PHM
PulteGroup Inc.
Is PHM Halal?
Home construction — residential building services permissible.
What You Should Know
PulteGroup is a major US homebuilder. Core residential construction business is permissible. Its March 2026 Form 10-Q reports $18,195.980 million of assets, $2,275.823 million of interest-bearing debt, $1,843.388 million of cash and restricted cash, $509.270 million of mortgage loans available for sale and $3,408.572 million of quarterly revenue. Debt/assets is 12.51%, receivables-plus-cash/assets is 12.93%, and disclosed interest income is 0.39%; mortgage origination and loan-sale activities remain qualitative concerns.
⚠️ Concerns
- •Housing industry cyclicality
- •Mortgage-finance debt and loan-sale exposure
- •Interest income is disclosed from cash and mortgage operations
- •Repurchase agreements, servicing and customer deposits require review
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-14.
2,275.823 / 18,195.98
1,843.388 / 18,195.98
2,352.658 / 18,195.98
13.175 / 3,408.572
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 12.51%, liquidity/assets is 10.13%, receivables-plus-cash/assets is 12.93% and disclosed interest income/revenue is 0.39%; activity classification remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt, liquidity and receivables-plus-cash ratios are below the examined MSCI total-assets limits; mortgage-finance activity remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets and identifiable conventional liquidity/assets are below the examined Malaysia limits; this is not an official SAC classification and activity remains incomplete.
- Financial
- Not calculated
- Overall
- Incomplete
A properly licensed and reproducible historical market-cap series is not stored.
Business-activity disclosure
PulteGroup builds and sells homes and operates a mortgage-finance and other financial-services business. Homebuilding is the core permissible activity, while mortgage origination, loan sales and related funding require a separate qualitative Sharia review.
Limitation: The filing disaggregates homebuilding and financial-services revenue but does not isolate a universal prohibited-revenue numerator for mortgage interest and all ancillary activities.
Purification
PulteGroup discloses $13.175 million of interest income, below the examined income thresholds, but ZakatInvest does not prescribe a fixed scholar-approved purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from PulteGroup's March 31, 2026 Form 10-Q.
- Interest-bearing debt includes $1,820.771 million of notes payable and $455.052 million of Financial Services debt.
- Cash includes $1,807.020 million of cash and equivalents plus $36.368 million of restricted cash.
- Accounts receivable uses $509.270 million of residential mortgage loans available for sale; other assets are not treated as receivables without a separate disclosure.
- Quarterly total revenue is $3,408.572 million and disclosed interest income is $13.175 million; Financial Services revenue is separately reported but its full prohibited-revenue numerator is not isolated.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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