Lennar (LEN) FY2024 results: revenue $35.4 billion, up 3.5% on the year
Lennar Corp. (LEN) reported revenue of $35.4 billion for fiscal 2024, the year ended 30 November 2024, up 3.5% on the year before. Net income was $3.9 billion, down 0.2%, and diluted earnings per share $14.31. The figures are the company's own, from the 10-K it filed with the SEC on 23 January 2025.
Revenue
$35.4 billion
+3.5% on the year
FY2017FY2024
Operating margin
13.5%
15.7% a year earlier
FY2017FY2024
Net income
$3.9 billion
-0.2% on the year
FY2017FY2024
Diluted EPS
$14.31
+4.2% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
2,403
5,180
3,266
-53.6%
Capital expenditure
172
99.8
57.2
+71.8%
Free cash flow
2,232
5,080
3,208
-56.1%
Free cash flow margin
6.3%
14.8%
9.5%
Cash from investing
-303
-177
-128
Cash from financing
-3,682
-3,248
-1,277
Depreciation and amortisation
116
110
87.1
+4.9%
Share-based compensation
177
161
184
+9.9%
Buybacks
2,256
1,183
1,039
+90.8%
Dividends paid
549
431
438
+27.5%
Diluted shares, weighted
272m
283m
290m
-4.0%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
27,870
26,581
24,100
+4.9%
Non-controlling interest
151
121
140
+24.6%
Debt
4,189
n/a
n/a
Other liabilities
9,102
12,532
13,744
-27.4%
Total liabilities and equity
41,313
39,234
37,984
+5.3%
Fixed assets
516
405
355
+27.5%
Goodwill
3,632
n/a
n/a
Securities held for sale or to maturity
176
n/a
n/a
Cash and equivalents
4,910
6,571
4,816
-25.3%
Other assets
32,079
32,259
32,813
-0.6%
Total assets
41,313
39,234
37,984
+5.3%
10-K for the year ended 30 November 2024, filed 23 January 2025: the filing.