Lennar Corporation

Residential Construction

LENMixed8 of 11 basics passed

$76.69

-1.17%

Market cap $18.2B

$76.69

-1.17%

Market cap $18.2B

Lennar is the second-largest public homebuilder in the United States, behind D.R. Horton, operating in 26 states.

It is a $18.2B consumer company. Revenue shrank 8.0% over the last year, it keeps 4¢ of every dollar of sales as profit, and its net debt equals ~2.7 years of free cash flow. It trades at 13.9× earnings — near the highest of its own history.

Website: lennar.com
Location: Miami, FL
Employees: 12 532
Sector: Consumer Cyclical

Share price · 3 years

$109.46 → $76.69-29.9%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $32.0B
Profit: keeps 4¢ of every $1 sold; $1.31B
Free cash flow: cash left after running the business; $795M
Net debt: debt minus cash on hand; $2.12B
P/E: years of profit in the price; 13.9
EPS: earnings per share, TTM; $5.02
Dividend: pays out 38% of profit · 62% of FCF; 2.70%
Shares: up 12% since 2016 — dilution; 260.4M
Volatility: beta vs the market — under 1 swings less; 1.40

Revenue, last 10 years

52-week range

Low $74.44$76.69High $133.13

Today's price is 4% of the way from the year's low to its high.

P/E vs its history5y

14.2×median 7.8×

Higher than 97% of past days — near the highest of its own history.

Valuation vs own history

P/E

14.2×

P/S

0.6×

100%

EV/EBITDA

12.9×

P/B

0.9×

100%

FCF yield

4.9%

11%

Share of the last ~5 years that was pricier than today (in line with its own history). Based on the daily valuation record.

Earnings

Sep 16, 2026EPS $1.23 vs est $1.32miss -7%

Insider activity · 90 days

+$193Mnet buying

Purchases$193M

Sales$0

Insiders trading, last 14d1 buy · 0 sell

Standing in Consumer Cyclical

Size$18.2Btop 53%
Revenue growth+1%top 80%
Net margin4%top 69%
Return on equity6%top 83%
P/E13.9×top 17%
Dividend yield2.70%top 34%

Ranked against 99 Consumer Cyclical companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Growth, Profitability and Moat lag behind.

Valuation57

P/E vs own history97th pct · 0/25
FCF yield4.4% · 12/25
P/S0.6x · 25/25
EV/EBITDA11.8x · 20/25

Growth18

Revenue CAGR5.9% · 12/25
Net income CAGR-17.2% · 0/25
EPS CAGR ~5Y0.3% · 6/25
Fwd implied growth-7.1% · 0/25

Profitability28

ROIC8.6% · 12/25
ROE6.0% · 5/25
Net margin4.1% · 6/25
Operating margin5.6% · 5/25

Health70

Altman Zn/a · 0/25
Current ratio7.79 · 25/25
Interest coverage11.9x · 25/25
Net cash / debtD/A 6% · 20/25

Quality50

Piotroski F4/9 · 10/25
Beneish M1.97 · 0/25
FCF conversion62% · 15/25
Margin stabilityσ 4.9% · 25/25

Moat49

ROIC >12% years4/10 yrs · 6/25
Median gross margin13.8% · 0/25
FCF-positive years10/10 yrs · 25/25
Worst-year net marginworst 6.1% · 18/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

Q4 2026Insiders
15 open-market insider purchases
~2.4M shares bought by insiders
FY2022Financial
Became debt-free
cash now exceeds total debt
FY2022Financial
Best year on record
$4.61B net income
FY2016Financial
Profitable every year on record
10 consecutive profitable years in our data
FY2016Financial
Revenue already above $10B
$10.9B in first reported year
FY2016Financial
Positive free cash flow every year since
10-year streak

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$8 035 today — price return only

$34.2B revenue in FY2025

Profitable 10 years in a row

Positive free cash flow 10 years in a row

12 532 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

Interest covered 11.9× by operating earnings

Watch-outs

Revenue shrinking 8.0% year over year

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

8 of 11 checks passed

Revenue growing — the company sells more than a year ago-8.0% YoY
Profitable — makes more than it spends$1.31B TTM
Profit growing — earnings are higher than last year-20.3% YoY
Generates cash — cash left after running and investing$795M TTM
Debt under control — could handle its obligations~2.7y of cash flow to repay
Established company — not a micro-cap — lower blow-up risk$18.2B market cap
Not printing shares — share count not ballooning — you keep your slice-17.1% shares over ~5y
Proven track record — years of profitability behind it10/10 profitable years
Financially stable — balance sheet not near distresshealth score 50/100
Pays a dividend — returns cash to shareholdersyield 2.70%
Valuation not extreme — price not wildly above earningsP/E 13.9

Peer comparisonLennar Corporation vs 6 largest consumer cyclical peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
LEN this company	$18.2B	13.9	-8.0%	4.1%	Mixed
AMZN Amazon.Com Inc	$2.8T	20.9	+15.8%	17.4%	Mixed
TSLA Tesla, Inc.	$1.5T	397.1	+11.8%	3.7%	Strong
NFLX NetFlix Inc	$292.8B	21.4	+16.0%	28.2%	Solid
HD Home Depot, Inc.	$290.4B	20.4	-16.0%	8.7%	Solid
DIS The Walt Disney Company	$186.5B	21.7	+4.6%	8.7%	Solid
MCD McDonald's Corporation	$166.9B	18.9	+6.3%	31.7%	Strained

Head-to-head: LEN vs AMZN · LEN vs TSLA · LEN vs NFLX

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 2Hold 10Sell 12Strong sell 2

Appendix · Financial records

The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $32.0B · net income $1.31B (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2025 revenue flows to profit

RevenueNet income

Revenue (TTM)

$32.0B

YoY -8.0%

Net income (TTM)

$1.31B

Margin 4.1%

Gross margin

8.1%

Operating margin

5.6%

P/E ratio

13.9

Dividend yield

2.70%

Income statement — full detail

Figures in USD billions · EPS in USD

	2020	2021	2022	2023	2024	2025
Revenue	22.5	27.1	32.0	34.2	35.4	34.2
Gross profit	3.1	27.1	31.9	34.2	35.4	3.4
Operating income (EBIT)	3.1	5.8	6.0	5.2	5.2	2.8
Net income	2.5	4.4	4.6	3.9	3.9	2.1
EPS (diluted)	7.85	14.27	15.72	13.73	14.31	7.98

Cash flowFree cash flow $795M · operating cash flow $937M (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$795M

Margin 2.5%

Operating cash flow (TTM)

$937M

FCF margin

2.5%

Cash flow statement — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Operating cash flow	4.2	2.5	3.3	5.2	2.4	0.2
Capital expenditure	-0.1	-0.1	-0.1	-0.1	-0.2	-0.2
Free cash flow	4.1	2.5	3.2	5.1	2.2	0.0
FCF margin	18.3%	9.1%	10.0%	14.8%	6.3%	0.1%

Balance sheetAssets $34.4B · net debt $2.12B (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $34.4B of assets is financed

36%

64%

Liabilities $12.3B — borrowed moneyEquity $22.0B — owners' stake

Cash vs debt

Total debt $5.87B − cash $3.76B = net debt $2.12B

Cash on hand covers 64% of debt.

Debt repayment

0.0 yrs

Years of free cash flow to clear net debt

Interest coverage

11.9x

EBIT ÷ interest expense

ROE

6.0%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Cash & equivalents	2.9	2.9	4.6	6.3	4.7	3.8
Total assets	29.9	33.2	38.0	39.2	41.3	34.4
Total liabilities	11.8	12.2	13.7	12.5	13.3	12.3
Total debt	7.4	4.7	4.0	2.8	2.3	5.9
Equity	18.0	20.8	24.1	26.6	27.9	22.0
Net debt	4.6	1.7	-0.6	-3.5	-2.4	2.1

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of LEN on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $76.69 · market cap $18.2B.