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Stocks / United States / LEN · General Bldg Contractors - Residential Bldgs · NYSE

Lennar Corp. (LEN)

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Lennar Corp. (LEN) reported revenue of $7.9 billion for Q2 FY2026, the quarter ended 31 May 2026, down 5.2% on the same quarter a year earlier. Net income was $305 million, down 36.2% on the year, and diluted earnings per share $1.24. The figures are the company's own, from the 10-Q it filed with the SEC on 29 June 2026.

Revenue$7.9 billiondown 5.2%
Net income$305 milliondown 36.2%
Diluted EPS$1.24
QuarterQ2 FY2026ended 31 May 2026

Ratios

From the filings

ROE7.5%
ROCE9.1%
Operating margin6.0%
Net margin4.9%
FCF margin2.2%
Interest covern/a
Debt to equity0.27
Cash conversion0.55
Share count, 1 yearn/a
Sales CAGR, 3 years0.5%
Profit CAGR, 3 years-23.3%
EPS, TTM$6.38

At the close of 21 September 2026

Price$78.08
Market cap$18.8 billion
Stock P/E12.24
Price to book0.87
EV / EBITDA7.93
Dividend yield0.3%
Market cap / sales0.57
52-week high$133.13
52-week low$76.43
Price, 1 year-38.7%
Price CAGR, 3 years-11.7%
Price CAGR, 5 years-4.5%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on long-term debt as Lennar Corp. files it, at the balance sheet of 30 November 2025, the latest that carries it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on LEN

Filings16 in twelve months: 8 current reports (8-K), about 4 results of operations; 3 regulation fd disclosure; 2 officer or director change; 1 shareholder vote
Planned insider sales2 Form 144 notices in twelve months, $9.9 million; latest 19 February 2026
Options tapeput/call 1.34 by open interest on 23 September 2026; the straddle prices a 3.2% move to 25 September 2026
Holders10 of the followed funds hold it; largest Berkshire Hathaway; 6 Schedule 13D or 13G filings in twelve months
Insider trading0 sales and 16 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest18.2 million shares short, 7.40 days to cover at 31 August 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue8,73010,9687,3138,7669,4169,9477,6328,3788,8109,3686,6197,940
SG&An/an/an/an/an/an/a616689n/an/a617698
Operating income1,4711,8879011,2191,2861,364696628700644216398
Operating margin17%17%12%14%14%14%9%8%8%7%3%5%
Pre-tax income1,4751,7849311,2611,5351,458698642791683302413
Tax rate24%23%23%24%23%25%24%25%24%27%23%25%
Net income1,1091,3617199541,1631,096520477591490229305
Net margin13%12%10%11%12%11%7%6%7%5%3%4%
Diluted EPS$3.87$4.79$2.57$3.45$4.26$4.03$1.96$1.81$2.29$1.92$0.93$1.24
Operating cash flow9522,589368242819975-289-1,095-1591,759-434-284
Capital expenditure22.346.272.938.818.441.456.015.232.285.230.018.9
Free cash flow9302,543295203801933-345-1,110-1911,674-463-303
Buybacks3763415956105255277745215120.1270467
Dividends paid107105139139136135132134129127123123
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 12 fiscal years and the trailing twelve months

FY2014 FY2015 FY2016FY2017 FY2018 FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue7,7809,47410,95012,64620,57222,26022,48927,13133,67134,23335,44134,18732,737
Selling, general and administrativen/an/an/an/an/an/an/an/an/a2,2312,4802,678n/a
Operating income1,1471,4261,5631,4762,4632,7753,4825,078n/a5,3674,7702,6681,958
Operating margin14.7%15.1%14.3%11.7%12.0%12.5%15.5%18.7%n/a15.7%13.5%7.8%6.0%
Interest expense36.612.54.6n/an/an/an/an/an/an/an/an/an/a
Pre-tax income9701,2101,3301,1902,2632,4343,1245,8196,0155,2025,1852,8142,189
Income tax3413904174185455926561,3631,3661,2411,217706550
Effective tax rate35.2%32.3%31.4%35.1%24.1%24.3%21.0%23.4%22.7%23.9%23.5%25.1%25.1%
Net income6398039128101,6961,8492,4654,4304,6143,9393,9332,0781,615
Net margin8.2%8.5%8.3%6.4%8.2%8.3%11.0%16.3%13.7%11.5%11.1%6.1%4.9%
Diluted EPS$2.80$3.46$3.93$3.38$5.44$5.74$7.85$14.27$15.72$13.73$14.31$7.98$6.38
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2014 FY2015 FY2016FY2017 FY2018 FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow-788-4205089821,6921,4824,1912,5333,2665,1802,403217883
Capital expenditure22.691.476.411213086.572.865.257.299.8172189166
Free cash flow-811-5114318711,5611,3964,1182,4683,2085,0802,23228.2717
Free cash flow margin-10.4%-5.4%3.9%6.9%7.6%6.3%18.3%9.1%9.5%14.8%6.3%0.1%2.2%
Depreciation and amortisation38.543.750.266.391.292.294.686.087.1110116134138
Share-based compensation40.743.955.561.472.786.9107135184161177163139
Buybacks20.423.219.927.13005233221,4301,0391,1832,2561,8081,249
Dividends paid32.833.235.337.649.251.5195310438431549521502
Dividend per sharen/an/an/an/an/an/an/a$0.25n/an/an/an/an/a
Diluted shares, weighted228m231m231m237m309m318m309m307m290m283m272m258m241m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 FY2015 FY2016FY2017 FY2018 FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Total assets12,92314,42015,36218,74528,56629,36029,93533,20837,98439,23441,31334,43033,701
Cash and equivalents1,2821,1581,3302,6511,5581,4462,8632,9564,8166,5714,9103,7562,174
Goodwill44.2n/an/an/an/a3,6583,632n/an/an/a3,6323,632n/a
Total debt, as filedn/an/an/an/an/a9,574n/an/an/an/an/an/an/a
Long-term debtn/an/an/an/an/a9,5747,422n/an/an/a4,1895,875n/a
Borrowings, as the company tags them4,6905,025n/an/an/an/an/an/an/an/an/an/an/a
Shareholders' equity4,8275,6497,0267,87214,58215,95017,99520,81624,10026,58127,87021,95921,621
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded13.7%8.7%0.5%-7.4%
Profit growth, compounded10.0%-3.4%-23.3%-50.4%
Return on equity, average13.9%15.8%12.8%9.5%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Filings

FilingPeriodFiledWhere
10-Q31 May 202629 June 2026EDGAR
10-Q28 February 20269 April 2026EDGAR
10-K30 November 202528 January 2026EDGAR
10-Q31 August 20253 October 2025EDGAR
10-Q31 May 20251 July 2025EDGAR
10-Q28 February 20254 April 2025EDGAR
10-K30 November 202423 January 2025EDGAR
10-Q31 August 20242 October 2024EDGAR
10-Q31 May 202428 June 2024EDGAR
10-K/A30 November 202325 April 2024EDGAR

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