L 
Lennar LEN · USD
Consumer Discretionary · Household Durables · US listing · 🇺🇸 United States
S&P 500
91.58
+3.20%
Close of 9 Nov 2026, in USD
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in USD, from our data supplier.
Revenue
$34.19bn
FY2016FY2025
Net income
$2.08bn
FY2016FY2025
Free cash flow
$28.2m
FY2016FY2025
Shareholders' equity
$21.96bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $34.19bn | $35.44bn | $34.23bn | $33.67bn | $27.13bn | $22.49bn | $22.26bn | $20.57bn | $12.65bn | $10.95bn |
| Operating income | $2.75bn | $4.85bn | $5.53bn | $6.72bn | $5.08bn | $3.12bn | $2.48bn | $1.99bn | $1.48bn | $1.26bn |
| Net income | $2.08bn | $3.93bn | $3.94bn | $4.61bn | $4.43bn | $2.47bn | $1.85bn | $1.70bn | $810.5m | $911.8m |
| Diluted earnings per share | 8.23 | 14.71 | 14.09 | 16.06 | 14.71 | 7.97 | 5.89 | 5.21 | 3.41 | 3.85 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $34.43bn | $41.31bn | $39.23bn | $37.98bn | $33.21bn | $29.94bn | $29.36bn | $28.57bn | $18.75bn | $15.36bn |
| Cash and short-term investments | $3.80bn | $4.98bn | $6.56bn | $4.62bn | $2.74bn | $2.70bn | $1.45bn | $1.56bn | $2.66bn | $1.38bn |
| Total liabilities | $12.29bn | $13.29bn | $12.53bn | $13.74bn | $12.21bn | $11.84bn | $13.33bn | $13.88bn | $10.76bn | $8.15bn |
| Debt | $6.32bn | $4.45bn | $5.14bn | $6.32bn | $6.99bn | $8.92bn | $9.62bn | $11.11bn | $7.97bn | $6.38bn |
| Shareholders' equity | $21.96bn | $27.87bn | $26.58bn | $24.24bn | $21.00bn | $18.10bn | $16.03bn | $14.68bn | $7.87bn | $7.21bn |
| Shares outstanding | 252m | 267m | 279m | 287m | 301m | 309m | 314m | 326m | 238m | 237m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $216.8m | $2.40bn | $5.18bn | $3.27bn | $2.53bn | $4.19bn | $1.48bn | $1.71bn | $996.9m | $507.8m |
| Capital spending | −$188.6m | −$171.5m | −$99.8m | −$57.2m | −$65.2m | −$72.8m | −$86.5m | −$130.4m | −$111.8m | −$76.4m |
| Free cash flow | $28.2m | $2.23bn | $5.08bn | $3.21bn | $2.47bn | $4.12bn | $1.40bn | $1.58bn | $885.1m | $431.4m |
| Dividends paid | −$521.0m | −$548.8m | −$430.6m | −$438.0m | −$309.8m | −$195.0m | −$51.5m | −$49.2m | −$37.6m | −$35.3m |
Latest quarters
By quarter end
| Aug 2026 | May 2026 | Feb 2026 | Nov 2025 | Aug 2025 | May 2025 | Feb 2025 | Nov 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $8.05bn | $7.94bn | $6.62bn | $9.37bn | $8.81bn | $8.38bn | $7.63bn | $9.95bn |
| Operating income | $459.8m | $348.4m | $233.1m | $667.0m | $721.2m | $648.6m | $713.7m | $1.39bn |
| Net income | $283.9m | $308.1m | $229.4m | $490.2m | $591.0m | $477.4m | $519.5m | $1.10bn |
| Diluted earnings per share | 1.19 | 1.30 | 0.96 | 1.94 | 2.34 | 1.89 | 2.06 | 4.10 |
| Cash from operations | −$55.0m | −$284.0m | −$328.0m | $1.76bn | −$158.0m | −$1.09bn | −$289.0m | $974.0m |
| Capital spending | −$8.0m | −$18.0m | −$29.0m | −$85.0m | −$32.0m | −$15.0m | −$56.0m | −$41.0m |
| Free cash flow | −$63.0m | −$302.0m | −$357.0m | $1.67bn | −$190.0m | −$1.11bn | −$345.0m | $933.0m |
| Total assets | $33.38bn | $33.70bn | $33.21bn | $34.43bn | $34.88bn | $34.37bn | $34.99bn | $41.31bn |
| Cash and short-term investments | $1.15bn | $1.82bn | $2.09bn | $3.80bn | $1.73bn | $1.46bn | $2.57bn | $4.98bn |
| Debt | — | $8.16bn | $5.69bn | $8.08bn | $5.65bn | $4.50bn | $4.19bn | $6.62bn |
| Shareholders' equity | $21.56bn | $21.62bn | $21.88bn | $21.96bn | $22.57bn | $22.58bn | $22.73bn | $27.87bn |
Financial ratios
Data as of 25 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 8.3% | 14.7% | 16.1% | 17.8% | 21.4% | 14.0% |
| Net margin | 6.1% | 11.1% | 11.5% | 13.7% | 16.3% | 11.0% |
| Return on equity | 9.5% | 14.1% | 14.8% | 19.0% | 21.1% | 13.6% |
| Return on assets | 6.0% | 9.5% | 10.0% | 12.1% | 13.3% | 8.2% |
| Free cash flow yield | 2.0% | 11.8% | 23.2% | 14.2% | 10.6% | 16.9% |
| Revenue growth | -3.5% | 3.5% | 1.7% | 24.1% | 20.6% | 1.0% |
| Earnings growth | -47.2% | -0.2% | -14.6% | 4.2% | 79.7% | 33.3% |
| Current ratio | 3.12x | 3.44x | 4.04x | 16.55x | 16.62x | 19.23x |
| Debt to equity | 0.38x | 0.24x | 0.20x | 0.26x | 0.33x | 0.49x |
| Equity ratio | 63.8% | 67.5% | 67.7% | 63.8% | 63.2% | 60.5% |
| Interest coverage | 203.82x | 277.22x | 21.43x | 5.84x | 27.08x | 140.09x |
| Buybacks as a share of market value | 5.6% | 4.4% | 2.8% | 4.6% | 2.6% | 1.5% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 0.5% | 8.7% | 13.7% |
| Operating income | -25.8% | -2.5% | 9.7% |
| Net income | -23.3% | -3.4% | 10.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 10.9% | 14.4% | 15.0% | 13.8% |
| Net margin | 8.6% | 10.6% | 11.5% | 10.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 12.5 | 9.0 | 10.2 | 5.5 | 7.7 | 9.3 | 9.2 | 7.3 | 17.9 | 10.6 |
| Price to sales | 0.8 | 1.0 | 1.2 | 0.8 | 1.3 | 1.0 | 0.8 | 0.6 | 1.1 | 0.9 |
Market value over time
31 Oct 2016 to 24 Sept 2026, in USD
$9.69bn$19.37bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | -23% | -2% | 65% | -15% | 33% | 40% | 39% | -35% | 48% | -8% |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 7 Oct 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 2.00 | 2.00 | 1.936 | 1.452 | 1.452 | 0.968 | 0.605 | 0.155 |
- 1-to-1 reverse split · 21 Nov 2025
- 2-for-1 split · 21 Jan 2004
- 3-for-2 split · 21 Apr 1994
- 2-for-1 split · 26 Feb 1992
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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