— Know what they know.
/
Not Investment Advice

LEN

NYSE · USD
Lennar Corporation
Consumer Cyclical · Residential Construction
CEO Stuart A. Miller Employees 12,532 R&D / revenue 0.0%
Last price
$77.08−0.79%last session
Market cap
$18.3B
P/E (TTM)
14.6x
From 52w high
−42.4%
From 52w low
+7.4%
1-year return
−35.9%
RSI 14 · vs SMA200
46.6 · −15.7%
IS score
39.8/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

LEN   SPY   XLY (sector ETF) · weekly closes
6080100120Jan 26Apr 26Jul 26Oct 26SPY 116XLY 97LEN 64

Score DNA

Each bar is a 0-100 score within the scored universe
20
Profitability
14
Growth
79
Value
36
Momentum
90
Risk (safety)
56
Quality
71
Balance sheet
83
Earnings quality

Flags

Strengths
✓ Insider buying✓ Congress buying
Warnings
None of the computed warning flags fires for LEN (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: Narrow, Efficient ScalePiotroski 5 / 9Altman Z 3.6Beta 1.404 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
45
$595.29M bought
No Form 144 notices in 12 months
CONGSTOCK Act · 180 days
Congressional purchases
2
Last disclosed purchase 2026-08-10
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+1
118 new holders, 110 closed
941 filers hold 90.3% · 392 added, 309 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+6
768 funds adding shares
762 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
50.4%
20-day avg 55.8%, 50-day avg 59.4%
Latest 5.4 pp under its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$34.2B
Revenue growth YoY−3.6%
Gross margin17.7%
Operating income$2.8B
Operating margin8.0%
Net income$2.1B
Net margin6.0%
EPS (diluted)$7.98
Cash flow
Operating cash flow$216.8M
Capital expenditure$188.6M
Free cash flow$28.2M
FCF conversion (FCF / OCF)13.0%
Stock-based compensation$163.5M
FCF less SBC−$135.3M
Buybacks$1.8B
Dividends$521.0M
Balance sheet & returns
Cash & short-term investments$3.8B
Total debt$6.1B
Net debt$2.3B
Shareholders' equity$22.1B
Goodwill & intangibles$3.6B
Debt / equity0.20
ROE (TTM)6.0%
ROIC (TTM)4.0%
Operating margin by fiscal year
18.8%FY202120.1%FY202215.8%FY202313.5%FY20247.7%FY2025
Revenue $27.1B (FY2021) to $34.2B (FY2025), a 5.9% CAGR.

Valuation

P/E (TTM)14.6x
EV / EBITDA10.7x
Price / sales0.57x
Price / FCF20.2x
FCF yield4.95%
Buyback yield9.86%
SBC / revenue0.4%
Price / book0.85x
Forward P/E FY202615.9x
Forward P/E FY202714.6x
Forward P/E FY202811.9x
Forward multiples divide today's price by Street EPS estimates. Street mean target $72.13 across 8 analysts last quarter is theirs, not ours.

LEN vs industry median

52 companies in Residential Construction
Gross margin 9.5% 18.7% Operating margin 5.3% 7.5% Net margin 4.1% 4.6% ROIC 4.0% 9.0%
LEN (TTM)Industry median Asset turnover 0.96 vs industry 0.92 · financial leverage 1.55

Earnings delivery

Next report 2026-12-15 · consensus EPS $1.46
67%
beat rate, 8 of 12 quarters
+8.4%
median EPS surprise
8
longest beat streak
+33+30+10+5+17+6+17+26-2-5-2-4
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-03-14 to 2026-09-16. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
LEN Lennar Corporation $18.3B14.6x6.0%4.1%−3.6% −35.9%
NVR NVR, Inc. $15.9B14.6x31.5%10.2%−10.6% −22.2%
PHM PulteGroup, Inc. $21.6B11.6x14.9%11.9%−7.3% −7.5%
TOL Toll Brothers, Inc. $12.3B10.7x14.4%10.5%−1.1% +0.3%
DHI D.R. Horton, Inc. $39.0B13.2x12.8%9.8%−3.5% −7.8%
TMHC Taylor Morrison Home Corpora $6.7B10.6x11.0%7.2%−9.0% —
IBP Installed Building Products, $4.9B19.9x38.5%8.3%+0.3% —
MDC M.D.C. Holdings, Inc. $4.7B54.8x2.5%2.2%+5,346.9% —
12-month window: SPY +15.9%, sector ETF XLY −3.2%. Past returns describe history only.

Recent 8-K filings

No 8-K filings on file.

Context

Shares outstanding237,900,252
Free float85.8%
Institutional ownership90.3%
Beta1.40
Dividend yield2.59%
Last dividend$0.50 on 2026-10-07
50 / 200-day average$82.02 / $92.82
Large-cap Consumer Cyclical median P/E24.3x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where LEN sits among 20 scored companies in Residential Construction (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureLENIndustry medianIndustry percentileSector median
P/E (TTM) 14.0x 12.8x
61st		 17.7x
PEG (P/E ÷ 3-yr EPS CAGR) —
Price / sales 0.6x 0.8x
26th		 1.0x
Price / book 0.9x 1.1x
37th		 2.4x
Price / tangible book 1.1x 1.2x
39th		 4.2x
Price / free cash flow 20.2x 15.8x
71st		 15.2x
Price / operating cash flow 17.6x 14.0x
67th		 10.2x
Enterprise value $21.5B $3.7B
84th		 $5.6B
EV / sales 0.7x 1.2x
11th		 1.4x
EV / EBITDA 10.7x 10.7x
50th		 11.4x
EV / EBIT 11.3x 11.3x
50th		 16.0x
EV / free cash flow 23.7x 16.2x
71st		 21.0x
Earnings yield 7.2% 7.5%
42nd		 4.8%
FCF yield 5.0% 6.1%
37th		 5.9%
Operating cash flow yield 5.7% 6.9%
37th		 9.3%
Graham number (per share) $106.09 $91.95
61st		 $33.39

Profitability (TTM)

MeasureLENIndustry medianIndustry percentileSector median
Gross margin 9.5% 22.4%
0th		 34.2%
EBITDA margin 6.3% 10.2%
37th		 11.7%
Operating margin 5.3% 9.5%
26th		 8.7%
EBIT margin 5.9% 9.3%
37th		 8.2%
Net margin 4.1% 6.6%
32nd		 4.9%
NOPAT margin 4.0% 7.3%
21st		 6.8%
FCF margin 2.8% 7.0%
26th		 6.5%
Operating cash flow margin 3.3% 7.8%
26th		 10.4%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 4.1% 11.4%
0th		 17.2%
Stock comp / revenue 0.4% 0.4%
56th		 0.6%
Effective tax rate 25.8% 23.2%
89th		 22.4%

Returns on capital

MeasureLENIndustry medianIndustry percentileSector median
ROE (on average equity) 5.9% 9.6%
32nd		 12.8%
ROA 3.8% 5.5%
32nd		 4.4%
ROIC 5.1% 9.7%
26th		 9.3%
ROCE 6.0% 8.8%
37th		 9.9%
Return on tangible assets 5.6% 8.3%
37th		 7.4%
Cash ROIC (OCF / invested capital) 4.2% 6.5%
32nd		 14.4%
Gross profitability (GP / assets) 9.1% 18.3%
11th		 31.6%
ROIC, 3-yr average 7.4% 11.1%
21st		 7.4%
ROIC, 5-yr average 11.5% 15.7%
21st		 9.1%
ROE, 5-yr average 13.6% 19.0%
16th		 15.8%
Incremental ROIC 30.5% 13.2%
68th		 11.2%

Growth

MeasureLENIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) -8.1% -8.4%
53rd		 6.0%
Revenue growth (QoQ) 1.3% 16.7%
0th		 6.6%
Revenue CAGR, 3 yr -1.5% -0.4%
32nd		 3.0%
Revenue CAGR, 5 yr 4.6% 4.2%
53rd		 5.9%
Gross profit CAGR, 3 yr -27.5% -5.5%
0th		 3.3%
Operating income CAGR, 3 yr -31.7% -13.5%
17th		 2.1%
Net income growth (TTM YoY) -51.1% -37.9%
28th		 4.7%
Net income CAGR, 3 yr -30.5% -17.1%
17th		 1.4%
EPS growth (TTM YoY) -47.5% -34.4%
28th		 7.6%
EPS CAGR, 3 yr -26.3% -15.0%
17th		 3.4%
EPS CAGR, 5 yr -16.3% 1.0%
17th		 2.9%
FCF growth (TTM YoY) —
FCF CAGR, 3 yr -44.2% -22.0%
20th		 6.5%
Operating cash flow CAGR, 3 yr -41.9% -23.2%
25th		 6.7%
Book value CAGR, 3 yr -0.0% 9.6%
5th		 8.1%
Dividend CAGR, 3 yr 3.5% 5.2%
33rd		 3.2%
Sustainable growth rate 3.7% 9.5%
17th		 12.2%

Margin history & stability

MeasureLENIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 17.5% 23.4%
11th		 34.9%
Operating margin, 3-yr average 9.9% 9.9%
47th		 8.0%
Net margin, 3-yr average 7.8% 8.1%
42nd		 4.8%
FCF margin, 3-yr average 3.8% 4.1%
32nd		 5.7%
Revenue stability (0-1) 0.42 0.44
32nd		 0.80
Earnings stability (0-1) 0.70 0.36
84th		 0.43
Margin stability (0-1) 0.68 0.89
0th		 0.92

Liquidity (latest quarter)

MeasureLENIndustry medianIndustry percentileSector median
Cash & short-term investments $1.2B $328.0M
79th		 $278.1M
Net cash (− = net debt) −$3.1B −$740.8M
5th		 −$1.2B
Working capital $13.3B $2.4B
89th		 $298.0M
Current ratio 8.38 4.60
74th		 1.49
Quick ratio 1.17 1.17
47th		 0.92
Cash ratio (cash + ST investments / current liabilities) 0.64 0.61
58th		 0.31
Defensive interval (days) 568 days 411 days
74th		 290 days

Leverage & solvency (latest quarter)

MeasureLENIndustry medianIndustry percentileSector median
Total debt $4.3B $1.3B
89th		 $1.8B
Debt / equity 0.20 0.33
26th		 1.04
Net debt / equity 0.15 0.21
37th		 0.78
Debt / assets 12.9% 19.8%
26th		 39.7%
Debt / capital 16.6% 24.6%
26th		 51.0%
Debt / EBITDA 2.14 1.95
56th		 3.26
Net debt / EBITDA 1.57 1.24
56th		 2.42
Interest coverage (EBIT / interest) 16.6x 32.9x
33rd		 5.1x
Cash interest coverage 9.1x 36.7x
33rd		 6.0x
Debt payback (years of OCF) 4.1 yrs 4.1 yrs
47th		 3.8 yrs
Liabilities / assets 35.0% 36.5%
42nd		 68.1%
IS credit model rating AA — —
Implied credit spread (bps) 80 80
32nd		 275

Efficiency

MeasureLENIndustry medianIndustry percentileSector median
Asset turnover 0.94 0.92
58th		 1.00
Fixed asset turnover —
Inventory turnover 2.2 1.1
74th		 5.3
Receivables turnover 25.8 37.6
35th		 19.9
Days sales outstanding 14 days 7 days
63rd		 18 days
Days inventory outstanding 168 days 332 days
21st		 68 days
Days payables outstanding 21 days 21 days
42nd		 42 days
Cash conversion cycle (days) 161 days 223 days
26th		 44 days
Capex / revenue 0.4% 0.6%
26th		 3.1%
Capex / depreciation 1.29 1.15
58th		 0.89
Operating expense ratio 10.8% 12.3%
32nd		 24.8%

Cash flow & earnings quality

MeasureLENIndustry medianIndustry percentileSector median
Operating cash flow / net income 0.79 0.93
33rd		 1.76
FCF / net income 0.69 0.79
33rd		 1.18
FCF / operating cash flow 87.1% 90.4%
29th		 70.1%
Capex / operating cash flow 12.9% 9.6%
65th		 29.9%
Accruals ratio 0.8% 0.5%
53rd		 -5.7%
Sloan accruals ratio -0.2% -0.3%
53rd		 -3.6%
Earnings quality score (0-1) 0.50 0.75
22nd		 0.75

Dividends & buybacks

MeasureLENIndustry medianIndustry percentileSector median
Dividend yield 2.6% 0.0%
89th		 0.8%
Dividend per share (TTM) $2.00 $0.00
89th		 $0.40
Payout ratio (dividends / net income) 37.6% 9.9%
83rd		 17.8%
Dividends / FCF 54.2% 7.2%
76th		 11.6%
Dividend growth (YoY) 0.1% 5.5%
33rd		 4.8%
Buyback yield 5.4% 5.4%
53rd		 1.6%
Shareholder yield (dividends + buybacks) 8.1% 6.7%
68th		 3.7%
Share count change (YoY) -7.0% -4.7%
26th		 -0.9%
Buybacks, last 5 years $848.0M $615.5M
68th		 $198.3M

Scores & forensic checks

MeasureLENIndustry medianIndustry percentileSector median
IS score 40 41
42nd		 50
IS profitability 20 31
32nd		 38
IS growth 14 16
37th		 53
IS value 79 79
58th		 50
IS momentum 36 38
32nd		 72
IS risk (safety) 90 95
37th		 65
IS quality 56 58
42nd		 63
IS balance sheet 71 72
37th		 48
IS earnings quality 83 83
47th		 77
IS cash flow 42 56
32nd		 56
Piotroski F-score (0-9) 5 4
58th		 6
Altman Z-score 3.6 4.0
42nd		 2.8
Beneish M-score −2.79 −2.46
16th		 −2.69
Ohlson O-score −9.71 −9.71
47th		 −6.83
IS credit score 86 87
47th		 58

Per share

MeasureLENIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $5.52 $5.23
53rd		 $2.05
Book value per share $90.68 $85.63
63rd		 $14.46
Tangible book per share $76.78 $76.78
47th		 $3.70
Revenue per share $134.48 $111.77
63rd		 $46.29
FCF per share $3.82 $5.23
37th		 $2.72
Operating cash flow per share $4.38 $5.58
37th		 $4.86
Cash per share $4.84 $8.47
37th		 $3.59

Size (TTM)

MeasureLENIndustry medianIndustry percentileSector median
Market cap $18.3B $3.5B
84th		 $3.6B
Revenue $32.0B $4.0B
89th		 $3.9B
EBITDA $2.0B $361.3M
84th		 $442.3M
Net income $1.3B $239.1M
84th		 $178.6M
Free cash flow $908.2M $199.4M
74th		 $206.3M
Total assets $33.4B $4.3B
89th		 $4.4B
Shareholders' equity $21.6B $2.3B
89th		 $957.6M
Employees 12,532 2,014
89th		 12,300

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-10-07Mcclure Teri P
Director
 Award / grant 15$76.13$1,14232,013
2026-10-07Banse Amy
Director
 Award / grant 15$76.13$1,14216,977
2026-10-07Hudson Sherrill W
Director
 Award / grant 15$76.13$1,14238,308
2026-10-07Smith Dacona
Director
 Award / grant 15$76.13$1,1426,292
2026-10-07Wolfe Serena
Director
 Award / grant 15$76.13$1,1426,362
2026-10-07Gilliam Theron I
Director
 Award / grant 15$76.13$1,14236,838
2026-10-07Olivera Armando J
Director
 Award / grant 24$76.13$1,82723,371
2026-10-07Sonnenfeld Jeffrey
Director
 Award / grant 21$76.13$1,59928,209
2026-10-02Berkshire Hathaway Inc
10 percent owner
 Open-market buy 448,113$78.37$35.1M27,188,239
2026-10-02Berkshire Hathaway Inc
10 percent owner
 Open-market buy 342,553$79.03$27.1M27,530,792
2026-10-02Berkshire Hathaway Inc
10 percent owner
 Open-market buy 842,753$80.04$67.5M28,373,545
2026-10-02Berkshire Hathaway Inc
10 percent owner
 Open-market buy 44,300$81.14$3.6M28,417,845

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJulAugSepOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired282,051$177,130
GiftDisposed12,000—
Open-market buyAcquired457,502,276$595.3M
—Disposed60—
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

FiledFilerShares proposedEst. proceeds
None on file.
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 17 trades (8 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-25Ro KhannaHouseSale$1,001 - $15,0002026-10-09
2026-09-11Ro KhannaHouseSale$1,001 - $15,0002026-10-09
2026-08-10Ro KhannaHousePurchase$1,001 - $15,0002026-09-07
2026-07-07Ro KhannaHouseSale$1,001 - $15,0002026-08-12
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.18,345,964$1.7B7.71%
VANGUARD CAPITAL MANAGEMENT LLC13,021,553$1.2B5.47%
GREENHAVEN ASSOCIATES INC11,316,279$1.0B4.76%
STATE STREET CORP10,427,376$943.6M4.38%
VANGUARD PORTFOLIO MANAGEMENT LLC9,547,076$863.9M4.01%
Aristotle Capital Management, LLC7,836,325$709.1M3.29%
MANUFACTURERS LIFE INSURANCE COMPANY, THE6,683,066$604.8M2.81%
GEODE CAPITAL MANAGEMENT, LLC5,832,989$525.8M2.45%
ACR Alpine Capital Research, LLC4,743,250$429.2M1.99%
GOLDMAN SACHS GROUP INC3,585,545$324.5M1.51%
Invesco Ltd.3,494,717$316.2M1.47%
PRINCIPAL FINANCIAL GROUP INC3,419,787$309.5M1.44%
Capital World Investors3,303,761$299.0M1.39%
VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V.2,692,266$243.6M1.13%
BANK OF AMERICA CORP /DE/2,656,473$240.4M1.12%

Institutional ownership by quarter

2023-092026-0690.3%
% of shares held by 13F filers
2023-092026-06941
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-3094190.3%118392309110
2026-03-3194086.1%121356337130
2025-12-3197086.1%147273419143
2025-09-3098490.1%154357331103
2025-06-3094296.3%117353344133
2025-03-3197293.5%136367344170
2024-12-311,02495.9%157364377169
2024-09-301,05795.2%15636938878
2024-06-3098497.5%91416333116
2024-03-311,02897.2%15334937965
2023-12-3195398.9%16729536775
2023-09-3087299.7%9534028874

Schedule 13D / 13G filers

FiledFormFiler% of classShares
None on file.
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
AFTY2.44%$450.7M
VITSX0.02%$435.6M
VTI0.02%$435.6M
VSMPX0.02%$435.6M
VTSAX0.02%$435.6M
VFINX0.02%$414.5M

Share structure

Shares outstanding237,900,252
Float204,058,565
Free float85.8%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$27.1B$33.7B$34.3B$35.5B$34.2B
Cost of revenue$19.8B$24.5B$26.1B$27.5B$28.1B
Gross profit$7.3B$9.2B$8.2B$8.0B$6.1B
R&D$0$0$0$0$0
SG&A$2.3B$2.4B$2.8B$3.2B$2.7B
Operating income$5.1B$6.8B$5.4B$4.8B$2.8B
EBITDA$5.9B$6.1B$5.3B$5.3B$3.0B
Pretax income$5.8B$6.0B$5.2B$5.2B$2.8B
Income tax$1.4B$1.4B$1.2B$1.2B$705.6M
Net income$4.4B$4.6B$3.9B$3.9B$2.1B
EPS, diluted$14.27$15.72$13.73$14.31$7.98
Diluted shares306.6M289.8M283.3M272.0M257.7M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$2.9B$4.8B$6.6B$5.0B$3.8B
Receivables$1.3B$1.6B$1.7B$1.7B$1.5B
Inventory$19.2B$21.9B$18.9B$20.3B$11.8B
Total current assets$23.4B$28.3B$27.2B$27.0B$17.1B
PP&E, net$495.5M$505.1M$550.6M$791.4M$911.8M
Goodwill & intangibles$3.6B$3.6B$3.6B$3.6B$3.6B
Total assets$33.2B$38.0B$39.2B$41.3B$34.4B
Accounts payable$1.3B$1.6B$1.6B$1.8B$1.8B
Total current liabilities$4.6B$5.9B$6.7B$7.8B$5.5B
Long-term debt$4.1B$4.0B$2.5B$1.9B$3.9B
Total liabilities$12.2B$13.7B$12.5B$13.3B$12.3B
Shareholders' equity$21.0B$24.2B$26.7B$28.0B$22.1B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$4.5B$4.6B$4.0B$4.0B$2.1B
Depreciation & amortization$86.0M$87.1M$110.2M$115.5M$134.3M
Stock-based compensation$134.6M$184.1M$160.7M$176.7M$163.5M
Change in working capital−$1.7B−$2.3B$571.5M−$2.0B−$2.4B
Operating cash flow$2.5B$3.3B$5.2B$2.4B$216.8M
Capital expenditure−$65.2M−$57.2M−$99.8M−$171.5M−$188.6M
Free cash flow$2.5B$3.2B$5.1B$2.2B$28.2M
Investing cash flow−$105.1M−$128.3M−$177.0M−$302.6M$221.6M
Net debt issued / repaid−$1.1B−$214.0M−$1.2B−$830.2M$1.6B
Buybacks−$1.4B−$1.0B−$1.2B−$2.3B−$1.8B
Dividends paid−$309.8M−$438.0M−$430.6M−$548.8M−$521.0M

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin27.1%27.3%24.0%22.6%15.6%
Operating margin18.8%20.1%15.8%13.5%7.7%
Net margin16.3%13.7%11.5%11.1%6.1%
FCF margin9.1%9.5%14.8%6.3%0.1%
ROE22.8%20.5%15.5%14.4%8.3%
ROIC16.0%20.4%16.4%13.4%8.1%
ROA14.0%13.0%10.2%9.8%5.5%
Debt / equity0.310.260.190.160.29
Interest coverage—————
Current ratio5.064.834.043.443.12
Revenue growth+20.8%+24.2%+1.7%+3.5%−3.8%
EPS growth+84.4%+9.2%−12.2%+4.4%−44.0%
P/E at year end6.7x5.2x8.8x11.7x15.9x
EV / EBITDA at year end5.7x4.2x6.3x8.5x12.1x
FCF yield at year end8.28%13.26%14.63%4.87%0.09%
Dividend payout7.0%9.5%10.9%14.0%25.1%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Lennar Homebuilding East, Central, West, Houston, and Other$25.5B$32.0B$32.7B$33.9B$32.3B
Lennar Financial Services$898.7M$809.7M$976.9M$1.1B$1.2B
Lennar Multifamily$665.2M$865.6M$573.7M$521.5M$750.0M
Lennar - Other$31.0M$44.4M$27.7M$79.5M$179.4M

Revenue by region · FY2025

Homebuilding West$11.9B · 45%
Homebuilding Central$7.8B · 29%
Homebuilding East$7.0B · 26%
Homebuilding Other Regions$26.8M · 0%

Street estimates by fiscal year

Next report 2026-12-15 · consensus EPS $1.46 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$31.5B$30.9B – $32.3B$4.86$4.65 – $5.291015.9x
2027$32.0B$31.2B – $33.6B$5.26$4.72 – $6.761214.6x
2028$33.8B$32.0B – $37.4B$6.46$4.42 – $9.531011.9x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-09-16$1.28$1.23−3.9%$8.3B$8.0B−3.8%
2026-03-12$0.95$0.93−2.4%$6.8B$6.6B−3.2%
2025-09-18$2.10$2.00−4.8%$9.0B$8.8B−2.0%
2025-06-16$1.94$1.90−2.1%$8.2B$8.4B+2.2%
2025-03-20$1.70$2.14+25.9%$7.4B$7.6B+2.5%
2024-09-19$3.63$4.26+17.4%$9.1B$9.4B+2.7%
2024-06-17$3.24$3.45+6.5%$8.5B$8.8B+3.5%
2024-03-13$2.20$2.57+16.8%$7.4B$7.3B−1.4%
2023-12-14$4.59$4.82+5.0%$10.2B$11.0B+7.9%
2023-09-14$3.51$3.87+10.3%$9.4B$8.7B−6.8%
2023-06-14$2.32$3.01+29.7%$7.9B$8.0B+2.2%
2023-03-14$1.55$2.06+32.9%$6.7B$6.5B−3.9%
2022-09-21$4.87$5.19+6.6%$8.9B$8.9B−0.2%
2022-06-21$3.96$4.49+13.4%$8.1B$8.4B+3.0%
2022-03-16$2.60$2.70+3.8%$6.2B$6.2B+0.7%
2021-09-20$3.24$3.27+0.9%$6.9B$6.9B+0.8%
2021-06-16$2.36$2.40+1.7%$5.8B$6.4B+10.2%
2021-03-16$1.65$2.04+23.6%$3.8B$5.3B+39.7%
2020-09-14$1.55$2.12+36.8%$4.3B$5.9B+36.0%
2020-06-15$1.18$1.65+39.8%$3.8B$5.3B+39.1%
2020-03-19$0.84$1.27+51.2%$3.0B$4.5B+51.3%
2020-01-08$1.90$2.13+12.1%$6.2B$7.0B+12.2%
2019-10-02$1.32$1.59+20.5%$4.9B$5.9B+20.5%
2019-06-25$1.14$1.30+14.0%$8.3B$5.6B−32.9%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.306-150.306-220.206-290.207-060.207-130.307-200.307-270.208-030.208-100.308-170.308-240.308-31
Week ofNotionalSharesTrades
2026-08-31$309.1M3,685,54885,063
2026-08-24$285.7M3,278,28169,299
2026-08-17$322.1M3,717,47278,307
2026-08-10$220.1M2,544,94961,900
2026-08-03$245.3M2,845,51372,284
2026-07-27$294.7M3,464,34677,289

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1550.4%
DateShort shareShort volumeTotal volume
2026-10-1550.4%1,371,3992,721,488
2026-10-1461.1%1,451,6782,377,458
2026-10-1368.4%1,223,9701,790,478
2026-10-1262.7%1,025,5961,636,609
2026-10-0963.9%1,087,8981,702,584
2026-10-0857.0%1,411,8192,475,537
2026-10-0748.4%1,041,5282,150,144
2026-10-0645.1%1,164,7182,584,092
2026-10-0562.1%3,048,9644,910,918
2026-10-0270.2%2,904,0894,139,444
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+4.6Jan-1.2Feb+0.9Mar+2.8Apr-1.2May-1.7Jun+2.6Jul+0.9Aug-0.8Sep-1.2Oct+3.0Nov+2.3Dec
MonthAvg returnUp yearsYears
Jan+4.6%75%20
Feb−1.2%50%20
Mar+0.9%67%21
Apr+2.8%50%20
May−1.2%40%20
Jun−1.7%55%20
Jul+2.6%60%20
Aug+0.9%50%20
Sep−0.8%45%20
Oct−1.2%45%20
Nov+3.0%75%20
Dec+2.3%60%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1446.6
MFI33.1
ADX19.6
Stochastic %K / %D36.2 / 25.8
Williams %R-55.5
CCI-22
TSI / signal-13.5 / -12.8
Chaikin money flow0.09
ATR$3.05
Bollinger width14.8%
Volume vs 20-day avg0.76x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$78.44 (−1.7%)
SMA 50$81.41 (−5.3%)
SMA 200$91.47 (−15.7%)
EMA 21$77.93 (−1.1%)
EMA 50$80.44 (−4.2%)
EMA 200$91.07 (−15.4%)
Bollinger upper$84.23 (−8.5%)
Bollinger lower$72.64 (+6.1%)
Parabolic SAR$80.02 (−3.7%)
Open the live chart, 110+ indicators

About Lennar Corporation

Lennar Corporation, an influential homebuilder in the United States, operates primarily under its widely recognized Lennar brand, alongside its various subsidiaries. The company structures its diverse business initiatives across several distinct divisions: regional homebuilding segments (East, Central, Texas, and West), a Financial Services arm, a Multifamily property development unit, and a broader "Lennar Other" category. At the heart of its operations, Lennar is deeply involved in the creation and sale of single-family homes, encompassing both attached and detached designs. Its activities also span the acquisition, development, and subsequent sale of land designated for residential use, in addition to the comprehensive development, construction, and ongoing management of rental properties in the multifamily sector. Expanding beyond physical construction, Lennar provides essential services such as residential mortgage financing, title protection, and closing services for its clientele and other interested parties. It also actively originates and divests securitized commercial mortgage loans. Furthermore, the corporation participates in strategic fund investment endeavors. Lennar's extensive customer base primarily caters to first-time purchasers, individuals seeking to upgrade their homes, active adult communities, and the luxury housing market. This enterprise, founded in 1954, is officially based in Miami, Florida.

https://www.lennar.com

Key executives

NameTitlePayBorn
Stuart A. MillerExecutive Chairman, CEO & President$3.8M1958
Diane J. BessetteChief Financial Officer & Vice President$3.6M1961
Katherine Lee MartinChief Legal Officer & Corporate Secretary$2.0M1977
David CollinsVice President & Controller$1.3M1970
Chris CassidyRegional President——
David GroveExecutive Vice President of Homebuilding——
Drew HollerChief HR Officer——
Jim ParkerChief Operating Officer——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Stuart Miller Executive Chairman2025$1.0M$25.7M$2.8M$29.5M
Jonathan M. Jaffe Former Co-Chief Executive Officer and President2025$800,000$22.5M$0$23.4M
Diane Bessette Vice President and Chief Financial Officer2025$750,000$4.7M$2.9M$8.3M
Katherine Lee Martin Chief Legal Officer & Corporate Secretary2025$147,945$6.0M$1.4M$8.0M
Mark Sustana Former Vice President, General Counsel & Secretary2025$376,712$1.6M$0$2.3M
David Collins Vice President, Controller2025$350,000$1.0M$902,500$2.3M

Employees

12k201810k20199k202011k202112k202212k202313k202413k2025

Dividends

Ex-dateAmountPaid
2026-10-07$0.52026-10-22
2026-07-10$0.52026-07-24
2026-04-22$0.52026-05-06
2026-02-04$0.52026-02-19
2025-10-10$0.52025-10-27
2025-07-03$0.52025-07-18
2025-04-23$0.52025-05-07
2025-01-29$0.52025-02-12

Moat model

Narrow · Efficient Scale · 2026-08-31
Cost advantage82
Intangibles14
Switching costs60
Network effect45
Efficient scale90
Our component scores (0-100) and overall 55.2; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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