Lennar LEN

Residential Construction, Consumer Cyclical

$84.92

+0.56%

Market cap: $20.2B
PE: n/m; one or more of the four quarters through 2026-08-31 missing
Forward PE: n/m; not a meaningful number
Price to sales: 0.6×
EV/EBIT: 12.5×
Revenue, 12 months: $32B; −8% on a year ago
Net margin: 4.1%
Free cash flow yield: 4.0%

Lennar trades at 0.6× sales. Revenue was $32B over the last twelve months, down 8% on a year earlier with a 4% net margin.

Charts

Financials

Income statement for LEN, by quarter
Income statement	Q4 FY23	Q1 FY24	Q2 FY24	Q3 FY24	Q4 FY24	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26	Q3 FY26
	$11B+8%	$7.3B+13%	$8.8B+9%	$9.4B+8%	$9.9B−9%	$7.6B+4%	$8.4B−4%	$8.8B−6%	$9.4B−6%	$6.6B−13%	$7.9B−5%	$8B−9%
Cost of revenue	n/a	n/a	n/a	n/a	n/a	n/a	n/a	$7.9B	$8.5B	n/a	n/a	$7.4B−6%
Gross profit	n/a	n/a	n/a	n/a	n/a	n/a	n/a	$892.6M	$829M	n/a	n/a	$618.5M−31%
SG&A	$136.3M	$157.3M+25%	$157M+26%	$164.7M+44%	$170M+25%	$147.4M−6%	$155.9M−1%	$171.4M+4%	$162.1M−5%	$157.6M+7%	$136.1M−13%	$137.9M−20%
	$1.9B	$901.1M+10%	$1.2B+2%	$1.3B−13%	$1.4B−28%	$695.8M−23%	$628.4M−48%	$699.6M−46%	$643.9M−53%	$216.2M−69%	$398.3M−37%	$459.8M−34%
Interest expense	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	$1.8B+1%	$930.8M+19%	$1.3B+9%	$1.5B+4%	$1.5B−18%	$698.2M−25%	$641.9M−49%	$790.7M−49%	$683M−53%	$302.5M−57%	$413.2M−36%	$387.1M−51%
	$416.8M+1%	$210.9M+14%	$300.5M+7%	$347.9M−3%	$358.1M−14%	$169.5M−20%	$160.1M−47%	$190.9M−45%	$185.1M−48%	$69.1M−59%	$105.1M−34%	$101.6M−47%
Net income	$1.4B+3%	$719.3M+21%	$954.3M+10%	$1.2B+5%	$1.1B−20%	$519.5M−28%	$477.4M−50%	$591M−49%	$490.2M−55%	$229.4M−56%	$304.8M−36%	$283.9M−52%
	$4.82+6%	$2.57+25%	$3.45+15%	$4.26+10%	$4.06−16%	$1.96−24%	$1.81−48%	$2.29−46%	n/a	$0.93−53%	$1.24−32%	$1.19−48%
	279.4M−3%	276.9M−3%	273.7M−4%	270.2M−5%	267.2M−4%	262.7M−5%	260.3M−5%	255.6M−5%	n/a	244.4M−7%	240.8M−8%	237.8M−7%

Gross profit: 25 periods, Q2 FY15 to Q3 FY26: not printed by the filing, worked out from its own lines.

Operating income: 63 periods, Q1 FY10 to Q3 FY26: not printed by the filing, worked out from its own lines.

EPS, diluted: Q4 FY10: quarter's net income to common over its shares, to the cent, the shares from counts implied by EPS, near the year's EPS less the nine months'. 11 periods, Q4 FY21 to Q2 FY26: quarter's net income to common over its shares, to the cent.

Diluted shares: 15 periods, Q4 FY10 to Q4 FY24: share-days: the 12-month average less the 9-month, weighted by days.

From each company's 10-Q and 10-K filings, the newest version of each figure. Quarters are as filed (a fourth quarter is the year less its first nine months), fiscal years as the 10-K prints them, restated where a later 10-K restated them, and balance sheet lines as of the period's end. A quarter whose 10-Q isn't filed yet is from the company's results release. Growth is on the same period a year earlier. A dash is a period with no figure for the line: the filing doesn't print it, or it hasn't been read yet.

Peers

Companies in Residential Construction nearest Lennar's size, closest first.

Company	Market cap	PE	Its 10y median PE	Fwd PE	P/S	Revenue growth	Net margin
LENLennar	$20.2B	n/m	10.1×	n/m	0.6×	−8%	4.1%
PHMPulteGroup	$22.7B	12.4×	9.3×	11.6×	1.4×	−7%	11.6%
NVRNVR	$15.9B	15.5×	16.6×	n/m	1.7×	−10%	12.0%
TOLToll Brothers	$12.9B	11.2×	9.7×	n/m	1.2×	−1%	11.1%
DHID.R. Horton	$41.3B	14.0×	11.1×	13.5×	1.2×	−4%	9.2%
IBPInstalled Building Products	$5.3B	21.4×	28.4×	n/m	1.8×	+0%	8.5%
ECGEverus Construction	$4.8B	19.1×	27.3×	n/m	1.1×	+31%	6.0%
MTHMeritage Homes CORP	$4.2B	13.4×	8.6×	n/m	0.8×	−13%	6.1%
TPCTutor Perini	$4B	33.1×	8.7×	n/m	0.7×	+25%	2.1%
GEOGEO	$3.6B	12.9×	15.4×	n/m	1.3×	+15%	10.3%
MHOM/I Homes	$3.1B	11.8×	7.6×	n/m	0.7×	−6%	6.6%
Peer median	$5.1B	13.7×	10.4×	12.6×	1.2×	−2%	8.8%