Lennar (LEN) FY2021 results: revenue $27.1 billion, up 20.6% on the year
Lennar Corp. (LEN) reported revenue of $27.1 billion for fiscal 2021, the year ended 30 November 2021, up 20.6% on the year before. Net income was $4.4 billion, up 79.7%, and diluted earnings per share $14.27. The figures are the company's own, from the 10-K it filed with the SEC on 28 January 2022.
Revenue
$27.1 billion
+20.6% on the year
FY2014FY2021
Operating margin
18.7%
15.5% a year earlier
FY2014FY2021
Net income
$4.4 billion
+79.7% on the year
FY2014FY2021
Diluted EPS
$14.27
+81.8% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree 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.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
2,533
4,191
1,482
-39.6%
Capital expenditure
65.2
72.8
86.5
-10.4%
Free cash flow
2,468
4,118
1,396
-40.1%
Free cash flow margin
9.1%
18.3%
6.3%
Cash from investing
-105
-280
19.6
Cash from financing
-2,405
-2,447
-1,629
Depreciation and amortisation
86.0
94.6
92.2
-9.1%
Share-based compensation
135
107
86.9
+25.7%
Buybacks
1,430
322
523
+344.8%
Dividends paid
310
195
51.5
+58.8%
Dividend per share
$0.25
n/a
n/a
Diluted shares, weighted
307m
309m
318m
-0.9%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
20,816
17,995
15,950
+15.7%
Non-controlling interest
180
105
84.3
+72.0%
Debt
n/a
7,422
9,574
Other liabilities
12,211
4,414
3,752
+176.6%
Total liabilities and equity
33,208
29,935
29,360
+10.9%
Fixed assets
340
412
280
-17.4%
Goodwill
n/a
3,632
3,658
Securities held for sale or to maturity
n/a
218
296
Loans
n/a
72.6
73.9
Trading assets
n/a
n/a
0.0
Cash and equivalents
2,956
2,863
1,446
+3.2%
Other assets
29,912
22,738
23,606
+31.6%
Total assets
33,208
29,935
29,360
+10.9%
10-K for the year ended 30 November 2021, filed 28 January 2022: the filing.