A Business at a Glance
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Table of Contents Overview of Lennar Corporation 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.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 34.2B | 34.2B | 35.4B | 34.2B | 33.7B | 27.1B |
| Net Income | 2.1B | 2.1B | 3.9B | 3.9B | 4.6B | 4.4B |
| EPS | $7.98 | $7.98 | $13.85 | $13.29 | $15.22 | $13.81 |
| Free Cash Flow | 28M | 28M | 2.2B | 5.1B | 3.2B | 2.5B |
| ROIC | 8.8% | 10.0% | 17.9% | 17.3% | 24.8% | 21.9% |
| Gross Margin | 14.3% | 14.3% | 18.7% | 20.5% | - | 20.9% |
| Debt/Equity | 0.27 | 0.27 | 0.15 | 0.11 | 0.57 | 0.59 |
| Dividends/Share | $2.00 | $2.00 | $1.93 | $1.45 | $1.46 | $0.98 |
| Operating Income | 2.8B | 2.8B | 5.2B | 5.3B | 5.9B | 5.7B |
| Operating Margin | 8.3% | 8.3% | 14.7% | 15.4% | 17.6% | 21.2% |
| ROE | 9.5% | 8.3% | 14.1% | 14.8% | 20.3% | 22.6% |
| Shares Outstanding | 260M | 260M | 284M | 296M | 300M | 317M |
LENNAR CORP /NEW/ passes 6 of 9 quality checks, suggesting mixed fundamentals.
LENNAR CORP /NEW/ trades at 6.0x trailing earnings, compared to its 15-year median P/E of 9.4x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 687.4x vs a median of 12.5x. The company's 5-year average ROIC is 18.4% with a gross margin of 18.6%. Total shareholder yield (dividends + buybacks) is 10.0%. At current prices, the estimated annualized return to fair value is -0.5%.
LENNAR CORP /NEW/ (LEN) has a current P/E ratio of 6.0, compared to its historical median P/E of 9.4. The stock is currently considered Fair based on its historical valuation range.
LENNAR CORP /NEW/ (LEN) has a 5-year average return on invested capital (ROIC) of 18.4%. This indicates strong capital allocation and a potential competitive advantage.
LENNAR CORP /NEW/ (LEN) has a market capitalization of $23.4B. It is classified as a large-cap stock.
Yes, LENNAR CORP /NEW/ (LEN) pays a dividend with a trailing twelve-month yield of 2.23%. The company also returns capital through share buybacks, with a buyback yield of 7.73%.
Based on historical P/E analysis, LENNAR CORP /NEW/ (LEN) appears fair. The current P/E of 6.0 is 36% below its historical median of 9.4. The estimated fair value CAGR (P/E method) is 23.3%.
LENNAR CORP /NEW/ (LEN) operates in the General Bldg Contractors - Residential Bldgs industry, within the Industrials sector.
LENNAR CORP /NEW/ (LEN) reported annual revenue of $34.2 billion in its most recent fiscal year, based on SEC EDGAR filings.
LENNAR CORP /NEW/ (LEN) has a net profit margin of 6.1%. This is a modest margin.
LENNAR CORP /NEW/ (LEN) generated $28 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
LENNAR CORP /NEW/ (LEN) has a debt-to-equity ratio of 0.27. This indicates a conservatively financed balance sheet.
LENNAR CORP /NEW/ (LEN) reported earnings per share (EPS) of $7.98 in its most recent fiscal year.
LENNAR CORP /NEW/ (LEN) has a return on equity (ROE) of 8.3%. This indicates moderate shareholder returns.
LENNAR CORP /NEW/ (LEN) has a 5-year average gross margin of 18.6%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 18 years of financial data for LENNAR CORP /NEW/ (LEN), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
LENNAR CORP /NEW/ (LEN) has a book value per share of $84.32, based on its most recent annual SEC filing.
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