LENNAR CORP /NEW/ LEN

Industrials SIC 1520 - General Bldg Contractors - Residential Bldgs NAICS Construction › Construction of Buildings › Residential Building Construction derived NYSE

We are one of the largest homebuilders in the United States by deliveries, revenues and net earnings, an originator of residential and commercial mortgage loans, a provider of title insurance and closing services and a developer of multifamily rental properties. In addition, we are a sponsor and manager of funds and joint ventures engaged in development and ownership of multifamily rental properties and a sponsor and manager of a fund engaged in ownership of single-family rental properties. We also have investments in companies that are engaged in applying technology to improve the homebuilding industry and real estate related aspects of the financial services industry.

Our homebuilding operations are the most substantial part of our business, generating $32 billion in revenues, or approximately 94% of consolidated revenues, in fiscal 2025.

Last close 84.92 2026-10-23
Market cap $20.45B estimated share count
52-week range 71.78 - 133.76

Valuation FY2025 figures against the last close

P/S0.6x
P/E—
P/FCF725.5x
EV/EBITDA—
Dividend yield2.5%
Diluted EPS—

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $34.19B$35.44B$34.23B$33.67B$27.13B$22.49B$22.26B$20.57B$12.65B$10.95B
SG&A $2.68B$2.48B$2.23B—$398.4M$333.4M$321.2M$343.9M$285.9M$232.6M
Total operating expenses $31.52B$30.67B$28.87B—$22.05B$19.37B$19.80B$18.73B$11.31B$9.69B
Operating income —————$3.48B$2.78B$2.46B$1.48B$1.56B
Interest expense —————————$4.6M
Pre-tax income $2.81B$5.18B$5.20B$6.01B$5.82B$3.12B$2.43B$2.26B$1.19B$1.33B
Income tax $705.6M$1.22B$1.24B$1.37B$1.36B$656.2M$592.2M$545.2M$417.9M$417.4M
Net income $2.08B$3.93B$3.94B$4.61B$4.43B$2.47B$1.85B$1.70B$810.5M$911.8M
EPS, basic 7.9814.3113.7315.7414.287.885.765.463.384.05
EPS, diluted —14.3113.7315.7214.277.855.745.443.383.86
Shares, diluted (wtd. avg.) 257.7M272.0M283.3M289.8M306.6M309.4M318.4M308.6M237.2M235.4M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $3.76B$4.91B$6.57B$4.82B$2.96B$2.93B$1.47B$1.60B$2.69B$1.36B
Property, plant and equipment $642.8M$516.2M$404.8M$355.1M$339.9M$411.5M$279.5M$319.9M$215.1M$173.6M
Goodwill $3.63B$3.63B———$3.63B$3.66B———
Total assets $34.43B$41.31B$39.23B$37.98B$33.21B$29.94B$29.36B$28.57B$18.75B$15.36B
Long-term debt $5.87B$4.19B———$7.42B$9.57B———
Total liabilities $12.29B$13.29B$12.53B$13.74B$12.21B$11.84B$13.33B$13.88B$10.76B$8.15B
Retained earnings $22.47B$25.75B$22.37B$18.86B$14.69B$10.56B$8.30B$6.49B$4.84B$4.31B
Total equity $21.96B$27.87B$26.70B$24.24B$21.00B$18.10B$16.03B$14.68B$7.99B$7.21B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $216.8M$2.40B$5.18B$3.27B$2.53B$4.19B$1.48B$1.69B$982.4M$507.8M
Depreciation and amortisation $134.3M$115.5M$110.2M$87.1M$86.0M$94.6M$92.2M$91.2M$66.3M$50.2M
Stock-based compensation $163.5M$176.7M$160.7M$184.1M$134.6M$107.1M$86.9M$72.7M$61.4M$55.5M
Capital expenditure $188.6M$171.5M$99.8M$57.2M$65.2M$72.8M$86.5M$130.4M$111.8M$76.4M
Investing cash flow $221.6M-$302.6M-$177.0M-$128.3M-$105.1M-$280.2M$19.6M-$594.0M-$845.1M-$85.8M
Financing cash flow -$1.60B-$3.68B-$3.25B-$1.28B-$2.40B-$2.45B-$1.63B-$2.20B$1.19B-$250.9M
Dividends paid $521.0M$548.8M$430.6M$438.0M$309.8M$195.0M$51.5M$49.2M$37.6M$35.3M
Buybacks $1.81B$2.26B$1.18B$1.04B$1.43B$321.5M$523.1M$299.8M$27.1M$19.9M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-003870.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 10B 20B 30B 40B Revenue, FY2016: 10.9B Net income, FY2016: 911.8M Revenue, FY2017: 12.6B Net income, FY2017: 810.5M Revenue, FY2018: 20.6B Net income, FY2018: 1.7B Revenue, FY2019: 22.3B Net income, FY2019: 1.8B Revenue, FY2020: 22.5B Net income, FY2020: 2.5B Revenue, FY2021: 27.1B Net income, FY2021: 4.4B Revenue, FY2022: 33.7B Net income, FY2022: 4.6B Revenue, FY2023: 34.2B Net income, FY2023: 3.9B Revenue, FY2024: 35.4B Net income, FY2024: 3.9B Revenue, FY2025: 34.2B Net income, FY2025: 2.1B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $10.95B $12.65B $20.57B $22.26B $22.49B $27.13B $33.67B $34.23B $35.44B $34.19B
Gross profit — — — — — — — — — —
Net income $911.8M $810.5M $1.70B $1.85B $2.47B $4.43B $4.61B $3.94B $3.93B $2.08B

Recent filings and events

  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02
  • Officer or director change Item 5.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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