Lennar Corporation

NYSE•LEN

CEO: Mr. Stuart A. Miller

Sector: Consumer Cyclical

Industry: Residential Construction

Listing Date: 1980-03-17

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company's homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land; and development, construction, and management of multifamily rental properties. It also offers residential mortgage financing, title, insurance, and closing services for home buyers and others, as well as originates and sells securitization commercial mortgage loans. In addition, the company is involved in the fund investment activity. It primarily serves first-time, move-up, active adult, and luxury homebuyers. Lennar Corporation was founded in 1954 and is based in Miami, Florida.

Contact Information

5505 Waterford District Drive, Miami, FL, 33126, United States

305-559-4000

www.lennar.com

Market Cap

$24.48B

P/E (TTM)

13.0

Dividend Yield

2.1%

52W High

$144.24

52W Low

$92.17

52W Range

Rank28Top 16.1%

5.3

F-Score

Modified Piotroski Analysis

Based on 10-year fundamentals

Average • 5.3 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2016-2025

Financial Dashboard

Q1 2026 Data

Revenue

$6.62B+0.00%

4-Quarter Trend

EPS

$0.94+0.00%

4-Quarter Trend

FCF

$0.00+0.00%

4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Home Delivery Volume Increased Home deliveries rose 3% to 82,583 units in FY2025, despite ASP falling 8% to $391,000.

Net Earnings Significantly Lowered Net earnings attributable to Lennar dropped to $2.08B in 2025 from $3.93B in 2024.

Land-Light Strategy Adoption Controlled homesites reached 98% of total inventory, up from 82% in 2024, accelerating land-light focus.

Homebuilding Margins Compressed Homebuilding gross margin fell to 17.7% in 2025, impacted by lower revenue per square foot.

Risk Factors

Home Sales ASP Declining Average sales price dropped 8% to $391,000, requiring increased sales incentives to maintain pace.

Increased Leverage Position Homebuilding debt to total capital ratio increased to 15.7% in 2025, up from 7.5% last year.

Interest Rates Limit Affordability Continued high interest rates limit buyer financing ability, potentially decreasing demand for new homes.

Operational Cost Inflation Risks Inflation increases costs for capital, labor, and materials, pressuring operating margins in future periods.

Outlook

Q1 2026 Margin Guidance Expect Q1 2026 operating margins between 15% and 16% on seasonally light sales volume.

Full Year 2026 Delivery Target Expect approximately 85,000 home deliveries for the full 2026 fiscal year, driven by efficient platform.

Technology Investment Focus Technology initiatives are key to absorbing required price reductions and increasing future profit levels when market normalizes.

Managing Liquidity and Debt Exploring transactions like debt issuance or stock repurchase to manage leverage and liquidity positions.

Peer Comparison

Revenue (TTM)

STLA

$343.12B

-15.8%

DHI

$33.52B

-8.6%

LEN

$33.14B

-7.5%

Gross Margin (Latest Quarter)

ROL

47.5%

+0.5pp

VIK

36.7%

+1.4pp

CUK

26.7%

-8.7pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
DHI	$40.90B	12.3	13.8%	16.0%
LVS	$36.29B	22.3	82.9%	73.6%
CCL	$33.23B	11.4	25.4%	54.2%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

-7.5%

Growth Under Pressure

4Q Net Income CAGR

-21.7%

Declining Profitability

Cash Flow Stability

25%

Cash Flow Needs Attention

Deep Research

Next earnings:Mar 18, 2026

EPS:-

Revenue:-

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data