaw flooring, Sherwin-Williams paints, and Lennox HVAC equipment."}]},{"direction":"cost","counterparty":"레녹스 인터내셔널","counterparty_slug":"lennox-international","confidence":"mid","metric":{"type":"amount","unit":"USD","as_of":"2023-08-04","basis":"Lennox HVAC 설비 조달액","value":null,"period":"2023","basis_en":"Procurement value for Lennox HVAC equipment","qualifier":"confirmed_no_disclosed_value"},"note":"PulteGroup의 공식 주택 가이드는 Lennox 냉난방 설비를 전국 브랜드 파트너십 품목으로 명시한다. 구매액과 계약 조건은 공개되지 않았다.","note_en":"PulteGroup's official home guide identifies Lennox HVAC equipment as a national brand partnership product. Purchase value and contract terms are not disclosed.","sources":[{"stance":"confirms","publisher":"PulteGroup","publisher_en":"PulteGroup","kind":"ir","lang":"en","published_at":"2023-08-04","url":"https://digitalbrochure.pulte.com/view/333906338","title":"PulteGroup DFW 신규 주택 가이드","title_en":"PulteGroup DFW New Home Guide","excerpt":"공식 가이드는 Moen 수도설비, Whirlpool 가전, Shaw 바닥재, Sherwin-Williams 도료, Lennox HVAC를 전국 브랜드 파트너십으로 제시한다.","excerpt_en":"NATIONAL BRAND PARTNERSHIPS: Premium design and details for your home through our national partnerships with Moen faucets, Whirlpool appliances, Shaw flooring, Sherwin-Williams paints, and Lennox HVAC equipment."}]}]}