Lennar Corporation (LEN) Financials

LEN

Trailing 12 months to August 31, 2026

Revenue $32.0B -8.0% YoY

Net Income $1.3B -51.3% YoY

Free Cash Flow $795.2M +211.5% YoY

Operating Cash Flow $937.3M +265.0% YoY

Market Cap $18.2B as of Oct 10, 2026

Price / Sales 0.6x on $32.0B revenue, trailing 12 months to August 31, 2026

Price / Earnings 13.9x on $1.3B net income, trailing 12 months to August 31, 2026

Price / Book 0.8x on $21.6B equity, Q3 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q3 FY2026, ended Aug 31, 2026 Reported Oct 2, 2026 Currency USD FYE November

Newest figures come from the 10-Q for Q3 FY2026, filed Oct 2, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the LEN SEC filings page.

Lennar Corporation (LEN) reported $32.0B in revenue over the twelve months to Aug 31, 2026, down 8.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI LEN FY2025 2026-10-02

Lennar's 2025 results show a small revenue setback becoming a much larger profit and cash-generation setback as debt became more prominent.

The cash-conversion break is the clearest change: operating cash flow fell from $2.4B in FY2024 to $217M in FY2025. Net income was $2.1B, but free cash flow was only $28M, indicating that reported earnings were not translating into retained cash at a similar rate.

Revenue declined in FY2025 while net margin compressed from 11.1% to 6.1%; the setback therefore involved profitability, not merely sales volume. Selling, general and administrative expense rose to $2.7B, pointing to a cost base that did not flex down with the softer top line.

Debt-to-equity rose from 0.2x in FY2024 to 0.3x in FY2025 as equity contracted, making the financing mix more debt-weighted even though total liabilities declined. Long-term debt rose to $5.9B while equity declined, making financing structure more consequential to results than the liabilities total alone suggests.

Financial Health Signals

Financial health score not available

Lennar Corporation does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

3/6

Lennar Corporation passes 3 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Low Quality

0.10x

For every $1 of reported earnings, Lennar Corporation generates $0.10 in operating cash flow ($216.8M OCF vs $2.1B net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$8.0B

YoY-8.7%

QoQ+1.3%

5Y CAGR+3.0%

10Y CAGR+11.0%

Lennar Corporation generated $8.0B in revenue in Q3 2026. This represents a decrease of 8.7% from the same quarter a year earlier. Against the prior quarter it is up 1.3%.

Net Income

$283.9M

YoY-52.0%

QoQ-6.9%

5Y CAGR-27.4%

10Y CAGR+1.9%

Lennar Corporation reported $283.9M in net income in Q3 2026. This represents a decrease of 52.0% from the same quarter a year earlier. Against the prior quarter it is down 6.9%.

EPS (Diluted)

$1.19

YoY-48.0%

QoQ-4.0%

Lennar Corporation earned $1.19 per diluted share (EPS) in Q3 2026. This represents a decrease of 48.0% from the same quarter a year earlier. Against the prior quarter it is down 4.0%.

EBITDA

Not reported for Q3 2026.

Cash & Balance Sheet

Free Cash Flow

-$112.3M

YoY+41.1%

QoQ+63.0%

Lennar Corporation recorded an outflow of $112.3M in free cash flow in Q3 2026, representing a cash shortfall after capex. This represents an increase of 41.1% from the same quarter a year earlier. Against the prior quarter it is up 63.0%.

Cash & Debt

$1.5B

YoY-14.7%

QoQ-31.0%

5Y CAGR-11.6%

10Y CAGR+6.3%

Lennar Corporation held $1.5B in cash as of Q3 2026; long-term debt is not reported for that period.

Shares Outstanding

Diluted avg 238M

Lennar Corporation had a weighted average of 238M diluted shares in Q3 2026; the shares outstanding count is not reported for that period.

Dividends Per Share

Not reported for Q3 2026.

Margins & Returns

Net Margin

3.5%

YoY-3.2pp

QoQ-0.3pp

5Y change-16.7pp

10Y change-4.8pp

Lennar Corporation's net profit margin was 3.5% in Q3 2026, showing the share of revenue converted to profit. This is down 3.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.3 percentage points.

Return on Equity

1.3%

YoY-1.3pp

QoQ-0.1pp

5Y change-5.5pp

10Y change-2.3pp

Lennar Corporation's ROE was 1.3% in Q3 2026, measuring profit generated per dollar of shareholder equity. This is down 1.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.1 percentage points.

Gross Margin

Not reported for Q3 2026.

Operating Margin

Not reported for Q3 2026.

Capital Allocation

Share Buybacks

$255.9M

YoY-50.1%

QoQ-45.2%

5Y CAGR-1.7%

10Y CAGR+29.8%

Lennar Corporation spent $255.9M on share buybacks in Q3 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 50.1% from the same quarter a year earlier. Against the prior quarter it is down 45.2%.

Capital Expenditures

$8.0M

YoY-75.1%

QoQ-57.5%

5Y CAGR-12.5%

10Y CAGR-6.5%

Lennar Corporation invested $8.0M in capex in Q3 2026, funding long-term assets and infrastructure. This represents a decrease of 75.1% from the same quarter a year earlier. Against the prior quarter it is down 57.5%.

R&D Spending

Not reported for Q3 2026.

LEN Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

LEN quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$32.0B	$34.2B-3.5%	$35.4B+3.5%	$34.2B+1.7%	$33.7B+24.1%	$27.1B+20.6%	$22.5B+1.0%	$22.3B+8.2%	$20.6B+62.7%	$12.6B+15.5%	$10.9B+15.6%	$9.5B+21.8%	$7.8B+31.1%	$5.9B+44.6%	$4.1B+32.6%	$3.1B
SG&A Expenses	$2.7B	$2.7B+8.0%	$2.5B+11.2%	$2.2B	N/A	$398.4M+19.5%	$333.4M+3.8%	$321.2M-6.6%	$343.9M+20.3%	$285.9M+22.9%	$232.6M+7.5%	$216.2M+22.1%	$177.2M+21.3%	$146.1M+14.7%	$127.3M+33.7%	$95.3M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	$3.5B+25.5%	$2.8B+12.7%	$2.5B+66.9%	$1.5B-5.6%	$1.6B+9.6%	$1.4B+24.3%	$1.1B+38.5%	$828.0M+136.9%	$349.5M+80.8%	$193.2M
EBITDA	N/A	N/A	N/A	N/A	N/A	N/A	$3.6B+24.7%	$2.9B+12.3%	$2.6B+65.7%	$1.5B-4.4%	$1.6B+9.8%	$1.5B+24.0%	$1.2B+38.1%	$858.4M+127.4%	$377.5M+75.8%	$214.7M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$4.6M-62.9%	$12.5M-65.9%	$36.6M-82.9%	$214.3M+18.1%	$181.4M+11.3%	$163.0M
Income Tax	$460.8M	$705.6M-42.0%	$1.2B-1.9%	$1.2B-9.2%	$1.4B+0.3%	$1.4B+107.6%	$656.2M+10.8%	$592.2M+8.6%	$545.2M+30.5%	$417.9M+0.1%	$417.4M+6.9%	$390.4M+14.5%	$341.1M+92.7%	$177.0M+140.7%	-$435.2M-2887.1%	-$14.6M
Net Income	$1.3B	$2.1B-47.2%	$3.9B-0.2%	$3.9B-14.6%	$4.6B+4.2%	$4.4B+79.7%	$2.5B+33.3%	$1.8B+9.0%	$1.7B+109.2%	$810.5M-11.1%	$911.8M+13.6%	$802.9M+25.7%	$638.9M+33.2%	$479.7M-29.4%	$679.1M+636.6%	$92.2M
EPS (Basic)	N/A	$7.98-44.2%	$14.31+4.2%	$13.73-12.8%	$15.74+10.2%	$14.28+81.2%	$7.88+36.8%	$5.76+5.5%	$5.46+61.5%	$3.38-16.5%	$4.05+7.1%	$3.78+21.2%	$3.12+25.8%	$2.48-30.7%	$3.58+630.6%	$0.49
EPS (Diluted)	—	N/A	$14.31+4.2%	$13.73-12.7%	$15.72+10.2%	$14.27+81.8%	$7.85+36.8%	$5.74+5.5%	$5.44+60.9%	$3.38-12.4%	$3.86+13.9%	$3.39+21.1%	$2.80+30.2%	$2.15-30.9%	$3.11+547.9%	$0.48
Diluted Shares (Avg)	N/A	N/A	272M-4.0%	283M-2.2%	290M-5.5%	307M-0.9%	309M-2.8%	318M+3.2%	309M+30.1%	237M+0.8%	235M0.0%	235M+3.2%	228M+1.0%	226M+3.3%	219M+12.0%	195M

Metric	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K
Revenue	$8.0B-8.7%	$7.9B-5.2%	$6.6B-13.3%	$9.4B-5.8%	$8.8B-6.4%	$8.4B-4.4%	$7.6B+4.4%	$9.9B-9.3%
SG&A Expenses	$714.0M+5.6%	$698.4M+1.4%	$617.5M+0.3%	$697.3M-65.2%	$676.5M+310.8%	$688.8M+338.8%	$615.7M+291.4%	$2.0B+7.3%
Income Tax	$101.6M-46.8%	$105.1M-34.4%	$69.1M-59.2%	$185.1M-48.3%	$190.9M-45.1%	$160.1M-46.7%	$169.5M-19.6%	$358.1M-14.1%
Net Income	$283.9M-52.0%	$304.8M-36.2%	$229.4M-55.8%	$490.2M-55.3%	$591.0M-49.2%	$477.4M-50.0%	$519.5M-27.8%	$1.1B-19.5%
EPS (Basic)	$1.19-48.0%	$1.24-31.5%	$0.93-52.6%	$1.92-52.6%	$2.29-46.2%	$1.81-47.5%	$1.96-23.7%	$4.05-15.4%
EPS (Diluted)	$1.19-48.0%	$1.24-31.5%	$0.93-52.6%	N/A	$2.29-46.2%	$1.81-47.5%	$1.96-23.7%	$4.05-15.4%
Diluted Shares (Avg)	238M-7.0%	241M-7.5%	244M-7.0%	N/A	256M-5.4%	260M-4.9%	263M-5.1%	N/A

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA, Interest Expense.

LEN Balance Sheet

LEN quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$34.4B-16.7%	$41.3B+5.3%	$39.2B+3.3%	$38.0B+14.4%	$33.2B+10.9%	$29.9B+2.0%	$29.4B+2.8%	$28.6B+52.4%	$18.7B+22.0%	$15.4B+6.5%	$14.4B+11.6%	$12.9B+15.0%	$11.2B+8.5%	$10.4B+13.2%	$9.2B
Cash & Equivalents	$3.8B-23.5%	$4.9B-25.3%	$6.6B+36.4%	$4.8B+62.9%	$3.0B+3.2%	$2.9B+98.0%	$1.4B-7.2%	$1.6B-41.2%	$2.7B+99.4%	$1.3B+14.8%	$1.2B-9.6%	$1.3B+32.1%	$970.5M-26.0%	$1.3B+12.6%	$1.2B
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$1.5B-11.0%	$1.7B	N/A	N/A	N/A	$938.1M+3.4%	$906.9M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$54.0M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$3.6B0.0%	$3.6B	N/A	N/A	N/A	$3.6B-0.7%	$3.7B	N/A	N/A	N/A	N/A	$44.3M+30.0%	$34.0M	N/A	$34.0M
Total Liabilities	$12.3B-7.5%	$13.3B+6.1%	$12.5B-8.8%	$13.7B+12.5%	$12.2B+3.2%	$11.8B-11.2%	$13.3B-4.0%	$13.9B+29.0%	$10.8B+32.0%	$8.2B-3.8%	$8.5B+10.4%	$7.7B+15.4%	$6.6B+4.5%	$6.4B+8.7%	$5.9B
Long-Term Debt	$5.9B+40.2%	$4.2B	N/A	N/A	N/A	$7.4B-22.5%	$9.6B	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$22.0B-21.2%	$27.9B+4.9%	$26.6B+10.3%	$24.1B+15.8%	$20.8B+15.7%	$18.0B+12.8%	$15.9B+9.4%	$14.6B+85.2%	$7.9B+12.0%	$7.0B+24.4%	$5.6B+17.0%	$4.8B+15.8%	$4.2B+22.1%	$3.4B+26.6%	$2.7B
Retained Earnings	$22.5B-12.7%	$25.8B+15.1%	$22.4B+18.6%	$18.9B+28.4%	$14.7B+39.0%	$10.6B+27.4%	$8.3B+27.9%	$6.5B+34.0%	$4.8B+12.4%	$4.3B+25.6%	$3.4B+28.9%	$2.7B+29.5%	$2.1B+28.0%	$1.6B+67.8%	$956.4M

Metric	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K
Total Assets	N/A	$33.7B-2.0%	$33.2B-5.1%	$34.4B-16.7%	$34.9B-12.2%	$34.4B-11.1%	$35.0B-10.2%	$41.3B+5.3%
Cash & Equivalents	$1.5B-14.7%	$2.2B+47.0%	$2.4B-7.5%	$3.8B-23.5%	$1.8B-59.2%	$1.5B-62.3%	$2.6B-50.8%	$4.9B-25.3%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	N/A	N/A	N/A	$1.5B-11.0%	N/A	N/A	N/A	$1.7B
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	N/A	N/A	N/A	$3.6B0.0%	N/A	N/A	N/A	$3.6B
Total Liabilities	N/A	$11.9B+2.5%	$11.2B-7.8%	$12.3B-7.5%	$12.1B-0.5%	$11.6B-0.1%	$12.1B-0.4%	$13.3B+6.1%
Long-Term Debt	N/A	N/A	N/A	$5.9B+40.2%	N/A	N/A	N/A	$4.2B
Total Equity	$21.6B-4.5%	$21.6B-4.2%	$21.9B-3.7%	$22.0B-21.2%	$22.6B-17.7%	$22.6B-16.0%	$22.7B-14.7%	$27.9B+4.9%
Retained Earnings	$22.9B+3.7%	$22.8B+5.1%	$22.6B+6.0%	$22.5B-12.7%	$22.1B-10.8%	$21.6B-8.9%	$21.3B-7.2%	$25.8B+15.1%

Not reported in any period shown, so not listed: Current Assets, Inventory, Current Liabilities, Non-Current Liabilities.

LEN Cash Flow Statement

LEN quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$937.3M	$216.8M-91.0%	$2.4B-53.6%	$5.2B+58.6%	$3.3B+28.9%	$2.5B-39.6%	$4.2B+182.7%	$1.5B-12.4%	$1.7B+72.2%	$982.4M+93.5%	$507.8M+221.0%	-$419.6M+46.8%	-$788.5M+2.4%	-$807.7M-90.2%	-$424.6M-63.9%	-$259.1M
Depreciation & Amortization	N/A	$134.3M+16.3%	$115.5M+4.9%	$110.2M+26.5%	$87.1M+1.3%	$86.0M-9.1%	$94.6M+2.6%	$92.2M+1.1%	$91.2M+37.5%	$66.3M+32.1%	$50.2M+15.0%	$43.7M+13.3%	$38.5M+27.0%	$30.3M+8.1%	$28.1M+30.6%	$21.5M
Stock-Based Compensation	N/A	$163.5M-7.5%	$176.7M+9.9%	$160.7M-12.7%	$184.1M+36.7%	$134.6M+25.7%	$107.1M+23.2%	$86.9M+19.7%	$72.7M+18.4%	$61.4M+10.5%	$55.5M+26.5%	$43.9M+7.7%	$40.7M+20.9%	$33.7M+6.1%	$31.7M+32.0%	$24.0M
Capital Expenditures	$126.0M	$188.6M+10.0%	$171.5M+71.8%	$99.8M+74.4%	$57.2M-12.2%	$65.2M-10.4%	$72.8M-15.9%	$86.5M-33.7%	$130.4M+16.7%	$111.8M+46.2%	$76.4M-16.3%	$91.4M+304.2%	$22.6M	N/A	N/A	N/A
Free Cash Flow	$795.2M	$28.2M-98.7%	$2.2B-56.1%	$5.1B+58.3%	$3.2B+30.0%	$2.5B-40.1%	$4.1B+195.0%	$1.4B-10.6%	$1.6B+79.3%	$870.6M+101.8%	$431.4M+184.4%	-$511.0M+37.0%	-$811.1M	N/A	N/A	N/A
Investing Cash Flow	$160.3M	$221.6M+173.2%	-$302.6M-71.0%	-$177.0M-37.9%	-$128.3M-22.1%	-$105.1M+62.5%	-$280.2M-1529.9%	$19.6M+103.3%	-$594.0M+29.7%	-$845.1M-884.5%	-$85.8M+12.8%	-$98.4M-122.4%	$438.4M-36.4%	$689.2M+181.0%	$245.3M+280.2%	-$136.2M
Financing Cash Flow	-$1.4B	-$1.6B+56.6%	-$3.7B-13.4%	-$3.2B-154.3%	-$1.3B+46.9%	-$2.4B+1.7%	-$2.4B-50.2%	-$1.6B+25.8%	-$2.2B-283.9%	$1.2B+576.0%	-$250.9M-163.6%	$394.7M-40.3%	$661.4M+398.3%	-$221.8M-167.9%	$326.5M+98.2%	$164.8M
Dividends Paid	$492.5M	$521.0M-5.1%	$548.8M+27.5%	$430.6M-1.7%	$438.0M+41.4%	$309.8M+58.8%	$195.0M+279.1%	$51.5M+4.7%	$49.2M+30.7%	$37.6M+6.5%	$35.3M+6.4%	$33.2M+1.3%	$32.8M+6.0%	$30.9M+1.7%	$30.4M+1.6%	$29.9M
Share Buybacks	$992.8M	$1.8B-19.9%	$2.3B+90.8%	$1.2B+13.8%	$1.0B-27.3%	$1.4B+344.8%	$321.5M-38.5%	$523.1M+74.5%	$299.8M+1008.3%	$27.1M+35.9%	$19.9M-14.2%	$23.2M+13.5%	$20.4M+65.8%	$12.3M-28.2%	$17.1M+199.6%	$5.7M

Metric	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K
Operating Cash Flow	-$104.3M+34.2%	-$284.4M+74.0%	-$433.5M-50.0%	$1.8B+80.6%	-$158.6M-119.4%	-$1.1B-552.9%	-$289.0M-178.6%	$974.5M-62.4%
Depreciation & Amortization	$35.9M+5.1%	$35.3M+4.4%	$33.4M+6.6%	$35.0M+15.0%	$34.2M+16.3%	$33.8M+18.2%	$31.3M+15.5%	$30.4M+4.8%
Stock-Based Compensation	N/A	N/A	$62.4M-25.8%	N/A	N/A	N/A	$84.1M-4.1%	N/A
Capital Expenditures	-$8.0M-75.1%	$18.9M+23.9%	$30.0M-46.5%	$85.2M+106.0%	$32.2M+74.8%	$15.2M-60.8%	$56.0M-23.1%	$41.4M-10.4%
Free Cash Flow	-$112.3M+41.1%	-$303.2M+72.7%	-$463.5M-34.3%	$1.7B+79.4%	-$190.8M-123.8%	-$1.1B-647.0%	-$345.1M-217.0%	$933.1M-63.3%
Investing Cash Flow	$37.0M+609.9%	-$15.9M-109.9%	$93.4M+334.4%	$45.9M+136.5%	-$7.2M-107.4%	$161.4M+227.2%	$21.5M+114.5%	-$125.7M-102.7%
Financing Cash Flow	-$607.5M-236.9%	$79.3M+145.2%	-$1.1B+48.7%	$268.3M+258.1%	$443.8M+184.1%	-$175.4M+87.9%	-$2.1B-39.6%	-$169.7M-111.4%
Dividends Paid	$119.4M-7.5%	$123.1M-7.9%	$123.5M-6.2%	$126.6M-6.0%	$129.1M-5.0%	$133.6M-3.8%	$131.6M-5.6%	$134.7M+28.0%
Share Buybacks	$255.9M-50.1%	$467.1M-10.4%	$269.7M-65.2%	$57K-100.0%	$512.4M-2.3%	$521.4M-14.5%	$774.5M+30.1%	$527.2M+54.5%

LEN Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

LEN quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Margin	N/A	N/A	N/A	N/A	N/A	15.5%+3.0pp	12.5%+0.5pp	12.0%+0.3pp	11.7%-2.6pp	14.3%-0.8pp	15.0%+0.3pp	14.7%+0.8pp	14.0%+5.4pp	8.5%+2.3pp	6.2%
Net Margin	6.1%-5.0pp	11.1%-0.4pp	11.5%-2.2pp	13.7%-2.6pp	16.3%+5.4pp	11.0%+2.7pp	8.3%+0.1pp	8.2%+1.8pp	6.4%-1.9pp	8.3%-0.1pp	8.5%+0.3pp	8.2%+0.1pp	8.1%-8.5pp	16.5%+13.6pp	3.0%
Return on Equity	9.5%-4.7pp	14.1%-0.7pp	14.8%-4.3pp	19.1%-2.1pp	21.3%+7.6pp	13.7%+2.1pp	11.6%0.0pp	11.6%+1.3pp	10.3%-2.7pp	13.0%-1.2pp	14.2%+1.0pp	13.2%+1.7pp	11.5%-8.4pp	19.9%+16.5pp	3.4%
Return on Assets	6.0%-3.5pp	9.5%-0.5pp	10.0%-2.1pp	12.2%-1.2pp	13.3%+5.1pp	8.2%+1.9pp	6.3%+0.4pp	5.9%+1.6pp	4.3%-1.6pp	5.9%+0.4pp	5.6%+0.6pp	4.9%+0.7pp	4.3%-2.3pp	6.6%+5.5pp	1.0%
Debt-to-Equity	0.27+0.1x	0.15-0.3x	0.47-0.1x	0.570.0x	0.59+0.2x	0.41-0.2x	0.60-0.4x	0.95-0.4x	1.37+0.2x	1.16-0.3x	1.50-0.1x	1.590.0x	1.59-0.3x	1.86-0.3x	2.17
Asset Turnover	0.99+0.1x	0.860.0x	0.870.0x	0.89+0.1x	0.82+0.1x	0.750.0x	0.760.0x	0.720.0x	0.670.0x	0.71+0.1x	0.66+0.1x	0.60+0.1x	0.53+0.1x	0.40+0.1x	0.34
FCF Margin	0.1%-6.2pp	6.3%-8.5pp	14.8%+5.3pp	9.5%+0.4pp	9.1%-9.2pp	18.3%+12.0pp	6.3%-1.3pp	7.6%+0.7pp	6.9%+2.9pp	3.9%+9.3pp	-5.4%+5.0pp	-10.4%	N/A	N/A	N/A

Metric	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K
Net Margin	3.5%-3.2pp	3.8%-1.9pp	3.5%-3.3pp	5.2%-5.8pp	6.7%-5.6pp	5.7%-5.2pp	6.8%-3.0pp	11.0%-1.4pp
Return on Equity	1.3%-1.3pp	1.4%-0.7pp	1.1%-1.2pp	2.2%-1.7pp	2.6%-1.6pp	2.1%-1.4pp	2.3%-0.4pp	3.9%-1.2pp
Return on Assets	N/A	0.9%-0.5pp	0.7%-0.8pp	1.4%-1.2pp	1.7%-1.2pp	1.4%-1.1pp	1.5%-0.4pp	2.6%-0.8pp
Debt-to-Equity	N/A	0.550.0x	0.510.0x	0.27+0.1x	0.54+0.1x	0.52+0.1x	0.53+0.1x	0.15-0.3x
Asset Turnover	N/A	0.240.0x	0.200.0x	0.270.0x	0.250.0x	0.240.0x	0.220.0x	0.240.0x
FCF Margin	-1.4%+0.8pp	-3.8%+9.4pp	-7.0%-2.5pp	17.9%+8.5pp	-2.2%-10.7pp	-13.3%-15.6pp	-4.5%-8.5pp	9.4%-13.8pp

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Lennar Corporation LEN	FY2025	$34.2B	$2.1B	6.1%	$18.2B	—
Pultegroup, Inc. PHM	FY2025	$17.3B	$2.2B	12.8%	$21.4B	33/100
D.R. Horton Inc. DHI	FY2025	$34.3B	$3.6B	10.5%	$37.7B	25/100
NVR, Inc. NVR	FY2025	$10.3B	$1.3B	13.0%	$15.7B	30/100
Toll Brothers, Inc. TOL	FY2025	$11.0B	$1.3B	12.3%	$12.3B	41/100
Meritage Homes Corporation MTH	FY2025	N/A	$453.0M	N/A	$3.8B	—

Where Lennar Corporation Ranks

Frequently Asked Questions

What is Lennar Corporation's annual revenue?

Lennar Corporation (LEN) reported $34.2B in total revenue for fiscal year 2025. This represents a -3.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Lennar Corporation's revenue growing?

Lennar Corporation (LEN) revenue declined by 3.5% year-over-year, from $35.4B to $34.2B in fiscal year 2025.

Is Lennar Corporation profitable?

Yes, Lennar Corporation (LEN) reported a net income of $2.1B in fiscal year 2025, with a net profit margin of 6.1%.

How much debt does Lennar Corporation have?

As of fiscal year 2025, Lennar Corporation (LEN) had $3.8B in cash and equivalents against $5.9B in long-term debt.

What is Lennar Corporation's net profit margin?

Lennar Corporation (LEN) had a net profit margin of 6.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Lennar Corporation's return on equity (ROE)?

Lennar Corporation (LEN) has a return on equity of 9.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Lennar Corporation's free cash flow?

Lennar Corporation (LEN) generated $28.2M in free cash flow during fiscal year 2025. This represents a -98.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Lennar Corporation's operating cash flow?

Lennar Corporation (LEN) generated $216.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Lennar Corporation's total assets?

Lennar Corporation (LEN) had $34.4B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Lennar Corporation's capital expenditures?

Lennar Corporation (LEN) invested $188.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Lennar Corporation buy back shares?

Yes, Lennar Corporation (LEN) spent $1.8B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

What is Lennar Corporation's debt-to-equity ratio?

Lennar Corporation (LEN) had a debt-to-equity ratio of 0.27 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Lennar Corporation's return on assets (ROA)?

Lennar Corporation (LEN) had a return on assets of 6.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Lennar Corporation's P/E ratio?

Lennar Corporation (LEN) trades at 13.9x earnings, its market capitalization divided by net income of $1.3B net income, trailing 12 months to August 31, 2026. The market capitalization is $18.2B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Lennar Corporation's price-to-sales ratio?

Lennar Corporation (LEN) trades at 0.6x sales, its market capitalization divided by revenue of $32.0B revenue, trailing 12 months to August 31, 2026. The market capitalization is $18.2B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Lennar Corporation's Piotroski F-Score?

Lennar Corporation (LEN) has a Piotroski F-Score of 3 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Lennar Corporation's earnings high quality?

Lennar Corporation (LEN) has an earnings quality ratio of 0.10x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.